ARES · XBRL financial data

Ares Management financial statements, every fiscal year

The same tables from 6 filings, lined up. Matched by XBRL tag: renamed lines keep their history.

How these numbers work

Every number comes from the company's XBRL financial data filed with the SEC, and each one links to its filing.
Lines are matched by XBRL tag, so a line renamed between filings keeps its history.
* marks a quarter worked out from the filing totals: the 10-K year minus the first three quarters, or a year-to-date total minus the earlier one. Fourth-quarter earnings per share is fourth-quarter net income over the fourth-quarter weighted shares.
0 means a filing states zero; a dash (—) means no filing states that number.
“year only” means the 10-K gives the full year but not the quarters needed to work out the fourth. A worked-out quarter of revenue, cost of revenue or operating cash flow more than twice the company's largest quarter of the two years before is shown this way too.
Gross profit is shown as the company reports it; a worked-out quarter must equal revenue less cost of revenue for that quarter, or it is a dash.
Operating income can be above gross profit when the company books other operating income between the two, shown on its own line.
Shares outstanding come from each filing's cover page, as of the date printed there.
Quarters are fiscal: Q2 FY27 is the second quarter of the company's fiscal 2027.

Income statement

Fiscal years (ARES's year ends in late December)

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Revenue	1,754	2,289	2,880	3,236	3,691	4,756
Revenue from contracts with customers	1,764	4,212	3,055	3,632	3,885	5,601
Selling, general and administrative	259	444	695	660	737	996
Total operating expenses	1,450	3,410	2,749	2,798	2,939	4,709
Interest expense	25	37	71	—	—	—
Other income (expense)	11	14	13	—	—	—
Income tax expense (benefit)	55	147	72	173	165	199
Net income (loss)	152	409	168	474	464	527

Fiscal years (ARES's year ends in late December)

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Cash and cash equivalents	540	344	390	348	1,508	489
Goodwill	371	788	1,000	1,124	1,163	3,454
Total assets	15,169	21,605	22,003	24,731	24,884	28,633
Total liabilities	12,597	16,695	17,098	19,709	17,486	19,932
Accumulated deficit	(152)	(89)	(369)	(495)	(837)	(1,452)
Total stockholders' equity	1,194	1,825	1,589	1,893	3,544	4,275
Total liabilities and equity	15,169	21,605	22,003	24,731	24,884	28,633
Common shares outstanding (cover page) millions of shares	260	290	295	308	313	—

Fiscal years (ARES's year ends in late December)

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Net income (loss)	152	409	168	474	464	527
Net cash from operating activities	(426)	(2,596)	(734)	(233)	2,791	3,267
Net cash from investing activities	(137)	(1,085)	(337)	(111)	(159)	(1,804)
Net cash from financing activities	944	3,504	1,128	292	(1,432)	(2,427)
Net change in cash	401	(196)	46	(42)	1,160	(1,019)

SIC 6282 and related industry codes, similar size. Each row is the latest quarter reported.

How peers are chosen

SIC 6282 and related industry codes with public float (or, where float is missing, quarterly revenue) between 0.2x and 5x the company's.
Each row is the latest quarter the company has reported, named in the Quarter column; when that filing is a 10-K, it is the fourth quarter, never the full year.
Runway shows only for companies burning cash with under $10B of public float.
* marks a quarter worked out from the filing totals: for a 10-K, the year less the first three quarters; for a 10-Q, the year-to-date total less the earlier one.
A cell reading “not reported” means the filings give no figure for that quarter alone.

Company	Cash ($M)	Revenue, quarter ($M)	Operating cash flow, quarter ($M)	Shares outstanding	Runway	Quarter
Ares Management	557	1,294	(351)*	not reported	1.6 quarters	Q2 FY26 10-QJun 30, 2026
AlTi Global	31	58	not reported	not reported	—	Q2 FY26 10-QJun 30, 2026
Diamond Hill Investment Group	42	37*	17*	2.7M	—	Q4 FY25 10-KDec 31, 2025
Horizon Kinetics Holding	34	19	(2)*	18.6M	16.8 quarters	Q2 FY26 10-QJun 30, 2026
GCM Grosvenor	140	134	38*	not reported	—	Q2 FY26 10-QJun 30, 2026
Ridgepost Capital	37	81	24*	not reported	—	Q2 FY26 10-QJun 30, 2026
Abacus Global Management	23	73	39*	97.8M	—	Q2 FY26 10-QJun 30, 2026
Silvercrest Asset Management Group	28	33	12*	not reported	—	Q3 FY26 10-QSep 30, 2026
Acadian Asset Management	86	185	26*	35.5M	—	Q2 FY26 10-QJun 30, 2026

Not investment advice. Not affiliated with the U.S. SEC.