Ares Management Corp Stock Research

Market Summary

USD89.29+1.29

Delayed

1.47%

ARES Alerts

1 major insider buys and 4 major insider sales recently.

ARES Stock Price

ARES RSI Chart

ARES Valuation

Market Cap

26.9B

Price/Earnings (Trailing)

160.84

Price/Sales (Trailing)

8.54

EV/EBITDA

39.74

Price/Free Cashflow

-107.5

ARES Price/Sales (Trailing)

ARES Profitability

EBT Margin

16.72%

Return on Equity

10.54%

Return on Assets

0.76%

Free Cashflow Yield

-0.93%

ARES Fundamentals

ARES Revenue

Revenue (TTM)

3.2B

Revenue Y/Y

13.76%

Revenue Q/Q

-13.26%

ARES Earnings

Earnings (TTM)

167.5M

Earnings Y/Y

-5.32%

Earnings Q/Q

430.54%

Price Action

52 Week Range

51.7590.28

(Low)(High)

Last 7 days

4.8%

Last 30 days

8.8%

Last 90 days

8.5%

Trailing 12 Months

28.0%

ARES Financial Health

ARES Investor Care

Shares Dilution (1Y)

2.86%

Peers (Alternatives to Ares Management)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
BX	63.4B	4.8B	7.19%	-24.55%	102.89	13.29	-62.27%	-88.42%
KKR	46.2B	7.8B	4.52%	-4.01%	-103.87	5.89	-64.76%	-115.12%
AMP	33.8B	14.5B	8.96%	14.63%	10.39	2.44	5.75%	-28.18%
BEN	12.5B	7.9B	-0.48%	-4.54%	14.76	1.59	-9.17%	-55.48%
MID-CAP
IVZ	7.8B	5.8B	-7.29%	-18.95%	11.43	1.29	-14.95%	-52.29%
HLI	5.7B	737.1M	3.32%	4.39%	47.36	7.78	-67.95%	-74.36%
AMG	5.4B	2.3B	3.50%	8.76%	4.75	2.34	-3.43%	102.56%
EVR	4.8B	2.6B	5.19%	0.93%	10.01	1.72	-21.95%	-46.68%
JHG	4.5B	2.1B	3.49%	0.13%	16.45	2.17	-24.19%	-55.18%
LAZ	3.2B	2.7B	5.04%	-12.41%	8.95	1.12	-18.40%	-60.07%
AMK	2.1B	646.6M	0.45%	37.25%	21.79	3.31	15.54%	72.98%
SMALL-CAP
DHIL	514.3M	146.2M	6.74%	-5.35%	11.68	3.52	-21.14%	-36.78%
VALU	457.1M	40.1M	3.86%	-32.32%	25.62	11.4	-0.04%	-31.55%
SCU	206.6M	434.9M	5.89%	-21.08%	82.34	0.37	-27.53%	-139.58%
PZN	161.6M	197.7M	0.84%	-7.62%	4	0.82	5.01%	-33.91%

Financials for Ares Management

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Revenue	3.2%	3,154	3,055	3,428	3,575	4,269
Operating Expenses	0.6%	2,766	2,749	3,110	3,025	3,497
S&GA Expenses	4.0%	723	695	721	536	497
EBITDA	7.9%	582	540	840	1,105	-
EBITDA Margin	21.0%	0.19*	0.16*	144.74*	0.26*	-
Earnings Before Taxes	15.6%	591	511	477	784	1,037
EBT Margin	20.2%	0.17*	0.14*	135.09*	0.24*	-
Interest Expenses	13.1%	81.00	71.00	63.00	56.00	46.00
Net Income	-3.8%	168	174	294	396	-
Net Income Margin	7.9%	0.05*	0.05*	50.71*	0.09*	-
Free Cahsflow	43.4%	-734	-1,295	-2,095	-1,630	-

Balance Sheet					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Assets	-0.3%	21,929	22,003	21,206	21,226	21,131
Cash Equivalents	-30.2%	272	390	362	253	346
Goodwill	-0.1%	999	1,000	997	998	1,000
Liabilities	1.4%	17,342	17,098	16,642	16,465	16,367
Shareholder's Equity	156.7%	4,079	1,589	1,512	3,668	3,668
Retained Earnings	-13.9%	-420	-369	-374	-226	-154
Additional Paid-In Capital	6.6%	2,100	1,971	1,912	1,880	1,851
Shares Outstanding	2.4%	302	295	294	294	293

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Cashflow From Operations	65.9%	-250	-734	-1,295	-2,095	-1,630
Share Based Compensation	-8.3%	197	215	235	-	-
Cashflow From Investing	89.3%	-36.11	-337	-342	-618	-1,391
Cashflow From Financing	-81.0%	214	1,128	1,738	2,424	2,779

Risks for ARES

What is the probability of a big loss on ARES?

61.5%

Probability that Ares Management stock will be more than 20% underwater in next one year

35.4%

Probability that Ares Management stock will be more than 30% underwater in next one year.

18.5%

Probability that Ares Management stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does ARES drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Ares Management was unfortunately bought at previous high price.

Drawdowns

Returns for ARES

Cumulative Returns on ARES

35.8%

7-Year Cumulative Returns

37.5%

5-Year Cumulative Returns

37.5%

3-Year Cumulative Returns

What are the long-term rolling returns for ARES?

FIve years rolling returns for Ares Management.

Annualized Returns

Which funds bought or sold ARES recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-06-01	MACQUARIE GROUP LTD	reduced	-20.52	-1,183,500	37,088,400	0.04%
2023-05-26	ProShare Advisors LLC	sold off	-100	-816,284	-	-%
2023-05-23	Seaport Global Advisors, LLC	reduced	-44.13	-61,369	131,084	0.41%
2023-05-23	Brookfield Corp /ON/	added	55.44	2,213,580	4,686,660	0.02%
2023-05-23	Capital Impact Advisors, LLC	sold off	-100	-239,540	-	-%
2023-05-23	Front Row Advisors LLC	new	-	5,000	5,000	-%
2023-05-23	Toroso Investments, LLC	added	114	570,000	924,000	0.02%
2023-05-23	ROYCE & ASSOCIATES LP	reduced	-3.03	6,286,650	40,777,100	0.41%
2023-05-22	AMERIPRISE FINANCIAL INC	reduced	-42.00	-26,346,700	63,605,300	0.02%
2023-05-22	PUTNAM INVESTMENTS LLC	sold off	-100	-2,716,590	-	-%

Latest Funds Activity

Are funds buying ARES calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own ARES

No. of Funds

ARES Alerts

1 major insider buys and 4 major insider sales recently.

Ares Management News

Schedule 13G FIlings of Ares Management

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 14, 2023	ares partners holdco llc	45.08%	131,030,397	SC 13G/A
Feb 14, 2023	berry ryan	0.68%	1,176,330	SC 13G/A
Feb 14, 2023	deveer r. kipp	0.57%	999,761	SC 13G/A
Feb 14, 2023	arougheti michael j	0.83%	1,451,347	SC 13G/A
Feb 14, 2023	rosenthal bennett	0.0%	0	SC 13G/A
Feb 14, 2023	ressler antony p	45.34%	131,768,336	SC 13G/A
Feb 14, 2023	kaplan david b	0.0%	0	SC 13G/A
Feb 13, 2023	capital world investors	5.8%	10,060,602	SC 13G/A
Feb 09, 2023	vanguard group inc	8.53%	14,790,463	SC 13G/A
Feb 06, 2023	wellington management group llp	11.21%	19,437,499	SC 13G/A

ARES Fair Value

Show Fair-Value

Recent SEC filings of Ares Management

View All Filings

Date Filed	Form Type	Document
Jun 02, 2023	144	Notice of Insider Sale Intent
Jun 01, 2023	144	Notice of Insider Sale Intent
May 31, 2023	4	Insider Trading
May 31, 2023	4	Insider Trading
May 30, 2023	144	Notice of Insider Sale Intent
May 25, 2023	4	Insider Trading
May 25, 2023	4	Insider Trading
May 25, 2023	4	Insider Trading
May 24, 2023	144	Notice of Insider Sale Intent
May 24, 2023	144	Notice of Insider Sale Intent

Latest Insider Trading transactions for ARES

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-05-30	Berry Ryan	sold	-436,600	87.32	-5,000	chief mktg. & strategy officer
2023-05-26	Arougheti Michael J	sold	-5,819,610	84.8302	-68,603	co-founder, ceo and president
2023-05-26	Arougheti Michael J	sold	-5,416,890	84.8272	-63,858	co-founder, ceo and president
2023-05-25	Arougheti Michael J	sold	-9,249,800	83.8886	-110,263	co-founder, ceo and president
2023-05-25	Arougheti Michael J	sold	-3,067,870	83.8834	-36,573	co-founder, ceo and president
2023-05-24	Arougheti Michael J	sold	-13,757,800	83.1595	-165,439	co-founder, ceo and president
2023-05-24	Arougheti Michael J	sold	-4,595,850	83.1617	-55,264	co-founder, ceo and president
2023-05-23	Arougheti Michael J	acquired	-	-	175,000	co-founder, ceo and president
2023-05-23	Berry Ryan	sold	-428,150	85.63	-5,000	chief mktg. & strategy officer
2023-05-23	Olian Judy D.	sold	-102,708	85.59	-1,200	-

About Ares Management

Michael J. Arougheti

www.aresmgmt.com

2100

Ares Management Corporation operates as an alternative asset manager in the United States, Europe, and Asia. The company's Tradable Credit Group segment manages various types of investment funds, such as commingled and separately managed accounts for institutional investors, and publicly traded vehicles and sub-advised funds for retail investors in the tradable and non-investment grade corporate credit markets. Its Direct Lending Group segment provides financing solutions to small-to-medium sized companies. The company's Private Equity Group segment focuses on majority or shared-control investments primarily in under-capitalized companies. Its Real Estate Group segment invests in new developments and the repositioning of assets, with a focus on control or majority-control investments; and originates and invests in a range of self-originated financing opportunities for middle-market owners and operators of commercial real estate. The firm was previously known as Ares Management, L.P. Ares Management Corporation was founded in 1997 and is headquartered in Los Angeles, California with additional offices in the United States, Europe and Asia. Ares Management GP LLC is the general partner of the company.

ARES Income Statement

2023-03-31

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenues
Total revenues	$ 813,362	$ 714,999
Expenses
Compensation and benefits	360,781	357,243
Performance related compensation	111,658	129,405
General, administrative and other expenses	148,345	120,523
Total expenses	628,636	611,684
Other income (expense)
Net realized and unrealized gains on investments	1,515	8,109
Interest and dividend income	3,839	1,502
Interest expense	(24,986)	(15,646)
Other income (expense), net	(923)	1,784
Total other income (expense), net	56,396	57,994
Income before taxes	241,122	161,309
Income tax expense	33,806	20,411
Net income	207,316	140,898
Net income attributable to Ares Management Corporation Class A and non-voting common stockholders	$ 94,039	$ 45,863
Class A Common Stock
Net income per share of Class A and non-voting common stock:
Basic (in dollars per share)	$ 0.49	$ 0.24
Diluted (in dollars per share)	$ 0.49	$ 0.24
Weighted-average shares of Class A and non-voting common stock:
Basic (in shares)	178,976,022	174,215,251
Diluted (in shares)	178,976,022	174,215,251
Non-voting Common Stock
Net income per share of Class A and non-voting common stock:
Basic (in dollars per share)	$ 0.49	$ 0.24
Diluted (in dollars per share)	$ 0.49	$ 0.24
Weighted-average shares of Class A and non-voting common stock:
Basic (in shares)	178,976,022	174,215,251
Diluted (in shares)	178,976,022	174,215,251
Consolidated Funds
Expenses
Expenses of Consolidated Funds	$ 7,852	$ 4,513
Other income (expense)
Net realized and unrealized gains on investments	10,700	15,968
Interest expense	(156,687)	(74,013)
Interest and other income of Consolidated Funds	222,938	120,290
Less: Net income (loss) attributable to non-controlling interests	26,693	47,382
Ares Operating Group
Other income (expense)
Net income	180,623	93,516
Less: Net income (loss) attributable to non-controlling interests	88,408	47,254
Less: Net income (loss) attributable to redeemable interest in Ares Operating Group entities	(1,824)	399
Management fees
Revenues
Total revenues	600,516	477,332
Carried interest allocation
Revenues
Total revenues	151,488	178,289
Incentive fees
Revenues
Total revenues	8,923	16,422
Principal investment income
Revenues
Total revenues	22,758	8,326
Administrative, transaction and other fees
Revenues
Total revenues	$ 29,677	$ 34,630