Ares Management Corp
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| Metric | Q1 2026 | Q1 2025 | YoY |
|---|---|---|---|
| Revenue | 1,396,436 | 1,088,805 | +28.3% |
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| Administrative Service | 97,867 | 57,764 | +69.4% |
| Administrative Service · Consolidated Funds | 83 | 124 | -33.1% |
| Administrative Service · Consolidation Eliminations | -83 | -124 | +33.1% |
| Administrative Service · Material Reconciling Items | -24,035 | -19,728 | -21.8% |
| Administrative Service · Parent Company | 97,950 | 57,888 | +69.2% |
| Carried interest | 146,631 | 160,008 | -8.4% |
| Carried interest · Consolidated Funds | 16,118 | 5,128 | +214.3% |
| Carried interest · Consolidation Eliminations | -16,118 | -5,118 | -214.9% |
| Carried interest · Parent Company | 162,749 | 165,126 | -1.4% |
| Fee related performance revenues · Credit Group | 5,256 | 18,395 | -71.4% |
| Fee related performance revenues · Parent Company | 19,556 | 28,051 | -30.3% |
| Fee related performance revenues · Real Assets Group | 2,601 | — | — |
| Fee related performance revenues · Secondaries Group | 11,699 | 9,656 | +21.2% |
| Fee related performance revenues · Total | 19,556 | 28,051 | -30.3% |
| Management Service | 989,527 | 816,987 | +21.1% |
| Management Service Incentive | 161,934 | 32,048 | +405.3% |
| Management Service Incentive · Parent Company | 161,934 | 32,058 | +405.1% |
| Management Service · All Other Segments | 16,888 | 12,879 | +31.1% |
| Management Service · Consolidation Eliminations | -21,513 | -9,894 | -117.4% |
| Management Service · Credit Group | 684,663 | 585,396 | +17.0% |
| Management Service · Parent Company | 1,011,040 | 826,881 | +22.3% |
| Management Service · Parent Company | 1,001,571 | 818,376 | +22.4% |
| Management Service · Private Equity Group | 33,119 | 31,998 | +3.5% |
| Management Service · Real Assets Group | 196,626 | 130,453 | +50.7% |
| Management Service · Secondaries Group | 70,275 | 57,650 | +21.9% |
| Management Service · Total | 1,001,571 | 818,376 | +22.4% |
| Principal investment income | 477 | 21,998 | -97.8% |
| Principal investment income · Consolidation Eliminations | -28,535 | -4,841 | -489.4% |
| Principal investment income · Parent Company | 29,012 | 26,839 | +8.1% |
| Service Other · All Other Segments | 50 | 136 | -63.2% |
| Service Other · Corporate Non Segment | 9,781 | 5,537 | +76.6% |
| Service Other · Credit Group | 15,099 | 10,598 | +42.5% |
| Service Other · Parent Company | 64,186 | 32,633 | +96.7% |
| Service Other · Private Equity Group | 500 | 397 | +25.9% |
| Service Other · Real Assets Group | 46,752 | 21,380 | +118.7% |
| Service Other · Secondaries Group | 1,785 | 122 | +1363.1% |
| Service Other · Total | 73,967 | 38,170 | +93.8% |
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| Parent Company | 1,396,436 | 1,088,805 | +28.3% |
| Parent Company · Reportable Legal Entities | 1,462,685 | 1,108,792 | +31.9% |
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| Consolidation Eliminations | -66,249 | -19,987 | -231.5% |
| Labor And Related Expense | 692,407 | 657,125 | +5.4% |
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| All Other Segments · Parent Company | 7,964 | 7,063 | +12.8% |
| Credit Group · Parent Company | 176,237 | 164,747 | +7.0% |
| Private Equity Group · Parent Company | 13,784 | 13,831 | -0.3% |
| Real Assets Group · Parent Company | 80,091 | 56,702 | +41.2% |
| Secondaries Group · Parent Company | 20,499 | 18,371 | +11.6% |
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| Parent Company · Operating Segments | 298,575 | 260,714 | +14.5% |
| Parent Company · Reportable Legal Entities | 692,407 | 657,125 | +5.4% |
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| Corporate Non Segment | 150,072 | 116,468 | +28.9% |
| Total | 448,647 | 377,182 | +18.9% |
| Noninterest Expense Related To Performance Fees Net | 228,336 | 122,633 | +86.2% |
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| Parent Company · Reportable Legal Entities | 228,336 | 122,633 | +86.2% |
| Selling, General & Administrative | 240,437 | 227,914 | +5.5% |
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| All Other Segments · Parent Company | 2,563 | 1,483 | +72.8% |
| Credit Group · Parent Company | 51,345 | 41,048 | +25.1% |
| Private Equity Group · Parent Company | 4,978 | 4,257 | +16.9% |
| Real Assets Group · Parent Company | 33,919 | 20,852 | +62.7% |
| Secondaries Group · Parent Company | 8,627 | 8,473 | +1.8% |
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| Parent Company · Operating Segments | 101,432 | 76,113 | +33.3% |
| Parent Company · Reportable Legal Entities | 240,437 | 227,914 | +5.5% |
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| Corporate Non Segment | 80,611 | 64,026 | +25.9% |
| Total | 182,043 | 140,139 | +29.9% |
| Noninterest Expense Related To Expenses Of The Consolidated Funds Net | 7,283 | 6,656 | +9.4% |
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| Consolidated Funds | 7,283 | — | — |
| Consolidated Funds · Consolidated Entity Excluding Vie | 28,878 | — | — |
| Consolidated Funds · Consolidation Eliminations | -21,595 | — | — |
| Operating Expenses | 1,168,463 | 1,014,328 | +15.2% |
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| Consolidated Funds · Operating Segments | 1,168,463 | 1,014,328 | +15.2% |
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| Consolidated Entity Excluding Vie · Reportable Legal Entities | 28,878 | 16,684 | +73.1% |
| Parent Company · Operating Segments | 538,219 | 421,243 | +27.8% |
| Parent Company · Reportable Legal Entities | 1,161,180 | 1,007,672 | +15.2% |
| Subsidiaries · Material Reconciling Items | 873 | -17,035 | +105.1% |
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| Consolidation Eliminations | -21,595 | -10,028 | -115.3% |
| Corporate Non Segment | 230,683 | 180,494 | +27.8% |
| Material Reconciling Items | 630,244 | 593,085 | +6.3% |
| Gain Loss On Investments (Q) | — | — | — |
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| Ares Operating Group | 3,389 | 268 | +1164.6% |
| Ares Operating Group · Consolidation Eliminations | 6,231 | -10,363 | +160.1% |
| Ares Operating Group · Parent Company | -2,842 | 10,631 | -126.7% |
| Consolidated Funds | 134,016 | 88,406 | +51.6% |
| Consolidated Funds · Consolidated Entity Excluding Vie | 139,908 | 83,727 | +67.1% |
| Consolidated Funds · Consolidation Eliminations | -5,892 | 4,679 | -225.9% |
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| Corporate Non Segment | -9,780 | -5,537 | -76.6% |
| Investment Income Interest And Dividend (Q) | — | — | — |
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| Ares Operating Group | 7,099 | 17,656 | -59.8% |
| Ares Operating Group · Parent Company | 7,099 | 18,203 | -61.0% |
| Interest Expense (Q) | — | — | — |
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| Ares Operating Group | -50,760 | -36,387 | -39.5% |
| Ares Operating Group · Parent Company | -50,760 | -36,387 | -39.5% |
| Consolidated Funds | -138,801 | -152,740 | +9.1% |
| Consolidated Funds · Consolidated Entity Excluding Vie | -138,633 | -157,377 | +11.9% |
| Consolidated Funds · Consolidation Eliminations | -168 | 4,637 | -103.6% |
| Other Non-Operating Income (Expense) (Q) | — | — | — |
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| Ares Operating Group | 24,560 | -10,714 | +329.2% |
| Ares Operating Group · Consolidation Eliminations | 65 | -206 | +131.6% |
| Ares Operating Group · Parent Company | 24,495 | -10,508 | +333.1% |
| Consolidated Funds · Intersegment Elimination | -236 | 1,800 | -113.1% |
| Investment Income Net (Q) | — | — | — |
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| Consolidated Funds | 105,445 | 160,072 | -34.1% |
| Consolidated Funds · Consolidated Entity Excluding Vie | 105,445 | 160,072 | -34.1% |
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| Operating Segments | -37,678 | -3,062 | -1130.5% |
| Non-Operating Income (Expense) | 84,948 | 66,561 | +27.6% |
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| Consolidated Funds · Operating Segments | 84,948 | 66,561 | +27.6% |
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| Consolidated Entity Excluding Vie · Reportable Legal Entities | 106,720 | 86,422 | +23.5% |
| Parent Company · Operating Segments | -37,678 | -3,062 | -1130.5% |
| Parent Company · Reportable Legal Entities | -22,008 | -18,061 | -21.9% |
| Subsidiaries · Material Reconciling Items | 2,510 | -699 | +459.1% |
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| Consolidation Eliminations | 236 | -1,800 | +113.1% |
| Material Reconciling Items | -122,626 | -69,623 | -76.1% |
| Income Before Taxes | 312,921 | 141,038 | +121.9% |
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| Consolidated Entity Excluding Vie · Reportable Legal Entities | 77,842 | 69,738 | +11.6% |
| Parent Company · Reportable Legal Entities | 279,497 | 83,059 | +236.5% |
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| Consolidation Eliminations | -44,418 | -11,759 | -277.7% |
| Income Tax Expense (Benefit) | 59,872 | 17,537 | +241.4% |
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| Consolidated Entity Excluding Vie · Reportable Legal Entities | 3,777 | 2,002 | +88.7% |
| Parent Company · Reportable Legal Entities | 56,095 | 15,535 | +261.1% |
| Net Income Loss Including Portion Attributable To Noncontrolling Interest And Consolidated Entities | 253,049 | 123,501 | +104.9% |
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| Consolidated Entity Excluding Vie · Reportable Legal Entities | 74,065 | 67,736 | +9.3% |
| Parent Company · Reportable Legal Entities | 223,402 | 67,524 | +230.8% |
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| Consolidation Eliminations | -44,418 | -11,759 | -277.7% |
| Net Income Loss Attributable To Noncontrolling Interest Consolidated Entities | 29,647 | — | — |
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| Consolidated Funds | 29,647 | 55,977 | -47.0% |
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| Consolidated Entity Excluding Vie · Reportable Legal Entities | 74,065 | — | — |
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| Consolidation Eliminations | -44,418 | — | — |
| Net Income | 223,402 | — | — |
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| Ares Operating Group | 223,402 | 67,524 | +230.8% |
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| Parent Company · Reportable Legal Entities | 223,402 | — | — |
| Net Income Loss Attributable To Redeemable Noncontrolling Interest | -1,113 | — | — |
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| Ares Operating Group | -1,113 | 316 | -452.2% |
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| Parent Company · Reportable Legal Entities | -1,113 | — | — |
| Net Income Loss Attributable To Noncontrolling Interest Parent Only | 81,926 | — | — |
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| Ares Operating Group | 81,926 | 20,038 | +308.9% |
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| Parent Company · Reportable Legal Entities | 81,926 | — | — |
| Net Income | 142,589 | 47,170 | +202.3% |
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| Parent Company · Reportable Legal Entities | 142,589 | 47,170 | +202.3% |
| Preferred Stock Dividends Income Statement Impact (Q) | — | — | — |
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| Parent Company · Reportable Legal Entities | 25,313 | 25,313 | 0.0% |
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| Series B mandatory convertible preferred stock | 25,313 | 25,313 | 0.0% |
| Net Income Loss Available To Common Stockholders Basic | 117,276 | 21,857 | +436.6% |
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| Parent Company · Reportable Legal Entities | 117,276 | 21,857 | +436.6% |
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| Class A Common Stock and Non-Voting Common Stock | 117,276 | 21,857 | +436.6% |
| Net Income Loss Per Outstanding Limited Partnership Unit Basic Net Of Tax (Q) | — | — | — |
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| Class A Common Stock and Non-Voting Common Stock | 0.46 | 0 | — |
| Net Income Loss Net Of Tax Per Outstanding Limited Partnership Unit Diluted (Q) | — | — | — |
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| Class A Common Stock and Non-Voting Common Stock | 0.46 | 0 | — |
| Weighted Average Limited Partnership Units Outstanding (Q) | — | — | — |
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| Class A Common Stock and Non-Voting Common Stock | 224,033,628 | 209,350,849 | +7.0% |
| Weighted Average Limited Partnership Units Outstanding Diluted (Q) | — | — | — |
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| Class A Common Stock and Non-Voting Common Stock | 224,033,628 | 209,350,849 | +7.0% |
| Revenue | 1,298,861 | 1,004,508 | +29.3% |
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| Management Service · Consolidated Funds | 21,513 | 9,894 | +117.4% |
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| Parent Company · Operating Segments | 1,298,861 | 1,004,508 | +29.3% |
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| Material Reconciling Items | -97,575 | -84,297 | -15.8% |
| Operating Income (Q) | — | — | — |
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| All Other Segments · Parent Company | 6,411 | 4,469 | +43.5% |
| Credit Group · Parent Company | 477,436 | 408,594 | +16.8% |
| Private Equity Group · Parent Company | 14,857 | 14,307 | +3.8% |
| Real Assets Group · Parent Company | 131,969 | 74,279 | +77.7% |
| Secondaries Group · Parent Company | 54,633 | 40,584 | +34.6% |
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| Parent Company · Operating Segments | 685,306 | 542,233 | +26.4% |
| Subsidiaries · Material Reconciling Items | 8,962 | -12,263 | +173.1% |
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| Corporate Non Segment | -220,902 | -174,957 | -26.3% |
| Operating Segments | -685,306 | -542,233 | -26.4% |
| Total | 464,404 | 367,276 | +26.4% |
| Interest Income (Q) | — | — | — |
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| Credit Group · Parent Company | 832 | 4,420 | -81.2% |
| Real Assets Group · Parent Company | 184 | 2,618 | -93.0% |
| Secondaries Group · Parent Company | 19 | 957 | -98.0% |
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| Parent Company · Operating Segments | 1,035 | 21,705 | -95.2% |
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| Corporate Non Segment | 941 | 603 | +56.1% |
| Total | 1,976 | 22,308 | -91.1% |
| Comprehensive Income (Q) | — | — | — |
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| Ares Management Corporation · Parent Company | 134,835 | 89,271 | +51.0% |
| Net Income Loss Attributable To Noncontrolling Interest (Q) | — | — | — |
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| Consolidated Funds · Operating Segments | -33,424 | -57,979 | +42.4% |
| Consolidated Funds · Variable Interest Entity Primary Beneficiary | 27,025 | 52,976 | -49.0% |
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| Subsidiaries · Operating Segments | -5,578 | -5,471 | -2.0% |
| Income Loss From Equity Method Investments | 33,584 | 30,964 | +8.5% |
| Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments (Q) | — | — | — |
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| Operating Segments | 312,921 | 141,038 | +121.9% |
Balance Sheet
| Metric | Q1 2026 | Q1 2025 | YoY |
|---|---|---|---|
| Current Assets | |||
| Cash & Cash Equivalents (Q) | — | — | — |
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| Consolidated Entity Excluding Vie | 869,305 | 1,184,275 | -26.6% |
| Consolidated Entity Excluding Vie · Reportable Legal Entities | 869,305 | 1,184,275 | -26.6% |
| Parent Company | 568,779 | 618,536 | -8.0% |
| Parent Company · Reportable Legal Entities | 568,779 | 618,536 | -8.0% |
| Non-Current Assets | |||
| Operating Lease Right-of-Use Assets (Q) | — | — | — |
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| Parent Company | 564,572 | 546,814 | +3.2% |
| Parent Company · Reportable Legal Entities | 564,572 | 546,814 | +3.2% |
| Intangible Assets | 777,400 | 959,447 | -19.0% |
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| Parent Company | 2,141,645 | 2,276,847 | -5.9% |
| Parent Company · Reportable Legal Entities | 2,141,645 | 2,276,847 | -5.9% |
| Goodwill | 3,463,416 | — | — |
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| Credit Group | 312,669 | — | — |
| Private Equity Group | 121,408 | — | — |
| Real Assets Group | 2,611,703 | — | — |
| Secondaries Group | 417,636 | — | — |
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| Parent Company | 3,463,416 | — | — |
| Parent Company · Reportable Legal Entities | 3,463,416 | — | — |
| Total Assets | 28,394,933 | 27,181,768 | +4.5% |
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| Consolidated Funds · Variable Interest Entity Primary Beneficiary | 12,786,632 | 12,804,566 | -0.1% |
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| Consolidated Entity Excluding Vie · Reportable Legal Entities | 13,746,742 | 13,361,812 | +2.9% |
| Consolidated Entity, Excluding VIE, Including Parent | 28,394,933 | 27,181,768 | +4.5% |
| Parent Company · Reportable Legal Entities | 16,142,767 | 14,738,302 | +9.5% |
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| Consolidation Eliminations | -1,494,576 | -918,346 | -62.7% |
| Other Assets | |||
| Investments (Q) | — | — | — |
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| Parent Company | 5,519,677 | 4,892,289 | +12.8% |
| Parent Company · Consolidation Eliminations | -1,478,194 | -894,657 | -65.2% |
| Parent Company · Reportable Legal Entities | 6,997,871 | 5,786,946 | +20.9% |
| Other Receivables (Q) | — | — | — |
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| Parent Company | 1,347,645 | 1,122,790 | +20.0% |
| Parent Company · Affiliated Entity | 1,347,645 | 1,122,790 | +20.0% |
| Parent Company · Consolidation Eliminations | -16,382 | -23,689 | +30.8% |
| Parent Company · Incentive fee receivable from non-consolidated funds | 37,123 | 16,094 | +130.7% |
| Parent Company · Management fees receivable from non-consolidated funds | 878,413 | 750,092 | +17.1% |
| Parent Company · Payments made on behalf of and amounts due from non-consolidated funds and employees | 432,109 | 356,604 | +21.2% |
| Parent Company · Reportable Legal Entities | 1,364,027 | 1,146,479 | +19.0% |
| Other Assets (Q) | — | — | — |
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| Consolidated Entity Excluding Vie | 73,338 | 58,329 | +25.7% |
| Consolidated Entity Excluding Vie · Reportable Legal Entities | 73,338 | 58,329 | +25.7% |
| Parent Company | 1,042,457 | 863,339 | +20.7% |
| Parent Company · Reportable Legal Entities | 1,042,457 | 863,339 | +20.7% |
| Other Investments (Q) | — | — | — |
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| Consolidated Entity Excluding Vie | 12,709,020 | 11,419,808 | +11.3% |
| Consolidated Entity Excluding Vie · Reportable Legal Entities | 12,709,020 | 11,419,808 | +11.3% |
| Receivable For Securities Sold (Q) | — | — | — |
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| Consolidated Entity Excluding Vie | 95,079 | 142,902 | -33.5% |
| Consolidated Entity Excluding Vie · Reportable Legal Entities | 95,079 | 142,902 | -33.5% |
| Non-Current Liabilities | |||
| Employee Related Liabilities Current And Noncurrent (Q) | — | — | — |
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| Parent Company | 422,524 | 300,756 | +40.5% |
| Parent Company · Reportable Legal Entities | 422,524 | 300,756 | +40.5% |
| Accounts Payable Other Current And Noncurrent (Q) | — | — | — |
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| Consolidated Entity Excluding Vie · Consolidation Eliminations | -15,369 | -22,521 | +31.8% |
| Consolidated Entity Excluding Vie · Reportable Legal Entities | 15,369 | 22,521 | -31.8% |
| Parent Company | 796,802 | 721,848 | +10.4% |
| Parent Company · Affiliated Entity | 796,802 | 721,848 | +10.4% |
| Parent Company · Management fee received in advance and rebates payable to non-consolidated funds | 8,725 | 4,038 | +116.1% |
| Parent Company · Payments made by non-consolidated funds on behalf of and payable by the Company | 9,479 | 20,897 | -54.6% |
| Parent Company · Realized carried interest and incentive fees payable | 196,915 | 221,792 | -11.2% |
| Parent Company · Reportable Legal Entities | 796,802 | 721,848 | +10.4% |
| Parent Company · Tax receivable agreement liability | 581,683 | 475,121 | +22.4% |
| Long-Term Debt (Q) | — | — | — |
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| Parent Company | 4,386,476 | 3,544,527 | +23.8% |
| Parent Company · Reportable Legal Entities | 4,386,476 | 3,544,527 | +23.8% |
| Total Liabilities | 20,011,654 | 18,389,821 | +8.8% |
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| Consolidated Funds · Variable Interest Entity Primary Beneficiary | 8,556,436 | 9,805,049 | -12.7% |
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| Consolidated Entity Excluding Vie · Reportable Legal Entities | 9,505,128 | 9,830,710 | -3.3% |
| Consolidated Entity, Excluding VIE, Including Parent | 20,011,654 | 18,389,821 | +8.8% |
| Parent Company · Reportable Legal Entities | 10,585,816 | 8,708,505 | +21.6% |
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| Consolidation Eliminations | -79,290 | -149,394 | +46.9% |
| Other Liabilities | |||
| Accounts Payable And Other Accrued Liabilities (Q) | — | — | — |
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| Consolidated Entity Excluding Vie | 113,004 | 140,953 | -19.8% |
| Consolidated Entity Excluding Vie · Consolidation Eliminations | -756 | -672 | -12.5% |
| Consolidated Entity Excluding Vie · Reportable Legal Entities | 113,760 | 141,625 | -19.7% |
| Parent Company | 1,231,393 | 855,831 | +43.9% |
| Parent Company · Consolidation Eliminations | -148 | -278 | +46.8% |
| Parent Company · Reportable Legal Entities | 1,231,541 | 856,109 | +43.9% |
| Performance Fee Compensation Payable (Q) | — | — | — |
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| Parent Company | 3,018,340 | 2,599,227 | +16.1% |
| Parent Company · Reportable Legal Entities | 3,018,340 | 2,599,227 | +16.1% |
| Operating Lease Liability | 730,133 | 686,038 | +6.4% |
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| Parent Company | 730,133 | 686,038 | +6.4% |
| Parent Company · Reportable Legal Entities | 730,133 | 686,038 | +6.4% |
| Payable For Securities Purchased (Q) | — | — | — |
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| Consolidated Entity Excluding Vie | 281,807 | 415,332 | -32.1% |
| Consolidated Entity Excluding Vie · Reportable Legal Entities | 281,807 | 415,332 | -32.1% |
| Collateralized Loan Obligations (Q) | — | — | — |
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| Senior Notes · Consolidated Funds | 6,022,200 | 7,806,027 | -22.9% |
| Subordinated Debt · Consolidated Funds | 776,610 | 715,975 | +8.5% |
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| Consolidated Funds · Collateralized Loan Obligations | 6,798,810 | 8,522,002 | -20.2% |
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| Consolidated Entity Excluding Vie | 6,798,810 | 8,522,002 | -20.2% |
| Consolidated Entity Excluding Vie · Consolidation Eliminations | -63,017 | -125,923 | +50.0% |
| Consolidated Entity Excluding Vie · Reportable Legal Entities | 6,861,827 | 8,647,925 | -20.7% |
| Fund Borrowings (Q) | — | — | — |
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| Consolidated Entity Excluding Vie | 2,232,365 | — | — |
| Consolidated Entity Excluding Vie · Reportable Legal Entities | 2,232,365 | — | — |
| Stockholders' Equity | |||
| Preferred Stock Value (Q) | — | — | — |
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| Parent Company · Reportable Legal Entities | 1,460,030 | 1,459,918 | 0.0% |
| Parent Company · Series B mandatory convertible preferred stock | 1,460,030 | 1,459,918 | 0.0% |
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| Series B mandatory convertible preferred stock | 1,460,030 | 1,459,918 | 0.0% |
| Common Stock (Q) | — | — | — |
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| Parent Company · Common Class A | 2,220 | 2,149 | +3.3% |
| Parent Company · Common Class C | 1,043 | 1,081 | -3.5% |
| Parent Company · Nonvoting Common Stock | 35 | 35 | 0.0% |
| Parent Company · Reportable Legal Entities | 2,220 | 2,149 | +3.3% |
| Parent Company · Reportable Legal Entities | 1,043 | 1,081 | -3.5% |
| Parent Company · Reportable Legal Entities | 35 | 35 | 0.0% |
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| Common Class A | 2,220 | 2,149 | +3.3% |
| Common Class C | 1,043 | 1,081 | -3.5% |
| Nonvoting Common Stock | 35 | 35 | 0.0% |
| Additional Paid-In Capital | 4,204,689 | 4,040,708 | +4.1% |
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| Parent Company | 4,204,689 | 4,040,708 | +4.1% |
| Parent Company · Consolidation Eliminations | -102,795 | 43,950 | -333.9% |
| Parent Company · Reportable Legal Entities | 4,307,484 | 3,996,758 | +7.8% |
| Retained Earnings | -1,656,571 | -1,074,128 | -54.2% |
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| Parent Company | -1,656,571 | -1,074,128 | -54.2% |
| Parent Company · Reportable Legal Entities | -1,656,571 | -1,074,128 | -54.2% |
| Accumulated Other Comprehensive Income | 13,989 | 24,344 | -42.5% |
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| Parent Company | 13,989 | 24,344 | -42.5% |
| Parent Company · Reportable Legal Entities | 13,989 | 24,344 | -42.5% |
| Total Stockholders' Equity | 4,025,435 | 4,454,107 | -9.6% |
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| Parent Company | 4,025,435 | 4,454,107 | -9.6% |
| Parent Company · Consolidation Eliminations | -102,795 | 43,950 | -333.9% |
| Parent Company · Reportable Legal Entities | 4,128,230 | 4,410,157 | -6.4% |
| Stockholders Equity Including Portion Attributable To Noncontrolling Interest | 8,359,400 | 8,211,839 | +1.8% |
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| Accumulated Other Comprehensive Income | 13,989 | 24,344 | -42.5% |
| Additional Paid In Capital | 4,204,689 | 4,040,708 | +4.1% |
| Common Stock · Common Class A | 2,220 | 2,149 | +3.3% |
| Common Stock · Common Class C | 1,043 | 1,081 | -3.5% |
| Common Stock · Nonvoting Common Stock | 35 | 35 | 0.0% |
| Noncontrolling Interest · Ares Operating Group | 1,357,274 | 1,617,688 | -16.1% |
| Noncontrolling Interest · Consolidated Funds | 2,976,691 | 2,140,044 | +39.1% |
| Preferred Stock · Series B mandatory convertible preferred stock | 1,460,030 | 1,459,918 | 0.0% |
| Retained Earnings | -1,656,571 | -1,074,128 | -54.2% |
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| Consolidated Entity Excluding Vie · Reportable Legal Entities | 4,241,614 | — | — |
| Parent Company · Reportable Legal Entities | 5,533,072 | — | — |
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| Consolidation Eliminations | -1,415,286 | — | — |
| Total Liabilities & Equity | 28,394,933 | 27,181,768 | +4.5% |
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| Consolidated Entity Excluding Vie · Reportable Legal Entities | 13,746,742 | 13,361,812 | +2.9% |
| Parent Company · Reportable Legal Entities | 16,142,767 | 14,738,302 | +9.5% |
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| Consolidation Eliminations | -1,494,576 | -918,346 | -62.7% |
| Redeemable Noncontrolling Interest Equity Carrying Amount (Q) | — | — | — |
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| Parent Company | 23,879 | 23,710 | +0.7% |
| Parent Company · Reportable Legal Entities | 23,879 | 23,710 | +0.7% |
| Minority Interest (Q) | — | — | — |
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| Consolidated Entity Excluding Vie | 2,976,691 | 2,140,044 | +39.1% |
| Consolidated Entity Excluding Vie · Consolidation Eliminations | -1,264,923 | -834,660 | -51.5% |
| Consolidated Entity Excluding Vie · Reportable Legal Entities | 4,241,614 | 2,974,704 | +42.6% |
| Parent Company | 1,357,274 | 1,617,688 | -16.1% |
| Parent Company · Consolidation Eliminations | -47,568 | 21,758 | -318.6% |
| Parent Company · Reportable Legal Entities | 1,404,842 | 1,595,930 | -12.0% |
Cash Flow Statement
| Metric | YTD Q1 2026 | YTD Q1 2025 | YoY |
|---|---|---|---|
| Operating Activities | |||
| Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities (Q) | — | — | — |
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| Consolidated Funds | -351,911 | 968,969 | -136.3% |
| Consolidated Funds · Consolidation Eliminations | 5,893 | -11,344 | +151.9% |
| Consolidated Funds · Reportable Legal Entities | -357,804 | — | — |
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| Parent Company | 252,867 | 310,333 | -18.5% |
| Parent Company · Consolidation Eliminations | 16,610 | 42,636 | -61.0% |
| Parent Company · Reportable Legal Entities | 236,257 | 267,697 | -11.7% |
| Other Operating Activities Cash Flow Statement (Q) | — | — | — |
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| Parent Company | 54,677 | 227,706 | -76.0% |
| Parent Company · Consolidation Eliminations | 20,236 | -144,367 | +114.0% |
| Parent Company · Reportable Legal Entities | 34,441 | 372,073 | -90.7% |
| Increase Decrease In Cash And Cash Equivalents For Operating Activities (Q) | — | — | — |
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| Consolidated Funds | 197,833 | 363,694 | -45.6% |
| Consolidated Funds · Consolidation Eliminations | 96,000 | 199,108 | -51.8% |
| Consolidated Funds · Reportable Legal Entities | 101,833 | — | — |
| Net Cash from Operations | 406,515 | 1,994,203 | -79.6% |
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| Consolidated Funds · Consolidated Entity Excluding Vie | -181,906 | 1,212,635 | -115.0% |
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| Parent Company · Reportable Legal Entities | 494,100 | 707,294 | -30.1% |
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| Consolidation Eliminations | 94,321 | 74,274 | +27.0% |
| Other Non-Cash Items (Q) | — | — | — |
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| Material Reconciling Items | -23,006 | 2,526 | -1010.8% |
| Operating Segments | -23,006 | 2,526 | -1010.8% |
| Investing Activities | |||
| Payments To Acquire Other Property Plant And Equipment (Q) | — | — | — |
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| Parent Company | -15,643 | -21,975 | +28.8% |
| Parent Company · Reportable Legal Entities | -15,643 | -21,975 | +28.8% |
| Payments To Acquire Businesses Net Of Cash Acquired (Q) | — | — | — |
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| Parent Company | 8,477 | -1,722,715 | +100.5% |
| Parent Company · Reportable Legal Entities | 8,477 | -1,722,715 | +100.5% |
| Net Cash from Investing | -7,166 | -1,744,690 | +99.6% |
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| Parent Company · Reportable Legal Entities | -7,166 | -1,744,690 | +99.6% |
| Noncash Or Part Noncash Acquisition Noncash Financial Or Equity Instrument Consideration Noncontrolling Interest | 15,997 | 1,657,881 | -99.0% |
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| Parent Company · Reportable Legal Entities | 15,997 | 1,657,881 | -99.0% |
| Financing Activities | |||
| Proceeds From Long Term Lines Of Credit (Q) | — | — | — |
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| Parent Company | 505,000 | 1,125,000 | -55.1% |
| Parent Company · Reportable Legal Entities | 505,000 | 1,125,000 | -55.1% |
| Proceeds From Issuance Of Other Long Term Debt (Q) | — | — | — |
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| Parent Company | 399,415 | — | — |
| Parent Company · Reportable Legal Entities | 399,415 | — | — |
| Repayments Of Long Term Lines Of Credit (Q) | — | — | — |
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| Parent Company | -460,000 | -140,000 | -228.6% |
| Parent Company · Reportable Legal Entities | -460,000 | -140,000 | -228.6% |
| Payments Of Capital Distribution (Q) | — | — | — |
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| Parent Company | -522,752 | -445,088 | -17.4% |
| Parent Company · Reportable Legal Entities | -522,752 | -445,088 | -17.4% |
| Payments For Repurchase Of Equity (Q) | — | — | — |
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| Parent Company | -318,428 | -396,722 | +19.7% |
| Parent Company · Reportable Legal Entities | -318,428 | -396,722 | +19.7% |
| Proceeds From Payments For Other Financing Activities (Q) | — | — | — |
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| Parent Company | 12,719 | 457 | +2683.2% |
| Parent Company · Reportable Legal Entities | 12,719 | 457 | +2683.2% |
| Proceeds From Payments To Minority Shareholders (Q) | — | — | — |
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| Consolidated Funds | 337,686 | 89,080 | +279.1% |
| Consolidated Funds · Consolidated Entity Excluding Vie | 344,448 | 123,707 | +178.4% |
| Consolidated Funds · Consolidation Eliminations | -6,762 | -34,627 | +80.5% |
| Payments To Minority Shareholders (Q) | — | — | — |
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| Consolidated Funds | -79,832 | -318,174 | +74.9% |
| Consolidated Funds · Consolidated Entity Excluding Vie | -82,056 | -321,741 | +74.5% |
| Consolidated Funds · Consolidation Eliminations | 2,224 | 3,567 | -37.7% |
| Proceeds From Issuance Of Debt (Q) | — | — | — |
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| Consolidated Funds | 824,531 | 172,606 | +377.7% |
| Consolidated Funds · Consolidated Entity Excluding Vie | 824,531 | 172,606 | +377.7% |
| Debt Repayments (Q) | — | — | — |
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| Consolidated Funds | -991,250 | -1,264,886 | +21.6% |
| Consolidated Funds · Consolidated Entity Excluding Vie | -991,250 | -1,264,886 | +21.6% |
| Net Cash from Financing | -292,911 | -1,177,727 | +75.1% |
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| Consolidated Funds · Consolidated Entity Excluding Vie | 95,673 | -1,290,314 | +107.4% |
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| Parent Company · Reportable Legal Entities | -384,046 | 143,647 | -367.4% |
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| Consolidation Eliminations | -4,538 | -31,060 | +85.4% |
| Amortization of Financing Costs (Q) | — | — | — |
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| Credit Facility maturing on 2030 · Parent Company | -335 | — | — |
| Term Loan due 2029 · Parent Company | -499 | — | — |
| Other Cash Flow | |||
| Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents | -26,555 | 38,774 | -168.5% |
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| Consolidated Funds · Consolidated Entity Excluding Vie | -3,550 | 34,465 | -110.3% |
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| Parent Company · Reportable Legal Entities | -23,005 | 4,309 | -633.9% |
| Net Change in Cash | 79,883 | -889,440 | +109.0% |
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| Consolidated Funds · Consolidated Entity Excluding Vie | -89,783 | -43,214 | -107.8% |
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| Parent Company · Reportable Legal Entities | 79,883 | -889,440 | +109.0% |
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| Consolidation Eliminations | 89,783 | 43,214 | +107.8% |
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents | 568,779 | 618,536 | -8.0% |
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| Consolidated Funds · Consolidated Entity Excluding Vie | 869,305 | 1,184,275 | -26.6% |
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| Parent Company | 568,779 | 618,536 | -8.0% |
| Parent Company · Reportable Legal Entities | 568,779 | 618,536 | -8.0% |
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| Consolidation Eliminations | -869,305 | -1,184,275 | +26.6% |
Values in thousands USD. Source: SEC EDGAR 10-Q filing.