Ares Management Corporation

ARESNYSEFinancial Services● Active

$125.65

$-4.85(-3.72%)

Market Cap$41.3B

P/E Ratio—

52W High$195.26

52W Low$95.8

Avg Volume3.5M

Open$129.85

Beta1.52

Free Cash Flow Financials Revenue

Ares Management Corporation (ARES) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

ARES · free cash flow · updated Jun 8, 2026

Core FCF metrics

ARES · FCF · TTM · margin & CAGR

Free cash flow was $3.19B for FY2025 (fiscal year ending 2025-12-31), up 18.3% year-over-year The FCF margin was 49.4%.

FY2025 Free Cash Flow$3.19B▲ +18.3% YoY

Trailing 12M (TTM)$1.61Btrailing 4 quarters sum

FCF Margin49.4%$3.19B ÷ revenue

3-Year CAGRN/AN/A — contains negative FCF

5-Year CAGRN/AN/A — contains negative FCF

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

ARES · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$3.27B(72M)$3.19B▲ +18.3%49.4%

FY2024$2.79B(92M)$2.70B▲ +998.6%69.5%

FY2023−$233.3M(67M)−$300.4M▲ +61.0%-8.3%

FY2022−$734.1M(36M)−$769.9M▲ +70.7%-25.2%

FY2021−$2.60B(27M)−$2.62B▼ 494.0%-62.3%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

ARES · P/FCF · FCF yield · FCF per share

Ares Management Corporation (ARES) trades at a FCF yield of 3.91% and a price-to-free-cash-flow ratio of 16.9x. FCF per share stands at $7.42, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

3.91%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$7.42

TTM FCF ÷ Shares Outstanding

Price / FCF

x16.9

Share Price ÷ FCF per Share

EV / FCF (TTM)

x33.5

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

ARES · cash flow statement · operating / investing / financing

For FY2025, Ares Management Corporation generated $3.27B in operating cash flow and spent 72M in capital expenditures, yielding $3.19B in free cash flow.

Operating Activities

+$3.27B

Cash from core business operations

2025-12-31

Investing Activities

−$1.80B

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$2.43B

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($3.27B) − |CapEx| (72M) = FCF ($3.19B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Financial Services)

ARES vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Ares Management CorporationYOU

ARES

$3.19B+18.3%49.4%

Berkshire Hathaway Inc.

BRK-A

$25.04B+115.6%6.7%

25%

Berkshire Hathaway Inc.

Mastercard Incorporated

$16.91B+18.2%51.6%

17%

Financial Services · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Ares Management Corporation (ARES) reported free cash flow of $3.19B for FY2025 (fiscal year ending 2025-12-31), up 18.3% year-over-year. The FCF margin was 49.4%.

Based on available data, Ares Management Corporation has maintained positive free cash flow for at least 6 fiscal year(s). FCF peaked at $3.19B in FY2025.

Ares Management Corporation's FCF yield is 3.91% and price-to-FCF ratio is 16.9x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

ARES free cash flow · 8 questions

Ares Management Corporation free cash flow was $3.19B for FY2025, up 18.3% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $1.61B.

ARES free cash flowARES FCFARES FCF 2025ARES free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Ares Management Corporation · Ares Management Corporation SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026