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ARES

Ares Management LP

US$117.55+0.84% (US$0.98)
Day's range
US$116.73 – US$120.50
Day's volume
US$304.3m
52-week range
US$93.27 – US$171.20

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ARES in numbers

Market cap
US$12.1bn
P/E
22.70
P/B
3.06
Dividend yield (12m)
5.12%

The 12-month dividend yield of ARES is 5.12%, above its 5-year average of 2.67%.

ARES price history

06/10/202502/10/2026
Compare with

ARES risk and return

Monthly closes adjusted for splits and distributions.

Metric12 months36 months60 months
Return-21.96%+14.97%+70.08%
Volatility (annualised)42.79%32.67%35.69%
Largest drawdown-31.58%-42.67%-42.67%
Positive months6/1223/3639/60

How much did investing in ARES return?

US$1,000.00 invested on 01/11/2021 would be worth US$1,700.84 today.

Value today in ARES
US$1,700.84
Return over the period
+70.08%
Return per year
+11.41%
In the S&P 500
US$1,690.98

With dividends reinvested, before taxes and costs, at month-end closes. Past returns do not guarantee future ones.

ARES fundamentals

Valuation

  • P/E
    22.70
  • P/B
    3.06
  • EV/EBITDA
    —
  • EV/EBIT
    —
  • EV/Revenue
    2.03
  • P/EBIT
    —
  • P/S
    2.03
  • P/OCF
    13.32
  • P/FCF
    —
  • Earnings yield
    —
  • PEG ratio
    —
  • Earnings per share
    US$5.18
  • Book value per share
    US$38.40

Efficiency

  • Gross margin
    —
  • EBITDA margin
    —
  • Operating margin
    —
  • Net margin
    8.94%
  • Asset turnover
    0.20

Profitability

  • ROE
    13.49%
  • ROA
    1.81%
  • ROIC
    —
  • Payout
    116.13%

Growth

  • Revenue CAGR (5 years)
    14.06%
  • Earnings CAGR (5 years)
    10.36%
  • Revenue growth (year)
    —
  • Earnings growth (year)
    —
  • Revenue growth (quarter)
    —
  • Earnings growth (quarter)
    —

What is ARES's fair price?

Two classic value formulas, with today's numbers. The current price is US$117.55.

Graham's fair price
US$66.89
43.10% below the price

√(22.50 × US$5.18 × US$38.40)

Benjamin Graham paid no more than a P/E of 15 and a P/B of 1.5. Their product, 22.5, times earnings (EPS) and book value per share gives the fair price.

Bazin's ceiling price
US$52.00
55.76% below the price

US$3.12 (5-year average) ÷ 6%

Décio Bazin only bought shares yielding at least 6% a year in distributions. The ceiling price is the average dividend per share of recent years divided by 6%.

Graham ignores growth and debt; Bazin assumes past distributions will repeat. They are reference points for comparison, not a buy recommendation.

ARES indicators by year

Multiples at each year's closing price; margins and returns from that year's accounts.

Indicator20252024202320222021202020192018
Dividend yield2.77%2.10%2.59%3.57%2.31%3.40%3.59%7.50%
ROE9.97%12.44%25.05%10.54%21.19%12.75%19.38%9.70%
Net margin7.61%11.35%13.06%5.48%9.18%8.62%8.43%5.95%

ARES financial statements

Line202520242023202220212020
Net revenueUS$5.6bnUS$3.9bnUS$3.6bnUS$3.1bnUS$4.2bnUS$1.8bn
Cost of sales——————
Gross profit——————
EBITDA——————
EBIT——————
Net finance resultUS$394.2mUS$329.3mUS$499mUS$204.4mUS$263.7mUS$65.9m
Profit before taxUS$1.3bnUS$1.3bnUS$1.3bnUS$510.8mUS$1.1bnUS$379.5m
Income tax-US$198.5m-US$164.6m-US$173m-US$71.9m-US$147.4m-US$55m
Net incomeUS$426.1mUS$441mUS$474.3mUS$167.5mUS$386.7mUS$152.1m

Figures the company filed with the CVM. Debt excludes leases; each quarter is that quarter alone.

Does ARES pay dividends?

Dividend yield per year

  • 5.65%2017
  • 7.50%2018
  • 3.59%2019
  • 3.40%2020
  • 2.31%2021
  • 3.57%2022
  • 2.59%2023
  • 2.10%2024
  • 2.77%2025
  • 4.16%2026
Payment history
TypeLast day to ownPaymentPer share
Dividend15/09/202630/09/2026US$1.35
Dividend15/06/202630/06/2026US$1.35
Dividend16/03/202631/03/2026US$1.35
Dividend12/12/202501/01/2026US$0.84
Dividend16/12/202531/12/2025US$1.12
Dividend15/09/202530/09/2025US$1.12
Dividend13/06/202530/06/2025US$1.12
Dividend14/03/202531/03/2025US$1.12
Dividend16/12/202431/12/2024US$0.93
Dividend13/09/202430/09/2024US$0.93
Dividend13/06/202428/06/2024US$0.93
Dividend13/03/202429/03/2024US$0.93
See all 42 distributions
Earlier distributions
TypeLast day to ownPaymentPer share
Dividend13/12/202329/12/2023US$0.77
Dividend13/09/202329/09/2023US$0.77
Dividend14/06/202330/06/2023US$0.77
Dividend15/03/202331/03/2023US$0.77
Dividend14/12/202230/12/2022US$0.61
Dividend14/09/202230/09/2022US$0.61
Dividend14/06/202230/06/2022US$0.61
Dividend15/03/202231/03/2022US$0.61
Dividend15/12/202131/12/2021US$0.47
Dividend14/09/202130/09/2021US$0.47
Dividend14/06/202130/06/2021US$0.47
Dividend15/03/202131/03/2021US$0.47
Dividend15/12/202031/12/2020US$0.40
Dividend14/09/202030/09/2020US$0.40
Dividend12/06/202030/06/2020US$0.40
Dividend13/03/202031/03/2020US$0.40
Dividend13/12/201931/12/2019US$0.32
Dividend12/09/201930/09/2019US$0.32
Dividend12/06/201928/06/2019US$0.32
Dividend13/03/201929/03/2019US$0.32
Dividend13/12/201831/12/2018US$0.28
Dividend12/09/201828/09/2018US$0.28
Dividend13/06/201829/06/2018US$0.28
Dividend12/04/201830/04/2018US$0.09
Dividend22/02/201828/02/2018US$0.40
Dividend15/11/201701/12/2017US$0.41
Dividend15/08/201701/09/2017US$0.31
Dividend24/05/201705/06/2017US$0.13
Dividend07/03/201724/03/2017US$0.28
Dividend16/11/201605/12/2016US$0.20

About Ares Management Lp

Sector
Finance, insurance and real estate

Questions about ARES

How much is ARES today?

ARES is at US$117.55 (0.84% on the day), last traded on 02/10/2026.

How much did ARES pay in dividends in 2025?

ARES paid US$4.48 per share in 2025, a dividend yield of 2.77%.

What are the P/E and P/B of ARES?

ARES trades at a P/E of 22.70 and a P/B of 3.06.

How much did ARES return in 12 months?

ARES returned -21.96% in 12 months, with annualised volatility of 42.79% and a largest drawdown of -31.58%.