Ares Management (ARES) FY2024 results: revenue $3.9 billion, up 7.0% on the year
Ares Management Corp. (ARES) reported revenue of $3.9 billion for fiscal 2024, the year ended 31 December 2024, up 7.0% on the year before. Net income was $464 million, down 2.2%, and diluted earnings per share $2.04. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2025.
Revenue
$3.9 billion
+7.0% on the year
FY2017FY2024
Operating margin
24.4%
23.0% a year earlier
FY2017FY2024
Net income
$464 million
-2.2% on the year
FY2017FY2024
Diluted EPS
$2.04
-15.7% on the year
FY2017FY2024
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
2,791
-233
-734
Cash from investing
-159
-111
-337
Cash from financing
-1,432
292
1,128
Depreciation and amortisation
148
157
160
-5.7%
Share-based compensation
353
256
200
+37.9%
Diluted shares, weighted
n/a
196m
n/a
Shares outstanding at period end
313m
308m
295m
+1.8%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
3,544
1,893
1,589
+87.2%
Non-controlling interest
3,281
2,581
2,209
+27.1%
Debt
2,834
n/a
n/a
Other liabilities
15,226
20,256
18,204
-24.8%
Total liabilities and equity
24,884
24,730
22,003
+0.6%
Goodwill
1,163
1,124
1,000
+3.4%
Intangible assets
408
491
640
-16.8%
Cash and equivalents
1,508
348
390
+333.0%
Other assets
21,806
22,768
19,973
-4.2%
Total assets
24,884
24,730
22,003
+0.6%
10-K for the year ended 31 December 2024, filed 27 February 2025: the filing.