Ares Management

ARES · Financials · Market cap $44.2B

Q1 FY26 Mar 31, 2026 reported May 8, 2026

Revenue$1.3B +29% year over year

Gross profit–

Operating profit$0.2B

Net profit$0.1B 11% margin

Numbers and detail

All figures in billions of U.S. dollars, for Q1 FY26 (period ends Mar 31, 2026).
Item	Value	Share of revenue	Year over year
Revenue	1.3	100%	+29%
Management Service	1	77%	+24%
Carried Interest	0.2	15%	+2%
Administrative Service	0.1	8%
SG&A	−0.2	19%	−4pp
Other	−0.9	64%	+0pp
Operating profit	0.2	18% margin	+10pp
Tax	−0.1
Net profit	0.1	11%	+6pp

All figures in billions of U.S. dollars, for Q4 FY25 (period ends Dec 31, 2025).
Item	Value	Share of revenue	Year over year
Revenue	1.6	100%	+26%
Performance income—realized	0.5	31%
Performance related…	0.4	25%
Fee related performance	0.3	19%
Other fees	0.2	12%
Other	0.1	6%	+196%
SG&A	−0.3	19%	+3pp
Other	−1	65%	+0pp
Operating profit	0.3	16% margin	−6pp
Interest & other costs	−0.3
Net profit	0	-3%	−16pp

All figures in billions of U.S. dollars, for Q2 FY25 (period ends Jun 30, 2025).
Item	Value	Share of revenue	Year over year
Revenue	1	100%	+19%
Management fees	0.9	90%
Other fees	0.1	10%
Performance income—realized	0.1	10%
SG&A	−0.2	22%	+3pp
Other	−0.6	57%	+0pp
Operating profit	0.2	20% margin	−5pp
Tax	−0.1
Net profit	0.1	13%	+2pp

All figures in billions of U.S. dollars, for Q1 FY25 (period ends Mar 31, 2025).
Item	Value	Share of revenue	Year over year
Revenue	1	100%	+37%
Management fees	0.8	80%
Performance income—realized	0.1	10%
SG&A	−0.2	23%	−1pp
Other	−0.7	70%	+0pp
Operating profit	0.1	7% margin	−16pp
Net profit	0	5%	−5pp

Quarter by quarter

Pick a quarter and the diagram above changes. Bars compare revenue across the quarters we hold.

Quarter	Period	Reported	Revenue	Year over year	Operating margin	Net profit	Net margin
Q1 FY26	Mar 31, 2026	May 8, 2026	$1.3B	+29%	15%	$0.1B	11%
Q4 FY25	Oct 1 – Dec 31, 2025	Feb 25, 2026	$1.6B	+26%	19%	$0B	-3%
Q2 FY25	Apr 1 – Jun 30, 2025	Aug 8, 2025	$1B	+19%	20%	$0.1B	13%
Q1 FY25	Jan 1 – Mar 31, 2025	May 12, 2025	$1B	+37%	10%	$0B	5%