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Ares Management Corporation ARES Secondaries Group — Operating Expenses

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Other financials

Income statement

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Revenue$1.4B+28.3%
Net income$142.6M+202%

Balance sheet

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Cash & equivalents$568.8M-8.0%
Total debt$730.1M+6.4%
Total equity$4.0B-9.6%
Total assets$28.4B+4.5%

Cash flow

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Operating cash flow$406.5M-79.6%

Valuation

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Market cap$24.61B-33.7%
Enterprise value$24.77B-33.5%
P/E39.5×-37.8×
P/S4.2×-3.5×

Profitability

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Net margin10.5%+0.3pp
FCF margin-161.4%

Returns & leverage

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Return on equity14.7%+0.6pp
Debt / equity0.2×0.0×

Where this comes from

Reported directly by Ares Management Corporation in its filing.

Tagged under the XBRL concept us-gaap:OperatingExpenses.

The official record: Ares Management Corporation’s 10-K, filed February 25, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Ares Management Corporation's secondaries group — operating expenses?
Ares Management Corporation (ARES) reported secondaries group — operating expenses of $48.95M in Q4 2025.
How has Ares Management Corporation's secondaries group — operating expenses changed year-over-year?
Ares Management Corporation's secondaries group — operating expenses decreased by 61.4% year-over-year, from $126.8M to $48.95M.
What is the long-term trend for Ares Management Corporation's secondaries group — operating expenses?
Over 4 years (2021 to 2025), Ares Management Corporation's secondaries group — operating expenses has grown at a 21.7% compound annual growth rate (CAGR), from $89.28M to $195.79M.
What does secondaries group — operating expenses mean?
This encompasses all costs incurred to manage and operate the Secondaries Group, including compensation, administrative overhead, and other operational outlays. It measures the efficiency of the segment in deploying resources to generate management and performance fees.