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Discontinued — last reported Q4 '19

Free cash flow at other companies

Blackstone logo
BlackstoneBX
$957.64M-11.3%
Brookfield Asset Management logo
Brookfield Asset ManagementBAM
$332M+196%
Ameriprise Financial logo
Ameriprise FinancialAMP
$430M-73.9%
Citizens Financial Group logo
Citizens Financial GroupCFG
$237M+204%
The Carlyle Group logo
The Carlyle GroupCG
Affiliated Managers Group logo
Affiliated Managers GroupAMG

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$29.17B-19.6%
Enterprise value$29.33B-19.2%
P/E46.8×-36.0×
P/S4.9×-3.6×

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

Calculated from Ares Management Corporation’s reported figures.

The official record: Ares Management Corporation’s 10-K, filed February 28, 2022, on SEC EDGAR. View the filing →

Questions, answered.

What does free cash flow mean?
The cash a company has left over after paying for its operating expenses and capital expenditures.
How do you interpret free cash flow?
An increase indicates stronger liquidity and the ability to fund dividends, share buybacks, or strategic acquisitions, while a decrease may suggest higher capital intensity or declining operational efficiency.
How does free cash flow compare across companies?
Asset managers typically exhibit high free cash flow conversion due to their capital-light business models, though this can vary based on the level of co-investment activity and balance sheet support required for their managed funds.