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TTM Q1 '26TTM Q4 '25TTM Q3 '25TTM Q2 '25TTM Q1 '25
Profitability
Net margin42%41.8%44.3%
Returns
Return on equity63.1%62.5%66.1%
Return on assets8.6%8.1%8%
Return on invested capital124.2%-77.4pp129.2%-112pp147.6%-120pp170.8%-110pp201.6%-71.1pp
Efficiency
Asset turnover0.8×+0.2×0.8×+0.2×0.7×+0.1×0.7×+0.1×0.6×0.0×
Leverage
Debt-to-equity0.6×-0.1×0.6×-0.1×0.6×-0.1×0.8×+0.1×0.7×+0.1×
Debt-to-assets0.1×0.0×0.1×0.0×0.1×0.0×0.1×0.0×0.1×0.0×
Valuation
Market capitalization$132.28B+6.8%$138.23B+16.0%$138.36B+30.7%$134.39B+43.3%$123.84B+46.1%
Enterprise value$132.98B+7.9%$138.84B+17.2%$137.92B+30.1%$133.95B+42.9%$123.24B+45.6%
Price / earnings238.1×268.3×277.8×
Price / sales24.7×-8.3×27.7×-5.5×30.6×+0.4×32.5×+5.3×33×+9.3×
Price / book30.8×-14.4×31.5×-21.4×33.3×-21.4×40.4×-10.2×45.2×-2.2×
EV / sales24.9×-8.0×27.8×-5.2×30.4×+0.2×32.4×+5.2×32.9×+9.2×
Earnings yield7.2%6.1%5.9%

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Questions, answered.

Where do Ares Management Corporation's ratios come from?
Every ratio is computed from Ares Management Corporation's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.