ARES MANAGEMENT CORPORATION
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $4.76B | $3.69B | $3.24B | $2.88B | $2.29B | $1.75B | $1.43B | $1.22B |
| Cost of Revenue | — | — | — | — | — | — | — | — |
| Gross Profit | — | — | — | — | — | — | — | — |
| Gross Margin | — | — | — | — | — | — | — | — |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | $996.1M | $736.5M | $660.1M | $695.3M | $444.2M | $259.0M | — | — |
| Operating Income | $1.29B | $1.28B | $1.33B | $582.2M | $1.10B | $404.4M | $425.2M | $184.3M |
| Operating Margin | 27.1% | 34.6% | 41.2% | 20.2% | 48.2% | 23.1% | 29.7% | 15.1% |
| Interest Expense | — | — | — | $71.4M | $36.8M | $24.9M | — | — |
| Pretax Income | $1.29B | $1.28B | $1.33B | $510.8M | $1.07B | $379.5M | $425.2M | $184.3M |
| Income Tax Expense | $198.5M | $164.6M | $173.0M | $71.9M | $147.4M | $55.0M | $52.4M | $32.2M |
| Net Income | $527.4M | $463.7M | $474.3M | $167.5M | $408.8M | $152.1M | $148.9M | $57.0M |
| Net Margin | 11.1% | 12.6% | 14.7% | 5.8% | 17.9% | 8.7% | 10.4% | 4.7% |
| EPS (Basic) | — | — | — | — | — | — | — | — |
| EPS (Diluted) | — | — | — | — | — | — | — | — |
| Shares Outstanding (Basic) | — | 313.2M | 307.6M | 294.6M | 290.5M | 259.6M | 115.2M | 101.6M |
| Shares Outstanding (Diluted) | — | 313.2M | 307.6M | 294.6M | 290.5M | 259.6M | 115.2M | 101.6M |
| Dividends Per Share | — | — | — | — | $1.88 | — | $1.28 | $1.33 |