Ares Management
Financial ratios & Valuation

Forward Multiples (2025 – 2026)

20252026
Price/Earnings ratio
29.6622.51
Price/Sales ratio
6.295.18
Earnings per Share (EPS)
$6.08$8.02

Historical Multiples (2014 – 2023)

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 TTM Median
Valuation Ratios
Price/Earnings ratio
39.8656.2115.9832.2560.1733.6353.9237.8478.2846.2680.4660.17
Price/Sales ratio
2.281.291.251.101.782.273.663.313.936.049.521.78
Price/Book Value ratio
0.001.081.141.122.905.235.427.647.5511.5817.352.90
Price/Cash Flow ratio
0.89-1.99-2.51-0.88-1.20-1.93-15.20-5.37-16.36-94.0712.08-1.20
Price/Free Cash Flow ratio
0.90-1.95-2.46-0.86-1.18-1.91-14.65-5.31-15.60-73.0312.59-1.18
Price/Earnings Growth ratio
-0.48-1.200.03-0.65-1.160.12-2.720.24-1.270.230.02-1.16
Dividend Yield
23.93%20.69%13.53%17.26%9.16%8.59%7.24%4.33%6.96%4.69%2.07%8.59%
Profitability Indicator Ratios
Gross Profit Margin
5.57%35.39%33.38%32.84%37.33%34.83%33.59%32.65%40.72%59.06%52.69%37.33%
Operating Profit Margin
-33.11%10.70%18.96%16.91%9.19%18.27%17.77%20.62%22.72%24.38%34.21%9.19%
Pretax Profit Margin
92.22%10.00%23.75%10.12%19.23%24.08%21.51%25.30%16.71%36.70%36.33%19.23%
Net Profit Margin
5.72%2.29%7.84%3.43%2.96%6.76%6.80%8.75%5.02%13.06%11.97%2.96%
Effective Tax Rate
2.02%23.39%3.69%15.38%17.46%12.31%14.49%13.83%14.07%12.97%12.83%12.31%
Return on Assets
0.15%0.43%1.68%0.59%0.27%0.99%0.79%1.70%0.69%1.91%1.82%0.27%
Return On Equity
0.00%1.93%7.14%3.48%4.82%15.55%10.05%20.19%9.65%25.05%23.14%4.82%
Return on Capital Employed
-0.97%2.32%4.91%3.54%1.02%3.11%2.33%4.94%3.73%4.23%6.26%1.02%
Liquidity Ratios
Current Ratio
1.791.731.811.490.590.721.01N/AN/AN/A0.660.59
Quick Ratio
1.761.73-1.590.920.530.710.980.630.640.730.660.53
Cash ratio
1.220.480.810.450.310.440.620.340.320.390.080.44
Days of Sales Outstanding
342.16308.56267.1169.86131.0690.88129.37100.34129.58127.95102.21102.21
Days of Inventory outstanding
18.95-0.761.45K237.740.00N/A-0.44-0.73N/AN/AN/AN/A
Operating Cycle
361.11307.801.72K307.61131.0690.88128.9299.61129.58127.95102.21102.21
Days of Payables Outstanding
108.7584.3445.6053.72101.5447.5950.5149.2780.65103.95104.97101.54
Cash Conversion Cycle
252.35223.451.67K253.8929.5243.2878.4150.3348.9324.00-2.7543.28
Debt Ratios
Debt Ratio
0.620.590.580.660.720.700.700.570.600.620.010.70
Debt Equity Ratio
0.002.652.463.9112.5311.068.986.808.318.150.1311.06
Long-term Debt to Capitalization
0.000.720.710.790.920.910.890.870.890.88N/A0.91
Total Debt to Capitalization
0.000.720.710.790.920.910.890.870.890.890.110.91
Interest Coverage Ratio
-0.370.461.671.250.361.011.00N/AN/AN/A1.310.36
Cash Flow to Debt Ratio
0.11-0.20-0.18-0.32-0.19-0.24-0.03-0.20-0.05-0.0110.91-0.19
Company Equity Multiplier
0.004.464.235.8617.2715.6312.7011.8313.8413.0611.8115.63
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
2.53-0.64-0.49-1.25-1.47-1.17-0.24-0.61-0.24-0.060.79-1.47
Free Cash Flow / Operating Cash Flow Ratio
0.981.021.011.011.011.001.031.011.041.280.941.00
Cash Flow Coverage Ratio
0.11-0.20-0.18-0.32-0.19-0.24-0.03-0.20-0.05-0.0110.91-0.19
Short Term Coverage Ratio
N/AN/AN/AN/A-32.48-19.64-13.09-20.31-4.36-1.8610.91-32.48
Dividend Payout Ratio
954.24%1163.43%216.37%556.80%551.77%288.97%390.43%163.94%545.05%217.29%327.57%327.57%