Ares Management (ARES) Q3 2025 10-Q Quarterly Report
Ares Management (ARES) 10-Q quarterly report for Q3 2025, filed with SEC EDGAR on Nov 6, 2025 for the fiscal period ending Sep 30, 2025. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.
Ares Management Q3 2025 10-Q Analysis
Management Discussion & Analysis
- • Revenue $1.66B, up 47% YoY ($1.13B in Q3 2024); nine months revenue $4.10B, up 56% YoY ($2.63B prior year)
- • Net income attributable to Ares Management Corp. $288.9M, up 144% YoY ($118.5M prior year); margin approx. 17.4% (net income / revenue) vs 10.5% YoY
- • Best segment: Credit funds with carried interest of $286.8M Q3 2025 vs $209.1M Q3 2024; worst: Private Equity funds with mixed reversals of unrealized carried interest
- • Cash flows: nine months net cash used mainly in infrastructure and real estate funds; increased principal investment income $50.9M vs $44.5M YoY
- • Management highlights stronger carried interest from credit/opportunistic funds, acquisition impact from GCP boosting fees and expenses; no updated full-year guidance disclosed
Risk Factors
- • No newly added risk factors this quarter; risk disclosures remain consistent with last 10-K
- • Materially updated risk: Consolidation accounting for variable interest entities and joint ventures affects net income presentation due to GAAP changes
- • Compliance risk: Ongoing SEC regulatory scrutiny of financial reporting and non-GAAP measures like FRE and RI with detailed disclosures
- • Market risk: Dependency on fee-paying AUM and incentive generating AUM performance impacting near-term recurring management fees and incentive revenues
- • Financial risk: Exposure to liquidity from undrawn credit facilities and uncalled committed capital ("dry powder") supporting investment capacity and fee generation
Ares Management Q3 2025 Quarterly FinancialsXBRL
Revenue
$1.7B
▲ +46.7% YoY▲ +22.8% QoQ
Net Income
$289M
▲ +143.9% YoY▲ +110.8% QoQ
Net Margin
17.4%
▲ +694bp YoY▲ +728bp QoQ
ROE
6.5%
Total Assets
$27.0B
Operating Cash Flow
$1.3B
▲ +59.4% YoY▲ +222.5% QoQ
Source: XBRL data from Ares Management Q3 2025 10-Q filing on SEC EDGAR. All figures in USD.
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