ARES

NYSE

Ares Management Corp

Financials, Asset Management & Custody Banks

$136.85

close 7 Aug 2026

-26.64%

52-week change

$45.14B

market cap

$95.80

$195.26

52-week range

Expected price

$134.00 – $163.78

Current price

$136.85

Signal

Appears fairly valued

A historical-multiple reference, never a fair-value claim. The band uses only data public at each date and ends at the latest month — no forward estimates.

Current multiples

P/E (TTM)68.82x

P/S (TTM)8.94x

P/B5.40x

EV/EBITDA (TTM)—

FCF yield (TTM)—

PEG (TTM, GAAP)—

Context

P/E, own 5-year average98.42x

P/E, sector median16.04x*

Price at 5-year median P/E$148.90*

Indicated dividend yield3.95%

Forward — analyst consensus

Forward P/E (FY2026)23.39x*

Forward P/E (FY2027)19.04x

Forward PEG1.02*

Consensus EPS FY2026 (15 analysts)$5.85

EPS growth (FY2026→FY2027)22.85%

Revenue growth (FY2026)16.38%

Street view

Price target (mean)$146.50*

Target upside7.05%

Ratings (buy / hold / sell)11 / 7 / 0

FY2026 EPS revisions, 30d (up / down)1 / 11

5-year history

Dashed line: average of month-end values

P/E (TTM)

P/S (TTM)

P/B

FCF yield (TTM)

Dividend yield

period to 31 Mar 2026, filed 7 Aug 2026, close 7 Aug 2026

Discounted cash flow

Ten projected years plus a perpetuity, prefilled from filings — a model to argue with, never a fair-value claim.

Free cash flow, last ten years

Assumptions

Growth rate, years 1–10%

Perpetual growth%Discount rate%

Base FCF$M

As filed — not assumptions

Current price$136.85

Cash & equivalents—

Total debt—

Shares outstanding329.85M

Result

DCF price per share—

Current price$136.85

Margin of safety—

PV of years 1–10-$18.04B

PV of terminal value-$29.53B

Equity value—

Market-implied growth—

The base free cash flow is not positive; growing a negative flow is rarely a meaningful valuation.

Projected FCF, years 1–10

Hover for PV and growth

Projection detail

Override growth for any year; blank years use the uniform rate

Year	2020	2021	2022	2023	2024	2025	2026	2027	2028	2029	Terminal
Growth, %											2.5
FCF	-$2.20B	-$2.32B	-$2.43B	-$2.55B	-$2.68B	-$2.81B	-$2.95B	-$3.10B	-$3.26B	-$3.42B	-$63.74B
PV	-$2.04B	-$1.98B	-$1.93B	-$1.88B	-$1.82B	-$1.77B	-$1.72B	-$1.68B	-$1.63B	-$1.58B	-$29.53B

period to 30 Jun 2026, filed 7 Aug 2026, close 7 Aug 2026