Company Valuation: Ares Management Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 13,906 12,108 22,485 35,739 35,614 27,831 - -
Change - -12.93% 85.71% 58.95% -0.35% -21.85% - -
Enterprise Value (EV) 1 24,802 12,108 22,485 45,509 47,718 29,337 28,952 29,054
Change - -51.18% 85.71% 102.4% 4.85% -38.52% -1.31% 0.35%
P/E ratio 37.8x 20.4x 32.6x 44.6x 34x 20.6x 16.6x 15.2x
PBR 12.8x - 11.8x 9.99x 7.56x 9.73x 4.35x 4.98x
PEG - 0.4x 3.64x 5.09x 1.7x 0.8x 0.7x 1.59x
Capitalization / Revenue 6.12x 4.32x 7.46x 10.2x 8.37x 5.66x 4.56x 3.89x
EV / Revenue 10.9x 4.32x 7.46x 13x 11.2x 5.96x 4.74x 4.06x
EV / EBITDA 28.1x 10.7x 17.8x 31x 25.8x 13.8x 8.55x 7.08x
EV / EBIT 32x 15.2x 21.8x 34.7x 29.7x 15.1x 12.4x 5.6x
EV / FCF - - -74.8x 16.9x 14.9x -75.2x 6.75x -60.4x
FCF Yield - - -1.34% 5.93% 6.7% -1.33% 14.8% -1.66%
Dividend per Share 2 1.88 - 3.08 3.72 4.48 5.417 6.509 7.597
Rate of return 2.31% - 2.59% 2.1% 2.77% 4.39% 5.27% 6.16%
EPS 2 2.15 3.35 3.65 3.97 4.76 5.992 7.414 8.121
Distribution rate 87.4% - 84.4% 93.7% 94.1% 90.4% 87.8% 93.5%
Net sales 1 2,272 2,803 3,013 3,495 4,257 4,921 6,106 7,159
EBITDA 1 882.9 1,131 1,266 1,467 1,848 2,125 3,388 4,101
EBIT 1 776.2 795.9 1,032 1,310 1,606 1,940 2,333 5,185
Net income 1 408.8 1,062 702.5 826.1 1,111 1,448 1,838 1,962
Net Debt 1 10,896 - - 9,771 12,104 1,506 1,121 1,223
Reference price 2 81.27 68.44 118.92 177.03 161.63 123.41 123.41 123.41
Nbr of stocks (in thousands) 171,103 176,910 189,077 201,880 220,342 225,518 - -
Announcement Date 11/02/22 09/02/23 08/02/24 05/02/25 05/02/26 - - -
1USD in Million2USD
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
20.59x5.96x13.8x4.39% 27.83B
19.68x6.84x13.11x4.38% 92.6B
26.86x8.4x13.36x0.81% 87.07B
11.79x4.59x9x5.53% 20.04B
13.16x4.48x12.67x2.92% 17.29B
18.51x1.81x6.88x4.13% 16.54B
12.15x9.27x - 10.16% 13.57B
39.61x - - 1.95% 12.07B
38.03x7.33x24.72x1.36% 8.9B
Average 22.26x 6.08x 13.36x 3.96% 32.88B
Weighted average by Cap. 21.92x 6.77x 12.93x 3.38%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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  2. Equities
  3. ARES Stock
  4. Valuation Ares Management Corporation