Ares Management's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Ares Management (ARES) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Ares Management vs Its Competitors
- TTM: Trailing 12-month revenue of 6,241M vs 922,623M combined for tracked competitors (0.7% combined share).
- Trending: Latest-quarter revenue run-rate is decelerating (-17.1% annualized vs trailing 12 months), vs holding steady (+1.1%) for its tracked peer group.
- Growth: Ares Management generated -14.9% revenue growth year over year in Q2 2026, vs 10.6% for its tracked competitors combined.
- Profitability: Its 18.7% net margin compares with 26.1% for the peer group.
- Scale: Ares Management ranks #19 of 91 companies by market capitalization in the Investment Services industry, holding 1.2% of industry market cap.
- Peer revenue share: Ares Management accounted for 0.6% of combined revenue among its tracked peer group, down from 0.7% a year earlier.
- Peer differentiation: Revenue per employee of $1.47M compares with $0.95M for the peer group (1.5x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
ARES Sales vs. its Competitors, Q2 2026
Ares Management reported revenue contraction of 14.88 % year on year in Q2 2026, below its competitors' combined revenue growth of 10.58 %.
With a net margin of 18.69 %, Ares Management reported lower profitability than its competitors (26.09 %).
Ares Management generated 0.55 % of the combined sales of its peer group, down from 0.72 % a year earlier.
Ares Management vs. its Competitors, Q2 2026
Revenue growth, year on year
Net income growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in an SEC filing; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Ares Management and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Ares Management Corporation | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (1) | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (9) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (8) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Ares Management's competitor groups requires a Commercial License.
For context: the Investment Services industry grew revenue -2.0% year over year, combined, vs -14.9% for Ares Management. Ares Management's share of combined industry revenue moved from 0.59% to 0.52%, a loss of 0.08 percentage points.
Ares Management's Competitor Quality Breadth
Share of each group, trailing 12 months: profitable (net margin > 0), expanding (revenue growth > 0), growing faster than the industry's own median, and financially distressed (Piotroski F-Score of 2 or below).
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Ares Management Corporation | Yes | Yes | Yes | No |
| Competitors combined (72) | ||||
| High-Confidence Competitors (1) | - | - | - | |
| Similar-Size Competitors (10) | ||||
| Similar Growth & Profitability (8) | 87.50 % (7 of 8) | 100.00 % (8 of 8) | 62.50 % (5 of 8) | 14.30 % (1 of 7) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
ARES Stock Performance relative to its Competitors
ARES Stock Performance relative to High-Confidence Competitors
ARES Stock Performance relative to Similar-Size Competitors
ARES Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Wisdomtree Inc | 282.9% | Outperformed |
| 2 | Compass Diversified Holdings | 282.9% | Outperformed |
| 3 | Principal Financial Group inc | 282.9% | Outperformed |
| 4 | Invesco Ltd | 282.9% | Outperformed |
| 5 | Diamond Hill Investment Group Inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Ares Management's best-performing tracked competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Ares Management's Comment on Competition and Industry Peers
We expect to face competition in our direct lending, trading, acquisitions and other investment activities primarily from business development companies, credit and real estate funds, specialized funds, hedge fund sponsors, financial institutions, private equity funds, corporate buyers and other parties. Many of these competitors in some of our businesses are substantially larger and have considerably greater financial, technical and marketing resources than are available to us. Many of these competitors have similar investment objectives to us, which may create additional competition for investment opportunities. Some of these competitors may also have a lower cost of capital and access to funding sources that are not available to us, which may create competitive disadvantages for us with respect to investment opportunities. In addition, some of these competitors may have higher risk tolerances, different risk assessments or lower return thresholds, which could allow them to consider a wider variety of investments and to bid more aggressively than us for investments that we want to make. Corporate buyers may be able to achieve synergistic cost savings with regard to an investment that may provide them with a competitive advantage in bidding for an investment. Lastly, institutional and individual investors are allocating increasing amounts of capital to alternative investment strategies. Several large institutional investors have announced a desire to consolidate their investments in a more limited number of managers. We expect that this will cause competition in our industry to intensify and could lead to a reduction in the size and duration of pricing inefficiencies that many of our funds seek to exploit.
Publicly Traded Peers of Ares Management Corporation
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
| Ares Management Corporation | - | 6,240.52 |
| Jpmorgan Chase and Co | 906,840.78 | 186,328.00 |
| Morgan Stanley | 303,821.16 | 68,350.00 |
| The Goldman Sachs Group Inc | 282,277.94 | 52,259.00 |
| Wells Fargo and Company | 248,473.80 | 83,940.00 |
| Blackrock Inc | 177,737.26 | 27,626.00 |
| SUBTOTAL | 2,792,289.04 | 1,072,603.08 |
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Sources: Ares Management Corporation's official press releases and regulatory filings; CSIMarket.com's market research; and the financial filings and press releases of the other companies cited.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Ares Management Corporation versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Ares Management's Competitors Named by the Company
Competitive relationships identified from SEC filings and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| AACTU | Named by the company | 85% |
| Kodiak Ai Inc | Named by the company | 85% |
| Ares Commercial Real Estate Corporation | Named by the company | 85% |
Filing basis, confidence, active dates and source counts for Ares Management's named competitors require a Commercial License.
Methodology: relationships are extracted from SEC filings (named-competitor disclosures) and corroborating sources. Named by the company = explicitly disclosed as a competitor; Inferred = derived from corroborating signals. Confidence reflects evidence strength.
Ares Management's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Ares Management Corporation | - | 1,468,358 | 237,665 |
| Jpmorgan Chase and Co | 906,841 | 584,995 | 200,752 |
| Morgan Stanley | 303,821 | 823,494 | 245,422 |
| The Goldman Sachs Group Inc | 282,278 | 1,102,511 | 442,468 |
| Wells Fargo and Company | 248,474 | 351,213 | 95,100 |
| Blackrock Inc | 177,737 | 1,109,478 | 286,345 |
| PEERS TOTAL | 2,792,289 | 949,657 | 187,702 |
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Ares Management's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent filing. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Blackrock Inc | Americas 64.41 % |
| Invesco Ltd | Americas 75.98 % |
| Up Fintech Holding Limited | NZ 35.88 % |
| Stifel Financial Corp | Americas 55.21 % |
| Stonex Group Inc | Middle East and Asia 90.47 % |
Source: revenue geography as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
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Ares Management's Business Segment Mix vs Peers
Revenue by operating segment, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Apollo Global Management Inc | Retirement Services 36.50 % |
| Energy Transfer Lp | Crude oil transportation and services 27.94 % |
| Prudential Financial Inc | Total Reconciling Items 1.88 % |
| American International Group Inc | North America Operating 30.08 % |
| The Hartford Insurance Group Inc | P&C Business Insurance 55.32 % |
Source: operating segment revenue as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
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Ares Management's Position in Industry Market Structure
Market-capitalization share and concentration across all 88 companies in Ares Management's industry classification, broader than the peer set above. Market cap in millions of $.Ares Management ranks #19 of 88 companies by market capitalization in its industry, holding 1.17 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 607, indicating a unconcentrated market structure (U.S. antitrust guidance: below 1,500 unconcentrated, 1,500 to 2,500 moderately concentrated, above 2,500 highly concentrated).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Morgan Stanley | 305,186 | 13.29 % |
| 2 | The Goldman Sachs Group Inc | 282,278 | 12.29 % |
| 3 | Blackrock Inc | 177,737 | 7.74 % |
| 4 | Schwab Charles Corp | 171,118 | 7.45 % |
| 5 | Futu Holdings Ltd | 1,234 | 5.2% |
| 6 | Robinhood Markets Inc | 1,234 | 5.2% |
| 7 | Cme Group Inc | 1,234 | 5.2% |
| 8 | Blackstone Inc | 1,234 | 5.2% |
| 9 | Kkr and co inc | 1,234 | 5.2% |
| 10 | Intercontinental Exchange Inc | 1,234 | 5.2% |
| 19 | Ares Management Corporation | 26,838 | 1.17 % |
Market cap and industry share for the rest of Ares Management's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-09-28.
Ares Management's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 14 | Ameriprise Financial Inc | 45,762 | 0.13 % |
| 15 | Interactive Brokers Group Inc | 39,617 | 35.93 % |
| 16 | Raymond James Financial Inc | 31,351 | -7.51 % |
| 17 | Nomura Holdings Inc | 31,072 | 36.09 % |
| 18 | Cboe Global Markets Inc | 1,234 | 12.3% |
| 19 | Ares Management Corporation | 26,838 | -26.65 % |
| 20 | Lpl Financial Holdings Inc | 1,234 | 12.3% |
| 21 | Price T Rowe Group Inc | 1,234 | 12.3% |
| 22 | Tradeweb Markets Inc | 1,234 | 12.3% |
| 23 | Franklin Resources Inc | 1,234 | 12.3% |
| 24 | Tpg Inc | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Ares Management's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-09-28. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Ares Management's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Investment Services industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (78 companies).| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | - | 61.67 % (avg) | - |
| Operating Margin | 58.97 % | industry median | +22.9 pp |
| EBITDA Margin | 30.37 % | 19.52 % (avg) | +10.8 pp |
| Capital Intensity (Capex / Revenue) | - | 2.93 % (avg) | - |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Ares Management's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in SEC filings.| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | -21.89 % | -62.17 % | 411.40 % | 118.75 % | -22.10 % | 27.48 % | 4.62 % | 28.04 % |
| Operating Margin | -109.31 % | -93.54 % | 68.06 % | 37.94 % | 67.19 % | 85.40 % | 81.54 % | 71.79 % |
| Return on Invested Capital | -9.67 % | -2.83 % | 7.19 % | 6.04 % | 7.52 % | 10.20 % | 9.75 % | 10.02 % |
| P/E | 74.7x | 29.1x | 58.9x | 39.0x | 84.0x | 49.5x | 84.6x | - |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Ares Management's Strategic Group Map
Every company in Ares Management's industry and named-competitor list, plotted by trailing 12-month revenue growth and operating margin. Ares Management is shown in red; its closest peers by combined growth, margin and ROIC (the Similar Growth & Profitability group above) are labeled.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Ares Management's BCG Growth-Share Matrix
Relative market share (vs Ares Management's largest competitor by market cap) against industry revenue growth, using the standard textbook thresholds (1.0x share, 10% growth) — a common framework, not a precision instrument.
Ares Management falls in the Dog quadrant: relative market share of 0.09x vs its largest competitor, in an industry growing revenue 9.2% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution.
Ares Management's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | High | Industry HHI of 607 (see Industry Market Structure & Concentration above) |
| Supplier Power | Not covered on this page | See Ares Management's dedicated suppliers page for concentration and dependency data |
| Buyer Power | Not covered on this page | See Ares Management's dedicated customers page for concentration and dependency data |
| Threat of Substitutes | - | No systematic data source for cross-product substitution exists in this system; not estimated |
Note: this is a partial, data-grounded application of the framework, not a complete strategic assessment. Rivalry and barriers-to-entry readings are mechanical translations of the HHI and capital-intensity figures shown elsewhere on this page, not independent judgments.
Ares Management's Industry Attractiveness & Competitive Strength
A CSIMarket composite, not a standard field: each axis is an equal-weighted average of three factors already shown elsewhere on this page (industry growth, industry profitability and rivalry for attractiveness; relative market share, profitability and growth vs industry for strength). Disclosed as a designed methodology, not a precision measurement.
Ares Management falls in the Medium attractiveness / Medium strength cell: Selective.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Ares Management's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) — not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Operating margin 22.9 points above the industry median.
Weaknesses
- Latest-quarter revenue run-rate is decelerating (-17.1% annualized vs trailing 12 months).
- Underperforming the U.S.A. 500 over the trailing 12 months.
- Low relative market share vs the industry leader (0.09x).
Opportunities
No rule matched.
Threats
No rule matched.
Methodology: mechanical, rule-based SWOT. Each bullet reuses a figure already sourced and cited elsewhere on this page; nothing here is generated narrative or independent analyst judgment.
Ares Management's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Ares Management Corporation | 0.38 | 0.49 | 0.35 |
| Jpmorgan Chase and Co | 0.17 | 0.42 | 1.40 |
| Morgan Stanley | 0.40 | 1.12 | 3.16 |
| The Goldman Sachs Group Inc | 0.50 | 0.79 | 3.11 |
| Wells Fargo and Company | 0.11 | 0.80 | 1.41 |
| Blackrock Inc | 7.72 | 7.87 | 0.23 |
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Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Ares Management's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Ares Management Corporation | Q2 2026 | -14.9 % | +8.9 % |
| Jpmorgan Chase and Co | Q2 2026 | +30.4 % | +44.0 % |
| Morgan Stanley | Q2 2026 | -30.6 % | +58.1 % |
| The Goldman Sachs Group Inc | Q2 2026 | -65.3 % | +78.0 % |
| Wells Fargo and Company | Q2 2026 | +14.2 % | +21.6 % |
| Blackrock Inc | Q2 2026 | +27.2 % | +22.6 % |
| PEERS TOTAL | +12.0 % | +38.5 % |
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Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Ares Management's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Ares Management Corporation | Q2 2026 | - | - |
| Jpmorgan Chase and Co | Q2 2026 | -6.4 % | - |
| Morgan Stanley | Q2 2026 | - | +7.3 % |
| The Goldman Sachs Group Inc | Q2 2026 | -73.4 % | +5.5 % |
| Wells Fargo and Company | Q2 2026 | -16.2 % | - |
| Blackrock Inc | Q2 2026 | - | +22.5 % |
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Ares Management's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Ares Management Corporation | 3.55% | 2.55% | 11.80% |
| Jpmorgan Chase and Co | 1.35% | 3.71% | 17.50% |
| Morgan Stanley | 1.35% | 1.95% | 17.85% |
| The Goldman Sachs Group Inc | 1.07% | 1.86% | 16.95% |
| Wells Fargo and Company | 1.05% | 2.94% | 12.48% |
| Blackrock Inc | 4.20% | 4.33% | 12.59% |
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ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Ares Management's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Ares Management Corporation | 54.50 | - |
| Jpmorgan Chase and Co | 14.17 | 4.87 |
| Morgan Stanley | 15.67 | 4.45 |
| The Goldman Sachs Group Inc | 14.34 | 5.40 |
| Wells Fargo and Company | 11.82 | 2.96 |
| Blackrock Inc | 26.17 | 6.43 |
| PEERS AVERAGE | 13.18 | 2.60 |
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P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.