Ares Management (ARES) Operating Expenses (2013 - 2026)
Ares Management's (ARES) quarterly Operating Expenses came in at $1.2 billion in Q1 2026, up 15.2% YoY from $1.0 billion in Q1 2025, and down 6.42% on a QoQ basis from $1.2 billion in Q4 2025.
Ares Management (ARES) Operating Expenses (2013 - 2026) Analysis & Trends
Ares Management (ARES) has 14 years of Operating Expenses data on file, last reported at $1.2 billion in Q1 2026.
- Quarterly Operating Expenses rose 15.2% year-over-year to $1.2 billion in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $4.9 billion (up 42.42% YoY) and the FY2025 annual result came in at $4.7 billion, up 60.23% from the prior year.
- Operating Expenses fell to $1.2 billion in Q1 2026, from $1.2 billion in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $1.3 billion in Q3 2025 to a low of $538.5 million in Q1 2024.
- A 5-year average of $844.9 million and a median of $837.7 million in 2023 frame the typical range for Operating Expenses.
- Annual changes were most pronounced in 2022 — Operating Expenses slumped 46.05% — and 2025, when it soared 101.5%.
- Tracing ARES's Operating Expenses over 5 years: stood at $686.4 million in 2022, then rose by 12.25% to $770.5 million in 2023, then climbed by 27.29% to $980.8 million in 2024, then climbed by 27.31% to $1.2 billion in 2025, then slipped by 6.42% to $1.2 billion in 2026.
- The last three Operating Expenses figures came in at $1.2 billion (Q1 2026), $1.2 billion (Q4 2025), and $1.3 billion (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 178.96 Bn | 165.09 Bn | - | 4.62 Bn |
| 2 | Blackstone | 114.79 Bn | 112.28 Bn | - | 2.38 Bn |
| 3 | Kkr | 97.27 Bn | -179.80 Bn | - | 5.41 Bn |
| 4 | Brookfield | 93.51 Bn | 46.11 Bn | - | 14.94 Bn |
| 5 | Brookfield Asset Management | 83.83 Bn | 82.33 Bn | - | 659.00 Mn |
| 6 | Apollo Global Management | 78.51 Bn | 53.14 Bn | 10.54 Bn | 8.74 Bn |
| 7 | State Street | 51.43 Bn | 51.43 Bn | - | 2.66 Bn |
| 8 | Ameriprise Financial | 51.21 Bn | 40.17 Bn | 4.72 Bn | 3.50 Bn |
| 9 | Raymond James Financial | 33.97 Bn | 20.72 Bn | - | 3.18 Bn |
| 10 | Ares Management | 11.45 Bn | 11.45 Bn | - | 1.18 Bn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 1.18 Bn |
| Mar 31, 2026 | 1.17 Bn |
| Dec 31, 2025 | 1.25 Bn |
| Sep 30, 2025 | 1.31 Bn |
| Jun 30, 2025 | 1.14 Bn |
| Mar 31, 2025 | 1.01 Bn |
| Dec 31, 2024 | 980.77 Mn |
| Sep 30, 2024 | 854.89 Mn |
| Jun 30, 2024 | 564.54 Mn |
| Mar 31, 2024 | 538.49 Mn |
| Dec 31, 2023 | 770.52 Mn |
| Sep 30, 2023 | 560.96 Mn |
| Jun 30, 2023 | 837.74 Mn |
| Mar 31, 2023 | 628.64 Mn |
| Dec 31, 2022 | 686.43 Mn |
| Sep 30, 2022 | 898.10 Mn |
| Jun 30, 2022 | 552.87 Mn |
| Mar 31, 2022 | 611.68 Mn |
| Dec 31, 2021 | 1.05 Bn |
| Sep 30, 2021 | 813.27 Mn |