Filing Flows › Ares Management (ARES) › Q2 2025
Ares Management (ARES) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 8, 2025
Ares Management (ARES) reported revenue of $1.0B for the second quarter 2025 (Q2 2025), +19% from a year earlier and +4% from the quarter before. Operating margin was 27.2%, net earnings $137M (13.2% of revenue).
Ares Management, Q2 2025: revenue $1.0B (+19% year over year), operating margin 27.2%, net earnings $137M, operating cash flow $416M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.0B | +4% | +19% |
| Operating profit | $283M | +233% | +34% |
| Net earnings | $137M | +191% | +44% |
| Operating cash flow | $416M | -79% | -4% |
What changed
Revenue was $1.0B in Q2 2025, up 19% year over year and up 4% from the previous quarter. Management fees was the largest line at 87% of revenue. Management fees added $0.18B year over year (up 25%), 108% of the total change. Principal investment income declined 63%.
Operating profit was $0.28B, a 27.2% margin (up 3.0 points year over year). Of the extra revenue versus a year earlier, 43% reached operating profit, above the 24% margin then. Total costs grew 14% against revenue growth of 19%. The fastest-growing cost line was SG&A (+37%). Net earnings were $0.14B, up 44% year over year. The effective tax rate was 21.5%.
Operating cash flow was $0.42B (down 4% year over year), 187% of net income including minority interests. Non-cash charges added back $0.17B of share-based compensation. Working capital and other items added $0.03B.
Questions
What was Ares Management's revenue in the second quarter 2025?
Ares Management (ARES) reported revenue of $1.0B for the second quarter 2025 (Q2 2025), +19% from a year earlier and +4% from the quarter before.
Was Ares Management profitable in the second quarter 2025?
Operating profit was $283M (27.2% of revenue) and net earnings $137M.
Source: Ares Management 10-Q on SEC EDGAR.