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Ares Management vs TPG: ARES and TPG compared
Ares Management is the larger company: $1.3B of revenue in its latest quarter (Q3 2026) against $1.2B for TPG (Q3 2026). Ares Management is growing faster (+9% against -0.2% a year earlier). TPG is more profitable, with an operating margin of 26.4% against 13.1%.
Where the money goes: ARES and TPG
Ares Management (ARES) · Q3 2026
Ares Management, Q3 2026: revenue $1.3B (+9% year over year), operating margin 13.1%, net earnings $85.3M, operating cash flow −$86.3M. The chart follows the revenue to costs, profit and cash.
TPG (TPG) · Q3 2026
TPG, Q3 2026: revenue $1.2B (-0.2% year over year), operating margin 26.4%, net earnings $99.6M, operating cash flow $249M. The chart follows the revenue to costs, profit and cash.
| Ares Management (ARES) | TPG (TPG) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $1.3B | $1.2B |
| Revenue growth, Y/Y | +9% | -0.2% |
| Operating margin | 13.1% | 26.4% |
| Net earnings | $85.3M | $99.6M |
| Net margin | 6.8% | 8.2% |
| Operating cash flow | −$86.3M | $249M |
| Market value | $44.5B | $18.0B |
| P/E | 45.9× | 52.9× |
| Analysts’ mean target | $146.55 | $59.24 |
Where the revenue comes from
TPG
- Management fees: $573M (47%)
- Other revenues: $508M (42%)
- Expense reimbursements and other: $67.6M (6%)
- Transaction fees: $51.7M (4%)
Questions
Which is bigger, Ares Management or TPG?
Ares Management is the larger company: $1.3B of revenue in its latest quarter (Q3 2026) against $1.2B for TPG (Q3 2026).
Is Ares Management or TPG growing faster?
Ares Management is growing faster (+9% against -0.2% a year earlier).
Which is more profitable, Ares Management or TPG?
TPG is more profitable, with an operating margin of 26.4% against 13.1%.
More: Ares Management earnings · how Ares Management makes money · TPG earnings · how TPG makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 6, 2026; 10-Q filed Nov 3, 2026). Fiscal quarters can end on different dates. Not investment advice.