Ares Management
ARES · Asset Management & Custody Banks
$122.08
1.3%TPG
TPG · Asset Management & Custody Banks
$44.64
3.3%The short version
- Ares Management is the larger business, with $4.8B of revenue in fiscal 2025 against $4.7B for TPG.
- TPG grew revenue faster (33.4%, against 28.9%).
| Latest fiscal year | ARES · FY25 | TPG · FY25 |
|---|---|---|
| Size | ||
| Market cap | — | $17.2B |
| Revenue | $4.8B | $4.7B |
| Free cash flow | — | — |
| Net income | $527M | $185M |
| Growth | ||
| Revenue growth | 28.9% | 33.4% |
| 5-year growth | 22.1% | — |
| Share count change | — | 2.6% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | — | — |
| Net margin | 11.1% | 4.0% |
| FCF margin | — | — |
| Return on capital | — | 15.2% |
| Return on equity | 13.5% | 4.8% |
| Balance sheet | ||
| Net debt | — | $896M |
| Net debt / EBITDA | — | 1.0x |
| Dividends and buybacks | $0.0M | $0.0M |
| Valuation & quality | ||
| P/E | — | 66.6x |
| Piotroski F-score | — | — |
FY16
ARES $965M
TPG —
FY17
ARES $1.1B
TPG —
FY18
ARES $1.2B
TPG —
FY19
ARES $1.4B
TPG —
FY20
ARES $1.8B
TPG —
FY21
ARES $2.3B
TPG —
FY22
ARES $2.9B
TPG $2.0B
FY23
ARES $3.2B
TPG $2.4B
FY24
ARES $3.7B
TPG $3.5B
FY25
ARES $4.8B
TPG $4.7B
ARES
TPG
FY16
ARES —
TPG —
FY17
ARES —
TPG —
FY18
ARES —
TPG —
FY19
ARES —
TPG —
FY20
ARES —
TPG —
FY21
ARES —
TPG —
FY22
ARES —
TPG —
FY23
ARES —
TPG —
FY24
ARES —
TPG —
FY25
ARES —
TPG —
ARES
TPG
FY16
ARES −$638M
TPG —
FY17
ARES −$1.9B
TPG —
FY18
ARES −$1.4B
TPG —
FY19
ARES −$2.1B
TPG —
FY20
ARES —
TPG —
FY21
ARES —
TPG —
FY22
ARES —
TPG —
FY23
ARES —
TPG —
FY24
ARES —
TPG —
FY25
ARES —
TPG —
ARES
TPG
FY16
ARES —
TPG —
FY17
ARES —
TPG —
FY18
ARES —
TPG —
FY19
ARES —
TPG —
FY20
ARES —
TPG —
FY21
ARES —
TPG —
FY22
ARES —
TPG —
FY23
ARES —
TPG 1.9%
FY24
ARES —
TPG 1.1%
FY25
ARES —
TPG 15.2%
ARES
TPG
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.