Ares Management Corp

ARES

Quality scores

Data as of Sep 5, 2026

7 / 9

Strong

7/9 — SOLID fundamentals (high quality).

PassROA > 0 — ROA last year = 1.84 %
PassFCF > 0 — FCF last year = 3,194.78 mill.
PassFCF > net income (accrual quality) — FCF 3,194.78 vs. net income 527.36 (mill.)
FailRising ROA — ROA 1.84 % vs. prior year 1.86 %

PassLower long-term leverage — long-term debt/assets 0.39 vs. prior 0.49
FailRising current ratio (more liquidity) — Current ratio 1.18 vs. prior 2.81
PassNo dilution (shares do not grow) — Shares 221.96 mill. vs. prior 313.17 mill.

Z-Score (original)

1.36

Distress zone

Z''-Score (non-manufacturing)

4.11

Safe zone

Ratio	Value
X1 — Working capital / Total assets	0.05
X2 — Retained earnings / Total assets	-0.05
X3 — EBIT / Total assets	0.07
X4 — Market cap / Total liabilities	1.57
X4 — Book equity / Total liabilities	0.21
X5 — Sales / Total assets	0.20