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Side-by-side financial comparison of Ares Management Corp (ARES) and M/I HOMES, INC. (MHO). Click either name above to swap in a different company.
Ares Management Corp is the larger business by last-quarter revenue ($1.5B vs $1.1B, roughly 1.3× M/I HOMES, INC.). M/I HOMES, INC. runs the higher net margin — 5.6% vs 3.6%, a 2.0% gap on every dollar of revenue. On growth, Ares Management Corp posted the faster year-over-year revenue change (19.5% vs -4.8%). Over the past eight quarters, Ares Management Corp's revenue compounded faster (45.9% CAGR vs 4.7%).
Ares Management Corporation is a global alternative investment manager operating in the credit, private equity and real estate markets. The company was founded in 1997, with additional offices across North America, Europe, and Asia.
M/I Homes, Inc. is a leading U.S. residential construction company that designs, builds and sells single-family homes, townhomes and duplexes across multiple U.S. states. It caters to entry-level, move-up and luxury homebuyers, offering energy-efficient designs, flexible floor plans and personalized customization options.
ARES vs MHO — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.5B | $1.1B |
| Net Profit | $54.2M | $64.0M |
| Gross Margin | — | 17.4% |
| Operating Margin | 13.7% | 6.5% |
| Net Margin | 3.6% | 5.6% |
| Revenue YoY | 19.5% | -4.8% |
| Net Profit YoY | -69.4% | -52.1% |
| EPS (diluted) | — | $2.42 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $1.5B | $1.1B | ||
| Q3 25 | $1.7B | $1.1B | ||
| Q2 25 | $1.4B | $1.2B | ||
| Q1 25 | $1.1B | $976.1M | ||
| Q4 24 | $1.3B | $1.2B | ||
| Q3 24 | $1.1B | $1.1B | ||
| Q2 24 | $788.7M | $1.1B | ||
| Q1 24 | $707.4M | $1.0B |
| Q4 25 | $54.2M | $64.0M | ||
| Q3 25 | $288.9M | $106.5M | ||
| Q2 25 | $137.1M | $121.2M | ||
| Q1 25 | $47.2M | $111.2M | ||
| Q4 24 | $177.3M | $133.5M | ||
| Q3 24 | $118.5M | $145.4M | ||
| Q2 24 | $94.9M | $146.7M | ||
| Q1 24 | $73.0M | $138.1M |
| Q4 25 | — | 17.4% | ||
| Q3 25 | — | 24.5% | ||
| Q2 25 | — | 24.7% | ||
| Q1 25 | — | 25.9% | ||
| Q4 24 | — | 24.6% | ||
| Q3 24 | — | 27.1% | ||
| Q2 24 | — | 27.9% | ||
| Q1 24 | — | 27.1% |
| Q4 25 | 13.7% | 6.5% | ||
| Q3 25 | 39.3% | 12.0% | ||
| Q2 25 | 21.3% | 13.4% | ||
| Q1 25 | 13.0% | 14.4% | ||
| Q4 24 | 31.8% | 13.6% | ||
| Q3 24 | 29.0% | 15.9% | ||
| Q2 24 | 40.2% | 16.8% | ||
| Q1 24 | 32.7% | 16.6% |
| Q4 25 | 3.6% | 5.6% | ||
| Q3 25 | 17.4% | 9.4% | ||
| Q2 25 | 10.2% | 10.4% | ||
| Q1 25 | 4.3% | 11.4% | ||
| Q4 24 | 14.1% | 11.1% | ||
| Q3 24 | 10.5% | 12.7% | ||
| Q2 24 | 12.0% | 13.2% | ||
| Q1 24 | 10.3% | 13.2% |
| Q4 25 | — | $2.42 | ||
| Q3 25 | — | $3.92 | ||
| Q2 25 | — | $4.42 | ||
| Q1 25 | — | $3.98 | ||
| Q4 24 | — | $4.71 | ||
| Q3 24 | — | $5.10 | ||
| Q2 24 | — | $5.12 | ||
| Q1 24 | — | $4.78 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $4.3B | $3.2B |
| Total Assets | $28.6B | $4.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.3B | $3.2B | ||
| Q3 25 | $4.5B | $3.1B | ||
| Q2 25 | $4.4B | $3.1B | ||
| Q1 25 | $4.5B | $3.0B | ||
| Q4 24 | $3.5B | $2.9B | ||
| Q3 24 | $2.1B | $2.8B | ||
| Q2 24 | $2.0B | $2.7B | ||
| Q1 24 | $1.8B | $2.6B |
| Q4 25 | $28.6B | $4.8B | ||
| Q3 25 | $27.0B | $4.8B | ||
| Q2 25 | $27.3B | $4.7B | ||
| Q1 25 | $27.2B | $4.6B | ||
| Q4 24 | $24.9B | $4.5B | ||
| Q3 24 | $24.5B | $4.5B | ||
| Q2 24 | $24.2B | $4.3B | ||
| Q1 24 | $24.4B | $4.2B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-483.7M | $-8.7M |
| Free Cash FlowOCF − Capex | — | $-13.0M |
| FCF MarginFCF / Revenue | — | -1.1% |
| Capex IntensityCapex / Revenue | — | 0.4% |
| Cash ConversionOCF / Net Profit | -8.92× | -0.14× |
| TTM Free Cash FlowTrailing 4 quarters | — | $127.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-483.7M | $-8.7M | ||
| Q3 25 | $1.3B | $43.4M | ||
| Q2 25 | $415.7M | $37.8M | ||
| Q1 25 | $2.0B | $64.9M | ||
| Q4 24 | $807.6M | $104.4M | ||
| Q3 24 | $841.3M | $-67.9M | ||
| Q2 24 | $432.2M | $27.5M | ||
| Q1 24 | $710.0M | $115.8M |
| Q4 25 | — | $-13.0M | ||
| Q3 25 | — | $42.0M | ||
| Q2 25 | — | $35.1M | ||
| Q1 25 | — | $63.5M | ||
| Q4 24 | — | $102.3M | ||
| Q3 24 | — | $-68.5M | ||
| Q2 24 | — | $22.0M | ||
| Q1 24 | — | $115.5M |
| Q4 25 | — | -1.1% | ||
| Q3 25 | — | 3.7% | ||
| Q2 25 | — | 3.0% | ||
| Q1 25 | — | 6.5% | ||
| Q4 24 | — | 8.5% | ||
| Q3 24 | — | -6.0% | ||
| Q2 24 | — | 2.0% | ||
| Q1 24 | — | 11.0% |
| Q4 25 | — | 0.4% | ||
| Q3 25 | — | 0.1% | ||
| Q2 25 | — | 0.2% | ||
| Q1 25 | — | 0.1% | ||
| Q4 24 | — | 0.2% | ||
| Q3 24 | — | 0.1% | ||
| Q2 24 | — | 0.5% | ||
| Q1 24 | — | 0.0% |
| Q4 25 | -8.92× | -0.14× | ||
| Q3 25 | 4.64× | 0.41× | ||
| Q2 25 | 3.03× | 0.31× | ||
| Q1 25 | 42.28× | 0.58× | ||
| Q4 24 | 4.55× | 0.78× | ||
| Q3 24 | 7.10× | -0.47× | ||
| Q2 24 | 4.55× | 0.19× | ||
| Q1 24 | 9.72× | 0.84× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ARES
| Management Service | $991.1M | 66% |
| Management Service Incentive | $206.7M | 14% |
| Carried Interest | $205.4M | 14% |
| Fee Related Performance Revenues | $113.3M | 8% |
MHO
| Southern Homebuilding | $615.6M | 54% |
| Northern Homebuilding | $503.9M | 44% |
| Financial Service | $27.8M | 2% |
| Land | $4.7M | 0% |
