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Ares Management Corp（ARES）与COHEN & STEERS, INC.（CNS）财务数据对比。点击上方公司名可切换其他公司
Ares Management Corp的季度营收约是COHEN & STEERS, INC.的10.5倍（$1.5B vs $143.8M），COHEN & STEERS, INC.净利率更高（24.3% vs 3.6%，领先20.7%），Ares Management Corp同比增速更快（19.5% vs 2.9%），过去两年Ares Management Corp的营收复合增速更高（45.9% vs 8.3%）
Ares Management Corp是一家全球知名的另类投资管理机构，业务覆盖信贷、私募股权及房地产三大投资领域。公司成立于1997年，在北美、欧洲、亚洲多地设有分支机构，为全球客户提供专业的另类资产管理服务。
科恩斯蒂尔是一家美国投资管理企业，专注于通过房地产投资信托（REIT）开展不动产证券投资，同时布局优先证券相关的另类收益类投资业务，在全球不动产和另类收益投资领域拥有专业的运营经验。
ARES vs CNS — 直观对比
营收规模更大
ARES
是对方的10.5倍
$143.8M
营收增速更快
ARES
高出16.7%
2.9%
净利率更高
CNS
高出20.7%
3.6%
两年增速更快
ARES
近两年复合增速
8.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.5B | $143.8M |
| 净利润 | $54.2M | $34.9M |
| 毛利率 | — | — |
| 营业利润率 | 13.7% | 28.0% |
| 净利率 | 3.6% | 24.3% |
| 营收同比 | 19.5% | 2.9% |
| 净利润同比 | -69.4% | -23.9% |
| 每股收益（稀释后） | — | $0.67 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收ARESCNS
| Q4 25 | $1.5B | $143.8M | ||
| Q3 25 | $1.7B | $141.7M | ||
| Q2 25 | $1.4B | $136.1M | ||
| Q1 25 | $1.1B | $134.5M | ||
| Q4 24 | $1.3B | $139.8M | ||
| Q3 24 | $1.1B | $133.2M | ||
| Q2 24 | $788.7M | $121.7M | ||
| Q1 24 | $707.4M | $122.7M |
净利润ARESCNS
| Q4 25 | $54.2M | $34.9M | ||
| Q3 25 | $288.9M | $41.7M | ||
| Q2 25 | $137.1M | $36.8M | ||
| Q1 25 | $47.2M | $39.8M | ||
| Q4 24 | $177.3M | $45.8M | ||
| Q3 24 | $118.5M | $39.7M | ||
| Q2 24 | $94.9M | $31.8M | ||
| Q1 24 | $73.0M | $34.0M |
营业利润率ARESCNS
| Q4 25 | 13.7% | 28.0% | ||
| Q3 25 | 39.3% | 34.5% | ||
| Q2 25 | 21.3% | 31.8% | ||
| Q1 25 | 13.0% | 33.6% | ||
| Q4 24 | 31.8% | 35.3% | ||
| Q3 24 | 29.0% | 33.7% | ||
| Q2 24 | 40.2% | 31.5% | ||
| Q1 24 | 32.7% | 32.8% |
净利率ARESCNS
| Q4 25 | 3.6% | 24.3% | ||
| Q3 25 | 17.4% | 29.4% | ||
| Q2 25 | 10.2% | 27.1% | ||
| Q1 25 | 4.3% | 29.6% | ||
| Q4 24 | 14.1% | 32.8% | ||
| Q3 24 | 10.5% | 29.8% | ||
| Q2 24 | 12.0% | 26.1% | ||
| Q1 24 | 10.3% | 27.7% |
每股收益（稀释后）ARESCNS
| Q4 25 | — | $0.67 | ||
| Q3 25 | — | $0.81 | ||
| Q2 25 | — | $0.72 | ||
| Q1 25 | — | $0.77 | ||
| Q4 24 | — | $0.89 | ||
| Q3 24 | — | $0.77 | ||
| Q2 24 | — | $0.63 | ||
| Q1 24 | — | $0.68 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | — | $145.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $4.3B | $562.0M |
| 总资产 | $28.6B | $876.7M |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资ARESCNS
| Q4 25 | — | $145.5M | ||
| Q3 25 | — | $98.1M | ||
| Q2 25 | — | $95.4M | ||
| Q1 25 | — | $65.2M | ||
| Q4 24 | — | $183.0M | ||
| Q3 24 | — | $106.5M | ||
| Q2 24 | — | $122.0M | ||
| Q1 24 | — | $99.5M |
股东权益ARESCNS
| Q4 25 | $4.3B | $562.0M | ||
| Q3 25 | $4.5B | $550.3M | ||
| Q2 25 | $4.4B | $528.5M | ||
| Q1 25 | $4.5B | $507.7M | ||
| Q4 24 | $3.5B | $511.7M | ||
| Q3 24 | $2.1B | $491.0M | ||
| Q2 24 | $2.0B | $463.2M | ||
| Q1 24 | $1.8B | $378.9M |
总资产ARESCNS
| Q4 25 | $28.6B | $876.7M | ||
| Q3 25 | $27.0B | $801.6M | ||
| Q2 25 | $27.3B | $751.0M | ||
| Q1 25 | $27.2B | $834.9M | ||
| Q4 24 | $24.9B | $812.4M | ||
| Q3 24 | $24.5B | $727.8M | ||
| Q2 24 | $24.2B | $784.1M | ||
| Q1 24 | $24.4B | $680.7M |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $-483.7M | $-120.4M |
| 自由现金流经营现金流 - 资本支出 | — | $-126.4M |
| 自由现金流率自由现金流/营收 | — | -87.9% |
| 资本支出强度资本支出/营收 | — | 4.2% |
| 现金转化率经营现金流/净利润 | -8.92× | -3.45× |
| 过去12个月自由现金流最近4个季度 | — | $-253.6M |
8季度趋势，按日历期对齐
经营现金流ARESCNS
| Q4 25 | $-483.7M | $-120.4M | ||
| Q3 25 | $1.3B | $55.1M | ||
| Q2 25 | $415.7M | $-67.6M | ||
| Q1 25 | $2.0B | $-108.9M | ||
| Q4 24 | $807.6M | $96.7M | ||
| Q3 24 | $841.3M | $25.6M | ||
| Q2 24 | $432.2M | $31.4M | ||
| Q1 24 | $710.0M | $4.9M |
自由现金流ARESCNS
| Q4 25 | — | $-126.4M | ||
| Q3 25 | — | $52.6M | ||
| Q2 25 | — | $-69.8M | ||
| Q1 25 | — | $-110.0M | ||
| Q4 24 | — | $85.0M | ||
| Q3 24 | — | $24.2M | ||
| Q2 24 | — | $27.1M | ||
| Q1 24 | — | $537.0K |
自由现金流率ARESCNS
| Q4 25 | — | -87.9% | ||
| Q3 25 | — | 37.1% | ||
| Q2 25 | — | -51.3% | ||
| Q1 25 | — | -81.8% | ||
| Q4 24 | — | 60.8% | ||
| Q3 24 | — | 18.2% | ||
| Q2 24 | — | 22.3% | ||
| Q1 24 | — | 0.4% |
资本支出强度ARESCNS
| Q4 25 | — | 4.2% | ||
| Q3 25 | — | 1.8% | ||
| Q2 25 | — | 1.6% | ||
| Q1 25 | — | 0.8% | ||
| Q4 24 | — | 8.3% | ||
| Q3 24 | — | 1.1% | ||
| Q2 24 | — | 3.5% | ||
| Q1 24 | — | 3.5% |
现金转化率ARESCNS
| Q4 25 | -8.92× | -3.45× | ||
| Q3 25 | 4.64× | 1.32× | ||
| Q2 25 | 3.03× | -1.84× | ||
| Q1 25 | 42.28× | -2.74× | ||
| Q4 24 | 4.55× | 2.11× | ||
| Q3 24 | 7.10× | 0.65× | ||
| Q2 24 | 4.55× | 0.99× | ||
| Q1 24 | 9.72× | 0.14× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
ARES
| Management Service | $991.1M | 66% |
| Management Service Incentive | $206.7M | 14% |
| Carried Interest | $205.4M | 14% |
| Fee Related Performance Revenues | $113.3M | 8% |
CNS
暂无分部数据
