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Ares Management Corp（ARES）与Evercore Inc.（EVR）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Evercore Inc.的1.2倍（$1.5B vs $1.3B）。Evercore Inc.净利率更高（15.7% vs 3.6%，领先12.1%）。Evercore Inc.同比增速更快（32.4% vs 19.5%）。过去两年Evercore Inc.的营收复合增速更高（48.9% vs 45.9%）
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。
Evercore Inc.（前称Evercore Partners）是1995年由罗杰·奥尔特曼、大卫·奥芬森德、奥斯汀·博伊特纳联合创立的全球独立投资银行咨询机构。成立至今，公司已为总规模超4.7万亿美元的并购、重组交易提供专业咨询服务，在全球投行业务领域拥有较高声誉。
ARES vs EVR — 直观对比
营收规模更大
ARES
是对方的1.2倍
$1.3B
营收增速更快
EVR
高出12.9%
19.5%
净利率更高
EVR
高出12.1%
3.6%
两年增速更快
EVR
近两年复合增速
45.9%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $1.5B | $1.3B |
| 净利润 | $54.2M | $204.0M |
| 毛利率 | — | — |
| 营业利润率 | 13.7% | 24.2% |
| 净利率 | 3.6% | 15.7% |
| 营收同比 | 19.5% | 32.4% |
| 净利润同比 | -69.4% | 45.2% |
| 每股收益（稀释后） | — | $4.80 |
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ARESEVR
| Q4 25 | $1.5B | $1.3B | ||
| Q3 25 | $1.7B | $1.0B | ||
| Q2 25 | $1.4B | $838.0M | ||
| Q1 25 | $1.1B | $699.0M | ||
| Q4 24 | $1.3B | $979.5M | ||
| Q3 24 | $1.1B | $738.4M | ||
| Q2 24 | $788.7M | $693.4M | ||
| Q1 24 | $707.4M | $585.0M |
净利润ARESEVR
| Q4 25 | $54.2M | $204.0M | ||
| Q3 25 | $288.9M | $144.6M | ||
| Q2 25 | $137.1M | $97.2M | ||
| Q1 25 | $47.2M | $146.2M | ||
| Q4 24 | $177.3M | $140.4M | ||
| Q3 24 | $118.5M | $78.4M | ||
| Q2 24 | $94.9M | $73.8M | ||
| Q1 24 | $73.0M | $85.7M |
营业利润率ARESEVR
| Q4 25 | 13.7% | 24.2% | ||
| Q3 25 | 39.3% | 20.8% | ||
| Q2 25 | 21.3% | 18.0% | ||
| Q1 25 | 13.0% | 16.0% | ||
| Q4 24 | 31.8% | 21.8% | ||
| Q3 24 | 29.0% | 16.7% | ||
| Q2 24 | 40.2% | 15.9% | ||
| Q1 24 | 32.7% | 14.8% |
净利率ARESEVR
| Q4 25 | 3.6% | 15.7% | ||
| Q3 25 | 17.4% | 13.8% | ||
| Q2 25 | 10.2% | 11.6% | ||
| Q1 25 | 4.3% | 20.9% | ||
| Q4 24 | 14.1% | 14.3% | ||
| Q3 24 | 10.5% | 10.6% | ||
| Q2 24 | 12.0% | 10.6% | ||
| Q1 24 | 10.3% | 14.6% |
每股收益（稀释后）ARESEVR
| Q4 25 | — | $4.80 | ||
| Q3 25 | — | $3.41 | ||
| Q2 25 | — | $2.36 | ||
| Q1 25 | — | $3.48 | ||
| Q4 24 | — | $3.32 | ||
| Q3 24 | — | $1.86 | ||
| Q2 24 | — | $1.81 | ||
| Q1 24 | — | $2.09 |
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 | — | $3.0B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $4.3B | $2.0B |
| 总资产 | $28.6B | $5.4B |
| 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ARESEVR
| Q4 25 | — | $3.0B | ||
| Q3 25 | — | $2.4B | ||
| Q2 25 | — | $1.7B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | — | $2.4B | ||
| Q3 24 | — | $1.8B | ||
| Q2 24 | — | $1.7B | ||
| Q1 24 | — | $1.4B |
股东权益ARESEVR
| Q4 25 | $4.3B | $2.0B | ||
| Q3 25 | $4.5B | $1.8B | ||
| Q2 25 | $4.4B | $1.7B | ||
| Q1 25 | $4.5B | $1.5B | ||
| Q4 24 | $3.5B | $1.7B | ||
| Q3 24 | $2.1B | $1.6B | ||
| Q2 24 | $2.0B | $1.5B | ||
| Q1 24 | $1.8B | $1.4B |
总资产ARESEVR
| Q4 25 | $28.6B | $5.4B | ||
| Q3 25 | $27.0B | $4.4B | ||
| Q2 25 | $27.3B | $3.7B | ||
| Q1 25 | $27.2B | $3.3B | ||
| Q4 24 | $24.9B | $4.2B | ||
| Q3 24 | $24.5B | $3.6B | ||
| Q2 24 | $24.2B | $3.3B | ||
| Q1 24 | $24.4B | $3.0B |
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 | $807.5M |
| 自由现金流经营现金流 - 资本支出 | — | $798.6M |
| 自由现金流率自由现金流/营收 | — | 61.6% |
| 资本支出强度资本支出/营收 | — | 0.7% |
| 现金转化率经营现金流/净利润 | -8.92× | 3.96× |
| 过去12个月自由现金流最近4个季度 | — | $1.2B |
8季度趋势，按日历期对齐
经营现金流ARESEVR
| Q4 25 | $-483.7M | $807.5M | ||
| Q3 25 | $1.3B | $560.9M | ||
| Q2 25 | $415.7M | $437.7M | ||
| Q1 25 | $2.0B | $-549.7M | ||
| Q4 24 | $807.6M | $686.4M | ||
| Q3 24 | $841.3M | $234.5M | ||
| Q2 24 | $432.2M | $348.5M | ||
| Q1 24 | $710.0M | $-281.2M |
自由现金流ARESEVR
| Q4 25 | — | $798.6M | ||
| Q3 25 | — | $541.5M | ||
| Q2 25 | — | $411.7M | ||
| Q1 25 | — | $-569.3M | ||
| Q4 24 | — | $673.1M | ||
| Q3 24 | — | $226.6M | ||
| Q2 24 | — | $340.7M | ||
| Q1 24 | — | $-282.3M |
自由现金流率ARESEVR
| Q4 25 | — | 61.6% | ||
| Q3 25 | — | 51.8% | ||
| Q2 25 | — | 49.1% | ||
| Q1 25 | — | -81.4% | ||
| Q4 24 | — | 68.7% | ||
| Q3 24 | — | 30.7% | ||
| Q2 24 | — | 49.1% | ||
| Q1 24 | — | -48.3% |
资本支出强度ARESEVR
| Q4 25 | — | 0.7% | ||
| Q3 25 | — | 1.9% | ||
| Q2 25 | — | 3.1% | ||
| Q1 25 | — | 2.8% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | — | 1.1% | ||
| Q2 24 | — | 1.1% | ||
| Q1 24 | — | 0.2% |
现金转化率ARESEVR
| Q4 25 | -8.92× | 3.96× | ||
| Q3 25 | 4.64× | 3.88× | ||
| Q2 25 | 3.03× | 4.50× | ||
| Q1 25 | 42.28× | -3.76× | ||
| Q4 24 | 4.55× | 4.89× | ||
| Q3 24 | 7.10× | 2.99× | ||
| Q2 24 | 4.55× | 4.72× | ||
| Q1 24 | 9.72× | -3.28× |
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% |
EVR
| Advisory Fees | $1.1B | 87% |
| Commissions And Related Revenue | $66.5M | 5% |
| Underwriting Fees | $49.5M | 4% |
| Other | $29.6M | 2% |
| Investment Management | $23.2M | 2% |
