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Ares Management Corp（ARES）与Gen Digital（GEN）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Gen Digital的1.2倍（$1.5B vs $1.2B），Gen Digital净利率更高（15.5% vs 3.6%，领先11.9%），Gen Digital同比增速更快（28.5% vs 19.5%），过去两年Ares Management Corp的营收复合增速更高（45.9% vs 13.2%）
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。
Gen Digital是一家跨国软件企业，双总部分别设于美国亚利桑那州坦佩和欧盟捷克布拉格，是财富500强企业及标普500指数成分股，同时在纳斯达克与布拉格证券交易所挂牌上市。公司主营网络安全软件、金融科技及相关服务，旗下拥有诺顿、Avast、LifeLock、AVG、CCleaner等多个知名品牌。
ARES vs GEN — 直观对比
营收规模更大
ARES
是对方的1.2倍
$1.2B
营收增速更快
GEN
高出9.0%
19.5%
净利率更高
GEN
高出11.9%
3.6%
两年增速更快
ARES
近两年复合增速
13.2%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.5B | $1.2B |
| 净利润 | $54.2M | $192.0M |
| 毛利率 | — | 78.4% |
| 营业利润率 | 13.7% | 34.9% |
| 净利率 | 3.6% | 15.5% |
| 营收同比 | 19.5% | 28.5% |
| 净利润同比 | -69.4% | 6.1% |
| 每股收益（稀释后） | — | $0.31 |
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ARESGEN
| Q1 26 | — | $1.2B | ||
| Q4 25 | $1.5B | $1.2B | ||
| Q3 25 | $1.7B | $1.3B | ||
| Q2 25 | $1.4B | — | ||
| Q1 25 | $1.1B | $1.0B | ||
| Q4 24 | $1.3B | $986.0M | ||
| Q3 24 | $1.1B | $974.0M | ||
| Q2 24 | $788.7M | $965.0M |
净利润ARESGEN
| Q1 26 | — | $192.0M | ||
| Q4 25 | $54.2M | $134.0M | ||
| Q3 25 | $288.9M | $135.0M | ||
| Q2 25 | $137.1M | — | ||
| Q1 25 | $47.2M | $142.0M | ||
| Q4 24 | $177.3M | $159.0M | ||
| Q3 24 | $118.5M | $161.0M | ||
| Q2 24 | $94.9M | $181.0M |
毛利率ARESGEN
| Q1 26 | — | 78.4% | ||
| Q4 25 | — | 78.2% | ||
| Q3 25 | — | 78.8% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 80.3% | ||
| Q4 24 | — | 80.4% | ||
| Q3 24 | — | 80.1% | ||
| Q2 24 | — | 80.3% |
营业利润率ARESGEN
| Q1 26 | — | 34.9% | ||
| Q4 25 | 13.7% | 35.9% | ||
| Q3 25 | 39.3% | 35.5% | ||
| Q2 25 | 21.3% | — | ||
| Q1 25 | 13.0% | 41.3% | ||
| Q4 24 | 31.8% | 37.9% | ||
| Q3 24 | 29.0% | 41.3% | ||
| Q2 24 | 40.2% | 43.2% |
净利率ARESGEN
| Q1 26 | — | 15.5% | ||
| Q4 25 | 3.6% | 11.0% | ||
| Q3 25 | 17.4% | 10.7% | ||
| Q2 25 | 10.2% | — | ||
| Q1 25 | 4.3% | 14.1% | ||
| Q4 24 | 14.1% | 16.1% | ||
| Q3 24 | 10.5% | 16.5% | ||
| Q2 24 | 12.0% | 18.8% |
每股收益（稀释后）ARESGEN
| Q1 26 | — | $0.31 | ||
| Q4 25 | — | $0.21 | ||
| Q3 25 | — | $0.22 | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $0.22 | ||
| Q4 24 | — | $0.26 | ||
| Q3 24 | — | $0.26 | ||
| Q2 24 | — | $0.29 |
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 | — | — |
| 总债务越低越好 | — | $8.4B |
| 股东权益账面价值 | $4.3B | $2.3B |
| 总资产 | $28.6B | $15.8B |
| 负债/权益比越低杠杆越低 | — | 3.61× |
8季度趋势，按日历期对齐
现金及短期投资ARESGEN
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $1.0B | ||
| Q4 24 | — | $883.0M | ||
| Q3 24 | — | $737.0M | ||
| Q2 24 | — | $644.0M |
总债务ARESGEN
| Q1 26 | — | $8.4B | ||
| Q4 25 | — | $8.7B | ||
| Q3 25 | — | $8.9B | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $8.3B | ||
| Q4 24 | — | $8.5B | ||
| Q3 24 | — | $8.5B | ||
| Q2 24 | — | $8.5B |
股东权益ARESGEN
| Q1 26 | — | $2.3B | ||
| Q4 25 | $4.3B | $2.5B | ||
| Q3 25 | $4.5B | $2.4B | ||
| Q2 25 | $4.4B | — | ||
| Q1 25 | $4.5B | $2.3B | ||
| Q4 24 | $3.5B | $2.2B | ||
| Q3 24 | $2.1B | $2.1B | ||
| Q2 24 | $2.0B | $2.0B |
总资产ARESGEN
| Q1 26 | — | $15.8B | ||
| Q4 25 | $28.6B | $16.1B | ||
| Q3 25 | $27.0B | $16.4B | ||
| Q2 25 | $27.3B | — | ||
| Q1 25 | $27.2B | $15.5B | ||
| Q4 24 | $24.9B | $15.4B | ||
| Q3 24 | $24.5B | $15.5B | ||
| Q2 24 | $24.2B | $15.4B |
负债/权益比ARESGEN
| Q1 26 | — | 3.61× | ||
| Q4 25 | — | 3.54× | ||
| Q3 25 | — | 3.75× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 3.64× | ||
| Q4 24 | — | 3.94× | ||
| Q3 24 | — | 4.06× | ||
| Q2 24 | — | 4.33× |
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 | — |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | -8.92× | — |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流ARESGEN
| Q1 26 | — | — | ||
| Q4 25 | $-483.7M | $541.0M | ||
| Q3 25 | $1.3B | $409.0M | ||
| Q2 25 | $415.7M | — | ||
| Q1 25 | $2.0B | $473.0M | ||
| Q4 24 | $807.6M | $326.0M | ||
| Q3 24 | $841.3M | $158.0M | ||
| Q2 24 | $432.2M | $264.0M |
自由现金流ARESGEN
| Q1 26 | — | — | ||
| Q4 25 | — | $535.0M | ||
| Q3 25 | — | $405.0M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $470.0M | ||
| Q4 24 | — | $318.0M | ||
| Q3 24 | — | $156.0M | ||
| Q2 24 | — | $262.0M |
自由现金流率ARESGEN
| Q1 26 | — | — | ||
| Q4 25 | — | 43.9% | ||
| Q3 25 | — | 32.2% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 46.5% | ||
| Q4 24 | — | 32.3% | ||
| Q3 24 | — | 16.0% | ||
| Q2 24 | — | 27.2% |
资本支出强度ARESGEN
| Q1 26 | — | — | ||
| Q4 25 | — | 0.5% | ||
| Q3 25 | — | 0.3% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.3% | ||
| Q4 24 | — | 0.8% | ||
| Q3 24 | — | 0.2% | ||
| Q2 24 | — | 0.2% |
现金转化率ARESGEN
| Q1 26 | — | — | ||
| Q4 25 | -8.92× | 4.04× | ||
| Q3 25 | 4.64× | 3.03× | ||
| Q2 25 | 3.03× | — | ||
| Q1 25 | 42.28× | 3.33× | ||
| Q4 24 | 4.55× | 2.05× | ||
| Q3 24 | 7.10× | 0.98× | ||
| Q2 24 | 4.55× | 1.46× |
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% |
GEN
| Cyber Safety Platform | $819.0M | 66% |
| Trust Based Solutions | $421.0M | 34% |
| Net Interest Income On Notes Receivable | $4.0M | 0% |
