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Ares Management Corp（ARES）与IES Holdings, Inc.（IESC）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IES Holdings, Inc.的1.7倍（$1.5B vs $871.0M），IES Holdings, Inc.净利率更高（10.5% vs 3.6%，领先6.9%），Ares Management Corp同比增速更快（19.5% vs 16.2%），过去两年Ares Management Corp的营收复合增速更高（45.9% vs 11.1%）
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。
IES Holdings, Inc.前身为Integrated Electrical Services, Inc.，主营业务为集成电气及技术系统的设计与安装，同时面向数据中心、住宅、商业和工业设施等多元终端市场提供基础设施类产品及相关服务。
ARES vs IESC — 直观对比
营收规模更大
ARES
是对方的1.7倍
$871.0M
营收增速更快
ARES
高出3.3%
16.2%
净利率更高
IESC
高出6.9%
3.6%
两年增速更快
ARES
近两年复合增速
11.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.5B | $871.0M |
| 净利润 | $54.2M | $91.8M |
| 毛利率 | — | 25.3% |
| 营业利润率 | 13.7% | 11.2% |
| 净利率 | 3.6% | 10.5% |
| 营收同比 | 19.5% | 16.2% |
| 净利润同比 | -69.4% | 59.1% |
| 每股收益（稀释后） | — | $4.51 |
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ARESIESC
| Q4 25 | $1.5B | $871.0M | ||
| Q3 25 | $1.7B | $897.8M | ||
| Q2 25 | $1.4B | $890.2M | ||
| Q1 25 | $1.1B | $834.0M | ||
| Q4 24 | $1.3B | $749.5M | ||
| Q3 24 | $1.1B | $775.8M | ||
| Q2 24 | $788.7M | $768.4M | ||
| Q1 24 | $707.4M | $705.7M |
净利润ARESIESC
| Q4 25 | $54.2M | $91.8M | ||
| Q3 25 | $288.9M | $102.3M | ||
| Q2 25 | $137.1M | $79.3M | ||
| Q1 25 | $47.2M | $72.6M | ||
| Q4 24 | $177.3M | $57.7M | ||
| Q3 24 | $118.5M | $65.5M | ||
| Q2 24 | $94.9M | $66.6M | ||
| Q1 24 | $73.0M | $56.8M |
毛利率ARESIESC
| Q4 25 | — | 25.3% | ||
| Q3 25 | — | 26.0% | ||
| Q2 25 | — | 26.9% | ||
| Q1 25 | — | 25.0% | ||
| Q4 24 | — | 23.8% | ||
| Q3 24 | — | 24.0% | ||
| Q2 24 | — | 25.3% | ||
| Q1 24 | — | 24.3% |
营业利润率ARESIESC
| Q4 25 | 13.7% | 11.2% | ||
| Q3 25 | 39.3% | 11.6% | ||
| Q2 25 | 21.3% | 12.6% | ||
| Q1 25 | 13.0% | 11.1% | ||
| Q4 24 | 31.8% | 10.0% | ||
| Q3 24 | 29.0% | 9.7% | ||
| Q2 24 | 40.2% | 11.7% | ||
| Q1 24 | 32.7% | 11.0% |
净利率ARESIESC
| Q4 25 | 3.6% | 10.5% | ||
| Q3 25 | 17.4% | 11.4% | ||
| Q2 25 | 10.2% | 8.9% | ||
| Q1 25 | 4.3% | 8.7% | ||
| Q4 24 | 14.1% | 7.7% | ||
| Q3 24 | 10.5% | 8.4% | ||
| Q2 24 | 12.0% | 8.7% | ||
| Q1 24 | 10.3% | 8.0% |
每股收益（稀释后）ARESIESC
| Q4 25 | — | $4.51 | ||
| Q3 25 | — | $4.99 | ||
| Q2 25 | — | $3.81 | ||
| Q1 25 | — | $3.50 | ||
| Q4 24 | — | $2.72 | ||
| Q3 24 | — | $3.06 | ||
| Q2 24 | — | $2.67 | ||
| Q1 24 | — | $2.29 |
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 | — | $258.7M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $4.3B | $961.1M |
| 总资产 | $28.6B | $1.7B |
| 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ARESIESC
| Q4 25 | — | $258.7M | ||
| Q3 25 | — | $231.8M | ||
| Q2 25 | — | $168.3M | ||
| Q1 25 | — | $88.3M | ||
| Q4 24 | — | $112.0M | ||
| Q3 24 | — | $135.8M | ||
| Q2 24 | — | $44.9M | ||
| Q1 24 | — | $106.0M |
股东权益ARESIESC
| Q4 25 | $4.3B | $961.1M | ||
| Q3 25 | $4.5B | $884.0M | ||
| Q2 25 | $4.4B | $781.4M | ||
| Q1 25 | $4.5B | $705.8M | ||
| Q4 24 | $3.5B | $652.4M | ||
| Q3 24 | $2.1B | $611.1M | ||
| Q2 24 | $2.0B | $567.5M | ||
| Q1 24 | $1.8B | $534.8M |
总资产ARESIESC
| Q4 25 | $28.6B | $1.7B | ||
| Q3 25 | $27.0B | $1.6B | ||
| Q2 25 | $27.3B | $1.5B | ||
| Q1 25 | $27.2B | $1.4B | ||
| Q4 24 | $24.9B | $1.3B | ||
| Q3 24 | $24.5B | $1.2B | ||
| Q2 24 | $24.2B | $1.2B | ||
| Q1 24 | $24.4B | $1.1B |
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 | $27.7M |
| 自由现金流经营现金流 - 资本支出 | — | $-18.9M |
| 自由现金流率自由现金流/营收 | — | -2.2% |
| 资本支出强度资本支出/营收 | — | 5.3% |
| 现金转化率经营现金流/净利润 | -8.92× | 0.30× |
| 过去12个月自由现金流最近4个季度 | — | $175.9M |
8季度趋势，按日历期对齐
经营现金流ARESIESC
| Q4 25 | $-483.7M | $27.7M | ||
| Q3 25 | $1.3B | $132.0M | ||
| Q2 25 | $415.7M | $92.0M | ||
| Q1 25 | $2.0B | $24.8M | ||
| Q4 24 | $807.6M | $37.3M | ||
| Q3 24 | $841.3M | $92.8M | ||
| Q2 24 | $432.2M | $82.9M | ||
| Q1 24 | $710.0M | $33.7M |
自由现金流ARESIESC
| Q4 25 | — | $-18.9M | ||
| Q3 25 | — | $112.0M | ||
| Q2 25 | — | $74.8M | ||
| Q1 25 | — | $7.9M | ||
| Q4 24 | — | $24.1M | ||
| Q3 24 | — | $78.5M | ||
| Q2 24 | — | $65.4M | ||
| Q1 24 | — | $26.9M |
自由现金流率ARESIESC
| Q4 25 | — | -2.2% | ||
| Q3 25 | — | 12.5% | ||
| Q2 25 | — | 8.4% | ||
| Q1 25 | — | 0.9% | ||
| Q4 24 | — | 3.2% | ||
| Q3 24 | — | 10.1% | ||
| Q2 24 | — | 8.5% | ||
| Q1 24 | — | 3.8% |
资本支出强度ARESIESC
| Q4 25 | — | 5.3% | ||
| Q3 25 | — | 2.2% | ||
| Q2 25 | — | 1.9% | ||
| Q1 25 | — | 2.0% | ||
| Q4 24 | — | 1.8% | ||
| Q3 24 | — | 1.8% | ||
| Q2 24 | — | 2.3% | ||
| Q1 24 | — | 1.0% |
现金转化率ARESIESC
| Q4 25 | -8.92× | 0.30× | ||
| Q3 25 | 4.64× | 1.29× | ||
| Q2 25 | 3.03× | 1.16× | ||
| Q1 25 | 42.28× | 0.34× | ||
| Q4 24 | 4.55× | 0.65× | ||
| Q3 24 | 7.10× | 1.42× | ||
| Q2 24 | 4.55× | 1.24× | ||
| Q1 24 | 9.72× | 0.59× |
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% |
IESC
| Communications | $351.9M | 40% |
| Single Family Electrical Contracts | $137.0M | 16% |
| Custom Engineered Solutions | $116.0M | 13% |
| Commercialand Industrial | $94.8M | 11% |
| Single Family Contracts Plumbing HVAC | $82.9M | 10% |
| Multi Familyand Other | $64.2M | 7% |
| Industrial Services | $24.2M | 3% |
