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Ares Management Corp（ARES）与Masco（MAS）财务数据对比。点击上方公司名可切换其他公司
Masco的季度营收约是Ares Management Corp的1.3倍（$1.9B vs $1.5B），Masco净利率更高（11.9% vs 3.6%，领先8.3%），Ares Management Corp同比增速更快（19.5% vs 6.5%），过去两年Ares Management Corp的营收复合增速更高（45.9% vs -4.2%）
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。
美国家居建材企业Masco主营家装及新建住宅市场相关产品，旗下拥有20余家子公司，在全球运营近80座生产工厂，其中美国本土近60座，海外地区超20座。公司1969年于纽交所挂牌上市，后实现快速增长，成功跻身美国财富500强榜单。
ARES vs MAS — 直观对比
营收规模更大
MAS
是对方的1.3倍
$1.5B
营收增速更快
ARES
高出13.0%
6.5%
净利率更高
MAS
高出8.3%
3.6%
两年增速更快
ARES
近两年复合增速
-4.2%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.5B | $1.9B |
| 净利润 | $54.2M | $228.0M |
| 毛利率 | — | 35.8% |
| 营业利润率 | 13.7% | 16.5% |
| 净利率 | 3.6% | 11.9% |
| 营收同比 | 19.5% | 6.5% |
| 净利润同比 | -69.4% | 14.5% |
| 每股收益（稀释后） | — | — |
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ARESMAS
| Q1 26 | — | $1.9B | ||
| Q4 25 | $1.5B | $1.8B | ||
| Q3 25 | $1.7B | $1.9B | ||
| Q2 25 | $1.4B | $2.1B | ||
| Q1 25 | $1.1B | $1.8B | ||
| Q4 24 | $1.3B | $1.8B | ||
| Q3 24 | $1.1B | $2.0B | ||
| Q2 24 | $788.7M | $2.1B |
净利润ARESMAS
| Q1 26 | — | $228.0M | ||
| Q4 25 | $54.2M | $165.0M | ||
| Q3 25 | $288.9M | $189.0M | ||
| Q2 25 | $137.1M | $270.0M | ||
| Q1 25 | $47.2M | $186.0M | ||
| Q4 24 | $177.3M | $182.0M | ||
| Q3 24 | $118.5M | $167.0M | ||
| Q2 24 | $94.9M | $258.0M |
毛利率ARESMAS
| Q1 26 | — | 35.8% | ||
| Q4 25 | — | 33.9% | ||
| Q3 25 | — | 34.2% | ||
| Q2 25 | — | 37.6% | ||
| Q1 25 | — | 35.8% | ||
| Q4 24 | — | 34.8% | ||
| Q3 24 | — | 36.6% | ||
| Q2 24 | — | 37.5% |
营业利润率ARESMAS
| Q1 26 | — | 16.5% | ||
| Q4 25 | 13.7% | 13.8% | ||
| Q3 25 | 39.3% | 15.8% | ||
| Q2 25 | 21.3% | 20.1% | ||
| Q1 25 | 13.0% | 15.9% | ||
| Q4 24 | 31.8% | 15.9% | ||
| Q3 24 | 29.0% | 18.0% | ||
| Q2 24 | 40.2% | 19.0% |
净利率ARESMAS
| Q1 26 | — | 11.9% | ||
| Q4 25 | 3.6% | 9.2% | ||
| Q3 25 | 17.4% | 9.9% | ||
| Q2 25 | 10.2% | 13.2% | ||
| Q1 25 | 4.3% | 10.3% | ||
| Q4 24 | 14.1% | 10.0% | ||
| Q3 24 | 10.5% | 8.4% | ||
| Q2 24 | 12.0% | 12.3% |
每股收益（稀释后）ARESMAS
| Q1 26 | — | — | ||
| Q4 25 | — | $0.81 | ||
| Q3 25 | — | $0.90 | ||
| Q2 25 | — | $1.28 | ||
| Q1 25 | — | $0.87 | ||
| Q4 24 | — | $0.85 | ||
| Q3 24 | — | $0.77 | ||
| Q2 24 | — | $1.17 |
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 | — | $2.9B |
| 股东权益账面价值 | $4.3B | $27.0M |
| 总资产 | $28.6B | $5.2B |
| 负债/权益比越低杠杆越低 | — | 109.07× |
8季度趋势，按日历期对齐
现金及短期投资ARESMAS
| Q1 26 | — | — | ||
| Q4 25 | — | $647.0M | ||
| Q3 25 | — | $559.0M | ||
| Q2 25 | — | $390.0M | ||
| Q1 25 | — | $377.0M | ||
| Q4 24 | — | $634.0M | ||
| Q3 24 | — | $646.0M | ||
| Q2 24 | — | $398.0M |
总债务ARESMAS
| Q1 26 | — | $2.9B | ||
| Q4 25 | — | $2.9B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $2.9B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益ARESMAS
| Q1 26 | — | $27.0M | ||
| Q4 25 | $4.3B | $-185.0M | ||
| Q3 25 | $4.5B | $-78.0M | ||
| Q2 25 | $4.4B | $-84.0M | ||
| Q1 25 | $4.5B | $-254.0M | ||
| Q4 24 | $3.5B | $-279.0M | ||
| Q3 24 | $2.1B | $-88.0M | ||
| Q2 24 | $2.0B | $-26.0M |
总资产ARESMAS
| Q1 26 | — | $5.2B | ||
| Q4 25 | $28.6B | $5.2B | ||
| Q3 25 | $27.0B | $5.3B | ||
| Q2 25 | $27.3B | $5.3B | ||
| Q1 25 | $27.2B | $5.1B | ||
| Q4 24 | $24.9B | $5.0B | ||
| Q3 24 | $24.5B | $5.3B | ||
| Q2 24 | $24.2B | $5.4B |
负债/权益比ARESMAS
| Q1 26 | — | 109.07× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — | 1.8% |
| 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ARESMAS
| Q1 26 | — | — | ||
| Q4 25 | $-483.7M | $418.0M | ||
| Q3 25 | $1.3B | $456.0M | ||
| Q2 25 | $415.7M | $306.0M | ||
| Q1 25 | $2.0B | $-158.0M | ||
| Q4 24 | $807.6M | $407.0M | ||
| Q3 24 | $841.3M | $416.0M | ||
| Q2 24 | $432.2M | $346.0M |
自由现金流ARESMAS
| Q1 26 | — | — | ||
| Q4 25 | — | $371.0M | ||
| Q3 25 | — | $415.0M | ||
| Q2 25 | — | $270.0M | ||
| Q1 25 | — | $-190.0M | ||
| Q4 24 | — | $351.0M | ||
| Q3 24 | — | $378.0M | ||
| Q2 24 | — | $303.0M |
自由现金流率ARESMAS
| Q1 26 | — | — | ||
| Q4 25 | — | 20.7% | ||
| Q3 25 | — | 21.6% | ||
| Q2 25 | — | 13.2% | ||
| Q1 25 | — | -10.5% | ||
| Q4 24 | — | 19.2% | ||
| Q3 24 | — | 19.1% | ||
| Q2 24 | — | 14.5% |
资本支出强度ARESMAS
| Q1 26 | — | 1.8% | ||
| Q4 25 | — | 2.6% | ||
| Q3 25 | — | 2.1% | ||
| Q2 25 | — | 1.8% | ||
| Q1 25 | — | 1.8% | ||
| Q4 24 | — | 3.1% | ||
| Q3 24 | — | 1.9% | ||
| Q2 24 | — | 2.1% |
现金转化率ARESMAS
| Q1 26 | — | — | ||
| Q4 25 | -8.92× | 2.53× | ||
| Q3 25 | 4.64× | 2.41× | ||
| Q2 25 | 3.03× | 1.13× | ||
| Q1 25 | 42.28× | -0.85× | ||
| Q4 24 | 4.55× | 2.24× | ||
| Q3 24 | 7.10× | 2.49× | ||
| Q2 24 | 4.55× | 1.34× |
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% |
MAS
暂无分部数据
