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Ares Management Corp（ARES）与PACS Group, Inc.（PACS）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PACS Group, Inc.的1.1倍（$1.5B vs $1.4B），PACS Group, Inc.净利率更高（4.4% vs 3.6%，领先0.8%），Ares Management Corp同比增速更快（19.5% vs 18.4%），过去两年Ares Management Corp的营收复合增速更高（45.9% vs 20.5%）
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。
ARES vs PACS — 直观对比
营收规模更大
ARES
是对方的1.1倍
$1.4B
营收增速更快
ARES
高出1.1%
18.4%
净利率更高
PACS
高出0.8%
3.6%
两年增速更快
ARES
近两年复合增速
20.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.5B | $1.4B |
| 净利润 | $54.2M | $59.7M |
| 毛利率 | — | — |
| 营业利润率 | 13.7% | 7.0% |
| 净利率 | 3.6% | 4.4% |
| 营收同比 | 19.5% | 18.4% |
| 净利润同比 | -69.4% | 3022.5% |
| 每股收益（稀释后） | — | $0.42 |
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ARESPACS
| Q4 25 | $1.5B | $1.4B | ||
| Q3 25 | $1.7B | $1.3B | ||
| Q2 25 | $1.4B | $1.3B | ||
| Q1 25 | $1.1B | $1.3B | ||
| Q4 24 | $1.3B | $1.1B | ||
| Q3 24 | $1.1B | $1.0B | ||
| Q2 24 | $788.7M | $981.4M | ||
| Q1 24 | $707.4M | $934.3M |
净利润ARESPACS
| Q4 25 | $54.2M | $59.7M | ||
| Q3 25 | $288.9M | $52.4M | ||
| Q2 25 | $137.1M | $51.0M | ||
| Q1 25 | $47.2M | $28.5M | ||
| Q4 24 | $177.3M | $1.9M | ||
| Q3 24 | $118.5M | $15.6M | ||
| Q2 24 | $94.9M | $-10.9M | ||
| Q1 24 | $73.0M | $49.1M |
毛利率ARESPACS
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 17.1% | ||
| Q2 24 | — | 22.3% | ||
| Q1 24 | — | 21.2% |
营业利润率ARESPACS
| Q4 25 | 13.7% | 7.0% | ||
| Q3 25 | 39.3% | 6.4% | ||
| Q2 25 | 21.3% | 6.2% | ||
| Q1 25 | 13.0% | 3.8% | ||
| Q4 24 | 31.8% | 1.7% | ||
| Q3 24 | 29.0% | 2.2% | ||
| Q2 24 | 40.2% | 0.1% | ||
| Q1 24 | 32.7% | 8.6% |
净利率ARESPACS
| Q4 25 | 3.6% | 4.4% | ||
| Q3 25 | 17.4% | 3.9% | ||
| Q2 25 | 10.2% | 3.9% | ||
| Q1 25 | 4.3% | 2.2% | ||
| Q4 24 | 14.1% | 0.2% | ||
| Q3 24 | 10.5% | 1.5% | ||
| Q2 24 | 12.0% | -1.1% | ||
| Q1 24 | 10.3% | 5.3% |
每股收益（稀释后）ARESPACS
| Q4 25 | — | $0.42 | ||
| Q3 25 | — | $0.32 | ||
| Q2 25 | — | $0.31 | ||
| Q1 25 | — | $0.17 | ||
| Q4 24 | — | $-0.03 | ||
| Q3 24 | — | $0.10 | ||
| Q2 24 | — | $-0.07 | ||
| Q1 24 | — | $0.38 |
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 | — | $197.0M |
| 总债务越低越好 | — | $353.2M |
| 股东权益账面价值 | $4.3B | $946.8M |
| 总资产 | $28.6B | $5.6B |
| 负债/权益比越低杠杆越低 | — | 0.37× |
8季度趋势，按日历期对齐
现金及短期投资ARESPACS
| Q4 25 | — | $197.0M | ||
| Q3 25 | — | $355.7M | ||
| Q2 25 | — | $294.2M | ||
| Q1 25 | — | $287.5M | ||
| Q4 24 | — | $157.7M | ||
| Q3 24 | — | $49.5M | ||
| Q2 24 | — | $73.4M | ||
| Q1 24 | — | $81.2M |
总债务ARESPACS
| Q4 25 | — | $353.2M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $411.9M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益ARESPACS
| Q4 25 | $4.3B | $946.8M | ||
| Q3 25 | $4.5B | $871.3M | ||
| Q2 25 | $4.4B | $806.8M | ||
| Q1 25 | $4.5B | $750.2M | ||
| Q4 24 | $3.5B | $709.6M | ||
| Q3 24 | $2.1B | $660.0M | ||
| Q2 24 | $2.0B | $572.1M | ||
| Q1 24 | $1.8B | $128.0M |
总资产ARESPACS
| Q4 25 | $28.6B | $5.6B | ||
| Q3 25 | $27.0B | $5.6B | ||
| Q2 25 | $27.3B | $5.5B | ||
| Q1 25 | $27.2B | $5.5B | ||
| Q4 24 | $24.9B | $5.2B | ||
| Q3 24 | $24.5B | $4.5B | ||
| Q2 24 | $24.2B | $3.9B | ||
| Q1 24 | $24.4B | $3.9B |
负债/权益比ARESPACS
| Q4 25 | — | 0.37× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.58× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $-3.4M |
| 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× | -0.06× |
| 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ARESPACS
| Q4 25 | $-483.7M | $-3.4M | ||
| Q3 25 | $1.3B | $204.8M | ||
| Q2 25 | $415.7M | $52.6M | ||
| Q1 25 | $2.0B | $150.2M | ||
| Q4 24 | $807.6M | $64.6M | ||
| Q3 24 | $841.3M | $209.2M | ||
| Q2 24 | $432.2M | $34.8M | ||
| Q1 24 | $710.0M | $58.8M |
现金转化率ARESPACS
| Q4 25 | -8.92× | -0.06× | ||
| Q3 25 | 4.64× | 3.91× | ||
| Q2 25 | 3.03× | 1.03× | ||
| Q1 25 | 42.28× | 5.28× | ||
| Q4 24 | 4.55× | 33.78× | ||
| Q3 24 | 7.10× | 13.39× | ||
| Q2 24 | 4.55× | — | ||
| Q1 24 | 9.72× | 1.20× |
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% |
PACS
暂无分部数据
