Ares Management (HAM:0QN) Cyclically Adjusted PS Ratio: (As of Aug. 08, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

HAM:0QN Ares Management Corp HAM:0QN
82 GF Score
Price €118.50
GF Value €157.44
! 7 Warning Signs
View Full Analysis

What is Ares Management Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Ares Management  (HAM:0QN) Cyclically Adjusted PS Ratio Explanation

Compared with the regular PS Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PS Ratio smoothed out the fluctuations of revenue during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PS Ratio should give similar results to regular PS Ratio.


Ares Management Cyclically Adjusted PS Ratio Related Terms


Ares Management Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Ares Management's Cyclically Adjusted PS Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Ares Management Cyclically Adjusted PS Ratio Chart

Ares Management Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 4.52 7.12 9.76 8.15

Ares Management Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PS Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 9.20 8.21 8.15 5.30 0.00

HAM:0QN vs TROW, RJF, PFG: Cyclically Adjusted PS Ratio Comparison

For the Asset Management subindustry, Ares Management's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Ares Management Cyclically Adjusted PS Ratio vs Asset Management Industry

For the Asset Management industry and Financial Services sector, Ares Management's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where Ares Management's Cyclically Adjusted PS Ratio falls into.


HAM:0QN
82GF Score
Ares Management Corp HAM:0QN
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Ares Management Cyclically Adjusted PS Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PS Ratio takes the Revenue per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/S calculation. Because it considers this 10-year average, it's often referred to as the CAPS Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio.

Ares Management's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Ares Management's adjusted Revenue per Share data for the three months ended in Jun. 2026 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=5.479/333.9520*333.9520
=5.479

Current CPI (Jun. 2026) = 333.9520.

Ares Management Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 3.539 241.428 4.895
201612 4.679 241.432 6.472
201703 2.816 243.801 3.857
201706 6.040 244.955 8.234
201709 2.945 246.819 3.985
201712 3.854 246.524 5.221
201803 1.009 249.554 1.350
201806 1.783 251.989 2.363
201809 2.091 252.439 2.766
201812 2.141 251.233 2.846
201903 3.815 254.202 5.012
201906 2.921 256.143 3.808
201909 3.475 256.759 4.520
201912 3.019 256.974 3.923
202003 0.103 258.115 0.133
202006 3.644 257.797 4.720
202009 2.630 260.280 3.374
202012 2.672 260.474 3.426
202103 3.379 264.877 4.260
202106 5.937 271.696 7.297
202109 4.323 274.310 5.263
202112 6.134 278.802 7.347
202203 3.727 287.504 4.329
202206 3.248 296.311 3.661
202209 4.608 296.808 5.185
202212 5.001 296.797 5.627
202303 4.245 301.836 4.697
202306 5.200 305.109 5.692
202309 3.378 307.789 3.665
202312 4.116 306.746 4.481
202403 3.378 312.332 3.612
202406 3.735 314.175 3.970
202409 5.071 315.301 5.371
202412 5.933 315.605 6.278
202503 4.811 319.799 5.024
202506 5.347 322.561 5.536
202509 6.423 324.800 6.604
202512 5.810 324.054 5.987
202603 5.392 330.213 5.453
202606 5.479 333.952 5.479

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

Is Ares Management (HAM:0QN) Overvalued in 2026?

Based on GuruFocus' analysis, Ares Management stock appears to be undervalued. The current stock price of €118.50 is trading 24.7% below its estimated GF Value™ of €157.44.

Key valuation signals for HAM:0QN:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: €157.44 vs. price of €118.50 (24.7% below fair value)
  • GF Score™: 82/100 with 7 warning signs

No single metric tells the full story. See the HAM:0QN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Ares Management Business Description

Address 1800 Avenue of the Stars, Suite 1400, Los Angeles, CA, USA, 90067
Ares Management is one of the world's largest alternative-asset managers, with $622.5 billion in total assets under management, or AUM, including $384.9 billion in fee-earning AUM, at the end of 2025. The company has four main business segments: credit strategies ($406.9 billion in total AUM and $249.8 billion in fee-earning AUM), private equity, ($25.3 billion/$14.4 billion), real estate/real assets ($139.1 billion/$84.1 billion), and other alternatives ($51.2 billion/$36.6 billion). The firm primarily serves institutional investors (80% of AUM) and high-net-worth individuals (20%). Ares operates through more than 35 offices in over 15 countries around the globe.
82GF Score

Get the complete analysis for HAM:0QN

Cyclically Adjusted PS Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€118.50
Price
€157.44
GF Value