Ares ManagementARES -2.97%78 Piotroski F-Score is 8 as of Jun. 26, 2026, which is 60% above its 10-year median of 5.00. GuruFocus rates ARES with a GF Score™ of 78/100 and a GF Value™ of $185.68 (Possible Value Trap). The stock has 7 warning signs investors should review. Among 1,597 Asset Management companies, Ares Management ranks better than 99.25% on this metric.
Good Sign:
Piotroski F-Score is 8, indicates a very healthy situation.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Ares Management has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.
The historical rank and industry rank for Ares Management's Piotroski F-Score or its related term are showing as below:
ARES'
s Piotroski F-Score Range Over the Past 10 Years
Min: 1 Med: 5 Max: 8
Current: 8
During the past 13 years, the highest Piotroski F-Score of Ares Management was 8. The lowest was 1. And the median was 5.
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
Ares Management Piotroski F-Score Related Terms
Ares Management Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Ares Management's Piotroski F-Score 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 vs RJF, NTRS, TROW: Piotroski F-Score Comparison
For the Asset Management subindustry, Ares Management's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score 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 Piotroski F-Score vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Ares Management's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Ares Management's Piotroski F-Score falls into.
* 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.
This Year (Mar26) TTM:
Last Year (Mar25) TTM:
Net Income was 137.062 + 288.882 + 54.248 + 142.589 = $623 Mil. Cash Flow from Operations was 415.701 + 1340.743 + -483.688 + 406.515 = $1,679 Mil. Revenue was 1350.128 + 1657.628 + 1504.921 + 1396.436 = $5,909 Mil. Gross Profit was 706.419 + 997.793 + 899.965 + 704.029 = $3,308 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(27181.768 + 27264.941 + 27032.166 + 28633.369 + 28394.933) / 5 = $27701.4354 Mil. Total Assets at the begining of this year (Mar25) was $27,182 Mil. Long-Term Debt & Capital Lease Obligation was $11,915 Mil. Total Current Assets was $7,528 Mil. Total Current Liabilities was $7,674 Mil.
Net Income was 94.938 + 118.46 + 177.317 + 47.17 = $438 Mil.
Revenue was 788.682 + 1129.739 + 1258.997 + 1088.805 = $4,266 Mil. Gross Profit was 368.824 + 693.863 + 795.935 + 431.68 = $2,290 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(24413.27 + 24192.557 + 24522.65 + 24884.308 + 27181.768) / 5 = $25038.9106 Mil. Total Assets at the begining of last year (Mar24) was $24,413 Mil. Long-Term Debt & Capital Lease Obligation was $12,753 Mil. Total Current Assets was $3,087 Mil. Total Current Liabilities was $5,336 Mil.
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
Ares Management's current Net Income (TTM) was 623.
==> Positive ==> Score 1.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
Ares Management's return on assets of this year was 0.02291172. Ares Management's return on assets of last year was 0.01793635.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Ares Management's gearing of this year was 0.43013724. Ares Management's gearing of last year was 0.50930998.
==> This year is lower or equal to last year. ==> Score 1.
Question 6. Change in Working Capital (Liquidity)
Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.
Score 1 if this year's current ratio is higher, 0 if it's lower
Ares Management's current ratio of this year was 0.98101974. Ares Management's current ratio of last year was 0.57850017.
==> This year's current ratio is higher. ==> Score 1.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
Ares Management's number of shares in issue this year was 224.034. Ares Management's number of shares in issue last year was 209.351.
==> There is larger number of shares in issue this year. ==> Score 0.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
Ares Management's gross margin of this year was 0.55984815. Ares Management's gross margin of last year was 0.53684535.
==> This year's gross margin is higher. ==> Score 1.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
Ares Management's asset turnover of this year was 0.21739252. Ares Management's asset turnover of last year was 0.17475017.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Ares Management has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.
Ares Management (ARES) has a Piotroski F-Score of 8 as of Jun. 26, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Ares Management and its competitors. This is 60% above median its historical median of 5.00. Over the past decade, Ares Management's Piotroski F-Score has ranged from 1.00 to 8.00. According to the industry distribution chart, Ares Management ranks #12 out of 1597 companies in the Asset Management industry, placing it in the top 0.8%.
Is Ares Management's Piotroski F-Score too high?
Ares Management's current Piotroski F-Score of 8 is 60% above median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 1.00 to a high of 8.00. The Asset Management industry median Piotroski F-Score is 5.00. Ares Management's value of 8 is 60% above this industry median. Based on the distribution chart, Ares Management ranks #12 out of 1597 companies in the Asset Management industry, which is in the top quartile — a strong position relative to peers. Overall, Ares Management has a GF Score™ of 78/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Ares Management's Piotroski F-Score compare to RJF and NTRS?
According to the Asset Management industry distribution chart, Ares Management ranks #12 out of 1597 companies for Piotroski F-Score. This places Ares Management in the top 1% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Ares Management's value of 8 is 60% above this benchmark. Historically, Ares Management's own Piotroski F-Score has ranged from 1.00 to 8.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, Ares Management has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Piotroski F-Score for an Asset Management company?
The median Piotroski F-Score among Asset Management companies is 5.00, based on 1,597 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Ares Management's current Piotroski F-Score of 8 is 60% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Ares Management and its competitors. For the Asset Management industry, the median Piotroski F-Score is 5.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ares Management's current Piotroski F-Score is 8, which is 60% above median its own 10-year median of 5.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ares Management stock overvalued right now?
Based on GuruFocus' analysis, Ares Management (ARES) is currently considered Possible Value Trap. The stock's GF Value™ is $185.68, compared to a current price of $109.13 — trading 41.2% below its estimated fair value. The current Piotroski F-Score is 8, which is 60% above median its 10-year median of 5.00 and 60% above the Asset Management industry median of 5.00. Ares Management's overall GF Score™ is 78/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For Ares Management (ARES), the current Piotroski F-Score is 8 as of Jun. 26, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Ares Management (ARES) Overvalued in 2026?
Based on GuruFocus' analysis, Ares Management stock appears to be undervalued.
The current stock price of $109.13 is trading 41.2% below its estimated GF Value™ of $185.68.
GuruFocus considers Ares Management to be Possible Value Trap.
Key valuation signals for ARES:
Piotroski F-Score: 8 (60% above median its 10-year median of 5.00)
GF Value™: $185.68 vs. price of $109.13 (41.2% below fair value)
Industry Position: 60% above the Asset Management median (#12 of 1597)
No single metric tells the full story. See the ARES stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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.
78GF Score
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