LIVE
ARES
Ares Management Corporation · Financial Services / Alternative Asset Management
$129.34
+7.87% this month
VERSUS
⟷
COMPARE
BX
Blackstone Inc. · Financial Services / Alternative Asset Management
$123.79
+8.34% this month
Scoreboard verdict
Across AI score, momentum, valuation, upside, operating margin
ARES
1
BX
3
Comparison scoreboard
BX LEADS 3/5AI Score
ARES ✓59.5
BX 49.9
1Y Return
ARES -19.85%
BX ✓-6.69%
Fwd P/E
ARES 17.67
BX ✓16.43
Target Up.
ARES +12.29%
BX ✓+15.88%
Op. Margin
ARES N/A
BX N/A
Metrics last refreshed: 6/20/2026
Quick take
ARES vs BX Stock Comparison: AI Score, Valuation, Performance and Upside
ARES and BX are both leading alternative asset managers but with different AUM compositions. Ares is primarily a credit manager (direct lending, structured credit) with more predictable FRE from management fees on deployed loan portfolios. Blackstone is the largest alternative manager with more private equity and real estate exposure — higher peak FRE potential from carried interest but more transaction-cycle volatility. Ares offers credit stability; Blackstone offers scale, brand, and PE/real estate upside.
ARES vs BX — Ares Management ($450B+ credit-dominant AUM with direct lending market leadership, stable FRE from loan portfolio management fees) versus Blackstone ($1T+ AUM across PE, real estate, and credit with BREIT's institutional real estate platform, $200B+ dry powder, and global brand positioning as the largest alternative manager).
Live analysis · updated 6/20/2026
BX holds the edge across 3 of 5 key metrics in this comparison. BX leads on both 1-year return (-6.69%) and forward P/E (16.43x vs 17.67x for ARES), a relatively favorable combination of momentum and valuation. Analyst consensus implies meaningfully more upside for BX (+15.88%) than for ARES (+12.29%).
Normalized 1Y performance
ARES
BX
Recent returns
ARES
BX
Analyst price targets & sentiment
ARES · 17 analysts
STRONG BUYHOLDSTRONG SELL
Buy (1.9/5.0)
Price target range
analyst low$125.00
analyst high$190.00
analyst mean$145.24
current price$129.34
+12.3% upside to analyst mean
BX · 20 analysts
STRONG BUYHOLDSTRONG SELL
Buy (2.0/5.0)
Price target range
analyst low$116.00
analyst high$190.00
analyst mean$143.45
current price$123.79
+15.9% upside to analyst mean
Who should consider this stock?
ARES may suit investors who:
- →want alternative asset management exposure with more predictable earnings from credit AUM management fees vs PE's lumpy carried interest cycles
- →are positive on direct lending market growth — banks continuing to retreat from middle market corporate lending expands Ares's direct lending opportunity without traditional banking competition
- →value Ares's insurance capital partnerships as a structural long-duration AUM source with minimal redemption risk — providing AUM stability not available through traditional fund structures
- →prefer a more credit-specialist alternative manager over Blackstone's broader mandate — Ares's credit depth provides genuine expertise differentiation
BX may suit investors who:
- →want exposure to the largest alternative asset manager globally — Blackstone's $1T+ AUM and brand recognition attract institutional and retail capital at scale no competitor can match
- →value Blackstone's real estate dominance through BREIT — logistics, data centers, and rental housing are secular growth themes where Blackstone has leading market positions
- →believe PE deal activity will recover from 2022-2024 slowdown — Blackstone's $200B+ dry powder creates significant deployment opportunity when M&A markets normalize
- →are comfortable with BREIT redemption risk and private equity cycle volatility in exchange for exposure to Blackstone's potential carried interest realization from prior high-vintage PE investments
Performance & AI score
| Metric | ARES | BX |
|---|---|---|
| AI score | 59.5 | 49.9 |
| AI rank | #175 | #478 |
| Latest close | $129.34 | $123.79 |
| 1M return | +7.87% | +8.34% |
| 6M return | -21.42% | -17.50% |
| 1Y return | -19.85% | -6.69% |
$10,000 invested — hypothetical growth (dividends reinvested)
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | ARES | BX |
|---|---|---|
| 1Y ago | $8.31K (-16.9%) started 2025-06-18 | $9.67K (-3.3%) started 2025-06-18 |
| 5Y ago | $31.23K (+212.3%) started 2021-06-18 | $18.33K (+83.3%) started 2021-06-18 |
| 10Y ago | $246.16K (+2361.6%) started 2016-06-20 | $132.78K (+1227.8%) started 2016-06-20 |
Hypothetical — past performance does not guarantee future results.
Valuation & upside potential
| Metric | ARES | BX |
|---|---|---|
| Market cap | $42.66B | $151.3B |
| Trailing P/E | 59.60 | 31.74 |
| Forward P/E | 17.67 | 16.43 |
| Price/Sales | 7.22 | 10.51 |
| EV/Revenue | 8.29 | 8.77 |
| Analyst target | $145.24 | $143.45 |
| Target upside | +12.29% | +15.88% |
Growth, profitability & risk
| Metric | ARES | BX |
|---|---|---|
| Revenue growth | 28.30% | 5.70% |
| Earnings growth | 770.50% | 3.90% |
| EPS growth | +770.50% | +3.90% |
| FCF margin | +29.74% | N/A |
| Operating margin | N/A | N/A |
| Profit margin | 10.54% | 21.21% |
| ROIC proxy | 14.18% | 29.53% |
| Return on equity | 14.18% | 29.53% |
| Dividend yield | 4.00% | 3.89% |
| Beta | 1.52 | 1.58 |
| Debt/equity | 168.76 | 72.02 |
| Current ratio | 0.49 | 0.90 |
| Quick ratio | 0.41 | 0.85 |
Drawdown & downside risk
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
1Y risk snapshot
ARES max drawdown49.30%
BX max drawdown44.76%
ARES max wkly drop19.66%
BX max wkly drop12.44%
5Y risk snapshot
ARES max drawdown49.97%
BX max drawdown49.29%
ARES max wkly drop22.99%
BX max wkly drop21.23%
10Y risk snapshot
ARES max drawdown49.97%
BX max drawdown49.29%
ARES max wkly drop27.59%
BX max wkly drop30.68%
Performance metrics by period
| Period | Metric | ARES | BX |
|---|---|---|---|
| 1Y | Growth | -19.85% | -6.69% |
| CAGR | -19.87% | -6.70% | |
| Sharpe ratio | -0.43 | -0.15 | |
| Max drawdown | 49.30% | 44.76% | |
| Max daily drop | 11.19% | 6.23% | |
| Max wkly drop | 19.66% | 12.44% | |
| 5Y | Growth | +164.39% | +52.33% |
| CAGR | +21.47% | +8.78% | |
| Sharpe ratio | 0.59 | 0.30 | |
| Max drawdown | 49.97% | 49.29% | |
| Max daily drop | 15.48% | 10.00% | |
| Max wkly drop | 22.99% | 21.23% | |
| 10Y | Growth | +1376.07% | +659.26% |
| CAGR | +30.92% | +22.49% | |
| Sharpe ratio | 0.80 | 0.62 | |
| Max drawdown | 49.97% | 49.29% | |
| Max daily drop | 15.48% | 15.40% | |
| Max wkly drop | 27.59% | 30.68% |
Business comparison
| Category | ARES | BX |
|---|---|---|
| Company | Ares Management Corporation | Blackstone Inc. |
| Sector | Financial Services / Alternative Asset Management | Financial Services / Alternative Asset Management |
| Industry | N/A | N/A |
| Core business | Ares Management is a global alternative investment manager with $450B+ in AUM specializing in credit (direct lending, leveraged finance, structured credit — the majority of AUM), private equity, real estate, and infrastructure. Ares's credit-dominated business model is distinctive in alternative asset management — most peers have more private equity concentration. Ares's credit AUM is highly diversified across hundreds of corporate borrowers through direct lending vehicles (BDCs, CLOs, credit funds). Credit management's more consistent fee stream from deployment of capital into loans provides more predictable earnings than PE transaction-based income. | Blackstone is the world's largest alternative asset manager with $1T+ in AUM — spanning private equity (buyouts, private credit, growth equity), real estate (BREIT — the largest real estate private equity vehicle in history, logistics, data centers, rental housing), credit (direct lending, liquid credit), and hedge fund solutions. Blackstone's real estate and private equity dominance differentiates it from credit-focused Ares. Blackstone's brand is the most recognized in alternative investing — institutional and retail investors globally associate Blackstone with the leading alternative management firm. |
| Investor focus | Investors focus on Ares's fee-related earnings (FRE) from management fees on deployed AUM, direct lending market growth (banks retreating from middle market lending), AUM fundraising trajectory, and credit quality of underlying loan portfolios in a higher-for-longer rate environment. | Investors focus on Blackstone's fee-related earnings from $1T+ AUM, BREIT performance and redemption management, private equity deal activity and deployment of $200B+ in dry powder, retail investor product penetration, and carried interest realization from prior vintages. |
ARES strengths
- →Direct lending market dominance: Ares is one of the largest direct lenders globally — as banks retreated from middle market corporate lending post-2008, Ares filled the vacuum with credit funds earning higher yields than bank loans
- →Credit-dominated AUM provides more stable FRE: management fees on credit funds (loans need management throughout their lives) are more predictable than PE performance fees from lumpy transaction activity
- →Insurance capital partnerships: Ares manages insurance company assets (Aspida Life Insurance) — captive insurance capital provides long-duration AUM with minimal redemption risk
BX strengths
- →Largest alternative manager brand: Blackstone's $1T+ AUM and global brand recognition attract institutional mandates and retail investor capital more easily than smaller alternative managers
- →BREIT and real estate dominance: BREIT's $58B+ in AUM and real estate emphasis gives Blackstone unique positioning in institutional-quality real estate investments — logistics, data centers, rental housing as secular tailwinds
- →Dry powder deployment at scale: Blackstone's $200B+ in uncalled capital provides earnings growth as capital is deployed into investments earning management fees on committed capital
Risks to watch — ARES
- →Credit quality in higher rate environment: Ares's direct lending portfolios face increased default risk if high interest rates impair middle market borrower cash flows — payment-in-kind (PIK) and distressed credit trends in portfolios require monitoring
- →PE revenue concentration from fewer large transactions: Ares's private equity segment earns carried interest from realized transactions — PE deal activity slowdown reduces realized fee income
- →Valuation premium vs traditional asset managers: alternative managers trade at premium valuations reflecting fee structure advantages — any growth shortfall creates significant multiple compression
Risks to watch — BX
- →BREIT redemption gating controversy: limiting BREIT redemptions in late 2022 highlighted liquidity mismatch in retail-marketed private real estate vehicles — ongoing redemption management is a reputational and structural challenge
- →Private equity deal activity sensitivity: Blackstone's PE and M&A-driven earnings fluctuate significantly with deal cycle — rising rates in 2022-2024 reduced PE transaction activity and slowed carried interest realization
- →Size limits investment opportunities: at $1T+ AUM, Blackstone can only move needles with very large transactions — the private equity opportunity set shrinks as Blackstone grows larger
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