Ares Management ARES reverse DCF

What growth is priced into ARES? The market price taken as given, and the free-cash-flow growth it implies solved for — five years at one rate, a fade to 2.5%, a perpetuity — at the return you require, from the filed statements on the Ares Management stock page. A growth rate to argue with, not a value. New to the method? Start with how to read a reverse DCF; the arithmetic is on the tool page.