ARES FCF Yield: current value, 10-year range and year-by-year history
Cash & Leverage
FCF Yield History
Historically priceyAbove avgAround avgBelow avgHistorically cheap
ARES FCF Yield by year
Yearly range of ARES’s fcf yield from 2016 to 2026. Over the full period it ranged from -145.0% to 16.1%, averaging -28.8%.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 8.2% | 11.2% | 15.0% | 13.4% |
| 2025 | 6.3% | 10.7% | 16.1% | 8.9% |
| 2024 | -1.4% | 1.1% | 7.1% | 7.1% |
| 2023 | -6.0% | -1.9% | 0.5% | 0.4% |
| 2022 | -21.4% | -15.0% | -9.0% | -11.1% |
| 2021 | -17.1% | -10.3% | -5.3% | -17.1% |
| 2020 | -77.1% | -30.6% | -5.2% | -6.3% |
| 2019 | -82.7% | -52.9% | -31.9% | -49.1% |
| 2018 | -145.0% | -106.4% | -72.9% | -79.5% |
| 2017 | -106.1% | -67.7% | -32.7% | -96.8% |
| 2016 | -21.6% | -14.2% | 4.3% | -17.0% |
Free cash flow generated divided by market capitalisation. Often more reliable than earnings yield because it reflects actual cash — harder to inflate through accounting choices.
Formula
Free Cash Flow / Market Cap × 100%How to read this chart
Think of it as the "cash earnings yield" on your investment. High FCF yield vs history suggests the market may be undervaluing the company's real cash generation ability.
Key caveats
- FCF can be lumpy year-to-year due to irregular capex or working capital swings. Look at 3–5 year trends, not single-year readings.
- Businesses intentionally reinvesting for growth will show low or negative FCF yield by design — this metric is less useful for high-growth phase companies.
Pro — up to 30-year history
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