Ares RL EST TR REIT E (ZARE) Financials
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 12, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the ZARE SEC filings page.
Ares RL EST Inc TR REIT E (ZARE) reported $560.5M in revenue over the twelve months to Jun 30, 2026, up 24.6% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Growth is being built with heavy asset expansion and financing, while rising interest and leverage keep reported earnings negative.
Operating income rose17.9% in FY2025, yet the company still reported a net loss of$68.0M ; the gap points to financing and other below-operating charges absorbing the operating result. At the same time, liabilities grew33.1% while equity fell12.1% , leaving less balance-sheet cushion.
The asset base expanded
Cash conversion is volatile rather than consistently tied to earnings: operating cash flow moved from
Financial Health Signals
We do not publish a peer-relative financial health score for Ares RL EST Inc TR REIT E, because the score only covers companies whose filings and listing give us what it needs to compare them with their peers. The signals and metrics below are current.
Ares RL EST Inc TR REIT E passes 3 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 2 of 4 profitability signals pass, all 1 leverage/liquidity signals pass, the one computable operating efficiency signal (asset turnover improving) does not pass.
Ares RL EST Inc TR REIT E reported a net loss of $68.0M while generating $253.6M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Ares RL EST Inc TR REIT E earns $2.33 in operating income for every $1 of interest expense ($331.6M vs $142.1M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.
Key Financial Metrics
Earnings & Revenue
Ares RL EST Inc TR REIT E generated $151.2M in revenue in Q2 2026. This represents an increase of 27.8% from the same quarter a year earlier. Against the prior quarter it is up 4.2%.
Ares RL EST Inc TR REIT E's EBITDA was $165.6M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 32.5% from the same quarter a year earlier. Against the prior quarter it is up 4.5%.
Ares RL EST Inc TR REIT E reported a net loss of $13.7M in Q2 2026. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Ares RL EST Inc TR REIT E earned -$0.06 per diluted share (EPS) in Q2 2026. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Cash & Balance Sheet
Ares RL EST Inc TR REIT E held $41.1M in cash against $2.5B in long-term debt as of Q2 2026.
Ares RL EST Inc TR REIT E paid $0.10 per share in dividends in Q2 2026. This represents an increase of 3.5% from the same quarter a year earlier. It is unchanged from the prior quarter.
Not reported for Q2 2026.
Margins & Returns
Ares RL EST Inc TR REIT E's operating margin was 70.2% in Q2 2026, reflecting core business profitability. This is up 4.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.3 percentage points.
Ares RL EST Inc TR REIT E's net profit margin was -9.0% in Q2 2026, showing the share of revenue converted to profit. This is up 10.0 percentage points from the same quarter a year earlier. Against the prior quarter it is up 5.7 percentage points.
Ares RL EST Inc TR REIT E's quarterly ROE was -1.8% in Q2 2026: one quarter's net income over shareholder equity, not annualized. This is up 1.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.3 percentage points.
Not reported for Q2 2026.
Capital Allocation
Ares RL EST Inc TR REIT E spent $26.2M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 2.7% from the same quarter a year earlier. Against the prior quarter it is up 12.5%.
Not reported for Q2 2026.
Not reported for Q2 2026.
ZARE Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $151.2M+27.8% | $145.1M+24.7% | $141.4M+31.0% | $122.7M+14.4% | $118.3M+15.0% | $116.4M+17.0% | $107.9M+15.0% | $107.3M+17.6% |
| SG&A Expenses | $3.5M+10.2% | $3.2M+8.6% | $4.1M+17.7% | $3.5M+26.0% | $3.1M-1.8% | $2.9M-12.9% | $3.5M+21.8% | $2.8M-5.4% |
| Operating Income | $106.1M+35.8% | $100.0M+30.5% | $97.5M+29.7% | $79.3M+12.4% | $78.1M+13.8% | $76.7M+14.5% | $75.2M+19.6% | $70.5M+16.4% |
| EBITDA | $165.6M+32.5% | $158.4M+29.3% | $152.3M+30.2% | $128.6M+17.1% | $125.0M+19.2% | $122.5M+19.7% | $117.0M+2.9% | $109.8M+18.4% |
| Interest Expense | $71.3M+107.9% | $37.6M+7.7% | $36.5M+14.1% | $36.4M+17.8% | $34.3M+22.9% | $34.9M+33.7% | $32.0M+30.6% | $30.9M+45.8% |
| Income Tax | $10.8M+553.9% | $4.0M-14.5% | $1.4M-56.5% | $10.3M+117.4% | $1.7M-57.9% | $4.6M | $3.2M | $4.7M |
| Net Income | -$13.7Mn/m | -$21.3Mn/m | -$19.1Mn/m | -$8.3Mn/m | -$22.6Mn/m | -$18.0Mn/m | -$5.5Mn/m | -$2.3Mn/m |
| EPS (Basic) | -$0.06n/m | -$0.10n/m | -$0.10n/m | -$0.05n/m | -$0.13n/m | -$0.10n/m | -$0.03n/m | -$0.01n/m |
| EPS (Diluted) | -$0.06n/m | -$0.10n/m | -$0.10n/m | -$0.05n/m | -$0.13n/m | -$0.10n/m | -$0.03n/m | -$0.01n/m |
| Diluted Shares (Avg) | 437M+30.3% | 400M+18.5% | N/A | 335M+5.5% | 335M+15.9% | 337M+19.9% | N/A | 318M+19.2% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses.
ZARE Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $7.7B+31.6% | $7.5B+33.9% | $7.3B+26.8% | $6.5B+29.1% | $5.8B+18.3% | $5.6B+19.3% | $5.7B+23.5% | $5.1B+12.8% |
| Cash & Equivalents | $41.1M+2.8% | $50.9M+49.8% | $40.1M+104.9% | $71.8M+241.6% | $40.0M+5.5% | $34.0M+116.0% | $19.6M+29.9% | $21.0M+44.9% |
| Total Liabilities | $5.6B+22.7% | $5.8B+36.4% | $5.7B+33.1% | $5.4B+41.1% | $4.6B+20.1% | $4.3B+19.9% | $4.3B+22.7% | $3.8B+12.1% |
| Long-Term Debt | $2.5B+3.8% | $2.8B+18.0% | $3.0B+10.0% | $2.6B+18.2% | $2.4B+14.7% | $2.4B+21.1% | $2.7B+37.7% | $2.2B+20.6% |
| Total Equity | $750.2M+15.1% | $691.6M0.0% | $655.4M-12.1% | $625.5M-14.8% | $651.8M-9.6% | $691.6M-9.8% | $745.8M-6.2% | $734.2M-11.6% |
Not reported in any period shown, so not listed: Current Assets, Short-Term Investments, Inventory, Accounts Receivable, Long-Term Investments, Goodwill, Current Liabilities, Non-Current Liabilities, Retained Earnings.
ZARE Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $189.4M+990.7% | -$162.6M-180.9% | $162.9Mn/m | -$127.6M-1652.0% | $17.4M+16.4% | $201.0M+2480.0% | -$200.4Mn/m | $8.2M-56.2% |
| Depreciation & Amortization | $59.5M+27.0% | $58.4M+27.2% | $54.7M+31.0% | $49.3M+25.6% | $46.9M+29.3% | $45.9M+29.3% | $41.8M-17.7% | $39.3M+22.2% |
| Investing Cash Flow | -$335.1Mn/m | -$53.3Mn/m | -$844.0Mn/m | -$467.1Mn/m | -$254.8Mn/m | -$44.1Mn/m | -$429.2Mn/m | -$179.9Mn/m |
| Financing Cash Flow | $141.8M-42.1% | $230.0Mn/m | $647.1M+2.9% | $623.5M+301.6% | $244.7M-4.7% | -$140.8M-354.2% | $628.9M+210.5% | $155.2M-20.5% |
| Dividends Paid | $30.9M+37.4% | $28.6M+21.4% | $24.3M+10.0% | $24.3M+18.8% | $22.5M+22.4% | $23.5M+35.3% | $22.0M+33.3% | $20.5M+30.3% |
| Share Buybacks | $26.2M-2.7% | $23.3M-40.9% | $27.9M-27.3% | $28.1M-48.7% | $26.9M-55.2% | $39.4M+2.7% | $38.4M-19.9% | $54.8M+4.1% |
Not reported in any period shown, so not listed: Stock-Based Compensation, Capital Expenditures, Free Cash Flow.
ZARE Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | 70.2%+4.1pp | 68.9%+3.0pp | 69.0%-0.7pp | 64.6%-1.1pp | 66.0%-0.7pp | 65.9%-1.4pp | 69.7%+2.7pp | 65.7%-0.7pp |
| Net Margin | -9.0%+10.0pp | -14.7%+0.8pp | -13.5%-8.4pp | -6.8%-4.6pp | -19.1%-5.1pp | -15.5%-0.4pp | -5.1%+19.7pp | -2.1%+13.7pp |
| Return on Equity | -1.8%+1.6pp | -3.1%-0.5pp | -2.9%-2.2pp | -1.3%-1.0pp | -3.5%-1.5pp | -2.6%-0.7pp | -0.7%+2.2pp | -0.3%+1.4pp |
| Return on Assets | -0.2%+0.2pp | -0.3%0.0pp | -0.3%-0.2pp | -0.1%-0.1pp | -0.4%-0.1pp | -0.3%0.0pp | -0.1%+0.4pp | 0.0%+0.3pp |
| Debt-to-Equity | 3.39-0.4x | 4.03+0.6x | 4.53+0.9x | 4.09+1.1x | 3.76+0.8x | 3.42+0.9x | 3.62+1.2x | 2.94+0.8x |
| Liabilities-to-Equity | 7.52+0.5x | 8.42+2.2x | 8.77+3.0x | 8.56+3.4x | 7.06+1.7x | 6.17+1.5x | 5.79+1.4x | 5.17+1.1x |
| Asset Turnover | 0.020.0x | 0.020.0x | 0.020.0x | 0.020.0x | 0.020.0x | 0.020.0x | 0.020.0x | 0.020.0x |
Not reported in any period shown, so not listed: Gross Margin, Current Ratio, FCF Margin.
Where Ares RL EST Inc TR REIT E Ranks
Frequently Asked Questions
Ares RL EST Inc TR REIT E (ZARE) reported $498.8M in total revenue for fiscal year 2025. This represents a 19.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
Ares RL EST Inc TR REIT E (ZARE) revenue grew by 19.5% year-over-year, from $417.5M to $498.8M in fiscal year 2025.
No, Ares RL EST Inc TR REIT E (ZARE) reported a net loss of $62.4M over the trailing 12 months to June 30, 2026. In fiscal year 2025 it reported a net loss of $68.0M, with a net profit margin of -13.6%.
Ares RL EST Inc TR REIT E (ZARE) had EBITDA of $528.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
As of fiscal year 2025, Ares RL EST Inc TR REIT E (ZARE) had $40.1M in cash and equivalents against $3.0B in long-term debt.
Ares RL EST Inc TR REIT E (ZARE) had an operating margin of 66.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
Ares RL EST Inc TR REIT E (ZARE) had a net profit margin of -13.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Yes, Ares RL EST Inc TR REIT E (ZARE) paid $0.41 per share in dividends during fiscal year 2025.
Ares RL EST Inc TR REIT E (ZARE) has a return on equity of -10.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
Ares RL EST Inc TR REIT E (ZARE) generated $253.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
Ares RL EST Inc TR REIT E (ZARE) had $7.3B in total assets as of fiscal year 2025, including both current and long-term assets.
Ares RL EST Inc TR REIT E (ZARE) had a debt-to-equity ratio of 4.53 as of fiscal year 2025. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.
Ares RL EST Inc TR REIT E (ZARE) had a liabilities-to-equity ratio of 8.77 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.
Ares RL EST Inc TR REIT E (ZARE) had a return on assets of -0.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Ares RL EST Inc TR REIT E (ZARE) has a Piotroski F-Score of 3 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Ares RL EST Inc TR REIT E (ZARE) reported a net loss of $68.0M while generating $253.6M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Ares RL EST Inc TR REIT E (ZARE) has an interest coverage ratio of 2.33x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.