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Asset Management

Ares Management Corporation (ARES): Revenue expansion with deteriorating margins and cash conversion

Financial Services

Ares Management Corporation (ARES): Revenue expansion with deteriorating margins and cash conversion

KKR & Co. Inc. (KKR): Margin structure reshaped by revenue decline and cost cuts

Financial Services

KKR & Co. Inc. (KKR): Margin structure reshaped by revenue decline and cost cuts

T. Rowe Price Group, Inc. (TROW): Cash generation resilience amid margin and return compression

Financial Services

T. Rowe Price Group, Inc. (TROW): Cash generation resilience amid margin and return compression

Franklin Resources, Inc. (BEN): Cash-generative platform with rising income quality

Financial Services

Franklin Resources, Inc. (BEN): Cash-generative platform with rising income quality

Blackstone Inc. (BX): Capital-light asset manager with widening margin structure

Financial Services

Blackstone Inc. (BX): Capital-light asset manager with widening margin structure

The Bank of New York Mellon Corporation (BK): Earnings expansion with tightening cost and margin structure

Financial Services

The Bank of New York Mellon Corporation (BK): Earnings expansion with tightening cost and margin structure