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Ares Management vs Franklin Resources: revenue, profit, margins and growth compared

Ares Management brought in $5.6B of revenue in fiscal 2025, Franklin Resources $8.8B in fiscal 2025. Revenue changed by +44.2% at Ares Management and +3.5% at Franklin Resources on the year before, so Ares Management grew faster. Ares Management kept 9.4% of its revenue as net profit, Franklin Resources 6.0%.

Side by side, latest fiscal year

ARESBEN
Fiscal year endedFY2025 (December 31, 2025)FY2025 (September 30, 2025)
Revenue$5.6B$8.8B
Revenue growth+44.2%+3.5%
Net income$527.4M$524.9M
Net margin9.4%6.0%
Free cash flown/a$911.6M
Free cash flow marginn/a10.4%
Earnings per share (diluted)n/a$0.91
Cash$488.9M$3.6B
Debtn/a$2.4B
Price to earningsn/a36.3
Market value$40.3B$16.8B
Dividend yieldn/a3.88%
Rank by revenue in sector#93 of 444 · Finance#64 of 444 · Finance

Over the years

Revenue
ARES FY2018: $1.2BARES FY2019: $1.8BARES FY2020: $1.8BARES FY2021: $4.2BARES FY2022: $3.1BARES FY2023: $3.6BARES FY2024: $3.9BARES FY2025: $5.6BBEN FY2018: $6.3BBEN FY2019: $5.8BBEN FY2020: $5.6BBEN FY2021: $8.4BBEN FY2022: $8.3BBEN FY2023: $7.8BBEN FY2024: $8.5BBEN FY2025: $8.8BFY18FY19FY20FY21FY22FY23FY24FY25
ARES $5.6BBEN $8.8B
Net income
ARES FY2018: $57MARES FY2019: $148.9MARES FY2020: $152.1MARES FY2021: $408.8MARES FY2022: $167.5MARES FY2023: $474.3MARES FY2024: $463.7MARES FY2025: $527.4MBEN FY2018: $764.4MBEN FY2019: $1.2BBEN FY2020: $798.9MBEN FY2021: $1.8BBEN FY2022: $1.3BBEN FY2023: $882.8MBEN FY2024: $464.8MBEN FY2025: $524.9MFY18FY19FY20FY21FY22FY23FY24FY25
ARES $527.4MBEN $524.9M
Net margin
ARES FY2018: 4.7%ARES FY2019: 8.4%ARES FY2020: 8.6%ARES FY2021: 9.7%ARES FY2022: 5.5%ARES FY2023: 13.1%ARES FY2024: 11.9%ARES FY2025: 9.4%BEN FY2018: 12.1%BEN FY2019: 20.7%BEN FY2020: 14.4%BEN FY2021: 21.7%BEN FY2022: 15.6%BEN FY2023: 11.2%BEN FY2024: 5.5%BEN FY2025: 6.0%FY18FY19FY20FY21FY22FY23FY24FY25
ARES 9.4%BEN 6.0%
Revenue growth
ARES FY2019: +44.9%ARES FY2020: -0.1%ARES FY2021: +138.8%ARES FY2022: -27.5%ARES FY2023: +18.9%ARES FY2024: +7.0%ARES FY2025: +44.2%BEN FY2019: -8.6%BEN FY2020: -3.6%BEN FY2021: +51.4%BEN FY2022: -1.8%BEN FY2023: -5.1%BEN FY2024: +8.0%BEN FY2025: +3.5%FY19FY20FY21FY22FY23FY24FY25
ARES +44.2%BEN +3.5%
Free cash flow
ARES FY2018: -$1.4BBEN FY2018: $2.1BBEN FY2019: $34.8MBEN FY2020: $979.6MBEN FY2021: $1.2BBEN FY2022: $1.9BBEN FY2023: $940.4MBEN FY2024: $794.2MBEN FY2025: $911.6MFY18FY19FY20FY21FY22FY23FY24FY25
ARES -$1.4BBEN $911.6M

Fiscal years as each company reports them; the two may end in different months.

Questions about Ares Management and Franklin Resources

Which is bigger by revenue, Ares Management or Franklin Resources?

Franklin Resources is bigger by revenue: $8.8B in fiscal 2025, against $5.6B for Ares Management in fiscal 2025.

Which keeps more of its revenue as profit, Ares Management or Franklin Resources?

Ares Management had a net margin of 9.4% in fiscal 2025; Franklin Resources had 6.0% in fiscal 2025.

Which grew revenue faster, Ares Management or Franklin Resources?

In their latest fiscal years revenue changed by +44.2% at Ares Management and +3.5% at Franklin Resources.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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