# Financial Conglomerates — company-by-company sector analysis

> Financial Conglomerates: Voya Financial, Inc. owns the largest revenue base; BRC Group Holdings, Inc. has the fastest current growth.

Sector Alpha — machine-written from the numbers. Data as of 2026-07-28. Not investment advice.

## Bottom line

Financial Conglomerates has outperformed S&P 500 by 11.9% over 52 weeks and 4.5% over 13 weeks. 2 of 5 covered companies beat the S&P 500 on Mansfield relative strength, while 1 of 5 beat the sector itself. Voya Financial, Inc. leads with income of $8,251 million, based on 4 of 5 comparable companies through Mar 2026.

### Is the Financial Conglomerates sector outperforming S&P 500?

Financial Conglomerates has outperformed S&P 500 by 11.9% over 52 weeks and 4.5% over 13 weeks. 2 of 5 covered companies beat the S&P 500 on Mansfield relative strength, while 1 of 5 beat the sector itself.

### Which Financial Conglomerates company is largest by income?

Voya Financial, Inc. leads with income of $8,251 million, based on 4 of 5 comparable companies through Mar 2026.

### Which Financial Conglomerates company is growing fastest?

BRC Group Holdings, Inc. has the fastest current income growth at 78.4%, across 4 of 5 comparable companies.

### Which Financial Conglomerates company has the strongest 4-Factor Sector Score?

Voya Financial, Inc. ranks first at 57.1/100 with 61.7% evidence confidence. The score prioritizes research; it is not a buy recommendation.

### Which Financial Conglomerates company has the largest deposit base?

Hilltop Holdings Inc. has the largest reported deposit base at $10,514 million. Bank borrowings are operating funding, not industrial leverage.

### Which Financial Conglomerates company has the lowest comparable P/BV-to-ROE?

LendingTree, Inc. has the lowest comparable P/BV ÷ ROE at 0.14, among 4 of 5 companies that pass the metric’s comparability rules.

### How much history does this Financial Conglomerates comparison include?

The page compares up to 20 reported quarters per company for fundamentals, CAPEX, debt and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.

### How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

## Sector relative strength

Financial Conglomerates has outperformed S&P 500 by 11.9% over the last 52 weeks. Over 13 weeks the gap is a lead of 4.5%. 2 of 5 covered companies currently beat the S&P 500 on Mansfield relative strength, so leadership inside the sector is selective. Voya Financial, Inc. is the strongest against the sector itself at +13.5%.

13-week sector return versus NIFTY 500: 4.5%
52-week sector return versus NIFTY 500: 12%
Stocks leading NIFTY: 2/5
Stocks leading sector: 1/5

Central tension: The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Companies: 5
Combined market value: ₹22.0K Cr

## 4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

1. Voya Financial, Inc. (VOYA): 57/100 — Mixed-positive evidence; evidence 62%
   - Growth & earnings 20.1/35 | Capital efficiency 13.2/25 | Valuation 3.8/20 | Relative strength 20.0/20
   - Exact sum: 20.1 + 13.2 + 3.8 + 20 = 57.1
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
2. Freedom Holding Corp. (FRHC): 45/100 — Mixed-negative evidence; evidence 67%
   - Growth & earnings 24.9/35 | Capital efficiency 6.2/25 | Valuation 3.0/20 | Relative strength 11.2/20
   - Exact sum: 24.9 + 6.2 + 3 + 11.2 = 45.3
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
3. LendingTree, Inc. (TREE): 52/100 — Thin evidence · provisional; evidence 47%
   - Growth & earnings 22.5/35 | Capital efficiency 14.4/25 | Valuation 12.4/20 | Relative strength 3.0/20
   - Exact sum: 22.5 + 14.4 + 12.4 + 3 = 52.3
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
4. BRC Group Holdings, Inc. (RILY): 49/100 — Thin evidence · provisional; evidence 49%
   - Growth & earnings 22.1/35 | Capital efficiency 12.5/25 | Valuation 9.5/20 | Relative strength 5.3/20
   - Exact sum: 22.1 + 12.5 + 9.5 + 5.3 = 49.4
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
5. Hilltop Holdings Inc. (HTH): 45/100 — Thin evidence · provisional; evidence 46%
   - Growth & earnings 16.9/35 | Capital efficiency 12.1/25 | Valuation 3.8/20 | Relative strength 12.5/20
   - Exact sum: 16.9 + 12.1 + 3.8 + 12.5 = 45.3
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

## Income Scale & Growth Durability

What the numbers say: Voya Financial, Inc. is the scale leader at $8,251 million, 350.6% ahead of Freedom Holding Corp.. BRC Group Holdings, Inc.'s growth is 78.4% from a $1,133 million base, with 19 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

Investor read: Voya Financial, Inc. is the scale benchmark; BRC Group Holdings, Inc. is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: Voya Financial, Inc.'s growth falls below BRC Group Holdings, Inc.'s for two consecutive comparable reports while operating margin also compresses.

Evidence: Voya Financial, Inc. · $8,251 million | 350.6% versus #2 · Freedom Holding Corp. | 6/8 recent comparable periods | 4/5 companies · 95 observations

Definition: For lenders, reported income is used instead of industrial-company sales. Growth is compared year-on-year.

### Income — largest
1. Voya Financial, Inc. (VOYA): ₹8.3K Cr
2. Freedom Holding Corp. (FRHC): ₹1.8K Cr
3. LendingTree, Inc. (TREE): ₹1.2K Cr
4. BRC Group Holdings, Inc. (RILY): ₹1.1K Cr

### Income growth — fastest growers
1. BRC Group Holdings, Inc. (RILY): 78%
2. LendingTree, Inc. (TREE): 31%
3. Freedom Holding Corp. (FRHC): 21%
4. Voya Financial, Inc. (VOYA): 3.6%

### 20-quarter Income history
- FRHC: Sep 2021 ₹301 Cr | Dec 2021 ₹133 Cr | Mar 2022 ₹16 Cr | Jun 2022 ₹132 Cr | Sep 2022 ₹139 Cr | Dec 2022 ₹162 Cr | Mar 2023 ₹157 Cr | Jun 2023 ₹221 Cr | Sep 2023 ₹296 Cr | Dec 2023 ₹287 Cr | Mar 2024 ₹339 Cr | Jun 2024 ₹309 Cr | Sep 2024 ₹461 Cr | Dec 2024 ₹533 Cr | Mar 2025 ₹210 Cr | Jun 2025 ₹420 Cr | Sep 2025 ₹424 Cr | Dec 2025 ₹501 Cr | Mar 2026 ₹486 Cr | Jun 2026 —
- VOYA: Sep 2021 ₹2.0K Cr | Dec 2021 ₹1.6K Cr | Mar 2022 ₹1.5K Cr | Jun 2022 ₹1.5K Cr | Sep 2022 ₹1.3K Cr | Dec 2022 ₹1.6K Cr | Mar 2023 ₹1.8K Cr | Jun 2023 ₹1.9K Cr | Sep 2023 ₹1.8K Cr | Dec 2023 ₹1.8K Cr | Mar 2024 ₹2.1K Cr | Jun 2024 ₹2.0K Cr | Sep 2024 ₹2.0K Cr | Dec 2024 ₹2.0K Cr | Mar 2025 ₹2.0K Cr | Jun 2025 ₹2.0K Cr | Sep 2025 ₹2.1K Cr | Dec 2025 ₹2.1K Cr | Mar 2026 ₹2.0K Cr | Jun 2026 —
- HTH: Sep 2021 ₹479 Cr | Dec 2021 ₹408 Cr | Mar 2022 ₹316 Cr | Jun 2022 ₹346 Cr | Sep 2022 ₹331 Cr | Dec 2022 ₹290 Cr | Mar 2023 ₹282 Cr | Jun 2023 ₹294 Cr | Sep 2023 ₹313 Cr | Dec 2023 ₹143 Cr | Mar 2024 ₹234 Cr | Jun 2024 ₹286 Cr | Sep 2024 ₹259 Cr | Dec 2024 ₹223 Cr | Mar 2025 ₹255 Cr | Jun 2025 ₹311 Cr | Sep 2025 ₹284 Cr | Dec 2025 ₹229 Cr | Mar 2026 ₹287 Cr | Jun 2026 —
- TREE: Sep 2021 ₹286 Cr | Dec 2021 ₹258 Cr | Mar 2022 ₹276 Cr | Jun 2022 ₹255 Cr | Sep 2022 ₹232 Cr | Dec 2022 ₹196 Cr | Mar 2023 ₹227 Cr | Jun 2023 ₹176 Cr | Sep 2023 ₹148 Cr | Dec 2023 ₹145 Cr | Mar 2024 ₹162 Cr | Jun 2024 ₹210 Cr | Sep 2024 ₹193 Cr | Dec 2024 ₹253 Cr | Mar 2025 ₹232 Cr | Jun 2025 ₹240 Cr | Sep 2025 ₹291 Cr | Dec 2025 ₹311 Cr | Mar 2026 ₹319 Cr | Jun 2026 —
- RILY: Sep 2021 ₹382 Cr | Dec 2021 ₹422 Cr | Mar 2022 ₹247 Cr | Jun 2022 ₹140 Cr | Sep 2022 ₹312 Cr | Dec 2022 ₹241 Cr | Mar 2023 ₹432 Cr | Jun 2023 ₹406 Cr | Sep 2023 ₹363 Cr | Dec 2023 ₹314 Cr | Mar 2024 ₹298 Cr | Jun 2024 ₹95 Cr | Sep 2024 ₹175 Cr | Dec 2024 ₹179 Cr | Mar 2025 ₹186 Cr | Jun 2025 ₹225 Cr | Sep 2025 ₹278 Cr | Dec 2025 ₹278 Cr | Mar 2026 ₹352 Cr | Jun 2026 —

### 20-quarter Income growth history
- FRHC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 20% | Sep 2022 -54% | Dec 2022 22% | Mar 2023 881% | Jun 2023 67% | Sep 2023 113% | Dec 2023 77% | Mar 2024 116% | Jun 2024 40% | Sep 2024 56% | Dec 2024 86% | Mar 2025 -38% | Jun 2025 36% | Sep 2025 -8.0% | Dec 2025 -6.0% | Mar 2026 131% | Jun 2026 —
- VOYA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -39% | Sep 2022 -33% | Dec 2022 -4.0% | Mar 2023 22% | Jun 2023 23% | Sep 2023 36% | Dec 2023 17% | Mar 2024 12% | Jun 2024 8.7% | Sep 2024 7.3% | Dec 2024 11% | Mar 2025 -4.0% | Jun 2025 -2.6% | Sep 2025 8.8% | Dec 2025 5.0% | Mar 2026 3.2% | Jun 2026 —
- HTH: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -27% | Sep 2022 -31% | Dec 2022 -29% | Mar 2023 -11% | Jun 2023 -15% | Sep 2023 -5.4% | Dec 2023 -51% | Mar 2024 -17% | Jun 2024 -2.7% | Sep 2024 -17% | Dec 2024 56% | Mar 2025 9.0% | Jun 2025 8.7% | Sep 2025 9.7% | Dec 2025 2.7% | Mar 2026 13% | Jun 2026 —
- TREE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -1.9% | Sep 2022 -19% | Dec 2022 -24% | Mar 2023 -18% | Jun 2023 -31% | Sep 2023 -36% | Dec 2023 -26% | Mar 2024 -29% | Jun 2024 19% | Sep 2024 30% | Dec 2024 74% | Mar 2025 43% | Jun 2025 14% | Sep 2025 51% | Dec 2025 23% | Mar 2026 38% | Jun 2026 —
- RILY: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -58% | Sep 2022 -18% | Dec 2022 -43% | Mar 2023 75% | Jun 2023 190% | Sep 2023 16% | Dec 2023 30% | Mar 2024 -31% | Jun 2024 -77% | Sep 2024 -52% | Dec 2024 -43% | Mar 2025 -38% | Jun 2025 137% | Sep 2025 59% | Dec 2025 55% | Mar 2026 89% | Jun 2026 —

## Profit Scale & Acceleration

What the numbers say: Voya Financial, Inc. leads with $777 million of TTM profit, 65.3% above BRC Group Holdings, Inc.. Voya Financial, Inc. shows 28.4% growth from a $777 million profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

Investor read: Voya Financial, Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Evidence: Voya Financial, Inc. · $777 million | 65.3% versus #2 · BRC Group Holdings, Inc. | 4/8 recent comparable periods | 4/5 companies · 95 observations

Definition: Net profit is ranked only where the comparison base is economically meaningful. Loss-to-profit flips are shown but do not win the growth table.

### Net profit — largest
1. Voya Financial, Inc. (VOYA): ₹777 Cr
2. BRC Group Holdings, Inc. (RILY): ₹470 Cr
3. Freedom Holding Corp. (FRHC): ₹153 Cr
4. LendingTree, Inc. (TREE): ₹-63 Cr

### Profit growth — fastest growers
1. Voya Financial, Inc. (VOYA): 28%

### 20-quarter Net profit history
- FRHC: Sep 2021 ₹209 Cr | Dec 2021 ₹58 Cr | Mar 2022 ₹-108 Cr | Jun 2022 ₹43 Cr | Sep 2022 ₹49 Cr | Dec 2022 ₹46 Cr | Mar 2023 ₹54 Cr | Jun 2023 ₹68 Cr | Sep 2023 ₹115 Cr | Dec 2023 ₹96 Cr | Mar 2024 ₹95 Cr | Jun 2024 ₹34 Cr | Sep 2024 ₹114 Cr | Dec 2024 ₹78 Cr | Mar 2025 ₹-142 Cr | Jun 2025 ₹30 Cr | Sep 2025 ₹39 Cr | Dec 2025 ₹76 Cr | Mar 2026 ₹8 Cr | Jun 2026 —
- VOYA: Sep 2021 ₹371 Cr | Dec 2021 ₹502 Cr | Mar 2022 ₹111 Cr | Jun 2022 ₹143 Cr | Sep 2022 ₹42 Cr | Dec 2022 ₹137 Cr | Mar 2023 ₹129 Cr | Jun 2023 ₹235 Cr | Sep 2023 ₹246 Cr | Dec 2023 ₹119 Cr | Mar 2024 ₹288 Cr | Jun 2024 ₹235 Cr | Sep 2024 ₹98 Cr | Dec 2024 ₹121 Cr | Mar 2025 ₹151 Cr | Jun 2025 ₹161 Cr | Sep 2025 ₹272 Cr | Dec 2025 ₹149 Cr | Mar 2026 ₹195 Cr | Jun 2026 —
- HTH: Sep 2021 ₹95 Cr | Dec 2021 ₹65 Cr | Mar 2022 ₹24 Cr | Jun 2022 ₹35 Cr | Sep 2022 ₹33 Cr | Dec 2022 ₹27 Cr | Mar 2023 ₹28 Cr | Jun 2023 ₹20 Cr | Sep 2023 ₹39 Cr | Dec 2023 ₹31 Cr | Mar 2024 ₹30 Cr | Jun 2024 ₹23 Cr | Sep 2024 ₹33 Cr | Dec 2024 ₹38 Cr | Mar 2025 ₹45 Cr | Jun 2025 ₹38 Cr | Sep 2025 ₹47 Cr | Dec 2025 ₹43 Cr | Mar 2026 ₹39 Cr | Jun 2026 —
- TREE: Sep 2021 ₹-4 Cr | Dec 2021 ₹48 Cr | Mar 2022 ₹-10 Cr | Jun 2022 ₹-13 Cr | Sep 2022 ₹113 Cr | Dec 2022 ₹-12 Cr | Mar 2023 ₹14 Cr | Jun 2023 ₹0 Cr | Sep 2023 ₹-156 Cr | Dec 2023 ₹14 Cr | Mar 2024 ₹2 Cr | Jun 2024 ₹11 Cr | Sep 2024 ₹-57 Cr | Dec 2024 ₹11 Cr | Mar 2025 ₹-17 Cr | Jun 2025 ₹13 Cr | Sep 2025 ₹13 Cr | Dec 2025 ₹-118 Cr | Mar 2026 ₹29 Cr | Jun 2026 —
- RILY: Sep 2021 ₹52 Cr | Dec 2021 ₹67 Cr | Mar 2022 ₹-9 Cr | Jun 2022 ₹-137 Cr | Sep 2022 ₹53 Cr | Dec 2022 ₹-46 Cr | Mar 2023 ₹17 Cr | Jun 2023 ₹44 Cr | Sep 2023 ₹-100 Cr | Dec 2023 ₹-112 Cr | Mar 2024 ₹-61 Cr | Jun 2024 ₹-449 Cr | Sep 2024 ₹-151 Cr | Dec 2024 ₹-258 Cr | Mar 2025 ₹-20 Cr | Jun 2025 ₹72 Cr | Sep 2025 ₹97 Cr | Dec 2025 ₹79 Cr | Mar 2026 ₹222 Cr | Jun 2026 —

### 20-quarter Profit growth history
- FRHC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -19% | Sep 2022 -77% | Dec 2022 -21% | Mar 2023 — | Jun 2023 58% | Sep 2023 135% | Dec 2023 109% | Mar 2024 76% | Jun 2024 -50% | Sep 2024 -0.9% | Dec 2024 -19% | Mar 2025 -249% | Jun 2025 -12% | Sep 2025 -66% | Dec 2025 -2.6% | Mar 2026 — | Jun 2026 —
- VOYA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -84% | Sep 2022 -89% | Dec 2022 -73% | Mar 2023 16% | Jun 2023 64% | Sep 2023 486% | Dec 2023 -13% | Mar 2024 123% | Jun 2024 0.0% | Sep 2024 -60% | Dec 2024 1.7% | Mar 2025 -48% | Jun 2025 -31% | Sep 2025 178% | Dec 2025 23% | Mar 2026 29% | Jun 2026 —
- HTH: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -66% | Sep 2022 -65% | Dec 2022 -58% | Mar 2023 17% | Jun 2023 -43% | Sep 2023 18% | Dec 2023 15% | Mar 2024 7.1% | Jun 2024 15% | Sep 2024 -15% | Dec 2024 23% | Mar 2025 50% | Jun 2025 65% | Sep 2025 42% | Dec 2025 13% | Mar 2026 -13% | Jun 2026 —
- TREE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -230% | Sep 2022 — | Dec 2022 -125% | Mar 2023 — | Jun 2023 — | Sep 2023 -238% | Dec 2023 — | Mar 2024 -86% | Jun 2024 — | Sep 2024 — | Dec 2024 -21% | Mar 2025 -950% | Jun 2025 18% | Sep 2025 — | Dec 2025 -1,173% | Mar 2026 — | Jun 2026 —
- RILY: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -283% | Sep 2022 1.9% | Dec 2022 -169% | Mar 2023 — | Jun 2023 — | Sep 2023 -289% | Dec 2023 — | Mar 2024 -459% | Jun 2024 -1,120% | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —

## Funding Base & Its Composition

What the numbers say: Hilltop Holdings Inc. leads deposits at $10,514 million; Voya Financial, Inc. leads borrowings at $3,086 million.

Investor read: Hilltop Holdings Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current borrowings signal.

Evidence: Hilltop Holdings Inc. · $10,514 million | Not enough peers | 8/8 recent comparable periods | 1/5 companies · 20 observations

Definition: For banks, debt is operating funding rather than industrial leverage. Deposits and borrowings are therefore shown as funding-base levels; asset quality, funding cost and liquidity determine whether that funding is attractive.

### Deposits — largest deposit bases
1. Hilltop Holdings Inc. (HTH): ₹10.5K Cr

### Borrowings — largest borrowings
1. Voya Financial, Inc. (VOYA): ₹3.1K Cr
2. Freedom Holding Corp. (FRHC): ₹2.3K Cr
3. BRC Group Holdings, Inc. (RILY): ₹1.3K Cr
4. LendingTree, Inc. (TREE): ₹387 Cr
5. Hilltop Holdings Inc. (HTH): ₹149 Cr

### 20-quarter Deposits history
- HTH: Sep 2021 ₹12.1K Cr | Dec 2021 ₹12.8K Cr | Mar 2022 ₹12.7K Cr | Jun 2022 ₹11.9K Cr | Sep 2022 ₹11.4K Cr | Dec 2022 ₹11.3K Cr | Mar 2023 ₹11.1K Cr | Jun 2023 ₹11.2K Cr | Sep 2023 ₹11.1K Cr | Dec 2023 ₹11.1K Cr | Mar 2024 ₹10.9K Cr | Jun 2024 ₹10.4K Cr | Sep 2024 ₹10.8K Cr | Dec 2024 ₹11.1K Cr | Mar 2025 ₹10.8K Cr | Jun 2025 ₹10.4K Cr | Sep 2025 ₹10.7K Cr | Dec 2025 ₹10.9K Cr | Mar 2026 ₹10.5K Cr | Jun 2026 ₹10.5K Cr

### 20-quarter Borrowings history
- FRHC: Sep 2021 ₹615 Cr | Dec 2021 ₹672 Cr | Mar 2022 ₹882 Cr | Jun 2022 ₹1.1K Cr | Sep 2022 ₹1.1K Cr | Dec 2022 ₹1.3K Cr | Mar 2023 ₹1.6K Cr | Jun 2023 ₹2.7K Cr | Sep 2023 ₹2.9K Cr | Dec 2023 ₹3.2K Cr | Mar 2024 ₹3.1K Cr | Jun 2024 ₹2.9K Cr | Sep 2024 ₹2.9K Cr | Dec 2024 ₹2.7K Cr | Mar 2025 ₹1.9K Cr | Jun 2025 ₹1.8K Cr | Sep 2025 ₹1.6K Cr | Dec 2025 ₹2.2K Cr | Mar 2026 ₹2.3K Cr | Jun 2026 —
- VOYA: Sep 2021 ₹3.7K Cr | Dec 2021 ₹3.5K Cr | Mar 2022 ₹3.4K Cr | Jun 2022 ₹3.4K Cr | Sep 2022 ₹3.1K Cr | Dec 2022 ₹3.3K Cr | Mar 2023 ₹3.4K Cr | Jun 2023 ₹3.4K Cr | Sep 2023 ₹3.4K Cr | Dec 2023 ₹3.4K Cr | Mar 2024 ₹3.1K Cr | Jun 2024 ₹2.8K Cr | Sep 2024 ₹3.2K Cr | Dec 2024 ₹3.2K Cr | Mar 2025 ₹3.1K Cr | Jun 2025 ₹2.8K Cr | Sep 2025 ₹2.6K Cr | Dec 2025 ₹2.7K Cr | Mar 2026 ₹3.1K Cr | Jun 2026 —
- HTH: Sep 2021 ₹396 Cr | Dec 2021 ₹388 Cr | Mar 2022 ₹395 Cr | Jun 2022 ₹390 Cr | Sep 2022 ₹390 Cr | Dec 2022 ₹347 Cr | Mar 2023 ₹376 Cr | Jun 2023 ₹365 Cr | Sep 2023 ₹347 Cr | Dec 2023 ₹347 Cr | Mar 2024 ₹347 Cr | Jun 2024 ₹347 Cr | Sep 2024 ₹348 Cr | Dec 2024 ₹348 Cr | Mar 2025 ₹198 Cr | Jun 2025 ₹148 Cr | Sep 2025 ₹149 Cr | Dec 2025 ₹149 Cr | Mar 2026 ₹149 Cr | Jun 2026 ₹149 Cr
- TREE: Sep 2021 ₹472 Cr | Dec 2021 ₹478 Cr | Mar 2022 ₹565 Cr | Jun 2022 ₹813 Cr | Sep 2022 ₹813 Cr | Dec 2022 ₹814 Cr | Mar 2023 ₹625 Cr | Jun 2023 ₹625 Cr | Sep 2023 ₹626 Cr | Dec 2023 ₹526 Cr | Mar 2024 ₹631 Cr | Jun 2024 ₹468 Cr | Sep 2024 ₹346 Cr | Dec 2024 ₹344 Cr | Mar 2025 ₹388 Cr | Jun 2025 ₹385 Cr | Sep 2025 ₹388 Cr | Dec 2025 ₹388 Cr | Mar 2026 ₹387 Cr | Jun 2026 —
- RILY: Sep 2021 ₹1.8K Cr | Dec 2021 ₹2.1K Cr | Mar 2022 ₹2.1K Cr | Jun 2022 ₹2.1K Cr | Sep 2022 ₹2.4K Cr | Dec 2022 ₹2.5K Cr | Mar 2023 ₹2.6K Cr | Jun 2023 ₹2.4K Cr | Sep 2023 ₹2.5K Cr | Dec 2023 ₹2.5K Cr | Mar 2024 ₹2.3K Cr | Jun 2024 ₹2.3K Cr | Sep 2024 ₹2.2K Cr | Dec 2024 ₹1.8K Cr | Mar 2025 ₹1.6K Cr | Jun 2025 ₹1.5K Cr | Sep 2025 ₹1.5K Cr | Dec 2025 ₹1.5K Cr | Mar 2026 ₹1.3K Cr | Jun 2026 —

## Return On Assets

What the numbers say: BRC Group Holdings, Inc. leads both roa at 8.4% and roa change at +10 percentage points.

Investor read: BRC Group Holdings, Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roa change signal.

Evidence: BRC Group Holdings, Inc. · 8.4% | 21× versus #2 · Freedom Holding Corp. | 4/8 recent comparable periods | 2/5 companies · 38 observations

Definition: ROA is the cleanest first comparison for lenders because the balance sheet is the operating asset.

### ROA — highest
1. BRC Group Holdings, Inc. (RILY): 8.4%
2. Freedom Holding Corp. (FRHC): 0.4%

### ROA change — fastest improvers
1. BRC Group Holdings, Inc. (RILY): +10.0 pp
2. Freedom Holding Corp. (FRHC): +2.0 pp

### 20-quarter ROA history
- FRHC: Sep 2021 12% | Dec 2021 2.8% | Mar 2022 -0.3% | Jun 2022 1.4% | Sep 2022 1.4% | Dec 2022 1.1% | Mar 2023 1.4% | Jun 2023 1.3% | Sep 2023 1.9% | Dec 2023 1.5% | Mar 2024 1.5% | Jun 2024 0.5% | Sep 2024 1.4% | Dec 2024 0.9% | Mar 2025 -1.6% | Jun 2025 0.3% | Sep 2025 0.4% | Dec 2025 0.7% | Mar 2026 0.4% | Jun 2026 —
- RILY: Sep 2021 1.8% | Dec 2021 2.1% | Mar 2022 0.7% | Jun 2022 -0.9% | Sep 2022 1.1% | Dec 2022 -0.3% | Mar 2023 1.0% | Jun 2023 0.9% | Sep 2023 -0.1% | Dec 2023 -0.5% | Mar 2024 -0.2% | Jun 2024 -5.2% | Sep 2024 -2.1% | Dec 2024 -4.2% | Mar 2025 -1.6% | Jun 2025 0.4% | Sep 2025 3.4% | Dec 2025 3.5% | Mar 2026 8.4% | Jun 2026 —

### 20-quarter ROA change history
- FRHC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −10.3 pp | Dec 2022 −1.7 pp | Mar 2023 +1.7 pp | Jun 2023 −0.1 pp | Sep 2023 +0.5 pp | Dec 2023 +0.4 pp | Mar 2024 +0.1 pp | Jun 2024 −0.8 pp | Sep 2024 −0.5 pp | Dec 2024 −0.6 pp | Mar 2025 −3.1 pp | Jun 2025 −0.2 pp | Sep 2025 −1.0 pp | Dec 2025 −0.2 pp | Mar 2026 +2.0 pp | Jun 2026 —
- RILY: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −0.7 pp | Dec 2022 −2.4 pp | Mar 2023 +0.3 pp | Jun 2023 +1.8 pp | Sep 2023 −1.2 pp | Dec 2023 −0.2 pp | Mar 2024 −1.2 pp | Jun 2024 −6.1 pp | Sep 2024 −2.0 pp | Dec 2024 −3.7 pp | Mar 2025 −1.4 pp | Jun 2025 +5.6 pp | Sep 2025 +5.5 pp | Dec 2025 +7.7 pp | Mar 2026 +10.0 pp | Jun 2026 —

## ROE — Leaders & Improvers

What the numbers say: LendingTree, Inc. leads both roe at 14% and roe change at +28.7 percentage points.

Investor read: LendingTree, Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roe change signal.

Evidence: LendingTree, Inc. · 14% | 366.7% versus #2 · Voya Financial, Inc. | 6/8 recent comparable periods | 5/5 companies · 96 observations

Definition: ROE shows the return to shareholders, but should be read with asset quality and leverage.

### ROE — highest
1. LendingTree, Inc. (TREE): 14%
2. Voya Financial, Inc. (VOYA): 3.0%
3. Hilltop Holdings Inc. (HTH): 1.7%
4. Freedom Holding Corp. (FRHC): 0.6%
5. BRC Group Holdings, Inc. (RILY): -140%

### ROE change — fastest improvers
1. LendingTree, Inc. (TREE): +28.7 pp
2. Freedom Holding Corp. (FRHC): +12.5 pp
3. Voya Financial, Inc. (VOYA): +0.5 pp
4. Hilltop Holdings Inc. (HTH): 0.0 pp
5. BRC Group Holdings, Inc. (RILY): −165.8 pp

### 20-quarter ROE history
- FRHC: Sep 2021 58% | Dec 2021 14% | Mar 2022 -26% | Jun 2022 9.2% | Sep 2022 8.5% | Dec 2022 7.3% | Mar 2023 8.3% | Jun 2023 9.5% | Sep 2023 15% | Dec 2023 11% | Mar 2024 9.9% | Jun 2024 3.5% | Sep 2024 11% | Dec 2024 6.8% | Mar 2025 -12% | Jun 2025 2.6% | Sep 2025 3.1% | Dec 2025 5.7% | Mar 2026 0.6% | Jun 2026 —
- VOYA: Sep 2021 3.6% | Dec 2021 4.8% | Mar 2022 1.3% | Jun 2022 1.8% | Sep 2022 0.5% | Dec 2022 1.8% | Mar 2023 1.9% | Jun 2023 4.0% | Sep 2023 4.6% | Dec 2023 2.2% | Mar 2024 5.0% | Jun 2024 4.1% | Sep 2024 1.7% | Dec 2024 2.0% | Mar 2025 2.5% | Jun 2025 2.6% | Sep 2025 4.0% | Dec 2025 2.3% | Mar 2026 3.0% | Jun 2026 —
- HTH: Sep 2021 3.9% | Dec 2021 2.6% | Mar 2022 1.0% | Jun 2022 1.6% | Sep 2022 1.5% | Dec 2022 1.2% | Mar 2023 1.2% | Jun 2023 1.0% | Sep 2023 1.9% | Dec 2023 1.5% | Mar 2024 1.4% | Jun 2024 1.1% | Sep 2024 1.5% | Dec 2024 1.7% | Mar 2025 2.0% | Jun 2025 1.7% | Sep 2025 2.1% | Dec 2025 1.9% | Mar 2026 1.8% | Jun 2026 1.7%
- TREE: Sep 2021 -1.1% | Dec 2021 12% | Mar 2022 -2.7% | Jun 2022 -3.3% | Sep 2022 36% | Dec 2022 -3.7% | Mar 2023 5.0% | Jun 2023 0.1% | Sep 2023 -101% | Dec 2023 8.1% | Mar 2024 1.2% | Jun 2024 5.7% | Sep 2024 -58% | Dec 2024 9.2% | Mar 2025 -15% | Jun 2025 9.6% | Sep 2025 12% | Dec 2025 -60% | Mar 2026 14% | Jun 2026 —
- RILY: Sep 2021 9.0% | Dec 2021 11% | Mar 2022 -1.3% | Jun 2022 -21% | Sep 2022 7.9% | Dec 2022 -7.6% | Mar 2023 2.9% | Jun 2023 8.7% | Sep 2023 -19% | Dec 2023 -26% | Mar 2024 -17% | Jun 2024 -282% | Sep 2024 -726% | Dec 2024 534% | Mar 2025 26% | Jun 2025 -32% | Sep 2025 -31% | Dec 2025 -28% | Mar 2026 -140% | Jun 2026 —

### 20-quarter ROE change history
- FRHC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −49.6 pp | Dec 2022 −6.9 pp | Mar 2023 +34.7 pp | Jun 2023 +0.3 pp | Sep 2023 +6.5 pp | Dec 2023 +3.9 pp | Mar 2024 +1.6 pp | Jun 2024 −6.0 pp | Sep 2024 −4.5 pp | Dec 2024 −4.4 pp | Mar 2025 −21.8 pp | Jun 2025 −0.9 pp | Sep 2025 −7.4 pp | Dec 2025 −1.1 pp | Mar 2026 +12.5 pp | Jun 2026 —
- VOYA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −3.1 pp | Dec 2022 −3.0 pp | Mar 2023 +0.6 pp | Jun 2023 +2.2 pp | Sep 2023 +4.1 pp | Dec 2023 +0.4 pp | Mar 2024 +3.1 pp | Jun 2024 +0.1 pp | Sep 2024 −2.9 pp | Dec 2024 −0.2 pp | Mar 2025 −2.5 pp | Jun 2025 −1.5 pp | Sep 2025 +2.3 pp | Dec 2025 +0.3 pp | Mar 2026 +0.5 pp | Jun 2026 —
- HTH: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −2.4 pp | Dec 2022 −1.4 pp | Mar 2023 +0.2 pp | Jun 2023 −0.6 pp | Sep 2023 +0.4 pp | Dec 2023 +0.3 pp | Mar 2024 +0.2 pp | Jun 2024 +0.1 pp | Sep 2024 −0.4 pp | Dec 2024 +0.2 pp | Mar 2025 +0.6 pp | Jun 2025 +0.6 pp | Sep 2025 +0.6 pp | Dec 2025 +0.2 pp | Mar 2026 −0.2 pp | Jun 2026 0.0 pp
- TREE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +36.6 pp | Dec 2022 −15.6 pp | Mar 2023 +7.7 pp | Jun 2023 +3.4 pp | Sep 2023 −136.1 pp | Dec 2023 +11.8 pp | Mar 2024 −3.8 pp | Jun 2024 +5.6 pp | Sep 2024 +42.6 pp | Dec 2024 +1.1 pp | Mar 2025 −15.9 pp | Jun 2025 +3.9 pp | Sep 2025 +69.5 pp | Dec 2025 −68.7 pp | Mar 2026 +28.7 pp | Jun 2026 —
- RILY: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −1.1 pp | Dec 2022 −18.4 pp | Mar 2023 +4.2 pp | Jun 2023 +29.6 pp | Sep 2023 −27.0 pp | Dec 2023 −18.2 pp | Mar 2024 −19.5 pp | Jun 2024 −290.4 pp | Sep 2024 −706.6 pp | Dec 2024 +560.0 pp | Mar 2025 +42.5 pp | Jun 2025 +250.0 pp | Sep 2025 +695.2 pp | Dec 2025 −561.7 pp | Mar 2026 −165.8 pp | Jun 2026 —

## Gross NPA — Leaders & Improvers

What the numbers say: There is not enough comparable evidence to name a reliable gross npa leader.

Investor read: The current leader sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current gnpa change signal.

Evidence: No comparable leader | Not enough peers | Not enough history | 0/5 companies · 0 observations

Definition: Lower gross NPA is better. Improvement means the ratio is falling, so ranks are intentionally inverted.

### Gross NPA — lowest

### GNPA change — fastest improvers

### 20-quarter Gross NPA history

### 20-quarter GNPA change history

## Valuation Against Growth & Quality

What the numbers say: LendingTree, Inc. has the lowest comparable P/BV ÷ ROE at 0.14×, 68.9% below Voya Financial, Inc.. Only 4 of 5 companies pass the guard, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.

Evidence: LendingTree, Inc. · 0.14× | 68.9% versus #2 · Voya Financial, Inc. | 0/8 recent comparable periods | 4/5 companies · 72 observations

Definition: Banks are compared on P/BV and P/BV÷ROE, not PEG. Lower is better only if asset quality and return durability hold; cheap book value with weakening NPAs is not automatically attractive.

### P/BV ÷ ROE — lowest return-adjusted price
1. LendingTree, Inc. (TREE): 0.1
2. Voya Financial, Inc. (VOYA): 0.5
3. Hilltop Holdings Inc. (HTH): 0.6
4. Freedom Holding Corp. (FRHC): 9.9

### P/BV — lowest P/BV
1. Hilltop Holdings Inc. (HTH): 1.1
2. Voya Financial, Inc. (VOYA): 1.4
3. LendingTree, Inc. (TREE): 2.0
4. BRC Group Holdings, Inc. (RILY): 3.3
5. Freedom Holding Corp. (FRHC): 6.0

### 20-quarter P/BV ÷ ROE history
- FRHC: Sep 2021 0.1 | Dec 2021 0.5 | Mar 2022 — | Jun 2022 0.5 | Sep 2022 0.6 | Dec 2022 0.7 | Mar 2023 0.7 | Jun 2023 0.6 | Sep 2023 0.4 | Dec 2023 0.4 | Mar 2024 0.4 | Jun 2024 1.1 | Sep 2024 0.4 | Dec 2024 0.9 | Mar 2025 — | Jun 2025 2.8 | Sep 2025 2.8 | Dec 2025 0.9 | Mar 2026 9.9 | Jun 2026 —
- VOYA: Sep 2021 0.2 | Dec 2021 0.2 | Mar 2022 0.8 | Jun 2022 0.7 | Sep 2022 2.9 | Dec 2022 1.0 | Mar 2023 0.9 | Jun 2023 0.5 | Sep 2023 0.5 | Dec 2023 0.8 | Mar 2024 0.4 | Jun 2024 0.4 | Sep 2024 1.0 | Dec 2024 0.8 | Mar 2025 0.6 | Jun 2025 0.6 | Sep 2025 0.4 | Dec 2025 0.6 | Mar 2026 0.5 | Jun 2026 —
- HTH: Sep 2021 0.3 | Dec 2021 0.4 | Mar 2022 1.0 | Jun 2022 0.5 | Sep 2022 0.5 | Dec 2022 0.8 | Mar 2023 0.8 | Jun 2023 1.0 | Sep 2023 0.5 | Dec 2023 0.7 | Mar 2024 0.7 | Jun 2024 0.9 | Sep 2024 0.6 | Dec 2024 0.5 | Mar 2025 0.5 | Jun 2025 0.5 | Sep 2025 0.5 | Dec 2025 0.5 | Mar 2026 0.5 | Jun 2026 0.6
- TREE: Sep 2021 — | Dec 2021 0.3 | Mar 2022 — | Jun 2022 — | Sep 2022 0.0 | Dec 2022 — | Mar 2023 0.3 | Jun 2023 11.9 | Sep 2023 — | Dec 2023 0.4 | Mar 2024 3.6 | Jun 2024 0.7 | Sep 2024 — | Dec 2024 0.5 | Mar 2025 — | Jun 2025 0.5 | Sep 2025 0.6 | Dec 2025 — | Mar 2026 0.1 | Jun 2026 —
- RILY: Sep 2021 0.3 | Dec 2021 0.3 | Mar 2022 — | Jun 2022 — | Sep 2022 0.3 | Dec 2022 — | Mar 2023 0.7 | Jun 2023 0.4 | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —

### 20-quarter P/BV history
- FRHC: Sep 2021 6.9 | Dec 2021 7.0 | Mar 2022 6.4 | Jun 2022 4.3 | Sep 2022 4.7 | Dec 2022 5.0 | Mar 2023 5.5 | Jun 2023 5.9 | Sep 2023 5.6 | Dec 2023 4.6 | Mar 2024 3.7 | Jun 2024 4.0 | Sep 2024 4.6 | Dec 2024 6.3 | Mar 2025 6.6 | Jun 2025 7.3 | Sep 2025 8.6 | Dec 2025 5.3 | Mar 2026 6.0 | Jun 2026 —
- VOYA: Sep 2021 0.8 | Dec 2021 0.9 | Mar 2022 1.1 | Jun 2022 1.3 | Sep 2022 1.4 | Dec 2022 1.8 | Mar 2023 1.8 | Jun 2023 2.1 | Sep 2023 2.2 | Dec 2023 1.8 | Mar 2024 1.8 | Jun 2024 1.7 | Sep 2024 1.6 | Dec 2024 1.6 | Mar 2025 1.5 | Jun 2025 1.5 | Sep 2025 1.5 | Dec 2025 1.4 | Mar 2026 1.4 | Jun 2026 —
- HTH: Sep 2021 1.0 | Dec 2021 1.1 | Mar 2022 1.0 | Jun 2022 0.9 | Sep 2022 0.8 | Dec 2022 1.0 | Mar 2023 0.9 | Jun 2023 1.0 | Sep 2023 0.9 | Dec 2023 1.1 | Mar 2024 1.0 | Jun 2024 1.0 | Sep 2024 1.0 | Dec 2024 0.9 | Mar 2025 0.9 | Jun 2025 0.9 | Sep 2025 1.0 | Dec 2025 0.9 | Mar 2026 1.0 | Jun 2026 1.1
- TREE: Sep 2021 4.3 | Dec 2021 3.6 | Mar 2022 4.5 | Jun 2022 1.6 | Sep 2022 1.5 | Dec 2022 1.3 | Mar 2023 1.5 | Jun 2023 1.2 | Sep 2023 2.0 | Dec 2023 3.2 | Mar 2024 4.3 | Jun 2024 3.8 | Sep 2024 8.2 | Dec 2024 4.8 | Mar 2025 6.6 | Jun 2025 4.3 | Sep 2025 6.7 | Dec 2025 2.6 | Mar 2026 2.0 | Jun 2026 —
- RILY: Sep 2021 2.3 | Dec 2021 3.7 | Mar 2022 3.0 | Jun 2022 2.5 | Sep 2022 2.5 | Dec 2022 2.2 | Mar 2023 2.1 | Jun 2023 3.3 | Sep 2023 3.0 | Dec 2023 2.2 | Mar 2024 2.8 | Jun 2024 -2.5 | Sep 2024 -0.3 | Dec 2024 -0.3 | Mar 2025 -0.2 | Jun 2025 -0.3 | Sep 2025 -0.7 | Dec 2025 -0.8 | Mar 2026 3.3 | Jun 2026 —

## Market action

Voya Financial, Inc. has the strongest one-year price move in Financial Conglomerates at +48.6%. It also leads on Mansfield relative strength against the S&P 500 at +20.3%. 2 of 5 covered companies are above zero on that measure. Every line covers 314 weekly closes through 2026-07-28.

### Strongest one-year price performers
1. Voya Financial, Inc. (VOYA): 49%
2. Hilltop Holdings Inc. (HTH): 35%
3. BRC Group Holdings, Inc. (RILY): 32%
4. Freedom Holding Corp. (FRHC): -15%
5. LendingTree, Inc. (TREE): -17%

### Strongest relative strength versus NIFTY 500
1. Voya Financial, Inc. (VOYA): 20%
2. Hilltop Holdings Inc. (HTH): 3.5%
3. Freedom Holding Corp. (FRHC): -1.5%
4. BRC Group Holdings, Inc. (RILY): -6.9%
5. LendingTree, Inc. (TREE): -25%

## What can make this comparison misleading?
- A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
- A high ROE can be manufactured with leverage. Read it beside ROA and asset quality.
- The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
- An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
- Banks and lenders are not forced through operating-margin or ROCE comparisons; missing lender-specific fields remain visibly missing.
- Thin comparisons: Funding base, Return on assets, Asset quality have fewer than three usable current readings.

## Every company
- Freedom Holding Corp. (FRHC) — market value ₹9.8K Cr; latest fundamentals Mar 2026
- Voya Financial, Inc. (VOYA) — market value ₹9.1K Cr; latest fundamentals Mar 2026
- Hilltop Holdings Inc. (HTH) — market value ₹2.3K Cr; latest fundamentals Jun 2026
- LendingTree, Inc. (TREE) — market value ₹572 Cr; latest fundamentals Mar 2026
- BRC Group Holdings, Inc. (RILY) — market value ₹270 Cr; latest fundamentals Mar 2026

## Methodology and freshness

Fundamentals through Jun 2026; prices through 2026-07-28.
Up to 20 quarters per company. Reported history is normalized to Indian rupees crore. Missing values are not interpolated. Derived metrics are calculated only when their inputs are comparable.

## Frequently asked questions

### Which Financial Conglomerates company is the biggest?

Voya Financial, Inc. is the largest, with trailing-twelve-month income of $8,251 million, ahead of Freedom Holding Corp. at $1,831 million. That covers 4 of 5 companies with comparable reporting through Mar 2026.

### Which Financial Conglomerates company is growing fastest?

BRC Group Holdings, Inc. has the fastest income growth at 78.4% year on year, across 4 of 5 comparable companies. Fast growth off a small base is not the same as proven scale — check whether the rate holds across several quarters on the chart above before treating it as a trend.

### Which Financial Conglomerates company makes the most profit?

Voya Financial, Inc. earns the most, at $777 million of trailing-twelve-month net profit, from 4 of 5 comparable companies. Voya Financial, Inc. has the fastest profit growth at 28.4%, though growth off a small or recovering profit base overstates how much has actually changed.

### Which Financial Conglomerates company earns the highest return on capital?

BRC Group Holdings, Inc. leads on return on assets at 8.4%, across 2 of 5 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

### Which Financial Conglomerates stock is the cheapest?

On price-to-book divided by return on equity — where a LOWER number is cheaper — LendingTree, Inc. screens cheapest at 0.14×. Only 4 of 5 companies pass the comparability guard, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

### Which Financial Conglomerates lender has the largest funding base?

Hilltop Holdings Inc. has the largest reported deposit base at $10,514 million. For lenders, deposits and borrowings are operating inputs rather than leverage, so they are read against asset quality and returns instead of as debt.

### Is the Financial Conglomerates sector beating the market?

Financial Conglomerates has outperformed S&P 500 by 11.9% over the last 52 weeks and 4.5% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 2 of 5 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

### Which Financial Conglomerates stock has the strongest price momentum?

Voya Financial, Inc. has the strongest relative strength against S&P 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

### Which Financial Conglomerates company scores highest for research priority?

Voya Financial, Inc. scores 57.1 out of 100 with 61.7% evidence confidence, from 20.1 points on growth and earnings, 13.2 on capital efficiency, 3.8 on valuation and 20 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

### How many Financial Conglomerates companies does this comparison cover, and over what period?

It compares 5 listed companies over up to 20 reported quarters of fundamentals and 5 fiscal years of capital allocation, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

### What is the total market cap of the Financial Conglomerates sector?

The 5 Financial Conglomerates companies on this page carry $22,036 million of combined market value. Freedom Holding Corp. is the largest at $9,845 million, about 45% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-07-28.

### What is the Financial Conglomerates sector's P/B ratio?

The median price-to-book ratio across the 5 Financial Conglomerates companies on this page is 2×, measured on the 5 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-07-28.

### How is the Financial Conglomerates sector performing?

2 of the 5 covered Financial Conglomerates companies are beating S&P 500 on Mansfield relative strength. The sector itself is 11.9% ahead of S&P 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-07-28.

### How many Financial Conglomerates stocks are listed in the US?

This comparison covers 5 listed Financial Conglomerates companies in the US, each above the size floor the site applies. The full ranked list is on this page, with reported fundamentals through Jun 2026. Membership is the full industry list — nothing is dropped for having thin data.

### Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

### Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.

Narrative sector analysis: https://www.sectoralpha.in/sectors/financial-conglomerates