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Friday 6 November 2026 Export BEN’s income statement to Excel — free account

Franklin Resources Inc

BEN Financial Asset Management

Franklin Resources Inc’s revenue for fiscal 2025 (year ended September 2025) was $8.8 billion, up 3.45% from fiscal 2024.

Revenue
+14.3%
EPS
+106.7%
Free cash flow
−55.7%
Total debt
+28.5%

Quarter to June 2026, against a year earlier

32.40 1.47 −4.34%
Market cap
$16.4B
P/E
22.0×
Fwd P/E
16.0×
Dividend yield
4.07%
F-score
5/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by products and services Fiscal 2025

  • Investment management fees
  • Sales and distribution fees
  • Shareholder servicing fees
  • Other

Every year since 2009 →

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 48.01%

Capital & Financial Ratios $m

Size
Market Cap 16,370.00
Revenue ttm 9,324.10
Net income ttm 1,137.20
Free cash flow ttm 231.60
Net debt Q 11,974.50
Valuation
P/E 22.04
Forward P/E 16.00
Price / sales 1.79
Forward P/S Powerpack
Price / FCF 72.07
Price / book 1.29
Financial health
Current ratio Q 1.48
Debt / equity Q 1.22
Interest coverage Q 9.18
Growth
Revenue growth Q +14.26% (above 0%: growing)
Operating income growth Q +40.04% (above 0%: growing)
EPS, this year +30.70% (at or above 15%: strong)
EPS, next year A +8.99%
Revenue, next year A +0.46%
EPS, past 5 yrs −10.56% (below 0%: weak)
EPS, next 5 yrs A +17.35% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

P/E against its own 10 years 75.03%
10-year low 10-year high
P/S against its own 10 years 41.69%
10-year low 10-year high
P/B against its own 10 years 56.66%
10-year low 10-year high

Dividends

Yield
4.07%
Annual rate
1.32
Payout ratio
89.8%
Growth, 2017–25
+5.67%/yr
  1. 0.83 ’17
  2. 0.72 ’18 −13
  3. 1.05 ’19 +46
  4. 1.09 ’20 +4
  5. 1.13 ’21 +4
  6. 1.17 ’22 +4
  7. 1.20 ’23 +3
  8. 1.56 ’24 +30
  9. 1.29 ’25 −17
  10. 1.32 ’26e +2
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 4,402 4,409 3,574 3,761
Receivables 1,348 1,479 1,542 1,567
Inventory — — — —
Other — 420 — —
5,751 5,888 5,116 5,328
2023 2024 2025 Q'26
Payables 880 1,413 1,678 1,877
ST’ Debt — — — —
Other — 907 — —
3,058 3,621 3,646 3,608

Compound Annual Growth %

10y 5y 3y
Sales 0.99% 9.52% 1.96%
Cash Flow (7.21%) (0.32%) (18.32%)
Earnings (13.55%) (9.65%) (27.50%)
Book Value 0.40% 3.66% 1.88%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.66 Actual 0.72

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.57 0.67 Beat by 0.10
Q1 FY26 0.55 0.70 Beat by 0.15
Q2 FY26 0.55 0.71 Beat by 0.16
Q3 FY26 0.66 0.72 Beat by 0.06
Q4 FY26 0.78 — Reports 6 November 2026

EPS $

Dec Mar Jun Sep Year
’26 0.46 0.49 0.31 — —
’25 0.29 0.26 0.15 0.21 0.91
’24 0.50 0.23 0.32 (0.19) 0.85
’23 0.32 0.38 0.44 0.58 1.72
’22 0.88 0.68 0.50 0.46 2.53
’21 0.67 0.74 0.86 1.30 3.57
’20 0.70 0.16 0.59 0.15 1.59
Fiscal quarters ending in the months shown.

Revenue $m

Dec Mar Jun Sep Year
’26 2,327 2,295 2,358 — —
’25 2,252 2,111 2,064 2,344 8,771
’24 1,991 2,153 2,123 2,211 8,478
’23 1,967 1,927 1,969 1,986 7,849
’22 2,224 2,081 2,031 1,939 8,275
’21 1,995 2,077 2,173 2,181 8,426
’20 1,389 1,311 1,161 1,705 5,567
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Dec Mar Jun Sep Year
’26 (255) (28) 581 — —
’25 (145) (50) 1,282 (21) 1,066
’24 (252) 137 528 558 971
’23 (256) (73) 654 765 1,089
’22 166 104 820 866 1,957
’21 291 255 193 506 1,245
’20 32 109 562 381 1,083
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Dec Mar Jun Sep Year
’26 (246) (32) 562 — —
’25 (217) (88) 1,268 (52) 912
’24 (271) 95 482 488 794
’23 (284) (89) 576 737 940
’22 150 78 807 832 1,866
’21 278 248 179 462 1,166
’20 6 62 550 362 980
Fiscal quarters ending in the months shown.

Valuation

The price implies the dividend a share growing 8.2% a year for ten years. It grew 2.0% a year over the last ten.

Implied
8.2%
10 years, reported
2.0%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

2.9
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to September

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 6,618 6,392 6,205 5,669 5,567 8,426 8,275 7,849 8,478 8,771 9,324 +3.2% 8,811 8,905 9,339 +2.1%
Gross margin, % 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 0.0 pt
EBT 2,500 2,549 2,215 1,648 1,018 2,444 1,729 1,338 823 787 1,523 (12.1%)
EBT margin, % 37.77 39.88 35.70 29.06 18.29 29.01 20.90 17.05 9.71 8.97 16.33 (28.8) pt
Net income 1,758 1,790 743 1,206 787 2,095 1,333 1,026 608 549 1,137 (12.1%)
Per share, $
Per share, $ Revenue 11.34 11.44 11.55 11.26 11.32 17.20 16.93 16.02 16.64 16.97 18.10 +4.6%
Earnings 2.94 3.01 1.39 2.35 1.59 3.58 2.53 1.72 0.85 0.91 1.47 (12.2%)
Cash flow 2.96 2.03 4.15 0.53 2.20 2.54 4.00 2.22 1.91 2.06 0.54 (3.9%)
Capex (0.17) (0.13) (0.20) (0.46) (0.21) (0.16) (0.18) (0.30) (0.35) (0.30) (0.09) +6.7%
Free cash flow 2.79 1.90 3.95 0.07 1.99 2.38 3.82 1.92 1.56 1.76 0.45 (5.0%)
Book value 21.46 23.15 19.00 21.10 22.10 24.11 25.17 25.61 25.99 25.17 25.08 +1.8%
Shares, m 584 559 537 504 492 490 489 490 510 517 517 (1.3%)
Valuation, ×
Valuation, × P/E 12.10 14.91 21.17 12.28 12.72 8.30 8.51 14.08 23.43 25.42 22.04 15.3
P/S 3.14 3.91 2.64 2.56 1.80 1.73 1.27 1.51 1.21 1.36 1.79 2.1
P/B 1.66 1.93 1.61 1.37 0.92 1.23 0.86 0.95 0.78 0.92 1.29 1.2
EV/Sales 2.17 2.71 1.64 1.64 2.13 2.02 1.76 2.39 2.12 2.36 — 2.1
EV/FCF 8.81 16.35 4.81 267.93 12.08 14.56 7.81 19.93 22.64 22.68 — 39.8
Cash, $m
Cash, $m Operating cash flow 1,728 1,135 2,230 269 1,083 1,245 1,957 1,089 971 1,066 278 (5.2%)
Capex (98) (75) (106) (234) (104) (79) (90) (149) (177) (154) (46) +5.2%
Free cash flow 1,630 1,061 2,123 35 980 1,166 1,866 940 794 912 232 (6.3%)
Balance, $m
Balance, $m Working capital 8,280 8,562 5,482 4,701 1,693 2,551 2,947 2,693 2,268 1,469 1,720 (17.5%)
Net debt (6,400) (7,652) (6,182) (5,210) 1,828 2,423 4,052 6,882 7,713 8,725 11,975 n/m
Shareholders’ equity 12,528 12,936 10,208 10,624 10,869 11,811 12,299 12,548 13,243 13,007 12,920 +0.4%
Returns, %
Returns, % ROA 10.58 10.02 4.68 8.19 4.33 7.65 4.74 2.91 1.38 1.46 2.21 (9.1) pt
ROIC 24.13 26.78 31.49 16.93 5.16 8.23 6.78 3.55 1.22 1.74 2.27 (22.4) pt
ROE 13.71 13.23 6.45 11.37 7.29 15.46 10.27 6.80 3.35 3.59 5.84 (10.1) pt
People
People Employees 9,100 9,400 9,700 9,600 11,800 10,300 9,800 9,200 10,200 9,800 — +0.8%
Revenue/emp, $m 0.73 0.68 0.64 0.59 0.47 0.82 0.84 0.85 0.83 0.89 — +2.3%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Sep 2025 · latest quarter Jun 2026

Business profile

Updated

Franklin Resources, now operating as Franklin Templeton, is a holding company for investment-management subsidiaries. Founded in 1947 and headquartered in San Mateo, it manages money for people and institutions rather than taking deposits or making consumer loans.

The company invests client assets in equity, fixed income, alternatives, multi-asset portfolios and cash-management strategies. In plain English, it builds and runs portfolios of shares, bonds, private credit, private equity, real estate, infrastructure and other investments, according to each product’s stated mandate. Clients can invest through mutual funds, closed-end funds, exchange-traded funds (ETFs), private funds, separately managed accounts, collective investment trusts and other vehicles.

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by products and services, and margins
Investment management fees 6,982 79.60%
Sales and distribution fees 1,475 16.81%
Shareholder servicing fees 265 3.02%
Other 50 0.57%
Gross margin 100.00%
Operating margin 6.89%
Pre-tax margin 8.97%

Revenue by segment since 2009

Franklin Resources Inc vs peers in Asset Management (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
PS Pershing Square Inc. $20.1B — — — n/m — 100.00% (166.36%) Compare
TPG TPG Inc. $18.0B 19.7× 23.7× −0.20% (below 0%: shrinking) +367.06% (above 0%: growing) −57.60% (below 0%: shrinking) 100.00% 18.08% Compare
BEN Franklin Resources Inc $16.4B 22.0× 16.0× +14.26% (above 0%: growing) +106.67% (above 0%: growing) −55.71% (below 0%: shrinking) 100.00% 9.15%
OWL Blue Owl Capital Inc. $15.5B 71.1× 35.0× +10.79% (above 0%: growing) +200.00% (above 0%: growing) +42.36% (above 0%: growing) 100.00% 18.32% Compare
CRBG Corebridge Financial, Inc. $15.0B 7.3× 16.6× +13.81% (above 0%: growing) +1,100.22% (above 0%: growing) +2,420.83% (above 0%: growing) 53.67% 39.88% Compare
CG Carlyle Group Inc. $14.2B 39.7× 14.5× −28.57% (below 0%: shrinking) −57.30% (below 0%: shrinking) +82.56% (above 0%: growing) 100.00% 39.97% Compare
EQH Equitable Holdings, Inc. $14.2B 9.5× 15.9× +167.66% (above 0%: growing) n/m +385.71% (above 0%: growing) 73.90% 37.18% Compare
ARCC Ares Capital Corporation $14.0B 15.8× 14.9× −2.43% (below 0%: shrinking) −22.26% (below 0%: shrinking) +236.09% (above 0%: growing) 100.00% 72.74% Compare
IVZ Invesco Ltd. $11.9B — (loss-making) 10.1× +14.19% (above 0%: growing) −1.49% (below 0%: shrinking) −24.49% (below 0%: shrinking) 65.64% 23.30% Compare
Median of peers $14.6B 17.8× 15.9× +10.79% +99.26% +82.56% 100.00% 30.24%

All 121 Asset Management stocks →

From the latest earnings call

Updated

  • Jenny Johnson said clients generated positive long-term net flows across every asset class and geography, while institutional demand favored integrated public- and private-market solutions.
  • Matt Nichols said the company expects to reach at least a 30.0% operating margin later in FY2027 as it pursues expense discipline.

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 53.19%
Held by the ten largest 31.73%
Holder Shares Stake Change
Vanguard 36.64m 7.22% −68.92k
BlackRock 28.91m 5.70% +143.11k
Power Corp of Canada 25.34m 4.99% −6.22m
State Street 19.73m 3.89% +119.81k
Invesco 12.09m 2.38% −1.47m
Dimensional Fund Advisors 10.22m 2.01% −635.50k
Geode Capital Management 7.91m 1.56% +100.91k
Goldman Sachs 7.26m 1.43% −185.90k
Azora Capital LP 6.91m 1.36% +1.81m
ProShare Advisors LLC 6.02m 1.19% −534.00k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 22 December 2025

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 16.84m 21.48m 144.34
2024 17.24m 11.59m 118.44
2023 15.69m 18.80m 137.31
2022 15.73m 10.15m 114.74
2021 9.86m 13.23m 151.77

Ownership

Directors and executive officers, together 23.40%
Rupert H. Johnson, Jr. 20.00%
Charles B. Johnson 18.90%
The Vanguard Group 6.20%
Great-West Lifeco Inc. 6.10%
BlackRock, Inc. 5.70%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Franklin Resources Inc (BEN) Latest News

29 Oct

Impact 4 · · 24/7 Wall St.
Impact 3 · · Business Wire

28 Oct

Impact 4 · · Zacks
Impact 3 · · Simply Wall St.

27 Oct

Impact 4 · · Simply Wall St.
Impact 4 · · Simply Wall St.
Impact 3 · · Business Wire
Impact 3 · · Barchart

26 Oct

Impact 4 · · ccn.com
Impact 3 ·
Impact 3 · · beincrypto.com

24 Oct

Impact 4 · · Stocktwits
Impact 3 · · 24/7 Wall St.

23 Oct

Impact 3 · · CNW Group

15 Oct

Impact 3 · · 24/7 Wall St.

14 Oct

Impact 4 · · Business Wire

9 Oct

Impact 4 · · Simply Wall St.
Impact 3 · · Zacks
Impact 3 · · Stocktwits

8 Oct

Impact 3 · · Zacks

7 Oct

Impact 3 · · Bloomberg

6 Oct

Impact 4 · · Zacks

5 Oct

Impact 3 · · Business Wire

4 Oct

Impact 3 · · Simply Wall St.

2 Oct

Impact 3 · · Simply Wall St.

1 Oct

Impact 3 · · Business Wire

29 Sep

Impact 4 · · Zacks

28 Sep

Impact 4 · · unchainedcrypto.com

24 Sep

Impact 3 · · TheStreet
Impact 3 · · Barchart

BEN metrics, ten years each

stockrow.com/BEN · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com