— Know what they know.
/
Not Investment Advice

BEN

NYSE · USD
Franklin Resources, Inc.
Financial Services · Asset Management
CEO Jennifer Johnson Employees 9,800 R&D / revenue 0.0%
Last price
$30.98−1.27%last session
Market cap
$15.7B
P/E (TTM)
20.7x
From 52w high
−14.6%
From 52w low
+46.8%
1-year return
+40.0%
RSI 14 · vs SMA200
36.2 · +3.7%
IS score
30.0/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

BEN   SPY   XLF (sector ETF) · weekly closes
100120140160Jan 26Apr 26Jul 26Oct 26BEN 140SPY 116XLF 107

Score DNA

Each bar is a 0-100 score within the scored universe
36
Profitability
62
Growth
66
Value
59
Momentum
30
Risk (safety)
42
Quality
50
Balance sheet
53
Earnings quality

Flags

Strengths
✓ Congress buying
Warnings
None of the computed warning flags fires for BEN (Altman, Beneish, accruals, FCF, dilution).
Observations
Moat model: Weak, Switching CostsPiotroski 5 / 9Beta 1.571 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
0
No open-market sales on file
No Form 144 notices in 12 months
CONGSTOCK Act · 180 days
Congressional purchases
1
Last disclosed purchase 2026-03-27
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
+61
116 new holders, 53 closed
671 filers hold 53.5% · 238 added, 224 trimmed
ETFETF holdings · 30 days
Net funds accumulating
0
525 funds adding shares
525 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
40.4%
20-day avg 47.7%, 50-day avg 53.1%
Latest 7.3 pp under its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$8.8B
Revenue growth YoY+3.5%
Gross margin80.3%
Operating income$604.1M
Operating margin6.9%
Net income$524.9M
Net margin6.0%
EPS (diluted)$0.91
Cash flow
Operating cash flow$1.1B
Capital expenditure$154.5M
Free cash flow$911.6M
FCF conversion (FCF / OCF)85.5%
Stock-based compensation$214.8M
FCF less SBC$696.8M
Buybacks$240.3M
Dividends$683.7M
Balance sheet & returns
Cash & short-term investments$3.6B
Total debt$12.3B
Net debt$8.7B
Shareholders' equity$14.2B
Goodwill & intangibles$10.4B
Debt / equity1.42
ROE (TTM)7.4%
ROIC (TTM)1.9%
Operating margin by fiscal year
22.3%FY202121.4%FY202214.0%FY20234.8%FY20246.9%FY2025
Revenue $8.4B (FY2021) to $8.8B (FY2025), a 1.0% CAGR.

Valuation

P/E (TTM)20.7x
EV / EBITDA16.4x
Price / sales1.69x
Price / FCF70.5x
FCF yield1.42%
Buyback yield1.53%
SBC / revenue2.1%
Price / book1.36x
Forward P/E FY20279.8x
Forward P/E FY20288.6x
Forward multiples divide today's price by Street EPS estimates. Street mean target $36.25 across 4 analysts last quarter is theirs, not ours.

BEN vs industry median

908 companies in Asset Management
Gross margin 67.6% 84.6% Operating margin 9.7% 34.7% Net margin 9.6% 18.2% ROIC 1.9% 6.4%
BEN (TTM)Industry median Asset turnover 0.26 vs industry 0.11 · financial leverage 3.09

Earnings delivery

Next report 2026-11-06 · consensus EPS $0.77
75%
beat rate, 9 of 12 quarters
+7.4%
median EPS surprise
5
longest beat streak
+40+14-2+5-2+5-1+2+16+27+29+9
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-10-31 to 2026-07-31. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
BEN Franklin Resources, Inc. $15.7B20.7x7.4%9.6%+3.5% +40.0%
CRBG Corebridge Financial, Inc. $15.3B20.1x7.9%0.1%+229.2% +13.2%
TPG TPG Inc. $16.3B34.9x19.6%5.1%+65.6% −21.9%
EQH Equitable Holdings, Inc. $14.5Bn/m-508.8%-27.3%−22.1% +13.3%
PS Pershing Square Inc. $17.8B1,112.0x-3.1%-78.8%— +84.5%
OWL Blue Owl Capital Inc. $13.8B74.4x3.7%1.5%+14.2% —
ARCC Ares Capital Corporation $13.4B13.9x6.9%22.3%+9.2% —
CG The Carlyle Group Inc. $13.0B35.9x5.6%11.9%−9.9% —
12-month window: SPY +15.9%, sector ETF XLF +7.2%. Past returns describe history only.

Recent 8-K filings

2026-08-10Financial Obligation; Other Events; Exhibits
2026-07-31Earnings Release; Bylaws Amendment; Regulation FD; Exhibits
2026-07-30Material Agreement; Termination of Agreement; Financial Obligation; Exhibits
2026-07-23Officer/Director Change; Exhibits
2026-06-05Other Events; Exhibits
2026-04-28Earnings Release; Regulation FD; Exhibits

Context

Shares outstanding508,077,000
Free float52.9%
Institutional ownership53.5%
Beta1.57
Dividend yield4.26%
Last dividend$0.33 on 2026-09-30
50 / 200-day average$33.31 / $29.88
Large-cap Financial Services median P/E14.0x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Weak).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where BEN sits among 110 scored companies in Asset Management (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureBENIndustry medianIndustry percentileSector median
P/E (TTM) 17.7x 13.3x
64th		 11.9x
PEG (P/E ÷ 3-yr EPS CAGR) 15.31 0.88
98th		 1.04
Price / sales 1.7x 3.9x
14th		 2.5x
Price / book 1.3x 1.4x
48th		 1.3x
Price / tangible book 12.1x 1.4x
90th		 1.6x
Price / free cash flow 70.5x 10.3x
92nd		 11.8x
Price / operating cash flow 58.4x 10.2x
96th		 11.7x
Enterprise value $28.7B $3.4B
85th		 $3.4B
EV / sales 3.1x 6.7x
19th		 6.0x
EV / EBITDA 16.4x 12.2x
68th		 13.0x
EV / EBIT 20.5x 14.4x
77th		 15.5x
EV / free cash flow 128.5x 11.6x
95th		 15.9x
Earnings yield 5.7% 5.7%
50th		 7.9%
FCF yield 1.4% 8.3%
25th		 6.3%
Operating cash flow yield 1.7% 8.6%
19th		 7.8%
Graham number (per share) $29.73 $27.85
53rd		 $50.71

Profitability (TTM)

MeasureBENIndustry medianIndustry percentileSector median
Gross margin 67.6% 71.8%
34th		 71.9%
EBITDA margin 18.7% 39.3%
20th		 37.9%
Operating margin 9.7% 30.2%
18th		 23.3%
EBIT margin 15.0% 32.7%
21st		 23.3%
Net margin 9.6% 15.3%
33rd		 18.7%
NOPAT margin 6.7% 23.0%
18th		 18.7%
FCF margin 2.4% 24.3%
24th		 23.3%
Operating cash flow margin 2.9% 29.1%
18th		 26.7%
R&D / revenue 0.0% 0.0%
0th		 0.0%
SG&A / revenue 45.7% 9.8%
89th		 20.1%
Stock comp / revenue 2.1% 0.0%
73rd		 0.7%
Effective tax rate 30.8% 19.9%
96th		 21.0%

Returns on capital

MeasureBENIndustry medianIndustry percentileSector median
ROE (on average equity) 7.4% 11.2%
43rd		 11.9%
ROA 2.6% 2.3%
53rd		 1.4%
ROIC 2.5% 5.5%
27th		 7.8%
ROCE 4.6% 4.9%
43rd		 5.8%
Return on tangible assets 4.1% 4.7%
39th		 2.0%
Cash ROIC (OCF / invested capital) 1.1% 10.0%
17th		 11.4%
Gross profitability (GP / assets) 17.4% 8.8%
71st		 10.3%
ROIC, 3-yr average 2.4% 5.6%
19th		 7.1%
ROIC, 5-yr average 5.2% 6.0%
45th		 7.3%
ROE, 5-yr average 7.7% 11.2%
35th		 10.7%
Incremental ROIC 13.4% 12.9%
50th		 8.4%

Growth

MeasureBENIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 7.9% 15.4%
36th		 7.1%
Revenue growth (QoQ) 2.8% 6.6%
41st		 2.8%
Revenue CAGR, 3 yr 6.1% 13.1%
25th		 10.8%
Revenue CAGR, 5 yr 3.4% 5.8%
38th		 11.3%
Gross profit CAGR, 3 yr -0.1% 20.6%
5th		 18.0%
Operating income CAGR, 3 yr -6.6% 12.7%
14th		 8.8%
Net income growth (TTM YoY) 176.3% 17.8%
92nd		 24.7%
Net income CAGR, 3 yr 2.8% 9.1%
38th		 9.4%
EPS growth (TTM YoY) 176.5% 14.5%
94th		 25.1%
EPS CAGR, 3 yr 1.2% 5.5%
35th		 7.3%
EPS CAGR, 5 yr -7.4% -5.9%
43rd		 4.2%
FCF growth (TTM YoY) -84.6% 18.5%
3rd		 15.9%
FCF CAGR, 3 yr -40.0% 8.1%
7th		 8.5%
Operating cash flow CAGR, 3 yr -39.1% 6.6%
5th		 8.4%
Book value CAGR, 3 yr -2.2% 3.6%
26th		 8.9%
Dividend CAGR, 3 yr -1.2% -1.2%
50th		 1.9%
Sustainable growth rate 1.7% 3.5%
46th		 8.3%

Margin history & stability

MeasureBENIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 76.0% 63.7%
74th		 63.4%
Operating margin, 3-yr average 8.3% 33.3%
11th		 21.4%
Net margin, 3-yr average 7.8% 26.3%
22nd		 16.5%
FCF margin, 3-yr average 10.6% 28.9%
29th		 28.2%
Revenue stability (0-1) 0.78 0.58
66th		 0.86
Earnings stability (0-1) 0.46 0.40
57th		 0.37
Margin stability (0-1) 0.91 0.80
78th		 0.81

Liquidity (latest quarter)

MeasureBENIndustry medianIndustry percentileSector median
Cash & short-term investments $3.8B $142.5M
84th		 $145.5M
Net cash (− = net debt) −$12.9B −$692.3M
9th		 −$676.0M
Working capital $2.0B $90.6M
84th		 $86.3M
Current ratio 1.34 1.16
52nd		 1.19
Quick ratio 1.34 1.16
53rd		 1.19
Cash ratio (cash + ST investments / current liabilities) 0.63 0.62
51st		 0.55
Defensive interval (days) 360 days 365 days
45th		 417 days

Leverage & solvency (latest quarter)

MeasureBENIndustry medianIndustry percentileSector median
Total debt $16.7B $1.3B
93rd		 $1.2B
Debt / equity 1.42 0.99
79th		 0.81
Net debt / equity 1.10 0.84
64th		 0.66
Debt / assets 46.1% 37.6%
68th		 33.5%
Debt / capital 58.7% 49.7%
79th		 44.6%
Debt / EBITDA 9.56 4.80
76th		 3.20
Net debt / EBITDA 7.41 3.41
68th		 2.19
Interest coverage (EBIT / interest) 15.7x 2.6x
83rd		 2.9x
Cash interest coverage 3.0x 3.1x
49th		 3.7x
Debt payback (years of OCF) 62.0 yrs 3.5 yrs
98th		 3.7 yrs
Liabilities / assets 64.3% 55.3%
73rd		 86.2%
IS credit model rating BB+ — —
Implied credit spread (bps) 400 475
39th		 175

Efficiency

MeasureBENIndustry medianIndustry percentileSector median
Asset turnover 0.27 0.12
72nd		 0.15
Fixed asset turnover 5.55 9.51
26th		 11.68
Inventory turnover —
Receivables turnover 5.7 8.4
35th		 8.2
Days sales outstanding 64 days 37 days
68th		 43 days
Days inventory outstanding —
Days payables outstanding 152 days 49 days
73rd		 39 days
Cash conversion cycle (days) −87 days −8 days
26th		 0 days
Capex / revenue 0.5% 0.0%
71st		 0.2%
Capex / depreciation 0.13 0.05
60th		 0.13
Operating expense ratio 45.0% 43.6%
52nd		 38.9%

Cash flow & earnings quality

MeasureBENIndustry medianIndustry percentileSector median
Operating cash flow / net income 0.30 1.20
23rd		 1.28
FCF / net income 0.25 0.99
28th		 1.15
FCF / operating cash flow 82.9% 99.6%
15th		 98.5%
Capex / operating cash flow 17.1% 0.0%
88th		 0.6%
Accruals ratio 1.8% -1.4%
74th		 -2.0%
Sloan accruals ratio -5.7% -0.3%
22nd		 -0.6%
Earnings quality score (0-1) 0.25 0.75
0th		 0.75

Dividends & buybacks

MeasureBENIndustry medianIndustry percentileSector median
Dividend yield 4.3% 6.6%
37th		 2.3%
Dividend per share (TTM) $1.32 $1.49
40th		 $1.03
Payout ratio (dividends / net income) 77.2% 67.8%
53rd		 30.0%
Dividends / FCF 308.0% 52.7%
92nd		 49.0%
Dividend growth (YoY) 1.3% 6.9%
36th		 6.4%
Buyback yield 2.9% 1.0%
65th		 1.7%
Shareholder yield (dividends + buybacks) 7.3% 10.3%
34th		 5.2%
Share count change (YoY) -0.1% 0.0%
43rd		 -0.3%
Buybacks, last 5 years $1.5B $40.9M
78th		 $85.3M

Scores & forensic checks

MeasureBENIndustry medianIndustry percentileSector median
IS score 30 45
15th		 53
IS profitability 36 60
22nd		 59
IS growth 62 53
65th		 57
IS value 66 66
50th		 77
IS momentum 59 59
50th		 76
IS risk (safety) 30 15
61st		 65
IS quality 42 64
22nd		 71
IS balance sheet 50 42
64th		 51
IS earnings quality 53 68
39th		 74
IS cash flow 20 69
14th		 71
Piotroski F-score (0-9) 5 6
30th		 6
Altman Z-score —
Beneish M-score —
Ohlson O-score −7.69 −7.13
38th		 −6.00
IS credit score 47 41
61st		 68

Per share

MeasureBENIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $1.73 $1.19
56th		 $3.36
Book value per share $22.75 $16.24
74th		 $28.13
Tangible book per share $5.14 $13.69
19th		 $21.49
Revenue per share $18.07 $4.23
73rd		 $17.62
FCF per share $0.43 $1.85
24th		 $1.99
Operating cash flow per share $0.52 $2.62
24th		 $2.45
Cash per share $7.29 $1.06
76th		 $1.75

Size (TTM)

MeasureBENIndustry medianIndustry percentileSector median
Market cap $15.7B $3.1B
80th		 $2.5B
Revenue $9.3B $703.1M
83rd		 $1.0B
EBITDA $1.7B $205.6M
81st		 $269.3M
Net income $891.2M $151.7M
81st		 $168.0M
Free cash flow $223.3M $219.5M
50th		 $160.0M
Total assets $36.3B $2.9B
83rd		 $8.5B
Shareholders' equity $11.7B $1.2B
84th		 $1.5B
Employees 10,100 1,700
85th		 1,392

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-10-13Merchant Thomas C
EVP, General Counsel
 Award / grant 19,244$31.18$600,028102,049
2026-10-13Merchant Thomas C
EVP, General Counsel
 Award / grant 18,426——120,475
2026-10-13Murphy Terrence
Co-President, Public Markets
 Award / grant 137,589$31.18$4.3M528,473
2026-10-13Murphy Terrence
Co-President, Public Markets
 Award / grant 3,689——532,162
2026-10-13Nicholls Matthew
Co-President, CFO & COO
 Award / grant 99,664$31.18$3.1M816,928
2026-10-13Nicholls Matthew
Co-President, CFO & COO
 Award / grant 117,420——934,348
2026-10-13Johnson Jennifer M
Director, Chief Executive Officer
 Award / grant 202,053$31.18$6.3M3,640,034
2026-10-13Johnson Jennifer M
Director, Chief Executive Officer
 Award / grant 146,521——3,786,555
2026-10-13Johnson Gregory E
Director, Executive Chairman
 Award / grant 23,814$31.18$742,5212,700,800
2026-10-13Johnson Gregory E
Director, Executive Chairman
 Award / grant 22,259——2,723,059
2026-10-13Gamba Daniel
Co-President, Chief Commercial
 Award / grant 82,025$31.18$2.6M690,609
2026-10-13Oshita Lindsey Harumi
Chief Accounting Officer
 Award / grant 6,495$31.18$202,51432,624

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
AprMayJulAugOct

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired211,802,757$47.8M
Tax withholdingDisposed7289,820$9.9M
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

FiledFilerShares proposedEst. proceeds
2023-12-14Sethi Alok22,000$643,845
2023-12-05Sethi Alok25,000$634,466
2023-10-10Byerwalter Mariann H6,011$144,324
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 0 trades (0 purchases) · Senate 1 (1 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-03-27Alan ArmstrongSenatePurchase$1,001 - $15,0002026-07-20
2025-09-29Ro KhannaHouseSale$1,001 - $15,0002025-10-03
2025-09-03Thomas H. KeanHouseSale$15,001 - $50,0002025-10-15
2025-09-02Thomas KeanHouseSale (Full)$15,001 - $50,0002025-10-15
2025-04-28Thomas H. KeanHouseSale (Partial)$1,001 - $15,0002025-05-15
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.28,910,284$961.8M5.69%
Power Corp of Canada25,340,031$843.1M4.99%
VANGUARD CAPITAL MANAGEMENT LLC20,135,638$669.9M3.96%
STATE STREET CORP19,733,211$662.9M3.88%
VANGUARD PORTFOLIO MANAGEMENT LLC13,735,521$457.0M2.70%
Invesco Ltd.12,091,225$402.3M2.38%
DIMENSIONAL FUND ADVISORS LP10,224,825$340.2M2.01%
GEODE CAPITAL MANAGEMENT, LLC7,910,758$262.7M1.56%
GOLDMAN SACHS GROUP INC7,256,259$241.4M1.43%
Azora Capital LP6,908,621$229.8M1.36%
ProShare Advisors LLC6,022,325$200.4M1.19%
Artemis Investment Management LLP5,311,209$176.7M1.05%
MORGAN STANLEY4,752,116$158.1M0.94%
Bank of New York Mellon Corp4,585,216$152.6M0.90%
BARCLAYS PLC4,042,708$134.5M0.80%

Institutional ownership by quarter

2023-092026-0653.5%
% of shares held by 13F filers
2023-092026-06671
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-3067153.5%11623822453
2026-03-3161055.9%9321620248
2025-12-3157953.5%8721518689
2025-09-3059352.2%9320518760
2025-06-3056855.1%9318321784
2025-03-3156555.0%6923216967
2024-12-3156953.4%9319819870
2024-09-3055751.7%7723816597
2024-06-3058249.7%7725416682
2024-03-3159751.1%9322817655
2023-12-3156642.4%9419219556
2023-09-3053643.0%5717619449

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-08-13SCHEDULE 13G/APAFI, LLC5.0%25,340,031
2026-04-27SCHEDULE 13G/ABlackRock, Inc.4.9%25,257,802
2026-03-26SCHEDULE 13G/AThe Vanguard Group0.0%0
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VITSX0.01%$310.1M
VTI0.01%$310.1M
VSMPX0.01%$310.1M
VTSAX0.01%$310.1M
VOO0.01%$248.5M
VFFSX0.01%$248.5M

Share structure

Shares outstanding508,077,000
Float268,715,320
Free float52.9%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$8.4B$8.3B$7.8B$8.5B$8.8B
Cost of revenue$1.4B$1.4B$1.5B$1.7B$1.7B
Gross profit$7.0B$6.8B$6.3B$6.8B$7.0B
R&D$0$0$0$0$0
SG&A$4.2B$4.1B$4.1B$4.7B$4.9B
Operating income$1.9B$1.8B$1.1B$407.6M$604.1M
EBITDA$2.8B$2.2B$1.9B$1.4B$1.4B
Pretax income$2.4B$1.7B$1.3B$823.2M$786.8M
Income tax$349.6M$396.2M$312.3M$215.3M$237.9M
Net income$1.8B$1.3B$882.8M$464.8M$524.9M
EPS, diluted$3.57$2.53$1.72$0.85$0.91
Diluted shares490.6M489.3M490.8M510.3M515.4M

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$4.6B$4.8B$4.4B$4.4B$3.6B
Receivables$1.4B$1.3B$1.3B$1.5B$1.5B
Inventory$0$0$0$0$0
Total current assets$6.1B$6.0B$5.8B$5.9B$5.1B
PP&E, net$1.2B$1.2B$1.2B$1.8B$1.7B
Goodwill & intangibles$9.2B$10.9B$10.9B$11.0B$10.4B
Total assets$24.2B$28.1B$30.1B$32.5B$32.4B
Accounts payable$1.0B$1.1B$879.7M$1.4B$1.7B
Total current liabilities$1.7B$1.6B$1.4B$1.8B$1.9B
Long-term debt$7.1B$8.8B$11.3B$12.1B$12.3B
Total liabilities$11.4B$14.2B$16.5B$17.9B$18.2B
Shareholders' equity$12.7B$13.8B$13.6B$14.6B$14.2B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income$2.1B$1.3B$1.0B$607.9M$548.9M
Depreciation & amortization$310.6M$377.8M$445.4M$454.7M$531.8M
Stock-based compensation$171.9M$208.2M$182.6M$246.1M$214.8M
Change in working capital−$102.4M$71.2M$64.7M−$145.8M−$249.1M
Operating cash flow$1.2B$2.0B$1.1B$971.3M$1.1B
Capital expenditure−$79.3M−$90.3M−$148.8M−$177.1M−$154.5M
Free cash flow$1.2B$1.9B$940.4M$794.2M$911.6M
Investing cash flow−$2.6B−$3.3B−$3.6B−$2.4B−$2.3B
Net debt issued / repaid$2.1B$2.1B$2.1B$2.2B$829.1M
Buybacks−$208.2M−$180.8M−$256.3M−$274.4M−$240.3M
Dividends paid−$559.7M−$583.1M−$607.3M−$656.4M−$683.7M

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin83.2%82.8%80.9%80.1%80.3%
Operating margin22.3%21.4%14.0%4.8%6.9%
Net margin21.7%15.6%11.2%5.5%6.0%
FCF margin13.8%22.6%12.1%9.4%10.4%
ROE17.2%11.4%7.5%3.8%4.3%
ROIC11.3%8.5%4.4%1.4%1.9%
ROA8.0%4.9%3.0%1.5%1.6%
Debt / equity0.680.820.991.051.10
Interest coverage29.6x18.6x11.9x9.5x9.3x
Current ratio3.513.704.133.242.71
Revenue growth+53.5%−1.8%−5.1%+8.0%+3.5%
EPS growth+130.2%−29.2%−31.9%−50.0%+13.1%
P/E at year end6.5x6.9x12.2x21.1x22.7x
EV / EBITDA at year end5.2x6.1x9.5x13.4x15.3x
FCF yield at year end9.80%20.80%8.81%8.11%7.65%
Dividend payout30.6%45.1%68.8%141.2%130.3%

Revenue by segment

FY2021FY2022FY2023FY2024FY2025
Investment Advisory, Management and Administrative Service$6.5B$6.6B$6.5B$6.8B$7.0B
Sales And Distribution Fees$1.6B$1.4B$1.2B$1.4B$1.5B
Shareholder Service$211.2M$193.0M$152.7M$229.3M$264.5M
Service, Other$37.2M$50.5M$40.1M$45.5M$49.7M

Revenue by region · FY2025

UNITED STATES$6.6B · 75%
LUXEMBOURG$1.3B · 15%
Asia Pacific$327.8M · 4%
Europe, Middle East and Africa, Excluding Luxembourg$279.0M · 3%
Americas Excluding United States$254.0M · 3%

Street estimates by fiscal year

Next report 2026-11-06 · consensus EPS $0.77 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$7.2B$7.2B – $7.3B$2.90$2.86 – $2.96610.7x
2027$7.7B$7.5B – $7.9B$3.16$3.02 – $3.3479.8x
2028$8.3B$8.1B – $8.6B$3.58$3.34 – $3.8118.6x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-07-31$0.66$0.72+9.4%$1.8B$1.8B+3.3%
2026-04-28$0.55$0.71+29.1%$1.7B$1.8B+2.9%
2026-01-30$0.55$0.70+27.3%$1.7B$1.7B+2.1%
2025-11-07$0.58$0.67+16.1%$1.7B$2.3B+36.6%
2025-08-01$0.48$0.49+1.5%$2.4B$2.1B−13.4%
2025-05-02$0.47$0.47−0.8%$1.7B$2.1B+26.5%
2025-01-31$0.56$0.59+5.4%$2.4B$2.3B−6.4%
2024-11-04$0.60$0.59−2.0%$1.7B$2.2B+30.5%
2024-07-26$0.57$0.60+5.3%$1.7B$2.1B+26.2%
2024-04-29$0.57$0.56−2.3%$1.7B$2.1B+28.2%
2024-01-29$0.57$0.65+14.0%$1.5B$2.0B+31.5%
2023-10-31$0.60$0.84+40.0%$1.6B$2.0B+27.2%
2023-07-28$0.60$0.63+5.0%$1.5B$2.0B+31.2%
2023-05-01$0.57$0.61+7.0%$1.9B$1.9B+1.5%
2023-01-30$0.54$0.51−5.6%$1.5B$2.0B+33.9%
2022-11-01$0.69$0.78+13.0%$1.5B$1.9B+30.1%
2022-07-28$0.73$0.82+12.3%$1.5B$2.0B+31.3%
2022-05-03$0.79$0.96+21.5%$1.6B$2.1B+33.1%
2022-02-01$0.89$1.08+21.3%$1.6B$2.2B+36.2%
2021-11-01$0.86$1.26+46.5%$2.2B$2.2B+0.8%
2021-08-03$0.77$0.96+24.7%$2.1B$2.2B+2.6%
2021-05-04$0.74$0.79+6.8%$2.0B$2.1B+4.0%
2021-02-02$0.72$0.73+1.4%$1.9B$2.0B+2.6%
2020-10-27$0.69$0.56−18.8%$1.9B$1.7B−11.8%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
0.106-150.206-220.106-290.207-060.207-130.107-200.307-270.208-030.108-100.108-170.108-240.108-31
Week ofNotionalSharesTrades
2026-08-31$138.8M4,100,01178,021
2026-08-24$83.4M2,392,53852,105
2026-08-17$101.5M2,969,40367,631
2026-08-10$95.1M2,827,10368,381
2026-08-03$241.8M6,926,023105,123
2026-07-27$303.1M9,118,818126,477

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1540.4%
DateShort shareShort volumeTotal volume
2026-10-1540.4%533,7951,322,812
2026-10-1431.1%626,7532,016,413
2026-10-1351.9%750,3731,445,352
2026-10-1253.4%530,135991,888
2026-10-0933.9%485,5721,431,192
2026-10-0861.0%1,216,3161,993,517
2026-10-0757.8%890,5021,540,366
2026-10-0653.2%859,8941,616,604
2026-10-0561.2%750,3141,226,291
2026-10-0253.1%965,9301,818,773
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
-0.7Jan-1.1Feb+0.9Mar-0.1Apr+0.8May-0.5Jun+3.6Jul-1.6Aug-1.6Sep+1.1Oct+2.9Nov+1.1Dec
MonthAvg returnUp yearsYears
Jan−0.7%40%20
Feb−1.1%50%20
Mar+0.9%62%21
Apr−0.1%50%20
May+0.8%65%20
Jun−0.5%45%20
Jul+3.6%60%20
Aug−1.6%45%20
Sep−1.6%40%20
Oct+1.1%65%20
Nov+2.9%60%20
Dec+1.1%50%20
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1436.2
MFI34.2
ADX30.6
Stochastic %K / %D26.6 / 20.9
Williams %R-73.0
CCI-133
TSI / signal-23.6 / -17.1
Chaikin money flow0.02
ATR$0.85
Bollinger width8.4%
Volume vs 20-day avg0.69x
SupertrendDown

Moving averages and bands

level (price vs level)
SMA 20$32.18 (−3.7%)
SMA 50$33.19 (−6.7%)
SMA 200$29.87 (+3.7%)
EMA 21$32.13 (−3.6%)
EMA 50$32.66 (−5.1%)
EMA 200$30.24 (+2.4%)
Bollinger upper$33.54 (−7.6%)
Bollinger lower$30.82 (+0.5%)
Parabolic SAR$32.54 (−4.8%)
Open the live chart, 110+ indicators

About Franklin Resources, Inc.

Franklin Resources, Inc. is a publicly owned asset investment manager. Through its subsidiaries, the firm provides its services to individuals, institutions, pension plans, trusts, and partnerships. It launches equity, fixed income, balanced, and multi-asset mutual funds through its subsidiaries. The firm invests in the public equity, fixed income, and alternative markets. Franklin Resources, Inc. was founded in 1947 and is based in San Mateo, California with an additional office in Calgary, Alberta; Dubai, United Arab Emirates; Edinburgh, Midlothian; Fort Lauderdale, Florida; Hyderabad, India; London, Greater London; Rancho Cordova, California; Shanghai, Shanghai Province; Singapore; Stamford, Connecticut; and Vienna.

https://www.franklintempleton.com/corporate

Key executives

NameTitlePayBorn
Terrence James MurphyCo-President & Head of Public Market Investments$12.4M1968
Jennifer JohnsonCEO & Non-Independent Director$7.9M1964
Matthew NichollsCo-President, Chief Financial Officer & Chief Operating Officer$5.5M1973
Gregory Eugene JohnsonExecutive Chairman of the Board & Non-Independent Director$2.3M1961
Avinash Deepak SatwalekarPresident of India——
Bassel KhatounHead of Research & Director of Portfolio Management——
Daniel Ernesto GambaCo-President & Chief Commercial Officer—1968
Lindsey Harumi OshitaSenior Vice President & Chief Accounting Officer—1983

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
Jennifer M. Johnson Chief Executive Officer2025$750,000$9.0M$6.9M$16.8M
Terrence J. Murphy Co-President and Head of Public Market Investments2025$500,000$1.2M$11.9M$13.6M
Matthew Nicholls Co-President, Chief Financial Officer and Chief Operating Officer2025$600,000$4.3M$4.9M$9.8M
Adam B. Spector Former Executive Vice President2025$525,000$2.4M$2.4M$5.4M
Gregory E. Johnson Executive Chairman and Chairman of the Board2025$600,000$1.1M$1.3M$3.4M

Employees

10k201810k201912k202010k202110k20229k202310k202410k2025

Dividends

Ex-dateAmountPaid
2026-09-30$0.332026-10-09
2026-06-29$0.332026-07-10
2026-03-31$0.332026-04-10
2025-12-30$0.332026-01-09
2025-09-30$0.322025-10-10
2025-06-27$0.322025-07-11
2025-03-31$0.322025-04-11
2024-12-30$0.322025-01-10

Moat model

Weak · Switching Costs · 2026-06-30
Cost advantage39
Intangibles31
Switching costs61
Network effect57
Efficient scale39
Our component scores (0-100) and overall 45.2; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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