Franklin Resources, Inc.

BEN · NYSE · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987	FY1986	FY1985
Valuation
Market cap	$12,009	$10,538	$12,265	$10,725	$14,913	$10,212	$14,482	$15,260	$22,335	$17,849	$18,697	$34,120	$32,003	$26,907	$21,140	$24,168	$23,169	$20,836	$32,505	$26,971	$21,045	$13,877	$11,230	$8,109	$8,528	$10,953	$7,719	$7,552	$11,750	$5,473	$4,781	$3,129	$4,076	$2,262	$1,410	$1,094	$1,019	$572	$569	$550	$227
Enterprise value	$22,664	$19,951	$20,246	$16,129	$18,442	$13,415	$9,741	$9,386	$14,999	$12,041	$13,139	$29,302	$28,588	$24,192	$16,384	$21,108	$18,671	$16,937	$28,619	$23,510	$18,619	$11,815	$9,430	$6,178	$7,125	$9,914	$6,890	$7,117	$11,705	$5,171	$4,757	$3,207	$4,070	$1,800	$982	$1,093	$1,026	$575	$573	$557	$227
P/E (TTM) at period end	25.46×	24.38×	14.51×	8.66×	8.50×	13.03×	12.22×	20.43×	13.26×	10.40×	9.24×	14.40×	14.98×	14.02×	11.04×	16.81×	26.02×	13.20×	18.33×	21.28×	19.90×	19.64×	22.33×	18.74×	17.59×	19.49×	18.09×	15.09×	27.07×	17.39×	17.78×	12.45×	23.22×	18.23×	14.36×	12.24×	12.97×	8.63×	9.67×	17.14×	16.79×
P/S (TTM) at period end	1.37×	1.24×	1.56×	1.30×	1.77×	1.83×	2.51×	2.41×	3.49×	2.70×	2.35×	4.02×	4.01×	3.79×	2.96×	4.13×	5.52×	3.45×	5.24×	5.34×	4.88×	4.04×	4.27×	3.21×	3.62×	4.68×	3.41×	2.93×	5.43×	3.60×	3.80×	3.85×	6.36×	5.88×	4.43×	3.80×	4.02×	2.82×	2.75×	3.85×	3.58×
P/B at period end	0.99×	0.84×	1.03×	0.93×	1.33×	1.01×	1.46×	1.54×	1.77×	1.50×	1.58×	2.95×	3.18×	2.92×	2.48×	3.13×	3.04×	2.95×	4.43×	4.03×	3.70×	2.72×	2.61×	1.90×	2.14×	3.69×	2.91×	3.31×	6.34×	3.91×	4.12×	3.36×	5.66×	4.84×	3.88×	3.79×	4.71×	3.80×	5.44×	10.54×	10.12×
EV / EBITDA (TTM)	31.07×	38.07×	16.78×	8.63×	9.44×	11.94×	6.28×	4.45×	6.40×	4.91×	4.20×	8.84×	9.48×	9.31×	5.96×	9.48×	13.49×	7.85×	12.63×	12.72×	12.41×	10.60×	11.42×	8.04×	9.68×	11.49×	9.32×	8.54×	16.36×	10.73×	11.63×	7.95×	13.17×	4.13×	5.79×	7.19×	–	–	–	–	–
EV / Sales (TTM)	2.58×	2.35×	2.58×	1.95×	2.19×	2.41×	1.69×	1.49×	2.35×	1.82×	1.65×	3.45×	3.58×	3.41×	2.29×	3.61×	4.45×	2.81×	4.61×	4.65×	4.32×	3.44×	3.58×	2.45×	3.03×	4.24×	3.05×	2.76×	5.41×	3.40×	3.78×	3.95×	6.35×	4.68×	3.08×	3.80×	4.05×	2.84×	2.77×	3.89×	3.59×
Returns
Return on equity	3.9%	3.5%	7.1%	10.8%	15.6%	7.7%	12.0%	7.5%	13.3%	14.4%	17.1%	20.5%	21.2%	20.9%	22.5%	18.6%	11.7%	22.3%	24.2%	19.0%	18.6%	13.8%	11.7%	10.1%	12.2%	19.0%	16.1%	21.9%	23.4%	22.5%	23.2%	27.0%	24.4%	26.6%	27.1%	31.0%	36.3%	44.1%	56.3%	61.5%	60.3%
Return on invested capital	1.9%	1.4%	4.2%	8.1%	10.9%	6.1%	21.1%	16.9%	30.1%	27.1%	33.5%	33.7%	31.5%	27.7%	29.8%	29.1%	17.9%	30.0%	32.3%	26.6%	23.2%	17.6%	10.6%	11.3%	9.8%	19.5%	17.9%	20.3%	20.6%	22.2%	18.7%	21.4%	19.7%	42.0%	28.9%	33.6%	99.5%	117.1%	143.7%	180.4%	227.1%
Dividend yield	5.7%	6.2%	5.0%	5.4%	3.8%	5.2%	3.6%	13.9%	2.0%	2.3%	3.6%	0.9%	2.8%	2.5%	1.0%	3.7%	0.8%	0.9%	0.4%	0.4%	2.8%	0.6%	0.7%	0.9%	0.7%	0.5%	0.7%	0.7%	0.3%	0.6%	0.7%	0.8%	0.5%	0.9%	1.2%	0.2%	–	–	–	–	–
Financial health
Current ratio	–	–	–	–	–	–	–	–	–	–	–	–	–	–	5.81×	6.32×	7.23×	5.18×	3.80×	3.27×	5.42×	4.39×	7.96×	2.55×	2.00×	2.68×	2.57×	2.24×	1.71×	2.27×	1.61×	1.44×	2.02×	–	15.49×	14.41×	–	–	–	–	–
Debt / equity	0.20×	0.22×	0.26×	0.29×	0.30×	0.30×	0.07×	0.07×	0.08×	0.12×	0.11×	0.19×	0.12×	0.17×	0.12×	0.12×	0.01×	0.02×	0.08×	0.13×	0.25×	0.27×	0.26×	0.14×	0.14×	0.12×	0.15×	0.27×	0.33×	0.29×	0.40×	0.50×	0.70×	0.33×	0.02×	0.01×	0.03×	0.02×	0.03×	0.13×	0.02×
Effective tax rate	30.2%	26.2%	23.3%	22.9%	14.3%	22.7%	26.8%	66.5%	29.8%	29.7%	30.5%	29.3%	28.3%	28.5%	30.6%	29.9%	29.8%	29.0%	28.1%	30.9%	25.6%	29.4%	28.2%	25.2%	24.0%	24.0%	25.7%	26.0%	29.5%	31.0%	30.4%	30.7%	36.0%	39.4%	39.6%	38.1%	39.4%	39.3%	48.1%	51.6%	48.5%
Share count
Diluted shares outstanding	517	510	491	489	491	492	504	538	559	584	615	625	634	643	666	682	694	715	756	782	782	771	766	786	761	740	758	758	762	751	756	754	752	702	701	706	694	710	707	688	675

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987	FY1986	FY1985
Revenue and gross profit
Revenue	$9,324	$8,771	$8,478	$7,849	$8,275	$8,426	$5,566	$5,774	$6,319	$6,392	$6,618	$7,949	$8,491	$7,985	$7,101	$7,140	$5,853	$4,194	$6,032	$6,206	$5,051	$4,310	$3,438	$2,632	$2,523	$2,355	$2,340	$2,262	$2,577	$2,163	$1,519	$1,258	$813	$641	$385	$318	$288	$253	$203	$207	$143	$63
Cost of revenue	($3,018)	($1,724)	($1,687)	($1,500)	($1,426)	($1,429)	($1,063)	($961)	($928)	($1,334)	($1,361)	($1,453)	($1,468)	($1,384)	($1,256)	($1,231)	($2,283)	($1,352)	($1,937)	($2,161)	–	–	–	–	–	–	–	–	–	–	($520)	($384)	–	($7)	–	($37)	($33)	–	–	–	–	–
Gross profit	$6,306	$7,047	$6,791	$6,350	$6,849	$6,997	$4,504	$4,709	$5,276	$5,058	$5,257	$6,495	$7,024	$6,600	$5,846	$5,909	$3,570	$2,842	$4,095	$4,045	–	–	–	–	–	–	–	–	–	–	$1,002	$874	–	$633	–	$282	$255	–	–	–	–	–
Operating expenses
Research and development	–	–	–	–	–	–	–	–	–	–	–	–	–	–	($183)	($173)	–	–	–	($318)	($302)	($287)	($274)	($285)	($294)	($263)	($214)	($212)	($182)	($135)	–	–	–	–	–	–	–	–	–	–	–	–
Selling, general and administrative	($919)	($774)	($703)	($565)	($565)	($537)	($450)	($391)	($372)	($322)	($340)	($348)	($360)	($312)	($278)	($232)	($235)	($206)	($1,626)	($1,588)	($156)	($137)	($112)	($92)	($107)	($106)	($101)	($106)	($126)	($97)	($72)	($199)	($428)	($330)	($121)	($103)	($94)	–	–	–	–	–
Total operating expenses	($5,401)	($6,443)	($6,384)	($5,248)	($5,075)	($5,122)	($3,455)	($3,242)	($3,248)	($2,794)	($2,891)	($3,468)	($3,802)	($3,679)	($3,330)	($3,249)	($1,611)	($1,639)	($1,996)	($1,978)	–	–	–	–	–	–	–	–	–	–	($585)	($506)	–	($349)	–	($108)	($98)	–	–	–	–	–
Total costs and expenses	($8,419)	($8,167)	($8,070)	($6,747)	($6,501)	($6,550)	($4,518)	($4,308)	($4,291)	($4,128)	($4,252)	($4,921)	($5,270)	($5,064)	($4,586)	($4,480)	($3,894)	($2,991)	($3,933)	($4,138)	($3,417)	($3,022)	($2,507)	($1,984)	($1,937)	($1,843)	($1,677)	($1,723)	($1,935)	($1,572)	($1,102)	($890)	($446)	($356)	$47	($144)	($131)	$112	$93	$93	$76	$37
Operating income	$906	$604	$408	$1,102	$1,774	$1,875	$1,049	$1,467	$2,028	$2,264	$2,366	$3,028	$3,221	$2,921	$2,515	$2,660	$1,959	$1,203	$2,099	$2,068	$1,633	$1,288	$931	$648	$586	$512	$663	$539	$642	$591	$417	$368	$367	$285	$432	$174	$156	$365	$296	$299	$220	$100
Earnings
EBITDA	$1,027	$729	$524	$1,207	$1,870	$1,954	$1,123	$1,550	$2,107	$2,345	$2,453	$3,125	$3,316	$3,015	$2,597	$2,748	$2,226	$1,384	$2,157	$2,266	$1,849	$1,501	$1,114	$825	$769	$736	$863	$739	$833	$715	$482	$409	$403	$309	$436	$170	$152	–	–	–	–	–
Interest income	$446	$321	$545	$378	$73	$9	$14	$31	$76	$75	$36	$11	$9	$8	$12	$11	$13	$32	$100	$133	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Interest expense	($89)	($95)	($97)	($124)	($98)	($85)	($33)	($22)	($46)	($52)	($50)	($40)	($47)	($47)	($37)	($37)	($16)	($4)	($16)	($23)	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Pre-tax income	$1,523	$787	$823	$1,338	$1,729	$2,444	$1,018	$1,648	$2,215	$2,549	$2,500	$3,028	$3,410	$3,027	$2,678	$2,624	$2,070	$1,289	$2,237	$2,465	$1,836	$1,421	$994	$700	$578	$638	$740	$574	$676	$616	$456	$387	$363	$274	$205	$163	$144	$130	$109	$113	$66	$26
Income tax expense	($386)	($238)	($215)	($312)	($396)	($350)	($231)	($442)	($1,472)	($759)	($742)	($924)	($998)	($856)	($763)	($803)	($618)	($384)	($648)	($692)	($568)	($363)	($292)	($197)	($146)	($153)	($178)	($147)	($176)	($182)	($142)	($118)	($111)	($99)	($81)	($64)	($55)	($51)	($43)	($54)	($34)	($13)
Net income	$813	$525	$465	$883	$1,292	$1,831	$799	$1,196	$764	$1,697	$1,727	$2,035	$2,384	$2,150	$1,931	$1,924	$1,446	$897	$1,588	$1,773	$1,268	$1,058	$707	$503	$433	$485	$562	$427	$500	$434	$315	$269	$251	$176	$124	$98	$89	$79	$66	$59	$32	$14
Per share
Diluted EPS (GAAP)	$1.47	$0.91	$0.85	$1.72	$2.53	$3.57	$1.59	$2.35	$1.39	$3.01	$2.94	$3.29	$3.79	$3.37	$2.98	$2.87	$2.11	$1.28	$2.21	$2.34	$1.62	$1.35	$0.92	$0.66	$0.55	$0.64	$0.76	$0.56	$0.66	$0.57	$0.42	$0.36	$0.33	$0.23	$0.18	$0.14	$0.13	$0.11	$0.0933	$0.0833	$0.0467	$0.02
Basic EPS (GAAP)	$1.47	$0.91	$0.85	$1.72	$2.53	$3.58	$1.59	$2.35	$1.39	$3.01	$2.94	$3.29	$3.79	$3.37	$2.99	$2.89	$2.12	$1.29	$2.23	$2.37	$1.66	$1.41	$0.95	$0.66	$0.55	$0.64	$0.76	$0.56	$0.66	$0.57	$0.42	$0.36	$0.33	$0.24	$0.18	$0.14	$0.13	$0.11	$0.0933	$0.0833	$0.0467	$0.02
Basic shares outstanding	516	517	510	490	489	490	492	504	537	559	584	615	625	633	641	663	678	691	709	748	765	752	746	762	782	757	740	757	758	757	743	747	754	745	702	701	706	694	710	707	688	675
Margins
Gross margin	67.6%	80.3%	80.1%	80.9%	82.8%	83.0%	80.9%	81.5%	83.5%	79.1%	79.4%	81.7%	82.7%	82.7%	82.3%	82.8%	61.0%	67.8%	67.9%	65.2%	–	–	–	–	–	–	–	–	–	–	66.0%	69.5%	–	98.9%	–	88.5%	88.5%	–	–	–	–	–
Operating margin	9.7%	6.9%	4.8%	14.0%	21.4%	22.3%	18.8%	25.4%	32.1%	35.4%	35.7%	38.1%	37.9%	36.6%	35.4%	37.3%	33.5%	28.7%	34.8%	33.3%	32.3%	29.9%	27.1%	24.6%	23.2%	21.7%	28.4%	23.8%	24.9%	27.3%	27.5%	29.3%	45.1%	44.5%	112.2%	54.7%	54.4%	144.3%	145.9%	144.8%	153.4%	158.8%
Net margin	8.7%	6.0%	5.5%	11.2%	15.6%	21.7%	14.4%	20.7%	12.1%	26.5%	26.1%	25.6%	28.1%	26.9%	27.2%	26.9%	24.7%	21.4%	26.3%	28.6%	25.1%	24.5%	20.6%	19.1%	17.2%	20.6%	24.0%	18.9%	19.4%	20.1%	20.7%	21.4%	30.9%	27.4%	32.2%	30.8%	31.1%	31.0%	32.7%	28.5%	22.4%	21.3%

Analyst consensus

Hold27 analysts

Bearish · 5 · Hold · 16 · Bullish · 6

Earnings history

	EPS	Estimate
Q4 2024	$0.59	$0.60	Miss
Q1 2025	$0.59	$0.56	Beat
Q2 2025	$0.47	$0.47	Match
Q3 2025	$0.49	$0.48	Beat
Q4 2025	$0.67	$0.58	Beat
Q1 2026	$0.70	$0.55	Beat
Q2 2026	$0.71	$0.55	Beat
Q3 2026	$0.72	$0.66	Beat

Peers

Company overview

IPO dateSep 23, 1983

CEOJennifer Johnson

Employees10,100

SectorFinancial Services

IndustryAsset Management

CountryUS

ExchangeNew York Stock Exchange

Websitewww.franklintempleton.com/corporate

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.

Athenic provides research and information tools for educational purposes only and is not a registered investment adviser or broker-dealer. Nothing on this page is investment advice or a recommendation to buy or sell any security. Market data may be delayed. Past performance is not indicative of future results. Investing involves risk, including the possible loss of principal.