Franklin Resources, Inc. (BEN) 10-Year Financial Performance & Capital Metrics

BEN • • Banking & Credit

Financial ServicesAsset ManagementTraditional Asset ManagementGlobal Diversified Asset Managers

AboutFranklin Resources, Inc. is a publicly owned asset management holding company. 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 Hyderabad, India.Show more

Net Interest Income -$95M +2.4%
Total Revenue $8.77B +3.5%
Net Income $525M +12.9%
Return on Equity 3.65% +10.5%
Net Interest Margin -0.29% +2.1%
Efficiency Ratio 41.68% -44.6%
ROA 1.62% +9.0%
Equity / Assets 43.84% -2.3%
Book Value per Share 27.53 -3.5%
Tangible BV/Share 7.41 +6.4%
Debt/Equity 0.94 +4.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient operations: 41.7% efficiency ratio
✓Well capitalized: 43.8% equity/assets
✓Healthy dividend yield of 5.1%
✓Diversified revenue: 100.0% from non-interest income
✓Trading near 52-week high
✓Trading at only 0.9x book value

✗Weaknesses

✗Weak 3Y average ROE of 4.5%
✗Weak NIM of -0.3%
✗Dividend payout exceeds 100% of earnings

Price & Volume

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Growth Metrics

Revenue CAGR

10Y0.99%

5Y9.52%

3Y1.96%

TTM-

Profit (Net Income) CAGR

10Y-12.67%

5Y-8.06%

3Y-25.93%

TTM10.07%

EPS CAGR

10Y-12.06%

5Y-10.56%

3Y-28.88%

TTM5.62%

ROCE

10Y Avg8.31%

5Y Avg4.69%

3Y Avg2.45%

Latest1.98%

Peer Comparison

Global Diversified Asset Managers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
SIISprott Inc.	2.97B	115.19	60.31	19.02%	29.28%	14.59%	2.27%
EMBJEmbraer S.A.	13.36B	73.93	38.51	21.38%	5.51%	10.43%	3.03%	0.78
BENFranklin Resources, Inc.	13.54B	25.97	28.54	3.45%	5.98%	3.61%	6.73%	0.94
BLKBlackRock, Inc.	179.4B	1156.65	27.53	14.27%	31.21%	9.86%	2.62%	0.29
IVZInvesco Ltd.	13.08B	29.39	24.91	6.13%	12.77%	6.75%	8.57%	0.48
SEICSEI Investments Company	10.6B	86.54	19.62	10.7%	27.35%	28.87%	5.34%	0.01
JHGJanus Henderson Group plc	7.15B	47.89	18.71	17.67%	16.53%	9.41%	9.57%	0.10
STTState Street Corporation	38.07B	136.29	16.60	19.64%	12.23%	10.78%		1.45

Profit & Loss

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Net Interest Income+	-13.4M	23.4M	30.2M	8.6M	-33.4M	-85.4M	-98.2M	-123.7M	-97.2M	-94.9M
NII Growth %	0.53%	2.75%	0.29%	-0.72%	-4.88%	-1.56%	-0.15%	-0.26%	0.21%	0.02%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	36.5M	74.9M	76.5M	31M	0	0	0	0	0	0
Interest Expense	49.9M	51.5M	46.3M	22.4M	33.4M	85.4M	98.2M	123.7M	97.2M	94.9M
Loan Loss Provision	1.31B	1.28B	882.1M	938.2M	1.03B	1.34B	1.33B	1.38B	1.59B	4.42B
Non-Interest Income+	6.58B	6.32B	6.13B	5.64B	5.57B	8.43B	8.28B	7.85B	8.48B	8.77B
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	6.62B	6.39B	6.2B	5.67B	5.57B	8.43B	8.28B	7.85B	8.48B	8.77B
Revenue Growth %	-0.17%	-0.03%	-0.03%	-0.09%	-0.02%	0.51%	-0.02%	-0.05%	0.08%	0.03%
Non-Interest Expense	2.89B	2.79B	3.25B	3.24B	3.45B	5.12B	5.08B	5.25B	6.38B	3.66B
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	2.37B	2.26B	2.03B	1.47B	1.05B	1.88B	1.77B	1.1B	407.6M	604.1M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-0.22%	-0.04%	-0.1%	-0.28%	-0.28%	0.79%	-0.05%	-0.38%	-0.63%	0.48%
Pretax Income+	2.5B	2.55B	2.22B	1.65B	1.02B	2.44B	1.73B	1.34B	823.2M	786.8M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	742.1M	759.4M	1.47B	442.3M	230.8M	349.6M	396.2M	312.3M	215.3M	237.9M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	1.73B	1.7B	764.4M	1.2B	798.9M	1.83B	1.29B	882.8M	464.8M	524.9M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0.15%	-0.02%	-0.55%	0.56%	-0.33%	1.29%	-0.29%	-0.32%	-0.47%	0.13%
Net Income (Continuing)	1.76B	1.79B	742.7M	1.21B	787.1M	2.09B	1.33B	1.03B	607.9M	548.9M
EPS (Diluted)+	2.94	3.01	1.42	2.35	1.59	3.57	2.53	1.72	0.85	0.91
EPS Growth %	-0.11%	0.02%	-0.53%	0.65%	-0.32%	1.25%	-0.29%	-0.32%	-0.51%	0.07%
EPS (Basic)	2.94	3.01	1.42	2.35	1.59	3.58	2.53	1.72	0.85	1.02
Diluted Shares Outstanding	583.8M	559.1M	538M	504.3M	491.9M	490.6M	489.3M	490.8M	510.3M	515.4M

Balance Sheet

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	8.48B	8.75B	6.91B	5.96B	3.99B	4.65B	4.78B	4.4B	4.41B	3.57B
Short Term Investments	0	0	0	0	0	0	0	0	0	0
Total Investments+	3.93B	4.86B	3.54B	3.86B	5.38B	7.33B	9.55B	11.86B	13.37B	14.65B
Investments Growth %	-0.04%	0.24%	-0.27%	0.09%	0.39%	0.36%	0.3%	0.24%	0.13%	0.1%
Long-Term Investments	3.93B	4.86B	3.54B	3.86B	5.38B	7.33B	9.55B	11.86B	13.37B	14.65B
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	1.66B	1.69B	1.79B	2.13B	4.5B	4.46B	5.78B	6B	6.21B	6.21B
Intangible Assets	550.1M	540.5M	538.6M	864.2M	4.91B	4.71B	5.08B	4.9B	4.8B	4.17B
PP&E (Net)	523.2M	517.2M	535M	683.7M	1.35B	1.22B	1.21B	1.21B	1.77B	1.71B
Other Assets	156.7M	176.5M	220.7M	197.7M	319.5M	376.3M	395.4M	398.8M	420M	514.5M
Total Current Assets	9.28B	9.75B	7.76B	6.8B	5.22B	6.08B	6.05B	5.75B	5.89B	5.12B
Total Non-Current Assets	6.82B	7.78B	6.63B	7.74B	16.46B	18.09B	22.01B	24.37B	26.58B	27.25B
Total Assets+	16.1B	17.53B	14.38B	14.53B	21.68B	24.17B	28.06B	30.12B	32.46B	32.37B
Asset Growth %	-0.01%	0.09%	-0.18%	0.01%	0.49%	0.11%	0.16%	0.07%	0.08%	-0%
Return on Assets (ROA)	0.11%	0.1%	0.05%	0.08%	0.04%	0.08%	0.05%	0.03%	0.01%	0.02%
Accounts Payable	233.3M	291.5M	226.9M	304.4M	1.04B	1.04B	1.11B	879.7M	1.41B	1.68B
Total Debt+	2.08B	1.1B	728.5M	747.7M	6.44B	7.59B	9.36B	11.75B	13.09B	13.3B
Net Debt	-6.4B	-7.65B	-6.18B	-5.21B	2.45B	2.94B	4.58B	7.35B	8.68B	9.73B
Long-Term Debt	2.08B	1.1B	728.5M	747.7M	5.82B	7.07B	8.83B	11.28B	12.12B	12.3B
Short-Term Debt	0	0	0	0	0	0	0	0	0	0
Other Liabilities	926.7M	908.6M	887.6M	1.03B	1.79B	1.79B	2.89B	2.95B	2.71B	2.73B
Total Current Liabilities	337.9M	479.5M	1.39B	1.27B	1.74B	1.73B	1.64B	1.39B	1.82B	1.89B
Total Non-Current Liabilities	3.17B	2.18B	1.74B	1.89B	8.53B	9.69B	12.6B	15.15B	16.08B	16.29B
Total Liabilities	3.51B	2.66B	3.13B	3.16B	10.27B	11.42B	14.24B	16.55B	17.9B	18.18B
Total Equity+	12.59B	14.88B	11.25B	11.37B	11.41B	12.74B	13.82B	13.57B	14.56B	14.19B
Equity Growth %	0%	0.18%	-0.24%	0.01%	0%	0.12%	0.08%	-0.02%	0.07%	-0.03%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.14%	0.12%	0.06%	0.11%	0.07%	0.15%	0.1%	0.06%	0.03%	0.04%
Book Value per Share	21.56	26.61	20.91	22.55	23.20	25.98	28.25	27.66	28.54	27.53
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	57M	55.5M	51.9M	49.9M	49.5M	50.2M	50M	49.6M	52.4M	52.1M
Additional Paid-in Capital	0	0	0	0	0	0	0	0	947.6M	956.8M
Retained Earnings	12.23B	12.85B	10.22B	10.29B	10.47B	11.55B	12.05B	12.38B	11.93B	11.52B
Accumulated OCI	-347.4M	-284.8M	-370.6M	-431.6M	-407.6M	-377.6M	-621M	-509.3M	-419.5M	-447.1M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Cash from Operations+	1.73B	1.14B	2.23B	268.5M	1.08B	1.25B	1.96B	1.09B	971.3M	1.07B
Operating CF Growth %	-0.23%	-0.34%	0.96%	-0.88%	3.03%	0.15%	0.57%	-0.44%	-0.11%	0.1%
Net Income	1.76B	1.79B	742.7M	1.21B	787.1M	2.09B	1.33B	1.03B	607.9M	548.9M
Depreciation & Amortization	87.1M	80.3M	76.4M	93.4M	128.5M	310.6M	377.8M	445.4M	454.7M	531.8M
Deferred Taxes	9M	8.8M	-50.6M	-1.3M	-7.1M	3.7M	98M	41.5M	-124.6M	-47.2M
Other Non-Cash Items	42M	-981.2M	490.7M	-1.29B	-425.4M	-1.23B	-131.7M	-670.7M	-67M	66.9M
Working Capital Changes	-299.6M	114.4M	852.7M	148.5M	477.9M	-102.4M	71.2M	64.7M	-145.8M	-249.1M
Cash from Investing+	192.2M	52M	-290.4M	-1.28B	-4.06B	-2.62B	-3.33B	-3.61B	-2.42B	-2.34B
Purchase of Investments	-712.7M	-522.9M	-456.6M	-980M	-2.01B	-4.81B	-4.92B	-5.17B	-7.54B	-7.79B
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	0	-14M	-86.8M	-493.5M	-3.82B	-9M	-1.35B	-500.5M	175.1M	0
Other Investing	0	-49.2M	0	0	-40.6M	63M	19.9M	-232M	-534.9M	-90.5M
Cash from Financing+	-1.8B	-956M	-3.76B	339.9M	734.4M	2.03B	1.58B	2.11B	1.42B	452.4M
Dividends Paid	-408.7M	-441.2M	-2.12B	-518.6M	-533.2M	-559.7M	-583.1M	-607.3M	-656.4M	-683.7M
Share Repurchases	-1.31B	-765.3M	-1.42B	-754.5M	-218.2M	-208.2M	-180.8M	-256.3M	-274.4M	-240.3M
Stock Issued	24.1M	24.9M	24.8M	23.3M	20.6M	22.3M	25.1M	198.1M	26.1M	24.1M
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	-1000K	-1000K	-1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Financing	-14.3M	867.2M	138.1M	1.13B	408.9M	709.6M	185.2M	637.3M	136.5M	523.2M
Net Change in Cash+	115.2M	266.4M	-1.84B	-704M	-2.22B	657.4M	135.3M	-380.1M	6.5M	-835M
Exchange Rate Effect	-1000K	1000K	-1000K	-1000K	1000K	-1000K	-1000K	1000K	1000K	-1000K
Cash at Beginning	8.37B	8.48B	8.75B	6.91B	6.21B	3.99B	4.65B	4.78B	4.4B	4.41B
Cash at End	8.48B	8.75B	6.91B	6.21B	3.99B	4.65B	4.78B	4.4B	4.41B	3.57B
Interest Paid	75.7M	53.5M	41.2M	29.7M	84.5M	219.4M	281.5M	501.1M	807.6M	859.8M
Income Taxes Paid	758.6M	712.2M	523.5M	520.8M	359.4M	498M	467.5M	233.2M	435.7M	465.4M
Free Cash Flow+	1.63B	1.06B	2.12B	34.8M	979.6M	1.17B	1.87B	940.4M	794.2M	911.6M
FCF Growth %	-0.25%	-0.35%	1%	-0.98%	27.15%	0.19%	0.6%	-0.5%	-0.16%	0.15%

Banking Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	13.73%	12.35%	5.85%	10.57%	7.01%	15.16%	9.73%	6.44%	3.3%	3.65%
Return on Assets (ROA)	10.65%	10.09%	4.79%	8.27%	4.41%	7.99%	4.95%	3.03%	1.49%	1.62%
Net Interest Margin	-0.08%	0.13%	0.21%	0.06%	-0.15%	-0.35%	-0.35%	-0.41%	-0.3%	-0.29%
Efficiency Ratio	43.69%	43.71%	52.35%	57.18%	62.07%	60.79%	61.33%	66.85%	75.3%	41.68%
Equity / Assets	78.2%	84.85%	78.23%	78.25%	52.62%	52.73%	49.27%	45.06%	44.86%	43.84%
Book Value / Share	21.56	26.61	20.91	22.55	23.2	25.98	28.25	27.66	28.54	27.53
NII Growth	53.47%	274.63%	29.06%	-71.52%	-488.37%	-155.69%	-14.99%	-25.97%	21.42%	2.37%
Dividend Payout	23.67%	26%	276.94%	43.37%	66.74%	30.56%	45.14%	68.79%	141.22%	130.25%

Revenue by Segment

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Investment Advisory, Management and Administrative Service	-	-	-	3.99B	3.98B	6.54B	6.62B	6.45B	6.82B	6.98B
Investment Advisory, Management and Administrative Service Growth	-	-	-	-	-0.09%	64.29%	1.15%	-2.48%	5.72%	2.34%
Sales And Distribution Fees	-	-	-	1.44B	1.36B	1.64B	1.42B	1.2B	1.38B	1.47B
Sales And Distribution Fees Growth	-	-	-	-	-5.72%	20.08%	-13.48%	-14.93%	14.73%	6.78%
Shareholder Service	-	-	-	216.3M	195.1M	211.2M	193M	152.7M	229.3M	264.5M
Shareholder Service Growth	-	-	-	-	-9.80%	8.25%	-8.62%	-20.88%	50.16%	15.35%
Service, Other	-	-	-	105.1M	27.7M	37.2M	50.5M	40.1M	45.5M	49.7M
Service, Other Growth	-	-	-	-	-73.64%	34.30%	35.75%	-20.59%	13.47%	9.23%

Revenue by Geography

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
UNITED STATES	4.06B	3.9B	3.72B	3.49B	3.59B	5.98B	6.13B	5.88B	6.36B	6.61B
UNITED STATES Growth	-	-4.07%	-4.52%	-6.30%	3.07%	66.32%	2.46%	-4.01%	8.11%	4.03%
LUXEMBOURG	1.71B	1.65B	1.73B	1.53B	1.3B	1.51B	1.28B	1.13B	1.24B	1.3B
LUXEMBOURG Growth	-	-3.23%	4.71%	-11.38%	-15.05%	15.73%	-15.12%	-11.54%	9.30%	4.70%
Asia Pacific	267.9M	281M	297.4M	257M	240.2M	387.9M	297.2M	308.8M	308.9M	327.8M
Asia Pacific Growth	-	4.89%	5.84%	-13.58%	-6.54%	61.49%	-23.38%	3.90%	0.03%	6.12%
Europe, Middle East and Africa, Excluding Luxembourg	-	-	-	96.4M	107.2M	212.4M	234.8M	270.5M	305.8M	279M
Europe, Middle East and Africa, Excluding Luxembourg Growth	-	-	-	-	11.20%	98.13%	10.55%	15.20%	13.05%	-8.76%
Americas Excluding United States	-	-	-	392.3M	321.4M	338.3M	337.2M	257.1M	268M	254M
Americas Excluding United States Growth	-	-	-	-	-18.07%	5.26%	-0.33%	-23.75%	4.24%	-5.22%
CANADA	273.8M	260.8M	250.3M	-	-	-	-	-	-	-
CANADA Growth	-	-4.75%	-4.03%	-	-	-	-	-	-	-
Europe, the Middle East and Africa, excluding Luxembourg	94M	83.2M	97M	-	-	-	-	-	-	-
Europe, the Middle East and Africa, excluding Luxembourg Growth	-	-11.49%	16.59%	-	-	-	-	-	-	-
Latin America	6.2M	10.1M	13.6M	-	-	-	-	-	-	-
Latin America Growth	-	62.90%	34.65%	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Franklin Resources, Inc. (BEN) has a price-to-earnings (P/E) ratio of 28.5x. This suggests investors expect higher future growth.

Growth & Financials

Franklin Resources, Inc. (BEN) grew revenue by 3.5% over the past year. Growth has been modest.

Yes, Franklin Resources, Inc. (BEN) is profitable, generating $511.6M in net income for fiscal year 2025 (6.0% net margin).

Dividend & Returns

Yes, Franklin Resources, Inc. (BEN) pays a dividend with a yield of 5.11%. This makes it attractive for income-focused investors.

Franklin Resources, Inc. (BEN) has a return on equity (ROE) of 3.7%. This is below average, suggesting room for improvement.

Industry Metrics

Franklin Resources, Inc. (BEN) has a net interest margin (NIM) of -0.3%. NIM has been under pressure due to interest rate environment.

Franklin Resources, Inc. (BEN) has an efficiency ratio of 41.7%. This is excellent, indicating strong cost control.

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