Franklin Resources, Inc. (BEN) Financial Ratios
30 years of historical data (1996–2025) · Financial Services · Asset Management
EV/EBITDA
↑
23.68
↑+73% vs avg
5yr avg: 13.73
30Y Low4.8·High22.0
P/FCF
↑
18.84
↑+65% vs avg
5yr avg: 11.40
30Y Low5.6·High39.0
P/B Ratio
↓
1.20
↑+38% vs avg
5yr avg: 0.87
30Y Low0.7·High6.4
ROE
↓
3.7%
↑-52% vs avg
5yr avg: 7.7%
30Y Low3%·High27%
Debt/EBITDA
↑
11.71
↑+38% vs avg
5yr avg: 8.46
30Y Low0.0·High15.2
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
BEN Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Franklin Resources, Inc. trades at 36.3x earnings, 126% above its 5-year average of 16.0x, sitting at the 100th percentile of its historical range. Compared to the Financial Services sector median P/E of 13.6x, the stock trades at a premium of 167%. On a free-cash-flow basis, the stock trades at 18.8x P/FCF, 65% above the 5-year average of 11.4x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $17.2B | $11.9B | $10.3B | $12.1B | $10.5B | $14.6B | $10.0B | $14.6B | $16.4B | $24.9B | $20.8B |
| Enterprise Value | $26.9B | $21.6B | $19.0B | $19.4B | $15.1B | $17.5B | $12.5B | $9.3B | $10.2B | $17.2B | $14.4B |
| P/E Ratio → | 36.32 | 25.42 | 23.71 | 14.29 | 8.51 | 8.32 | 12.80 | 12.28 | 21.42 | 14.79 | 12.10 |
| P/S Ratio | 1.96 | 1.36 | 1.21 | 1.54 | 1.27 | 1.73 | 1.80 | 2.57 | 2.64 | 3.89 | 3.14 |
| P/B Ratio | 1.20 | 0.84 | 0.71 | 0.89 | 0.76 | 1.14 | 0.88 | 1.28 | 1.45 | 1.67 | 1.65 |
| P/FCF | 18.84 | 13.08 | 12.95 | 12.83 | 5.64 | 12.50 | 10.22 | 418.22 | 7.71 | 23.47 | 12.74 |
| P/OCF | 16.11 | 11.18 | 10.59 | 11.08 | 5.38 | 11.71 | 9.24 | 54.21 | 7.34 | 21.92 | 12.02 |
P/E links to full P/E history page with 30-year chart
BEN EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Franklin Resources, Inc.'s enterprise value stands at 23.7x EBITDA, 73% above its 5-year average of 13.7x. The Financial Services sector median is 11.4x, placing the stock at a 108% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.47 | 2.24 | 2.47 | 1.83 | 2.08 | 2.24 | 1.65 | 1.64 | 2.70 | 2.17 |
| EV / EBITDA | 23.68 | 19.06 | 21.99 | 12.54 | 7.02 | 8.02 | 10.58 | 5.99 | 4.84 | 7.35 | 5.86 |
| EV / EBIT | 44.53 | 24.55 | 20.60 | 13.28 | 8.27 | 6.93 | 11.85 | 5.59 | 4.50 | 6.63 | 5.63 |
| EV / FCF | — | 23.75 | 23.87 | 20.64 | 8.10 | 15.03 | 12.72 | 268.51 | 4.79 | 16.25 | 8.81 |
BEN Profitability
Margins and return-on-capital ratios measuring operating efficiency
Franklin Resources, Inc. earns an operating margin of 6.9%, below the Financial Services sector average of 20.3%. Operating margins have compressed from 14.0% to 6.9% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 3.7% is modest, trailing the sector median of 9.0%. ROIC of 1.6% represents below-average returns on invested capital versus a sector median of 5.5%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 80.3% | 80.3% | 80.1% | 80.9% | 82.8% | 83.0% | 80.9% | 83.1% | 85.0% | 79.1% | 79.4% |
| Operating Margin | 6.9% | 6.9% | 4.8% | 14.0% | 21.4% | 22.3% | 18.8% | 25.9% | 32.7% | 35.4% | 35.7% |
| Net Profit Margin | 6.0% | 6.0% | 5.5% | 11.2% | 15.6% | 21.7% | 14.4% | 21.1% | 12.3% | 26.5% | 26.1% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 3.7% | 3.7% | 3.3% | 6.4% | 9.7% | 15.2% | 7.0% | 10.6% | 5.9% | 12.4% | 13.7% |
| ROA | 1.6% | 1.6% | 1.5% | 3.0% | 4.9% | 8.0% | 4.4% | 8.3% | 4.8% | 10.1% | 10.6% |
| ROIC | 1.6% | 1.6% | 1.2% | 3.4% | 6.1% | 7.4% | 5.3% | 9.1% | 10.9% | 11.1% | 12.1% |
| ROCE | 2.0% | 2.0% | 1.4% | 4.0% | 7.3% | 8.8% | 6.3% | 11.2% | 13.5% | 13.8% | 14.9% |
BEN Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Franklin Resources, Inc. carries a Debt/EBITDA ratio of 11.7x, which is highly leveraged (175% above the sector average of 4.3x). Net debt stands at $9.7B ($13.3B total debt minus $3.6B cash). Interest coverage of 9.3x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.94 | 0.94 | 0.90 | 0.87 | 0.68 | 0.60 | 0.56 | 0.07 | 0.06 | 0.07 | 0.17 |
| Debt / EBITDA | 11.71 | 11.71 | 15.18 | 7.59 | 4.35 | 3.47 | 5.47 | 0.48 | 0.35 | 0.47 | 0.85 |
| Net Debt / Equity | — | 0.69 | 0.60 | 0.54 | 0.33 | 0.23 | 0.21 | -0.46 | -0.55 | -0.51 | -0.51 |
| Net Debt / EBITDA | 8.56 | 8.56 | 10.06 | 4.75 | 2.13 | 1.35 | 2.08 | -3.34 | -2.94 | -3.26 | -2.61 |
| Debt / FCF | — | 10.67 | 10.93 | 7.82 | 2.45 | 2.52 | 2.50 | -149.71 | -2.91 | -7.22 | -3.93 |
| Interest Coverage | 9.29 | 9.29 | 9.47 | 11.82 | 18.61 | — | 31.48 | 74.56 | 48.84 | 50.50 | 51.10 |
BEN Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Franklin Resources, Inc.'s current ratio of 2.71x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has declined from 4.13x to 2.71x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.71 | 2.71 | 3.24 | 4.13 | 3.70 | 3.51 | 3.00 | 5.37 | 5.58 | 20.34 | 27.46 |
| Quick Ratio | 2.71 | 2.71 | 3.24 | 4.13 | 3.70 | 3.51 | 3.00 | 5.37 | 5.58 | 20.34 | 27.46 |
| Cash Ratio | 1.90 | 1.90 | 2.42 | 3.16 | 2.92 | 2.68 | 2.29 | 4.70 | 4.97 | 18.25 | 25.11 |
| Asset Turnover | — | 0.27 | 0.26 | 0.26 | 0.29 | 0.35 | 0.26 | 0.39 | 0.43 | 0.36 | 0.41 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
BEN Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Franklin Resources, Inc. returns 5.4% to shareholders annually — split between a 4.0% dividend yield and 1.4% buyback yield. The payout ratio exceeds 100% at 130.3%, meaning the company is paying out more than it earns — this level is unsustainable long-term without earnings recovery. The earnings yield of 2.8% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 4.0% | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | 130.3% | 130.3% | 141.2% | 68.8% | 45.1% | 30.6% | 66.7% | 43.4% | 276.9% | 26.0% | 23.7% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.8% | 3.9% | 4.2% | 7.0% | 11.8% | 12.0% | 7.8% | 8.1% | 4.7% | 6.8% | 8.3% |
| FCF Yield | 5.3% | 7.6% | 7.7% | 7.8% | 17.7% | 8.0% | 9.8% | 0.2% | 13.0% | 4.3% | 7.8% |
| Buyback Yield | 1.4% | — | — | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 5.4% | — | — | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $515M | $510M | $491M | $489M | $491M | $492M | $504M | $538M | $559M | $584M |
Peer Comparison
Compare BEN with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 BENYou | $17B | 36.3 | 23.7 | 18.8 | 80.3% | 6.9% | 3.7% | 1.6% | 11.7 |
 IVZ | $13B | -17.6 | 16.8 | 8.7 | 43.2% | -10.9% | -2.0% | -2.3% | 8.2 |
 TROW | $23B | 11.6 | 8.0 | 15.8 | 62.7% | 29.9% | 17.8% | 13.3% | 0.3 |
 AMG | $9B | 15.5 | 12.2 | 9.4 | 86.0% | 31.8% | 15.8% | 8.1% | 2.8 |
 VRTS | $948M | 7.1 | 16.2 | — | 74.9% | 17.4% | 13.5% | 3.0% | 13.9 |
 DHIL | $473M | 9.8 | 110.4 | — | 96.0% | 38.4% | 28.8% | 1.3% | 103.4 |
 BLK | $174B | 29.6 | 23.0 | 46.3 | 55.5% | 29.1% | 10.0% | 7.5% | 1.9 |
 STT | $49B | 17.9 | -12.3 | 11.3 | 61.4% | 16.5% | 11.1% | 4.7% | 7.0 |
 APAM | $3B | 8.9 | 6.6 | 14.8 | 45.7% | 33.4% | 37.9% | 26.7% | 1.0 |
 MORN | $6B | 17.3 | 9.5 | 13.2 | 61.0% | 21.5% | 26.3% | 15.3% | 2.0 |
 SCHW | $161B | 19.7 | 9.7 | 18.3 | 80.3% | 49.4% | 18.1% | 11.8% | 2.1 |
| Financial Services Median | — | 13.6 | 11.4 | 11.1 | 64.1% | 20.3% | 9.0% | 5.5% | 4.3 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Includes 30+ ratios · 30 years · Updated daily
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BEN — Frequently Asked Questions
Quick answers to the most common questions about buying BEN stock.
What is Franklin Resources, Inc.'s P/E ratio?
Franklin Resources, Inc.'s current P/E ratio is 36.3x. The historical average is 17.1x. This places it at the 100th percentile of its historical range.
What is Franklin Resources, Inc.'s EV/EBITDA?
Franklin Resources, Inc.'s current EV/EBITDA is 23.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.7x.
What is Franklin Resources, Inc.'s ROE?
Franklin Resources, Inc.'s return on equity (ROE) is 3.7%. The historical average is 15.7%.
Is BEN stock overvalued?
Based on historical data, Franklin Resources, Inc. is trading at a P/E of 36.3x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Franklin Resources, Inc.'s dividend yield?
Franklin Resources, Inc.'s current dividend yield is 4.01% with a payout ratio of 130.3%.
What are Franklin Resources, Inc.'s profit margins?
Franklin Resources, Inc. has 80.3% gross margin and 6.9% operating margin.
How much debt does Franklin Resources, Inc. have?
Franklin Resources, Inc.'s Debt/EBITDA ratio is 11.7x, indicating high leverage. A ratio above 4x may signal elevated financial risk.