NYSE : BEN
Franklin Resources, Inc. — Financial statements
Financials · Asset Management · United States
Last price 32.34 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 16.43B
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Financial statements
Franklin Resources, Inc. (BEN) reported revenue of 9.32B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year October - September; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 9.27B | 8.72B | 8.43B | 7.81B | 8.22B | 8.39B |
| Other Revenue | 57.00M | 49.70M | 45.50M | 40.10M | 50.50M | 37.20M |
| Revenue | 9.32B | 8.77B | 8.48B | 7.85B | 8.28B | 8.43B |
| Cost of Revenue | 5.81B | 5.49B | 5.26B | 4.71B | 4.76B | 4.86B |
| Gross Profit | 3.52B | 3.28B | 3.22B | 3.14B | 3.52B | 3.56B |
| Selling, General & Admin | 1.84B | 1.70B | 1.65B | 1.30B | 1.28B | 1.24B |
| Amortization of Goodwill & Intangibles | 225.60M | 406.50M | 338.20M | 341.10M | 282.00M | 232.00M |
| Operating Expenses | 2.06B | 2.11B | 1.99B | 1.64B | 1.57B | 1.47B |
| Operating Income | 1.45B | 1.17B | 1.23B | 1.50B | 1.95B | 2.10B |
| Interest Expense | -89.00M | -94.90M | -97.20M | -123.70M | -98.20M | -85.40M |
| Interest & Investment Income | 549.00M | 249.80M | 326.80M | 275.70M | 37.90M | 438.70M |
| Earnings From Equity Investments | 98.10M | 78.00M | 137.50M | 45.40M | 36.20M | 154.30M |
| Currency Exchange Gain (Loss) | -4.00M | -11.60M | -19.90M | -26.70M | 40.60M | -11.90M |
| Other Non Operating Income (Expenses) | 56.70M | 42.60M | 43.40M | 44.20M | 51.80M | 13.80M |
| EBT Excluding Unusual Items | 2.06B | 1.43B | 1.62B | 1.72B | 2.02B | 2.60B |
| Merger & Restructuring Charges | -311.40M | -338.80M | -436.90M | -397.80M | -179.60M | -216.10M |
| Gain (Loss) on Sale of Investments | 6.40M | -81.20M | 25.00M | 20.80M | -112.80M | 59.70M |
| Asset Writedown | -235.20M | -226.60M | -389.20M | |||
| Other Unusual Items | -4.10M | |||||
| Pretax Income | 1.52B | 786.80M | 823.20M | 1.34B | 1.73B | 2.44B |
| Income Tax Expense | 385.50M | 237.90M | 215.30M | 312.30M | 396.20M | 349.60M |
| Earnings From Continuing Operations | 1.14B | 548.90M | 607.90M | 1.03B | 1.33B | 2.09B |
| Minority Interest in Earnings | -324.40M | -24.00M | -143.10M | -142.90M | -41.30M | -263.40M |
| Net Income | 812.80M | 524.90M | 464.80M | 882.80M | 1.29B | 1.83B |
| Preferred Dividends & Other Adjustments | 53.60M | 53.20M | 32.60M | 37.70M | 54.10M | 77.70M |
| Net Income to Common | 759.20M | 471.70M | 432.20M | 845.10M | 1.24B | 1.75B |
| Shares Outstanding (Basic) | 516.17M | 516.70M | 509.50M | 490.00M | 488.70M | 489.90M |
| Shares Outstanding (Diluted) | 516.88M | 517.40M | 510.30M | 490.80M | 489.30M | 490.60M |
| EPS (Basic) | 1.47 | 0.91 | 0.85 | 1.72 | 2.53 | 3.58 |
| EPS (Diluted) | 1.47 | 0.91 | 0.85 | 1.72 | 2.53 | 3.57 |
| Free Cash Flow | 231.60M | 911.60M | 794.20M | 940.40M | 1.87B | 1.17B |
| Free Cash Flow Per Share | 0.45 | 1.76 | 1.56 | 1.92 | 3.81 | 2.38 |
| Dividend Per Share | 1.31 | 1.28 | 1.24 | 1.20 | 1.16 | 1.12 |
| Gross Margin | 37.71% | 37.40% | 37.99% | 40.00% | 42.53% | 42.31% |
| Operating Margin | 15.57% | 13.33% | 14.55% | 19.11% | 23.61% | 24.87% |
| Profit Margin | 8.14% | 5.38% | 5.10% | 10.77% | 14.96% | 20.81% |
| Free Cash Flow Margin | 2.48% | 10.39% | 9.37% | 11.98% | 22.55% | 13.84% |
| EBITDA | 1.80B | 1.70B | 1.69B | 1.95B | 2.33B | 2.41B |
| EBITDA Margin | 19.30% | 19.40% | 19.91% | 24.79% | 28.17% | 28.55% |
| D&A For EBITDA | 347.00M | 531.80M | 454.70M | 445.40M | 377.80M | 310.60M |
| EBIT | 1.45B | 1.17B | 1.23B | 1.50B | 1.95B | 2.10B |
| EBIT Margin | 15.57% | 13.33% | 14.55% | 19.11% | 23.61% | 24.87% |
| Effective Tax Rate | 25.32% | 30.24% | 26.15% | 23.34% | 22.91% | 14.30% |
| Revenue as Reported | 9.32B | 8.77B | 8.48B | 7.85B | 8.28B | 8.43B |
Balance sheet
Fiscal year October - September; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 2.67B | 3.09B | 3.31B | 3.69B | 4.13B | 4.36B |
| Cash & Short-Term Investments | 2.67B | 3.09B | 3.31B | 3.69B | 4.13B | 4.36B |
| Receivables | 1.57B | 1.54B | 1.48B | 1.35B | 1.26B | 1.43B |
| Other Current Assets | 16.63B | 12.76B | 12.13B | 10.35B | 8.55B | 6.11B |
| Total Current Assets | 20.86B | 17.39B | 16.92B | 15.39B | 13.95B | 11.90B |
| Property, Plant & Equipment | 1.64B | 1.71B | 1.77B | 1.21B | 1.21B | 1.22B |
| Long-Term Investments | 2.71B | 2.37B | 2.34B | 2.22B | 1.65B | 1.51B |
| Goodwill | 6.30B | 6.21B | 6.21B | 6.00B | 5.78B | 4.46B |
| Other Intangible Assets | 4.02B | 4.17B | 4.80B | 4.90B | 5.08B | 4.71B |
| Long-Term Deferred Tax Assets | 83.30M | 76.10M | 131.90M | 102.80M | 131.90M | |
| Other Long-Term Assets | 718.60M | 431.20M | 343.90M | 266.90M | 292.60M | 244.40M |
| Total Assets | 36.24B | 32.37B | 32.46B | 30.12B | 28.06B | 24.17B |
| Accounts Payable | 632.70M | 615.40M | 551.50M | 530.00M | 466.20M | 479.30M |
| Accrued Expenses | 1.73B | 1.76B | 1.80B | 1.67B | 1.46B | 1.18B |
| Short-Term Debt | 195.60M | |||||
| Current Portion of Long-Term Debt | 456.10M | 400.00M | 254.70M | |||
| Current Portion of Leases | 143.10M | |||||
| Current Income Taxes Payable | 207.50M | 406.40M | 513.50M | 523.10M | 693.60M | |
| Other Current Liabilities | 1.24B | 1.06B | 861.30M | 349.70M | 646.90M | 558.00M |
| Total Current Liabilities | 3.80B | 4.25B | 4.02B | 3.31B | 3.10B | 2.91B |
| Long-Term Debt | 2.40B | 1.91B | 2.38B | 2.80B | 3.38B | 3.40B |
| Long-Term Leases | 974.60M | 857.50M | 965.10M | 467.80M | 528.40M | 518.40M |
| Long-Term Deferred Tax Liabilities | 341.10M | 261.60M | 284.90M | 450.40M | 347.80M | 311.70M |
| Other Long-Term Liabilities | 14.32B | 10.91B | 10.25B | 9.52B | 6.88B | 4.29B |
| Total Liabilities | 21.84B | 18.18B | 17.90B | 16.55B | 14.24B | 11.42B |
| Common Stock | 50.80M | 52.10M | 52.40M | 49.60M | 50.00M | 50.20M |
| Additional Paid-In Capital | 660.50M | 956.80M | 947.60M | |||
| Retained Earnings | 11.52B | 11.52B | 11.93B | 12.38B | 12.05B | 11.55B |
| Comprehensive Income & Other | -493.70M | -447.10M | -419.50M | -509.30M | -621.00M | -377.60M |
| Total Common Equity | 11.74B | 12.08B | 12.51B | 11.92B | 11.47B | 11.22B |
| Minority Interest | 2.66B | 2.11B | 2.06B | 1.66B | 2.35B | 1.52B |
| Shareholders' Equity | 14.40B | 14.19B | 14.56B | 13.57B | 13.82B | 12.74B |
| Total Liabilities & Equity | 36.24B | 32.37B | 32.46B | 30.12B | 28.06B | 24.17B |
| Total Debt | 3.57B | 3.36B | 3.75B | 3.52B | 3.90B | 3.92B |
| Net Cash (Debt) | -901.80M | -274.50M | -435.90M | 165.80M | 230.10M | 440.00M |
| Net Cash Per Share | -1.74 | -0.53 | -0.85 | 0.34 | 0.47 | 0.90 |
| Filing Date Shares Outstanding | 508.08M | 520.97M | 523.67M | 494.58M | 499.56M | 501.80M |
| Total Common Shares Outstanding | 507.51M | 520.95M | 523.60M | 495.94M | 499.58M | 501.81M |
| Working Capital | 17.06B | 13.15B | 12.90B | 12.07B | 10.84B | 8.99B |
| Book Value Per Share | 23.13 | 23.18 | 23.89 | 24.03 | 22.97 | 22.37 |
| Tangible Book Value | 1.42B | 1.71B | 1.49B | 1.01B | 613.90M | 2.06B |
| Tangible Book Value Per Share | 2.80 | 3.27 | 2.85 | 2.04 | 1.23 | 4.10 |
| Land | 80.00M | 79.30M | 78.70M | 78.70M | 82.50M | |
| Buildings | 1.10B | 1.06B | 932.90M | 894.30M | 868.20M | |
| Machinery | 297.60M | 337.90M | 366.70M | 314.00M | 390.60M |
Cash flow statement
Fiscal year October - September; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 812.80M | 524.90M | 464.80M | 882.80M | 1.29B | 1.83B |
| Depreciation & Amortization | 347.00M | 531.80M | 454.70M | 445.40M | 377.80M | 310.60M |
| Other Amortization | 95.20M | 79.80M | 62.00M | 50.00M | 64.80M | 78.20M |
| Asset Writedown & Restructuring Costs | 235.20M | 226.60M | 389.20M | |||
| Loss (Gain) From Sale of Investments | -218.50M | 33.50M | -32.70M | 80.90M | 170.50M | -391.90M |
| Loss (Gain) on Equity Investments | -98.10M | -78.00M | -137.50M | -45.40M | -36.20M | -154.30M |
| Stock-Based Compensation | 195.80M | 214.80M | 246.10M | 182.60M | 208.20M | 171.90M |
| Other Operating Activities | -452.00M | -218.20M | -329.50M | -571.80M | -191.50M | -497.90M |
| Change in Accounts Receivable | -462.90M | -128.70M | -111.80M | -63.20M | -86.70M | -182.50M |
| Change in Accounts Payable | -101.20M | 75.00M | -36.50M | -2.70M | 60.00M | -35.00M |
| Change in Income Taxes | -181.50M | -181.50M | -93.40M | -1.10M | -180.10M | -12.50M |
| Change in Other Net Operating Assets | 106.00M | -13.90M | 95.90M | 131.70M | 278.00M | 127.60M |
| Operating Cash Flow | 277.80M | 1.07B | 971.30M | 1.09B | 1.96B | 1.25B |
| Capital Expenditures | -46.20M | -154.50M | -177.10M | -148.80M | -90.30M | -79.30M |
| Cash Acquisitions | -281.40M | -216.40M | 68.50M | -550.30M | -1.35B | -392.70M |
| Divestitures | 38.80M | |||||
| Investment in Securities | -3.45B | -1.88B | -1.78B | -2.68B | -1.94B | -2.21B |
| Other Investing Activities | -90.50M | -534.90M | -232.00M | 19.90M | 20.30M | |
| Investing Cash Flow | -3.78B | -2.34B | -2.42B | -3.61B | -3.33B | -2.62B |
| Short-Term Debt Issued | 144.70M | 5.30M | 174.80M | |||
| Long-Term Debt Issued | 6.33B | 4.35B | 3.54B | 5.18B | 4.13B | |
| Total Debt Issued | 8.36B | 6.47B | 4.35B | 3.71B | 5.18B | 4.13B |
| Short-Term Debt Repaid | -61.80M | -81.10M | ||||
| Long-Term Debt Repaid | -5.50B | -2.16B | -1.41B | -3.05B | -2.07B | |
| Total Debt Repaid | -4.89B | -5.56B | -2.24B | -1.41B | -3.05B | -2.07B |
| Net Debt Issued (Repaid) | 3.47B | 912.00M | 2.11B | 2.31B | 2.14B | 2.07B |
| Issuance of Common Stock | 26.90M | 24.10M | 20.80M | 23.30M | 25.10M | 22.30M |
| Repurchase of Common Stock | -511.90M | -240.30M | -274.40M | -256.30M | -180.80M | -208.20M |
| Common Dividends Paid | -693.90M | -683.70M | -656.40M | -607.30M | -583.10M | -559.70M |
| Other Financing Activities | 1.05B | 440.30M | 217.60M | 637.30M | 185.20M | 709.60M |
| Financing Cash Flow | 3.34B | 452.40M | 1.42B | 2.11B | 1.58B | 2.03B |
| Foreign Exchange Rate Adjustments | -37.50M | -10.80M | 43.30M | 34.30M | -77.20M | -2.20M |
| Net Cash Flow | -196.10M | -835.00M | 6.50M | -380.10M | 135.30M | 657.40M |
| Free Cash Flow | 231.60M | 911.60M | 794.20M | 940.40M | 1.87B | 1.17B |
| Free Cash Flow Margin | 2.48% | 10.39% | 9.37% | 11.98% | 22.55% | 13.84% |
| Free Cash Flow Per Share | 0.45 | 1.76 | 1.56 | 1.92 | 3.81 | 2.38 |
| Levered Free Cash Flow | -2.99B | 688.12M | -39.79M | -510.75M | -348.84M | 337.12M |
| Unlevered Free Cash Flow | -2.94B | 747.44M | 20.96M | -433.44M | -287.46M | 390.50M |
| Cash Interest Paid | 803.70M | 859.80M | 807.60M | 501.10M | 281.50M | 219.40M |
| Cash Income Tax Paid | 484.30M | 465.40M | 435.70M | 233.20M | 467.50M | 498.00M |
| Change in Working Capital | -639.60M | -249.10M | -145.80M | 64.70M | 71.20M | -102.40M |
Ratios
Fiscal year October - September; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 16.08B | 12.01B | 10.54B | 12.26B | 10.72B | 14.94B |
| Enterprise Value | 16.98B | 14.82B | 13.20B | 14.03B | 13.09B | 16.73B |
| Last Close Price | 31.64 | 22.04 | 18.08 | 20.97 | 17.52 | 23.17 |
| PE Ratio | 21.51 | 25.46 | 24.38 | 14.51 | 8.66 | 8.52 |
| Forward PE | 10.29 | 9.55 | 7.92 | 9.71 | 7.57 | 8.49 |
| PS Ratio | 1.72 | 1.37 | 1.24 | 1.56 | 1.30 | 1.77 |
| PB Ratio | 1.37 | 0.85 | 0.72 | 0.90 | 0.78 | 1.17 |
| P/TBV Ratio | 11.30 | 7.04 | 7.05 | 12.13 | 17.47 | 7.27 |
| P/FCF Ratio | 69.41 | 13.17 | 13.27 | 13.04 | 5.75 | 12.82 |
| P/OCF Ratio | 57.87 | 11.26 | 10.85 | 11.26 | 5.48 | 12.00 |
| PEG Ratio | 0.59 | 2.36 | 2.48 | 14.67 | 14.67 | 0.80 |
| EV/Sales Ratio | 1.82 | 1.69 | 1.56 | 1.79 | 1.58 | 1.99 |
| EV/EBITDA Ratio | 9.44 | 8.71 | 7.82 | 7.21 | 5.62 | 6.95 |
| EV/EBIT Ratio | 11.69 | 12.67 | 10.70 | 9.35 | 6.70 | 7.98 |
| EV/FCF Ratio | 73.30 | 16.26 | 16.62 | 14.92 | 7.01 | 14.34 |
| Debt / Equity Ratio | 0.25 | 0.24 | 0.26 | 0.26 | 0.28 | 0.31 |
| Debt / EBITDA Ratio | 1.72 | 1.70 | 1.87 | 1.64 | 1.55 | 1.51 |
| Debt / FCF Ratio | 15.42 | 3.69 | 4.72 | 3.74 | 2.09 | 3.36 |
| Net Debt / Equity Ratio | 0.06 | 0.02 | 0.03 | -0.01 | -0.02 | -0.04 |
| Net Debt / EBITDA Ratio | 0.50 | 0.16 | 0.26 | -0.09 | -0.10 | -0.18 |
| Net Debt / FCF Ratio | 3.89 | 0.30 | 0.55 | -0.18 | -0.12 | -0.38 |
| Asset Turnover | 0.27 | 0.27 | 0.27 | 0.27 | 0.32 | 0.37 |
| Quick Ratio | 1.11 | 1.09 | 1.19 | 1.52 | 1.74 | 1.99 |
| Current Ratio | 5.49 | 4.10 | 4.21 | 4.64 | 4.50 | 4.09 |
| Return on Equity (ROE) | 7.89% | 3.82% | 4.32% | 7.49% | 10.04% | 17.34% |
| Return on Assets (ROA) | 2.64% | 2.25% | 2.46% | 3.22% | 4.67% | 5.71% |
| Return on Invested Capital (ROIC) | 7.05% | 5.54% | 6.41% | 8.52% | 11.63% | 14.76% |
| Return on Capital Employed (ROCE) | 4.50% | 4.20% | 4.30% | 5.60% | 7.80% | 9.90% |
| Earnings Yield | 4.65% | 4.37% | 4.41% | 7.20% | 12.05% | 12.25% |
| FCF Yield | 1.44% | 7.59% | 7.54% | 7.67% | 17.40% | 7.80% |
| Dividend Yield | 4.17% | 5.55% | 6.16% | 4.85% | 5.40% | 3.76% |
| Payout Ratio | 89.76% | 130.25% | 141.22% | 68.79% | 45.13% | 30.56% |
| Buyback Yield / Dilution | 0.21% | -1.39% | -3.97% | -0.31% | 0.27% | 0.37% |
| Total Shareholder Return | 4.38% | 4.16% | 2.19% | 4.54% | 5.67% | 4.13% |