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BENFranklin Resources, Inc.
$34.36$17.9B
Overview & Verdict
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BEN logoFranklin Resources, Inc.(BEN)Earnings, Financials & Key Ratios

BEN•NYSE
$34.36
37.8× P/E·Price updated Jul 7, 2026
SectorFinancial ServicesIndustryAsset ManagementSub-IndustryTraditional active 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
  • EBITDA$1.14B+31.7%
  • Net Income$525M+12.9%
  • EPS (Diluted)0.91+7.1%
  • Gross Margin80.34%+0.3%
  • EBITDA Margin12.95%+27.3%
  • Operating Margin6.89%+43.3%
  • Net Margin5.98%+9.2%
  • ROE3.65%+10.5%

BEN Price & Volume

Franklin Resources, Inc. (BEN) stock price & volume — 10-year historical chart

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Persistent Integration Costs Obscure Earnings Quality

Investment Thesis • Updated 2026Q2

VerdictNegative: The firm's inability to convert accounting profits into liquidity
Growth:Mixed
Profitability:Strained
Financial:Strained
Cash Flow:Deteriorating
Primary Risk:Integration and reputational contagion

Key Thesis Takeaways

  • Franklin Resources faces a challenging outlook as its multi-boutique acquisition strategy struggles to translate into consistent operating leverage, with SG&A expenses remaining stubbornly elevated between $1.2 billion and $1.3 billion per quarter.
  • The firm's reliance on debt to fund growth has pushed the debt-to-equity ratio to 1.05, while a significant $10.4 billion goodwill balance creates substantial valuation risk.
  • Investors should monitor the firm's ability to improve cash conversion, as the recent disconnect between $346.6 million in net income and negative $27.6 million in operating cash flow in 2026Q2 raises concerns regarding earnings quality.

Verdict Logic

highlighted by a negative OCF/NI ratio in 2026Q2, combined with a high 23.75 EV/EBITDA multiple, suggests limited margin of safety for investors.

BEN Growth Metrics

Franklin Resources, Inc. (BEN) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years0.99%
5 Years9.52%
3 Years1.96%
TTM-

Profit CAGR

10 Years-12.67%
5 Years-8.06%
3 Years-25.93%
TTM100.84%

EPS CAGR

10 Years-12.06%
5 Years-10.56%
3 Years-28.88%
TTM94.2%

Return on Capital

10 Years8.31%
5 Years4.69%
3 Years2.45%
Last Year1.98%

BEN Recent Earnings

Franklin Resources, Inc. (BEN) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 9/12 qtrs (75%)●Beat Revenue 10/12 qtrs (83%)
Q2 2026Latest
Apr 28, 2026
Metric
Actual
Est
EPS
$0.71+29.1%
$0.55
Rev
$1.8B+2.9%
$1.7B
Q1 2026
Jan 30, 2026
Metric
Actual
Est
EPS
$0.70+27.3%
$0.55
Rev
$1.7B+2.1%
$1.7B
Q4 2025
Nov 7, 2025
Metric
Actual
Est
EPS
$0.67+16.1%
$0.58
Rev
$2.3B+36.6%
$1.7B
Q3 2025
Aug 1, 2025
Metric
Actual
Est
EPS
$0.49+1.5%
$0.48
Rev
$2.1B-13.4%
$2.4B
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestApr 28, 2026
$0.71vs $0.55+29.1%
$1.8Bvs $1.7B+2.9%
Q1 2026Jan 30, 2026
$0.70vs $0.55+27.3%
$1.7Bvs $1.7B+2.1%
Q4 2025Nov 7, 2025
$0.67vs $0.58+16.1%
$2.3Bvs $1.7B+36.6%
Q3 2025Aug 1, 2025
$0.49vs $0.48+1.5%
$2.1Bvs $2.4B-13.4%
Based on last 12 quarters of dataView full earnings history →

Latest BEN News

Recent stock market news and headlines for Franklin Resources, Inc. (BEN)

Seeking Alpha·4 days ago
Buy In July: 8 IDEAL 'Safer' S&P 500 DiviDogs

Eight S&P 500 'safer' dividend dogs, including VICI, VZ, T, F, BEN, KMI, KEY, and RF, offer attractive yields with free cash flow coverage. Analyst projections for the top ten S&P 500 dividend dogs indicate potential net gains of 21.99% to 50.26% by July 2027, with an average risk 54% below market. The dividend dog strategy favors stocks where annual dividends from $1K invested exceed single share prices, signaling fair value and income potential.

Zacks Investment Research·4 days ago
Top 5 Non-AI S&P 500 Stock Picks for 2H 2026 That Have Surged in 1H

ADM, CASY, DVA, CVS and BEN top a list of five non-AI S&P 500 stocks that surged more than 30% in 1H 2026 and still show momentum for 2H.

Business Wire·6 days ago
Franklin Resources, Inc. to Announce Third Quarter Results on July 31, 2026

SAN MATEO, Calif.--(BUSINESS WIRE)--On Friday, July 31st at approximately 8:30 a.m. Eastern Time, Franklin Resources, Inc. (the “Company”) [NYSE:BEN] will release its third quarter operating results. A written commentary on the results will also be available via investors.franklinresources.com at approximately 8:30 a.m. Eastern Time. In addition, Jenny Johnson, CEO; Matthew Nicholls, Co-President, CFO and COO; and Daniel Gamba, Co-President and Chief Commercial Officer, will lead a live telecon.

Zacks Investment Research·6 days ago
3 Finance Stocks That Stole the Spotlight With Strong Q2 Gains

HOOD, BEN and STT lead finance-sector gains in Q2 as retail trading, stronger AUM trends and supportive rates power investor optimism.

Zacks Investment Research·Jun 24, 2026
Franklin Resources' Arm Expands Crypto Capabilities With 250 Digital Buyout

BEN's arm expands its crypto push with the 250 Digital acquisition, strengthening its digital asset capabilities and launching Franklin Crypto.

Peers Comparison

Key metrics vs top competitors for Franklin Resources, Inc. (BEN)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
BEN logoBENFranklin Resources, Inc.Current
$34.36$17.85B37.763.45%5.98%3.65%3.86%
IVZ logoIVZInvesco Ltd.
$27.40$12.17B-17.135.11%-3.69%-1.74%—
TROW logoTROWT. Rowe Price Group, Inc.
$120.16$26.15B12.993.12%28.28%17.56%—
AMG logoAMGAffiliated Managers Group, Inc.
$359.72$9.5B15.8219.83%31.89%17.07%—
VRTS logoVRTSVirtus Investment Partners, Inc.
$155.15$1.04B7.77-8%14.61%11.15%—
DHIL logoDHILDiamond Hill Investment Group, Inc.
$174.99$473.29M9.774.48%30.89%27.03%—

Compare BEN vs Peers

Franklin Resources, Inc. (BEN) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs IVZ

Most directly comparable listed peer for BEN.

Scale Benchmark

vs MS

Larger-name benchmark to compare BEN against a more recognizable public peer.

Peer Set

Compare Top 5

vs IVZ, TROW, AMG, VRTS

BEN SEC Filings & Documents

Franklin Resources, Inc. (BEN) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Apr 28, 2026·SEC

Material company update

Feb 5, 2026·SEC

Material company update

Jan 30, 2026·SEC

10-K Annual Reports

1
FY 2025

Nov 10, 2025·SEC

10-Q Quarterly Reports

5
FY 2026

Apr 28, 2026·SEC

FY 2026

Jan 30, 2026·SEC

FY 2025

Aug 1, 2025·SEC

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BEN Frequently Asked Questions

Franklin Resources, Inc. (BEN) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Franklin Resources, Inc.'s revenue?

Franklin Resources, Inc. (BEN) reported $9.03B in revenue for fiscal year 2025.

How fast is Franklin Resources, Inc. growing?

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

Is BEN profitable?

Yes, Franklin Resources, Inc. (BEN) is profitable, generating $812.0M in net income for fiscal year 2025 (6.0% net margin).

Dividend & Returns
Does BEN pay dividends?

Yes, Franklin Resources, Inc. (BEN) pays a dividend with a yield of 3.86%. This makes it attractive for income-focused investors.

What is BEN's return on equity?

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

What is Franklin Resources, Inc.'s free cash flow?

Franklin Resources, Inc. (BEN) generated $938.0M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

What if you invested $1,000 in BEN back in 1996?

Total return calculator · dividends reinvested · 30+ years of data

See returns →