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Franklin Resources

BEN Clue Score45
United States Fiscal year ends September CIK 0000038777
$32.00 -1.23% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $32.00 +6.88% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2017Revenue6.39Operating income2.26Net income1.70EPS, diluted3.01Fiscal year 2018Revenue6.20 −2.9%Operating income2.03Net income0.76 −54.9%EPS, diluted1.39 −53.8%Fiscal year 2019Revenue5.67 −8.6%Operating income1.47Net income1.20 +56.4%EPS, diluted2.35 +69.1%Fiscal year 2020Revenue5.57 −1.8%Operating income1.05Net income0.80 −33.2%EPS, diluted1.59 −32.3%Fiscal year 2021Revenue8.43 +51.4%Operating income1.88Net income1.83 +129.2%EPS, diluted3.57 +124.5%Fiscal year 2022Revenue8.28 −1.8%Operating income1.77Net income1.29 −29.5%EPS, diluted2.53 −29.1%Fiscal year 2023Revenue7.85 −5.1%Operating income1.10Net income0.88 −31.7%EPS, diluted1.72 −32.0%Fiscal year 2024Revenue8.48 +8.0%Operating income0.41Net income0.46 −47.3%EPS, diluted0.85 −50.6%Fiscal year 2025Revenue8.77 +3.5%Operating income0.60Net income0.52 +12.9%EPS, diluted0.91 +7.1%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 6.39 6.20 5.67 5.57 8.43 8.28 7.85 8.48 8.77
Growth −2.9% −8.6% −1.8% +51.4% −1.8% −5.1% +8.0% +3.5%
Operating income 2.26 2.03 1.47 1.05 1.88 1.77 1.10 0.41 0.60
Net income 1.70 0.76 1.20 0.80 1.83 1.29 0.88 0.46 0.52
Growth −54.9% +56.4% −33.2% +129.2% −29.5% −31.7% −47.3% +12.9%
EPS, diluted 3.01 1.39 2.35 1.59 3.57 2.53 1.72 0.85 0.91
Growth −53.8% +69.1% −32.3% +124.5% −29.1% −32.0% −50.6% +7.1%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2017Operating margin35.4%Net margin26.5%Free cash flow margin16.6%Fiscal year 2018Operating margin32.7%Net margin12.3%Free cash flow margin34.2%Fiscal year 2019Operating margin25.9%Net margin21.1%Free cash flow margin0.6%Fiscal year 2020Operating margin18.8%Net margin14.4%Free cash flow margin17.6%Fiscal year 2021Operating margin22.3%Net margin21.7%Free cash flow margin13.8%Fiscal year 2022Operating margin21.4%Net margin15.6%Free cash flow margin22.6%Fiscal year 2023Operating margin14.0%Net margin11.2%Free cash flow margin12.0%Fiscal year 2024Operating margin4.8%Net margin5.5%Free cash flow margin9.4%Fiscal year 2025Operating margin6.9%Net margin6.0%Free cash flow margin10.4%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 35.4% 32.7% 25.9% 18.8% 22.3% 21.4% 14.0% 4.8% 6.9%
Net margin 26.5% 12.3% 21.1% 14.4% 21.7% 15.6% 11.2% 5.5% 6.0%
Free cash flow margin 16.6% 34.2% 0.6% 17.6% 13.8% 22.6% 12.0% 9.4% 10.4%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2017Operating cash flow1.14Capital expenditure−0.07Free cash flow1.06Buybacks−0.77Dividends paid−0.44Fiscal year 2018Operating cash flow2.23Capital expenditure−0.11Free cash flow2.12 +100.2%Buybacks−1.42Dividends paid−2.12Fiscal year 2019Operating cash flow0.27Capital expenditure−0.23Free cash flow0.03 −98.4%Buybacks−0.75Dividends paid−0.52Fiscal year 2020Operating cash flow1.08Capital expenditure−0.10Free cash flow0.98 +2,714.9%Buybacks−0.22Dividends paid−0.53Fiscal year 2021Operating cash flow1.25Capital expenditure−0.08Free cash flow1.17 +19.0%Buybacks−0.21Dividends paid−0.56Fiscal year 2022Operating cash flow1.96Capital expenditure−0.09Free cash flow1.87 +60.1%Buybacks−0.18Dividends paid−0.58Fiscal year 2023Operating cash flow1.09Capital expenditure−0.15Free cash flow0.94 −49.6%Buybacks−0.26Dividends paid−0.61Fiscal year 2024Operating cash flow0.97Capital expenditure−0.18Free cash flow0.79 −15.5%Buybacks−0.27Dividends paid−0.66Fiscal year 2025Operating cash flow1.07Capital expenditure−0.15Free cash flow0.91 +14.8%Buybacks−0.24Dividends paid−0.68
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 1.14 2.23 0.27 1.08 1.25 1.96 1.09 0.97 1.07
Capital expenditure −0.07 −0.11 −0.23 −0.10 −0.08 −0.09 −0.15 −0.18 −0.15
Free cash flow 1.06 2.12 0.03 0.98 1.17 1.87 0.94 0.79 0.91
Growth +100.2% −98.4% +2,714.9% +19.0% +60.1% −49.6% −15.5% +14.8%
Buybacks −0.77 −1.42 −0.75 −0.22 −0.21 −0.18 −0.26 −0.27 −0.24
Dividends paid −0.44 −2.12 −0.52 −0.53 −0.56 −0.58 −0.61 −0.66 −0.68

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2017Cash8.75Total debt1.04Net cash (debt)7.71Shareholders’ equity12.62Debt to equity0.08Fiscal year 2018Cash6.91Total debt0.70Net cash (debt)6.21Shareholders’ equity9.90Debt to equity0.07Fiscal year 2019Cash6.21Total debt0.70Net cash (debt)5.51Shareholders’ equity9.91Debt to equity0.07Fiscal year 2020Cash3.99Total debt3.02Net cash (debt)0.97Shareholders’ equity10.11Debt to equity0.30Fiscal year 2021Cash4.65Total debt3.40Net cash (debt)1.25Shareholders’ equity11.22Debt to equity0.30Fiscal year 2022Cash4.78Total debt3.38Net cash (debt)1.41Shareholders’ equity11.47Debt to equity0.29Fiscal year 2023Cash4.40Total debt3.05Net cash (debt)1.35Shareholders’ equity11.92Debt to equity0.26Fiscal year 2024Cash4.41Total debt2.78Net cash (debt)1.63Shareholders’ equity12.51Debt to equity0.22Fiscal year 2025Cash3.57Total debt2.36Net cash (debt)1.21Shareholders’ equity12.08Debt to equity0.20
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 8.75 6.91 6.21 3.99 4.65 4.78 4.40 4.41 3.57
Total debt 1.04 0.70 0.70 3.02 3.40 3.38 3.05 2.78 2.36
Net cash (debt) 7.71 6.21 5.51 0.97 1.25 1.41 1.35 1.63 1.21
Shareholders’ equity 12.62 9.90 9.91 10.11 11.22 11.47 11.92 12.51 12.08
Debt to equity 0.08 0.07 0.07 0.30 0.30 0.29 0.26 0.22 0.20

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In billions of USD, except per-share figures; shares in millions. Fiscal years ending September, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2017 30 Sep 2017 FY2018 30 Sep 2018 FY2019 30 Sep 2019 FY2020 30 Sep 2020 FY2021 30 Sep 2021 FY2022 30 Sep 2022 FY2023 30 Sep 2023 FY2024 30 Sep 2024 FY2025 30 Sep 2025
Revenue and profit
6.39 6.20 5.67 5.57 8.43 8.28 7.85 8.48 8.77
Growth −2.9% −8.6% −1.8% +51.4% −1.8% −5.1% +8.0% +3.5%
0.32 0.37 0.39 0.45 0.54 0.56 0.57 0.70 0.77
2.26 2.03 1.47 1.05 1.88 1.77 1.10 0.41 0.60
Growth −10.4% −27.7% −28.5% +78.8% −5.4% −37.9% −63.0% +48.2%
2.55 2.22 1.65 1.02 2.44 1.73 1.34 0.82 0.79
0.76 1.47 0.44 0.23 0.35 0.40 0.31 0.22 0.24
1.70 0.76 1.20 0.80 1.83 1.29 0.88 0.46 0.52
Growth −54.9% +56.4% −33.2% +129.2% −29.5% −31.7% −47.3% +12.9%
Per share
3.01 1.39 2.35 1.59 3.58 2.53 1.72 0.85 0.91
3.01 1.39 2.35 1.59 3.57 2.53 1.72 0.85 0.91
Growth −53.8% +69.1% −32.3% +124.5% −29.1% −32.0% −50.6% +7.1%
558.8 537.4 503.6 491.9 489.9 488.7 490.0 509.5 516.7
559.1 538.0 504.3 492.4 490.6 489.3 490.8 510.3 517.4
Growth −3.8% −6.3% −2.4% −0.4% −0.3% +0.3% +4.0% +1.4%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 9.5% a year over five years, and earnings per share fell 10.6% a year.
  • The diluted share count rose 5.1% in five years, which is dilution.
  • Operating margin is down 12.0 points on five years ago, at 6.9%.
  • Profitable in every one of the 9 years on file.