Franklin Resources Inc (BEN)
🔔 Watch stock
symbol.quality_heading
The business works in principle, but one material question is open. As long as it stays open, our findings do not carry a quality verdict.
Whoever buys today bets that the inflow turnaround holds, the SEC investigation ends lightly and GAAP earnings keep covering the dividend — and gets a 5.5 percent yield plus buybacks in return. Whoever waits checks three lines in every quarterly report (10-Q): the long-term net flows (do they stay positive?), the SEC paragraph in Note 10 (does the resolution come, and at what price?) and the coverage of the dividend by reported earnings. As long as those three points are open, the stock is a watchlist position with clear checkpoints. The decision is yours.
symbol.quality_note
Franklin Resources (Franklin Templeton) has raised its dividend every year since 1981 — through every crash. The stock sits at rank 3 of the U.S. selection in our in-house Dividend Aristocrats scanner (as of July 18, 2026), with a dividend yield around 5.5 percent. We read the annual reports (10-K) and the quarterly reports (10-Q) through March 31, 2026: a scandal at bond subsidiary Western Asset that drove $141.9 billion out the door in fiscal 2025, two years in which the dividend exceeded reported earnings — and a turnaround that has been in the numbers since October 2025. Not investment advice — just a weigh-in of engine versus anchor chain.
Read the analysis
Stock Watch
This analysis is as of July 18, 2026. Stock Watch will tell you what's changed at BEN since then.
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Appears in These Scanners
This stock currently matches 13 of our scanner strategies — each hit links to the scanner.
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. View all scanners
Trading Day
Key levels of the most recently completed trading day — not a live quote.
52-Week Range
Current price 33.90 $ — 96% of the range above the low.
Lowest and highest closing price over the last 52 weeks. The marker shows where the current price sits within that range: close to the high speaks for strength, close to the low for weakness.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 08/03/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
Quality & Screener
AI Rating
Uses AIDer Geschäftsbericht 10-K für das Geschäftsjahr 2025 dokumentiert operativen KI-Einsatz in vielen Geschäftsbereichen mit geplanter Ausweitung („Artificial Intelligence (AI) is used in many areas of our business…“) sowie Prozessautomatisierung mit KI. KI ist keine Umsatzquelle, und die Risk-Factor-Passagen betreffen Risiken des eigenen KI-Einsatzes (Regulierung, Fehlinhalte, Cyber-Missbrauch), nicht eine konkrete Bedrohung des Geschäftsmodells durch KI — daher „Nutzt KI“.
View the full file — quotes, sources, reviewed filings
„Artificial Intelligence (AI) is used in many areas of our business and we plan to further incorporate AI into additional areas. The use of AI offers efficiencies, but also introduces significant challenges related to data security, privacy, intellectual property, regulatory compliance, accuracy and bias concerns, and reputational harm, among others."
Künstliche Intelligenz (KI) wird in vielen Bereichen unseres Geschäfts eingesetzt, und wir planen, KI in weitere Bereiche einzubinden. Der Einsatz von KI bietet Effizienzgewinne, bringt aber auch erhebliche Herausforderungen mit sich — unter anderem in Bezug auf Datensicherheit, Datenschutz, geistiges Eigentum, regulatorische Compliance, Bedenken hinsichtlich Genauigkeit und Verzerrung sowie Reputationsschäden.
„In addition, developments in our use of process automation and artificial intelligence (“AI”) further heighten our dependency on technology, as such technology may be complex and unpredictable."
Darüber hinaus erhöhen die Entwicklungen bei unserem Einsatz von Prozessautomatisierung und Künstlicher Intelligenz („KI“) unsere Abhängigkeit von Technologie zusätzlich, da diese Technologie komplex und unvorhersehbar sein kann.
„Developing regulatory treatment of AI, and failure to adequately address AI-related challenges, creates a risk of reputational harm and an impediment to growth."
Die sich entwickelnde regulatorische Behandlung von KI sowie ein unzureichender Umgang mit KI-bezogenen Herausforderungen begründen ein Risiko von Reputationsschäden und ein Hemmnis für das Wachstum.
Filings Reviewed: 10-Q 2026-04-28 · 10-Q 2026-01-30 · 10-Q 2025-08-01 · 10-Q 2025-05-02 · 10-K 2025-11-10 · 10-K 2024-11-12
Rated on July 18, 2026 · How the Rating Is Built
Growth Score
4 of 10 Weak growthTen checks against the annual reports — each one passed counts a point.
- Revenue grows by more than 15% a year over three years 2.0% failed
- More than 10% revenue growth is expected for the coming year 0.8% failed
- Share count grows by less than 3% a year 1.8% passed
- Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") 13.9% failed
- Gross margin at 40% or higher and without meaningful erosion 80.3% passed
- Goodwill from acquisitions does not grow faster than revenue 19.2% failed
- Net debt below twice EBITDA 6.9 x EBITDA failed
- Operating cash flow covers the profits of the last three years 1,304 m passed
- Return on capital at 15% or higher, or up versus two years ago 2.0% failed
- Insiders hold at least 10% or are net buyers 48.5% passed
A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail
Analysts & Price Target
The price target sits 2.7% above the current price.
- Consensus
- Buy
- Analyst Ratings
- 11
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 09/30/2026 | 2.84 | 2.77 – 2.88 | 9,292 | 27.9% | 10 |
| 09/30/2027 | 3.13 | 2.99 – 3.23 | 9,598 | 10.0% | 10 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Next Reporting Date
Expected date of the next quarterly or annual figures. Dates do shift occasionally — only the invitation issued by the company is binding.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
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· Total · per year
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The figures could not be loaded right now.
Source: fundamental data
Quarterly Figures
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | 0.29 | -42.00 | 2,252 | 13.10 | 7.30 | -145 | -217 |
| 2025: Q1 | 0.29 | 22.10 | 2,111 | -1.90 | 7.20 | -50 | -88 |
| 2025: Q2 | 0.18 | -46.90 | 2,064 | -2.80 | 4.50 | 1,282 | 1,268 |
| 2025: Q3 | 0.23 | – | 2,344 | 6.00 | 5.00 | -21 | -52 |
| 2025: Q4 | 0.49 | 69.00 | 2,327 | 3.40 | 11.00 | -255 | -255 |
| 2026: Q1 | 0.49 | 69.00 | 2,295 | 8.70 | 15.10 | -36 | -31 |
| 2026: Q2 | 0.31 | 72.20 | 2,358 | 14.30 | 7.30 | 581 | 581 |
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Annual Figures
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2016 | 6,618 | 2,366 | 1,727 | 2.96 | 1,728 | 11,936 | 16,099 |
| 2017 | 6,392 | 2,264 | 1,697 | 3.03 | 1,135 | 12,620 | 17,534 |
| 2018 | 6,319 | 2,119 | 764 | 1.42 | 2,230 | 9,899 | 14,384 |
| 2019 | 5,775 | 1,557 | 1,196 | 2.37 | 269 | 9,907 | 14,532 |
| 2020 | 5,567 | 1,049 | 799 | 1.62 | 1,021 | 10,115 | 21,685 |
| 2021 | 8,426 | 1,875 | 1,831 | 3.73 | 1,245 | 11,223 | 24,168 |
| 2022 | 8,275 | 1,774 | 1,292 | 2.64 | 1,957 | 11,475 | 28,061 |
| 2023 | 7,849 | 1,102 | 883 | 1.80 | 1,139 | 11,917 | 30,121 |
| 2024 | 8,478 | 408 | 465 | 0.91 | 971 | 12,508 | 32,465 |
| 2025 | 8,771 | 604 | 525 | 1.02 | 1,066 | 12,078 | 32,368 |
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Assessment: Opportunities & Risks
Raised every year since 1981 — 45 consecutive years, most recently +3.1 percent to $0.33 per quarter (8-K dated 12/17/2025); a yield around 5.5 percent (mid-July 2026), plus a buyback program topped up to as many as 40 million shares in December 2025.
In fiscal 2024 and 2025 the dividend exceeded GAAP net income ($670.1M vs. $464.8M and $688.4M vs. $524.9M) — carried by adjusted earnings (58 percent payout in FY 2025) and the cash pile; in the first half of fiscal 2026, GAAP earnings ($0.95 per share) covered the dividend ($0.66) again.
After −$32.6 billion (FY 2024) and −$97.4 billion (FY 2025, of which WAM −$141.9B), long-term net flows turned to +$44.9 billion in the first half of fiscal 2026; AUM $1,682.1 billion as of 03/31/2026 (+9 percent), alternatives +12 percent (10-K FY 2025, 10-Q as of 03/31/2026).
CFTC probe closed and the DOJ prepared to resolve without criminal charges against WAM — but the SEC investigation continues, the investor class action (since 07/03/2025) is pending, and the case against former co-CIO Leech is open (10-Q as of 03/31/2026, Note 10).
Effective fee rate of 40.5 after 41.1 basis points (FY 2025 vs. 2024), adjusted profit down three years in a row ($1,332.2M → $1,276.7M → $1,195.8M), GAAP operating margin of just 6.9 percent in FY 2025 — the mix shift toward alternatives takes time.
Roughly $12.2 billion of market value (mid-July 2026): P/E around 25 on GAAP, around 10 to 11 on fiscal 2025 adjusted earnings, single-digit on analyst estimates — after a good 40 percent share-price run in six months, part of the recovery is already paid for.
Franklin Resources is the case of a Dividend Aristocrat with an anchor: 45 years of raises and a 5.5 percent yield stand against two fiscal years in which the payout exceeded reported earnings, because the Western Asset scandal cost $141.9 billion of client money and over $600 million in impairments. Since October 2025 the tanker has been turning — net inflows, an earnings jump, the CFTC out, the DOJ easing — yet the SEC investigation and structural fee pressure remain. Whoever invests here buys the raise streak and bets that the turnaround closes the coverage gap for good. Not investment advice.
- BEN made the research list via our in-house Dividend Aristocrats scanner: rank 3 of the U.S. selection as of July 18, 2026; the scanner requires at least 25 consecutive years of dividend raises — Franklin stands at 45 (since 1981).
- Scanner metrics (P/E around 25, P/B around 1.4, Piotroski 5) use trailing twelve-month GAAP figures; the fiscal 2024/2025 impairments ($389.2M + $226.6M) distort the P/E upward. Franklin's fiscal year ends September 30 — all annual figures carry that offset.
- Market value and valuation figures (~$12.2 billion) from the fundamental data, as of mid-July 2026; analyses are evergreen, daily prices are not a buy argument.
About the Company
Franklin Resources, Inc. ist ein börsennotierter Vermögensverwalter.
| Employees | 10,000 |
|---|---|
| Headquarters | San Mateo, CA |
| Address | One Franklin Parkway, 94403 San Mateo, United States |
| Phone | 650-312-2000 |
| Website | franklinresources.com |
| IPO Date | 7. Sep 1984 |
| ISIN | US3546131018 |
| Stock Split | 3:1 on 07/26/2013 |
Management
| Name | Title | Birth Year |
|---|---|---|
| Matthew Nicholls | Co-President, CFO & COO | 1973 |
| Terrence James Murphy | Co-President & Head of Public Market Investments | 1968 |
| Daniel Ernesto Gamba CFA | Co-President & Chief Commercial Officer | 1968 |
| Avinash Deepak Satwalekar CFA | President of India | – |
| Lindsey Harumi Oshita | Senior VP & Chief Accounting Officer | 1983 |
| Bassel Khatoun | Head of Research & Director of Portfolio Management | – |
| Anupama Sawhney | Chief Administrative Officer & Head of Business Development | – |
| Selene Oh | Head of Investor Relations | – |
| Thomas Clifton Merchant J.D. | Executive VP, General Counsel & Assistant Secretary | 1968 |
| Sandeep Singh | Head of CEEMEA & India | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Insider Transactions
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| 21. Jul 2026 | Murphy Terrence | Co-President, Public Markets | Other | 229,850 | 32.63 | 7,500,006 |
| 21. Jul 2026 | Nicholls Matthew | Co-President, CFO & COO | Other | 229,850 | 32.63 | 7,500,006 |
| 21. Jul 2026 | Gamba Daniel | Co-President, Chief Commercial | Other | 229,850 | 32.63 | 7,500,006 |
| 21. Jul 2026 | Johnson Jennifer M | Chief Executive Officer | Other | 229,850 | 32.63 | 7,500,006 |
| 20. Jul 2026 | Franklin Resources Inc | Affiliate of Investment Adv. | Sell | 1,682,905 | 11.29 | 18,999,997 |
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.
View all insider transactions →Chart
Interactive price chart (TradingView).
Data as of: July 31, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.