Franklin Resources (BEN) Financials

$31.02 +0.51 (+1.65%)

Closing price 03:59 PM Eastern

Extended Trading

$31.02 0.00 (-0.01%)

As of 07:57 PM Eastern

Annual Income Statements for Franklin Resources

This table shows Franklin Resources' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	9/30/2015	9/30/2016	9/30/2017	9/30/2018	9/30/2019	9/30/2020	9/30/2021	9/30/2022	9/30/2023	9/30/2024	9/30/2025
Net Income / (Loss) Attributable to Common Shareholders	2,035	1,727	-4,554	764	4,073	799	1,831	1,292	883	465	525
Consolidated Net Income / (Loss)	2,105	1,758	1,790	743	1,206	787	2,095	1,333	1,026	608	549
Net Income / (Loss) Continuing Operations	2,105	1,758	-4,501	743	2,887	787	2,095	1,333	1,026	608	549
Total Pre-Tax Income	3,028	2,500	2,549	2,215	1,648	1,018	2,444	1,729	1,338	823	787
Total Operating Income	3,028	2,366	2,264	2,028	1,467	1,049	1,875	1,774	1,102	408	604
Total Gross Profit	6,495	5,257	102	4,814	9,754	3,693	5,454	5,186	4,355	4,647	4,953
Total Revenue	7,949	6,618	102	6,205	11,339	5,567	8,426	8,275	7,849	8,478	8,771
Operating Revenue	7,949	6,618	102	6,205	11,339	5,567	8,426	8,275	7,849	8,478	8,771
Total Cost of Revenue	1,453	1,361	0.00	1,391	1,585	1,874	2,971	3,090	3,494	3,831	3,818
Operating Cost of Revenue	1,453	1,361	-	1,391	1,585	1,874	2,971	3,090	3,494	3,831	3,818
Total Operating Expenses	3,468	2,891	4,128	2,786	6,820	2,644	3,579	3,412	3,253	4,239	4,348
Selling, General & Admin Expense	573	547	542	616	259	739	1,023	1,065	1,070	1,323	1,418
Marketing Expense	2,762	2,210	2,131	2,040	1,820	1,703	2,106	1,846	1,613	1,863	2,011
Amortization Expense	-	-	-	1.80	15	54	232	282	341	338	407
Other Operating Expenses / (Income)	133	134	1,455	129	4,728	148	218	219	229	325	286
Impairment Charge	-	-	-	-	-	-	-	0.00	0.00	389	227
Total Other Income / (Expense), net	0.80	134	285	187	396	-31	569	-59	236	416	183
Other Income / (Expense), net	40	184	336	187	418	-31	569	40	236	416	183
Income Tax Expense	924	742	759	1,473	442	231	350	396	312	215	238
Net Income / (Loss) Attributable to Noncontrolling Interest	69	31	53	-22	9.80	-12	263	41	143	143	24
Basic Earnings per Share	$3.29	$2.94	$3.01	$1.39	$2.35	$1.59	$3.58	$2.53	$1.72	$0.85	$0.91
Weighted Average Basic Shares Outstanding	601.49M	568.81M	553.91M	513.09M	498.07M	504.59M	501.80M	499.56M	494.58M	523.67M	520.97M
Diluted Earnings per Share	$3.29	$2.94	$3.01	$1.39	$2.35	$1.59	$3.57	$2.53	$1.72	$0.85	$0.91
Weighted Average Diluted Shares Outstanding	601.49M	568.81M	553.91M	513.09M	498.07M	504.59M	501.80M	499.56M	494.58M	523.67M	520.97M
Weighted Average Basic & Diluted Shares Outstanding	601.49M	568.81M	553.91M	513.09M	498.07M	504.59M	501.80M	499.56M	494.58M	523.67M	520.97M
Cash Dividends to Common per Share	$1.10	$0.72	$0.80	$3.92	$1.04	$1.08	$1.12	$1.16	$1.20	$1.24	$1.28

This table shows Franklin Resources' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	296	251	124	174	-85	164	151	92	118	256	268
Consolidated Net Income / (Loss)	337	256	175	232	-56	232	12	117	189	347	347
Net Income / (Loss) Continuing Operations	337	256	175	232	-140	232	12	117	189	347	347
Total Pre-Tax Income	412	331	238	300	-46	313	43	177	254	452	446
Total Operating Income	338	207	129	223	-151	219	146	154	85	281	323
Total Gross Profit	1,160	1,023	1,125	1,229	1,270	1,260	1,191	1,163	1,338	1,296	1,330
Total Revenue	1,986	1,991	2,153	2,123	2,211	2,252	2,111	2,064	2,344	2,327	2,295
Operating Revenue	1,986	1,991	2,153	2,123	2,211	2,252	2,111	2,064	2,344	2,327	2,295
Total Cost of Revenue	826	968	1,028	894	941	991	920	901	1,006	1,031	965
Operating Cost of Revenue	826	968	1,028	894	941	991	920	901	1,006	1,031	965
Total Operating Expenses	822	816	995	1,007	1,421	1,041	1,046	1,009	1,253	1,015	1,007
Selling, General & Admin Expense	266	263	350	337	374	341	342	346	389	353	345
Marketing Expense	411	401	484	481	497	512	498	481	520	541	544
Amortization Expense	87	86	85	84	84	113	113	112	69	55	51
Other Operating Expenses / (Income)	58	67	76	105	78	75	69	70	72	67	67
Total Other Income / (Expense), net	74	125	109	78	20	94	-103	23	169	171	122
Other Income / (Expense), net	74	125	109	78	117	94	-103	23	169	171	122
Income Tax Expense	75	75	63	68	9.50	81	31	60	66	105	99
Net Income / (Loss) Attributable to Noncontrolling Interest	40	5.00	51	58	29	69	19	24	71	91	78
Basic Earnings per Share	$0.58	$0.50	$0.23	$0.32	($0.20)	$0.29	$0.26	$0.15	$0.21	$0.46	$0.49
Weighted Average Basic Shares Outstanding	494.58M	526.56M	526.09M	523.00M	523.67M	525.40M	525.52M	519.20M	520.97M	520.76M	519.64M
Diluted Earnings per Share	$0.58	$0.50	$0.23	$0.32	($0.20)	$0.29	$0.26	$0.15	$0.21	$0.46	$0.49
Weighted Average Diluted Shares Outstanding	494.58M	526.56M	526.09M	523.00M	523.67M	525.40M	525.52M	519.20M	520.97M	520.76M	519.64M
Weighted Average Basic & Diluted Shares Outstanding	494.58M	526.56M	526.09M	523.00M	523.67M	525.40M	525.52M	519.20M	520.97M	520.76M	519.64M
Cash Dividends to Common per Share	-	$0.31	$0.31	$0.31	-	$0.32	$0.32	$0.32	-	$0.33	$0.33

This table details how cash moves in and out of Franklin Resources' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	9/30/2015	9/30/2016	9/30/2017	9/30/2018	9/30/2019	9/30/2020	9/30/2021	9/30/2022	9/30/2023	9/30/2024	9/30/2025
Net Change in Cash & Equivalents	772	115	266	-1,839	-704	-2,217	657	135	-380	6.50	-835
Net Cash From Operating Activities	2,252	1,728	1,135	2,230	269	1,083	1,245	1,957	1,089	971	1,066
Net Cash From Continuing Operating Activities	2,252	1,728	1,135	2,230	269	1,083	1,245	1,957	1,089	971	1,066
Net Income / (Loss) Continuing Operations	2,105	1,758	1,790	743	1,206	787	2,095	1,333	1,026	608	549
Consolidated Net Income / (Loss)	2,105	1,758	1,790	743	1,206	787	2,095	1,333	1,026	608	549
Depreciation Expense	97	87	80	75	79	75	79	96	104	117	125
Amortization Expense	113	75	72	83	101	134	310	347	391	400	486
Non-Cash Adjustments To Reconcile Net Income	-38	-159	-994	596	-1,263	-383	-1,139	110	-538	117	202
Changes in Operating Assets and Liabilities, net	-25	-33	188	734	147	471	-99	71	106	-270	-296
Net Cash From Investing Activities	249	192	52	-290	-1,275	-4,062	-2,616	-3,329	-3,610	-2,424	-2,343
Net Cash From Continuing Investing Activities	249	192	52	-290	-1,275	-4,062	-2,616	-3,329	-3,610	-2,424	-2,343
Purchase of Property, Plant & Equipment	-69	-98	-75	-107	-234	-104	-79	-90	-149	-177	-155
Acquisitions	0.00	0.00	-14	-87	-494	-3,821	-9.00	-1,355	-501	175	0.00
Purchase of Investments	-92	-104	-487	-432	-402	-481	-770	-926	-758	-1,128	-1,037
Sale and/or Maturity of Investments	406	405	713	360	343	880	594	1,026	609	1,407	776
Other Investing Activities, net	4.40	-12	-85	-25	-490	-535	-2,351	-1,984	-2,812	-2,701	-1,927
Net Cash From Financing Activities	-1,612	-1,801	-956	-3,762	340	734	2,030	1,585	2,107	1,416	452
Net Cash From Continuing Financing Activities	-1,612	-1,801	-956	-3,762	340	734	2,030	1,585	2,107	1,416	452
Repayment of Debt	-410	-187	-354	-362	-1.50	-0.40	-762	-300	-300	-250	-700
Repurchase of Preferred Equity	-	-	-	-	-	-	0.00	0.00	175	5.30	145
Repurchase of Common Equity	-1,060	-1,308	-765	-1,425	-755	-218	-208	-181	-256	-274	-240
Payment of Dividends	-566	-421	460	-1,957	632	-124	162	-383	38	-416	-237
Issuance of Debt	396	93	0.00	0.00	1.70	0.20	1,194	300	0.00	0.00	300
Issuance of Common Equity	26	24	25	25	23	21	22	25	23	21	24
Other Financing Activities, net	2.80	-2.40	-322	-43	439	1,056	1,622	2,124	2,427	2,330	1,161
Effect of Exchange Rate Changes	-117	-4.00	35	-17	-37	27	-	-77	34	43	-11
Cash Interest Paid	45	47	42	39	27	19	117	133	122	113	107
Cash Income Taxes Paid	925	759	712	524	521	359	498	468	233	436	465

This table details how cash moves in and out of Franklin Resources' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	15	-523	245	-13	673	-764	-106	418	-383	-89	84
Net Cash From Operating Activities	765	-252	137	528	558	-145	-50	1,282	-21	-255	-28
Net Cash From Continuing Operating Activities	765	-252	137	528	558	-145	-50	1,282	-21	-255	-28
Net Income / (Loss) Continuing Operations	338	256	175	232	-56	232	12	117	189	347	347
Consolidated Net Income / (Loss)	338	256	175	232	-56	232	12	117	189	347	347
Depreciation Expense	26	26	32	29	30	30	31	34	31	29	29
Amortization Expense	99	99	100	99	103	133	131	132	90	78	76
Non-Cash Adjustments To Reconcile Net Income	88	-100	-69	-81	367	-1.60	151	213	-160	-74	-345
Changes in Operating Assets and Liabilities, net	212	-533	-101	250	115	-539	-375	787	-170	-635	-135
Net Cash From Investing Activities	-332	-138	-273	-812	-1,201	-657	-364	-881	-441	-317	-1,359
Net Cash From Continuing Investing Activities	-332	-138	-273	-812	-988	-657	-364	-881	-441	-317	-1,359
Purchase of Investments	-93	-267	-234	-1,516	889	-458	203	-359	-133	-265	-369
Sale of Property, Plant & Equipment	-	-	-	-	-	0.00	-	-	-	9.30	-4.80
Sale and/or Maturity of Investments	84	318	226	606	257	168	312	-36	332	219	238
Other Investing Activities, net	-296	-168	-402	147	-2,065	-295	-841	-471	-610	-211	-1,223
Net Cash From Financing Activities	-386	-159	391	274	909	88	292	-16	89	487	1,491
Net Cash From Continuing Financing Activities	-386	-159	391	274	1,071	88	292	-16	89	487	1,491
Repurchase of Preferred Equity	-	0.00	-	-	5.30	39	2.30	57	47	0.00	0.50
Repurchase of Common Equity	-186	-59	-12	-102	-102	-5.80	-10	-157	-67	-42	-57
Payment of Dividends	-58	-118	-136	-33	-130	5.60	-197	-88	43	-45	305
Other Financing Activities, net	148	18	531	-554	2,497	49	637	172	352	575	1,330
Effect of Exchange Rate Changes	-	-	-	-	-	-50	-	-	-	-4.20	-21
Cash Interest Paid	66	11	41	16	46	9.90	39	13	44	11	37
Cash Income Taxes Paid	7.80	27	292	40	78	28	189	15	233	20	369

This table presents Franklin Resources' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	9/30/2015	9/30/2016	9/30/2017	9/30/2018	9/30/2019	9/30/2020	9/30/2021	9/30/2022	9/30/2023	9/30/2024	9/30/2025
Total Assets	16,336	16,099	17,534	14,384	14,532	21,685	24,168	28,061	30,121	32,465	32,368
Total Current Assets	21,705	10,791	14,613	10,089	9,101	9,415	13,406	15,731	17,777	19,261	19,768
Cash & Equivalents	16,736	8,483	8,750	6,911	5,958	3,990	4,647	4,783	4,402	4,409	3,574
Short-Term Investments	4,109	1,513	4,861	2,109	2,304	4,074	7,330	9,549	11,859	13,373	14,653
Accounts Receivable	860	794	1,002	848	839	1,351	1,428	1,399	1,515	1,479	1,542
Plant, Property, & Equipment, net	510	523	517	535	684	814	770	743	800	946	949
Plant, Property & Equipment, gross	510	523	517	535	684	814	770	743	800	946	949
Total Noncurrent Assets	2,510	4,786	2,404	3,760	4,748	11,574	9,993	11,721	11,711	12,257	11,651
Goodwill	2,257	2,211	2,228	2,333	2,130	4,501	4,458	5,779	6,004	6,211	6,206
Intangible Assets	-	-	-	-	864	4,914	4,710	5,082	4,902	4,802	4,166
Other Noncurrent Operating Assets	253	2,575	177	1,427	1,754	2,159	825	860	805	1,243	1,279
Total Liabilities & Shareholders' Equity	16,336	16,099	17,534	14,384	14,532	21,685	24,168	28,061	30,121	32,465	32,368
Total Liabilities	3,780	3,510	2,656	3,132	3,161	10,274	11,425	14,236	16,547	17,900	18,180
Total Current Liabilities	1,154	1,063	1,189	1,687	1,521	3,694	2,249	2,165	1,861	2,784	2,679
Accounts Payable	268	299	292	227	304	1,038	1,037	1,113	880	1,413	1,678
Other Current Liabilities	-	357	397	-	0.00	1,685	518	528	468	965	1,001
Total Noncurrent Liabilities	2,669	2,521	1,476	1,454	1,641	6,591	9,189	12,246	14,711	15,155	15,518
Long-Term Debt	2,155	2,083	1,098	729	748	5,818	7,070	8,834	11,285	12,122	12,299
Noncurrent Deferred & Payable Income Tax Liabilities	241	162	171	127	120	305	312	348	450	285	262
Noncurrent Employee Benefit Liabilities	-	-	-	406	502	-	1,179	1,464	1,665	1,801	1,760
Other Noncurrent Operating Liabilities	272	276	207	193	271	468	628	1,600	1,311	947	1,197
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	60	61	1,942	1,044	747	542	933	1,526	1,026	1,322	1,182
Total Equity & Noncontrolling Interests	12,496	12,528	12,936	10,208	10,624	10,869	11,811	12,299	12,548	13,243	13,007
Total Preferred & Common Equity	11,841	11,936	12,620	9,899	9,907	10,115	11,223	11,475	11,917	12,508	12,078
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	11,841	11,936	12,620	9,899	9,907	10,115	11,223	11,475	11,917	12,508	12,078
Common Stock	60	57	56	52	50	50	50	50	50	1,000	1,009
Retained Earnings	12,095	12,226	12,849	10,218	10,288	10,473	11,551	12,046	12,377	11,928	11,516
Accumulated Other Comprehensive Income / (Loss)	-314	-347	-285	-371	-432	-408	-378	-621	-509	-420	-447
Noncontrolling Interest	655	592	316	309	718	755	587	824	631	735	929

This table presents Franklin Resources' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	12/31/2025	3/31/2026
Total Assets	30,235	30,121	29,866	32,908	33,255	32,465	32,390	31,990	32,552	32,549	34,110
Total Current Assets	17,736	17,777	17,324	19,286	8,627	19,479	19,470	19,247	19,721	19,842	21,484
Cash & Equivalents	4,388	4,402	3,880	4,124	4,112	4,409	3,645	3,539	3,957	3,485	3,569
Short-Term Investments	11,888	11,859	11,680	13,527	2,945	13,373	14,290	14,089	14,041	14,912	16,380
Accounts Receivable	1,460	1,515	1,764	1,635	1,571	1,697	1,535	1,619	1,723	1,446	1,535
Plant, Property, & Equipment, net	806	800	807	899	905	946	978	988	975	930	904
Plant, Property & Equipment, gross	806	800	807	899	-	946	978	988	975	930	904
Total Noncurrent Assets	11,811	11,711	12,029	12,908	12,812	12,257	12,084	11,921	11,856	11,777	11,831
Goodwill	6,012	6,004	6,013	6,199	6,199	6,211	6,194	6,198	6,212	6,291	6,296
Intangible Assets	4,995	4,902	4,823	5,331	5,268	4,802	4,677	4,544	4,440	4,155	4,091
Other Noncurrent Operating Assets	804	805	1,193	1,378	1,346	1,243	1,212	1,179	1,204	1,331	1,444
Total Liabilities & Shareholders' Equity	30,235	30,121	29,866	32,908	33,255	32,465	32,390	31,990	32,552	32,549	34,110
Total Liabilities	16,645	16,547	16,150	18,072	18,354	17,900	17,050	16,812	18,117	18,157	19,495
Total Current Liabilities	2,072	1,861	2,487	2,635	915	4,586	3,986	2,250	3,041	2,429	2,274
Accounts Payable	1,129	880	1,001	1,318	532	1,413	1,446	1,121	1,877	1,216	1,286
Other Current Liabilities	495	468	865	983	-	965	946	989	1,002	985	988
Total Noncurrent Liabilities	14,600	14,711	13,688	24,618	7,084	13,354	22,131	24,105	24,668	26,590	29,391
Long-Term Debt	11,347	11,285	10,887	21,303	3,035	12,122	20,886	21,736	21,822	24,083	26,560
Noncurrent Deferred & Payable Income Tax Liabilities	451	450	393	438	421	285	280	211	264	318	337
Noncurrent Employee Benefit Liabilities	1,461	1,665	1,164	1,413	1,692	-	-	1,302	1,614	1,205	1,387
Other Noncurrent Operating Liabilities	1,340	1,311	1,244	1,464	1,937	947	965	857	968	984	1,107
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	1,050	1,026	1,079	1,254	1,266	1,322	2,106	2,017	1,381	1,292	1,479
Total Equity & Noncontrolling Interests	12,539	12,548	12,638	13,582	13,635	13,243	13,234	13,161	13,054	13,101	13,136
Total Preferred & Common Equity	11,948	11,917	12,002	12,861	12,870	12,508	12,462	12,346	12,204	12,135	12,124
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	11,948	11,917	12,002	12,861	12,870	12,508	12,462	12,346	12,204	12,135	12,124
Common Stock	50	50	50	1,075	1,037	1,000	1,067	1,115	1,007	1,043	1,052
Retained Earnings	12,361	12,377	12,402	12,265	12,321	11,928	11,919	11,730	11,610	11,540	11,561
Accumulated Other Comprehensive Income / (Loss)	-463	-509	-450	-479	-488	-420	-524	-499	-413	-448	-489
Noncontrolling Interest	591	631	636	721	765	735	772	815	851	966	1,013

This table displays calculated financial ratios and metrics derived from Franklin Resources' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	9/30/2015	9/30/2016	9/30/2017	9/30/2018	9/30/2019	9/30/2020	9/30/2021	9/30/2022	9/30/2023	9/30/2024	9/30/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-6.39%	-16.74%	-98.46%	6,000.79%	82.75%	-50.91%	51.36%	-1.78%	-5.15%	8.01%	3.45%
EBITDA Growth	-10.90%	-17.27%	1.51%	-13.83%	-12.99%	-40.57%	130.94%	-20.36%	-18.74%	-26.24%	4.37%
EBIT Growth	-11.25%	-16.89%	2.00%	-14.82%	-14.91%	-46.00%	140.12%	-25.80%	-26.22%	-37.54%	-4.42%
NOPAT Growth	-7.65%	-20.95%	-4.43%	-57.23%	57.82%	-24.42%	98.11%	-14.89%	-38.21%	-64.38%	40.02%
Net Income Growth	-12.73%	-16.49%	1.82%	-58.50%	62.31%	-34.71%	166.12%	-36.35%	-23.06%	-40.73%	-9.71%
EPS Growth	-13.19%	-10.64%	2.38%	-53.82%	69.06%	-32.34%	124.53%	-29.13%	-32.02%	-50.58%	7.06%
Operating Cash Flow Growth	5.33%	-23.28%	-34.28%	96.38%	-87.96%	303.46%	14.96%	57.11%	-44.33%	-10.82%	9.76%
Free Cash Flow Firm Growth	1,277.70%	-114.30%	659.80%	-97.72%	130.71%	-2,329.10%	174.19%	-72.79%	-56.60%	-110.83%	495.47%
Invested Capital Growth	-49.99%	88.00%	-44.45%	21.30%	25.83%	124.53%	-17.99%	5.92%	5.46%	3.93%	-7.00%
Revenue Q/Q Growth	-3.42%	-3.81%	-98.41%	5,144.72%	97.73%	0.00%	0.00%	-2.84%	0.60%	2.73%	1.53%
EBITDA Q/Q Growth	-8.17%	1.10%	0.72%	-8.83%	10.06%	116.16%	340.80%	-4.43%	14.14%	-27.63%	24.67%
EBIT Q/Q Growth	-8.63%	1.64%	0.83%	-9.43%	10.22%	165.56%	830.77%	-7.33%	20.27%	-38.52%	57.74%
NOPAT Q/Q Growth	-5.68%	-1.97%	-1.62%	-0.44%	-12.70%	0.00%	0.00%	-17.31%	0.23%	-57.69%	82.78%
Net Income Q/Q Growth	-10.59%	5.49%	0.20%	-0.03%	-12.17%	-18.85%	41.69%	-28.72%	14.71%	-43.63%	80.14%
EPS Q/Q Growth	-12.96%	5.00%	-1.63%	12.10%	-11.65%	-22.44%	47.52%	-24.70%	6.83%	-47.85%	82.00%
Operating Cash Flow Q/Q Growth	-11.41%	7.81%	-25.33%	32.28%	-69.85%	35.11%	11.20%	22.57%	-8.56%	-20.85%	-35.19%
Free Cash Flow Firm Q/Q Growth	174.94%	-124.48%	872.52%	-94.82%	115.53%	-2,468.87%	156.59%	7.60%	-86.84%	95.05%	-44.77%
Invested Capital Q/Q Growth	-2.46%	204.69%	-2.94%	80.50%	-3.31%	126.86%	-22.37%	-23.92%	-0.16%	-12.02%	-4.88%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	81.72%	79.44%	100.00%	77.59%	86.02%	66.34%	64.73%	62.66%	55.49%	54.81%	56.47%
EBITDA Margin	41.24%	40.98%	2,706.88%	38.24%	18.20%	22.04%	33.62%	27.26%	23.36%	15.95%	15.94%
Operating Margin	38.09%	35.75%	2,226.45%	32.69%	12.94%	18.84%	22.25%	21.44%	14.04%	4.81%	6.89%
EBIT Margin	38.60%	38.53%	2,557.13%	35.70%	16.62%	18.29%	29.01%	21.91%	17.05%	9.86%	8.97%
Profit (Net Income) Margin	26.48%	26.56%	1,759.78%	11.97%	10.63%	14.14%	24.86%	16.11%	13.07%	7.17%	6.26%
Tax Burden Percent	69.50%	70.31%	70.21%	33.53%	73.16%	77.33%	85.70%	77.09%	76.66%	73.85%	69.76%
Interest Burden Percent	98.71%	98.04%	98.02%	100.00%	87.42%	100.00%	100.00%	95.36%	100.00%	98.50%	100.00%
Effective Tax Rate	30.50%	29.69%	29.79%	66.47%	26.84%	22.67%	14.30%	22.91%	23.34%	26.15%	30.24%
Return on Invested Capital (ROIC)	52.64%	43.34%	40.80%	22.08%	28.15%	11.77%	18.51%	16.98%	9.93%	3.38%	4.93%
ROIC Less NNEP Spread (ROIC-NNEP)	52.64%	42.26%	38.76%	21.45%	26.38%	12.30%	4.15%	17.63%	6.44%	-2.57%	2.74%
Return on Net Nonoperating Assets (RNNOA)	-35.81%	-29.36%	-27.76%	-16.39%	-17.49%	-4.86%	-1.17%	-6.94%	-2.44%	0.94%	-1.11%
Return on Equity (ROE)	16.84%	13.98%	13.03%	5.68%	10.66%	6.91%	17.34%	10.04%	7.49%	4.32%	3.82%
Cash Return on Invested Capital (CROIC)	119.29%	-17.77%	97.94%	2.83%	5.27%	-64.98%	38.28%	11.23%	4.61%	-0.48%	12.18%
Operating Return on Assets (OROA)	18.77%	15.72%	15.46%	13.88%	13.04%	5.62%	10.66%	6.94%	4.60%	2.67%	2.43%
Return on Assets (ROA)	12.88%	10.84%	10.64%	4.65%	8.34%	4.35%	9.14%	5.11%	3.53%	1.94%	1.69%
Return on Common Equity (ROCE)	15.77%	13.22%	11.65%	4.90%	9.33%	6.07%	15.32%	8.57%	6.39%	3.75%	3.26%
Return on Equity Simple (ROE_SIMPLE)	17.77%	14.73%	14.18%	7.50%	12.17%	7.78%	18.66%	11.62%	8.61%	4.86%	0.00%
Net Operating Profit after Tax (NOPAT)	2,104	1,663	1,590	680	1,073	811	1,607	1,368	845	301	421
NOPAT Margin	26.47%	25.13%	1,563.17%	10.96%	9.46%	14.57%	19.07%	16.53%	10.77%	3.55%	4.81%
Net Nonoperating Expense Percent (NNEP)	0.01%	1.08%	2.03%	0.63%	1.76%	-0.53%	14.36%	-0.66%	3.48%	5.95%	2.19%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	-	-	1.20%
Cost of Revenue to Revenue	18.28%	20.56%	0.00%	22.41%	13.98%	33.66%	35.27%	37.34%	44.51%	45.19%	43.53%
SG&A Expenses to Revenue	7.21%	8.27%	532.94%	9.92%	2.28%	13.27%	12.15%	12.87%	13.63%	15.61%	16.17%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	43.63%	43.69%	4,058.90%	44.90%	60.15%	47.49%	42.48%	41.23%	41.44%	50.00%	49.58%
Earnings before Interest and Taxes (EBIT)	3,068	2,550	2,601	2,215	1,885	1,018	2,444	1,814	1,338	836	787
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	3,278	2,712	2,753	2,372	2,064	1,227	2,833	2,256	1,833	1,352	1,398
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.31	1.19	1.39	1.28	1.20	0.86	1.19	0.85	0.98	0.84	0.99
Price to Tangible Book Value (P/TBV)	1.62	1.46	1.69	1.67	1.72	12.40	6.50	15.85	11.53	7.05	7.04
Price to Revenue (P/Rev)	1.96	2.15	172.82	2.04	1.05	1.56	1.59	1.18	1.49	1.24	1.37
Price to Earnings (P/E)	7.65	8.25	0.00	16.56	2.91	10.86	7.30	7.53	13.20	22.67	22.88
Dividend Yield	3.75%	2.91%	2.54%	3.83%	4.41%	6.17%	4.21%	5.94%	5.14%	6.15%	5.53%
Earnings Yield	13.07%	12.13%	0.00%	6.04%	34.31%	9.21%	13.70%	13.28%	7.57%	4.41%	4.37%
Enterprise Value to Invested Capital (EV/IC)	0.00	1.45	2.74	1.78	1.43	0.84	1.28	0.79	0.95	1.79	2.20
Enterprise Value to Revenue (EV/Rev)	0.00	1.10	75.07	0.97	0.54	1.44	1.18	0.80	1.06	1.92	2.07
Enterprise Value to EBITDA (EV/EBITDA)	0.00	2.69	2.77	2.54	2.94	6.52	3.52	2.92	4.55	12.04	12.96
Enterprise Value to EBIT (EV/EBIT)	0.00	2.86	2.94	2.72	3.22	7.85	4.08	3.63	6.23	19.48	23.04
Enterprise Value to NOPAT (EV/NOPAT)	0.00	4.38	4.80	8.85	5.66	9.85	6.21	4.81	9.87	54.07	43.02
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	4.22	6.72	2.70	22.63	7.38	8.01	3.36	7.65	16.76	17.01
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	2.00	69.06	30.23	0.00	3.00	7.28	21.24	0.00	17.40
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.20	0.19	0.09	0.09	0.09	0.53	0.55	0.64	0.83	1.47	1.57
Long-Term Debt to Equity	0.17	0.17	0.07	0.06	0.07	0.51	0.55	0.64	0.83	1.47	1.57
Financial Leverage	-0.68	-0.69	-0.72	-0.76	-0.66	-0.39	-0.28	-0.39	-0.38	-0.37	-0.41
Leverage Ratio	1.31	1.29	1.22	1.22	1.28	1.59	1.90	1.97	2.12	2.22	2.25
Compound Leverage Factor	1.29	1.26	1.20	1.22	1.12	1.59	1.90	1.87	2.12	2.19	2.25
Debt to Total Capital	16.69%	15.93%	8.66%	8.36%	8.10%	34.78%	35.68%	38.99%	45.40%	59.57%	61.05%
Short-Term Debt to Total Capital	2.39%	2.02%	1.92%	2.43%	2.05%	1.53%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	14.30%	13.91%	6.74%	5.93%	6.04%	33.25%	35.68%	38.99%	45.40%	59.57%	61.05%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	4.74%	4.36%	13.86%	11.01%	11.84%	7.41%	7.67%	10.37%	6.67%	5.71%	5.80%
Common Equity to Total Capital	78.57%	79.71%	77.48%	80.63%	80.07%	57.81%	56.64%	50.64%	47.94%	34.72%	33.16%
Debt to EBITDA	0.77	0.88	0.51	0.43	0.49	4.96	2.50	3.92	6.16	15.87	15.90
Net Debt to EBITDA	-5.59	-2.81	-4.43	-3.37	-3.52	-1.61	-1.73	-2.44	-2.71	2.72	2.87
Long-Term Debt to EBITDA	0.66	0.77	0.40	0.31	0.36	4.74	2.50	3.92	6.16	15.87	15.90
Debt to NOPAT	1.20	1.43	0.89	1.51	0.93	7.50	4.40	6.46	13.35	71.31	52.76
Net Debt to NOPAT	-8.71	-4.58	-7.67	-11.76	-6.76	-2.44	-3.05	-4.02	-5.89	12.23	9.51
Long-Term Debt to NOPAT	1.02	1.25	0.69	1.07	0.70	7.17	4.40	6.46	13.35	71.31	52.76
Altman Z-Score	6.12	5.16	6.41	5.06	5.08	1.91	2.61	2.10	2.04	1.76	1.87
Noncontrolling Interest Sharing Ratio	6.31%	5.44%	10.60%	13.82%	12.45%	12.12%	11.66%	14.57%	14.63%	13.20%	14.49%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	18.81	10.16	12.29	5.98	5.99	2.55	5.96	7.27	9.55	4.25	6.85
Quick Ratio	18.81	10.16	12.29	5.85	5.99	2.55	5.96	7.27	9.55	4.25	6.85
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	4,768	-682	3,817	87	201	-4,480	3,323	904	392	-43	1,042
Operating Cash Flow to CapEx	3,273.26%	1,770.18%	1,515.89%	2,093.62%	114.89%	1,044.65%	1,570.49%	2,166.89%	731.99%	548.45%	690.03%
Free Cash Flow to Firm to Interest Expense	120.41	-13.66	74.11	0.00	8.97	0.00	0.00	9.21	0.00	-0.44	0.00
Operating Cash Flow to Interest Expense	56.87	34.62	22.05	0.00	11.99	0.00	0.00	19.93	0.00	9.99	0.00
Operating Cash Flow Less CapEx to Interest Expense	55.13	32.67	20.59	0.00	1.55	0.00	0.00	19.01	0.00	8.17	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.49	0.41	0.01	0.39	0.78	0.31	0.37	0.32	0.27	0.27	0.27
Accounts Receivable Turnover	8.60	8.00	0.11	6.71	13.44	5.08	6.06	5.85	5.39	5.28	5.81
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	15.27	12.81	0.20	11.79	18.61	7.43	10.64	10.94	10.17	9.71	9.25
Accounts Payable Turnover	5.20	4.80	0.00	5.37	5.97	2.79	2.86	2.87	3.51	3.34	2.47
Days Sales Outstanding (DSO)	42.45	45.61	3,223.27	54.41	27.15	71.81	60.21	62.35	67.75	69.14	62.86
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	70.26	76.00	0.00	68.03	61.19	130.75	127.47	127.01	104.09	109.21	147.75
Cash Conversion Cycle (CCC)	-27.81	-30.39	3,223.27	-13.62	-34.04	-58.93	-67.27	-64.67	-36.34	-40.07	-84.89
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,665	5,010	2,783	3,376	4,249	9,539	7,823	8,286	8,739	9,082	8,244
Invested Capital Turnover	1.99	1.72	0.03	2.01	2.97	0.81	0.97	1.03	0.92	0.95	1.03
Increase / (Decrease) in Invested Capital	-2,664	2,345	-2,227	593	872	5,291	-1,717	463	453	344	-621
Enterprise Value (EV)	-2,048	7,282	7,634	6,015	6,075	7,993	9,977	6,580	8,337	16,276	18,130
Market Capitalization	15,568	14,240	17,576	12,656	11,871	8,674	13,364	9,728	11,657	10,538	12,009
Book Value per Share	$19.29	$20.72	$22.63	$18.78	$19.67	$20.42	$22.32	$23.02	$23.88	$23.92	$23.26
Tangible Book Value per Share	$15.61	$16.88	$18.63	$14.35	$13.72	$1.41	$4.09	$1.23	$2.03	$2.86	$3.29
Total Capital	15,071	14,975	16,289	12,278	12,373	17,497	19,814	22,659	24,859	36,028	36,425
Total Debt	2,515	2,385	1,411	1,026	1,002	6,086	7,070	8,834	11,285	21,463	22,237
Total Long-Term Debt	2,155	2,083	1,098	729	748	5,818	7,070	8,834	11,285	21,463	22,237
Net Debt	-18,330	-7,611	-12,200	-7,994	-7,260	-1,978	-4,907	-5,498	-4,977	3,681	4,010
Capital Expenditures (CapEx)	69	98	75	107	234	104	79	90	149	177	155
Debt-free, Cash-free Net Working Capital (DFCFNWC)	66	34	126	-321	-428	-2,075	-821	-766	-346	-2,889	-1,345
Debt-free Net Working Capital (DFNWC)	20,911	10,031	13,737	8,699	7,834	5,989	11,157	13,566	15,916	14,893	16,882
Net Working Capital (NWC)	20,551	9,729	13,423	8,401	7,580	5,721	11,157	13,566	15,916	14,893	16,882
Net Nonoperating Expense (NNE)	-0.56	-94	-200	-63	-132	24	-488	34	-181	-307	-127
Net Nonoperating Obligations (NNO)	-9,890	-7,579	-12,094	-7,875	-7,122	-1,872	-4,921	-5,539	-4,835	-5,483	-5,945
Total Depreciation and Amortization (D&A)	210	162	152	157	179	209	389	443	495	517	612
Debt-free, Cash-free Net Working Capital to Revenue	0.82%	0.51%	123.70%	-5.17%	-3.77%	-37.28%	-9.75%	-9.25%	-4.41%	-34.08%	-15.33%
Debt-free Net Working Capital to Revenue	263.07%	151.56%	13,506.88%	140.21%	69.09%	107.59%	132.41%	163.93%	202.76%	175.67%	192.48%
Net Working Capital to Revenue	258.54%	147.00%	13,198.82%	135.41%	66.85%	102.77%	132.41%	163.93%	202.76%	175.67%	192.48%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$3.29	$2.94	$3.01	$1.39	$2.35	$1.59	$3.58	$2.53	$1.72	$0.85	$0.91
Adjusted Weighted Average Basic Shares Outstanding	601.49M	568.81M	553.91M	513.09M	498.07M	504.59M	501.80M	499.56M	494.58M	523.67M	520.97M
Adjusted Diluted Earnings per Share	$3.29	$2.94	$3.01	$1.39	$2.35	$1.59	$3.57	$2.53	$1.72	$0.85	$0.91
Adjusted Weighted Average Diluted Shares Outstanding	601.49M	568.81M	553.91M	513.09M	498.07M	504.59M	501.80M	499.56M	494.58M	523.67M	520.97M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	601.49M	568.81M	553.91M	513.09M	498.07M	504.59M	501.80M	499.56M	494.58M	523.67M	520.97M
Normalized Net Operating Profit after Tax (NOPAT)	2,104	1,663	1,590	1,420	1,073	811	1,607	1,368	845	588	580
Normalized NOPAT Margin	26.47%	25.13%	1,563.17%	22.88%	9.46%	14.57%	19.07%	16.53%	10.77%	6.94%	6.61%
Pre Tax Income Margin	38.10%	37.77%	2,506.49%	35.70%	14.53%	18.29%	29.01%	20.90%	17.05%	9.71%	8.97%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	77.47	51.10	50.50	0.00	84.15	0.00	0.00	18.47	0.00	8.60	0.00
NOPAT to Interest Expense	53.13	33.33	30.87	0.00	47.91	0.00	0.00	13.93	0.00	3.10	0.00
EBIT Less CapEx to Interest Expense	75.74	49.14	49.04	0.00	73.71	0.00	0.00	17.55	0.00	6.78	0.00
NOPAT Less CapEx to Interest Expense	51.40	31.38	29.41	0.00	37.48	0.00	0.00	13.01	0.00	1.27	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	26.89%	23.93%	-25.73%	263.53%	-52.39%	15.72%	-7.72%	28.74%	-3.67%	68.43%	43.10%
Augmented Payout Ratio	77.25%	98.34%	17.04%	455.37%	10.19%	43.44%	2.22%	42.30%	21.32%	113.57%	86.88%

This table displays calculated financial ratios and metrics derived from Franklin Resources' official financial filings.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	520,763,448.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	520,763,448.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.52
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	2.43%	1.22%	11.71%	7.82%	11.33%	13.08%	-1.92%	-2.77%	5.99%	3.35%	8.69%
EBITDA Growth	13.83%	30.39%	-24.98%	-5.64%	-81.62%	4.41%	-44.64%	-20.07%	335.11%	17.28%	169.44%
EBIT Growth	18.28%	44.57%	-34.95%	-9.25%	-108.18%	-5.43%	-82.07%	-41.15%	650.43%	44.25%	943.79%
NOPAT Growth	-1.87%	11.80%	-49.99%	-26.75%	-138.12%	1.56%	-58.45%	-40.80%	160.01%	32.91%	535.62%
Net Income Growth	63.93%	51.84%	-35.81%	-5.92%	-116.52%	-9.44%	-93.38%	-49.70%	438.42%	49.42%	2,887.93%
EPS Growth	23.40%	56.25%	-39.47%	-27.27%	-134.48%	-42.00%	13.04%	-53.13%	205.00%	58.62%	88.46%
Operating Cash Flow Growth	-11.76%	1.72%	286.36%	-19.24%	-26.99%	42.36%	-136.68%	142.64%	-103.71%	-75.69%	44.91%
Free Cash Flow Firm Growth	3.00%	532.21%	-13.60%	-158.92%	-155.32%	-93.54%	26.40%	225.72%	395.44%	237.07%	365.01%
Invested Capital Growth	5.46%	-14.03%	6.81%	17.94%	3.93%	0.58%	4.37%	-16.04%	-7.00%	-1.60%	-7.50%
Revenue Q/Q Growth	0.87%	0.25%	8.12%	-1.39%	4.16%	1.83%	-6.23%	-2.25%	13.55%	-0.71%	-1.38%
EBITDA Q/Q Growth	18.47%	-15.14%	-19.01%	15.89%	-76.92%	381.98%	-57.06%	67.34%	9.73%	48.74%	-1.34%
EBIT Q/Q Growth	24.64%	-19.65%	-28.11%	26.04%	-111.23%	1,029.38%	-86.37%	313.58%	44.00%	77.66%	-1.35%
NOPAT Q/Q Growth	17.86%	-42.26%	-40.43%	80.69%	-161.33%	253.85%	-75.63%	157.45%	-37.84%	240.73%	16.56%
Net Income Q/Q Growth	36.74%	-23.99%	-31.60%	32.34%	-124.01%	516.70%	-95.00%	906.03%	61.53%	83.98%	-0.06%
EPS Q/Q Growth	31.82%	-13.79%	-54.00%	39.13%	-162.50%	245.00%	-10.34%	-42.31%	40.00%	119.05%	6.52%
Operating Cash Flow Q/Q Growth	16.84%	-132.95%	154.23%	286.82%	5.64%	-126.01%	65.50%	2,659.08%	-101.61%	-1,132.37%	89.18%
Free Cash Flow Firm Q/Q Growth	-107.41%	1,055.00%	-130.37%	-174.15%	67.89%	124.16%	-445.97%	568.32%	-61.09%	-46.53%	172.01%
Invested Capital Q/Q Growth	-0.16%	6.57%	1.94%	8.74%	-12.02%	3.13%	5.78%	-12.52%	-4.88%	11.79%	-0.56%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	58.40%	51.37%	52.24%	57.90%	57.45%	55.97%	56.43%	56.34%	57.09%	55.71%	57.96%
EBITDA Margin	27.06%	22.91%	17.16%	20.17%	4.47%	21.15%	9.69%	16.58%	16.02%	24.00%	24.01%
Operating Margin	17.03%	10.37%	6.01%	10.48%	-6.82%	9.73%	6.90%	7.47%	3.64%	12.08%	14.09%
EBIT Margin	20.75%	16.63%	11.06%	14.14%	-1.52%	13.91%	2.02%	8.56%	10.85%	19.41%	19.42%
Profit (Net Income) Margin	16.98%	12.87%	8.14%	10.93%	-2.52%	10.31%	0.55%	5.65%	8.04%	14.90%	15.10%
Tax Burden Percent	81.80%	77.39%	73.62%	77.31%	120.56%	74.11%	27.17%	66.08%	74.13%	76.76%	77.77%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	137.09%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	18.20%	22.61%	26.38%	22.69%	0.00%	25.89%	72.83%	33.92%	25.88%	23.24%	22.23%
Return on Invested Capital (ROIC)	12.85%	6.27%	3.90%	7.01%	-4.54%	6.74%	1.68%	4.49%	2.77%	8.83%	10.37%
ROIC Less NNEP Spread (ROIC-NNEP)	11.68%	3.89%	2.27%	5.74%	-5.50%	5.40%	2.21%	4.20%	0.62%	6.47%	8.60%
Return on Net Nonoperating Assets (RNNOA)	-4.42%	-1.12%	-0.79%	-1.90%	2.02%	-1.93%	-0.78%	-1.48%	-0.25%	-2.43%	-3.09%
Return on Equity (ROE)	8.43%	5.16%	3.10%	5.12%	-2.52%	4.82%	0.90%	3.01%	2.52%	6.40%	7.28%
Cash Return on Invested Capital (CROIC)	4.61%	23.64%	1.88%	-9.00%	-0.48%	2.68%	-1.18%	19.87%	12.18%	6.76%	14.45%
Operating Return on Assets (OROA)	5.60%	4.42%	2.89%	3.68%	-0.41%	3.91%	0.54%	2.25%	2.94%	5.29%	5.31%
Return on Assets (ROA)	4.58%	3.42%	2.13%	2.84%	-0.68%	2.89%	0.15%	1.48%	2.18%	4.06%	4.13%
Return on Common Equity (ROCE)	7.19%	4.32%	2.71%	4.46%	-2.19%	4.05%	0.76%	2.57%	2.15%	5.29%	5.98%
Return on Equity Simple (ROE_SIMPLE)	0.00%	9.28%	8.50%	8.38%	0.00%	4.68%	3.40%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	277	160	95	172	-105	162	40	102	63	216	251
NOPAT Margin	13.93%	8.03%	4.42%	8.10%	-4.77%	7.21%	1.87%	4.93%	2.70%	9.27%	10.96%
Net Nonoperating Expense Percent (NNEP)	1.17%	2.38%	1.63%	1.27%	0.97%	1.35%	-0.53%	0.29%	2.15%	2.35%	1.78%
Return On Investment Capital (ROIC_SIMPLE)	-	0.68%	-	-	-	0.48%	0.11%	0.29%	0.18%	0.58%	0.63%
Cost of Revenue to Revenue	41.60%	48.63%	47.76%	42.10%	42.55%	44.03%	43.57%	43.66%	42.91%	44.29%	42.04%
SG&A Expenses to Revenue	13.40%	13.21%	16.27%	15.86%	16.89%	15.15%	16.17%	16.78%	16.60%	15.15%	15.04%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	41.36%	41.00%	46.23%	47.42%	64.27%	46.24%	49.53%	48.88%	53.45%	43.63%	43.88%
Earnings before Interest and Taxes (EBIT)	412	331	238	300	-34	313	43	177	254	452	446
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	538	456	369	428	99	476	205	342	376	559	551
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.98	1.15	1.15	0.91	0.84	0.85	0.82	1.03	0.99	1.03	1.01
Price to Tangible Book Value (P/TBV)	11.53	11.83	11.12	8.38	7.05	6.68	6.31	8.08	7.04	7.37	7.08
Price to Revenue (P/Rev)	1.49	1.75	1.83	1.42	1.24	1.22	1.16	1.45	1.37	1.41	1.36
Price to Earnings (P/E)	13.20	14.23	16.47	13.92	22.67	28.18	25.02	38.85	22.88	20.18	16.77
Dividend Yield	5.14%	4.31%	4.34%	5.50%	6.15%	6.16%	6.55%	5.32%	5.53%	5.40%	5.50%
Earnings Yield	7.57%	7.03%	6.07%	7.19%	4.41%	3.55%	4.00%	2.57%	4.37%	4.96%	5.96%
Enterprise Value to Invested Capital (EV/IC)	0.95	1.16	2.15	0.95	1.79	1.76	1.72	2.14	2.20	2.21	2.34
Enterprise Value to Revenue (EV/Rev)	1.06	1.38	2.52	1.18	1.92	1.88	1.96	2.15	2.07	2.30	2.37
Enterprise Value to EBITDA (EV/EBITDA)	4.55	5.58	10.78	5.23	12.04	11.99	14.12	16.57	12.96	13.77	11.71
Enterprise Value to EBIT (EV/EBIT)	6.23	7.52	14.70	7.19	19.48	20.12	27.40	37.27	23.04	22.03	16.11
Enterprise Value to NOPAT (EV/NOPAT)	9.87	12.56	26.26	13.73	54.07	54.03	56.74	80.62	43.02	42.69	33.74
Enterprise Value to Operating Cash Flow (EV/OCF)	7.65	9.90	15.10	7.96	16.76	15.26	19.13	11.30	17.01	21.32	21.87
Enterprise Value to Free Cash Flow (EV/FCFF)	21.24	4.55	118.35	0.00	0.00	65.62	0.00	9.85	17.40	32.49	15.54
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.83	0.79	1.44	0.20	1.47	1.36	1.43	1.51	1.57	1.67	1.82
Long-Term Debt to Equity	0.83	0.79	1.44	0.20	1.47	1.36	1.43	1.51	1.57	1.67	1.82
Financial Leverage	-0.38	-0.29	-0.35	-0.33	-0.37	-0.36	-0.35	-0.35	-0.41	-0.38	-0.36
Leverage Ratio	2.12	2.10	2.20	2.23	2.22	2.14	2.16	2.24	2.25	2.18	2.22
Compound Leverage Factor	2.12	2.10	2.20	2.23	3.05	2.14	2.16	2.24	2.25	2.18	2.22
Debt to Total Capital	45.40%	44.25%	58.95%	16.92%	59.57%	57.66%	58.88%	60.19%	61.05%	62.59%	64.50%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	45.40%	44.25%	58.95%	16.92%	59.57%	57.66%	58.88%	60.19%	61.05%	62.59%	64.50%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	6.67%	6.97%	5.46%	11.32%	5.71%	7.94%	7.67%	6.15%	5.80%	5.87%	6.05%
Common Equity to Total Capital	47.94%	48.78%	35.59%	71.75%	34.72%	34.40%	33.45%	33.66%	33.16%	31.54%	29.44%
Debt to EBITDA	6.16	5.61	11.25	1.62	15.87	15.22	18.00	19.45	15.90	16.26	14.54
Net Debt to EBITDA	-2.71	-2.41	1.93	-2.15	2.72	2.15	3.40	3.41	2.87	3.84	3.62
Long-Term Debt to EBITDA	6.16	5.61	11.25	1.62	15.87	15.22	18.00	19.45	15.90	16.26	14.54
Debt to NOPAT	13.35	12.63	27.39	4.27	71.31	68.58	72.32	94.64	52.76	50.42	41.87
Net Debt to NOPAT	-5.89	-5.42	4.70	-5.65	12.23	9.69	13.67	16.58	9.51	11.90	10.42
Long-Term Debt to NOPAT	13.35	12.63	27.39	4.27	71.31	68.58	72.32	94.64	52.76	50.42	41.87
Altman Z-Score	1.94	1.99	1.89	1.46	1.68	1.76	1.79	1.81	1.82	1.87	1.84
Noncontrolling Interest Sharing Ratio	14.63%	16.22%	12.56%	12.89%	13.20%	15.80%	16.01%	14.53%	14.49%	17.27%	17.87%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	9.55	6.97	7.32	9.43	4.25	4.89	8.55	6.49	6.85	8.17	9.45
Quick Ratio	9.55	6.97	7.32	9.43	4.25	4.89	8.55	6.49	6.85	8.17	9.45
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-176	1,679	-510	-1,398	-449	108	-375	1,758	684	366	995
Operating Cash Flow to CapEx	2,800.37%	-1,291.79%	327.58%	1,146.20%	799.71%	-202.23%	-133.60%	9,157.86%	-66.35%	0.00%	-575.00%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.27	0.27	0.26	0.26	0.27	0.28	0.27	0.26	0.27	0.27	0.27
Accounts Receivable Turnover	5.39	5.15	5.39	5.45	5.28	5.30	5.35	5.25	5.81	5.94	5.73
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	10.17	10.05	9.82	9.65	9.71	9.79	9.22	9.19	9.25	9.28	9.55
Accounts Payable Turnover	3.51	3.17	3.19	4.47	3.34	3.15	3.07	3.12	2.47	2.90	3.24
Days Sales Outstanding (DSO)	67.75	70.82	67.77	67.02	69.14	68.90	68.28	69.59	62.86	61.50	63.73
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	104.09	115.29	114.43	81.57	109.21	115.88	118.81	117.15	147.75	125.94	112.54
Cash Conversion Cycle (CCC)	-36.34	-44.46	-46.66	-14.55	-40.07	-46.99	-50.53	-47.56	-84.89	-64.44	-48.81
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	8,739	9,312	9,493	10,323	9,082	9,366	9,908	8,667	8,244	9,216	9,165
Invested Capital Turnover	0.92	0.78	0.88	0.87	0.95	0.94	0.90	0.91	1.03	0.95	0.95
Increase / (Decrease) in Invested Capital	453	-1,520	605	1,570	344	54	415	-1,656	-621	-150	-743
Enterprise Value (EV)	8,337	10,827	20,428	9,768	16,276	16,454	17,054	18,588	18,130	20,390	21,403
Market Capitalization	11,657	13,786	14,802	11,758	10,538	10,625	10,114	12,534	12,009	12,446	12,300
Book Value per Share	$23.88	$24.27	$24.42	$24.46	$23.92	$23.80	$23.50	$23.22	$23.26	$23.29	$23.28
Tangible Book Value per Share	$2.03	$2.36	$2.53	$2.67	$2.86	$3.04	$3.05	$2.95	$3.29	$3.24	$3.34
Total Capital	24,859	24,603	36,139	17,936	36,028	36,226	36,914	36,257	36,425	38,475	41,175
Total Debt	11,285	10,887	21,303	3,035	21,463	20,886	21,736	21,822	22,237	24,083	26,560
Total Long-Term Debt	11,285	10,887	21,303	3,035	21,463	20,886	21,736	21,822	22,237	24,083	26,560
Net Debt	-4,977	-4,674	3,652	-4,022	3,681	2,951	4,108	3,824	4,010	5,686	6,611
Capital Expenditures (CapEx)	27	20	42	46	70	72	38	14	31	-9.30	4.80
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-346	-723	-999	656	-2,889	-2,450	-631	-1,318	-1,345	-983	-739
Debt-free Net Working Capital (DFNWC)	15,916	14,837	16,652	7,712	14,893	15,485	16,997	16,680	16,882	17,413	19,210
Net Working Capital (NWC)	15,916	14,837	16,652	7,712	14,893	15,485	16,997	16,680	16,882	17,413	19,210
Net Nonoperating Expense (NNE)	-60	-96	-80	-60	-50	-70	28	-15	-125	-131	-95
Net Nonoperating Obligations (NNO)	-4,835	-4,404	-5,343	-4,579	-5,483	-5,974	-5,270	-5,768	-5,945	-5,176	-5,451
Total Depreciation and Amortization (D&A)	125	125	131	128	133	163	162	166	121	107	105
Debt-free, Cash-free Net Working Capital to Revenue	-4.41%	-9.18%	-12.34%	7.95%	-34.08%	-28.04%	-7.26%	-15.25%	-15.33%	-11.12%	-8.18%
Debt-free Net Working Capital to Revenue	202.76%	188.45%	205.60%	93.45%	175.67%	177.20%	195.43%	193.10%	192.48%	196.84%	212.74%
Net Working Capital to Revenue	202.76%	188.45%	205.60%	93.45%	175.67%	177.20%	195.43%	193.10%	192.48%	196.84%	212.74%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.58	$0.50	$0.23	$0.32	($0.20)	$0.29	$0.26	$0.15	$0.21	$0.46	$0.49
Adjusted Weighted Average Basic Shares Outstanding	494.58M	526.56M	526.09M	523.00M	523.67M	525.40M	525.52M	519.20M	520.97M	520.76M	519.64M
Adjusted Diluted Earnings per Share	$0.58	$0.50	$0.23	$0.32	($0.20)	$0.29	$0.26	$0.15	$0.21	$0.46	$0.49
Adjusted Weighted Average Diluted Shares Outstanding	494.58M	526.56M	526.09M	523.00M	523.67M	525.40M	525.52M	519.20M	520.97M	520.76M	519.64M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	494.58M	526.56M	526.09M	523.00M	523.67M	525.40M	525.52M	519.20M	520.97M	520.76M	519.64M
Normalized Net Operating Profit after Tax (NOPAT)	277	160	95	172	-105	162	119	102	63	216	251
Normalized NOPAT Margin	13.93%	8.03%	4.42%	8.10%	-4.77%	7.21%	5.64%	4.93%	2.70%	9.27%	10.96%
Pre Tax Income Margin	20.75%	16.63%	11.06%	14.14%	-2.09%	13.91%	2.02%	8.56%	10.85%	19.41%	19.42%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-3.67%	18.26%	49.77%	39.11%	68.43%	50.09%	84.31%	134.20%	43.10%	43.32%	-21.52%
Augmented Payout Ratio	21.32%	45.29%	78.03%	72.33%	113.57%	88.02%	136.62%	224.65%	86.88%	84.98%	10.88%

Financials Breakdown Chart

Key Financial Trends

Here are the key trends for Franklin Resources (NYSE: BEN) drawn from the last four years of quarterly cash flow, income statement, and balance sheet data provided. Items are grouped to highlight positive, neutral, and negative signals for retail investors.

Profitability: In Q1 2026, Consolidated Net Income rose to $346.8 million, up from prior quarters, signaling improving quarterly profitability.
Revenue and gross margin: Q1 2026 revenue was $2.327 billion with Total Gross Profit of $1.296 billion, implying a gross margin near 56% for the quarter.
Liquidity on balance sheet: As of Q1 2026, Cash & Equivalents were $3.484B and Short-Term Investments were $14.915B, with Total Current Assets around $19.84B, indicating strong liquidity.
Dividend support: Q1 2026 cash dividends per share were $0.33, consistent with a steady payout policy for shareholders.
Financing activity support: Net Cash From Financing Activities in Q1 2026 was a positive $487.4 million, suggesting financing inflows contributed to liquidity.
Earnings per share context: Q1 2026 diluted EPS was $0.46 on 520.8 million shares, consistent with quarterly profitability levels.
Asset mix considerations: Noncurrent assets include Goodwill (~$6.29B) and Intangible Assets (~$4.15B), a sizable portion that could be subject to impairment risk if conditions worsen.
Cash flow variability: Operating cash flow has been choppy across quarters, with a notable peak in Q3 2025 ($1.28B from continuing ops) but a negative reading in Q1 2026 (-$255.1M from continuing ops), indicating variability in cash generation.
Debt load: Long-Term Debt stood around $24.1B in Q1 2026, contributing to a high leverage profile.
Cash burn in select periods: Net Change in Cash & Equivalents was negative in several periods (e.g., -$89.1M in Q1 2026 and larger negatives in some other quarters), signaling recurring cash outflows despite positive net income in some quarters.

05/09/26 12:31 AM ETAI Generated. May Contain Errors.

Franklin Resources Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Franklin Resources' fiscal year ends in September. Their fiscal year 2025 ended on September 30, 2025.

Franklin Resources' net income appears to be on a downward trend, with a most recent value of $548.90 million in 2025, falling from $2.10 billion in 2015. The previous period was $607.90 million in 2024. View Franklin Resources' forecast to see where analysts expect Franklin Resources to go next.

Franklin Resources' total operating income in 2025 was $604.10 million, based on the following breakdown:

Total Gross Profit: $4.95 billion
Total Operating Expenses: $4.35 billion

Over the last 10 years, Franklin Resources' total revenue changed from $7.95 billion in 2015 to $8.77 billion in 2025, a change of 10.3%.

Franklin Resources' total liabilities were at $18.18 billion at the end of 2025, a 1.6% increase from 2024, and a 380.9% increase since 2015.

In the past 10 years, Franklin Resources' cash and equivalents has ranged from $3.57 billion in 2025 to $16.74 billion in 2015, and is currently $3.57 billion as of their latest financial filing in 2025.

Over the last 10 years, Franklin Resources' book value per share changed from 19.29 in 2015 to 23.26 in 2025, a change of 20.6%.

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Financial statements for NYSE:BEN last updated on 5/2/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Franklin Resources (BEN) Financials

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Franklin Resources (BEN) Financials

Annual Income Statements for Franklin Resources

Quarterly Income Statements for Franklin Resources

Annual Cash Flow Statements for Franklin Resources

Quarterly Cash Flow Statements for Franklin Resources

Annual Balance Sheets for Franklin Resources

Quarterly Balance Sheets for Franklin Resources

Annual Metrics And Ratios for Franklin Resources

Quarterly Metrics And Ratios for Franklin Resources

Financials Breakdown Chart

Key Financial Trends

Franklin Resources Financials - Frequently Asked Questions

When does Franklin Resources' financial year end?

How has Franklin Resources' net income changed over the last 10 years?

What is Franklin Resources' operating income?

How has Franklin Resources' revenue changed over the last 10 years?

How much debt does Franklin Resources have?

How much cash does Franklin Resources have?

How has Franklin Resources' book value per share changed over the last 10 years?

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