Franklin Templeton, Inc. BEN

FinancialsInvestment Banking & Investment ServicesUnited States of America

Last close 31.97 USD on Nov 2, 2026, +38.4% year to date

Quant rating

Quant rating B Rank 179 of 799 in Financials

Growth C 426 of 799
Valuation C 429 of 799
Quality A 98 of 799
Revisions B 139 of 799
Momentum C 435 of 799

Wall Street consensus Hold (2.86)Average target 35.59 USD +11.3%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 16.2B
Enterprise value: 30.9B
52-week range: 21.11 – 36.25
3-year range: 16.66 – 36.25
Dividend yield: 4.17%
Beta (5 years): 1.60
Shares outstanding: 508M
Next earnings: Nov 6, 2026

About the company

Franklin Templeton, Inc., formerly Franklin Resources, Inc., is a global investment management company with subsidiaries operating as Franklin Templeton and serving clients in over 150 countries. Through its specialist investment managers, it offers specialization on a global scale, bringing capabilities in equity, fixed income, alternatives and multi-asset solutions. It provides its investment management and related services to retail, institutional and high-net-worth investors in jurisdictions worldwide. Its investment products include sponsored funds, as well as institutional and high-net-worth separate accounts, retail separately managed account programs, sub-advised products, and other investment vehicles. Its funds include registered funds (including exchange-traded funds) and unregistered funds. It offers its services and products under its various distinct brand names, including Alcentra, Benefit Street Partners, Brandywine Global Investment Management, Canvas, and others.

Growth and profitability fiscal year ends September 30

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	8,771	8,478	7,849	8,275	8,426	–
Revenue growth	3.5%	8.0%	−5.1%	−1.8%	51.4%	9.5%
EPS (basic, normalized)	2.22	2.39	2.60	3.63	3.74	–
EPS growth	−7.1%	−8.1%	−28.4%	−2.9%	–	–
Gross margin	36.6%	37.1%	39.2%	40.4%	39.7%	38.6%
Net margin	5.4%	5.1%	10.8%	15.0%	20.8%	11.4%
ROE	9.4%	10.4%	17.6%	16.4%	17.9%	14.3%

Balance sheet, last quarter
Cash & short-term investments (mil)	3,761
Current ratio	–
Long-term debt (mil)	15,735
Net debt (mil)	14,637
Total equity (mil)	11,738
Net debt / equity	1.25x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			Book value per share			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	P/B	Mean est.	Growth	P/E
2025 actual	8,771	+3.5%	3.5x	23.18	−4.7%	1.4x	2.22	−7.1%	14.4x
2026	7,180	−18.1%	4.3x	23.59	+1.8%	1.4x	2.90	+30.6%	11.0x
2027	7,751	+8.0%	4.0x	24.57	+4.1%	1.3x	3.16	+8.9%	10.1x
2028	8,583	+10.7%	3.6x	24.91	+1.4%	1.3x	3.55	+12.5%	9.0x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	7,180	0.0%	+0.1%	+2.0%	2.90	+0.2%	+1.1%	+5.7%
2027	7,751	−0.3%	−0.2%	+3.4%	3.16	−0.7%	+0.3%	+6.8%
2028	8,583	+3.5%	+3.6%	+7.1%	3.55	+1.7%	+3.9%	+9.8%

Earnings surprises EPS beat in 4 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	1,665	1,654	1,716	1,683	1,610	1,593	1,815	1,747	1,752	1,817
Sales mean (mil)	1,665	1,664	1,693	1,739	1,594	1,603	1,719	1,713	1,709	1,762
Surprise	0.0%	−0.6%	+1.4%	−3.2%	+1.0%	−0.6%	+5.6%	+2.0%	+2.5%	+3.1%
EPS reported	0.56	0.60	0.59	0.59	0.47	0.49	0.67	0.70	0.71	0.72
EPS mean	0.57	0.57	0.60	0.53	0.47	0.49	0.58	0.55	0.55	0.67
Surprise	−2.1%	+5.3%	−2.3%	+11.8%	−0.6%	−0.8%	+16.2%	+26.5%	+29.0%	+7.2%

Peer comparison Investment Banking & Investment Services

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
BEN Franklin Templeton, Inc.	16.2B	8.29x	5.4%	1.38x	11.0x	10.1x	13.1x	11.8x
MS Morgan Stanley	290.7B	–	13.6%	2.51x	14.4x	13.6x	–	–
GS The Goldman Sachs Group, Inc.	261.7B	–	13.0%	2.09x	12.6x	12.1x	–	–
BLK BlackRock, Inc.	189.3B	–	22.9%	3.14x	20.1x	17.9x	14.6x	12.9x
SCHW The Charles Schwab Corporation	153.4B	–	30.4%	3.06x	13.8x	11.3x	24.3x	20.7x
IBKR Interactive Brokers Group Inc	127.5B	9.69x	9.4%	5.46x	27.7x	22.5x	29.4x	24.1x
Mean		8.99x	15.8%	2.94x	16.6x	14.6x	20.4x	17.4x
Median		8.99x	13.3%	2.78x	14.1x	12.8x	19.5x	16.8x

Technical analysis

1M−2.6%
3M−4.6%
1Y+48.3%
3Y+59.1%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Franklin Templeton, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	8,771	8,478	7,849	8,275	8,426	5,566
Cost of revenue	5,560	5,333	4,772	4,935	5,077	3,577
Gross profit	3,211	3,145	3,077	3,340	3,348	1,990
Selling, general & administrative expenses	1,704	1,649	1,299	1,284	1,241	887
Research & development	–	–	–	–	–	–
Depreciation/amortization	406	338	341	282	232	54.0
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	496	750	335	–	–	–
Other operating expenses	0	0	0	0	0	0
Operating income	604	408	1,102	1,774	1,875	1,049
Net interest income (expense)	176	389	195	−55.7	563	−37.2
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	6.8	27.0	40.6	11.2	5.8	6.2
Net income before taxes	787	823	1,338	1,729	2,444	1,018
Provision for taxes	238	215	312	396	350	231
Minority interest	−24.0	−143	−143	−41.3	−263	11.8
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	525	465	883	1,292	1,831	799
Extraordinary items	–	–	–	–	–	–
Net income	525	465	883	1,292	1,831	799
EBIT, normalized	1,231	1,341	1,570	2,013	2,100	1,440
EBITDA, normalized	1,779	1,809	2,020	2,403	2,224	1,589
Basic EPS, normalized	2.22	2.39	2.60	3.63	3.74	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Franklin Templeton, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	3,574	4,409	4,402	4,782	4,647	3,990
Receivables	1,542	1,479	1,348	1,265	1,428	1,233
Total inventory	–	–	–	–	–	–
Prepaid expenses	–	–	–	–	–	–
Other current assets	–	–	–	–	–	–
Total current assets	–	–	–	–	–	–
Property, plant & equipment	1,713	1,770	1,206	1,208	1,218	1,349
Goodwill	6,206	6,211	6,004	5,779	4,458	4,501
Intangibles	4,166	4,802	4,902	5,082	4,710	4,914
Long-term investments	14,653	13,373	11,859	9,549	7,330	5,378
Note receivable	–	–	–	–	–	–
Other long-term assets	5,630	6,308	6,150	6,443	6,452	5,542
Total assets	32,368	32,464	30,121	28,061	24,168	21,684
Liabilities
Accounts payable	–	–	–	–	–	–
Payable/accrued	1,678	1,413	880	1,113	1,037	1,038
Accrued expenses	2,761	2,766	2,133	1,993	1,698	1,685
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	476	0	283	–	–	–
Other current liabilities	–	–	–	–	–	–
Total current liabilities	–	–	–	–	–	–
Long-term debt	11,823	12,122	11,001	8,834	7,070	5,818
Minority interest	2,111	2,057	1,657	2,350	1,520	1,296
Other liabilities	6,356	5,778	5,546	5,402	4,354	4,456
Total liabilities	20,290	19,956	18,204	16,586	12,945	11,570
Shareholders' equity
Preferred stock	0	–	0	0	0	0
Common stock	52.1	52.4	49.6	50.0	50.2	49.5
Additional paid-in capital	957	948	–	–	–	–
Retained earnings (accumulated deficit)	11,516	11,928	12,377	12,046	11,551	10,473
Treasury stock	–	–	–	–	–	–
Other equity	−447	−420	−509	−621	−378	−408
Total equity	12,078	12,508	11,917	11,475	11,223	10,114
Total liabilities & shareholders' equity	32,368	32,464	30,121	28,061	24,168	21,684

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Franklin Templeton, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	549	608	1,026	1,333	2,095	787
Depreciation, depletion & amortization	532	455	445	378	311	128
Deferred taxes	−47.2	−125	41.5	98.0	3.7	−7.1
Non-cash items	651	699	341	432	−280	380
Changes in working capital	−618	−666	−765	−285	−883	−205
Cash from operations	1,066	971	1,089	1,957	1,245	1,083
Investing activities
Capital expenditures	−154	−177	−149	−90.3	−79.3	−104
Other investing cash flows	−2,188	−2,247	−3,462	−3,239	−2,537	−3,958
Cash from investing	−2,343	−2,424	−3,610	−3,329	−2,616	−4,062
Financing activities
Financing cash flow items	523	142	812	185	710	409
Cash dividends paid	−684	−656	−607	−583	−560	−533
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	613	1,930	1,902	1,983	1,880	859
Cash from financing	452	1,416	2,107	1,585	2,030	734
Foreign exchange effects	−10.8	43.3	34.3	−77.2	−2.2	27.4
Net change in cash	−835	6.5	−380	135	657	−2,217
Free cash flow	912	794	940	1,866	1,166	980

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.