Reading the tape
NYSE: BEN
Franklin Resources, Inc.
Financial Services · Asset Management
Market Cap
$16.13B
52w High
$31.44
52w Low
$21.06
P/E
19.79
Volume
2.33M
Outstanding Shares
519.64M
Price vs Fundamentals
Why The Stock Is Moving
Optimism is getting priced inHigh confidence
1Y Price: 48.99%Revenue (TTM): 3.82%FCF (TTM): 39.57%P/FCF: 89th pct
What changed
The stock rose 48.99% over the last year. Revenue grew 3.82% over the trailing twelve months. Operating margin moved from 5.02% to 9.34%. Free cash flow grew 39.57% over the trailing twelve months.
What the market seems to be pricing
The stock is trading toward the richer end of its historical P/FCF range (89th percentile) while business metrics are improving. More of the upside is already embedded in the multiple now.
What would invalidate this read
Operating margin is at 9.34% — continued expansion would be needed to justify the premium. Revenue growth of 3.82% is encouraging, but any deceleration puts the stretched multiple at risk. This read changes if revenue, margins, and cash flow continue to improve faster than expected — in that case the richer multiple could still prove conservative.
Company profile
Franklin Resources, Inc. is a publicly owned asset management holding company.
CEOJennifer Johnson
SectorFinancial Services
IndustryAsset Management
Employees10,000
IPO dateSep 23, 1983
Valuation
Forward P/E—
EV/EBITDA15.30
Enterprise value$21.63B
Price / Book1.34
Stock splits
Jul 26, 2013↑ Forward
Every 1 shares became 3
Jan 16, 1998↑ Forward
Every 1 shares became 2
Jan 15, 1997↑ Forward
Every 2 shares became 3
Apr 15, 1992↑ Forward
Every 1 shares became 2
Jan 16, 1990↑ Forward
Every 2 shares became 3
Jul 15, 1987↑ Forward
Every 4 shares became 5
Oct 27, 1986↑ Forward
Every 2 shares became 3
Jan 24, 1986↑ Forward
Every 1 shares became 2
Profitability & growth
Standard profitability metrics can be misleading for financial/insurance companies. GAAP requires unrealized investment gains/losses in net income (affecting ROE), and margins are blended across diverse business segments.
Revenue growth8.69%
Gross margin73.8%▲0.30%vs FY2024
Operating margin9.34%▲43.26%vs FY2024
ROE4.35%▲16.95%vs FY2024
Analyst consensus
RatingHold
Target price$31.00▼0.16%
6
Buy
16
Hold
5
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
Aug 7, 2026
Q3 FY26 · EPS est $0.62 · Revenue est $1.73B
View
Dividends
$1.30/shareQuarterlyAdequateBEN pays a dividend with a 4.19% dividend yield, growing at 3.43% annually, covered 1.3× by free cash flow.
Dividend Yield
4.19%
Annual Div / Share
$1.30
5yr CAGR
+3.43%
Doubles every ~20.6yr
Payout Ratio
84.32%
Adequate
Dividend Growth Rate
3yr CAGR
+3.31%
5yr CAGR
+3.43%
10yr CAGR
+7.43%
Dividend Safety
3/10Adequate
Dividend History
Annual dividends paid per share
YearAnnual DivYoY
2025$1.29-17.3%
2024$1.56+73.3%
2023$0.90-23.1%
2022$1.17+3.5%
2021$1.13+3.7%
2020$1.09+3.8%
2019$1.05-73.4%
Income Projection
Invest
$
Growth rate:
Reinvest dividends
Today
$42/yr
$3/mo
In 5 yrs
$50/yr+18%
$4/mo
In 10 yrs
$59/yr+40%
$5/mo
| Today | In 5 yrs | In 10 yrs |
|---|---|---|
$42/yr $3/mo | $50/yr+18% $4/mo | $59/yr+40% $5/mo |
Yield-on-cost grows from 4.19% → 5.86% over 10yr
Analysis
Dividend Strengths
No strong strength signal stands out from the latest period pair.
Risks to Watch
High payout ratio
With 84.32% of earnings paid as dividends, there is limited retained earnings for reinvestment — and a dividend cut becomes more likely if earnings decline.