Cash flow Franklin Resources, Inc.

Equities

BEN

US3546131018

Investment Management & Fund Operators

Real-time Estimate Cboe BZX Other stock markets 18:21:41 21/01/2026 GMT			5-day change	1st Jan Change
25.16 ^USD	+1.31%		-2.01%	+5.13%

01-20	JPMorgan Adjusts Price Target on Franklin Resources to $26 From $25, Maintains Neutral Rating	MT
01-15	Barclays Adjusts Price Target on Franklin Resources to $25 From $22, Maintains Underweight Rating	MT

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Published financial data: FRANKLIN RESOURCES, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: September	2021	2022	2023	2024	2025
Revenues	8.39B	8.22B	7.81B	8.43B	8.72B
Other Revenues, Total	37.2M	50.5M	40.1M	45.5M	49.7M
Total Revenues	8.43B	8.28B	7.85B	8.48B	8.77B
Cost of Goods Sold, Total	4.89B	4.76B	4.71B	5.24B	5.49B
Gross Profit	3.54B	3.52B	3.14B	3.24B	3.28B
Selling General & Admin Expenses, Total	1.23B	1.25B	1.3B	1.65B	1.7B
Amortization of Goodwill and Intangible Assets - (IS)	232M	282M	341M	338M	406M
Other Operating Expenses, Total	1.47B	1.54B	1.64B	1.99B	2.11B
Operating Income	2.07B	1.98B	1.5B	1.25B	1.17B
Interest Expense, Total	-85.4M	-98.2M	-124M	-97.2M	-94.9M
Interest And Investment Income	439M	37.9M	276M	327M	250M
Net Interest Expenses	353M	-60.3M	152M	230M	155M
Income (Loss) On Equity Invest.	154M	36.2M	123M	138M	78M
Currency Exchange Gains (Loss)	-11.9M	40.6M	-26.7M	-19.9M	-11.6M
Other Non Operating Income (Expenses)	13.8M	51.8M	44.2M	43.4M	42.6M
EBT, Excl. Unusual Items	2.58B	2.05B	1.79B	1.64B	1.43B
Merger & Related Restructuring Charges	-193M	-201M	-398M	-456M	-339M
Impairment of Goodwill	-	-	-	-	-
Gain (Loss) On Sale Of Investments	59.7M	-113M	20.8M	25M	-81.2M
Asset Writedown	-	-3.2M	-	-389M	-227M
Legal Settlements	-	-	-	-	-
Other Unusual Items	-4.1M	-1.1M	-	-	-
EBT, Incl. Unusual Items	2.44B	1.73B	1.42B	823M	787M
Income Tax Expense	350M	396M	312M	215M	238M
Earnings From Continuing Operations	2.09B	1.33B	1.1B	608M	549M
Net Income to Company	2.09B	1.33B	1.1B	608M	549M
Minority Interest	-263M	-41.3M	-221M	-143M	-24M
Net Income - (IS)	1.83B	1.29B	883M	465M	525M
Preferred Dividend and Other Adjustments	77.7M	54.1M	37.7M	32.6M	53.2M
Net Income to Common Incl Extra Items	1.75B	1.24B	845M	432M	472M
Net Income to Common Excl. Extra Items	1.75B	1.24B	845M	432M	472M
Per Share Items
Net EPS - Basic	3.58	2.53	1.72	0.85	0.91
Basic EPS - Continuing Operations	3.58	2.53	1.72	0.85	0.91
Basic Weighted Average Shares Outstanding	490M	489M	490M	510M	517M
Net EPS - Diluted	3.57	2.53	1.72	0.85	0.91
Diluted EPS - Continuing Operations	3.57	2.53	1.72	0.85	0.91
Diluted Weighted Average Shares Outstanding	491M	489M	491M	510M	517M
Normalized Basic EPS	2.76	2.53	1.84	1.74	1.69
Normalized Diluted EPS	2.75	2.53	1.83	1.73	1.69
Dividend Per Share	1.12	1.16	1.2	1.24	1.28
Payout Ratio	30.56	45.14	68.79	141.22	130.25
American Depositary Receipts Ratio (ADR)	1	1	1	1	1
Supplemental Items
EBITDA	2.38B	2.36B	1.95B	1.71B	1.7B
EBITA	2.3B	2.26B	1.84B	1.59B	1.58B
EBIT	2.07B	1.98B	1.5B	1.25B	1.17B
EBITDAR	2.58B	2.55B	2.15B	2.02B	1.98B
Total Revenues (As Reported)	8.43B	8.28B	7.85B	8.48B	8.77B
Effective Tax Rate - (Ratio)	14.3	22.91	22.06	26.15	30.24
Current Domestic Taxes	277M	220M	204M	266M	192M
Current Foreign Taxes	68.9M	78.6M	67.1M	73.9M	93M
Total Current Taxes	346M	298M	271M	340M	285M
Total Deferred Taxes	3.7M	98M	41.5M	-125M	-47.2M
Normalized Net Income	1.35B	1.24B	900M	884M	872M
Supplemental Operating Expense Items
General and Administrative Expenses	1.02B	1.04B	1.07B	1.32B	1.42B
Net Rental Expense, Total	194M	192M	204M	312M	282M
Imputed Operating Lease Interest Expense	34.99M	38.6M	54.35M	66.84M	60.24M
Imputed Operating Lease Depreciation	159M	154M	150M	245M	222M
Stock-Based Comp., COGS (Total)	-	-	-	-	-
Stock-Based Comp., Other (Total)	202M	222M	216M	260M	227M
Total Stock-Based Compensation	202M	222M	216M	260M	227M

Fiscal Period: September	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	4.36B	4.13B	3.69B	3.31B	3.09B
Trading Asset Securities, Total	-	-	-	-	-
Total Cash And Short Term Investments	4.36B	4.13B	3.69B	3.31B	3.09B
Accounts Receivable, Total	1.43B	1.26B	1.35B	1.48B	1.54B
Total Receivables	1.43B	1.26B	1.35B	1.48B	1.54B
Other Current Assets, Total	6.11B	8.55B	10.35B	12.13B	12.76B
Total Current Assets	11.9B	13.95B	15.39B	16.92B	17.39B
Gross Property Plant And Equipment	2.4B	2.17B	2.16B	2.73B	2.66B
Accumulated Depreciation	-1.18B	-958M	-957M	-962M	-945M
Net Property Plant And Equipment	1.22B	1.21B	1.21B	1.77B	1.71B
Long-term Investments	1.51B	1.65B	2.22B	2.34B	2.37B
Goodwill	4.46B	5.78B	6B	6.21B	6.21B
Other Intangibles, Total	4.71B	5.08B	4.9B	4.8B	4.17B
Deferred Tax Assets Long-Term	132M	103M	132M	76.1M	83.3M
Other Long-Term Assets, Total	244M	293M	267M	344M	431M
Total Assets	24.17B	28.06B	30.12B	32.46B	32.37B
Liabilities
Accounts Payable, Total	479M	466M	530M	552M	615M
Accrued Expenses, Total	1.44B	1.46B	1.67B	1.8B	1.76B
Short-term Borrowings	-	-	-	-	-
Current Portion of Long-Term Debt	-	-	-	400M	456M
Current Portion of Leases	129M	120M	95.2M	42.3M	143M
Current Income Taxes Payable	694M	523M	514M	406M	208M
Other Current Liabilities	631M	683M	378M	861M	1.06B
Total Current Liabilities	3.37B	3.26B	3.18B	4.06B	4.25B
Long-Term Debt	3.4B	3.38B	3.05B	2.38B	1.91B
Long-Term Leases	389M	409M	373M	923M	858M
Deferred Tax Liability Non Current	312M	348M	450M	285M	262M
Other Non Current Liabilities	3.95B	6.85B	9.49B	10.25B	10.91B
Total Liabilities	11.42B	14.24B	16.55B	17.9B	18.18B
Common Stock, Total	50.2M	50M	49.6M	52.4M	52.1M
Retained Earnings	11.55B	12.05B	12.38B	11.93B	11.52B
Comprehensive Income and Other	-378M	-621M	-509M	528M	510M
Total Common Equity	11.22B	11.47B	11.92B	12.51B	12.08B
Minority Interest	1.52B	2.35B	1.66B	2.06B	2.11B
Total Equity	12.74B	13.82B	13.57B	14.56B	14.19B
Total Liabilities And Equity	24.17B	28.06B	30.12B	32.46B	32.37B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	502M	500M	495M	524M	521M
ECS Total Common Shares Outstanding	502M	500M	496M	524M	521M
Book Value / Share	22.37	22.97	24.03	23.89	23.18
Tangible Book Value	2.06B	614M	1.01B	1.49B	1.71B
Tangible Book Value Per Share	4.1	1.23	2.04	2.85	3.27
Total Debt	3.92B	3.9B	3.52B	3.75B	3.36B
Net Debt	-440M	-230M	-166M	436M	274M
Debt Equivalent Oper. Leases	1.55B	1.54B	1.63B	2.5B	2.26B
Minority Interest, Total (Incl. Fin. Div)	1.52B	2.35B	1.66B	2.06B	2.11B
Equity Method Investments, Total	814M	772M	1.09B	1.22B	894M
Account Code - Inventory Valuation	3	3	3	3	3
Land - (BS)	82.5M	78.7M	78.7M	79.3M	80M
Buildings, Total	868M	894M	933M	1.06B	1.1B
Machinery, Total	391M	314M	367M	338M	298M
Full Time Employees	10.3K	9.8K	9.2K	10.2K	9.8K

Fiscal Period: September	2021	2022	2023	2024	2025
Net Income	1.83B	1.29B	883M	465M	525M
Depreciation & Amortization - CF	78.6M	95.8M	104M	116M	125M
Amortization of Goodwill and Intangible Assets - (CF)	232M	282M	341M	338M	406M
Depreciation & Amortization, Total	311M	378M	445M	455M	532M
Amortization of Deferred Charges, Total - (CF)	78.2M	64.8M	50M	62M	79.8M
(Gain) Loss From Sale Of Asset	-	-	-	-	-
(Gain) Loss on Sale of Investments - (CF)	-392M	170M	80.9M	-32.7M	33.5M
Asset Writedown & Restructuring Costs	-	-	-	389M	227M
(Income) Loss On Equity Investments - (CF)	-154M	-36.2M	-123M	-138M	-78M
Stock-Based Compensation (CF)	172M	208M	183M	246M	215M
Tax Benefit from Stock Options	-	-	-	-	-
Other Operating Activities, Total	-498M	-192M	-445M	-330M	-218M
Change in Trading Asset Securities	-	-	-	-	-
Change In Accounts Receivable	-182M	-86.7M	-63.2M	-112M	-129M
Change In Accounts Payable	-26.8M	60M	-2.7M	-36.5M	75M
Change In Income Taxes	-12.5M	-180M	-1.1M	-93.4M	-182M
Change in Other Net Operating Assets	119M	278M	132M	95.9M	-13.9M
Cash from Operations	1.25B	1.96B	1.14B	971M	1.07B
Capital Expenditure	-79.3M	-90.3M	-149M	-177M	-154M
Cash Acquisitions	-393M	-1.35B	-550M	68.5M	-216M
Divestitures	-	38.8M	-	-	-
Investment in Marketable and Equity Securities, Total	-2.21B	-1.94B	-2.65B	-1.78B	-1.88B
Net (Increase) Decrease in Loans Originated / Sold - Investing	42.7M	-	-	-	-
Other Investing Activities, Total	20.3M	19.9M	-232M	-535M	-90.5M
Cash from Investing	-2.62B	-3.33B	-3.58B	-2.42B	-2.34B
Short Term Debt Issued, Total	-	-	175M	5.3M	145M
Long-Term Debt Issued, Total	4.13B	5.18B	3.54B	4.35B	6.33B
Total Debt Issued	4.13B	5.18B	3.71B	4.35B	6.47B
Short Term Debt Repaid, Total	-	-	-	-81.1M	-61.8M
Long-Term Debt Repaid, Total	-2.07B	-3.05B	-1.4B	-2.16B	-5.5B
Total Debt Repaid	-2.07B	-3.05B	-1.4B	-2.24B	-5.56B
Issuance of Common Stock	22.3M	25.1M	23.3M	20.8M	24.1M
Repurchase of Common Stock	-208M	-181M	-256M	-274M	-240M
Common Dividends Paid	-560M	-583M	-607M	-656M	-684M
Common & Preferred Stock Dividends Paid	-560M	-583M	-607M	-656M	-684M
Special Dividend Paid	-	-	-	-	-
Other Financing Activities, Total	710M	185M	560M	218M	440M
Cash from Financing	2.03B	1.58B	2.03B	1.42B	452M
Foreign Exchange Rate Adjustments	-2.2M	-77.2M	34.3M	43.3M	-10.8M
Net Change in Cash	657M	135M	-380M	6.5M	-835M
Supplemental Items
Cash Interest Paid	219M	282M	501M	808M	860M
Cash Income Tax Paid (Refund)	498M	468M	233M	436M	465M
Levered Free Cash Flow	656M	-297M	-482M	-27.72M	688M
Unlevered Free Cash Flow	709M	-236M	-405M	33.02M	747M
Change In Net Working Capital	1.1B	2.05B	1.9B	1.35B	667M
Net Debt Issued / Repaid	2.07B	2.14B	2.31B	2.11B	912M

Fiscal Period: September	2021	2022	2023	2024	2025
Profitability
Return on Assets	5.65	4.74	3.22	2.5	2.25
Return on Total Capital	8.17	7.19	5.38	4.42	4.08
Return On Equity %	17.34	10.04	8.05	4.32	3.82
Return on Common Equity	16.44	10.91	7.23	3.54	3.84
Margin Analysis
Gross Profit Margin %	42.01	42.48	40	38.22	37.4
SG&A Margin	14.65	15.15	16.55	19.45	19.43
EBITDA Margin %	28.28	28.48	24.79	20.14	19.4
EBITA Margin %	27.35	27.33	23.46	18.77	17.97
EBIT Margin %	24.6	23.92	19.11	14.78	13.33
Income From Continuing Operations Margin %	24.86	16.11	14.06	7.17	6.26
Net Income Margin %	21.73	15.61	11.25	5.48	5.98
Net Avail. For Common Margin %	20.81	14.96	10.77	5.1	5.38
Normalized Net Income Margin	16.03	14.97	11.46	10.43	9.94
Levered Free Cash Flow Margin	7.78	-3.59	-6.14	-0.33	7.85
Unlevered Free Cash Flow Margin	8.42	-2.85	-5.16	0.39	8.52
Asset Turnover
Asset Turnover	0.37	0.32	0.27	0.27	0.27
Fixed Assets Turnover	6.56	6.82	6.5	5.7	5.04
Receivables Turnover (Average Receivables)	6.3	6.11	5.98	5.96	5.77
Short Term Liquidity
Current Ratio	3.53	4.28	4.84	4.17	4.1
Quick Ratio	1.72	1.66	1.58	1.18	1.09
Operating Cash Flow to Current Liabilities	0.37	0.6	0.36	0.24	0.25
Days Sales Outstanding (Average Receivables)	57.9	59.75	61.07	61.36	63.21
Average Days Payable Outstanding	33.85	36.25	38.61	37.78	38.79
Long Term Solvency
Total Debt/Equity	30.74	28.24	25.94	25.72	23.7
Total Debt / Total Capital	23.51	22.02	20.59	20.46	19.16
LT Debt/Equity	29.73	27.38	25.24	22.68	19.48
Long-Term Debt / Total Capital	22.74	21.35	20.04	18.04	15.74
Total Liabilities / Total Assets	47.27	50.73	54.94	55.14	56.16
EBIT / Interest Expense	24.27	20.16	12.13	12.89	12.32
EBITDA / Interest Expense	30.17	25.96	17.38	20.78	20.9
(EBITDA - Capex) / Interest Expense	29.24	25.04	16.17	18.96	19.27
Total Debt / EBITDA	1.52	1.53	1.64	1.85	1.7
Net Debt / EBITDA	-0.17	-0.09	-0.08	0.22	0.14
Total Debt / (EBITDA - Capex)	1.57	1.59	1.76	2.03	1.84
Net Debt / (EBITDA - Capex)	-0.18	-0.09	-0.08	0.24	0.15
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	51.36	-1.78	-5.15	8.01	3.45
Gross Profit, 1 Yr. Growth %	57.99	-0.68	-10.78	3.18	1.85
EBITDA, 1 Yr. Growth %	54.67	-3.24	-17.5	-12.22	0.76
EBITA, 1 Yr. Growth %	57.16	-4.07	-18.61	-13.58	0.26
EBIT, 1 Yr. Growth %	46.75	-6.87	-24.25	-16.47	-5.2
Earnings From Cont. Operations, 1 Yr. Growth %	166.12	-36.35	-17.24	-40.73	-9.71
Net Income, 1 Yr. Growth %	129.22	-29.45	-31.67	-47.35	12.93
Normalized Net Income, 1 Yr. Growth %	49.38	-10.47	-27.38	-4.83	-0.02
Diluted EPS Before Extra, 1 Yr. Growth %	124.53	-29.13	-32.02	-50.68	7.28
Accounts Receivable, 1 Yr. Growth %	15.82	-11.44	6.61	9.69	4.23
Net Property, Plant and Equip., 1 Yr. Growth %	-9.65	-0.87	-0.12	46.69	-3.18
Total Assets, 1 Yr. Growth %	11.45	16.1	7.34	7.78	-0.3
Tangible Book Value, 1 Yr. Growth %	193.85	-70.13	64.67	47.85	14.13
Common Equity, 1 Yr. Growth %	10.96	2.24	3.85	4.96	-3.44
Cash From Operations, 1 Yr. Growth %	14.96	57.11	-41.81	-10.82	9.76
Capital Expenditures, 1 Yr. Growth %	-23.53	13.87	64.78	19.02	-12.76
Levered Free Cash Flow, 1 Yr. Growth %	-178.94	-183.42	45.16	-94.57	-1.83K
Unlevered Free Cash Flow, 1 Yr. Growth %	-187.56	-157.54	49.51	-107.62	3.47K
Dividend Per Share, 1 Yr. Growth %	3.7	3.57	3.45	3.33	3.23
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	21.91	21.93	-3.48	1.22	5.71
Gross Profit, 2 Yr. CAGR %	21.84	25.27	-6.14	-4.05	2.21
EBITDA, 2 Yr. CAGR %	18.32	28.48	-10.07	-14.41	-6.49
EBITA, 2 Yr. CAGR %	19.14	29.26	-11.05	-15.63	-7.48
EBIT, 2 Yr. CAGR %	13.5	23.41	-15.38	-19.91	-11.7
Earnings From Cont. Operations, 2 Yr. CAGR %	31.82	30.15	-27.42	-32.47	-26.85
Net Income, 2 Yr. CAGR %	23.75	27.17	-30.57	-40.02	-22.89
Normalized Net Income, 2 Yr. CAGR %	9.54	21.9	-18.79	-14.95	-3.12
Diluted EPS Before Extra, 2 Yr. CAGR %	23.25	26.14	-30.59	-42.1	-27.26
Accounts Receivable, 2 Yr. CAGR %	38.92	1.28	-2.83	8.14	6.93
Net Property, Plant and Equip., 2 Yr. CAGR %	33.49	-5.36	-0.49	21.05	19.17
Total Assets, 2 Yr. CAGR %	28.96	13.76	11.64	7.56	3.66
Tangible Book Value, 2 Yr. CAGR %	-45.47	-6.32	-29.87	56.03	29.9
Common Equity, 2 Yr. CAGR %	6.44	6.51	3.04	4.41	0.67
Cash From Operations, 2 Yr. CAGR %	115.37	34.4	-4.38	-29.54	-1.07
Capital Expenditures, 2 Yr. CAGR %	-41.75	-6.68	36.98	40.04	1.9
Levered Free Cash Flow, 2 Yr. CAGR %	-16.49	-42.6	19.58	-71.81	16.07
Unlevered Free Cash Flow, 2 Yr. CAGR %	-13.8	-48.27	1.81	-66.11	31.32
Dividend Per Share, 2 Yr. CAGR %	3.77	3.64	3.51	3.39	3.28
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	10.74	13.44	12.14	0.21	1.96
Gross Profit, 3 Yr. CAGR %	8.35	13.82	11.92	-3.13	-2.32
EBITDA, 3 Yr. CAGR %	3.66	11.46	10.86	-10.8	-9.97
EBITA, 3 Yr. CAGR %	3.73	11.68	10.8	-11.9	-11
EBIT, 3 Yr. CAGR %	0.15	7.15	4.9	-15.75	-15.72
Earnings From Cont. Operations, 3 Yr. CAGR %	41.28	3.41	11.92	-33.79	-25.61
Net Income, 3 Yr. CAGR %	33.8	2.61	3.38	-36.68	-25.93
Normalized Net Income, 3 Yr. CAGR %	-2.14	3.24	2.59	-13.47	-10.65
Diluted EPS Before Extra, 3 Yr. CAGR %	36.96	2.49	2.65	-38.06	-28.88
Accounts Receivable, 3 Yr. CAGR %	24.86	19.56	3.02	1.17	6.82
Net Property, Plant and Equip., 3 Yr. CAGR %	31.57	20.89	-3.65	13.25	12.36
Total Assets, 3 Yr. CAGR %	18.89	24.52	11.58	10.34	4.88
Tangible Book Value, 3 Yr. CAGR %	-35.23	-55.38	13.06	-10.08	40.59
Common Equity, 3 Yr. CAGR %	4.27	5.02	5.62	3.68	1.72
Cash From Operations, 3 Yr. CAGR %	-17.65	93.88	1.68	-7.95	-18.32
Capital Expenditures, 3 Yr. CAGR %	-9.36	-27.16	12.79	30.71	19.6
Levered Free Cash Flow, 3 Yr. CAGR %	-44.19	-31.9	-18.82	-56.51	25.41
Unlevered Free Cash Flow, 3 Yr. CAGR %	-42.86	-37.27	-22.82	-56.11	37.51
Dividend Per Share, 3 Yr. CAGR %	6.78	3.71	3.57	3.45	3.34
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	4.95	5.3	4.82	8.38	9.52
Gross Profit, 5 Yr. CAGR %	3.04	3.73	2.45	6.33	7.93
EBITDA, 5 Yr. CAGR %	-0.41	0.45	-1.88	0.06	3.56
EBITA, 5 Yr. CAGR %	-0.84	-0.15	-2.27	-0.4	3.09
EBIT, 5 Yr. CAGR %	-2.84	-2.74	-6.17	-4.88	-2.09
Earnings From Cont. Operations, 5 Yr. CAGR %	3.57	-5.72	8.24	-12.8	-6.96
Net Income, 5 Yr. CAGR %	1.18	-5.31	2.92	-17.22	-8.06
Normalized Net Income, 5 Yr. CAGR %	-2.27	-2.67	-8.99	-4.71	0.9
Diluted EPS Before Extra, 5 Yr. CAGR %	3.97	-3.41	4.36	-18.44	-10.56
Accounts Receivable, 5 Yr. CAGR %	13.86	10.5	12.94	14.86	4.57
Net Property, Plant and Equip., 5 Yr. CAGR %	18.42	18.49	17.66	20.95	4.9
Total Assets, 5 Yr. CAGR %	8.47	9.86	15.93	17.44	8.34
Tangible Book Value, 5 Yr. CAGR %	-26.72	-43.21	-33.14	-26.38	19.52
Common Equity, 5 Yr. CAGR %	-1.22	-1.88	3.78	4.77	3.61
Cash From Operations, 5 Yr. CAGR %	-6.34	11.5	-12.58	29.32	-0.32
Capital Expenditures, 5 Yr. CAGR %	-4.07	3.81	6.92	-5.4	8.3
Levered Free Cash Flow, 5 Yr. CAGR %	-17.03	-4.3	-33.73	-50.58	-5.25
Unlevered Free Cash Flow, 5 Yr. CAGR %	-16.04	-6.95	-36.1	-48.97	-3.22
Dividend Per Share, 5 Yr. CAGR %	9.24	7.71	5.46	3.58	3.46