Financials Franklin Resources, Inc.

Equities

BEN

US3546131018

Investment Management & Fund Operators

Real-time Estimate Cboe BZX Other stock markets 20:59:03 17/06/2025 BST			5-day change	1st Jan Change
22.36 ^USD	-1.87%		+2.03%	+10.03%

06-16	TD Cowen Adjusts Price Target on Franklin Resources to $28 From $27, Maintains Buy Rating	MT
06-11	Nasdaq, S&P 500 Close Lower Despite Tame Inflation, US-China Trade Progress	MT

Projected Income Statement: Franklin Resources, Inc.

Fiscal Period: September	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	5,566	8,426	8,275	7,849	8,478	9,379	9,075	7,444
Change	-	51.36%	-1.78%	-5.15%	8.01%	10.62%	-3.24%	-17.97%
EBITDA ¹	1,620	2,690	2,701	2,269	2,168	1,974	2,100	2,106
Change	-	66.08%	0.42%	-16%	-4.47%	-8.93%	6.39%	0.25%
EBIT ¹	1,491	2,379	2,324	1,824	1,713	1,547	1,680	1,942
Change	-	59.57%	-2.35%	-21.51%	-6.07%	-9.68%	8.56%	15.59%
Interest Paid ¹	-33.4	-85.4	-98.2	-123.7	-97.2	-99.1	-93.37	-100.6
Earnings before Tax (EBT) ¹	1,018	2,444	1,729	1,416	823.2	943.5	1,210	1,042
Change	-	140.12%	-29.24%	-18.14%	-41.85%	14.61%	28.21%	-13.87%
Net income ¹	798.9	1,831	1,292	882.8	464.8	819.1	933.9	1,164
Change	-	129.22%	-29.45%	-31.67%	-47.35%	76.22%	14.03%	24.67%
Announcement Date	27/10/20	01/11/21	01/11/22	31/10/23	04/11/24	-	-	-

¹USD in Million

Estimates

Fiscal Period: September	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4
Net sales ¹	1,188	1,705	1,995	2,076	2,173	2,181	2,224	2,081	2,031	1,939	1,967	1,927	1,969	1,986	1,991	2,153	2,123	2,211	2,252	2,111	2,384	2,380	2,640	2,566	1,972	1,971
Change	-	43.51%	17.01%	4.08%	4.64%	0.37%	1.97%	-6.43%	-2.39%	-4.54%	1.45%	-2.03%	2.17%	0.87%	0.25%	8.12%	-1.39%	4.16%	1.83%	-6.23%	12.89%	-0.15%	10.9%	-2.77%	-23.15%	-0.04%
EBITDA ¹	293	502.2	629.9	604.1	685.3	712.7	767	596.9	674.8	602.6	432.6	480.6	514.4	624.2	528.5	536	453.9	565.4	463.2	520.2	431	463.2	477.4	486.6	501.2	522
Change	-	71.4%	25.43%	-4.1%	13.44%	4%	7.62%	-22.18%	13.05%	-10.7%	-28.21%	11.1%	7.03%	21.35%	-15.33%	1.42%	-15.32%	24.56%	-18.08%	12.31%	-17.15%	7.47%	3.05%	1.93%	3.01%	4.14%
EBIT ¹	270.8	428.9	549.9	581.1	601.2	647.1	685.9	576.6	566.9	494.1	395.1	440.2	476.8	511.7	417	419.6	424.9	451.6	412.8	377.2	365.9	391.4	406.2	399.1	433.2	453
Change	-	58.38%	28.21%	5.67%	3.46%	7.63%	6%	-15.94%	-1.68%	-12.84%	-20.04%	11.41%	8.31%	7.32%	-18.51%	0.62%	1.26%	6.28%	-8.59%	-8.62%	-3.01%	6.99%	3.76%	-1.75%	8.55%	4.56%
Charge d'intérêts ¹	-6.8	-18.4	-29.7	-15.9	-25.7	-14.1	-19.3	-22.9	-28.9	-27.1	-30.9	-33.5	-34.9	-24.4	-18.8	-27.7	-25.7	-25	-23.1	-20.8	-23.37	-23.37	-23.43	-23.1	-23.43	-23.43
Earnings before Tax (EBT) ¹	269.8	199.6	537.3	613.5	555.4	738	695.9	466.2	313.1	254.2	229.1	431	332.1	423.5	331.2	238.1	300.1	-46.2	-	42.7	297.5	177	392.2	443.9	259.9	313
Change	-	-26.02%	169.19%	14.18%	-9.47%	32.88%	-5.7%	-33.01%	-32.84%	-18.81%	-9.87%	88.13%	-22.95%	27.52%	-21.79%	-28.11%	26.04%	-115.39%	-	-	596.72%	-40.5%	121.58%	13.18%	-41.45%	20.43%
Net income ¹	290.4	78.9	330.7	381.8	438.4	665.7	453.2	349.6	256.4	232.7	165.6	194.2	227.5	295.5	-	124.2	174	-84.7	163.6	151.4	241.8	262.5	261.4	252.4	-	-
Change	-	-72.83%	319.14%	15.45%	14.82%	51.85%	-31.92%	-22.86%	-26.66%	-9.24%	-28.84%	17.27%	17.15%	29.89%	-	-	40.1%	-148.68%	293.15%	-7.46%	59.69%	8.56%	-0.41%	-3.42%	-	-
Announcement Date	28/07/20	27/10/20	02/02/21	04/05/21	03/08/21	01/11/21	01/02/22	03/05/22	28/07/22	01/11/22	30/01/23	01/05/23	28/07/23	31/10/23	29/01/24	29/04/24	26/07/24	04/11/24	31/01/25	02/05/25	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Franklin Resources, Inc.

Fiscal Period: September	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	-9.7	-958	-759	-634	-529	-815	-750	-1,009
Change	-	-9,776.29%	20.77%	16.47%	16.56%	-54.01%	7.98%	-34.53%
Announcement Date	27/10/20	01/11/21	01/11/22	31/10/23	04/11/24	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Franklin Resources, Inc.

Fiscal Period: September	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	103.7	79.3	90.3	148.8	177.1	149	145	144
Change	-	-23.53%	13.87%	64.78%	19.02%	-15.87%	-2.68%	-0.69%
Free Cash Flow (FCF) ¹	917.7	1,166	1,866	989.9	794.2	1,024	1,339	1,518
Change	-	27.07%	60.05%	-46.96%	-19.77%	28.95%	30.77%	13.35%
Announcement Date	27/10/20	01/11/21	01/11/22	31/10/23	04/11/24	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Franklin Resources, Inc.

Fiscal Period: September	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	29.1%	31.93%	32.64%	28.91%	25.57%	21.05%	23.14%	28.29%
EBIT Margin (%)	26.79%	28.24%	28.08%	23.23%	20.21%	16.5%	18.51%	26.08%
EBT Margin (%)	18.29%	29.01%	20.9%	18.04%	9.71%	10.06%	13.33%	14%
Net margin (%)	14.35%	21.73%	15.61%	11.25%	5.48%	8.73%	10.29%	15.64%
FCF margin (%)	16.49%	13.84%	22.55%	12.61%	9.37%	10.92%	14.76%	20.39%
FCF / Net Income (%)	114.87%	63.68%	144.47%	112.13%	170.87%	125.03%	143.39%	130.37%
Profitability
ROA	7.54%	8.35%	7.11%	4.58%	4.08%	2.9%	3.43%	2.9%
ROE	7.98%	17.95%	16.35%	11.39%	10.45%	8.95%	10.16%	12.66%
Financial Health
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Debt / Free cash flow	-	-	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	1.86%	0.94%	1.09%	1.9%	2.09%	1.59%	1.6%	1.93%
CAPEX / EBITDA (%)	6.4%	2.95%	3.34%	6.56%	8.17%	7.55%	6.9%	6.84%
CAPEX / FCF (%)	11.3%	6.8%	4.84%	15.03%	22.3%	14.55%	10.83%	9.49%
Items per share
Cash flow per share ¹	1.05	2.747	3.999	2.188	-	-	-	-
Change	-	161.64%	45.57%	-45.28%	-	-	-	-
Dividend per Share ¹	1.08	1.12	1.16	1.2	1.24	1.278	1.318	1.355
Change	-	3.7%	3.57%	3.45%	3.33%	3.02%	3.13%	2.85%
Book Value Per Share ¹	20.43	22.37	23.45	24.03	23.89	22.28	22.83	24.23
Change	-	9.48%	4.85%	2.47%	-0.59%	-6.72%	2.45%	6.14%
EPS ¹	1.59	3.57	2.53	1.72	0.85	1.108	1.614	1.91
Change	-	124.53%	-29.13%	-32.02%	-50.58%	30.37%	45.65%	18.34%
Nbr of stocks (in thousands)	495,357	502,854	498,357	498,978	522,998	525,521	525,521	525,521
Announcement Date	27/10/20	01/11/21	01/11/22	31/10/23	04/11/24	-	-	-