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US asset manager (Franklin Templeton) offering active and alternative funds across equities, fixed income and alternatives.
US asset manager (Franklin Templeton) offering active and alternative funds across equities, fixed income and alternatives.
Earns annual fees set as a share of the assets it manages, so income moves with markets and with money flowing in or out of its funds. Buying Legg Mason in 2020 and private-markets managers such as Lexington Partners and Benefit Street Partners added alternatives, which carry higher fees. The Johnson family remains a major shareholder.
Moat: none (brand, distribution). Legacy active-management brand faces persistent outflows as investors shift to lower-cost passive and alternative products.
Headquarters: San Mateo, California, US · Founded: 1947 · Employees: 9,800
Size Franklin Resources (BEN) is a United States Financials company (Investment Managers) with a market value of $17.1B, the 546th largest of 3,117 United States companies the cockpit tracks. Shares closed at $33.73 on 6 Nov 2026.
Performance Over six months the shares gained 9.7%, against +4.2% for the median peer and -1.1% for the United States market (cap-weighted) — 7th highest of 21 in its peer set.
Growth Revenue grew 8.4% over the last twelve months (peer median +11.9%); the operating margin is 15.2% (peer median 35.9%).
Valuation It trades at 10.6× forward earnings against a peer median of 13.2× (7th cheapest of 21).
Credit Franklin Resources has 2 bonds outstanding ($1.60B), rated A by the agencies and trading like A- at a weighted spread of 83 bp.
Short interest Short interest is 3.5% of the free float (15 Oct 2026).
Next results Next results expected around 1 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $9.36B | $8.73B | $8.54B | $7.89B | $8.20B |
| Revenue growth | — | +2% | +8% | -4% | — |
| Gross profit | $6.84B | $6.17B | $6.20B | $5.83B | $5.96B |
| EBITDA | $1.79B | $1.66B | $1.84B | $1.91B | $2.34B |
| Net income | $759M | $472M | $432M | $845M | $1.24B |
| Free cash flow | $240M | $893M | $785M | $938M | $1.87B |
| Capital expenditure | $46.2M | $154M | $177M | $149M | $90.3M |
| Total debt | $16.7B | $13.3B | $13.1B | $11.8B | $9.36B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Franklin Resources BEN | $17.1B | +10% | +8% | 15% | 10.6× | n/a |
| T. Rowe Price TROW | $23.1B | +4% | +7% | 36% | 10.8× | n/a |
| Invesco IVZ | $11.9B | -1% | +17% | 24% | 8.6× | n/a |
| BlackRock BLK | $192B | +9% | +24% | 36% | 18.9× | n/a |
| Affiliated Managers AMG | $9.39B | +20% | +12% | 22% | 9.1× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | BEN | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +4.1% | +1.5% | 7th highest of 21 |
| 6-month return | +9.7% | +4.2% | 7th highest of 21 |
| Distance from 52-week high | -7.0% | -15.8% | 4th highest of 21 |
| Revenue growth (TTM) | +8.4% | +11.9% | 8th lowest of 21 |
| Operating margin | 15.2% | 35.9% | 4th lowest of 21 |
| Forward P/E | 10.6× | 13.2× | 7th cheapest of 21 |
| Bond spread | 83 bp | 112 bp | 2nd tightest of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Franklin Resources BEN | United States | $17.1B | +10% | +8% | 15% | 10.6× | n/a | n/a |
| CVC Capital Partners CVC.AS | Netherlands | $16.9B | +10% | +14% | 57% | 18.1× | n/a | n/a |
| TPG TPG | United States | $17.9B | +4% | +21% | 17% | 13.8× | n/a | n/a |
| Blue Owl Capital OWL | United States | $15.4B | -7% | +11% | 17% | 10.4× | n/a | n/a |
| ICICI Prudential Asset Management ICICIAMC.NS | India | $15.4B | -11% | +22% | 73% | 39.2× | n/a | n/a |
| DWS Group GmbH & Co. KGaA DWS.DE | Germany | $14.7B | +7% | +24% | 37% | 12.6× | n/a | n/a |
| China Merchants Securities 600999.SS | China | $20.1B | +3% | -8% | 76% | 6.8× | n/a | n/a |
| Pershing Square PS | United States | $20.6B | +24% | +67% | 37% | 84.9× | n/a | n/a |
| Carlyle CG | United States | $14.1B | -22% | -44% | 14% | 10.2× | n/a | n/a |
| Guosen Securities 002736.SZ | China | $13.9B | -16% | -10% | 34% | 7.9× | n/a | n/a |
| Partners PGHN.SW | Switzerland | $21.3B | -24% | +9% | 56% | 16.7× | n/a | n/a |
| Amundi AMUN.PA | France | $21.7B | +9% | +1% | 23% | 11.9× | n/a | n/a |
| IGM Financial IGM.TO | Canada | $13.3B | +7% | +20% | 36% | 14.0× | n/a | n/a |
| iA Financial IAG.TO | Canada | $13.1B | +29% | +13% | 59% | 13.9× | n/a | n/a |
| T. Rowe Price TROW | United States | $23.1B | +4% | +7% | 36% | 10.8× | n/a | n/a |
| CSC Financial 601066.SS | China | $23.4B | -3% | -2% | 49% | 14.2× | n/a | n/a |
| SEI Investments SEIC | United States | $12.5B | +15% | +13% | 30% | 15.3× | n/a | n/a |
| Principal Financial PFG | United States | $23.6B | +10% | +5% | 15% | 11.3× | n/a | n/a |
| HDFC Asset Management HDFCAMC.NS | India | $12.0B | -7% | +12% | 80% | 35.5× | n/a | n/a |
| Invesco IVZ | United States | $11.9B | -1% | +17% | 24% | 8.6× | n/a | n/a |
| Nomura 8604.T | Japan | $26.5B | +15% | +12% | 12% | 9.0× | n/a | n/a |
Franklin Resources has 2 bonds outstanding with $1.60B face value. The agencies rate it A; its bonds trade like A-. Weighted yield 5.53%, a spread of 83 bp over government bonds.