15 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 9.5% per year over the past 5 years.
Net income has grown slower than revenue (-8.1% vs 9.5% per year).
Operating margin has contracted, at 6.9% in the latest year.
Free cash flow has declined 1.4% per year over the past 5 years.
Financial health
The company holds more cash ($3.6B) than total debt ($2.4B).
Total debt has grown slower than revenue (-4.8% vs 9.5% per year).
Operating income covered interest expense 6.4× in the latest year, down from 31× 5 years ago.
Total debt is 3.2× EBITDA.
Shareholder returns
Dividends have been paid for 15 consecutive years, consuming 130.3% of earnings and 75.0% of free cash flow.
The dividend has grown 5.1% per year over the past 5 years.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
2025
$8.8B
$525M
0.0%
6.9%
$912M
$2.4B
$3.6B
2024
$8.5B
$465M
0.0%
4.8%
$794M
$2.8B
$4.4B
2023
$7.8B
$883M
0.0%
14.0%
$940M
$3.1B
$4.4B
2022
$8.3B
$1.3B
0.0%
21.4%
$1.9B
$3.4B
$4.8B
2021
$8.4B
$1.8B
0.0%
22.3%
$1.2B
$3.4B
$4.6B
2020
$5.6B
$799M
0.0%
18.8%
$980M
$3.0B
$4.0B
2019
$5.7B
$1.2B
0.0%
25.9%
$35M
$697M
$6.2B
2018
$6.2B
$764M
0.0%
32.7%
$2.1B
$696M
—
2017
—
$1.7B
—
—
$1.1B
$1.0B
—
2016
—
$1.7B
—
—
$1.6B
$1.4B
—
2015
—
$2.0B
—
—
$2.2B
$1.3B
—
2014
—
$2.4B
—
—
$2.1B
$1.2B
—
2013
—
$2.2B
—
—
$2.0B
$1.2B
—
2012
—
$1.9B
—
—
$988M
$1.6B
—
2011
—
$1.9B
—
—
$1.5B
$1.0B
—
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
Mar '26
$2.3B
$268M
0.0%
14.1%
—
$2.3B
$3.6B
Dec '25
$2.3B
$256M
0.0%
12.1%
—
$2.4B
$3.5B
Sep '25
$2.3B
$118M
0.0%
3.6%
-$52M
$2.4B
$3.6B
Jun '25
$2.1B
$92M
0.0%
7.5%
$1.3B
$2.7B
$4.0B
Mar '25
$2.1B
$151M
0.0%
6.9%
-$88M
$2.7B
$3.5B
Dec '24
$2.3B
$164M
0.0%
9.7%
-$217M
$2.8B
$3.6B
Sep '24
$2.2B
-$85M
0.0%
-6.8%
$488M
$2.8B
$4.4B
Jun '24
$2.1B
$174M
0.0%
10.5%
$482M
$3.0B
$4.1B
Mar '24
$2.2B
$124M
0.0%
6.0%
$95M
$3.0B
$4.1B
Dec '23
$2.0B
$251M
0.0%
10.4%
-$271M
$3.0B
$3.9B
Sep '23
$2.0B
$296M
0.0%
17.0%
$737M
$3.1B
$4.4B
Jun '23
$2.0B
$228M
0.0%
16.0%
$576M
$3.4B
$4.4B
Mar '23
$1.9B
$194M
0.0%
13.2%
-$89M
$3.4B
$4.3B
Dec '22
$2.0B
$166M
0.0%
9.9%
-$284M
$3.4B
$4.5B
Sep '22
$1.9B
$233M
0.0%
18.0%
$832M
$3.4B
$4.8B
Jun '22
$2.0B
$256M
0.0%
19.9%
$807M
$3.4B
$4.5B
Mar '22
$2.1B
$350M
0.0%
22.2%
$78M
$3.4B
$5.0B
Dec '21
$2.2B
$453M
0.0%
25.1%
$150M
$3.4B
$4.5B
Sep '21
$2.2B
$666M
0.0%
24.4%
$462M
$3.4B
$4.6B
Jun '21
$2.2B
$438M
0.0%
22.0%
$179M
$3.5B
$4.4B
Valuation over time
How the market has priced BEN against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has risen from 10.8× (Mar '23) to 32.3× (Jun '26).
The price-to-sales ratio has risen from 1.7× (Mar '23) to 1.9× (Jun '26).
The dividend yield has fallen from 4.2% (Mar '23) to 4.0% (Jun '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Dividend yield (%)
Dividend yield %
Frequently asked questions
Is BEN growing its revenue and profit?
Over the past 5 years, Franklin Resources's revenue has grown 9.5% per year, and net income declined 8.1% per year. These are computed facts, not advice.
How much debt does BEN have?
As of FY2025, Franklin Resources reported $2.4B of total debt against $3.6B of cash; operating income covered interest expense 6.4×.
What is BEN's profit margin?
In FY2025, gross margin was —, operating margin 6.9%, and net margin 6.0%.
What is BEN's P/E ratio?
As of Jun '26, Franklin Resources traded at a price-to-earnings ratio of about 32.3× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.