BEN vs OWL: Franklin Resources and Blue Owl Capital compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Franklin Resources is the larger company, worth $16.5B, close to Blue Owl Capital's $15.1B.
- Franklin Resources grew revenue faster over the last year (+14.3% vs +7.1%).
- Blue Owl Capital keeps more of each dollar of revenue as operating profit (16.9% vs 9.7%).
- On earnings, Franklin Resources is the cheaper stock (24.3x vs 80.8x).
- Franklin Resources's price assumes faster free cash flow growth: about 4% a year, against -1% for Blue Owl Capital (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | BEN | OWL |
|---|---|---|
| Market cap | $16.5B | $15.1B |
| Share price | $32.00 | $9.49 |
| Revenue (last fiscal year) | $8.8B | $2.9B |
| Free cash flow (last fiscal year) | $912M | $1.2B |
| Revenue growth, last year | +14.3% | +7.1% |
| Revenue growth per year, last 5 fiscal years | +1.0% | +36.6% |
| Operating margin | 9.7% | 16.9% |
| Net margin | 8.7% | 2.7% |
| Return on equity | 6.9% | 4.0% |
| P/E (trailing) | 24.3x | 80.8x |
| Price / free cash flow | 18.1x | 12.6x |
| EV / EBITDA | 16.1x | 10.9x |
| FCF growth the price implies | 3.7% | -1.1% |
| Dividend yield | 4.0% | 9.6% |
| Debt / equity | 1.86x | 3.37x |
| Fundamental grade | C | D |
| Superinvestors holding it | 4 | 1 |
| Insider purchases, last 12 months | 2 | 7 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Franklin Resources
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $8.4B | $1.2B | 22.3% |
| 2022 | $8.3B | $1.9B | 21.4% |
| 2023 | $7.8B | $940M | 14.0% |
| 2024 | $8.5B | $794M | 4.8% |
| 2025 | $8.8B | $912M | 6.9% |
Blue Owl Capital
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $824M | $276M | -112.5% |
| 2022 | $1.4B | $663M | -0.18% |
| 2023 | $1.7B | $881M | 18.4% |
| 2024 | $2.3B | $935M | 26.4% |
| 2025 | $2.9B | $1.2B | 15.9% |
Where the revenue comes from
Franklin Resources · by products, 2025
Investment management fees$7.0B80%
Sales and distribution fees$1.5B17%
Shareholder servicing fees$264M3%
Other$50M1%
Blue Owl Capital · by segments, 2023
Credit Platform$1.1B61%
GP Strategic Capital Platform$537M31%
Real Estate Platform$139M8%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open BEN in InvestinglyQuestions
Which is bigger, Franklin Resources or Blue Owl Capital?
Franklin Resources (BEN), at $16.5B against $15.1B.
Is BEN or OWL cheaper?
By trailing P/E, Franklin Resources (24.3x) is cheaper than Blue Owl Capital (80.8x). A lower multiple can also mean the market expects less growth.
Which grows faster, BEN or OWL?
Franklin Resources: revenue grew +14.3% over the last year, against +7.1%.
More comparisons
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.