Franklin Resources (BEN) financial statements
Franklin Resources reported revenue of $8.8B in fiscal 2025, up 3.2% a year over 9 years.
Net income was $525M and the operating margin 6.9%, against 35.7% in 2016.
Free cash flow was $912M, and the company returned $684M in dividends and $240M in net buybacks.
The diluted share count fell 11% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Franklin Resources's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.6B | $6.4B | $6.2B | $5.7B | $5.6B | $8.4B | $8.3B | $7.8B | $8.5B | $8.8B |
| Selling, general and admin | $2.5B | $2.5B | $2.4B | $2.2B | $2.2B | $2.6B | $2.4B | $2.2B | $2.6B | $2.8B |
| Operating income | $2.4B | $2.3B | $2.0B | $1.5B | $1.0B | $1.9B | $1.8B | $1.1B | $408M | $604M |
| Interest expense | $50M | $52M | $46M | $22M | $33M | $85M | $98M | $124M | $97M | $95M |
| Pre-tax income | $2.5B | $2.5B | $2.2B | $1.6B | $1.0B | $2.4B | $1.7B | $1.3B | $823M | $787M |
| Income tax | $742M | $759M | $1.5B | $442M | $231M | $350M | $396M | $312M | $215M | $238M |
| Net income | $1.7B | $1.7B | $764M | $1.2B | $799M | $1.8B | $1.3B | $883M | $465M | $525M |
| EPS (diluted) | $2.94 | $3.01 | $1.39 | $2.35 | $1.59 | $3.57 | $2.53 | $1.72 | $0.85 | $0.91 |
| Diluted shares | 584M | 559M | 538M | 504M | 492M | 491M | 489M | 491M | 510M | 517M |
| Operating margin | 35.7% | 35.4% | 32.7% | 25.9% | 18.8% | 22.3% | 21.4% | 14.0% | 4.8% | 6.9% |
| Net margin | 26.1% | 26.5% | 12.3% | 21.1% | 14.4% | 21.7% | 15.6% | 11.2% | 5.5% | 6.0% |
Balance sheet
Fiscal years, from Franklin Resources's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $8.5B | $8.7B | $6.9B | $6.2B | $4.0B | $4.6B | $4.8B | $4.4B | $4.4B | $3.6B |
| Property, plant and equipment | $523M | $517M | $535M | $684M | $814M | $770M | $743M | $800M | $946M | $949M |
| Goodwill | $1.7B | $1.7B | $1.8B | $2.1B | $4.5B | $4.5B | $5.8B | $6.0B | $6.2B | $6.2B |
| Total assets | $16.1B | $17.5B | $14.4B | $14.5B | $21.7B | $24.2B | $28.1B | $30.1B | $32.5B | $32.4B |
| Total liabilities | $3.5B | $2.7B | $3.1B | $3.2B | $10.3B | $11.4B | $14.2B | $16.5B | $17.9B | $18.2B |
| Shareholders' equity | $11.9B | $12.6B | $9.9B | $9.9B | $10.1B | $11.2B | $11.5B | $11.9B | $12.5B | $12.1B |
| Net debt | -$8.5B | -$8.7B | -$6.9B | -$6.2B | -$4.0B | -$4.6B | -$4.8B | -$4.4B | -$4.4B | -$3.6B |
Cash flow
Fiscal years, from Franklin Resources's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.7B | $1.1B | $2.2B | $268M | $1.1B | $1.2B | $2.0B | $1.1B | $971M | $1.1B |
| Capital spending | $98M | $75M | $106M | $234M | $104M | $79M | $90M | $149M | $177M | $154M |
| Free cash flow | $1.6B | $1.1B | $2.1B | $35M | $980M | $1.2B | $1.9B | $940M | $794M | $912M |
| Stock-based compensation | $132M | $123M | $118M | $112M | $122M | $172M | $208M | $183M | $246M | $215M |
| Dividends paid | $409M | $441M | $2.1B | $519M | $533M | $560M | $583M | $607M | $656M | $684M |
| Share buybacks (net) | -$1.3B | -$765M | -$1.4B | -$754M | -$218M | -$208M | -$181M | -$256M | -$274M | -$240M |
| Free cash flow margin | 24.6% | 16.6% | 34.2% | 0.6% | 17.6% | 13.8% | 22.6% | 12.0% | 9.4% | 10.4% |
| Dividends per share | $0.70 | $0.79 | $3.93 | $1.03 | $1.08 | $1.14 | $1.19 | $1.24 | $1.29 | $1.32 |
Questions
What was Franklin Resources's revenue in 2025?
$8.8B in fiscal 2025, from its 10-K filing.
How much free cash flow does Franklin Resources generate?
$912M in fiscal 2025 (operating cash flow minus capital spending).
From Franklin Resources's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.