Franklin Resources Inc Stock Research

Market Summary

USD26.94+0.68

Market Closed

2.59%

BEN Alerts

Big fall in Revenue (Y/Y)
Big fall in earnings (Y/Y)

BEN Stock Price

BEN RSI Chart

BEN Valuation

Market Cap

13.5B

Price/Earnings (Trailing)

13.42

Price/Sales (Trailing)

1.68

EV/EBITDA

8.39

Price/Free Cashflow

9.4

BEN Price/Sales (Trailing)

BEN Profitability

EBT Margin

15.75%

Return on Equity

8.61%

Return on Assets

3.42%

Free Cashflow Yield

10.63%

BEN Fundamentals

BEN Revenue

Revenue (TTM)

8.0B

Revenue Y/Y

-11.55%

Revenue Q/Q

1.45%

BEN Earnings

Earnings (TTM)

1.0B

Earnings Y/Y

-63.46%

Earnings Q/Q

-28.84%

Price Action

52 Week Range

20.2434.37

(Low)(High)

Last 7 days

-0.1%

Last 30 days

-10.9%

Last 90 days

-0.4%

Trailing 12 Months

-5.2%

BEN Financial Health

Debt/Equity

0.29

Debt/Cashflow

0.46

BEN Investor Care

Dividend Yield

4.36%

Dividend/Share (TTM)

1.17

Buy Backs (1Y)

0.45%

Diluted EPS (TTM)

1.96

Peers (Alternatives to Franklin Resources)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
BX	62.4B	8.5B	-5.56%	-29.60%	35.7	7.32	-62.27%	-70.16%
KKR	45.2B	5.7B	10.72%	-12.40%	-53.77	7.9	-64.76%	-118.02%
AMP	33.8B	14.3B	-12.32%	-1.91%	10.39	2.44	6.72%	-7.28%
BEN	13.5B	8.0B	-10.89%	-5.21%	13.42	1.68	-7.35%	-48.21%
MID-CAP
IVZ	7.5B	6.0B	-8.78%	-28.98%	10.91	1.23	-12.26%	-50.90%
HLI	5.5B	737.1M	-9.32%	-4.87%	45.82	7.52	-67.95%	-74.36%
AMG	5.4B	2.3B	-12.80%	-4.83%	4.75	2.34	-3.43%	102.56%
EVR	4.5B	2.8B	-14.32%	0.26%	9.47	1.62	-15.97%	-35.62%
JHG	4.4B	2.2B	-5.72%	-23.75%	16.08	2	-20.36%	-55.18%
LAZ	3.1B	2.9B	-13.81%	-6.57%	8.64	1.08	-12.79%	-32.30%
AMK	2.3B	618.3M	-1.76%	34.81%	22.49	3.76	16.60%	302.25%
SMALL-CAP
DHIL	495.5M	154.5M	-7.96%	-11.03%	12.25	3.21	-15.20%	-45.51%
VALU	457.6M	40.1M	-2.57%	-26.09%	25.64	11.41	-0.04%	-31.55%
SCU	213.3M	554.5M	-4.57%	-38.46%	85.01	0.38	-42.93%	-98.83%
PZN	161.6M	197.7M	0.84%	-7.62%	4	0.82	5.01%	-33.91%

Financials for Franklin Resources

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	-3.1%	8,018	8,275	8,517	8,659	8,654
Operating Expenses	1.6%	6,608	6,501	6,560	6,629	6,631
S&GA Expenses	-6.6%	1,724	1,846	1,959	2,050	2,109
EBITDA	-23.5%	1,471	1,923	2,375	2,660	-
EBITDA Margin	-21.1%	0.18*	0.23*	0.28*	0.31*	-
Earnings Before Taxes	-27.0%	1,263	1,729	2,213	2,456	2,603
EBT Margin	-24.7%	0.16*	0.21*	0.26*	0.28*	-
Interest Expenses	11.8%	110	98.00	85.00	82.00	75.00
Net Income	-22.3%	1,004	1,292	1,725	1,907	1,939
Net Income Margin	-19.8%	0.13*	0.16*	0.20*	0.22*	-
Free Cahsflow	-23.2%	1,433	1,866	1,496	869	-

Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	4.5%	29,335	28,061	27,596	25,833	24,995
Cash Equivalents	-5.9%	4,502	4,783	4,479	5,015	4,544
Net PPE	2.2%	760	743	759	744	756
Goodwill	2.8%	5,943	5,779	5,807	1,105	262
Liabilities	4.0%	14,800	14,236	13,817	12,505	11,815
Long Term Debt	-0.2%	3,371	3,376	3,382	3,388	3,394
Shareholder's Equity	1.7%	11,666	11,475	11,544	12,190	12,196
Retained Earnings	0.6%	12,113	12,046	11,998	11,891	11,892
Shares Outstanding	0.1%	500	500	498	500	503
Minority Interest	7.9%	889	824	741	649	644

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	-21.6%	1,534	1,957	1,596	970	1,121
Share Based Compensation	4.9%	218	208	206	198	190
Cashflow From Investing	-9.4%	-3,643	-3,329	-3,359	-2,489	-2,532
Cashflow From Financing	31.0%	2,077	1,585	1,976	1,975	1,537
Dividend Payments	0.9%	588	583	578	573	568
Buy Backs	-4.4%	173	181	226	221	186

Risks for BEN

What is the probability of a big loss on BEN?

83.1%

Probability that Franklin Resources stock will be more than 20% underwater in next one year

40.8%

Probability that Franklin Resources stock will be more than 30% underwater in next one year.

14.2%

Probability that Franklin Resources stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does BEN drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Franklin Resources was unfortunately bought at previous high price.

Drawdowns

Returns for BEN

Cumulative Returns on BEN

-2.9%

10-Year Cumulative Returns

-1.3%

7-Year Cumulative Returns

-1.9%

5-Year Cumulative Returns

18.1%

3-Year Cumulative Returns

What are the long-term rolling returns for BEN?

FIve years rolling returns for Franklin Resources.

Annualized Returns

Which funds bought or sold BEN recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-27	Neo Ivy Capital Management	sold off	-100	-7,000	-	-%
2023-03-23	ETF MANAGERS GROUP, LLC	added	4.7	151,427	683,427	0.03%
2023-03-23	MetLife Investment Management, LLC	reduced	-1.61	334,526	1,957,610	0.02%
2023-03-17	American Portfolios Advisors	reduced	-3.99	-16,583	129,314	-%
2023-03-10	MATHER GROUP, LLC.	added	4.08	2,625,950	12,146,000	0.23%
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	reduced	-8.07	4,262,830	37,835,800	0.04%
2023-03-06	NORTH STAR ASSET MANAGEMENT INC	reduced	-0.7	100,701	561,701	0.04%
2023-03-06	Rockefeller Capital Management L.P.	reduced	-3.39	24,000	150,000	-%
2023-03-01	WHITENER CAPITAL MANAGEMENT, INC.	added	16.13	137,645	459,645	0.20%
2023-02-28	Voya Investment Management LLC	reduced	-29.74	-433,053	2,691,950	-%

Latest Funds Activity

Are funds buying BEN calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own BEN

No. of Funds

Franklin Resources News

Schedule 13G FIlings of Franklin Resources

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 09, 2023	vanguard group inc	6.91%	34,570,289	SC 13G/A
Feb 06, 2023	state street corp	7.47%	37,357,474	SC 13G/A
Feb 01, 2023	blackrock inc.	5.9%	29,407,084	SC 13G/A
Feb 11, 2022	state street corp	5.49%	27,564,494	SC 13G/A
Feb 10, 2022	vanguard group inc	6.51%	32,682,023	SC 13G/A
Feb 01, 2022	blackrock inc.	5.4%	27,015,242	SC 13G/A
Feb 10, 2021	vanguard group inc	6.22%	31,487,649	SC 13G/A
Feb 10, 2021	state street corp	5.42%	27,405,759	SC 13G
Feb 02, 2021	blackrock inc.	5.3%	26,766,010	SC 13G
Feb 12, 2020	vanguard group inc	7.23%	36,129,484	SC 13G/A

BEN Fair Value

Franklin Resources fair value in different scenarios

The table shows the Fair Value estimates for Franklin Resources for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	25.14 -6.68%	29.05 7.83%	37.40 38.83%	72.06 167.48%	96.09 256.68%
Current Inflation	24.23 -10.06%	27.86 3.41%	35.31 31.07%	64.16 138.16%	84.47 213.55%
Very High Inflation	23.06 -14.40%	26.31 -2.34%	32.66 21.23%	54.93 103.90%	71.02 163.62%

Historical Franklin Resources Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Franklin Resources

View All Filings

Date Filed	Form Type	Document
Feb 27, 2023	4	Insider Trading
Feb 10, 2023	13F-HR	Fund Holdings Report
Feb 10, 2023	4	Insider Trading
Feb 10, 2023	4	Insider Trading
Feb 10, 2023	4	Insider Trading
Feb 09, 2023	8-K	Current Report
Feb 09, 2023	SC 13G/A	Major Ownership Report
Feb 08, 2023	4	Insider Trading
Feb 08, 2023	4	Insider Trading
Feb 08, 2023	4	Insider Trading

Latest Insider Trading transactions for BEN

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-02-07	Thiel John W	acquired	160,022	32.12	4,982	-
2023-02-07	Byerwalter Mariann H	acquired	160,022	32.12	4,982	-
2023-02-07	Noto Anthony	acquired	160,022	32.12	4,982	-
2023-02-07	YANG GEOFFREY Y	acquired	160,022	32.12	4,982	-
2023-02-01	Sethi Alok	sold	-917,325	31.0926	-29,503	evp, technology and operations
2022-12-20	JOHNSON CHARLES B	gifted	-	-	-860,000	-
2022-12-12	JOHNSON GREGORY E	gifted	-	-	1,126	executive chairman
2022-12-12	JOHNSON GREGORY E	gifted	-	-	2,252	executive chairman
2022-12-12	JOHNSON JENNIFER M	gifted	-	-	5,630	president and ceo

About Franklin Resources

Jennifer M. Johnson

www.franklinresources.com

10300

Franklin Resources, Inc. is a publicly owned asset management holding company. Through its subsidiaries, the firm provides its services to individuals, institutions, pension plans, trusts, and partnerships. It launches equity, fixed income, balanced, and multi-asset mutual funds through its subsidiaries. The firm invests in the public equity, fixed income, and alternative markets. Franklin Resources, Inc. was founded in 1947 and is based in San Mateo, California with an additional office in Hyderabad, India.

BEN Income Statement

2022-12-31

Consolidated Statements of Income - USD ($) $ in Millions	3 Months Ended
Consolidated Statements of Income - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Operating Revenues
Operating revenues	$ 1,967.1	$ 2,224.0
Operating Expenses
Compensation and benefits	979.2	802.6
Sales, distribution and marketing	388.6	510.1
Information systems and technology	121.4	123.8
Occupancy	54.5	56.3
Amortization of intangible assets	83.2	58.3
General, administrative and other	146.2	115.2
Total operating expenses	1,773.1	1,666.3
Operating Income	194.0	557.7
Other Income (Expenses)
Investment and other income, net	91.1	57.0
Interest expense	(30.9)	(19.3)
Expenses of consolidated investment products	7.6	13.2
Other Income, Net	35.1	138.2
Income before taxes	229.1	695.9
Taxes on income	60.3	151.1
Net income	168.8	544.8
Less: net income (loss) attributable to
Redeemable noncontrolling interests	(1.5)	7.5
Nonredeemable noncontrolling interests	4.7	84.1
Net income attributable to Franklin Resources, Inc.	$ 165.6	$ 453.2
Earnings per Share
Basic	$ 0.32	$ 0.89
Diluted	$ 0.32	$ 0.88
CIPs [Member]
Other Income (Expenses)
Investment and other income, net	$ (13.6)	$ 104.7
Expenses of consolidated investment products	(11.5)	(4.2)
Less: net income (loss) attributable to
Redeemable noncontrolling interests	(12.2)	(4.8)
Investment management fees [Member]
Operating Revenues
Operating revenues	1,631.8	1,760.5
Sales and distribution fees [Member]
Operating Revenues
Operating revenues	291.9	398.2
Shareholder servicing fees [Member]
Operating Revenues
Operating revenues	33.4	47.7
Other [Member]
Operating Revenues
Operating revenues	$ 10.0	$ 17.6

BEN Balance Sheet

2022-12-31

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2022	Sep. 30, 2022
Assets
Receivables	$ 1,291.8	$ 1,264.8
Investments	2,045.8	1,651.3
Total investments, at fair value	969.6	613.5
Property and equipment, net	759.9	743.3
Goodwill	5,942.8	5,778.6
Intangible assets, net	5,154.7	5,082.1
Operating lease right-of-use assets	475.7	464.5
Other	426.6	395.4
Total Assets	29,335.1	28,060.6
Liabilities
Compensation and benefits	1,057.7	1,464.4
Accounts payable and accrued expenses	604.9	466.2
Income taxes	665.6	523.1
Debt	3,370.5	3,376.4
Deferred tax liabilities	258.2	347.8
Operating lease liabilities	539.0	528.4
Other	1,545.7	1,425.0
Total liabilities	14,800.4	14,235.9
Commitments and Contingencies (Note 10)
Redeemable Noncontrolling Interests	1,979.2	1,525.8
Stockholders’ Equity
Preferred stock, $1.00 par value, 1,000,000 shares authorized; none issued	0.0	0.0
Common stock, $0.10 par value, 1,000,000,000 shares authorized; 500,265,643 and 499,575,175 shares issued and outstanding at December 31, 2022 and September 30, 2022	50.0	50.0
Retained earnings	12,112.6	12,045.6
Accumulated other comprehensive loss	(496.3)	(621.0)
Total Franklin Resources, Inc. stockholders’ equity	11,666.3	11,474.6
Nonredeemable noncontrolling interests	889.2	824.3
Total stockholders’ equity	12,555.5	12,298.9
Total Liabilities, Redeemable Noncontrolling Interests and Stockholders’ Equity	29,335.1	28,060.6
CIPs [Member]
Assets
Cash and cash equivalents	954.4	647.6
Receivables	91.6	134.0
Total investments, at fair value	8,735.6	7,898.1
Total Assets	9,781.6	8,679.7
Liabilities
Accounts payable and accrued expenses	594.3	646.9
Debt	6,164.5	5,457.7
Other	21.1	175.0
Total liabilities	6,779.9	6,279.6
Redeemable Noncontrolling Interests	1,379.7	942.2
Stockholders’ Equity
Total Franklin Resources, Inc. stockholders’ equity	1,052.5	960.8
Nonredeemable noncontrolling interests	569.5	497.1
Total stockholders’ equity	1,622.0	1,457.9
Total Liabilities, Redeemable Noncontrolling Interests and Stockholders’ Equity	9,781.6	8,679.7
Franklin Resources, Inc. [Member]
Assets
Cash and cash equivalents	$ 3,547.8	$ 4,134.9