Franklin Resources (BEN) stock
Financials · Asset Management & Custody Banks
Franklin Resources (BEN) is an Asset Management & Custody Banks company in the Financials sector, headquartered in San Mateo, California. As of October 23, 2026, BEN closed at $31.06, a market capitalization of $15.78 billion, the 445th largest company in the S&P 500. The stock trades at 21.1x trailing earnings and 9.8x forward earnings.
- 1-year total return: +43.8% (dividends reinvested)
- 5-year return: +5.3% a year
- 52-week range: $21.11 – $36.28
- Dividend yield: 4.25%, 37 straight years of increases
- FI Handbook report card: B+ across 5 metrics
- 69th largest of 76 Financials stocks in the S&P 500
BEN price chart
1Y price change: +37.0% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| BEN | -4.1% | +34.6% | +43.8% | +17.9% | +5.3% | +4.1% | +17.9% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 1983.
BEN key statistics
- Market cap
- $15.8B
- #445 in S&P 500
- P/E (TTM)
- 21.1x
- Forward P/E
- 9.8x
- EPS (TTM)
- —
- Revenue (TTM)
- —
- Free cash flow
- $231.6M
- Gross margin
- —
- Operating margin
- —
- Return on equity
- —
- Dividend yield
- 4.25%
- 52-week range
- $21.11 – $36.28
- Beta
- —
- Price / sales
- —
- EV / EBITDA
- —
- Debt / equity
- —
- Employees
- —
BEN report card
B+Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth——
- Gross margin——
- Operating margin——
- FCF margin——
- Return on equity——
- Net debt / EBITDA0.0xA
- Forward P/E9.8xA
- PEG ratio0.4xA
- Shareholder yield5.8%A
- Share count change / yr1.0%D
Franklin Templeton financials
Revenue went from $6.6B in fiscal 2016 to $8.8B in fiscal 2025, growing 3.2% a year.
| 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 |
| Operating income | $2.4B | $2.3B | $2.0B | $1.5B | $1.0B | $1.9B | $1.8B | $1.1B | $407.6M | $604.1M |
| Net income | $1.7B | $1.7B | $764.4M | $1.2B | $798.9M | $1.8B | $1.3B | $882.8M | $464.8M | $524.9M |
| EPS (diluted) | $2.94 | $3.01 | $1.39 | $2.35 | $1.59 | $3.57 | $2.53 | $1.72 | $0.85 | $0.91 |
| Free cash flow | $1.6B | $1.1B | $2.1B | $34.8M | $979.6M | $1.2B | $1.9B | $940.4M | $794.2M | $911.6M |
| Buybacks | $1.3B | $765.3M | $1.4B | $754.5M | $218.2M | $208.2M | $180.8M | $256.3M | $274.4M | $240.3M |
| Dividends paid | $408.7M | $441.2M | $2.1B | $518.6M | $533.2M | $559.7M | $583.1M | $607.3M | $656.4M | $683.7M |
| Diluted shares | 583.8M | 559.1M | 538.0M | 504.3M | 492.4M | 490.6M | 489.3M | 490.8M | 510.3M | 517.4M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into BEN?
A reverse DCF asks what growth the current price requires. With an enterprise value of $15.8B and $231.6M of trailing free cash flow, Franklin Templeton needs to grow free cash flow about 43.2% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew -1.4% a year over the last five years.
P/E ratio history
Current 34.1x vs. median 14.6x (10th–90th percentile 9.1x–26.3x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
BEN dividend
- Dividend yield
- 4.25%
- Annual dividend
- $1.32
- Years of increases
- 37
- 5-yr dividend growth
- 3.4%
- per year
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
BEN analyst price targets
13 analysts' average 12-month target is $35.46 (+14% vs. $31.06). Targets range from $26.00 to $40.00. 31% rate it a buy.
BEN earnings
Next report: November 6, 2026. Franklin Templeton has beaten EPS estimates 4 quarters in a row. Last quarter's revenue was $2.4B (+14% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Jul 31, 2026 | $0.66 | $0.72 | +8.3% |
| Apr 28, 2026 | $0.55 | $0.71 | +28.6% |
| Jan 30, 2026 | $0.55 | $0.70 | +27.5% |
| Nov 7, 2025 | $0.59 | $0.67 | +14.0% |
| Aug 1, 2025 | $0.50 | $0.49 | -2.3% |
| May 2, 2025 | $0.47 | $0.47 | -0.6% |
| Jan 31, 2025 | $0.53 | $0.59 | +11.4% |
| Nov 4, 2024 | $0.59 | $0.59 | -0.7% |
Stocks like BEN
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
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 BNY Bank of New York Mellon Cor | -0.03% | +39% | $97.8B | 16.1x | Compare |
 KKR KKR | -1.88% | -24% | $84.4B | 29.2x | Compare |
 APO Apollo Global Management | -1.74% | -7% | $66.6B | 40.4x | Compare |
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 AMP Ameriprise Financial | -0.93% | +4% | $43.5B | 11.9x | Compare |
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BEN news
- Franklin Templeton Prepares Nasdaq Debut For ETFs That Turn Stock Dividends Into Bitcoin · Oct 24, 2026
- Franklin Templeton Just Put $150 Million on the XRP Ledger. Why Is It All in One Wallet? · Oct 24, 2026
- Franklin Templeton Announces Distributions for Certain Closed-End Funds Pursuant to their Managed Distribution Policy for the Months of October, November and December 2026 · Oct 14, 2026
- Franklin Templeton Announces Distributions for Certain Closed-End Funds for the Months of October, November and December 2026 · Oct 14, 2026
- Franklin Templeton and Benefit Street Partners Expand Asset-Backed Finance Capabilities with Encina Lender Finance Transaction · Oct 14, 2026
BEN stock FAQ
What is BEN's market cap?
Franklin Resources's market capitalization is $15.78 billion as of October 23, 2026, ranking 445th in the S&P 500.
What is BEN's P/E ratio?
BEN trades at a trailing price-to-earnings ratio of 21.1x and a forward P/E of 9.8x. Its median P/E over the period we track is 14.6x.
Does BEN pay a dividend?
Yes. Franklin Resources pays $1.32 per share a year, a 4.25% yield. It has raised its dividend 37 years in a row. Dividends grew 3.4% a year over the last five years.
How much has BEN stock returned?
Including reinvested dividends, BEN returned +43.8% over one year, +5.3% a year over five years, +4.1% a year over ten years through October 23, 2026.
Is BEN stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies Franklin Resources must grow free cash flow about 43% a year for the next decade. Its free cash flow fell 1% a year over the last five years. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
What is the BEN price target?
13 analysts cover BEN with an average 12-month price target of $35.46, +14% from the current price. 31% of them rate it a buy.
When does BEN report earnings?
Franklin Resources is expected to report earnings on November 6, 2026. It has beaten EPS estimates 4 quarters in a row.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology