Latest revenue
$2.29B
as of 2026-03-31
Latest net income
$268.2M
as of 2026-03-31
Net margin
11.7%
as of 2026-03-31
Price · 5Y
Live market
delayed ≤15 min- Market cap
- $15.60B
- Enterprise value
- $15.28B
- P/E (trailing)
- 29.7×
- Forward P/E
- —
- P/B
- 1.29×
- Dividend yield
- 4.2%
- 52-wk high
- $32.44
- 52-wk low
- $21.06
- Beta
- —
- Shares out
- 502.9M
5-year trend
What this company does
Franklin Resources is a global asset manager operating under the Franklin Templeton umbrella, running equity, fixed income, alternative, multi-asset, and cash management strategies across brands like Western Asset, ClearBridge, and Lexington Partners. It earns fees primarily tied to $1.68 trillion in assets under management, plus fund administration and shareholder servicing revenue. Franklin is pushing deeper into alternatives—buying European private credit firm Apera in October 2025—while managing fallout from Western Asset Management regulatory investigations that threaten outflows and reputational damage.
Key risks
- Western Asset Management investigations remain unresolved and could trigger fines, settlements, AUM outflows, and material reputational harm impacting stock price.
- Fixed income AUM declined 3% YoY to $434.3B (down 10% on 6-month average), reflecting persistent outflows in a key franchise.
- AUM/revenue highly sensitive to markets: S&P 500 fell 4.3% and global bonds declined 1.1% in the quarter, pressuring fees.
Profitability
Operating margin
6.9%
43.3%Net margin
6.0%
9.2%Return on equity
4.3%
17.0%Return on assets
1.6%
13.3%Leverage
Debt / equity
1.68×
5.3%Long-term debt / equity
0.20×
12.0%Debt / assets
62.7%
2.0%Earnings tracker
| Quarter | Revenue | YoY | Net income | YoY | Net margin |
|---|---|---|---|---|---|
Q1 2026 2026-03-31 | $2.29B | +8.7% | $268.2M | +77.1% | 11.7% |
Q4 2025 2025-12-31 | $2.33B | +3.4% | $255.5M | +56.2% | 11.0% |
Q3 2025 2025-09-30 | $2.34B | +6.0% | $117.6M | +238.8% | 5.0% |
Q2 2025 2025-06-30 | $2.06B | -2.8% | $92.3M | -47.0% | 4.5% |
Q1 2025 2025-03-31 | $2.11B | -1.9% | $151.4M | +21.9% | 7.2% |
Q4 2024 2024-12-31 | $2.25B | +13.1% | $163.6M | -34.9% | 7.3% |
Q3 2024 2024-09-30 | $2.21B | — | $-84.7M | — | -3.8% |
Q2 2024 2024-06-30 | $2.12B | +7.8% | $174.0M | -23.5% | 8.2% |
Year-over-year change vs the same fiscal quarter one year prior. Revenue + net income sourced from SEC 10-Q / 10-K filings — no analyst-consensus dependency.
Industry trend
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Insider activity
Insider buying
$2.9M
Insider selling
$93.0M
Net activity
−$90.1M
Distinct insiders
2
Open-market trades over the last 365 days.
Recent transactions
Source: SEC Form 4 filings. Officers, directors, and 10%+ owners must disclose share transactions within two business days. RSU grants and tax-withholding rows are excluded by default — compensation activity is not a trading signal.
Who owns BEN
Institutional value
$3.56B
Total shares held
152.6M
Distinct holders
419
As of
2026-03-31
Filers with $100M+ AUM disclose holdings 45 days after quarter end.
Top institutional holders
| # | Manager | Shares | Value | QoQ change | Action |
|---|---|---|---|---|---|
| 1 | BlackRock, Inc. | 28.8M | $679.5M | — | New |
| 2 | VANGUARD CAPITAL MANAGEMENT LLC | 20.1M | $474.5M | — | New |
| 3 | VANGUARD PORTFOLIO MANAGEMENT LLC | 13.8M | $327.0M | — | New |
| 4 | Invesco Ltd. | 13.6M | $320.4M | — | New |
| 5 | DIMENSIONAL FUND ADVISORS LP | 10.9M | $256.5M | — | New |
| 6 | ProShare Advisors LLC | 6.6M | $154.9M | — | New |
| 7 | Artemis Investment Management LLP | 4.9M | $115.3M | — | New |
| 8 | Bank of New York Mellon Corp | 4.6M | $108.3M | — | New |
| 9 | Kopernik Global Investors, LLC | 3.5M | $83.2M | — | New |
| 10 | JUPITER ASSET MANAGEMENT LTD | 2.7M | $63.1M | — | New |
| 11 | UBS Group AG | 2.4M | $57.7M | — | New |
| 12 | JPMORGAN CHASE & CO | 2.1M | $48.2M | — | New |
| 13 | Vest Financial, LLC | 2.0M | $48.0M | — | New |
| 14 | FIRST TRUST ADVISORS LP | 1.8M | $43.5M | — | New |
| 15 | VANGUARD FIDUCIARY TRUST CO | 1.7M | $40.9M | — | New |
| 16 | NOMURA ASSET MANAGEMENT CO LTD | 1.5M | $35.6M | — | New |
| 17 | Allianz Asset Management GmbH | 1.3M | $31.9M | — | New |
| 18 | WEDGE CAPITAL MANAGEMENT L L P/NC | 1.2M | $29.5M | — | New |
| 19 | DEUTSCHE BANK AG\ | 1.2M | $29.0M | — | New |
| 20 | UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | 1.1M | $26.9M | — | New |
Source: SEC Form 13F-HR. Positions aggregated across sub-managers within each firm. Options (puts/calls) excluded — common stock only.
Top questions investors are asking
- 1
With Western Asset investigations still unresolved, what is your current estimate of potential fines, settlements, and associated WAM-driven outflows embedded in guidance?
- 2
GAAP operating margin of 14.1% versus adjusted 27.1% implies $151M in addbacks this quarter—what's the runoff timeline for these 'adjustments'?
- 3
AUM grew 9% YoY to $1.68T but revenue only 9%—are fee rates compressing in fixed income post-WAM, and by how many basis points?