Franklin Resources
Franklin Templeton Inc. is a publicly owned asset investment manager. 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. Th…
Franklin Templeton Inc. is a publicly owned asset investment manager. 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 Calgary, Alberta; Dubai, United Arab Emirates; Edinburgh, Midlothian; Fort Lauderdale, Florida; Hyderabad, India; London, Greater London; Rancho Cordova, California; Shanghai, Shanghai Province; Singapore; Stamford, Connecticut; and Vienna.Looks overvalued
Other models: USD 12.35–20.49 (median 13.89). The recommended value is in line with them.
Why: Banks and insurers earn their money on their balance sheet, so value follows book value and how much the company earns on it (return on equity).
Details and the full model are below.
Market price above modeled range
Justified P/B (ROE) using Fiscal year 2025 net income and book equity: return on equity of 4.3% gives a fair price-to-book of 0.30x, with 2.14% growth (capped at the terminal rate) and 9.6% discount. The range varies growth and discount by 1 percentage point; it is illustrative, not a statistical confidence interval or investment advice. Low confidence: the modelled value is far from the market price, which usually means the model does not capture this company well (for example expected growth well above its history).
Assumptions: growth 2.14%, discount rate 9.60%, terminal growth 2.40% (sector defaults). See a worked example.
Blended growth assumption: 2.1% (sector default 5.4%, own revenue history 1.0%, analyst revenue consensus 1.1%).
5-year outlook: relative outlook of about 1.4% a year (High confidence), anchored to a 7% market return and adjusted for how this company ranks against others. A ranking aid, not a prediction. See the full forecast.
Analyst consensus expects revenue growth of 1.1% a year; the growth assumption used is 2.1%.
Adjust assumptions
Why this model: Banks and insurers earn their money on their balance sheet, so value follows book value and how much the company earns on it (return on equity).
Compare models- Recommended: Justified P/B (ROE) — USD 6.90 (-78.6%)
-
EPS-based Gordon proxy
— USD 13.89 (-56.9%)
Not used: Treats all earnings as if paid out and ignores the cash kept for reinvestment, so it overstates value for companies that retain most profit.
-
DCF (trailing free cash flow)
— USD 20.22 (-37.2%)
Not used: Cash-flow models do not suit banks and insurers, whose cash flow is mostly funding and deposits.
-
FCFF (steady state)
— USD 20.49 (-36.4%)
Not used: Cash-flow models do not suit banks and insurers, whose cash flow is mostly funding and deposits.
-
EV/EBITDA (12x)
— USD 12.35 (-61.7%)
Not used: Used only when free cash flow is far below earnings even after averaging three years; a fixed 12x multiple also ignores sector differences.
-
Fade DCF (10-year growth fade)
— USD 20.23 (-37.2%)
Not used: Cash-flow models do not suit banks and insurers, whose cash flow is mostly funding and deposits.
-
EV/Sales (Rule of 40)
— USD 30.88 (-4.1%)
Not used: Used only for technology and communication companies whose cash-flow value is far below the price.
| Bear USD 5.16 | -524.7% |
| Base USD 6.90 | -366.6% |
| Bull USD 7.91 | -307.2% |
Margin = (value − price) / value, so it is measured against the value and reads lower than the upside to value, which is measured against the price. Positive means the price is below that case.
Track record: see the methodology page for how this model has performed historically, including its limits. Treat it as a screen, not a forecast.
Price history and fair value
No chartable saved daily price history is available for this range. The chart uses stored EODHD prices only and will appear after history is saved.
More detail: quality, peers, price history, dividends and financials
Quality score: 65 / 100
Five equal checks on reported history: profitability, cash generation, revenue growth, balance sheet and margins. It describes business quality, not whether the price is attractive.
| Profitability | 5 of 5 years profitable | 20 / 20 |
| Cash generation | free cash flow positive in 5 of 5 years | 20 / 20 |
| Growth | revenue +1.0% a year | 12 / 20 |
| Margins | EBITDA margin 8% | 0 / 20 |
Peers in Financials
Same-sector companies with a valuation, most undervalued first. Compare the margin of safety, yield and quality score side by side.
| Company | Price | Margin of safety | P/E | P/B | Yield | Quality |
|---|---|---|---|---|---|---|
| BEN (this company) | USD 32.21 | -366.6% | 31.7 | 1.4 | 4.0% | 65 |
| PSH.L Pershing Square Holdings, Ltd. | GBP 38.88 | 68.1% | 3.7 | 0.6 | 1.3% | 76 |
| LRE.L Lancashire Holdings Limited | GBP 6.89 | 45.5% | 7.1 | 1.6 | 3.3% | 76 |
| ACA.PA Credit Agricole S.A. | EUR 15.88 | 36.0% | 6.8 | 0.7 | 6.9% | 78 |
| PRU.L Prudential plc | GBP 9.29 | 33.7% | 8.1 | 1.6 | 1.9% | 78 |
| V Visa Inc. | USD 422.59 | 33.3% | 8.9 | – | 0.2% | 100 |
| AGS.BR ageas SA/NV | EUR 77.60 | 32.5% | 8.2 | 1.5 | 5.0% | 76 |
| SYF Synchrony Financial | USD 74.07 | 29.9% | 7.2 | 1.4 | 2.1% | 100 |
| NWG.L NatWest Group plc | GBP 5.92 | 29.6% | 8.3 | 1.3 | 4.9% | 88 |
| Peer median | 7.6 | 1.4 | ||||
Dividends
Paid in the last 12 months: USD 1.32 per share · yield 4.10% at the current price.
| Year | Dividends per share |
|---|---|
| 2026 (so far) | 0.990 |
| 2025 | 1.290 |
| 2024 | 1.560 |
| 2023 | 0.900 |
| 2022 | 1.170 |
| 2021 | 1.130 |
Annual financial statement
Saved annual report · Fiscal year 2025 · SEC EDGAR annual filings · period ended 30 Sep 2025
| Revenue | USD 8,770,700,000 |
|---|---|
| EBITDA | USD 729,400,000 |
| EBIT | USD 604,100,000 |
| Net income | USD 524,900,000 |
| Free cash flow | USD 911,600,000 |
| Capital expenditures | USD -154,500,000 |
| Debt | USD 2,362,000,000 |
| Cash | USD |
| Working capital | USD |
| Shares outstanding | 517,400,000 |
| Reported dividends per share | USD 1.2800 |