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Franklin Resources

BEN
53
Asset Management · Financial Services
Also trades as: 0RT6.L GBP 0.31 (-1.20%)
Price
$31.52
-0.16 (-0.51%)
Market Cap
$16.01B
Winston Score
53
Winston is curious
Mixed quality — meaningful strengths and weaknesses.
Data as of Oct 23, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Mixed
11/30
Growth
Good
13/20
Cash Flow
Weak
2/10
Stability
Good
6/10
Valuation
Strong
7/10
Ownership
Good
10/15
Dividends
Strong
4/5

53 of 100 counted points = Winston Score 53.

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Share count rising — dilution

+5.1% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 490.6M (2021) → 515.4M (2025)

§Winston Score History

The full picture

Franklin Resources is an investment management company that manages money on behalf of individuals, retirement funds, and institutions around the world. It operates mainly under the Franklin Templeton brand and offers mutual funds, exchange-traded funds (ETFs), and other investment products across stocks, bonds, and alternative assets. The company is one of the largest independent asset managers in the United States.

Franklin Resources earns money by charging fees based on a percentage of the assets it manages — so when markets rise and clients add money, revenue grows, and when markets fall or clients withdraw, revenue shrinks. The company operates globally, with a significant presence in the Americas, Europe, and Asia, and manages roughly $1.6 trillion in assets. Its main competitive advantage is its long history and broad product lineup, but it faces real pressure from low-cost index funds and ETFs that are pulling investors away from the actively managed funds that Franklin Templeton depends on most.

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Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+14.3% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+106.7% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (7%)

Research and development spending

Insider Activity

47.1%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$19.3B cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

Franklin Resources is a rare growth stock that's already generating positive cash flow while growing at 14%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale
Gross Margin
54.2%
Healthy — 54.2% gross margin
Profit after running costs
Operating Margin
9.2%
Modest — 9.2% operating margin
Return on the money invested
ROCE
3.2%
Weak — 3.2% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth
Sales YoY
+7.9%
Steady sales growth (+7.9% YoY)
Profit growth
EPS YoY
+188.5%
Earnings growing fast (+188.5% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is
EPS Consistency
5/8 quarters
Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash
Cash Conversion
30%
Weak — only 30% of profit becomes cash
Spare cash per sale
FCF Margin
2.3%
Thin free cash flow (2.3%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns
Debt / Equity
1.42
Elevated debt (1.42)
Covers its interest
Interest Cover
10.17x
Comfortably covers interest (10.2x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
21.0x
Growth-priced — P/E 21.0

P/E above the market average. People are paying up for expected growth.

Cheaper or dearer next year
P/E vs Forward
+9.7
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (21.0 → 11.3)

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Dividends

Dividend
Dividend Yield
4.26%
Healthy income — 4.26% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend record
Dividend Growth
+3.1%
Dividend growing modestly (3.1% YoY)
Payout Ratio
77%
no trend
Most of the profit goes out as dividends. Little left to reinvest, and less cushion if earnings dip.

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