Franklin Templeton
BEN · NYSEInvestment Advice · Fiscal year ends Sep 30
Franklin Templeton reported revenue of $8.8B in the fiscal year ended Sep 2025, up 3.5% from the year before. Operating income was $604M, an operating margin of 6.9%, and net income was $525M. Operating cash flow of $1.1B less capital expenditure of $155M left free cash flow of $912M. It held more cash than debt (net cash $1.2B).
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Revenue | $8.4B | $8.3B | $7.8B | $8.5B | $8.8B |
| Operating income | $1.9B | $1.8B | $1.1B | $408M | $604M |
| Interest expense | $85M | $98M | $124M | $97M | $95M |
| Pre-tax income | $2.4B | $1.7B | $1.3B | $823M | $787M |
| Income tax | $350M | $396M | $312M | $215M | $238M |
| Net income | $1.8B | $1.3B | $883M | $465M | $525M |
| Diluted EPS | 3.57 | 2.53 | 1.72 | 0.85 | 0.91 |
| Diluted shares | 491M | 489M | 491M | 510M | 517M |
Balance sheet
| Fiscal year | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $4.6B | $4.8B | $4.4B | $4.4B | $3.6B |
| Net PP&E | $770M | $743M | $800M | $946M | $949M |
| Goodwill | $4.5B | $5.8B | $6B | $6.2B | $6.2B |
| Total assets | $24.2B | $28.1B | $30.1B | $32.5B | $32.4B |
| Long-term debt | $3.4B | $3.4B | $3.1B | $2.8B | $2.4B |
| Total liabilities | $11.4B | $14.2B | $16.5B | $17.9B | $18.2B |
| Shareholders' equity | $11.2B | $11.5B | $11.9B | $12.5B | $12.1B |
Cash flow
| Fiscal year | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $1.2B | $2B | $1.1B | $971M | $1.1B |
| Capital expenditure | $79M | $90M | $149M | $177M | $155M |
| Free cash flow | $1.2B | $1.9B | $940M | $794M | $912M |
| Depreciation & amortisation | $79M | $96M | $104M | $117M | $125M |
| Stock-based compensation | $172M | $208M | $183M | $246M | $215M |
| Acquisitions | $9M | $1.4B | $501M | −$175M | $0 |
| Share buybacks | $208M | $181M | $256M | $274M | $240M |
| Dividends paid | $560M | $583M | $607M | $656M | $684M |
| Dividend per share | 1.12 | 1.16 | 1.20 | 1.24 | 1.28 |
Key ratios
| Fiscal year | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | −1.8% | −5.1% | 8.0% | 3.5% |
| Operating income growth (YoY) | – | −5.4% | −37.9% | −63.0% | 48.2% |
| EPS growth (YoY) | – | −29.1% | −32.0% | −50.6% | 7.1% |
| Operating margin | 22.3% | 21.4% | 14.0% | 4.8% | 6.9% |
| Net margin | 21.7% | 15.6% | 11.2% | 5.5% | 6.0% |
| Return on equityBlank when equity is negative | 16.3% | 11.3% | 7.4% | 3.7% | 4.3% |
| Free cash flow margin | 13.8% | 22.6% | 12.0% | 9.4% | 10.4% |
| Cash conversion (CFO ÷ net income) | 0.68x | 1.51x | 1.23x | 2.09x | 2.03x |
| Interest cover | 22.0x | 18.1x | 8.91x | 4.19x | 6.37x |
| Debt ÷ equity | 0.30x | 0.29x | 0.26x | 0.22x | 0.20x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | −$1.2B | −$1.4B | −$1.3B | −$1.6B | −$1.2B |
Recent filings
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Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.