Financial Services › Asset Management

Franklin Resources, Inc. (BEN) Stock Overview

Market Cap: $12.45B

Franklin Resources, Inc. is a publicly owned asset investment manager. Through its subsidiaries, the firm provides its services to individuals, institutions, pension plans, trusts, and partnerships.

Mar 19, 2026$23.87

1Y +18.9%

Rewards

★PEG ratio of 0.36 suggests the stock is undervalued relative to its growth rate — paying less than 1x for each unit of earnings growth.

Risks

⚠Buybacks have been poorly timed — 3 out of 4 years involved repurchases at relatively expensive valuations.
⚠FCF yield of 7.3% suggests reasonable valuation assuming continued moderate growth.
⚠Altman Z-Score of 1.41 places the company in the distress zone — financial patterns resemble those of companies that experienced bankruptcy.

BEN Key Valuation Metrics

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Free Cash Flow

$911.60M

FCF Yield

7.32%

Trailing P/E

22.10

Forward P/E

8.17

ROIC

6.44%

ROE

3.65%

Gross Margin

37.04%

PEG Ratio

0.36

Debt / Equity

0.25

Interest Coverage

N/A

Net Debt / EBITDA

0.51

Dividend Yield

5.53%

BEN Historical Fundamentals

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Price ÷ Earnings Per Share — how many years of current earnings you're paying for at today's price. Lower P/E may indicate undervaluation.

BEN $1 Retained Earnings Test

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N/A

Net losses over 3 years — test not applicable

Company had negative cumulative retained earnings

Σ Retained

$-74.9M

Δ Market Cap

$-733.3M

Δ Earning Power

$-8.52B

Buffett's "$1 Test": For every $1 retained, how much value did management create?
Market Value = market's verdict (mood-sensitive) · Earning Power = owner earnings / discount rate (mood-independent)

BEN Discounted Cash Flow (DCF) Analysis

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3.7% Margin of Safety

Price is 3.7% below estimated fair value

Current Price: $23.87

Strongly undervalued

Undervalued

Fairly valued

Overvalued

Strongly overvalued

Fair Value: $24.78

Strongly undervalued

Undervalued

Fairly valued

Overvalued

Strongly overvalued

Parameter	Min (Bear)Value	BaseValue	Max (Bull)Value
Initial Cash Flow
Growth Rate (Yr 1-5)	%	%	%
Growth Rate (Yr 6-10)	%	%	%
Terminal Growth Rate	%	%	%
Discount Rate	%	%	%
	Bear Case $16.75 Implied EV: $9.60B	Base Case $24.78 Implied EV: $13.78B	Bull Case $32.64 Implied EV: $17.89B

Reverse DCF — Market-Implied Growth

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What growth rate is the market pricing in at $24?

+10.9%

Market-Implied Owner Earnings Growth

Standard FCF implies +3.4%

The market implies +10.9% Owner Earnings growth, above historical trends.

Standard FCF implies a demanding +3.4%, reflecting heavy growth investment.

BEN Economic Moat Score

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47/100

Narrow Moat

70+ Wide · 40-69 Narrow · <40 None

Narrow moat with reinvestment efficiency as the key competitive advantage. Improving roic consistency would strengthen the moat.

Composite score measuring competitive advantage durability across four dimensions: returns above cost of capital, pricing power stability, revenue predictability, and capital efficiency. Based on 4 years of fundamental data.

BEN Forensic Accounting

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-2.53

Unlikely Manipulator

Above -1.78 = likely manipulator · -2.22 to -1.78 = grey zone

M-Score Trend

Beneish's 8-variable model estimates the probability of earnings manipulation. An M-Score above -1.78 signals elevated risk — companies in this range have historically been 3-5× more likely to be manipulating earnings. Scores between -2.22 and -1.78 fall in a grey zone warranting further investigation.

BEN Management & Board

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Mr. Gregory Eugene Johnson CPA

Executive Chairman of the Board · Age 64

$2.27M

total pay

Ms. Jennifer M. Johnson

CEO & Director · Age 61

$7.89M

total pay

Mr. Matthew Nicholls

Co-President, CFO & COO · Age 52

$5.55M

total pay

Mr. Terrence James Murphy

Co-President & Head of Public Market Investments · Age 57

$12.39M

total pay

Mr. Daniel Ernesto Gamba CFA

Co-President & Chief Commercial Officer · Age 56

Mr. Avinash Deepak Satwalekar CFA

President of India

Ms. Lindsey Harumi Oshita

Senior VP & Chief Accounting Officer · Age 42

Ms. Selene Oh

Head of Investor Relations

Mr. Thomas Clifton Merchant J.D.

Executive VP, General Counsel & Assistant Secretary · Age 56

Mr. Sandeep Singh

Head of CEEMEA & India

BEN Ownership

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Insiders 48.4%Institutions 48.1%Retail & Other 3.5%

No. of Institutional Holders808

High insider ownership aligns management incentives with shareholders — a key signal in Buffett-style analysis. Institutional concentration can indicate smart-money conviction but also crowding risk.

BEN Insider Buying Activity

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Buys (3M)

Buys (12M)

Total value (12M): $2.14M

JOHNSON CHARLES B

Beneficial Owner of more than 10% of a Class of Security

$1.06M

@ $21.20 · 2025-11-20

JOHNSON CHARLES B

Beneficial Owner of more than 10% of a Class of Security

$1.07M

@ $21.49 · 2025-11-18

JOHNSON CHARLES B

Beneficial Owner of more than 10% of a Class of Security

$7,442

@ $17.72 · 2025-04-04

JOHNSON CHARLES B

Beneficial Owner of more than 10% of a Class of Security

$1.96M

@ $19.57 · 2025-03-04

JOHNSON CHARLES B

Beneficial Owner of more than 10% of a Class of Security

$1.91M

@ $19.08 · 2024-09-11

JOHNSON CHARLES B

Beneficial Owner of more than 10% of a Class of Security

$1.98M

@ $19.84 · 2024-08-29

JOHNSON JENNIFER M

Chief Executive Officer

$249,738

@ $19.66 · 2024-08-28

JOHNSON JENNIFER M

Chief Executive Officer

$396,021

@ $20.95 · 2024-08-23

JOHNSON CHARLES B

Beneficial Owner of more than 10% of a Class of Security

$4.56M

@ $22.80 · 2024-06-21

JOHNSON CHARLES B

Beneficial Owner of more than 10% of a Class of Security

$2.23M

@ $22.29 · 2024-06-18

Open market purchases · includes direct & indirect ownership · excludes option exercises

BEN Insider Selling Activity

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Sells (3M)

Sells (12M)

Total value (12M): $7,379

JOHNSON CHARLES B

Beneficial Owner of more than 10% of a Class of Security

$7,379

@ $17.57 · 2025-04-04

Direct ownership only · excludes indirect, option exercises, planned (10b5-1) sales & derivatives

BEN 🎭 Mr. Market's Mood

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😐Neutral(46/100)

"Market is pricing this stock without strong emotion in either direction"

Composite sentiment score based on 6 market signals. Inspired by Buffett's "Mr. Market" allegory — fear = potential opportunity, greed = potential risk. Must be used alongside fundamental analysis, not in isolation.

BEN ⚖️ Buffett Signal

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⚪Awaiting DCF Data

The Buffett Signal cross-references market sentiment with DCF valuation. Configure the DCF Analysis above to generate a signal.

DCF Margin of Safety: N/AMr. Market's Mood: Neutral (46)

BEN Investment Checklist & Notes

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Do I understand this business?

Does it have a durable competitive advantage (moat)?

Is management honest and competent?

Is management allocating capital rationally?

Is the price reasonable (margin of safety)?

Is this within my circle of competence?

Auto-saved • Last updated: 3/20/2026, 4:30:26 AM

BEN Insider Buying Activity

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Buys (3M)

Buys (12M)

Total value (12M): $2.14M

JOHNSON CHARLES B

Beneficial Owner of more than 10% of a Class of Security

$1.06M

@ $21.20 · 2025-11-20

JOHNSON CHARLES B

Beneficial Owner of more than 10% of a Class of Security

$1.07M

@ $21.49 · 2025-11-18

JOHNSON CHARLES B

Beneficial Owner of more than 10% of a Class of Security

$7,442

@ $17.72 · 2025-04-04

JOHNSON CHARLES B

Beneficial Owner of more than 10% of a Class of Security

$1.96M

@ $19.57 · 2025-03-04

JOHNSON CHARLES B

Beneficial Owner of more than 10% of a Class of Security

$1.91M

@ $19.08 · 2024-09-11

JOHNSON CHARLES B

Beneficial Owner of more than 10% of a Class of Security

$1.98M

@ $19.84 · 2024-08-29

JOHNSON JENNIFER M

Chief Executive Officer

$249,738

@ $19.66 · 2024-08-28

JOHNSON JENNIFER M

Chief Executive Officer

$396,021

@ $20.95 · 2024-08-23

JOHNSON CHARLES B

Beneficial Owner of more than 10% of a Class of Security

$4.56M

@ $22.80 · 2024-06-21

JOHNSON CHARLES B

Beneficial Owner of more than 10% of a Class of Security

$2.23M

@ $22.29 · 2024-06-18

Open market purchases · includes direct & indirect ownership · excludes option exercises

BEN Insider Selling Activity

Learn more →

Sells (3M)

Sells (12M)

Total value (12M): $7,379

JOHNSON CHARLES B

Beneficial Owner of more than 10% of a Class of Security

$7,379

@ $17.57 · 2025-04-04

Direct ownership only · excludes indirect, option exercises, planned (10b5-1) sales & derivatives

BEN Investment Checklist & Notes

Learn more →

Do I understand this business?

Does it have a durable competitive advantage (moat)?

Is management honest and competent?

Is management allocating capital rationally?

Is the price reasonable (margin of safety)?

Is this within my circle of competence?

Auto-saved • Last updated: 3/20/2026, 4:30:26 AM

Franklin Resources, Inc. (BEN) Stock Overview

Rewards

Risks

BEN Key Valuation Metrics

BEN Historical Fundamentals

BEN $1 Retained Earnings Test

BEN Discounted Cash Flow (DCF) Analysis

Reverse DCF — Market-Implied Growth

BEN Economic Moat Score

BEN Forensic Accounting

M-Score Trend

BEN Management & Board

BEN Ownership

BEN Insider Buying Activity

BEN Insider Selling Activity

BEN 🎭 Mr. Market's Mood

BEN ⚖️ Buffett Signal

Compare BEN

BEN Investment Checklist & Notes

BEN Insider Buying Activity

BEN Insider Selling Activity

BEN Investment Checklist & Notes