Franklin Resources Inc (BEN) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of Franklin Resources Inc stock $13.43, price $32.21, that is 58.3% below the price, quality 58 out of 100. Rating: strongly overvalued. Calculated from audited financials with 13 of our 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.
How to read this chart
60‑month range $15.60 – $35.77 · fair‑value band $10.07 – $16.79 · the $32.21 price screens above the $13.43 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.
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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. It launches equity, fixed income, balanced, and multi-asset mutual funds through its subsidiaries.
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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.
Stock analysis
Franklin Resources Inc (BEN) currently trades at $32.21, while our model-based Fair Value estimate is $13.43, 58% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of $17.22 per share, and 0 of the 13 models we run sit above the $32.21 price.
Bear case: the Asset-Based group reads lowest at $2.25, and 13 of the 13 models stay below the price. Data coverage for this calculation is high.
Scenario range: $10.07 (bear) to $16.79 (bull), the price of $32.21 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 58/100 (solid quality), in the Financial Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Franklin Resources Inc reported revenue of $8.8B in FY2025 versus $8.4B in FY2021, a compound +1.0%/yr. Reported net income was $525M in FY2025, compounding −26.8%/yr from FY2021.
Key figures
Market cap $16.6B Large · P/E ratio 21.9 · P/S ratio 1.78 · EPS (TTM) $1.47 · Dividend yield 4.1% · Net margin 8.7% · Return on equity 7.9% · Return on assets (EBIT) 4.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 43 out of 100 (low confidence).
What moves the price
The share trades about 10% below its 52-week high and 58% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −16% fair-value upside, at −58%, BEN screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely ($0.9600 to $21.27). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear$10.07Fair Value $13.43Bull$16.79
Price $32.21 · Downside -58.3%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 12 months old). Earnings retained since then ($0.1600 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
In the last 6 months, no officer or director bought or sold shares on the open market.
BuyCharles B Johnson10% owner2× since Nov 18, 2025: 100,000 shares, avg. $21.35$2.1MNov 20, 2025
Plus 19 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.80/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+3.5%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+2.0%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+9.5%
Start year 2020 (pandemic). Over 10 years: +1.0% a year
Revenue growth 40 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+13.1%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: adjusted.
−5.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−9.2%
Dividend (yield on the price)4.1%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−15.5% vs −11.1%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.19% → 7%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+18.0%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+0.9%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +15.2% a year for the price and −1.5% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (88 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
AI conclusion: Modest competitive positioning rests on long-term inflows and alternatives growth, yet thin signals of durable advantage and low returns on equity remain the core limitation.
Main risk: Low-cost passive ETFs offered by BlackRock and Vanguard could continue to attract investors away from Franklin Templeton's higher-fee active funds, reducing assets under management and pressuring margins in traditional strategies.
Bull case: By accelerating its shift to active ETFs, alternatives and AI-augmented research, Franklin Templeton could win flows in expanding segments and strengthen its competitive position against passive giants.
Bear case: Should the shift to low-cost passive products accelerate further, Franklin Templeton might face sustained outflows from core active strategies, eroding scale and long-term profitability in asset management.
Our models see Franklin Templeton as overvalued. Assets under management fell in September from market effects, yet long-term inflows continued and alternatives kept expanding. The firm pushes tokenization, treating AI and crypto as complementary forces. Will these newer areas deliver more stability than traditional asset management exposes to market volatility?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Asset Management · 593 stocks
Beats the industry median on 5/15 measures
Overall it trails its industry peers.
Valuation
Quality Score58 · Below median
Fair Value upside−58.3% · Bottom 25%
Profitability
Return on equity (12 months)7.9% · Above median
Return on assets1.6% · Below median
Net margin (12 months)8.7% · Bottom 25%
Operating margin (12 months)13.0% · Below median
Growth and dividend
Revenue growth (quarter YoY)14.3% · Above median
Dividend yield (12 months)4.1% · Above median
Balance sheet
Debt / equity1.02× · Highest 25%
Valuation Multiplesvs Asset Management median · lower = cheaper
P/E (12 months)21.9× · Priciest 25%
P/B1.38× · Pricier than median
P/S (12 months)1.78× · Cheapest 25%
Price / free cash flow18.2× · Pricier than median
EV/EBITDA14.1× · Pricier than median
PEG0.41× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 59
FUTURE (revenue growth)72· sector 39
PAST (return on equity)32· sector 30
HEALTH (low debt)49· sector 96
DIVIDEND (yield)81· sector 80
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Franklin Resources Inc (BEN) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of $13.43 versus a price of $32.21, about 58% lower (overvalued).
What is the fair value of BEN?
Our model-based fair value for Franklin Resources Inc is $13.43 (as of Nov 6, 2026), built from audited fundamentals. The current price: $32.21.
What is the quality score of BEN?
Franklin Resources Inc has a Quality Score of 58/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Franklin Resources Inc (BEN)?
Our model-based price target is the fair value of $13.43 (as of Nov 6, 2026) from 13 valuation models. Cautious scenario $10.07, optimistic scenario $16.79. It is a calculation from audited fundamentals, not an analyst target.
What is the Franklin Resources Inc stock forecast for 2026?
Our models put fair value at $13.43, about 58% lower versus a price of $32.21 (overvalued). Cautious scenario $10.07, optimistic scenario $16.79. The calculation is refreshed regularly with new filings.
What is the revenue of Franklin Resources Inc (BEN)?
Franklin Resources Inc reported trailing-twelve-month revenue of about $9.3B (latest available figure, as of Nov 6, 2026).
Does Franklin Resources Inc pay a dividend?
Franklin Resources Inc currently shows a dividend yield of 4.07% relative to its recent price (as of Nov 6, 2026).
What growth is priced into Franklin Resources Inc (BEN)?
For today's price to be fair in a discounted-cash-flow model, Franklin Resources Inc would have to grow free cash flow by +18.0 % per year for five years (discount rate 10.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +9.5 % per year. As of Nov 6, 2026.
What discount rate (WACC) does the fair value of BEN use?
Our models discount Franklin Resources Inc at 10.6 %: a base by market capitalisation (large), damped by beta 1.58, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Franklin Resources Inc that is +18.0 % per year a year over ten years, using the same discount rate (10.6 %) and the same formula as our fair value.
How much growth has Franklin Resources Inc (BEN) delivered so far?
Over the past 5 years revenue at Franklin Resources Inc grew +9.5 % a year. The price currently implies +18.0 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Franklin Resources Inc (BEN) growing?
The median revenue growth in the sector is +9.4 % a year. That is the yardstick for the growth priced into Franklin Resources Inc (+18.0 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Franklin Resources Inc (BEN)?
The free-cash-flow yield on the price is 5.48 %: that much free cash flow Franklin Resources Inc produces per unit of market value. When it exceeds the discount rate of our models (10.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Franklin Resources Inc (BEN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Franklin Resources Inc it is $13.43 per share (as of Nov 6, 2026), against a price of $32.21. It is the blended result of 13 valuation models (cash flow, earnings, asset, dividend).
Is Franklin Resources Inc stock overvalued or undervalued in 2026?
As of Nov 6, 2026, BEN trades above its calculated fair value: price $32.21, fair value $13.43, a gap of about −58% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of BEN?
No. The price is what the market pays today ($32.21); the fair value is what the company's own numbers justify ($13.43). For Franklin Resources Inc the two are $18.78 per share apart. That gap is exactly why we show both numbers side by side.
How much is Franklin Resources Inc worth?
The market values Franklin Resources Inc at about $16.6B (market capitalisation, as of Nov 6, 2026). Per share that is $32.21; our models calculate a fair value of $13.43 per share.
What do the bullish and bearish scenarios say about BEN?
Our models span a range for Franklin Resources Inc: cautious scenario $10.07, base $13.43, optimistic $16.79 per share (as of Nov 6, 2026, price $32.21). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BEN?
Franklin Resources Inc trades at a price-to-earnings ratio of 21.9 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $13.43 is built from several models across several years. Excluding one-off items of fiscal year 2025 it is 21.5 (reported for FY2025: 31.6). Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings, 8 of the years ex one-offs: 11.7. Other multiples: PEG 0.4, P/B 1.4, P/S 1.8, EV/EBITDA 14.1.
What is the PEG ratio of BEN?
The PEG ratio of Franklin Resources Inc is 0.41 (P/E divided by earnings growth, as of Nov 6, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Franklin Resources Inc (BEN)?
Balance-sheet figures for Franklin Resources Inc (as of Nov 6, 2026): return on equity 7.9%, debt of 1.02 per unit of equity. They feed the Quality Score of 58/100, which measures business quality independently of the share price.
How far is BEN from its 52-week high?
Franklin Resources Inc trades at $32.21, about 10% below its 52-week high of $35.77 and 58% above the low of $20.39 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of $13.43 is for.
Which stocks are comparable to Franklin Resources Inc?
From the same area (Financial Services) we also value Blackstone Inc, Brookfield Corporation, KKR & Co, Apollo Global Management, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Franklin Resources Inc stock attractive at the current price?
The data as of Nov 6, 2026: price $32.21, calculated fair value $13.43 (−58%), Quality Score 58/100, from 13 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of BEN calculated?
We run Franklin Resources Inc through 13 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $13.43, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.5% above its aggregate fair value. Franklin Resources Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Franklin Resources Inc (BEN)?
The closing price on Nov 5, 2026 was $32.21. Our model-based fair value is $13.43, about 58% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Franklin Resources Inc right now?
The price sits above even our optimistic bull case ($16.79). The favourable scenario is already priced in. Solid but not exceptional quality (58/100) and above fair value, neither a clear bargain nor a standout compounder. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Where does the earnings growth of Franklin Resources Inc (BEN) come from?
Earnings per share at Franklin Resources Inc grew −10.6 % a year from 2014 to 2025. Broken into its drivers: revenue per share +3.0 %, EBIT margin −15.3 %, tax rate +0.2 %, residual (interest, one-offs) +2.2 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Franklin Resources Inc
How large is the market capitalisation of Franklin Resources Inc (BEN)?
The market capitalisation of Franklin Resources Inc is $16.6B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Franklin Resources Inc (BEN)?
The price-to-sales ratio of Franklin Resources Inc is 1.78 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Franklin Resources Inc (BEN)?
Earnings per share at Franklin Resources Inc are $1.47 (price ÷ EPS = P/E 21.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Franklin Resources Inc (BEN)?
The dividend yield of Franklin Resources Inc is 4.1% (payout 60.6%, on adjusted earnings, reported 89.1%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Franklin Resources Inc (BEN)?
The net margin of Franklin Resources Inc is 8.7% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Franklin Resources Inc (BEN)?
The return on equity (ROE) of Franklin Resources Inc is 7.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Franklin Resources Inc (BEN)?
On an EBIT basis the return on assets of Franklin Resources Inc is 4.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Franklin Resources Inc (BEN)?
The operating margin of Franklin Resources Inc is 13.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Franklin Resources Inc (BEN)?
Revenue at Franklin Resources Inc is growing +14.3% versus a year earlier (3y avg +2.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Franklin Resources Inc (BEN)?
Earnings per share at Franklin Resources Inc are growing +107% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Franklin Resources Inc (BEN) carry?
The net debt of Franklin Resources Inc is $9.7B (fiscal year 2025, ≈ 10.7 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 6, 2026