---
title: Franklin Resources (BEN) — intrinsic value and fair price
canonical: https://sweetvaluelab.com/stocks/ben
ticker: BEN
as_of: 2026-10-17
sector: Financial Services
industry: Asset Management
---
# Franklin Resources (BEN)

Franklin Resources (BEN) closed at $30.98 on Oct 16, 2026, overvalued by 8% vs its model value of $28.61 (from its peers' median P/E).

## Key figures

| Figure | Value |
| --- | ---: |
| Last close | $30.98 (Oct 16, 2026) |
| Model value (from its peers' median P/E) | $28.61 |
| Price vs model | overvalued by 8% vs model |
| Range of that model | $21.43 – $35.44 |
| Market value | $15.7B |
| P/E (fiscal 2025) | 34.0 |
| Net margin (fiscal 2025) | 6.0% |
| Free cash flow (fiscal 2025) | $911.6M |
| Dividend yield (trailing twelve months) | 4.26% |
| Beta | 1.58 |
| Cost of capital (WACC) | 9.88% |
| Business classification | Dividend Payer (Low/slowing growth (~6% recent), Moderate margins (6% net margin), Strong dividend yield, Highly cyclical earnings, Strong FCF yield (5.8%)) |

## Dividends

| Figure | Value |
| --- | ---: |
| Trailing dividend yield | 4.26% |
| Dividends per share, last 12 months | $1.32 |
| Dividends / earnings (fiscal 2025) | 130.3% |
| Raised | 24 years in a row |
| Growth over 5 years | 3.2% a year |
| Latest payment | $0.33, ex-date Sep 30, 2026, paid Oct 9, 2026 |

| Year of payments | Dividends per share |
| --- | ---: |
| To Dec 30, 2021 | $1.13 |
| To Dec 29, 2022 | $1.17 |
| To Jan 2, 2024 | $1.21 |
| To Sep 30, 2024 | $1.24 |
| To Sep 30, 2025 | $1.28 |
| Trailing twelve months (to Sep 30, 2026) | $1.32 |

## Valuation models

Each model's value per share and the role the engine gave it for this business. The headline above is one model's value; every other model is listed with its own, and each has a page of its own under the valuation. Computed Oct 17, 2026.

| Model | Role | Value per share | Low | High |
| --- | --- | ---: | ---: | ---: |
| P/E · peers | primary | $28.61 | $21.43 | $35.44 |
| P/E · own history | cross check | $26.62 | $19.53 | $49.02 |
| PEG | sanity check | $72.48 | $72.48 | $72.48 |
| Dividend discount | cross check | $18.43 | $13.65 | $26.52 |

## Insider activity (SEC Form 4)

No open-market insider buys or sales filed in the past 90 days.

| Date | Insider | Relationship | Transaction | Shares | Value |
| --- | --- | --- | --- | ---: | ---: |
| Oct 13, 2026 | Merchant Thomas C | EVP, General Counsel | Grant / award | 19,244 | $600,027.9 |
| Oct 13, 2026 | Merchant Thomas C | EVP, General Counsel | Grant / award | 18,426 | — |
| Oct 13, 2026 | Murphy Terrence | Co-President, Public Markets | Grant / award | 3,689 | — |
| Oct 13, 2026 | Murphy Terrence | Co-President, Public Markets | Grant / award | 137,589 | $4.3M |
| Oct 13, 2026 | Nicholls Matthew | Co-President, CFO & COO | Grant / award | 117,420 | — |

## Recent SEC filings

| Filed | Form | What | Filing |
| --- | --- | --- | --- |
| Aug 10, 2026 | 8-K | 2.03 Creation of a Direct Financial Obligation; 8.01 Other Events; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/38777/000155278126000423/e26341_ben-8k.htm |
| Aug 7, 2026 | 424B5 | Prospectus supplement | https://www.sec.gov/Archives/edgar/data/38777/000155278126000413/e26333_ben-424b5.htm |
| Aug 5, 2026 | 424B5 | Prospectus supplement | https://www.sec.gov/Archives/edgar/data/38777/000155278126000403/e26324_ben-424b5.htm |
| Jul 31, 2026 | 10-Q | Quarterly report | https://www.sec.gov/Archives/edgar/data/38777/000003877726000217/ben-20260630.htm |
| Jul 31, 2026 | 8-K | 2.02 Results of Operations (Earnings); 5.03 Amendment to Articles/Bylaws; 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/38777/000003877726000215/ben-20260731.htm |

## Superinvestors holding it (latest 13F)

| Manager | Quarter | Shares | Value |
| --- | --- | ---: | ---: |
| Polen Capital | 2026-06-30 | 13,760 | $457,795 |
| Bridgewater | 2026-06-30 | 11,841 | $393,950 |

2 tracked managers in all.

## About

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. 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.

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Source: https://sweetvaluelab.com/stocks/ben (SweetValueLab, free, no account). Prices and statements from Financial Modeling Prep; filings from SEC EDGAR. Research and educational data, not investment advice; nothing here is a recommendation to buy, sell or hold any security.