Franklin Resources Inc (BEN)

Investment Advice

Latest Price

$32.12

TTM P/E

21.85

Normalized P/E

20.99

Div Yield

4.08%

Book Value

22.59

P/B Ratio

1.42

Valuation metrics

EPS: $0.91

Book value / share: $23.18

Formula: √(22.5 × EPS × BVPS)

Graham Number

$21.79

32% downside

Norm. op. income: $1.1B (median of 7yr)

Tax rate: 23%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$18.64

42% downside

Base FCF: $990M (median of recent 5yr)

Growth: 15%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$69.31

+116% upside

EPS: $0.91

Target P/E: 21×

Formula: EPS × P/E

P/E Fair Value

$19.11

41% downside

48.0% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	28.91M	$961.0M	5.70%	+143.1K	2026-06-30
Vanguard Capital Management LLC	20.14M	$669.0M	3.97%	+47.0K	2026-06-30
State Street Corp	19.73M	$662.0M	3.89%	+119.8K	2026-06-30
Vanguard Portfolio Management LLC	13.74M	$456.0M	2.71%	-108.6K	2026-06-30
Invesco Ltd.	12.09M	$402.0M	2.38%	-1.47M	2026-06-30
Dimensional Fund Advisors LP	10.22M	$340.0M	2.01%	-635.5K	2026-06-30
Geode Capital Management, LLC	7.91M	$262.0M	1.56%	+100.9K	2026-06-30
Goldman Sachs Group Inc	7.26M	$241.0M	1.43%	-185.9K	2026-06-30
Azora Capital LP	6.91M	$229.0M	1.36%	+1.81M	2026-06-30
ProShare Advisors LLC	6.02M	$200.0M	1.19%	-534.0K	2026-06-30