BEN

Franklin Resources, Inc.

Financial ServicesAsset ManagementNASDAQ

$31.02

+$0.16 (0.52%)today

Conviction

5/ 10

Fair Value$27

Upside-12.96%

Signal0

Market Cap$13.0B

52W Range$16.25–$28.32

Next EarningsApr 28

Conviction History

Conviction Changes

Mar 18, 2026, 5:05 AM7→5conviction-rescore

Mar 13, 2026, 5:07 AM6→7sec-read

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Price History

FAIR VALUE ANALYSISMonte Carlo · 5,000 runs · 98% valid

Fair Value$7.94

Current Price$22.75

Upside / Down-65.1%

P(Undervalued)0.0%

P(20%+ Up)0.0%

P(15%+ Down)99.3%

Fair Value Distribution — percentile bands

0.0% of simulations place fair value above current price

WHAT IS PRICED IN

Revenue-Based Reverse DCF

13.4%/yr

±4.2% · revenue growth to justify current price

FCF-Based Reverse DCF

16.7%/yr

±3.1% · FCF growth to justify current price

THE GAP

Market pricing margin compression or rising capex

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Bull Case

Franklin Templeton AUM fee revenue; Western Asset Management fixed income; alternative strategies.

Bear Case

Active management fee compression; outflow risk in underperforming funds; distribution challenges.

Updated Apr 7

Research Feed

sec_10qMar 13

Conviction: unchanged

Q1 FY2026 10-Q: Thesis Validating — Margin at 25%, Flows Inflect Positive, WAM Resolving

Adjusted margin hits exactly 25% thesis target. Net flows turned positive (+$26.8B) — first meaningful inflection in years. WAM DOJ heading to non-criminal resolution (CFTC closed). EPS +19% YoY on ad...

sec_10qMar 4

Conviction: unchanged

Q1 FY2026 Analysis: Margin Expansion & WAM Headwinds

BEN: margin-accretive Q1 on AUM scale, but WAM scandal clouds growth outlook. Fixed income headwinds. Fair value ~$28-32 on base case, depends on litigation resolution.