Franklin Resources, Inc. (BEN) Balance Sheet
BEN balance sheet, FY2025
September 30, 2025 · U.S. dollars$32.37B assets = $18.18B liabilities + $14.19B equity
Both columns are drawn to the same scale: what BEN owns equals what it owes plus shareholders’ equity. Hover a block for its value.
BEN financial health
Descriptive bands, not a rating. Fiscal FY2025.
BEN balance sheet trends, FY2016–FY2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $16.10BFY2016 | $32.37BFY2025 | +8.1%/yr | |
| Total liabilities | $3.51BFY2016 | $18.18BFY2025 | +20.1%/yr | |
| Shareholders’ equity | $11.94BFY2016 | $12.08BFY2025 | +0.1%/yr | |
| Cash & short-term investments | $8.48BFY2016 | $3.57BFY2025 | −9.2%/yr | |
| Total debt | $2.08BFY2016 | $13.30BFY2025 | +22.9%/yr | |
| Net cash (debt) | $6.40BFY2016 | −$9.73BFY2025 | −$16.1B | |
| Working capital | $8.94BFY2016 | $3.23BFY2025 | −$5.7B | |
| Book value per share | $20.45FY2016 | $23.43FY2025 | +1.5%/yr | |
| Current ratio | 27.46FY2016 | 2.71FY2025 | −24.74 | |
| Debt / equity | 0.17FY2016 | 1.10FY2025 | +0.93 | |
| Shares outstanding | 583.8MFY2016 | 515.4MFY2025 | −1.4%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
BEN assets
BEN liabilities and equity
BEN debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
BEN balance sheet
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $3.57B | $4.41B | $4.40B | $4.78B | $4.65B | $3.99B | $5.96B | $6.91B | $8.75B | $8.48B |
| Cash & equivalents | $3.57B | $4.41B | $4.40B | $4.78B | $4.65B | $3.99B | $5.96B | $6.91B | $8.75B | $8.48B |
| Short-term investments | — | — | — | $1.65B | $588.3M | $504.8M | $589.7M | $345.7M | $314.5M | $1.12B |
| Receivables | $1.54B | $1.48B | $1.35B | $1.26B | $1.43B | $1.23B | $839.0M | $847.9M | $1.00B | $794.3M |
| Inventory | $0 | $0 | $0 | $1 | $0 | $5.22B | $0 | −$345.7M | −$314.5M | −$1.12B |
| Other current assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $345.7M | $314.5M | $1.12B |
| Total current assets | $5.12B | $5.89B | $5.75B | $6.05B | $6.08B | $5.22B | $6.80B | $7.76B | $9.75B | $9.28B |
| Property, plant & equipment (net) | $1.71B | $1.77B | $1.21B | $1.21B | $1.22B | $1.35B | $683.7M | $535.0M | $517.2M | $523.2M |
| Goodwill & intangible assets | $10.37B | $11.01B | $10.91B | $10.86B | $9.17B | $9.41B | $2.99B | $2.33B | $2.23B | $2.21B |
| Long-term investments | $14.65B | $13.37B | $11.86B | $1.65B | $1.51B | $1.27B | $1.56B | $1.43B | $1.39B | $2.42B |
| Other non-current assets | $514.5M | $420.0M | $398.8M | $8.29B | $6.20B | $4.43B | $2.50B | $2.33B | $3.64B | $1.67B |
| Total assets | $32.37B | $32.46B | $30.12B | $28.06B | $24.17B | $21.68B | $14.53B | $14.38B | $17.53B | $16.10B |
| Liabilities | ||||||||||
| Accounts payable | $1.68B | $1.41B | $879.7M | $1.11B | $1.04B | $1.04B | $304.4M | $226.9M | $291.5M | $233.3M |
| Short-term debt | $1.00B | $79.9M | $349.9M | $155.5M | $202.2M | $621.0M | $50.8M | $32.6M | $5.8M | $392.8M |
| Deferred revenue | — | — | −$467.8M | — | −$518.4M | −$621.0M | −$747.7M | −$32.6M | −$5.8M | −$392.8M |
| Total current liabilities | $1.89B | $1.82B | $1.39B | $1.64B | $1.73B | $1.74B | $1.27B | $1.39B | $479.5M | $337.9M |
| Long-term debt | $11.82B | $12.12B | $11.00B | $3.38B | $3.40B | $3.02B | $696.9M | $695.9M | $1.04B | $1.40B |
| Lease obligations | $1.00B | $965.1M | $467.8M | $528.4M | $518.4M | $621.0M | — | — | — | — |
| Other long-term liabilities | $4.47B | $3.96B | $4.15B | $9.22B | $6.29B | $5.51B | $1.20B | $1.05B | $1.13B | $1.77B |
| Total liabilities | $18.18B | $17.90B | $16.55B | $14.24B | $11.42B | $10.27B | $3.16B | $3.13B | $2.66B | $3.51B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $52.1M | $52.4M | $49.6M | $50.0M | $50.2M | $49.5M | $49.9M | $51.9M | $55.5M | $57.0M |
| Retained earnings (deficit) | $11.52B | $11.93B | $12.38B | $12.05B | $11.55B | $10.47B | $10.29B | $10.22B | $12.85B | $12.23B |
| Treasury stock | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Accumulated other comprehensive income | −$447.1M | −$419.5M | −$509.3M | −$621.0M | −$377.6M | −$407.6M | −$431.6M | −$370.6M | −$284.8M | −$347.4M |
| Minority interest | $2.11B | $2.06B | $1.66B | $824.3M | $587.2M | $859.3M | $717.7M | $308.7M | $315.8M | $592.4M |
| Total shareholders' equity | $12.08B | $12.51B | $11.92B | $11.47B | $11.22B | $10.11B | $9.91B | $9.90B | $12.62B | $11.94B |
| Key figures | ||||||||||
| Total debt | $13.30B | $13.09B | $11.75B | $9.36B | $7.59B | $6.44B | $747.7M | $728.5M | $1.10B | $2.08B |
| Net cash (debt) | −$9.73B | −$8.68B | −$7.35B | −$4.58B | −$2.94B | −$2.45B | $5.21B | $6.18B | $7.65B | $6.40B |
| Working capital | $3.23B | $4.07B | $4.36B | $4.41B | $4.34B | $3.48B | $5.53B | $6.37B | $9.27B | $8.94B |
| Tangible book value | $1.71B | $1.49B | $1.01B | $613.9M | $2.06B | $699.5M | $6.91B | $7.57B | $10.39B | $9.72B |
| Book value per share | $23.43 | $24.51 | $24.28 | $23.45 | $22.88 | $20.56 | $19.64 | $18.40 | $22.57 | $20.45 |
| Shares outstanding | 515.4M | 510.3M | 490.8M | 489.3M | 490.6M | 491.9M | 504.3M | 538.0M | 559.1M | 583.8M |
| Current ratio | 2.71 | 3.24 | 4.13 | 3.70 | 3.51 | 3.00 | 5.37 | 5.58 | 20.34 | 27.46 |
| Quick ratio | 2.71 | 3.24 | 4.13 | 3.70 | 3.51 | 3.00 | 5.37 | 5.58 | 20.34 | 27.46 |
| Debt / equity | 1.10 | 1.05 | 0.99 | 0.82 | 0.68 | 0.64 | 0.08 | 0.07 | 0.09 | 0.17 |
| Equity / assets | 37.3% | 38.5% | 39.6% | 40.9% | 46.4% | 46.6% | 68.2% | 68.8% | 72.0% | 74.1% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $3.76B | $3.57B | $3.48B | $3.57B | $3.96B | $3.54B | $3.65B | $4.41B | $4.11B | $4.12B | $3.88B | $4.40B |
| Cash & equivalents | $3.76B | $3.57B | $3.48B | $3.57B | $3.96B | $3.54B | $3.65B | $4.41B | $4.11B | $4.12B | $3.88B | $4.40B |
| Short-term investments | — | — | — | — | — | — | — | — | −$11.63B | — | — | −$9.64B |
| Receivables | $1.57B | $1.43B | $1.45B | $1.54B | $1.72B | $1.45B | $1.39B | $1.48B | $1.57B | $1.45B | $1.47B | $1.35B |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1 | $0 | −$10.35B |
| Other current assets | $2.71B | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $10.35B |
| Total current assets | $8.03B | $5.00B | $4.93B | $5.12B | $5.68B | $4.99B | $5.04B | $5.89B | $5.68B | $5.57B | $5.35B | $5.75B |
| Property, plant & equipment (net) | $1.68B | $1.67B | $1.68B | $1.71B | $1.75B | $1.77B | $1.77B | $1.77B | $1.75B | $1.80B | $1.60B | $1.21B |
| Goodwill & intangible assets | $10.32B | $10.39B | $10.45B | $10.37B | $10.65B | $10.74B | $10.87B | $11.01B | $11.47B | $11.53B | $10.84B | $10.91B |
| Long-term investments | $18.24B | $16.38B | $14.91B | $14.65B | $14.04B | $14.09B | $14.29B | $13.37B | $13.86B | $13.53B | $11.68B | $11.86B |
| Other non-current assets | $0 | $681.1M | $580.2M | $514.5M | $431.6M | $398.8M | $417.2M | $420.0M | $501.2M | $481.6M | $399.2M | $398.8M |
| Total assets | $36.28B | $34.11B | $32.55B | $32.37B | $32.55B | $31.99B | $32.39B | $32.46B | $33.25B | $32.91B | $29.87B | $30.12B |
| Liabilities | ||||||||||||
| Accounts payable | $632.7M | $1.29B | $1.22B | $1.68B | $1.88B | $1.12B | $1.45B | $1.41B | $1.25B | $1.32B | $1.00B | $879.7M |
| Short-term debt | $2.40B | $291.4M | $985.3M | $0 | $54.8M | $989.2M | $120.1M | $79.9M | $57.3M | $191.5M | $59.8M | $254.7M |
| Deferred revenue | — | — | — | — | — | — | — | — | −$57.3M | −$983.2M | −$865.4M | −$2.61B |
| Total current liabilities | $6.01B | $291.4M | $1.44B | $1.89B | $2.04B | $1.26B | $1.91B | $1.82B | $1.63B | $1.65B | $1.62B | $1.39B |
| Long-term debt | $15.74B | $14.41B | $13.19B | $11.82B | $12.19B | $12.20B | $11.71B | $12.12B | $12.67B | $12.17B | $10.89B | $11.28B |
| Lease obligations | $974.6M | $987.7M | $985.3M | $1.00B | $1.00B | $989.2M | $946.2M | $965.1M | $975.6M | $983.2M | $865.4M | $467.8M |
| Other long-term liabilities | $97.5M | $4.80B | $3.52B | $4.47B | $3.89B | $3.35B | $3.43B | $3.96B | $4.05B | $4.25B | $3.64B | $3.87B |
| Total liabilities | $23.32B | $19.49B | $18.16B | $18.18B | $18.12B | $16.81B | $17.05B | $17.90B | $18.35B | $18.07B | $16.15B | $16.55B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $50.8M | $52.0M | $52.0M | $52.1M | $51.8M | $52.5M | $52.4M | $52.4M | $52.2M | $52.6M | $49.5M | $49.6M |
| Retained earnings (deficit) | $11.52B | $11.56B | $11.54B | $11.52B | $11.61B | $11.73B | $11.92B | $11.93B | $12.32B | $12.27B | $12.40B | $12.38B |
| Accumulated other comprehensive income | −$493.7M | −$489.0M | −$448.2M | −$447.1M | −$413.2M | −$498.9M | −$524.3M | −$419.5M | −$487.9M | −$479.2M | −$450.3M | −$509.3M |
| Minority interest | $2.66B | $2.49B | $2.26B | $2.11B | $2.23B | $2.83B | — | — | — | — | — | — |
| Total shareholders' equity | $11.74B | $12.12B | $12.13B | $12.08B | $12.20B | $12.35B | $12.46B | $12.51B | $12.87B | $12.86B | $12.00B | $11.92B |
| Key figures | ||||||||||||
| Total debt | $16.71B | $15.39B | $14.21B | $13.30B | $13.25B | $13.19B | $12.78B | $13.09B | $13.65B | $13.16B | $11.75B | $11.75B |
| Net cash (debt) | −$12.95B | −$11.83B | −$10.72B | −$9.73B | −$9.29B | −$9.65B | −$9.13B | −$8.68B | −$9.54B | −$9.03B | −$7.87B | −$7.35B |
| Working capital | $2.03B | $4.70B | $3.49B | $3.23B | $3.64B | $3.73B | $3.13B | $4.07B | $4.05B | $3.92B | $3.73B | $4.36B |
| Tangible book value | $1.42B | $1.74B | $1.69B | $1.71B | $1.55B | $1.60B | $1.59B | $1.49B | $1.40B | $1.33B | $1.17B | $1.01B |
| Book value per share | $22.75 | $23.39 | $23.41 | $23.43 | $23.63 | $23.82 | $24.05 | $24.23 | $24.88 | $24.77 | $24.60 | $24.32 |
| Shares outstanding | 516.0M | 518.3M | 518.3M | 515.4M | 516.5M | 518.2M | 518.2M | 516.2M | 517.2M | 519.2M | 487.9M | 490.0M |
| Current ratio | 1.34 | 17.14 | 3.42 | 2.71 | 2.79 | 3.96 | 2.64 | 3.24 | 3.48 | 3.38 | 3.30 | 4.13 |
| Quick ratio | 0.89 | 17.14 | 3.42 | 2.71 | 2.79 | 3.96 | 2.64 | 3.24 | 3.48 | 3.38 | 3.30 | 4.13 |
| Debt / equity | 1.42 | 1.27 | 1.17 | 1.10 | 1.09 | 1.07 | 1.03 | 1.05 | 1.06 | 1.02 | 0.98 | 0.99 |
| Equity / assets | 32.4% | 35.5% | 37.3% | 37.3% | 37.5% | 38.6% | 38.5% | 38.5% | 38.7% | 39.1% | 40.2% | 39.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed November 10, 2025); data from EODHD.
BEN financial position
At the end of fiscal 2025 (September 30, 2025), Franklin Templeton had total assets of $32.4 billion (down 0.3% from a year earlier), total liabilities of $18.2 billion and shareholders' equity of $12.1 billion. It held $3.6 billion in cash and short-term investments against $13.3 billion of debt, net debt of $9.7 billion. Its current ratio was 2.71. In the latest quarter (ended June 30, 2026) total assets were $36.3 billion and equity $11.7 billion.
Related: BEN income statement, BEN cash flow statement, BEN key metrics. See the BEN stock overview for the latest quote and news.
BEN balance sheet FAQ
What are Franklin Templeton's total assets?
Franklin Templeton reported total assets of $32.4 billion at the end of fiscal 2025 (September 30, 2025), compared with $32.5 billion a year earlier.
How much debt does Franklin Templeton have?
Franklin Templeton had $13.3 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 1.10.
How much cash does Franklin Templeton have?
Franklin Templeton held $3.6 billion in cash and short-term investments at the end of fiscal 2025; with $13.3 billion of debt that is net debt of $9.7 billion.
What is Franklin Templeton's book value?
Franklin Templeton's shareholders' equity (book value) was $12.1 billion at the end of fiscal 2025, or $23.43 per share.
What is Franklin Templeton's current ratio?
Franklin Templeton had current assets of $5.1 billion and current liabilities of $1.9 billion, a current ratio of 2.71 (it can cover its short-term obligations).
How much goodwill does Franklin Templeton have?
Franklin Templeton carried $10.4 billion of goodwill and intangible assets, 32.0% of total assets, at the end of fiscal 2025.