Franklin Resources (BEN) 10-K Summaries & Annual Filing History
Review Franklin Resources, Inc. (BEN) 10-K filings from 2023 through the latest annual report, including business, financial performance, risks, and liquidity.
Key takeaway
Year ended Sep 30, 2025 · FY2025 10-K
Franklin Resources filed its annual report for the most recent fiscal year. The company reported revenue growth, positive operating income, and operating cash flow, while its cash flows from investing and financing activities declined.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$8.8B
Revenue reported for the fiscal year.
Operating income
$604.1M
Income from operations reported for the year.
Net income
$524.9M
Net income reported for the year.
Operating cash flow
$1.1B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Sep 30, 2022 | $8.3B | -1.8% |
| Sep 30, 2023 | $7.8B | -5.1% |
| Sep 30, 2024 | $8.5B | +8.0% |
| Sep 30, 2025 | $8.8B | +3.5% |
Business overview
The company provides investment management services and earns fees from managing assets, including collateralized loan obligations. The filing does not include a detailed business description beyond the table of contents.
Financial performance
Revenue increased compared to the prior fiscal year, after a decline in the preceding year. Operating income, net income, and operating cash flow were all reported as positive.
Material risks
The filing does not provide explicit descriptions of material risks in the supplied sections. The liquidity section notes that the company bears no risk beyond its direct investment in collateralized loan obligation structures.
Liquidity and capital
The company's liquidity is driven by its own cash flows; the assets and liabilities of collateralized loan obligations held by third-party investors do not affect its liquidity. Operating cash flow increased, while investing and financing cash flows decreased.
What to watch
Readers should monitor the trend in operating cash flow and the factors influencing it, such as incentive compensation and income tax payments.