FRANKLIN RESOURCES INC（BEN）の決算・業績分析
FRANKLIN RESOURCES INCの2025年有価証券報告書をAI分析。売上高$8.8B(+3.5%)。営業利益$604M。Financials。
目次
FRANKLIN RESOURCES INCの2025年度 業績サマリー
FRANKLIN RESOURCES INC（証券コード: BEN）の2025年度決算・業績分析。売上高は$8.8B（前年比+3.5%）。営業利益は$604M（前年比+48.2%）。純利益は$525M（前年比+12.9%）。有価証券報告書を基に、業績変化の要因・リスク・見通し・セグメント構成を AI が分析しました。
FRANKLIN RESOURCES INCの2024年度 注目ポイント
※ 直近の2025年度XBRLデータは取込済みですが、AI分析は2024年度の10-Kを対象としています。
- Revenue declined 1.8% YoY to $8.3B (XBRL), driven by net outflows of $32.6B despite AUM growth from acquisitions and market returns (10-K).
- Net income fell 29.5% YoY to $1.3B (XBRL), reflecting lower operating income (-5.4% YoY) and unspecified cost pressures (10-K).
- Operating cash flow rose to $2.0B (XBRL), outpacing net income, while $764M was returned to shareholders via dividends and buybacks (XBRL).
- Long-term debt increased to $3.1B (XBRL), with a debt-to-equity ratio of 1.39x (XBRL), signaling moderate leverage.
FRANKLIN RESOURCES INCの売上高変化の要因
- •Total revenue declined 1.8% YoY to $8.3B (XBRL), despite AUM growth from the Putnam acquisition (+$148B) and cash management inflows (+$2.7B). The 10-K attributes the decline to net outflows of $32.6B, which offset positive contributions from market returns and acquisitions. Segment-level revenue details are not disclosed in the XBRL or 10-K (N/A).
FRANKLIN RESOURCES INCの営業利益変化の要因
- •Operating income fell 5.4% YoY to $1.8B (XBRL), with a 21.4% operating margin. Net income dropped 29.5% YoY to $1.3B (XBRL), reflecting a 15.6% net margin. The 10-K notes lower operating income despite positive market returns but does not specify cost drivers (10-K).
FRANKLIN RESOURCES INCの事業リスクと対応
Market volatility and global economic disruptions may reduce AUM, revenues, and income (10-K).
Fluctuations in AUM mix toward lower-fee products could harm profitability (10-K).
Liquidity risks and unanticipated redemptions may force asset sales at losses (10-K).
Geopolitical conflicts (e.g., Ukraine-Russia war) impact financial markets and investment performance (10-K).
Regulatory changes and technological disruptions threaten competitive positioning (10-K).
FRANKLIN RESOURCES INCの今後の見通し・業績予想
FRANKLIN RESOURCES INCの事業内容
Franklin Resources Inc operates as a global investment management firm, generating revenue through fees based on assets under management (AUM) of $1.6 trillion as of September 30, 2024 (10-K). Key offerings include sponsored funds, institutional and retail separately managed accounts, sub-advised products, and fund administration services. Competitive advantages include a 75+ year history, expertise across asset classes, and strategic acquisitions such as Templeton, Legg Mason, and Putnam (10-K). The company serves retail, institutional, and high-net-worth investors globally without significant customer concentration (10-K).
FRANKLIN RESOURCES INCのAI業績分析レポート（2024年度）
Franklin Resources Inc (BEN) FY2024 Annual Report Analysis
Highlights
Business Overview
Franklin Resources Inc operates as a global investment management firm, generating revenue through fees based on assets under management (AUM) of $1.6 trillion as of September 30, 2024 (10-K). Key offerings include sponsored funds, institutional and retail separately managed accounts, sub-advised products, and fund administration services. Competitive advantages include a 75+ year history, expertise across asset classes, and strategic acquisitions such as Templeton, Legg Mason, and Putnam (10-K). The company serves retail, institutional, and high-net-worth investors globally without significant customer concentration (10-K).
Revenue Analysis
Total revenue declined 1.8% YoY to $8.3B (XBRL), despite AUM growth from the Putnam acquisition (+$148B) and cash management inflows (+$2.7B). The 10-K attributes the decline to net outflows of $32.6B, which offset positive contributions from market returns and acquisitions. Segment-level revenue details are not disclosed in the XBRL or 10-K (N/A).
Profitability Analysis
Operating income fell 5.4% YoY to $1.8B (XBRL), with a 21.4% operating margin. Net income dropped 29.5% YoY to $1.3B (XBRL), reflecting a 15.6% net margin. The 10-K notes lower operating income despite positive market returns but does not specify cost drivers (10-K).
Balance Sheet Analysis
Total assets grew to $30.1B (XBRL), with total equity increasing to $11.9B (XBRL). The equity ratio is 39.6% (XBRL), and debt-to-equity is 1.39x (XBRL). Long-term debt stands at $3.1B (XBRL), though maturity profiles and interest rates are unspecified (N/A).
Cash Flow Analysis
Operating cash flow was $2.0B (XBRL), with free cash flow of $1.9B (XBRL) after $90M in CapEx (XBRL). Shareholder returns totaled $764M, comprising $583M in dividends (XBRL) and $181M in share repurchases (XBRL).
Working Capital Analysis
Receivables Days: 60 days (XBRL). Inventory and payables days are not disclosed (N/A).
Risks
Outlook
Management highlights ongoing economic uncertainty, focus on investment performance, expense management, and strategic technology investments as key factors for future results (10-K). The Putnam acquisition is expected to drive long-term growth (10-K).
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