Analyst Consensus ?
ConsensusHold27 ratings
Bullish622.2%
Neutral1659.3%
Bearish518.5%
Franklin Resources, Inc. · BEN · FY2025 Q3 · Calendar Q3 2025
Franklin Resources expands alternatives while guidance remains steady
The analysis supports a constructive but qualified view: Franklin Resources is broadening its alternatives, private-credit, ETF, and tokenization offerings, but the durability of growth depends on flows, fee-rate stability, integration execution, and regulatory outcomes.
Reported Before market openNYSEFinancial Services
$16.88B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.49
Consensus $0.48
EPS surprise
+1.5%
Reported versus consensus
Reported revenue
$2.06B
Consensus $2.38B
Revenue surprise
-13.4%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-0.2%
Event window
SPY move
-1.6%
Same window
Abnormal move
+1.4%
Stock minus SPY
Volume
2.1×
Versus trailing sessions
Subsequent drift
+7.1%
Up to 20 sessions
BENSPY benchmark
Ask FN2 about BEN FY2025 Q3
Transcript, numbers and history already loaded
Why did BEN fall 0.2% after beating EPS estimates in FY2025 Q3?What changed in BEN's guidance and outlook in FY2025 Q3?Give me the bull and bear case for BEN after FY2025 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Relative to the prior-quarter analysis, the current analysis emphasizes the Apera majority-stake acquisition, a larger private-credit platform, continued Benji tokenization work, and a more explicit set of integration and regulatory questions while guidance remains maintained.
Guidance delta
Management's guidance stance was maintained; the analysis points to broadly unchanged expectations, with expenses flat to slightly higher and a FY26 cost-saving target.
Key takeaways
- The quarter's analysis highlights continued inflows across alternatives, multi-asset solutions, and ETFs.
- Apera expands Franklin's private-credit platform and is described as bringing private-credit assets to nearly $90 billion.
- Tokenization remains a strategic product theme through the Benji money-market fund and related distribution initiatives.
- The investment case remains balanced by Western Asset outflows, market volatility, geopolitical uncertainty, and regulatory risks.
Management priorities
- Integrate Apera and scale private credit internationally.
- Expand tokenized products and Benji wallet white-labeling.
- Grow the Flex perpetual-fund distribution network and wealth-channel alternatives.
- Continue strategic partnerships and acquisitions in alternative credit and real estate.
Follow BEN with an agent that reads every filing, transcript, and price print. Free to start.
Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$32.4Previous close
$19Low
$30.84Average
$45High
Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Oct 9, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Sep 25, 2026 |
| Evercore ISI Group | Underperform | Underperform | Maintain | Aug 3, 2026 |
| Barclays | Equal Weight | Equal Weight | Maintain | Aug 3, 2026 |
| TD Cowen | Buy | Buy | Maintain | Jun 22, 2026 |
| JP Morgan | Neutral | Neutral | Maintain | Apr 29, 2026 |
| Goldman Sachs | Buy | Buy | Maintain | Apr 29, 2026 |
| B of A Securities | Underperform | Underperform | Maintain | Oct 2, 2025 |
| Wells Fargo | Equal Weight | Equal Weight | Maintain | Jul 11, 2025 |
| UBS | Neutral | Neutral | Maintain | Feb 3, 2025 |
| Keefe, Bruyette & Woods | Underperform | Underperform | Maintain | Feb 3, 2025 |
| BMO Capital | Market Perform | Market Perform | Maintain | Feb 3, 2025 |
| Deutsche Bank | Hold | Hold | Maintain | Nov 5, 2024 |
| Credit Suisse | Neutral | Neutral | Maintain | May 2, 2023 |
| Citigroup | Neutral | Buy | Downgrade | Apr 12, 2022 |
| CFRA | Hold | Hold | Maintain | May 1, 2020 |
| Standpoint Research | Buy | Accumulate | Maintain | Dec 23, 2019 |
| Keefe Bruyette & Woods | Underperform | Market Perform | Downgrade | Apr 29, 2019 |
| Bank of America | Underperform | Neutral | Downgrade | Jan 11, 2019 |
| Jefferies | Hold | Hold | Maintain | Oct 11, 2016 |
| Susquehanna | Neutral | Neutral | Maintain | Nov 3, 2015 |
| PiperJaffray | Neutral | Neutral | Maintain | Jun 3, 2015 |
| Evercore Partners | Overweight | Equal Weight | Upgrade | Nov 22, 2013 |
| Macquarie | Neutral | Outperform | Downgrade | May 21, 2013 |
| Stifel Nicolaus | Buy | Buy | Maintain | May 9, 2013 |
| Stifel | Buy | Buy | Maintain | May 9, 2013 |
| Sterne Agee | Neutral | Buy | Downgrade | May 2, 2013 |
| Nomura | Neutral | Neutral | Maintain | May 1, 2013 |
Named analyst price targets
Upside is calculated against the persisted previous close $32.4. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| UBS | Michael Brown | $40 | $31.98 | +23.5% | Oct 7, 2026 |
| Morgan Stanley | Analyst unavailable | $35 | $32.55 | +8.0% | Sep 25, 2026 |
| Deutsche Bank | Analyst unavailable | $34 | $35.39 | +4.9% | Aug 3, 2026 |
| Barclays | Benjamin Budish | $36 | $33.86 | +11.1% | Aug 3, 2026 |
| Barclays | Analyst unavailable | $34 | $32.83 | +4.9% | Jul 14, 2026 |
| Evercore ISI | Analyst unavailable | $35 | $33.84 | +8.0% | Jul 10, 2026 |
| Morgan Stanley | Analyst unavailable | $34 | $32.95 | +4.9% | Jun 26, 2026 |
| Evercore ISI | Analyst unavailable | $32 | $31.5 | -1.2% | Jun 8, 2026 |
| Morgan Stanley | Analyst unavailable | $31 | $30.46 | -4.3% | May 6, 2026 |
| Evercore ISI | Glenn Schorr | $28 | $29.72 | -13.6% | Apr 29, 2026 |
| Goldman Sachs | Analyst unavailable | $34 | $29.46 | +4.9% | Apr 29, 2026 |
| Barclays | Benjamin Budish | $31 | $29.46 | -4.3% | Apr 29, 2026 |
| Barclays | Analyst unavailable | $26 | $26.55 | -19.8% | Apr 17, 2026 |
| Evercore ISI | Analyst unavailable | $27 | $24.94 | -16.7% | Apr 10, 2026 |
| Morgan Stanley | Analyst unavailable | $22 | $27.25 | -32.1% | Feb 3, 2026 |
| Barclays | Analyst unavailable | $25 | $25.63 | -22.8% | Jan 15, 2026 |
| Barclays | Benjamin Budish | $22 | $23.46 | -32.1% | Dec 12, 2025 |
| Morgan Stanley | Michael Cyprys | $19 | $20.67 | -41.4% | Oct 18, 2024 |
| Barclays | Benjamin Budish | $20 | $20.74 | -38.3% | Aug 27, 2024 |
| Wells Fargo | Aidan Hall | $23 | $19.78 | -29.0% | Aug 22, 2024 |
| BMO Capital | Etienne Ricard | $26 | $23.08 | -19.8% | Jul 26, 2024 |
| Deutsche Bank | Brian Bedell | $29 | $27.2 | -10.5% | Apr 5, 2024 |
| CFRA | Catherine Seifert | $30 | $27.04 | -7.4% | Mar 14, 2024 |
| Wells Fargo | Analyst unavailable | $26 | $27.1 | -19.8% | Dec 15, 2022 |
| Goldman Sachs | Analyst unavailable | $23 | $26.42 | -29.0% | Nov 23, 2022 |
| Deutsche Bank | Analyst unavailable | $26 | $27.2 | -19.8% | Nov 15, 2022 |
| Morgan Stanley | Analyst unavailable | $20 | $22.22 | -38.3% | Oct 3, 2022 |
| Goldman Sachs | Analyst unavailable | $21 | $21.8 | -35.2% | Oct 3, 2022 |
| Deutsche Bank | Analyst unavailable | $29 | $28.96 | -10.5% | Aug 12, 2022 |
| UBS | Analyst unavailable | $27 | $27.62 | -16.7% | Aug 1, 2022 |
| Morgan Stanley | Analyst unavailable | $21 | $22.73 | -35.2% | Jun 30, 2022 |
| BMO Capital | James Fotheringham | $27 | $23.07 | -16.7% | Jun 14, 2022 |
| Deutsche Bank | Analyst unavailable | $25 | $25.14 | -22.8% | May 19, 2022 |
| KBW | Robert Lee | $45 | $36.98 | +38.9% | Nov 2, 2021 |
| Wells Fargo | Christopher Harris | $30 | $32.47 | -7.4% | May 5, 2021 |
| Barclays | Jeremy Campbell | $28 | $32.47 | -13.6% | May 5, 2021 |
Track every rating change on BEN the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationFranklin Resources, Inc. is a publicly owned asset investment manager. Through its subsidiaries, the firm provides its services to individuals, institutions, pension plans, trusts, and partnerships. It launches equity, fixed income, balanced, and multi-asset mutual funds through its subsidiaries. The firm invests in the public equity, fixed income, and alternative markets. Franklin Resources, Inc. was founded in 1947 and is based in San Mateo, California with an additional office in Calgary, Alberta; Dubai, United Arab Emirates; Edinburgh, Midlothian; Fort Lauderdale, Florida; Hyderabad, India; London, Greater London; Rancho Cordova, California; Shanghai, Shanghai Province; Singapore; Stamford, Connecticut; and Vienna.
Historical context
All BEN earningsFinancial Services peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| FDS FactSet Research Systems Inc. | FY2026 Q4 · Calendar Q3 2026 | +3.9% | +3.8% | FactSet reports record FY26 results as AI and MCP adoption accelerate |
| PUK Prudential plc | FY2026 Q2 · Calendar Q3 2026 | -40.9% | -0.5% | Prudential sustains growth and capital returns focus in H1 2026 |
| CM Canadian Imperial Bank of Commerce | FY2026 Q3 · Calendar Q3 2026 | +8.9% | -2.8% | CIBC Q3: Broad growth, resilient credit and expanded AI rollout |
| TD The Toronto-Dominion Bank | FY2026 Q3 · Calendar Q3 2026 | +13.8% | +1.4% | TD emphasizes growth investments alongside disciplined capital management |
| RY Royal Bank of Canada | FY2026 Q3 · Calendar Q3 2026 | +6.2% | -1.3% | RBC reports record Q3 earnings while investing for growth |
Latest beats and misses
Who reports nextBeat on EPS
Get the BEN recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-10-09T09:20:42.123307+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-09T09:20:42.120586+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-09. For educational purposes only; not investment advice.