Franklin Templeton (BEN) FY2015 results: revenue $7.9 billion, down 6.4% on the year
Franklin Templeton Inc. (BEN) reported revenue of $7.9 billion for fiscal 2015, the year ended 30 September 2015, down 6.4% on the year before. Net income was $2.0 billion, down 14.6%, and diluted earnings per share $3.29. The figures are the company's own, from the 10-K it filed with the SEC on 12 November 2015.
Revenue
$7.9 billion
-6.4% on the year
FY2008FY2015
Operating margin
38.1%
37.9% a year earlier
FY2008FY2015
Net income
$2.0 billion
-14.6% on the year
FY2008FY2015
Diluted EPS
$3.29
-13.2% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
7,949
8,491
7,985
-6.4%
Operating income
3,028
3,221
2,921
-6.0%
Operating margin
38.1%
37.9%
36.6%
Interest expense
39.6
47.4
46.9
-16.5%
Pre-tax income
3,028
3,410
3,027
-11.2%
Income tax
924
998
856
-7.4%
Effective tax rate
30.5%
29.3%
28.3%
Net income
2,035
2,384
2,150
-14.6%
Net margin
25.6%
28.1%
26.9%
Diluted EPS
$3.29
$3.79
$3.37
-13.2%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
2,252
2,138
2,036
+5.3%
Capital expenditure
68.8
53.1
62.2
+29.6%
Free cash flow
2,183
2,085
1,974
+4.7%
Free cash flow margin
27.5%
24.6%
24.7%
Cash from investing
249
391
233
-36.3%
Cash from financing
-1,612
-1,195
-2,018
Depreciation and amortisation
81.6
82.6
76.9
-1.2%
Share-based compensation
140
128
113
+9.6%
Buybacks
1,060
622
491
+70.3%
Dividends paid
666
290
883
+129.5%
Dividend per share
$1.10
$0.48
$1.39
+129.2%
Diluted shares, weighted
615m
625m
634m
-1.6%
Shares outstanding at period end
604m
623m
631m
-3.1%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
11,841
11,584
10,073
+2.2%
Non-controlling interest
655
628
612
+4.2%
Redeemable equity
59.6
235
122
-74.6%
Deposits
n/a
0.4
587
Debt
1,348
1,198
1,198
+12.5%
Other liabilities
2,432
2,711
2,798
-10.3%
Total liabilities and equity
16,336
16,357
15,390
-0.1%
Fixed assets
510
531
564
-3.9%
Goodwill
1,661
1,691
1,702
-1.8%
Intangible assets
57.5
87.5
658
-34.3%
Securities held for sale or to maturity
n/a
12.0
25.4
Loans
n/a
2.5
230
Trading assets
1,251
1,278
1,197
-2.1%
Cash and equivalents
8,368
7,596
6,323
+10.2%
Other assets
4,488
5,160
4,692
-13.0%
Total assets
16,336
16,357
15,390
-0.1%
10-K for the year ended 30 September 2015, filed 12 November 2015: the filing.