Franklin Templeton (BEN) FY2017 results: revenue $6.4 billion, down 3.4% on the year
Franklin Templeton Inc. (BEN) reported revenue of $6.4 billion for fiscal 2017, the year ended 30 September 2017, down 3.4% on the year before. Net income was $1.7 billion, down 1.7%, and diluted earnings per share $3.01. The figures are the company's own, from the 10-K it filed with the SEC on 13 November 2017.
Revenue
$6.4 billion
-3.4% on the year
FY2010FY2017
Operating margin
35.4%
35.7% a year earlier
FY2010FY2017
Net income
$1.7 billion
-1.7% on the year
FY2010FY2017
Diluted EPS
$3.01
+2.4% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
6,392
6,618
7,949
-3.4%
Operating income
2,264
2,366
3,028
-4.3%
Operating margin
35.4%
35.7%
38.1%
Interest expense
51.5
49.9
39.6
+3.2%
Pre-tax income
2,549
2,500
3,028
+2.0%
Income tax
759
742
924
+2.3%
Effective tax rate
29.8%
29.7%
30.5%
Net income
1,697
1,727
2,035
-1.7%
Net margin
26.5%
26.1%
25.6%
Diluted EPS
$3.01
$2.94
$3.29
+2.4%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
1,135
1,728
2,252
-34.3%
Capital expenditure
74.9
97.6
68.8
-23.3%
Free cash flow
1,060
1,630
2,183
-34.9%
Free cash flow margin
16.6%
24.6%
27.5%
Cash from investing
52.0
192
249
-72.9%
Cash from financing
-956
-1,801
-1,612
Depreciation and amortisation
81.5
81.0
81.6
+0.6%
Share-based compensation
123
132
140
-6.2%
Buybacks
765
1,308
1,060
-41.5%
Dividends paid
441
409
666
+8.0%
Dividend per share
$0.80
$0.72
$1.10
+11.1%
Diluted shares, weighted
559m
584m
615m
-4.2%
Shares outstanding at period end
555m
570m
604m
-2.7%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
12,620
11,936
11,841
+5.7%
Non-controlling interest
316
592
655
-46.7%
Redeemable equity
1,942
61.1
59.6
+3,078.2%
Debt
1,044
1,401
1,348
-25.5%
Other liabilities
1,612
2,108
2,432
-23.5%
Total liabilities and equity
17,534
16,099
16,336
+8.9%
Fixed assets
517
523
510
-1.1%
Goodwill
1,687
1,661
1,661
+1.6%
Intangible assets
6.5
19.2
57.5
-66.1%
Trading assets
314
1,122
1,251
-72.0%
Cash and equivalents
8,750
8,483
8,368
+3.1%
Other assets
6,259
4,290
4,488
+45.9%
Total assets
17,534
16,099
16,336
+8.9%
10-K for the year ended 30 September 2017, filed 13 November 2017: the filing.