Franklin Templeton (BEN) FY2018 results: revenue $6.3 billion, down 1.1% on the year
Franklin Templeton Inc. (BEN) reported revenue of $6.3 billion for fiscal 2018, the year ended 30 September 2018, down 1.1% on the year before. Net income was $764 million, down 54.9%, and diluted earnings per share $1.39. The figures are the company's own, from the 10-K it filed with the SEC on 9 November 2018.
Revenue
$6.3 billion
-1.1% on the year
FY2011FY2018
Operating margin
32.1%
35.4% a year earlier
FY2011FY2018
Net income
$764 million
-54.9% on the year
FY2011FY2018
Diluted EPS
$1.39
-53.8% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
6,319
6,392
6,618
-1.1%
Operating income
2,028
2,264
2,366
-10.4%
Operating margin
32.1%
35.4%
35.7%
Interest expense
46.3
51.5
49.9
-10.1%
Pre-tax income
2,215
2,549
2,500
-13.1%
Income tax
1,472
759
742
+93.9%
Effective tax rate
66.5%
29.8%
29.7%
Net income
764
1,697
1,727
-54.9%
Net margin
12.1%
26.5%
26.1%
Diluted EPS
$1.39
$3.01
$2.94
-53.8%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
2,230
1,135
1,728
+96.4%
Capital expenditure
106
74.9
97.6
+42.2%
Free cash flow
2,123
1,060
1,630
+100.2%
Free cash flow margin
33.6%
16.6%
24.6%
Cash from investing
-290
52.0
192
Cash from financing
-3,762
-956
-1,801
Depreciation and amortisation
74.6
81.5
81.0
-8.5%
Share-based compensation
118
123
132
-4.5%
Buybacks
1,425
765
1,308
+86.2%
Dividends paid
2,117
441
409
+379.8%
Dividend per share
$3.92
$0.80
$0.72
+390.0%
Diluted shares, weighted
538m
559m
584m
-3.8%
Shares outstanding at period end
519m
555m
570m
-6.4%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
9,899
12,620
11,936
-21.6%
Non-controlling interest
309
316
592
-2.2%
Redeemable equity
1,044
1,942
61.1
-46.3%
Debt
696
1,044
1,401
-33.4%
Other liabilities
2,436
1,612
2,108
+51.1%
Total liabilities and equity
14,384
17,534
16,099
-18.0%
Fixed assets
535
517
523
+3.4%
Goodwill
1,795
1,687
1,661
+6.4%
Intangible assets
7.9
6.5
19.2
+21.5%
Trading assets
346
314
1,122
+9.9%
Cash and equivalents
6,911
8,750
8,483
-21.0%
Other assets
4,790
6,259
4,290
-23.5%
Total assets
14,384
17,534
16,099
-18.0%
10-K for the year ended 30 September 2018, filed 9 November 2018: the filing.