Franklin Templeton (BEN) FY2019 results: revenue $5.8 billion, down 8.6% on the year
Franklin Templeton Inc. (BEN) reported revenue of $5.8 billion for fiscal 2019, the year ended 30 September 2019, down 8.6% on the year before. Net income was $1.2 billion, up 56.4%, and diluted earnings per share $2.35. The figures are the company's own, from the 10-K it filed with the SEC on 12 November 2019.
Revenue
$5.8 billion
-8.6% on the year
FY2012FY2019
Operating margin
25.4%
32.1% a year earlier
FY2012FY2019
Net income
$1.2 billion
+56.4% on the year
FY2012FY2019
Diluted EPS
$2.35
+69.1% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
5,774
6,319
6,392
-8.6%
Operating income
1,467
2,028
2,264
-27.7%
Operating margin
25.4%
32.1%
35.4%
Interest expense
22.4
46.3
51.5
-51.6%
Pre-tax income
1,648
2,215
2,549
-25.6%
Income tax
442
1,472
759
-70.0%
Effective tax rate
26.8%
66.5%
29.8%
Net income
1,196
764
1,697
+56.4%
Net margin
20.7%
12.1%
26.5%
Diluted EPS
$2.35
$1.39
$3.01
+69.1%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
268
2,230
1,135
-88.0%
Capital expenditure
234
106
74.9
+119.4%
Free cash flow
34.8
2,123
1,060
-98.4%
Free cash flow margin
0.6%
33.6%
16.6%
Cash from investing
-1,275
-290
52.0
Cash from financing
340
-3,762
-956
Depreciation and amortisation
78.7
74.6
81.5
+5.5%
Share-based compensation
112
118
123
-5.3%
Buybacks
754
1,425
765
-47.0%
Dividends paid
519
2,117
441
-75.5%
Dividend per share
$1.04
$3.92
$0.80
-73.5%
Diluted shares, weighted
504m
538m
559m
-6.3%
Shares outstanding at period end
499m
519m
555m
-3.8%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
9,906
9,899
12,620
+0.1%
Non-controlling interest
718
309
316
+132.5%
Redeemable equity
747
1,044
1,942
-28.4%
Debt
697
696
1,044
+0.1%
Other liabilities
2,464
2,436
1,612
+1.2%
Total liabilities and equity
14,532
14,384
17,534
+1.0%
Fixed assets
684
535
517
+27.8%
Goodwill
2,130
1,795
1,687
+18.7%
Intangible assets
864
7.9
6.5
+10,839.2%
Securities held for sale or to maturity
4.0
n/a
n/a
Trading assets
n/a
346
314
Cash and equivalents
6,207
6,911
8,750
-10.2%
Other assets
4,643
4,790
6,259
-3.1%
Total assets
14,532
14,384
17,534
+1.0%
10-K for the year ended 30 September 2019, filed 12 November 2019: the filing.