Franklin Templeton (BEN) FY2020 results: revenue $5.6 billion, down 3.6% on the year
Franklin Templeton Inc. (BEN) reported revenue of $5.6 billion for fiscal 2020, the year ended 30 September 2020, down 3.6% on the year before. Net income was $799 million, down 33.2%, and diluted earnings per share $1.59. The figures are the company's own, from the 10-K it filed with the SEC on 23 November 2020.
Revenue
$5.6 billion
-3.6% on the year
FY2013FY2020
Operating margin
18.8%
25.4% a year earlier
FY2013FY2020
Net income
$799 million
-33.2% on the year
FY2013FY2020
Diluted EPS
$1.59
-32.3% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
5,566
5,774
6,319
-3.6%
Operating income
1,049
1,467
2,028
-28.5%
Operating margin
18.8%
25.4%
32.1%
Interest expense
33.4
22.4
46.3
+49.1%
Pre-tax income
1,018
1,648
2,215
-38.2%
Income tax
231
442
1,472
-47.8%
Effective tax rate
22.7%
26.8%
66.5%
Net income
799
1,196
764
-33.2%
Net margin
14.4%
20.7%
12.1%
Diluted EPS
$1.59
$2.35
$1.39
-32.3%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
1,083
268
2,230
+303.5%
Capital expenditure
104
234
106
-55.6%
Free cash flow
980
34.8
2,123
+2,714.9%
Free cash flow margin
17.6%
0.6%
33.6%
Cash from investing
-4,062
-1,275
-290
Cash from financing
734
340
-3,762
+116.1%
Depreciation and amortisation
74.5
78.7
74.6
-5.3%
Share-based compensation
122
112
118
+9.7%
Buybacks
218
754
1,425
-71.1%
Dividends paid
533
519
2,117
+2.8%
Dividend per share
$1.08
$1.04
$3.92
+3.8%
Diluted shares, weighted
492m
504m
538m
-2.4%
Shares outstanding at period end
495m
499m
519m
-0.8%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
10,114
9,906
9,899
+2.1%
Non-controlling interest
755
718
309
+5.1%
Redeemable equity
542
747
1,044
-27.4%
Debt
3,017
697
696
+332.9%
Other liabilities
7,256
2,464
2,436
+194.4%
Total liabilities and equity
21,684
14,532
14,384
+49.2%
Fixed assets
814
684
535
+19.0%
Goodwill
4,501
2,130
1,795
+111.3%
Intangible assets
4,914
864
7.9
+468.6%
Securities held for sale or to maturity
n/a
4.0
n/a
Trading assets
n/a
n/a
346
Cash and equivalents
3,990
6,207
6,911
-35.7%
Other assets
7,466
4,643
4,790
+60.8%
Total assets
21,684
14,532
14,384
+49.2%
10-K for the year ended 30 September 2020, filed 23 November 2020: the filing.