Franklin Templeton (BEN) FY2023 results: revenue $7.8 billion, down 5.1% on the year
Franklin Templeton Inc. (BEN) reported revenue of $7.8 billion for fiscal 2023, the year ended 30 September 2023, down 5.1% on the year before. Net income was $883 million, down 31.7%, and diluted earnings per share $1.72. The figures are the company's own, from the 10-K it filed with the SEC on 14 November 2023.
Revenue
$7.8 billion
-5.1% on the year
FY2016FY2023
Operating margin
14.0%
21.4% a year earlier
FY2016FY2023
Net income
$883 million
-31.7% on the year
FY2016FY2023
Diluted EPS
$1.72
-32.0% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
1,089
1,957
1,245
-44.3%
Capital expenditure
149
90.3
79.3
+64.8%
Free cash flow
940
1,866
1,166
-49.6%
Free cash flow margin
12.0%
22.6%
13.8%
Cash from investing
-3,610
-3,329
-2,616
Cash from financing
2,107
1,585
2,030
+32.9%
Depreciation and amortisation
104
95.8
78.6
+8.9%
Share-based compensation
183
208
172
-12.3%
Buybacks
256
181
208
+41.8%
Dividends paid
607
583
560
+4.2%
Dividend per share
$1.20
$1.16
$1.12
+3.4%
Diluted shares, weighted
491m
489m
491m
+0.3%
Shares outstanding at period end
496m
500m
502m
-0.7%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
11,917
11,475
11,223
+3.9%
Non-controlling interest
631
824
587
-23.5%
Redeemable equity
1,026
1,526
933
-32.8%
Debt
3,053
3,376
3,399
-9.6%
Other liabilities
13,494
10,860
8,025
+24.3%
Total liabilities and equity
30,121
28,061
24,168
+7.3%
Fixed assets
800
743
770
+7.6%
Goodwill
6,004
5,779
4,458
+3.9%
Intangible assets
4,902
5,082
4,710
-3.5%
Cash and equivalents
4,402
4,782
4,647
-7.9%
Other assets
14,013
11,674
9,583
+20.0%
Total assets
30,121
28,061
24,168
+7.3%
10-K for the year ended 30 September 2023, filed 14 November 2023: the filing.