We've lowered our moat rating for Franklin Resources to none from narrow. While the company has some moatworthy characteristics—like well-known brands, well-forged distribution ties, repeatable investment strategies, and a track record of producing excess returns—these attributes and other intangible assets continue to diminish.
Franklin is one of the 20 largest US-based asset managers, with just over 70% of its AUM sourced from domestic clients. It is the fifth-largest global manager of cross-border funds.
Franklin's funds continue to underperform, with just 48%, 60%, and 43% of its AUM above peer medians on a one-, three-, and five-year basis, respectively, at the end of June 2024.
|
Metric
|
BEN
|
IVZ
|
TROW
|
|---|---|---|---|
Price/Earnings (Normalized) | 7.84 | 11.16 | 12.84 |
Price/Book Value | 0.84 | 0.75 | 2.46 |
Price/Sales | 1.27 | 1.38 | 3.61 |
Price/Cash Flow | 7.96 | 4.80 | 16.57 |
|
Metric
|
BEN
|
IVZ
|
TROW
|
|---|---|---|---|
Quick Ratio | 3.48 | 1.88 | 9.35 |
Current Ratio | 3.48 | 1.88 | 9.35 |
Interest Coverage | 15.08 | −2.26 | — |
|
Metric
|
BEN
|
IVZ
|
TROW
|
|---|---|---|---|
Return on Assets (Normalized) | 4.44% | 2.50% | 15.25% |
Return on Equity (Normalized) | 11.27% | 6.60% | 20.19% |
Return on Invested Capital (Normalized) | 4.98% | 2.96% | 17.04% |
|
1-Day Chart
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Name
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Price
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Morningstar Rating for Stocks
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United States