Franklin Resources vs T. Rowe Price
Franklin Resources is the larger business, with $8.77bn of revenue in fiscal 2025 against $7.31bn for T. Rowe Price (1.2 times as much). Franklin Resources grew faster (3.5% against 3.1%). T. Rowe Price kept more of each dollar of sales as profit: a net margin of 28.5% against 6.0%.
| Latest fiscal year | Franklin ResourcesBEN, 2025 | T. Rowe PriceTROW, 2025 |
|---|---|---|
| Revenue | $8.77bn | $7.31bn |
| Revenue growth | 3.5% | 3.1% |
| Net income | $525m | $2.09bn |
| Operating margin | 6.9% | — |
| Net margin | 6.0% | 28.5% |
| Return on equity | 4.3% | 19.7% |
| Free cash flow | $912m | $1.48bn |
| Cash | $3.57bn | $3.38bn |
| Total debt | $2.36bn | $0 |
| Debt to equity | 19.6% | — |
| Dividend per share | $1.28 | $5.08 |
| Dividend yield | 4.3% | 5.0% |
| Share buybacks | $240m | $621m |
| Employees | 9,800 | 7,773 |
| Market value | $16.43bn | $22.59bn |
| Price vs our value range | — | — |
| Moat score | 68 (Moderate) | 89 (Strong) |
| Insider trades, 12 months | 3 buys, 5 sales | 0 buys, 3 sales |