BEN Franklin Resources, Inc. Common Stock
About Franklin Resources, Inc. Common Stock Company overview from Wikipedia
Franklin Resources, Inc. is an American multinational investment management holding company that, together with its subsidiaries, is referred to as Franklin Templeton; it is a global investment firm founded in New York City in 1947 as Franklin Distributors, Inc. It is listed on the New York Stock Exchange under the ticker symbol BEN, in honor of Benjamin Franklin, for whom the company is named, and who was admired by founder Rupert Johnson Sr. The firm became the world's largest asset managers, providing services operating in 150 countries. In 1973, the company's headquarters moved from New York to San Mateo, California.
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Franklin Resources, Inc. is an American multinational investment management holding company that, together with its subsidiaries, is referred to as Franklin Templeton; it is a global investment firm founded in New York City in 1947 as Franklin Distributors, Inc. It is listed on the New York Stock Exchange under the ticker symbol BEN, in honor of Benjamin Franklin, for whom the company is named, and who was admired by founder Rupert Johnson Sr. The firm became the world's largest asset managers, providing services operating in 150 countries. In 1973, the company's headquarters moved from New York to San Mateo, California.
History
The company was founded in 1947 in New York by Rupert H. (Harris) Johnson Sr. (1900–1989), who ran a successful retail brokerage firm from an office on Wall Street. He named the company for American polymath Benjamin Franklin because Franklin espoused frugality and prudence when it came to saving and investing. The company's first line of mutual funds, Franklin Custodian Funds, was a series of conservatively managed equity and bond funds designed to appeal to most investors.
After Rupert Sr. retired, his son, Charles B. Johnson (Charlie), took over as president and chief executive officer in 1957 at age 24. At that time, the funds had total assets under management of US$2.5 million. Rupert Johnson Jr., Charlie's brother, joined the company in 1965.
Franklin went public in 1971. In 1973, the company acquired Winfield & Company, a San Mateo, California-based investment firm, and moved Franklin's offices from New York to California. The combined organization had close to US$250 million in assets under management and approximately 60 employees. In 1979, Franklin Money Fund began a growth surge that made it Franklin's first billion-dollar fund and launched the company's significant asset growth in the 1980s.
Starting in 1980, the company's total assets under management doubled (or nearly doubled) every year for the next six years. The company's stock began trading on the New York Stock Exchange in 1986. In the same year, the company opened its first office outside North America in Taiwan. In 1988, Franklin acquired L.F. Rothschild Fund Management Company. Assets under management for Franklin grew from just over US$2 billion in 1982 to more than US$40 billion in 1989 (the crash of 1987 had little impact on Franklin's income and bond funds).
In October 1992, Franklin acquired Templeton, Galbraith & Hansberger Ltd. for a reported cost of $913 million, leading to the common name Franklin Templeton. Mutual fund pioneer Sir John Templeton was the owner of Templeton, Galbraith & Hansberger Ltd together with his son Dr. John Templeton and John Galbraith who together owned 70% of the firm.
In November 1996, Heine Securities Corporation, known for the Mutual Series of funds, merged into the Franklin Templeton complex. In October 2000, Franklin acquired Bissett Funds to increase its Canadian presence, and Bissett remains a key brand from Franklin in the Canadian market. The Fiduciary Trust Company was acquired by Franklin Templeton in April 2001.
Fiduciary Trust Company International, a member of the Franklin family, maintained an office of over 650 employees in 2 World Trade Center at the time of the September 11 attacks in 2001. 87 employees died in the collapse.
The firm has specialized expertise across a full range of asset classes. It offers products under the Franklin, Templeton, Mutual Series and Fiduciary brand names, among others. Like other large investment companies, the firm offers a wide variety of funds but is traditionally best known for bond funds under the Franklin brand, international funds under the Templeton brand, and value funds under the Mutual Series brand.
In April 2007, Franklin Resources was 445th in the Fortune 500, and 7th overall among securities companies. The same month, USA Today listed BEN stock as the top stock pick for the last 25 years based on returns, claiming it is up 64,224% since 1982. As of July 31, 2008, Franklin Resources, Inc. managed over $570 billion in total assets worldwide. In February 2009, Barron's Magazine called Franklin Templeton "King of the Decade" among fund families over the ten-year period ending in 2008.
In 2013, Charles Johnson retired as chairman and his son Greg Johnson became chairman of the board, CEO and president.
In 2019, the firm acquired Benefit Street Partners, an alternative credit investment group.
In 2020, Jenny Johnson became CEO and President of the firm and Greg Johnson became Executive chairman.
Franklin Templeton acquired AdvisorEngine in May 2020, completing the deal in September 2022. Founded 2014 by Rich Cancro, the wealth management technology platform provides advisors with CRM, portfolio management, client portal, and digital onboarding tools, enhancing Franklin Templeton's digital wealth management offerings.
In July 2020, Franklin Templeton acquired Legg Mason, Inc., making Franklin Templeton one of the world's largest independent, specialized global investment managers, with a combined $1.4 trillion in assets under management (AUM). The combined footprint deepened Templeton's presence in key geographies and created an expansive investment platform that includes institutional and retail client AUM.
In November 2021, Franklin Templeton announced its acquisition of Lexington Partners in a $1.75 billion cash deal. The acquisition completed in April 2022.
In January 2022, Franklin Templeton acquired O'Shaughnessy Asset Management, an asset management firm founded by James O'Shaughnessy.
On May 31, 2022, it was announced that BNY Mellon Investment Management would sell Alcentra to Franklin Templeton. The transaction was completed on November 1, 2022.
On May 31, 2023, Great-West Lifeco announced that Franklin Templeton would acquire Putnam Investments for $925 million. Putnam Investments subsidiary, PanAgora Asset Management would not be included in the acquisition. The deal was completed in January 2024.
In August 2023, Bloomberg News reported that Franklin Templeton executives in China were mandated to attend courses on Xi Jinping Thought.
Mutual funds and ETFs
Franklin Templeton has 455 open-ended mutual funds and seven closed-end funds. Included in these are 27 state and federal tax-free income funds, an area of investment pioneered by Franklin.
Prominent funds include the Templeton Growth Fund, Inc. (opened 1954), the Mutual Shares fund (opened 1949), and the Mutual Discovery Fund (opened 1992) and the Templeton Growth (Euro) Fund.
The Franklin Income Fund (FKINX) is a mutual fund in Morningstar's "conservative allocation" category and "large/value" style box. The fund was created in 1948 and has paid uninterrupted dividends for 60 years. The Franklin Income Fund is constructed primarily of dividend-paying stocks and bonds (2%).
Franklin Templeton launched its first exchange-traded funds (ETFs) in 2013. By 2021, these included 55 active, smart beta/multifactor and passively managed ETFs in the U.S, with US$9.7 billion in assets under management.
In 2021, Franklin Templeton launched the first "tokenised" US mutual fund as a pilot – it uses a blockchain to process transactions and record share ownership. The technology is provided by the Stellar network and Blockchain Administrator, a Delaware company. The OnChain US Government Money Fund pilot started with $1.4M of seed money and investment from employees. The automated administration can trade around the clock and removes the need for brokerages, which should result in a "highly significant decrease in fees". However, the fund actually has a high level of costs because of its small size and the fact that, as a pilot, it is maintaining traditional records in parallel.
In February 2025, Franklin Templeton launched a spot crypto exchange-traded fund that holds a combination of roughly 80% bitcoin and 20% ether. That same month Franklin applied with the SEC for a spot Solana ETF.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
BEN Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
BEN Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
10-Year Performance Revenue, net income, margins and EPS trends
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Financial Health Debt, liquidity, solvency — balance sheet strength
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Dividends Yield, payout ratio, dividend history, 5Y CAGR
| Ex-date | Amount |
|---|---|
| June 29, 2026 | $0.3300 |
| March 31, 2026 | $0.3300 |
| Dec. 30, 2025 | $0.3300 |
| Sept. 30, 2025 | $0.3200 |
| June 27, 2025 | $0.3200 |
| March 31, 2025 | $0.3200 |
| Dec. 30, 2024 | $0.3200 |
| Sept. 30, 2024 | $0.3100 |
| June 28, 2024 | $0.3100 |
| March 27, 2024 | $0.3100 |
| Jan. 2, 2024 | $0.3100 |
| Sept. 28, 2023 | $0.3000 |
| June 29, 2023 | $0.3000 |
| March 30, 2023 | $0.3000 |
| Dec. 29, 2022 | $0.3000 |
| Sept. 29, 2022 | $0.2900 |
| June 29, 2022 | $0.2900 |
| March 30, 2022 | $0.2900 |
| Dec. 30, 2021 | $0.2900 |
| Sept. 29, 2021 | $0.2800 |
BEN Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
- Strong Buy 1 5.9%
- Buy 5 29.4%
- Hold 9 52.9%
- Sell 2 11.8%
- Strong Sell 0 0.0%
12-Month Price Target
11 analysts · 2026-08-15Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $0.72 | $0.68 | 0.04% |
| March 31, 2026 | $0.71 | $0.56 | 0.15% |
| Dec. 31, 2025 | $0.70 | $0.56 | 0.14% |
| Sept. 30, 2025 | $0.67 | $0.58 | 0.09% |
| June 30, 2025 | $0.49 | $0.50 | -0.01% |
| March 31, 2025 | $0.47 | $0.48 | -0.01% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| BEN | $12.05B | 25.4 | 3.5% | 6.0% | 4.3% | — |
| NTRS | — | — | — | — | — | — |
| ARES | — | — | 28.9% | 11.1% | 13.5% | — |
| TROW | $22.38B | 11.1 | 3.1% | 28.5% | 19.7% | — |
| TPG | — | — | — | — | — | — |
| OWL | — | 149.4 | 7.6% | 13.9% | 3.6% | — |
| CG | — | — | — | — | — | — |
| PS | — | — | — | — | — | — |
| IVZ | $11.66B | -16.4 | 5.1% | -2.7% | -1.3% | — |
| ARCC | — | 10.9 | — | — | — | — |
| SEIC | $10.03B | 14.6 | 8.1% | 31.1% | 29.9% | 35.2% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $8.77B | $8.48B | $7.85B | $8.28B | $8.43B | $5.57B | $5.67B | $6.20B | $6.39B | $6.62B | $7.95B | $8.49B | |
| SG&A Expense | $774M | $703M | $565M | $565M | $537M | $450M | $391M | $372M | $322M | $340M | $348M | $360M | |
| Operating Expenses | $8.17B | $8.07B | $6.75B | $6.50B | $6.55B | $4.52B | $4.20B | $4.18B | $4.13B | $4.25B | $4.92B | $5.27B | |
| Operating Income | $604M | $408M | $1.10B | $1.77B | $1.88B | $1.05B | $1.47B | $2.03B | $2.26B | $2.37B | $3.03B | $3.22B | |
| Interest Expense | $95M | $97M | $124M | $98M | $85M | $33M | $22M | $46M | $52M | $50M | $40M | $47M | |
| Interest Income | · | · | · | · | $9M | $14M | $31M | $76M | $75M | $36M | $11M | $9M | |
| Other Non-op | $213M | $396M | $262M | $91M | $265M | $-38M | $141M | $200M | $336M | $184M | $40M | $236M | |
| Pretax Income | $787M | $823M | $1.34B | $1.73B | $2.44B | $1.02B | $1.65B | $2.22B | $2.55B | $2.50B | $3.03B | $3.41B | |
| Income Tax | $238M | $215M | $312M | $396M | $350M | $231M | $442M | $1.47B | $759M | $742M | $924M | $998M | |
| Net Income | $525M | $465M | $883M | $1.29B | $1.83B | $799M | $1.20B | $764M | $1.70B | $1.73B | $2.04B | $2.38B | |
| EPS (Basic) | $0.91 | $0.85 | $1.72 | $2.53 | $3.58 | $1.59 | $2.35 | $1.39 | $3.01 | $2.94 | $3.29 | $3.79 | |
| EPS (Diluted) | $0.91 | $0.85 | $1.72 | $2.53 | $3.57 | $1.59 | $2.35 | $1.39 | $3.01 | $2.94 | $3.29 | $3.79 | |
| Shares (Basic) | 516,700,000 | 509,500,000 | 490,000,000 | 488,700,000 | 489,900,000 | 491,900,000 | 503,600,000 | 537,400,000 | 558,800,000 | 583,800,000 | 614,800,000 | 624,800,000 | |
| Shares (Diluted) | 517,400,000 | 510,300,000 | 490,800,000 | 489,300,000 | 490,600,000 | 492,400,000 | 504,300,000 | 538,000,000 | 559,100,000 | 583,800,000 | 614,900,000 | 625,200,000 | |
| EBITDA | $729M | $524M | $1.21B | $1.87B | $1.95B | $1.12B | $1.64B | $2.20B | $2.35B | $2.45B | $3.11B | $3.30B |
Balance Sheet 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | · | · | · | · | $4.65B | $3.99B | $6.21B | $6.91B | $8.75B | $8.48B | $8.37B | $7.60B | |
| PP&E (Net) | $949M | $946M | $800M | $743M | $770M | $814M | $684M | $535M | $517M | $523M | $510M | $531M | |
| PP&E (Gross) | $1.89B | $1.91B | $1.76B | $1.70B | $1.95B | $1.91B | $1.72B | $1.50B | $1.46B | $1.39B | $1.36B | $1.33B | |
| Accum. Depreciation | $945M | $962M | $957M | $958M | $1.18B | $1.10B | $1.03B | $966M | $943M | $871M | $855M | $799M | |
| Goodwill | $6.21B | $6.21B | $6.00B | $5.78B | $4.46B | $4.50B | $2.13B | $1.79B | $1.69B | $1.66B | $1.66B | $1.69B | |
| Intangibles | $4.17B | $4.80B | $4.90B | $5.08B | $4.71B | $4.91B | $864M | $8M | $6M | $19M | $58M | $88M | |
| Total Assets | $32.37B | $32.46B | $30.12B | $28.06B | $24.17B | $21.68B | $14.53B | $14.38B | $17.53B | $16.10B | $16.34B | $16.36B | |
| Deferred Tax | $262M | $285M | $450M | $348M | $312M | $305M | $120M | · | · | · | $241M | · | |
| Total Liabilities | $18.18B | $17.90B | $16.55B | $14.24B | $11.42B | $10.27B | $3.16B | $3.13B | $2.66B | $3.51B | $3.78B | $3.91B | |
| Long-term Debt | $2.36B | $2.78B | $3.05B | $3.38B | $3.40B | $3.02B | $697M | $696M | $1.04B | $1.40B | $1.35B | $1.20B | |
| Common Stock | $52M | $52M | $50M | $50M | $50M | $50M | $50M | $52M | $56M | $57M | $60M | $62M | |
| Retained Earnings | $11.52B | $11.93B | $12.38B | $12.05B | $11.55B | $10.47B | $10.29B | $10.22B | $12.85B | $12.23B | $12.09B | $11.63B | |
| AOCI | $-447M | $-420M | $-509M | $-621M | $-378M | $-408M | $-432M | $-371M | $-285M | $-347M | $-314M | $-118M | |
| Stockholders' Equity | $12.08B | $12.51B | $11.92B | $11.47B | $11.22B | $10.11B | $9.91B | $9.90B | $12.62B | $11.94B | $11.84B | $11.58B | |
| Liabilities + Equity | $32.37B | $32.46B | $30.12B | $28.06B | $24.17B | $21.68B | $14.53B | $14.38B | $17.53B | $16.10B | $16.34B | $16.36B | |
| Shares Outstanding | 520,951,796 | 523,596,548 | 495,937,891 | 499,575,175 | 501,807,677 | 495,116,677 | 499,303,269 | 519,122,574 | 554,865,343 | 570,345,156 | 603,517,181 | 622,893,090 |
Cash Flow 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $125M | $116M | $104M | $96M | $79M | $74M | $79M | $75M | $82M | $81M | $82M | $83M | |
| Stock-based Comp | $215M | $246M | $183M | $208M | $172M | $122M | $112M | $118M | $123M | $132M | $140M | $128M | |
| Deferred Tax | $-47M | $-125M | $42M | $98M | $4M | $-7M | $-1M | $-51M | $9M | $9M | · | · | |
| Amort. of Intangibles | $406M | $338M | $341M | $282M | $232M | $54M | $15M | $2M | $4M | $10M | $20M | $21M | |
| Other Non-cash | $248M | $268M | $-72M | $263M | $-840M | $33M | $-1.19B | $1.32B | $-766M | $-212M | $-5M | $-457M | |
| Operating Cash Flow | $1.07B | $971M | $1.09B | $1.96B | $1.25B | $1.08B | $268M | $2.23B | $1.14B | $1.73B | $2.25B | $2.14B | |
| CapEx | $154M | $177M | $149M | $90M | $79M | $104M | $234M | $106M | $75M | $98M | $69M | $53M | |
| Investing Cash Flow | $-2.34B | $-2.42B | $-3.61B | $-3.33B | $-2.62B | $-4.06B | $-1.28B | $-290M | $52M | $192M | $249M | $391M | |
| Stock Issued | $24M | $21M | $23M | $25M | $22M | $21M | $23M | $25M | $25M | $24M | $26M | $33M | |
| Stock Repurchased | $240M | $274M | $256M | $181M | $208M | $218M | $754M | $1.42B | $765M | $1.31B | $1.06B | $622M | |
| Net Stock Activity | $-216M | $-254M | $-233M | $-156M | $-186M | $-198M | $-731M | $-1.40B | $-740M | $-1.28B | $-1.03B | $-622M | |
| Dividends Paid | $684M | $656M | $607M | $583M | $560M | $533M | $519M | $2.12B | $441M | $409M | $666M | $290M | |
| Financing Cash Flow | $452M | $1.42B | $2.11B | $1.58B | $2.03B | $734M | $340M | $-3.76B | $-956M | $-1.80B | $-1.61B | $-1.20B | |
| Net Change in Cash | $-835M | $6M | $-380M | $135M | $657M | $-2.22B | $-704M | $-1.84B | $266M | $115M | $772M | $1.27B | |
| Free Cash Flow | $912M | $794M | $990M | $1.87B | $1.17B | $918M | $-32M | $2.12B | $1.06B | $1.63B | $2.18B | $2.08B | |
| Levered FCF | $845M | $722M | $893M | $1.79B | $1.09B | $892M | $-50M | $2.11B | $1.02B | $1.60B | $2.16B | $2.05B |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 6.9% | 4.8% | 14.0% | 21.4% | 22.2% | 18.8% | 27.0% | 33.5% | 35.4% | 35.8% | 38.1% | 37.9% | |
| Net Margin | 6.0% | 5.5% | 11.2% | 15.6% | 21.7% | 14.3% | 20.7% | 12.1% | 26.5% | 26.1% | 25.6% | 28.1% | |
| Pretax Margin | 9.0% | 9.7% | 18.0% | 20.9% | 29.0% | 18.3% | 28.5% | 35.1% | 39.9% | 37.8% | 38.1% | 40.2% | |
| EBITDA Margin | 8.3% | 6.2% | 15.4% | 22.6% | 23.2% | 20.2% | 28.4% | 34.8% | 36.7% | 37.0% | 39.1% | 38.9% | |
| ROA | 1.6% | 1.5% | 3.0% | 5.0% | 8.0% | 4.6% | 8.3% | 4.8% | 10.1% | 10.7% | 12.4% | 15.0% | |
| ROE | 4.3% | 3.8% | 7.5% | 11.4% | 17.2% | 8.0% | 12.1% | 6.8% | 13.8% | 14.5% | 17.4% | 22.0% | |
| ROIC | 3.5% | 2.4% | 7.2% | 11.9% | 14.3% | 8.0% | 11.5% | 7.2% | 12.6% | 13.9% | 17.8% | 19.7% |
Liquidity & Solvency 1
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest Coverage | 6.4 | 4.2 | 8.9 | 18.1 | 22.0 | 31.4 | 63.1 | 43.5 | 44.0 | 47.4 | 76.5 | 68.0 |
Efficiency 1
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.3 | 0.3 | 0.3 | 0.3 | 0.4 | 0.3 | 0.4 | 0.4 | 0.4 | 0.4 | 0.5 | 0.5 |
Growth Rates 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 3.5% | 8.0% | -5.1% | -1.8% | 51.4% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 2.0% | 0.21% | 12.1% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 9.5% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | 7.1% | -50.6% | -32.0% | -29.1% | 124.5% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | -28.9% | -38.0% | 2.6% | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | -10.6% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | 12.9% | -47.3% | -31.7% | -29.4% | 129.2% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | -25.9% | -36.7% | 3.4% | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | -8.1% | · | · | · | · | · | · | · | · | · | · | · | |
| Dividend CAGR 5Y | 5.1% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 13
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $8.77B | $8.48B | $7.85B | $8.28B | $8.43B | $5.57B | $5.67B | $6.20B | $6.39B | $6.62B | $7.95B | $8.49B | |
| Net Income TTM | $525M | $465M | $883M | $1.29B | $1.83B | $799M | $1.20B | $764M | $1.70B | $1.73B | $2.04B | $2.38B | |
| Market Cap | $12.05B | $10.55B | $12.19B | $10.75B | $14.91B | $10.08B | $14.41B | $15.79B | $24.70B | $20.29B | $22.49B | $34.02B | |
| P/E | 25.4 | 23.7 | 14.3 | 8.5 | 8.3 | 12.8 | 12.3 | 21.9 | 14.8 | 12.1 | 11.3 | 14.4 | |
| P/S | 1.4 | 1.2 | 1.6 | 1.3 | 1.8 | 1.8 | 2.5 | 2.5 | 3.9 | 3.1 | 2.8 | 4.0 | |
| P/B | 1.0 | 0.8 | 1.0 | 0.9 | 1.3 | 1.0 | 1.5 | 1.6 | 2.0 | 1.7 | 1.9 | 2.9 | |
| P / Tangible Book | 7.1 | 7.1 | 12.1 | 17.5 | 7.3 | 14.4 | · | · | · | · | · | · | |
| P / Cash Flow | 11.3 | 10.9 | 10.7 | 5.5 | 12.0 | 9.9 | 71.5 | 7.1 | 21.8 | 11.7 | 10.0 | 15.9 | |
| P / FCF | 13.2 | 13.3 | 12.3 | 5.8 | 12.8 | 11.0 | -448.9 | 7.4 | 23.3 | 12.4 | 10.3 | 16.3 | |
| Dividend Yield | 5.7% | 6.2% | 5.0% | 5.4% | 3.8% | 5.3% | 3.6% | 13.4% | 1.8% | 2.0% | 3.0% | 0.85% | |
| Earnings Yield | 3.9% | 4.2% | 7.0% | 11.8% | 12.0% | 7.8% | 8.1% | 4.6% | 6.8% | 8.3% | 8.8% | 6.9% | |
| Payout Ratio | 130.2% | 141.2% | 68.8% | 45.1% | 30.6% | 66.7% | 43.4% | 276.9% | 26.0% | 23.7% | 32.7% | 12.2% | |
| Annual Payout | $684M | $656M | $607M | $583M | $560M | $533M | $519M | $2.12B | $441M | $409M | $666M | $290M |
Income Statement 14
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.36B | $2.29B | $2.33B | $2.34B | $2.06B | $2.11B | $2.25B | $2.21B | $2.12B | $2.15B | $1.99B | $1.99B | $1.97B | $1.93B | $1.97B | $1.94B | |
| SG&A Expense | $313M | $188M | $196M | $223M | $184M | $183M | $185M | $196M | $180M | $195M | $132M | $138M | $136M | $144M | $146M | $149M | |
| Operating Expenses | $2.14B | $1.97B | $2.05B | $2.26B | $1.91B | $1.97B | $2.03B | $2.36B | $1.90B | $2.02B | $1.78B | $1.65B | $1.65B | $1.67B | $1.77B | $1.59B | |
| Operating Income | $216M | $323M | $281M | $85M | $154M | $146M | $219M | $-151M | $222M | $129M | $206M | $338M | $315M | $255M | $194M | $348M | |
| Interest Expense | $24M | $20M | $20M | $25M | $26M | $21M | $23M | $25M | $26M | $28M | $19M | $24M | $35M | $34M | $31M | $27M | |
| Other Non-op | $131M | $56M | $80M | $85M | $23M | $94M | $10M | $95M | $74M | $52M | $173M | $61M | $50M | $61M | $91M | $-7M | |
| Pretax Income | $371M | $446M | $452M | $254M | $177M | $43M | $313M | $-46M | $300M | $238M | $331M | $412M | $331M | $366M | $229M | $254M | |
| Income Tax | $116M | $99M | $105M | $66M | $60M | $31M | $81M | $10M | $68M | $63M | $75M | $75M | $84M | $93M | $60M | $48M | |
| Net Income | $172M | $268M | $256M | $118M | $92M | $151M | $164M | $-85M | $174M | $124M | $251M | $296M | $228M | $194M | $166M | $233M | |
| EPS (Basic) | $0.31 | $0.49 | $0.46 | $0.21 | $0.15 | $0.26 | $0.29 | $-0.20 | $0.32 | $0.23 | $0.50 | $0.58 | $0.44 | $0.38 | $0.32 | $0.46 | |
| EPS (Diluted) | $0.31 | $0.49 | $0.46 | $0.21 | $0.15 | $0.26 | $0.29 | $-0.20 | $0.32 | $0.23 | $0.50 | $0.58 | $0.44 | $0.38 | $0.32 | $0.47 | |
| Shares (Basic) | 515,200,000 | 517,500,000 | 517,500,000 | -1,035,500,000 | 515,700,000 | 519,100,000 | 517,400,000 | -1,012,400,000 | 516,500,000 | 518,400,000 | 487,000,000 | -981,000,000 | 490,700,000 | 490,700,000 | 489,600,000 | -978,600,000 | |
| Shares (Diluted) | 516,000,000 | 518,200,000 | 518,300,000 | -1,037,200,000 | 516,500,000 | 519,900,000 | 518,200,000 | -1,014,000,000 | 517,200,000 | 519,200,000 | 487,900,000 | -982,200,000 | 491,400,000 | 491,400,000 | 490,200,000 | -979,700,000 | |
| EBITDA | $216M | $323M | $310M | · | $154M | $146M | $249M | · | $222M | $129M | $232M | · | $315M | $255M | $219M | · |
Balance Sheet 15
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PP&E (Net) | $887M | $904M | $930M | $949M | $975M | $988M | $978M | $946M | $905M | $899M | $807M | · | $806M | $750M | $760M | · | |
| PP&E (Gross) | · | · | · | $1.89B | · | · | · | $1.91B | · | · | · | · | · | · | · | · | |
| Accum. Depreciation | · | · | · | $945M | · | · | · | $962M | · | · | · | · | · | · | · | · | |
| Goodwill | $6.30B | $6.30B | $6.29B | $6.21B | $6.21B | $6.20B | $6.19B | $6.21B | $6.20B | $6.20B | $6.01B | $6.00B | $6.01B | $6.01B | $5.94B | $5.78B | |
| Intangibles | $4.02B | $4.09B | $4.15B | $4.17B | $4.44B | $4.54B | $4.68B | $4.80B | $5.27B | $5.33B | $4.82B | · | $4.99B | $5.07B | $5.15B | · | |
| Total Assets | $36.24B | $34.11B | $32.55B | $32.37B | $32.55B | $31.99B | $32.39B | $32.46B | $33.25B | $32.91B | $29.87B | · | $30.23B | $29.09B | $29.34B | · | |
| Deferred Tax | $341M | $337M | $318M | $262M | $264M | $211M | $280M | $285M | $421M | $438M | $393M | · | $451M | $340M | $258M | · | |
| Total Liabilities | $21.84B | $19.49B | $18.16B | $18.18B | $18.12B | $16.81B | $17.05B | $17.90B | $18.35B | $18.07B | $16.15B | · | $16.65B | $15.68B | $14.80B | · | |
| Long-term Debt | $2.40B | $2.25B | $2.36B | $2.36B | $2.67B | $2.67B | $2.78B | $2.78B | $3.04B | $3.04B | $3.05B | · | $3.36B | $3.36B | $3.37B | · | |
| Common Stock | $51M | $52M | $52M | $52M | $52M | $52M | $52M | $52M | $52M | $53M | $50M | · | $50M | $50M | $50M | · | |
| Retained Earnings | $11.52B | $11.56B | $11.54B | $11.52B | $11.61B | $11.73B | $11.92B | $11.93B | $12.32B | $12.27B | $12.40B | · | $12.36B | $12.26B | $12.11B | · | |
| AOCI | $-494M | $-489M | $-448M | $-447M | $-413M | $-499M | $-524M | $-420M | $-488M | $-479M | $-450M | $-509M | $-462M | $-478M | $-496M | $-621M | |
| Stockholders' Equity | $11.74B | $12.12B | $12.13B | $12.08B | $12.20B | $12.35B | $12.46B | $12.51B | $12.87B | $12.86B | $12.00B | · | $11.95B | $11.83B | $11.67B | · | |
| Liabilities + Equity | $36.24B | $34.11B | $32.55B | $32.37B | $32.55B | $31.99B | $32.39B | $32.46B | $33.25B | $32.91B | $29.87B | · | $30.23B | $29.09B | $29.34B | · | |
| Shares Outstanding | 507,507,250 | 519,620,511 | 519,974,911 | 520,951,796 | 518,373,940 | 525,404,160 | 523,967,899 | 523,596,548 | 522,059,992 | 526,185,104 | 494,734,214 | · | 499,012,841 | 500,912,066 | 500,265,643 | · |
Cash Flow 16
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $32M | $29M | $29M | $31M | $34M | $30M | $30M | $30M | $29M | $32M | $26M | $26M | $25M | $28M | $25M | $27M | |
| Stock-based Comp | $23M | $53M | $76M | $45M | $50M | $47M | $73M | $52M | $63M | $65M | $67M | $45M | $16M | $52M | $70M | $47M | |
| Deferred Tax | $2M | $29M | $63M | $-9M | $2M | $-42M | $2M | $-90M | $-20M | $43M | $-58M | $-9M | $106M | $67M | $-122M | $42M | |
| Amort. of Intangibles | $51M | $51M | $55M | $69M | $112M | $112M | $113M | $84M | $84M | $85M | $86M | $86M | $85M | $86M | $83M | $82M | |
| Other Non-cash | · | · | $-678M | · | · | · | $-414M | · | · | · | $-538M | · | · | · | $-394M | · | |
| Operating Cash Flow | $581M | $-28M | $-255M | $-21M | $1.28B | $-50M | $-145M | $558M | $528M | $137M | $-252M | $764M | $614M | $-73M | $-256M | $866M | |
| CapEx | · | · | · | $31M | $14M | $38M | $72M | $70M | $46M | $42M | $20M | $27M | $79M | $15M | $27M | $35M | |
| Investing Cash Flow | $-1.66B | $-1.36B | $-317M | $-441M | $-881M | $-364M | $-656M | $-1.20B | $-812M | $-273M | $-138M | $-332M | $-1.08B | $-1.18B | $-1.04B | $-649M | |
| Stock Issued | $0 | · | · | $14M | $0 | · | · | $14M | $0 | · | · | $10M | $0 | · | · | $12M | |
| Stock Repurchased | $346M | $57M | $42M | $67M | $157M | $10M | $6M | $102M | $102M | $12M | $59M | $186M | $52M | $4M | $14M | $27M | |
| Net Stock Activity | · | · | $-42M | · | · | · | $-6M | · | · | · | $-59M | · | · | · | $-14M | · | |
| Dividends Paid | $176M | $176M | $170M | $171M | $173M | $173M | $166M | $167M | $168M | $166M | $156M | $152M | $153M | $153M | $148M | $146M | |
| Financing Cash Flow | $1.27B | $1.49B | $487M | $88M | $-16M | $292M | $88M | $909M | $274M | $391M | $-159M | $-386M | $572M | $1.03B | $959M | $96M | |
| Net Change in Cash | $192M | $84M | $-89M | $-383M | $418M | $-106M | $-764M | $297M | $-13M | $245M | $-523M | $15M | $109M | $-224M | $-280M | $304M | |
| Free Cash Flow | · | · | · | · | · | · | $-217M | · | · | · | $-271M | · | · | · | $-284M | · | |
| Levered FCF | · | · | · | · | · | · | $-234M | · | · | · | $-286M | · | · | · | $-306M | · |
Profitability 7
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 9.2% | 14.1% | 12.1% | · | 7.5% | 6.9% | 9.7% | · | 10.5% | 6.0% | 10.4% | · | 16.0% | 13.2% | 9.9% | · | |
| Net Margin | 7.3% | 11.7% | 11.0% | · | 4.5% | 7.2% | 7.3% | · | 8.2% | 5.8% | 12.6% | · | 11.6% | 10.1% | 8.4% | · | |
| Pretax Margin | 15.7% | 19.4% | 19.4% | · | 8.6% | 2.0% | 13.9% | · | 14.1% | 11.1% | 16.6% | · | 16.9% | 22.4% | 11.7% | · | |
| EBITDA Margin | 9.2% | 14.1% | 13.3% | · | 7.5% | 6.9% | 11.1% | · | 10.5% | 6.0% | 11.7% | · | 16.0% | 13.2% | 11.1% | · | |
| ROA | 0.50% | 0.81% | 0.79% | · | 0.28% | 0.47% | 0.53% | · | 0.55% | 0.40% | 0.85% | · | 0.79% | 0.71% | 0.61% | · | |
| ROE | 1.4% | 2.2% | 2.1% | · | 0.74% | 1.2% | 1.3% | · | 1.4% | 1.0% | 2.1% | · | 1.9% | 1.7% | 1.4% | · | |
| ROIC | 1.3% | 2.1% | 1.8% | · | 0.83% | 0.32% | 1.3% | · | 1.3% | 0.74% | 1.3% | · | 2.0% | 1.7% | 1.2% | · |
Liquidity & Solvency 1
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest Coverage | 9.2 | 16.2 | 13.8 | · | 6.0 | 7.0 | 9.5 | · | 8.7 | 4.7 | 11.0 | · | 9.0 | 7.6 | 6.3 | · |
Efficiency 1
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · |
Valuation (TTM) 11
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $9.04B | $8.80B | $8.75B | · | $8.55B | $8.64B | $8.52B | · | $8.24B | $8.04B | $7.85B | · | $7.89B | $8.01B | $8.30B | · | |
| Net Income TTM | $788M | $767M | $663M | · | $581M | $613M | $713M | · | $777M | $797M | $839M | · | $844M | $966M | $1.22B | · | |
| Market Cap | $16.88B | $12.27B | $12.42B | · | $12.36B | $10.11B | $10.63B | · | $11.67B | $14.79B | $14.74B | · | $13.33B | $13.49B | $13.20B | · | |
| P/E | 23.6 | 17.4 | 20.6 | · | 23.4 | 17.5 | 15.1 | · | 15.0 | 18.1 | 18.2 | · | 16.3 | 14.3 | 11.1 | · | |
| P/S | 1.9 | 1.4 | 1.4 | · | 1.4 | 1.2 | 1.2 | · | 1.4 | 1.8 | 1.9 | · | 1.7 | 1.7 | 1.6 | · | |
| P/B | 1.4 | 1.0 | 1.0 | · | 1.0 | 0.8 | 0.9 | · | 0.9 | 1.2 | 1.2 | · | 1.1 | 1.1 | 1.1 | · | |
| P / Tangible Book | 11.9 | 7.1 | 7.4 | · | 8.0 | 6.3 | 6.7 | · | 8.3 | 11.1 | 12.6 | · | 14.2 | 17.9 | 23.2 | · | |
| P / Cash Flow | · | · | -48.7 | · | · | · | -73.2 | · | · | · | -58.5 | · | · | · | -51.5 | · | |
| P / FCF | · | · | · | · | · | · | -49.0 | · | · | · | -54.3 | · | · | · | -46.5 | · | |
| Earnings Yield | 4.2% | 5.8% | 4.9% | · | 4.3% | 5.7% | 6.6% | · | 6.7% | 5.5% | 5.5% | · | 6.1% | 7.0% | 9.0% | · | |
| Payout Ratio | · | · | 66.6% | · | · | · | 101.6% | · | · | · | 62.0% | · | · | · | 89.6% | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 | |
|---|---|---|---|---|---|
| Revenue | $8.77B | $8.48B | $7.85B | $8.28B | $8.43B |
| Operating Margin % | 6.9% | 4.8% | 14.0% | 21.4% | 22.2% |
| Net Income | $525M | $465M | $883M | $1.29B | $1.83B |
| Diluted EPS | $0.91 | $0.85 | $1.72 | $2.53 | $3.57 |
Cash Flow
| 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 | |
|---|---|---|---|---|---|
| Free Cash Flow | $912M | $794M | $990M | $1.87B | $1.17B |
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Institutional owners (13F) 718 filers · $7.3B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 119 (+19 vs prior Q) | 48 (0 vs prior Q) | 224 (+15 vs prior Q) | 215 (+14 vs prior Q) | +20.1M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| Power Corp of Canada | $843,062,831 | 25,340,031 | 11.59% | Shares |
| VANGUARD GROUP INC | $811,729,809 | 33,977,807 | 11.16% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $669,912,676 | 20,135,638 | 9.21% | Shares |
| STATE STREET CORP | $662,930,550 | 19,733,211 | 9.12% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $456,980,784 | 13,735,521 | 6.28% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $313,906,539 | 9,435,124 | 4.32% | Shares |
| Azora Capital LP | $229,849,821 | 6,908,621 | 3.16% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $229,346,094 | 6,908,199 | 3.15% | Shares |
| ProShare Advisors LLC | $200,362,752 | 6,022,325 | 2.76% | Shares |
| Artemis Investment Management LLP | $176,703,923 | 5,311,209 | 2.43% | Shares |
| GOLDMAN SACHS GROUP INC | $136,998,361 | 4,117,775 | 1.88% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $107,846,235 | 3,241,546 | 1.48% | Shares |
| Verition Fund Management LLC | $99,156,012 | 2,980,343 | 1.36% | Shares |
| NORGES BANK | $98,359,461 | 2,956,401 | 1.35% | Shares |
| BARCLAYS PLC | $92,279,667 | 2,773,660 | 1.27% | Shares |
| Balyasny Asset Management L.P. | $74,846,488 | 2,249,669 | 1.03% | Shares |
| Holocene Advisors, LP | $58,680,096 | 1,763,754 | 0.81% | Shares |
| Vest Financial, LLC | $58,465,936 | 1,757,317 | 0.80% | Shares |
| Woodline Partners LP | $58,179,449 | 1,748,706 | 0.80% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $57,280,626 | 1,721,690 | 0.79% | Shares |
| FIRST TRUST ADVISORS LP | $56,667,731 | 1,703,268 | 0.78% | Shares |
| TWO SIGMA INVESTMENTS, LP | $49,231,382 | 1,479,753 | 0.68% | Shares |
| NOMURA ASSET MANAGEMENT CO LTD | $45,724,625 | 1,374,350 | 0.63% | Shares |
| Point72 Asset Management, L.P. | $44,683,307 | 1,343,051 | 0.61% | Shares |
| Kopernik Global Investors, LLC | $43,935,397 | 1,320,571 | 0.60% | Shares |
| Allianz Asset Management GmbH | $43,339,665 | 1,302,665 | 0.60% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $41,656,136 | 1,252,063 | 0.57% | Shares |
| BlackRock, Inc. | $38,714,236 | 1,163,638 | 0.53% | Shares |
| Quantinno Capital Management LP | $38,605,883 | 1,160,381 | 0.53% | Shares |
| Freestone Grove Partners LP | $32,469,291 | 975,933 | 0.45% | Shares |
| CITADEL ADVISORS LLC | $30,263,390 | 909,630 | 0.42% | Shares |
| Longaeva Partners L.P. | $30,254,607 | 909,366 | 0.42% | Shares |
| WEDGE CAPITAL MANAGEMENT L L P/NC | $29,453,573 | 1,246,976 | 0.41% | Shares |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | $27,167,217 | 816,568 | 0.37% | Shares |
| BANK OF AMERICA CORP /DE/ | $26,429,522 | 794,395 | 0.36% | Shares |
| Swiss Life Asset Management Ltd | $23,644,823 | 710,695 | 0.33% | Shares |
| TWO SIGMA ADVISERS, LP | $23,622,432 | 988,800 | 0.32% | Shares |
| Cubist Systematic Strategies, LLC | $23,087,144 | 998,147 | 0.32% | Shares |
| Vanguard Global Advisers, LLC | $22,082,730 | 663,743 | 0.30% | Shares |
| FIRST CITIZENS BANK & TRUST CO | $19,645,635 | 590,491 | 0.27% | Shares |
| FOUNDATION RESOURCE MANAGEMENT INC | $19,400,753 | 583,131 | 0.27% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $19,362,275 | 581,974 | 0.27% | Shares |
| California Public Employees Retirement System | $19,251,453 | 578,643 | 0.26% | Shares |
| RHUMBLINE ADVISERS | $19,157,977 | 575,836 | 0.26% | Shares |
| Swiss National Bank | $19,120,269 | 574,700 | 0.26% | Shares |
| Envestnet Portfolio Solutions, Inc. | $18,178,495 | 546,393 | 0.25% | Shares |
| Mitsubishi UFJ Asset Management Co., Ltd. | $18,077,554 | 543,359 | 0.25% | Shares |
| Alyeska Investment Group, L.P. | $18,005,358 | 541,189 | 0.25% | Shares |
| SEB Asset Management AB | $15,963,814 | 479,827 | 0.22% | Shares |
| Caisse de depot et placement du Quebec | $15,882,200 | 477,373 | 0.22% | Shares |
| Sound Income Strategies, LLC | $15,836,572 | 476,002 | 0.22% | Shares |
| Meiji Yasuda Asset Management Co Ltd. | $15,464,295 | 464,812 | 0.21% | Shares |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | $14,633,337 | 446,300 | 0.20% | Shares |
| COMMONWEALTH EQUITY SERVICES, LLC | $14,630,470 | 439,750 | 0.20% | Shares |
| Fideuram Asset Management (Ireland) dac | $14,254,703 | 452,093 | 0.20% | Shares |
| MACKENZIE FINANCIAL CORP | $13,943,790 | 419,110 | 0.19% | Shares |
| LPL Financial LLC | $12,463,091 | 374,604 | 0.17% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $12,343,170 | 371,000 | 0.17% | Call option |
| ARGENT CAPITAL MANAGEMENT LLC | $12,081,501 | 363,135 | 0.17% | Shares |
| RAYMOND JAMES FINANCIAL INC | $11,811,885 | 355,031 | 0.16% | Shares |
| JANE STREET GROUP, LLC | $11,488,131 | 345,300 | 0.16% | Call option |
| Erste Asset Management GmbH | $11,413,797 | 344,100 | 0.16% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $11,019,357 | 331,210 | 0.15% | Shares |
| Squarepoint Ops LLC | $10,882,085 | 327,084 | 0.15% | Shares |
| YOUSIF CAPITAL MANAGEMENT, LLC | $10,494,782 | 315,443 | 0.14% | Shares |
| BancorpSouth Bank | $10,051,741 | 420,751 | 0.14% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $9,561,499 | 287,391 | 0.13% | Shares |
| Cambria Investment Management, L.P. | $9,445,020 | 283,890 | 0.13% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $9,249,061 | 278,000 | 0.13% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $9,225,372 | 277,288 | 0.13% | Shares |
| FIL Ltd | $9,172,838 | 275,709 | 0.13% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $9,119,407 | 274,103 | 0.13% | Shares |
| Focus Partners Wealth | $9,036,069 | 271,525 | 0.12% | Shares |
| Engineers Gate Manager LP | $8,760,024 | 263,301 | 0.12% | Shares |
| Cresset Asset Management, LLC | $8,229,142 | 244,915 | 0.11% | Shares |
| UBS Group AG | $8,199,159 | 246,443 | 0.11% | Shares |
| AMERIPRISE FINANCIAL INC | $7,983,206 | 239,557 | 0.11% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $7,918,865 | 335,261 | 0.11% | Shares |
| XTX Topco Ltd | $7,771,706 | 233,595 | 0.11% | Shares |
| Public Sector Pension Investment Board | $7,490,042 | 225,129 | 0.10% | Shares |
| Altrius Capital Management Inc | $7,408,974 | 222,692 | 0.10% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $7,232,100 | 217,376 | 0.10% | Shares |
| Del-Sette Capital Management, LLC | $7,062,855 | 212,289 | 0.10% | Shares |
| SCHAPER BENZ & WISE INVESTMENT COUNSEL INC/WI | $6,982,042 | 209,860 | 0.10% | Shares |
| ALLIANCEBERNSTEIN L.P. | $6,824,479 | 288,928 | 0.09% | Shares |
| Schonfeld Strategic Advisors LLC | $6,751,712 | 202,937 | 0.09% | Shares |
| Sumitomo Mitsui Trust Group, Inc. | $6,273,158 | 188,553 | 0.09% | Shares |
| CHATHAM CAPITAL GROUP, INC. | $6,135,820 | 184,425 | 0.08% | Shares |
| CITADEL ADVISORS LLC | $6,088,410 | 183,000 | 0.08% | Call option |
| APG Asset Management N.V. | $6,066,413 | 208,468 | 0.08% | Shares |
| Cannell & Spears LLC | $5,922,659 | 178,018 | 0.08% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $5,830,035 | 175,234 | 0.08% | Shares |
| Kinloch Capital, LLC | $5,736,646 | 172,427 | 0.08% | Shares |
| Fire Capital Management LLC | $5,733,519 | 172,333 | 0.08% | Shares |
| PNC Financial Services Group, Inc. | $5,574,122 | 167,542 | 0.08% | Shares |
| Uncommon Cents Investing LLC | $5,511,974 | 165,674 | 0.08% | Shares |
| NATIXIS | $5,387,278 | 161,926 | 0.07% | Shares |
| Robeco Institutional Asset Management B.V. | $5,343,760 | 160,618 | 0.07% | Shares |
| Point72 Europe (London) LLP | $5,264,450 | 227,603 | 0.07% | Shares |
| IEQ CAPITAL, LLC | $5,117,218 | 153,808 | 0.07% | Shares |
Company insiders 53 insiders · 28 officers · 24 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Jennifer M Johnson | Chief Executive Officer | July 21, 2026 A | 3,554,034 | 0 | 0 | $0 |
| Martin L Flanagan | President and Co-CEO | Dec. 15, 2004 A | 664,146 | 0 | 0 | $0 |
| Matthew Nicholls | Co-President, CFO & COO | July 21, 2026 A | 778,797 | 0 | 0 | $0 |
| Kenneth A Lewis | EVP and CFO | Dec. 20, 2018 F | 149,378 | 0 | 0 | $0 |
| BAIO JAMES R | EVP, CFO and Treasurer | Sept. 29, 2006 F | 23,610 | 0 | 0 | $0 |
| Daniel Gamba | Co-President, Chief Commercial | July 21, 2026 A | 672,720 | 0 | 0 | $0 |
| Terrence Murphy | Co-President, Public Markets | July 21, 2026 A | 416,009 | 0 | 0 | $0 |
| Vijay Chandur Advani | Co-President | Nov. 1, 2016 A | 99,800 | 0 | 0 | $0 |
| Penelope S Alexander | Vice-President, HR - US | Feb. 16, 2011 S | 20,467 | 0 | 0 | $0 |
| Gregory E Johnson | Executive Chairman | Dec. 26, 2025 G | 27,716 | 0 | 0 | $0 |
| Thomas C Merchant | EVP, General Counsel | Dec. 1, 2025 F | 92,612 | 0 | 0 | $0 |
| Lindsey Harumi Oshita | Chief Accounting Officer | Oct. 14, 2025 A | 28,727 | 0 | 0 | $0 |
| Alok Sethi | EVP, Head of Global Operations | Aug. 31, 2025 F | 90,510 | 0 | 0 | $0 |
| Adam Benjamin Spector | EVP, Head Global Distribution | Aug. 31, 2025 F | 593,282 | 0 | 0 | $0 |
| Gwen L Shaneyfelt | Chief Accounting Officer | Dec. 1, 2023 F | 99,732 | 0 | 0 | $0 |
| Jed A. Plafker | Executive Vice President | Aug. 31, 2022 F | 117,648 | 0 | 0 | $0 |
| Craig Steven Tyle | EVP & General Counsel | Dec. 13, 2021 A | 134,220 | 0 | 0 | $0 |
| Rupert H. Johnson, Jr. | Vice Chairman | Dec. 26, 2019 S | 102,453,045 | 0 | 0 | $0 |
| William Young Yun | EVP-Alternative Strategies | Aug. 31, 2015 F | 152,711 | 0 | 0 | $0 |
| John M Lusk | EVP-Investment Management | Aug. 31, 2015 F | 42,888 | 0 | 0 | $0 |
| Holly E Gibson | Vice President, Corp Comm | Dec. 15, 2010 S | 5,068 | 0 | 0 | $0 |
| Norman Rickard Frisbie JR | SVP & Chief Admin Officer | Dec. 1, 2010 F | 17,336 | 0 | 0 | $0 |
| Donna S Ikeda | VP - HR International | Dec. 1, 2010 F | 12,565 | 0 | 0 | $0 |
| Leslie M Kratter | SVP & Assistant Secretary | Aug. 31, 2010 F | 26,316 | 0 | 0 | $0 |
| SIMPSON MURRAY | Executive Vice President | June 9, 2009 S | 15,371 | 0 | 0 | $0 |
| GREEN BARBARA J | VP, Dep Gen Counsel & Sec | May 2, 2007 M | 11,927 | 0 | 0 | $0 |
| Harmon E Burns | Vice Chariman | Oct. 31, 2006 S | 830,970 | 0 | 0 | $0 |
| Charles R Sims | Vice President | Jan. 31, 2005 A | 33,710 | 0 | 0 | $0 |
| Karen Matsushima King | Director | July 1, 2026 A | — | 0 | 0 | $0 |
| John Y Kim | Director | July 1, 2026 A | — | 0 | 0 | $0 |
| Alexander S Friedman | Director | Feb. 3, 2026 A | — | 0 | 0 | $0 |
| John W Thiel | Director | Feb. 3, 2026 A | 40,792 | 0 | 0 | $0 |
| Seth H. Waugh | Director | Feb. 3, 2026 A | 2,414 | 0 | 0 | $0 |
| Anthony Noto | Director | Feb. 3, 2026 A | 47,152 | 0 | 0 | $0 |
| Mariann H Byerwalter | Director | Feb. 3, 2026 A | 34,781 | 0 | 0 | $0 |
| Geoffrey Y Yang | Director | Feb. 3, 2026 A | 74,064 | 0 | 0 | $0 |
| Laura Stein | Director | Jan. 4, 2021 A | 3,047 | 0 | 0 | $0 |
| Mark C Pigott | Director | Jan. 1, 2021 I | 857 | 0 | 0 | $0 |
| Charles Endler Johnson | Director | Feb. 12, 2019 A | 30,310 | 0 | 0 | $0 |
| Samuel H Armacost | Director | March 10, 2015 A | — | 0 | 0 | $0 |
| Anne M Tatlock | Director | Nov. 5, 2014 G | 480,230 | 0 | 0 | $0 |
| Charles Crocker | Director | March 11, 2014 A | 8,660 | 0 | 0 | $0 |
| Sanchayan Ratnathicam | Director | March 14, 2012 A | 4,952 | 0 | 0 | $0 |
| Joseph R Hardiman | Director | March 14, 2012 A | 7,404 | 0 | 0 | $0 |
| Peter M Sacerdote | Director | July 1, 2011 A | 29,319 | 0 | 0 | $0 |
| Robert D Joffe | Director | Jan. 1, 2010 A | 6,848 | 0 | 0 | $0 |
| Louis E Woodworth | Director | March 11, 2009 A | 1,028,751 | 0 | 0 | $0 |
| Thomas H Kean | Director | Jan. 25, 2005 A | 10,030 | 0 | 0 | $0 |
| JOHNSON CHARLES B | 10% owner | Dec. 26, 2025 G | 90,108,421 | 2 | 0 | $2,134,500 |
| FRANKLIN RESOURCES INC | — | July 20, 2026 S | 5,103,658 | 1 | 5 | $-93,749,992 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 9 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| FRANKLIN RESOURCES INC, JOHNSON CHARLES B, JOHNSON RUPERT H JR, BSP FUND HOLDCO (DEBT STRATEGY) LP ×64 filings | Aug. 12, 2026 | 4.80% | Amendment | Passive investment | SEC |
| Franklin Resources, Inc., Charles B. Johnson 2, Rupert H. Johnson, Jr. 3, Franklin Advisers, Inc. ×109 filings | Dec. 12, 2024 | — | Initial filing | Passive investment | SEC |
| Franklin Resources, Inc. (, Charles B. Johnson, Rupert H. Johnson, Jr., Templeton Asset Management Ltd. ×5 filings | Feb. 2, 2009 | — | Initial filing | — | SEC |
| Templeton Asset Management Ltd., Franklin Resources, Inc. (, Charles B. Johnson, Rupert H. Johnson, Jr. ×13 filings | Dec. 31, 2007 | — | Initial filing | — | SEC |
| Franklin Advisers, Inc., Franklin Resources, Inc. (, Charles B. Johnson, Rupert H. Johnson, Jr. ×6 filings | Aug. 30, 2007 | — | Initial filing | — | SEC |
| Franklin Advisory Services, LLC, Franklin Resources, Inc., Charles B. Johnson, Rupert H. Johnson, Jr. ×4 filings | March 3, 2006 | — | Initial filing | — | SEC |
| John H. Norberg, Jr. | Dec. 27, 2005 | — | Initial filing | Passive investment | SEC |
| Franklin Advisers, Inc. ("FAI"), Franklin Resources, Inc., Charles B. Johnson, Rupert H. Johnson, Jr. ×3 filings | March 31, 2004 | — | Initial filing | — | SEC |
| Franklin Advisory Services, LLC ("FAS"), Franklin Resources, Inc., Charles B. Johnson, Rupert H. Johnson, Jr. | Feb. 5, 2004 | — | Initial filing | — | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 167 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| DIVY · Tidal Trust I | 3.30% | 30,203 NS | May 31, 2026 | N-PORT |
| SNPD · DBX ETF Trust | 2.22% | 1,867 NS | May 29, 2026 | N-PORT |
| TMDV · ProShares Trust | 1.86% | 2,648 NS | May 31, 2026 | N-PORT |
| SPHD · Invesco Exchange-Traded Fund Trust … | 1.83% | 1,850,178 SH | Aug. 8, 2026 | Daily |
| PEY · Invesco Exchange-Traded Fund Trust | 1.68% | 579,775 SH | Aug. 8, 2026 | Daily |
| NOBL · ProShares Trust | 1.67% | 5,955,642 NS | May 31, 2026 | N-PORT |
| KNG · First Trust Exchange-Traded Fund IV | 1.60% | 1,799,892 NS | April 30, 2026 | N-PORT |
| DVYA · iShares, Inc. | 1.43% | 126,237 SH | Aug. 8, 2026 | Daily |
| RSPF · Invesco Exchange-Traded Fund Trust | 1.29% | 117,550 SH | Aug. 8, 2026 | Daily |
| DIVD · EA Series Trust | 1.24% | 7,249 NS | April 30, 2026 | N-PORT |
| RPV · Invesco Exchange-Traded Fund Trust | 1.24% | 624,653 SH | Aug. 8, 2026 | Daily |
| KBWD · Invesco Exchange-Traded Fund Trust … | 1.23% | 153,770 SH | Aug. 8, 2026 | Daily |
| SYLD · Cambria ETF Trust | 1.17% | 376,050 NS | April 30, 2026 | N-PORT |
| FXO · First Trust Exchange-Traded AlphaDE… | 1.13% | 404,831 NS | April 30, 2026 | N-PORT |
| RFDA · ALPS ETF Trust | 1.07% | 30,312 NS | May 31, 2026 | N-PORT |
| SPVM · Invesco Exchange-Traded Fund Trust | 1.04% | 40,151 SH | Aug. 8, 2026 | Daily |
| DVY · iShares Trust | 0.92% | 6,355,356 SH | Aug. 8, 2026 | Daily |
| IIGD · Invesco Exchange-Traded Self-Indexe… | 0.66% | 202,000 | Aug. 8, 2026 | Daily |
| AUSF · Global X Funds | 0.56% | 151,727 NS | May 31, 2026 | N-PORT |
| QLC · FlexShares Trust | 0.54% | 162,960 NS | April 30, 2026 | N-PORT |
| QDEF · FlexShares Trust | 0.54% | 95,118 NS | April 30, 2026 | N-PORT |
| QDF · FlexShares Trust | 0.54% | 380,160 NS | April 30, 2026 | N-PORT |
| DFAT · Dimensional ETF Trust | 0.50% | 2,289,927 NS | April 30, 2026 | N-PORT |
| NUSC · Nushares ETF Trust | 0.39% | 167,584 NS | April 30, 2026 | N-PORT |
| IQSM · New York Life Investments ETF Trust | 0.38% | 39,433 NS | April 30, 2026 | N-PORT |
| FNK · First Trust Exchange-Traded AlphaDE… | 0.36% | 25,698 NS | April 30, 2026 | N-PORT |
| ISCV · iShares Trust | 0.30% | 61,399 SH | Aug. 8, 2026 | Daily |
| CSM · ProShares Trust | 0.28% | 47,906 NS | May 31, 2026 | N-PORT |
| FNX · First Trust Exchange-Traded AlphaDE… | 0.26% | 115,282 NS | April 30, 2026 | N-PORT |
| BKMC · BNY Mellon ETF Trust | 0.25% | 52,004 NS | April 30, 2026 | N-PORT |
| DFSV · Dimensional ETF Trust | 0.22% | 552,201 NS | April 30, 2026 | N-PORT |
| VBR · VANGUARD INDEX FUNDS | 0.22% | 4,539,450 SH | Aug. 8, 2026 | Daily |
| AFMC · First Trust Exchange-Traded Fund VI… | 0.21% | 11,099 NS | May 31, 2026 | N-PORT |
| VFVA · VANGUARD WELLINGTON FUND | 0.21% | 54,195 SH | Aug. 8, 2026 | Daily |
| DFVE · DoubleLine ETF Trust | 0.20% | 2,361 NS | March 31, 2026 | N-PORT |
| RSP · Invesco Exchange-Traded Fund Trust | 0.20% | 5,959,547 SH | Aug. 8, 2026 | Daily |
| BSCU · Invesco Exchange-Traded Self-Indexe… | 0.20% | 6,120,000 | Aug. 8, 2026 | Daily |
| GMOV · GMO ETF Trust | 0.20% | 5,801 NS | May 31, 2026 | N-PORT |
| SCHM · SCHWAB STRATEGIC TRUST | 0.18% | 830,332 NS | May 31, 2026 | N-PORT |
| BBMC · J.P. Morgan Exchange-Traded Fund Tr… | 0.17% | 115,982 NS | April 30, 2026 | N-PORT |
| JVAL · J.P. Morgan Exchange-Traded Fund Tr… | 0.17% | 40,618 NS | April 30, 2026 | N-PORT |
| PFIG · Invesco Exchange-Traded Fund Trust … | 0.16% | 220,000 | Aug. 8, 2026 | Daily |
| JPUS · J.P. Morgan Exchange-Traded Fund Tr… | 0.16% | 23,780 NS | April 30, 2026 | N-PORT |
| AFLG · First Trust Exchange-Traded Fund VI… | 0.16% | 33,103 NS | May 31, 2026 | N-PORT |
| ESML · iShares Trust | 0.16% | 133,148 SH | Aug. 8, 2026 | Daily |
| VFMO · VANGUARD WELLINGTON FUND | 0.15% | 89,541 SH | Aug. 8, 2026 | Daily |
| ISCB · iShares Trust | 0.15% | 12,505 SH | Aug. 8, 2026 | Daily |
| IYG · iShares Trust | 0.14% | 92,563 SH | Aug. 8, 2026 | Daily |
| WSML · iShares Trust | 0.14% | 58,716 SH | Aug. 8, 2026 | Daily |
| IYF · iShares Trust | 0.14% | 179,162 SH | Aug. 8, 2026 | Daily |