Franklin Resources vs Invesco
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KIRA’s take AI analyst
I put Franklin Resources and Invesco side by side, using each one’s latest annual report. Here is what stands out:
- Franklin Resources is the larger business, with $8.8B of revenue in fiscal 2025 against $6.4B for Invesco.
- Invesco grew revenue faster (5.1%, against 3.5%).
- Franklin Resources kept more of each dollar of sales as operating profit (6.9% operating margin, against −10.9%).
- Invesco turned more of its sales into free cash flow (22.6% FCF margin, against 10.4%).
- Franklin Resources earned a higher return on the capital invested in it (3.6%, against −3.8%).
Who comes out ahead
Of the 8 measures where higher (or lower) is clearly better, how many each company leads.
Franklin Resources
BEN
5/8
5-year growthOperating marginNet marginReturn on capitalReturn on equity
Invesco
IVZ
3/8
Revenue growthFCF marginShare count change
Side by side
Best in the row
| Latest fiscal year | BEN FY25 | IVZ FY25 |
|---|---|---|
| Size | ||
| Market cap | $16.0B | $13.0B |
| Revenue | $8.8B | $6.4B |
| Free cash flow | $912M | $1.4B |
| Net income | $525M | −$726M |
| Growth | ||
| Revenue growth | 3.5% | 5.1% |
| 5-year growth | 9.5% | 0.7% |
| Share count change | 1.4% | −0.6% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 6.9% | −10.9% |
| Net margin | 6.0% | −11.4% |
| FCF margin | 10.4% | 22.6% |
| Return on capital | 3.6% | −3.8% |
| Return on equity | 4.3% | −5.4% |
| Balance sheet | ||
| Net debt | −$1.2B | $788M |
| Net debt / EBITDA | −1.7x | — |
| Dividends and buybacks | $924M | $501M |
| Valuation & quality | ||
| P/E | 21.1x | — |
| Piotroski F-score | — | — |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.