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Top analysts & firms
All analyzed callsNot limited to the selected quarter · analysts and firms with 2 or more questions
What does “challenging” mean?
Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
Most active analysts
Analyst
Firm
Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
Filed after the FY2026 Q2 call day (Apr 28, 2026) through the next call day (Jul 31, 2026)From SEC 8-K filings
No 8-K events recorded for this window.
Quarter in detail
· FY2026 Q2
Macro signals
→Trade & Tariffs→Credit→Consumer Spending
Franklin Templeton delivered strong Q2 FY2026 with revenue up 8.7% and EPS doubling year-over-year, as long-term net inflows of $16.9 billion featured record gross sales across all regions. Alternatives raised $14.3 billion including Lexington contributions, Canvas reached $22.9 billion with 72% CAGR since acquisition, and adjusted operating income rose 25.8% with margin expansion on track. ETFs hit $61.6 billion, the FranklinCrypto initiative was announced, and private credit reached $96 billion.
Key themes
7
positive📊 company
Long-Term Net Inflows Of $16.9B With Record Gross Sales Across All Regions
Long-term net inflows $16.9 billion with record long-term gross inflows of $118 billion, up 38% from prior year excluding reinvested distributions. Positive net flows in every region. Non-US gross sales grew 29% QOQ. Multi-asset 19th consecutive positive quarter at $9.5B. Ex-Western fixed income 9th consecutive positive quarter.
Subscriber Growth
Key financials
FY2026 Q2 selectedReported GAAP figures from SEC filings
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Quarter
Revenue
Rev YoY
EPS
EPS YoY
Op margin
Net margin
FY2024 Q4
$2.21B
+11.3%
$-0.19
-132.8%
-6.8%
-3.8%
FY2025 Q1
$2.25B
+13.1%
$0.29
-42.0%
9.7%
7.3%
FY2025 Q2
$2.11B
-1.9%
$0.26
+13.0%
6.9%
7.2%
FY2025 Q3
$2.06B
-2.8%
$0.15
-53.1%
7.5%
4.5%
FY2025 Q4
$2.34B
+6.0%
$0.21
+210.5%
3.6%
5.0%
FY2026 Q1
$2.33B
+3.4%
$0.46
+58.6%
12.1%
11.0%
FY2026 Q2Selected
$2.29B
+8.7%
$0.49
+88.5%
14.1%
11.7%
FY2026 Q3
$2.36B
+14.3%
$0.31
+106.7%
9.2%
7.3%
As stated by management
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
EPS
“adjusted operating income was $475 million, increasing 8.5% quarter-over-quarter and 25.8% from the prior-year quarter”
Revenue
“long-term inflows of $118 billion, up 28% quarter-over-quarter and 38% over the prior-year quarter, excluding reinvested distributions”
Revenue Growth
positive📊 company
Alternatives Raise $14.3B With Private Markets At $13.2B, Lexington Contributing
Private market fundraising $13.2 billion, diversified across 30+ vehicles. Credit was largest contributor. Lexington meaningful but flagship Fund XI details pending filing. YTD $22.7B already matching full-year FY2025 total. Expect to exceed $30B annual target (raised from $25-$30B). 40% of alts fundraising from outside US. No catch-up fees in quarter.
Product LaunchRevenue Growth
positive📊 company
Canvas Reaches $22.9B With 72% CAGR Since Acquisition
Canvas custom indexing reached record $22.9 billion AUM, 27% increase from prior quarter, $5.3 billion net flows. AUM doubled in 12 months. 72% CAGR since acquisition. Grown 10x since acquired. Platform expanded beyond direct indexing to options overlays, risk-factor overlays, fundamental manager tax optimization, 130/30 long/short, and muni bond ladders. Tax-managed products total $110 billion AUM.
Product LaunchSubscriber Growth
positive📊 company
Adjusted OI Up 25.8% YOY To $475M With Margin Expansion On Track
Adjusted operating income $475 million, up 8.5% QOQ and 25.8% from prior year. Full-year expenses about 1.5% above FY2025 but revenue growing at 4x that rate (at least 6%). Q4 margin target high 29s, full year 27s. Margin expansion ahead of plan, on way to 30%+ in fiscal 2027.
MarginRevenue Growth
positive📊 company
ETFs Reach $61.6B Record With Active ETFs At 45% Of AUM
ETF AUM record $61.6 billion, up 67% from prior year. Net inflows $4.5 billion, 18th consecutive positive quarter. Active ETFs now 45% of AUM. PVAL nearing $10 billion (doubled in 6 months). Converted 10 muni mutual funds generating $600M+ flows. Country ETFs grew $3B+ (Korea, Japan, Taiwan). Fiscal YTD organic flow growth 49%.
Product LaunchSubscriber Growth
positive📊 company
FranklinCrypto Announced With 250 Digital Acquisition And Tokenized ETF Expansion
Announced acquisition of 250 Digital and launch of FranklinCrypto for institutional crypto venture. Eight tokenized ETFs on Kraken, five on Ondo. Benji integrated with stablecoin platforms. Top 5 exchanges have roughly 1 billion wallets as new distribution channel. 250 Digital targeting institutional clients starting fall.
Product LaunchCompetitive Dynamics
positive📊 company
Private Credit Platform At $96B With No BDC Or Heavy Software Exposure
Alternative credit at $96 billion AUM was largest contributor to quarter's fundraising. BSP and BSP Europe contributed across CLOs, opportunity funds, real estate debt, special situations from 15+ funds. Middle market focused with disciplined underwriting. Less than 10% exposure to software. No BDC. $20B in industry private credit redemptions potentially benefiting diversified players like Franklin.
Franklin Templeton delivered strong Q2 FY2026 with revenue up 8.7% and EPS doubling year-over-year, as long-term net inflows of $16.9 billion featured record gross sales across all regions.
PositiveLong-Term Net Inflows Of $16.9B With Record Gross Sales Across All Regions
PositiveAlternatives Raise $14.3B With Private Markets At $13.2B, Lexington Contributing
PositiveCanvas Reaches $22.9B With 72% CAGR Since Acquisition
Analyst challenge ratePercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. · all analyzed quarters
1%company-level, not the selected quarter
GAAP revenue YoY +8.69% → base 7. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.
▸How this score was built
Base7Base 7GAAP revenue YoY +8.69% → base 7. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.+Transcript0Transcript 0Revenue growth driven by higher average AUM, strong organic flows, and stable fee rates. Both periods include Putnam (clean YoY). No GAAP distortion to correct. Growth reflects genuine platform momentum across ETFs, alternatives, and SMAs.
Share price · trailing year
daily closes, last 12 months — not scoped to the selected quarter · dots mark earnings calls, colored by that quarter’s score
BEN $31.681Y +40.2%YTD +32.6%● earnings calls (score)
35.7721.18668
Oct 25Oct 26
Sources.Tellvest earnings-call sentiment score for Franklin Resources (BEN), FY2026 Q2: 8/10. Scores: Franklin Resources’s public earnings-call transcripts and SEC-reported results — the base band is anchored to reported GAAP revenue growth; transcript, EPS and guidance adjustments are applied separately (documented exceptions apply to a few issuers). Price: BEN daily closing prices for the trailing year; dots mark earnings calls, colored by that quarter’s score; the newest quarter’s score is part of Tellvest Pro. How to read a company earnings-call score.
Guidance
“if expenses increased by 1.5%, we would expect investment management fee revenue to increase by at least 6% year-over-year, all else equal”
Key metric
“Our assets under management of $1.68 trillion remain well-diversified”
+
EPS+1EPS +1Serial acquirer rule triggered: ~$194M quarterly intangible amortization from Legg Mason/Putnam. GAAP operating income YoY +122.05%, GAAP EPS YoY +100.00%, both inflated by prior-year amortization base effects. Using adjusted figures: adjusted operating income YoY +25.8% ($475M vs $377.2M). Adjusted operating income spread = +25.8% - 8.69% = +17.1 percentage points (well above +5 percentage points). Margin expansion is genuine, driven by $200M cost savings program, operational leverage, and revenue growth outpacing expenses. Not an accounting artifact.
+
Guidance0Guidance 0Management provides enhanced disclosure: expenses ~1.5% above FY2025 with revenue growing 4x that rate, Q4 margin high 29s, full year 27s. Alts target now above $30B (vs $25-30B at year start). These are operational frameworks and directional targets, not formal revenue or EPS guidance introduced, raised, or lowered in the traditional sense.
=
Final8
How this score was built
Base7Base 7GAAP revenue YoY +8.69% → base 7. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.+Transcript0Transcript 0Revenue growth driven by higher average AUM, strong organic flows, and stable fee rates. Both periods include Putnam (clean YoY). No GAAP distortion to correct. Growth reflects genuine platform momentum across ETFs, alternatives, and SMAs.+EPS+1EPS +1Serial acquirer rule triggered: ~$194M quarterly intangible amortization from Legg Mason/Putnam. GAAP operating income YoY +122.05%, GAAP EPS YoY +100.00%, both inflated by prior-year amortization base effects. Using adjusted figures: adjusted operating income YoY +25.8% ($475M vs $377.2M). Adjusted operating income spread = +25.8% - 8.69% = +17.1 percentage points (well above +5 percentage points). Margin expansion is genuine, driven by $200M cost savings program, operational leverage, and revenue growth outpacing expenses. Not an accounting artifact.+Guidance0Guidance 0Management provides enhanced disclosure: expenses ~1.5% above FY2025 with revenue growing 4x that rate, Q4 margin high 29s, full year 27s. Alts target now above $30B (vs $25-30B at year start). These are operational frameworks and directional targets, not formal revenue or EPS guidance introduced, raised, or lowered in the traditional sense.=Final8
Mentions
Calendar Q1 2026
What BEN said about other companies on its FY2026 Q2 call, and what other companies said about BEN on their calls covering the same calendar quarter (Q1 2026). Each company's own fiscal quarter is shown next to its name. Extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
Revenue rose 27% year over year to $6.7 billion and as-adjusted earnings per share of $12.53 was 11% higher, as $130 billion of net inflows drove 8% organic base fee growth, BlackRock's seventh consecutive quarter at or above 5%
Northern Trust extended its positive operating leverage streak to seven consecutive quarters, posting record NII of $662 million, up 15% year-over-year, and EPS of $2.71, up 43%
Record quarterly revenue of $3.8 billion grew 16% excluding notable items with fee revenue surging 15% and NII breaking out at 17% growth, as State Street achieved its ninth straight quarter of operating leverage
Revenue rose 27% year over year to $6.7 billion and as-adjusted earnings per share of $12.53 was 11% higher, as $130 billion of net inflows drove 8% organic base fee growth, BlackRock's seventh consecutive quarter at or above 5%
Northern Trust extended its positive operating leverage streak to seven consecutive quarters, posting record NII of $662 million, up 15% year-over-year, and EPS of $2.71, up 43%
Record quarterly revenue of $3.8 billion grew 16% excluding notable items with fee revenue surging 15% and NII breaking out at 17% growth, as State Street achieved its ninth straight quarter of operating leverage