FactSet Research Systems Inc. FDS

FinancialsProfessional & Commercial ServicesUnited States of America

Last close 329.57 USD on Nov 1, 2026, +15.1% year to date

Quant rating

Quant rating A Rank 42 of 799 in Financials

Growth B 281 of 799
Valuation C 440 of 799
Quality A 8 of 799
Revisions B 190 of 799
Momentum B 139 of 799

Wall Street consensus Hold (3.10)Average target 287.52 USD −12.8%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 11.6B
Enterprise value: 12.7B
52-week range: 185.01 – 339.79
3-year range: 185.01 – 495.72
Dividend yield: 1.41%
Beta (5 years): 0.72
Shares outstanding: 35.3M
Next earnings: Dec 16, 2026

About the company

FactSet Research Systems Inc. is a global financial digital platform and enterprise solutions provider. The Company's solutions deliver financial data, analytics, and open technology to global clients, including individual users. Its segments include the Americas, EMEA and Asia Pacific. It provides financial data and market intelligence on securities, companies, industries and people to enable its clients to research investment ideas and analyze, monitor and manage their portfolios. It supports various workflows, including investment research, quantitative research, portfolio management and trading, portfolio analytics, wealth management, ESG investing solutions, industry analysis and data solutions. It provides open and flexible technology offerings, including a configurable desktop and mobile platform, and comprehensive data feeds. Its technology also includes LogoIntern, a workflow tool to streamline the task of adding, organizing, and formatting logos into pitch decks.

Growth and profitability fiscal year ends August 31

Growth and profitability by fiscal year
	2026	2025	2024	2023	2022	5Y avg
Revenue (mil)	2,476	2,322	2,203	2,086	1,844	–
Revenue growth	6.7%	5.4%	5.6%	13.1%	15.9%	9.2%
EPS (basic, normalized)	18.01	16.98	16.45	14.55	13.43	–
EPS growth	6.1%	3.2%	13.1%	8.3%	–	–
Gross margin	50.6%	52.7%	54.1%	53.3%	52.8%	52.7%
Net margin	21.5%	25.7%	24.4%	22.4%	21.5%	23.1%
ROE	25.5%	29.1%	30.4%	31.7%	33.8%	30.1%

Balance sheet, last quarter
Cash & short-term investments (mil)	265
Current ratio	0.60x
Long-term debt (mil)	871
Net debt (mil)	1,105
Total equity (mil)	2,002
Net debt / equity	0.55x
Net debt / EBITDA	1.21x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2026 actual	2,476	+6.7%	5.1x	911	−1.2%	14.0x	18.01	+6.1%	18.3x
2027	2,620	+5.8%	4.9x	1,024	+12.3%	12.4x	19.62	+9.0%	16.8x
2028	2,775	+5.9%	4.6x	1,088	+6.2%	11.7x	21.74	+10.8%	15.2x
2029	2,921	+5.3%	4.4x	1,157	+6.4%	11.0x	24.25	+11.5%	13.6x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2027	2,620	+0.1%	+0.2%	+0.8%	19.62	+0.2%	−0.2%	+1.1%
2028	2,775	0.0%	+0.3%	+0.9%	21.74	0.0%	−0.1%	+1.5%
2029	2,921	+0.3%	+1.1%	+2.3%	24.25	+1.5%	−0.1%	+4.8%

Earnings surprises EPS beat in 4 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	May 2024	Aug 2024	Nov 2024	Feb 2025	May 2025	Aug 2025	Nov 2025	Feb 2026	May 2026	Aug 2026
Sales reported (mil)	553	562	569	571	586	597	608	611	623	635
Sales mean (mil)	553	547	565	571	581	593	600	605	618	630
Surprise	0.0%	+2.8%	+0.6%	0.0%	+0.9%	+0.6%	+1.2%	+1.1%	+0.8%	+0.8%
EPS reported	4.37	3.74	4.37	4.28	4.27	4.05	4.51	4.46	4.53	4.52
EPS mean	3.90	3.62	4.26	4.16	4.29	4.13	4.37	4.38	4.46	4.33
Surprise	+12.0%	+3.3%	+2.5%	+2.9%	−0.6%	−1.9%	+3.2%	+1.9%	+1.6%	+4.3%

Peer comparison Professional & Commercial Services

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
FDS FactSet Research Systems Inc.	11.6B	1.21x	21.5%	5.80x	16.8x	15.2x	12.4x	11.7x
SPGI S&P Global Inc.	135.3B	2.06x	29.2%	6.86x	26.1x	23.2x	18.9x	17.8x
ADP Automatic Data Processing Inc	116.2B	0.26x	20.1%	22.83x	23.8x	21.7x	16.9x	15.7x
WM Waste Management Inc	92.8B	3.05x	10.7%	9.41x	28.8x	26.1x	14.2x	13.3x
CTAS Cintas Corporation	87.3B	0.70x	17.7%	16.87x	39.7x	35.6x	26.2x	24.0x
MCO Moody's Corporation	85.2B	1.38x	31.9%	26.06x	29.5x	26.5x	20.6x	19.1x
Mean		1.44x	21.9%	14.64x	27.4x	24.7x	18.2x	16.9x
Median		1.30x	20.8%	13.14x	27.5x	24.6x	17.9x	16.7x

Technical analysis

1M+23.1%
3M+16.5%
1Y+16.3%
3Y−18.7%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, FactSet Research Systems Inc., fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Total revenue	2,476	2,322	2,203	2,086	1,844	1,591
Cost of revenue	1,223	1,098	1,012	973	871	786
Gross profit	1,253	1,224	1,191	1,112	973	805
Selling, general & administrative expenses	553	476	485	457	433	331
Research & development	–	–	–	–	–	–
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	–	–	4.7	25.9	64.3	–
Other operating expenses	0	0	0	0	0	0
Operating income	700	748	701	629	475	474
Net interest income (expense)	−50.6	−49.8	−51.3	−53.5	−29.5	−6.4
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	0.4	22.4	1.5	8.3	−2.4	0
Net income before taxes	650	721	652	584	444	468
Provision for taxes	116	124	114	116	46.7	68.0
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	533	597	537	468	397	400
Extraordinary items	–	–	–	–	–	–
Net income	533	597	537	468	397	400
EBIT, normalized	791	753	712	682	574	493
EBITDA, normalized	972	911	848	802	679	568
Basic EPS, normalized	18.01	16.98	16.45	14.55	13.43	–

Balance sheet in millions of USD, fiscal years

Balance sheet, FactSet Research Systems Inc., fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Assets
Cash & short-term investments	265	355	493	458	536	718
Receivables	301	271	228	238	204	151
Total inventory	–	–	–	–	–	–
Prepaid expenses	81.6	97.5	115	74.8	130	64.5
Other current assets	6.3	6.5	0	0	0	0
Total current assets	655	730	836	770	870	934
Property, plant & equipment	193	207	213	228	240	370
Goodwill	1,283	1,285	1,011	1,005	966	754
Intangibles	1,850	1,916	1,844	1,859	1,896	135
Long-term investments	–	–	–	–	–	–
Note receivable	–	–	–	–	–	–
Other long-term assets	163	167	151	101	41.9	31.7
Total assets	4,143	4,304	4,055	3,963	4,014	2,225
Liabilities
Accounts payable	–	–	–	–	–	–
Payable/accrued	136	135	178	122	108	85.8
Accrued expenses	227	164	124	142	144	136
Short-term debt	–	0	0	0	0	0
Current portion of long-term debt	499	0	125	–	–	–
Other current liabilities	230	222	240	221	186	93.9
Total current liabilities	1,092	521	667	484	438	316
Long-term debt	871	1,368	1,241	1,613	1,982	575
Minority interest	–	–	–	–	–	–
Other liabilities	178	228	234	246	262	318
Total liabilities	2,141	2,118	2,143	2,343	2,683	1,209
Shareholders' equity
Preferred stock	–	0	–	0	0	0
Common stock	–	0.4	0.4	0.4	0.4	0.4
Additional paid-in capital	–	1,622	1,479	1,324	1,190	1,048
Retained earnings (accumulated deficit)	–	2,323	1,889	1,505	1,180	913
Treasury stock	–	−1,695	−1,376	−1,122	−931	−906
Other equity	2,002	−63.7	−79.6	−87.1	−108	−39.0
Total equity	2,002	2,186	1,912	1,620	1,331	1,016
Total liabilities & shareholders' equity	4,143	4,304	4,055	3,963	4,014	2,225

Cash flow statement in millions of USD, fiscal years

Cash flow statement, FactSet Research Systems Inc., fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Operating activities
Net income	533	597	537	468	397	400
Depreciation, depletion & amortization	181	158	125	105	86.7	64.5
Deferred taxes	−14.3	−3.5	−32.0	−31.1	−8.7	−4.6
Non-cash items	134	80.8	98.6	120	163	87.9
Changes in working capital	−11.6	−106	−28.5	−17.2	−99.9	7.9
Cash from operations	822	726	700	646	538	555
Investing activities
Capital expenditures	−115	−109	−85.7	−60.8	−51.2	−61.3
Other investing cash flows	−17.8	−284	−58.6	−34.6	−1,983	−74.7
Cash from investing	−133	−393	−144	−95.4	−2,034	−136
Financing activities
Financing cash flow items	−23.0	−27.5	−16.7	−13.7	−15.6	−4.3
Cash dividends paid	−164	−160	−151	−139	−126	−118
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−612	−220	−394	−480	1,481	−201
Cash from financing	−799	−408	−561	−632	1,339	−323
Foreign exchange effects	−2.3	3.0	2.4	4.0	−22.4	−0.3
Net change in cash	−112	−71.3	−2.5	−77.8	−179	96.3
Free cash flow	707	617	615	585	487	494

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.