Track market-moving stories before they get noisy

Key Takeaways FDS' AI offerings drove more than 10% of new ASV in fiscal Q4'26, with more than 650 clients engaged in MCP.AI-driven automation cut data processing times by over 75%, while fiscal 2026 FCF rose 14% to $707M.FDS faces rising AI competition, slowing ASV growth & margin pressures despite projected earnings growth.
FactSet’s (FDS - Free Report) expanding artificial intelligence (AI) capabilities and growing adoption of model context protocol (MCP) solutions are driving new revenue opportunities and deeper client engagement. Rising demand for AI-enabled data feeds and analytics supports cross-selling and long-term growth. Meanwhile, AI-driven automation, workforce optimization and organizational simplification are enhancing operating efficiency, while strengthening operating leverage, supporting margin expansion and driving sustained earnings and free cash flow growth.

The company’s first-quarter fiscal 2027 earnings are expected to increase 11.1% year over year. Its fiscal 2027 and 2028 earnings are projected to rise 9% and 10.5%, respectively. Revenues are anticipated to grow 5.8% in fiscal 2027 and fiscal 2028.

Factors That Bodes Well for FDS’ SuccessAI Adoption & Expanding Data Drive Long-Term Growth: FactSet's expanding AI capabilities are creating new revenue opportunities and deepening client relationships. In fourth-quarter fiscal 2026, AI-enabled offerings contributed more than 10% of new annual subscription value (ASV). More than 650 clients were engaged in MCP contracts or trials at fiscal year-end, while MCP application programming interface (API) call volumes surged sevenfold sequentially. Clients adopting AI solutions recorded ASV growth at twice the rate of the broader client base, highlighting rising demand and cross-selling opportunities. Moreover, double-digit growth in data ASV reflects increasing adoption of direct feeds, APIs and AI-driven delivery channels. Continued integration of AI into financial workflows should support sustained client expansion and long-term revenue growth.

AI-Driven Efficiency Supports Margin Expansion: FactSet's organizational restructuring and AI-driven automation are enhancing operating efficiency and creating capacity for growth investments. In fiscal 2026, the company reduced headcount and expanded AI-assisted engineering initiatives to streamline operations. Automation reduced private markets data processing times by more than 75%, while its client assistance agent now resolves more than 30% of user requests without human intervention.

The shift toward a unified product organization and lower operating complexity should further improve cost efficiency. Continued automation and disciplined resource allocation are expected to strengthen operating leverage, supporting sustained margin expansion, earnings growth and free cash flow generation.

Free Cash Flow & Shareholder Returns Aid Long-Term Value: FactSet's sustained cash generation supports higher shareholder distributions and financial flexibility. Free cash flow increased from $584.8 million in fiscal 2023 to $614.7 million in fiscal 2024 and $617.5 million in fiscal 2025. In fiscal 2026, free cash flow rose more than 14% to $707 million, including $177 million in the fourth quarter despite restructuring costs. Share repurchases more than doubled to $644 million, reducing shares outstanding by nearly 7%. Total capital returned through dividends and buybacks exceeded $800 million, up more than 75% year over year. Rising cash generation and disciplined capital allocation should sustain shareholder returns while providing capacity for strategic investments and long-term earnings growth.

Watch Out for These Risks to FDS StockRising AI Competition & Pricing Uncertainty: FactSet faces increasing competition as financial data providers and AI platforms expand their MCP-enabled offerings. The shift toward agent-driven workflows could weaken demand for traditional workstations and reduce pricing power. Meanwhile, growing reliance on consumption-based pricing introduces revenue variability and reduces visibility into forecasts. AI monetization remains in its early stages, with adoption varying across clients. Intensifying competition and evolving customer preferences could constrain client expansion, limit pricing flexibility and slow revenue growth. These uncertainties may challenge FactSet's ability to sustain predictable long-term growth despite increasing AI adoption.

Margin Pressure & Slowing Growth Threaten Earnings: FactSet's infrastructure, cybersecurity and product investments weighed on fiscal 2026 profitability, with adjusted operating margin contracting 180 basis points to 34.5%. Higher incentive compensation recognized ahead of associated revenues added to margin pressure. Management expects organic ASV growth to moderate to 5-6.5% in fiscal 2027 from 7% in fiscal 2026. Higher taxes and refinancing costs on $500 million of notes maturing in March 2027 are expected to reduce EPS growth by approximately two percentage points. Despite a projected 25-75 basis-point margin recovery, slower growth and continued investment needs could constrain earnings expansion. Delays in realizing productivity gains may further limit profitability improvement.

FDS’ Zacks Rank & Stocks to ConsiderFactSet currently carries a Zacks Rank #3 (Hold) at present. 

A couple of better-ranked stocks in the broader Business Services sector are The GEO Group, Inc. (GEO - Free Report) and GFL Environmental Inc. (GFL - Free Report) .

The GEO Group carries a Zacks Rank #2 (Buy) at present. It has a long-term earnings growth expectation of 14%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

GEO beat earnings estimates in three of the trailing four quarters and matched once, delivering an earnings surprise of 24.6%, on average.

GFL Environmental also holds a Zacks Rank of 2 at present. It has a long-term earnings growth expectation of 23.6%.

GFL beat earnings estimates in two of the trailing four quarters and missed twice, with an average earnings surprise of 19.4%.

Integration streamlines investor onboarding to private funds, digitalizes fund subscriptions, and centralizes investment reporting for institutional investors wealth managers

, /PRNewswire/ -- SUBSCRIBE, the global fintech company providing the leading enterprise operating system for alternative investments, today announced a strategic partnership with FactSet (NYSE: FDS| NASDAQ: FDS), a leading global data and AI solutions provider to the financial markets. The partnership integrates SUBSCRIBE's private markets workflow and data solution into FactSet's leading platform for trusted data, research, & analytics, and advisor and client intelligence, delivering an end-to-end private markets experience for institutional investors and wealth managers.

The integration provides FactSet's clients with seamless investor onboarding to private funds, digitalized fund subscriptions, and centralized post-trade investment reporting, enabling investors to manage, analyze, and monitor private and public investments side by side within a single platform.

"Our goal has always been to rebuild the critical infrastructure and data layers required for managing private market fund investments," said Rafay Farooqui, Founder and CEO of SUBSCRIBE. "FactSet is one of the investment and wealth management industries' leading providers of portfolio performance, risk analytics, and reporting software. Together, we can deliver a truly superior end-to-end experience to institutional and wealth management investors at scale."

"This partnership creates meaningful value for our clients, streamlining and synthesizing data for greater visibility into private market portfolios," said Greg King, Senior Director and Head of Wealth Management at FactSet. "As inflows to alternative investments continue to grow, our integrated offering with SUBSCRIBE is uniquely positioned to deliver value across the total portfolio, including both public and private investments."

SUBSCRIBE currently serves both institutional investment and wealth management firms, supporting over $6 trillion in private market assets for leading institutional investors and alternative asset managers, and more than 55,000 financial advisors across 1200 wealth management firms. The partnership extends SUBSCRIBE's reach to FactSet's more than 8,600 global clients and 219,000 individual users, equipping them with alternative investment workflow tools embedded directly into their existing research, analytics, and investment processes.

For more information, visit www.subscribeplatform.com or www.factset.com.

About SUBSCRIBE
SUBSCRIBE is a fintech company digitally transforming the landscape of alternative investments for alternative asset managers, institutional investors, wealth managers, law firms, and fund administrators. Our platform technology modernizes the archaic infrastructure of private fund investments by delivering a central operating system — catering to every role within the investment process empowering them to connect any fund, any investor, anywhere in the world on a single platform. SUBSCRIBE supports over $6 trillion in private market assets and is the trusted technology partner to thousands of firms that rely on our end-to-end enterprise solution to scale their private market investment programs and manage investment processes across pre-trade, trade, and post-trade fund workflows. For additional information, visit www.subscribeplatform.com or follow the company on LinkedIn.

Media Contact:
[email protected]

SOURCE SUBSCRIBE

Strong commercial execution and AI momentum drive organic ASV growth of 7.0%

NORWALK, Conn., Sept. 30, 2026 (GLOBE NEWSWIRE) -- FactSet (NYSE: FDS) (NASDAQ: FDS), a leading global intelligence and AI solutions provider to the financial markets, today announced results for its fourth quarter and fiscal 2026 ended August 31, 2026.

 Q4 and Fiscal 2026 Highlights Robust growth: Q4 GAAP revenues grew 6.3% year over year to $634.7 million, with organic revenues up 7.1%. Organic ASV increased by $168.2 million year over year to $2,568.2 million, up 7.0%.Commercial excellence: Enterprise relationships deepened. Annual ASV retention remained above 95%. During Q4, average renewal contract length increased by ~30%.AI momentum: AI solutions ASV added in fiscal 2026 more than doubled year over year.Capital returns: FactSet returned more than $179 million to shareholders in Q4, including $138 million in share repurchases and more than $41 million in dividends. During fiscal 2026, FactSet returned $808 million to shareholders and achieved its twenty-seventh consecutive year of dividend increases. "FactSet delivered strong results, highlighted by a record increase in organic ASV for both the fourth quarter and fiscal year with continued momentum across our AI and data solutions. During the year, we accelerated innovation, strengthened commercial execution, and improved productivity across the organization.

"As demand for trusted financial intelligence continues to grow, FactSet's high-quality data, embedded workflows, service excellence, and deep client relationships position us to drive sustainable growth and long-term shareholder value."

- Sanoke Viswanathan, CEO

Key Financial Measures*

(Condensed and Unaudited)Three Months Ended  Twelve Months Ended LatestAugust 31,  August 31, FY2026(Results in thousands, except per share data) 2026  2025 Change  2026  2025 ChangeGuidanceRevenues$634,698 $596,901 6.3 % $2,476,256 $2,321,748 6.7 %$2,450 - $2,470MOrganic revenues$635,543 $593,503 7.1 % $2,464,614 $2,309,287 6.7 % Operating income$156,624 $177,321 (11.7)% $699,957 $748,303 (6.5)% Adjusted operating income$209,393 $201,701 3.8 % $855,308 $843,432 1.4 % Operating margin 24.7% 29.7%   28.3% 32.2% 29.5% - 31.0%Adjusted operating margin 33.0% 33.8%   34.5% 36.3% 34.0% - 35.5%Net income$121,127 $153,616 (21.1)% $533,481 $597,040 (10.6)% Adjusted net income$160,887 $154,590 4.1 % $659,498 $651,617 1.2 % Adjusted EBITDA$209,212 $244,555 (14.5)% $911,407 $934,973 (2.5)% Diluted EPS$3.41 $4.03 (15.4)% $14.57 $15.55 (6.3)%$14.85 - $15.35Adjusted diluted EPS$4.52 $4.05 11.6 % $18.01 $16.98 6.1 %$17.25 - $17.75 * See reconciliation of U.S. GAAP to adjusted key financial measures in the back of this press release.

Fourth Quarter Fiscal 2026 Highlights

GAAP revenues increased 6.3% or $37.8 million to $634.7 million compared with $596.9 million in the prior year period.Organic revenues grew 7.1% year over year to $635.5 million.Annual Subscription Value ("ASV") was $2,565.2 million at August 31, 2026.Organic ASV was $2,568.2 million at August 31, 2026, up 7.0% or $168.2 million year over year.GAAP operating margin was 24.7% compared with 29.7% in the prior year period, primarily due to higher employee compensation costs, mainly driven by one-time restructuring charges and ASV-linked incentive plans, partially offset by an increase in revenues.Adjusted operating margin, which excludes acquisition-related intangible asset amortization and non-recurring items, was 33.0% compared with 33.8% in the prior year period, mainly due to higher compensation expense from ASV-linked incentive plans and technology-related expenses.GAAP diluted EPS was $3.41 compared with $4.03 for the same period in fiscal 2025, mainly driven by higher operating expenses, including non-recurring items, and a gain on the divestiture of a business in the prior year, partially offset by growth in revenues and a lower share count.Adjusted diluted EPS increased 11.6% to $4.52 compared with $4.05 in the prior year period, driven by growth in revenues and a lower share count.Net cash provided by operating activities was $204.7 million for the fourth quarter of fiscal 2026, a decrease of 3.5% compared with the prior year period.Free cash flow was $177.3 million for the fourth quarter of fiscal 2026, a decrease of 0.5% compared with the prior year period.GAAP effective tax rate decreased to 16.1% compared with 18.7% for the prior year period primarily due to the favorable resolution of uncertain tax positions in the U.S.
Full Year Fiscal 2026 Highlights

GAAP revenues increased 6.7% or $154.5 million to $2.48 billion. This result continues FactSet's track record of 47 consecutive years of increased revenues for the Company.GAAP operating margin was 28.3% compared with 32.2% for the prior year, primarily due to higher employee compensation costs, mainly driven by one-time restructuring charges, ASV-linked incentive plans and one-time CEO compensation costs, partially offset by growth in revenues.Adjusted operating margin was 34.5% compared with 36.3% in the prior year, mainly due to higher compensation expense from ASV-linked incentive plans and technology expenses.GAAP diluted EPS was $14.57 compared with $15.55 in the prior year period, mainly driven by higher operating expenses, including non-recurring items, partially offset by growth in revenues and a lower share count.Adjusted diluted EPS increased 6.1% to $18.01, primarily driven by growth in revenues and a lower share count. Fiscal 2026 marks the 30th consecutive year that FactSet has increased its adjusted diluted EPS.Net cash provided by operating activities was $822.2 million for fiscal 2026, an increase of 13.2% compared with the prior year period.Free cash flow was $707.5 million for fiscal 2026, an increase of 14.6% compared with the prior year period.GAAP effective tax rate increased to 17.9% compared with 17.2% for the prior year period primarily due to a stock-based compensation tax shortfall and the limitation on the deductibility of executive compensation, partially offset by the favorable resolution of uncertain tax positions in the U.S. Annual Subscription Value (ASV)

ASV at any given point in time represents the forward-looking revenues for the next 12 months from all subscription services currently supplied to clients. Organic ASV at any point in time equals our ASV excluding ASV from acquisitions and the comparable impact of dispositions and discontinued lines of business effected within the last 12 months and the impact of foreign currency movements.

ASV was $2,565.2 million at August 31, 2026, compared with $2,405.6 million at August 31, 2025. Organic ASV was $2,568.2 million at August 31, 2026, up $168.2 million from the prior year, for a growth rate of 7.0%.

Segment Revenues and ASV

(Results in millions)Aug. 31, 2026
ASVAug. 31, 2025
ASVAug. 31, 2026 Organic ASVOrganic ASV
GrowthQ4 FY26 RevenuesQ4 FY25
RevenuesOrganic Revenues GrowthAmericas$1,678.2$1,570.1$1,678.27.1%$414.3$388.76.7%EMEA$620.9$591.6$623.65.2%$154.8$147.46.6%APAC$266.1$243.9$266.410.6%$65.6$60.811.0%
Share Repurchase Program

FactSet repurchased 552,064 shares of its common stock for $138.0 million at an average price of $249.90 during the fourth quarter of fiscal 2026 under the Company’s share repurchase program. As of August 31, 2026, $356.0 million remained available for share repurchases under this program.

Annual Business Outlook

Fiscal 2027 Expectations:

Metric GuidanceOrganic ASV Growth5.0% – 6.5%Revenues$2,600 – $2,625 million GAAPAdjustedOperating Margin31.0% – 32.0%34.75% – 35.25%Diluted EPS$17.00 – $17.50$19.25 – $19.65
Adjusted operating margin and adjusted diluted EPS guidance do not include certain effects of any non-recurring benefits or charges that may arise in fiscal 2027. Please see the back of this press release for a reconciliation of GAAP to adjusted metrics.

Conference Call

Fourth Quarter 2026 Conference Call Details

Date:Wednesday, September 30, 2026Time:   9:00 a.m. Eastern TimeParticipant Registration: FactSet Q4 2026 Earnings Call Registration
Please register for the conference call using the above link in advance of the call start time. Upon registration, you will receive dial-in information and a unique access PIN. The earnings presentation will be available on FactSet’s Investor Relations website at 8:30 a.m. Eastern Time on September 30, 2026, 30 minutes before the earnings call begins.

A replay will be available on the Investor Relations website after 1:00 p.m. Eastern Time on September 30, 2026, and will remain accessible through September 30, 2027. A transcript of the earnings call will be available via FactSet CallStreet.

Forward-looking Statements

This press release contains forward-looking statements based on management's current expectations, estimates, forecasts and projections about future events, trends, contingencies, and circumstances, industries in which FactSet operates and the beliefs and assumptions of management. All statements that address expectations, guidance, outlook or projections about the future, including statements about the Company's strategy, product development, revenues, future financial results, anticipated growth, market position, subscriptions, expected expenditures or investments, trends in FactSet’s business and financial results, are forward-looking statements. Forward-looking statements may be identified by words like "may," "might," "will," "should," "expects," "plans," "anticipates," "believes," "estimates," "intends," "projects," "indicates," "predicts," "potential," or "continue," the negative of those terms, and similar expressions. Forward-looking statements are not guarantees of future performance, outcomes, events, or actions and involve a number of known and unknown risks, uncertainties, and assumptions. Many factors, including those discussed more fully elsewhere in this release and in FactSet's filings with the Securities and Exchange Commission, particularly its latest annual report on Form 10-K, including Item 1A, Risk Factors, and quarterly reports on Form 10-Q, as well as others, could cause results, performance, achievements, or activities to differ materially from those expressed or implied by the forward-looking statements. Accordingly, the Company cautions readers not to place undue reliance on any forward-looking statements, which speak only as of the date they are made. FactSet assumes no duty to and does not undertake to update or revise any forward-looking statement to reflect events or circumstances arising after the date on which it is made, except as required by applicable law. Future results could differ materially from historical performance.

About Non-GAAP Financial Measures

The Company reports its financial results in accordance with U.S. GAAP. The Company also refers to and presents certain additional non-GAAP financial measures. These measures include: organic revenues, adjusted operating margin, adjusted operating income, adjusted net income, EBITDA, adjusted EBITDA, adjusted diluted EPS, and free cash flow. The Company has included reconciliations of these non-GAAP financial measures to the most directly comparable financial measures calculated in accordance with GAAP at the back of this release.

FactSet uses these non-GAAP financial measures both in presenting its results to stockholders and the investment community and in its internal evaluation and management of the business. The Company believes that these non-GAAP financial measures provide useful supplemental information to investors because they permit investors to view the Company’s performance using the same tools that management uses to gauge progress in achieving its goals. Investors may benefit from referring to these non-GAAP financial measures in assessing the Company’s performance and when planning, forecasting and analyzing future periods, and such measures may also facilitate comparisons to historical performance. The Company believes that organic revenues, adjusted operating margin, adjusted operating income, adjusted net income, EBITDA, adjusted EBITDA, and adjusted diluted EPS help to fully reflect the underlying economic performance of FactSet. The Company believes that free cash flow is useful to investors because it is an indication of cash flow that may be available to pay debt obligations, make strategic acquisitions and investments, pay dividends, repurchase stock, and strengthen the balance sheet. The presentation of this non-GAAP financial information should not be considered in isolation from, or as a substitute for, the financial information prepared and presented in accordance with GAAP. We are not able to provide reconciliations of certain forward-looking non-GAAP financial measures to comparable GAAP measures because certain items required for such reconciliations are outside of our control and/or cannot be reasonably predicted without unreasonable effort.

About FactSet

FactSet (NYSE: FDS | NASDAQ: FDS) supercharges financial intelligence, offering enterprise data and information solutions that help our clients maximize their potential. Our digital platform seamlessly integrates proprietary data, third-party sources, and flexible technology to deliver tailored solutions across the buy side, sell side, wealth, and corporate sectors. With over 48 years of expertise, we leverage advanced data connectivity, AI, and next-generation tools to streamline workflows and enable smarter decision-making. As an S&P 500 company serving more than 9,200 global clients and over 260,000 individual users, we are dedicated to innovation and long-term client success. Learn more at www.factset.com and follow us on X and LinkedIn.

Investor Relations:                         
Kevin Toomey
+1.212.209.5259
[email protected]

Media Relations:
Adam Dalezman
+1.203.810.1035
[email protected]

Consolidated Statements of Income(Unaudited)      Three Months Ended Twelve Months Ended August 31, August 31,(In thousands, except per share data) 2026  2025   2026   2025 Revenues$634,698 $596,901  $2,476,256  $2,321,748 Operating expenses      Cost of services 326,298  288,670   1,223,146   1,097,782 Selling, general and administrative 151,776  130,910   553,153   475,663 Total operating expenses 478,074  419,580   1,776,299   1,573,445        Operating income 156,624  177,321   699,957   748,303        Other income (expense), net      Interest income 1,442  2,050   4,064   6,533 Interest expense (14,398) (12,886)  (54,684)  (56,324)Other income (expense), net 703  22,466   379   22,446 Total other income (expense), net (12,253) 11,630   (50,241)  (27,345)       Income before income taxes 144,371  188,951   649,716   720,958        Provision for income taxes 23,244  35,335   116,235   123,918 Net income$121,127 $153,616  $533,481  $597,040        Basic earnings per common share$3.42 $4.07  $14.63  $15.74 Diluted earnings per common share$3.41 $4.03  $14.57  $15.55        Basic weighted average common shares 35,403  37,757   36,467   37,924 Diluted weighted average common shares 35,572  38,158   36,612   38,385 
Consolidated Balance Sheets(Unaudited)       (In thousands)August 31, 2026August 31, 2025ASSETS  Cash and cash equivalents$233,339$337,651Investments 31,993 17,445Accounts receivable, net of reserves of $13,584 at August 31, 2026 and $13,789 at August 31, 2025 301,439 270,684Prepaid taxes 11,406 33,600Prepaid expenses and other current assets 76,536 70,379Total current assets 654,713 729,759   Property, equipment and leasehold improvements, net 79,246 85,203Goodwill 1,283,025 1,284,708Intangible assets, net 1,849,510 1,916,102Deferred tax assets 74,550 61,226Lease right-of-use assets, net 113,275 121,776Other assets 88,524 105,498TOTAL ASSETS$4,142,843$4,304,272   LIABILITIES  Accounts payable and accrued expenses$136,104$135,262Current debt 499,436 —Current lease liabilities 34,253 33,145Accrued compensation 192,352 130,596Deferred revenues 184,264 167,852Current taxes payable 5,012 13,041Dividends payable 40,901 41,410Total current liabilities 1,092,322 521,306   Long-term debt 870,586 1,368,260Deferred tax liabilities 11,279 14,902Taxes payable 25,502 45,095Long-term lease liabilities 138,139 157,104Other liabilities 3,149 11,192TOTAL LIABILITIES$2,140,977$2,117,859   STOCKHOLDERS’ EQUITY  TOTAL STOCKHOLDERS’ EQUITY$2,001,866$2,186,413   TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY$4,142,843$4,304,272 Certain prior year figures have been conformed to the current year's presentation.

Consolidated Statements of Cash Flows (Unaudited)  Twelve Months Ended August 31,(In thousands) 2026  2025 CASH FLOWS FROM OPERATING ACTIVITIES  Net income$533,481 $597,040 Adjustments to reconcile net income to net cash provided by operating activities  Depreciation and amortization 180,830  157,691 Amortization of lease right-of-use assets 32,268  30,982 Stock-based compensation expense 84,099  61,229 Deferred income taxes (14,284) (3,545)Gain on divestiture of a business —  (23,238)Other, net 17,415  11,867 Changes in assets and liabilities, net of effects of acquisitions  Accounts receivable (37,387) (42,540)Prepaid expenses and other assets (2,209) 65 Accounts payable and accrued expenses (4,405) (59,400)Accrued compensation 62,553  35,666 Deferred revenues 15,813  2,249 Taxes payable, net of prepaid taxes (5,079) (1,161)Lease liabilities, net (40,895) (40,645)Net cash provided by operating activities 822,200  726,260    CASH FLOWS FROM INVESTING ACTIVITIES  Purchases of property, equipment, leasehold improvements and capitalized internal-use software (114,720) (108,806)Acquisition of businesses, net of cash and cash equivalents acquired —  (348,255)Purchases of investments (53,834) (18,867)Proceeds from maturity or sale of investments 36,050  58,155 Proceeds from divestiture —  25,000 Net cash provided by (used in) investing activities (132,504) (392,773)   CASH FLOWS FROM FINANCING ACTIVITIES  Proceeds from debt 240,933  803,410 Repayments of debt (242,500) (805,000)Dividend payments (164,184) (159,973)Proceeds from employee stock plans 33,289  81,688 Repurchases of common stock (643,961) (300,457)Deferred acquisition consideration (15,327) (10,199)Other financing activities (7,697) (17,290)Net cash provided by (used in) financing activities (799,447) (407,821)   Effect of exchange rate changes on cash, cash equivalents and restricted cash (2,309) 3,050 Net increase (decrease) in cash, cash equivalents and restricted cash (112,060) (71,284)Cash, cash equivalents and restricted cash at beginning of period 351,695  422,979 Cash, cash equivalents and restricted cash at end of period$239,635 $351,695    Reconciliation of total cash, cash equivalents and restricted cash:  Cash and cash equivalents$233,339 $337,651 Restricted cash included in Prepaid expenses and other current assets 6,296  6,522 Restricted cash included in Other assets —  7,522 Total cash, cash equivalents and restricted cash$239,635 $351,695  Certain prior year figures have been conformed to the current year's presentation.

Reconciliation of U.S. GAAP Results to Adjusted Financial Measures

Organic Revenues

Organic revenues exclude the current year impact of revenues from acquisitions and the comparable impact of dispositions and discontinued lines of business, effected within the past 12 months and the current year impact of foreign currency movements. The table below provides a reconciliation of revenues to organic revenues:

(Unaudited)Three Months Ended  Twelve Months Ended  August 31,  August 31, (In thousands) 2026 2025 Change  2026  2025 ChangeRevenues$634,698$596,901 6.3% $2,476,256 $2,321,748 6.7%Acquisition revenues — —    (10,066) —  Disposition revenues — (3,398)   —  (12,461) Currency impact 845 —    (1,576) —  Organic revenues$635,543$593,503 7.1% $2,464,614 $2,309,287 6.7%
Non-GAAP Financial Measures

The table below provides a reconciliation of operating income, operating margin, net income and diluted EPS to adjusted operating income, adjusted operating margin, adjusted net income, EBITDA, adjusted EBITDA, and adjusted diluted EPS.

Adjusted operating income and margin, adjusted net income, and adjusted diluted earnings per share exclude acquisition-related intangible asset amortization and non-recurring items. EBITDA represents earnings before interest expense, provision for income taxes and depreciation and amortization expense, while adjusted EBITDA further excludes non-recurring non-cash expenses.

 Three Months Ended  Twelve Months Ended  August 31,  August 31, (in thousands, except per share data) 2026  2025 % Change  2026  2025 % ChangeOperating income$156,624 $177,321 (11.7)% $699,957 $748,303 (6.5)%Intangible asset amortization 18,875  19,136    76,205  73,036  Restructuring/severance 26,899  576    46,200  259  CEO onboarding costs(1) 4,565  1,675    19,521  1,675  Business disposition, acquisitions and related costs 1,780  2,993    8,255  17,761  India labor codes reform —  —    2,883  —  Asset impairment —  —    887  —  Client bankruptcy charges —  —    750  —  Litigation reserve 650  —    650  —  Sales tax dispute(2) —  —    —  2,398  Adjusted operating income$209,393 $201,701 3.8% $855,308 $843,432 1.4%Operating margin 24.7% 29.7%   28.3% 32.2% Adjusted operating margin(3) 33.0% 33.8%   34.5% 36.3% Net income$121,127 $153,616 (21.1)% $533,481 $597,040 (10.6)%Intangible asset amortization 14,142  16,301    58,762  54,074  Restructuring/severance 20,154  491    35,625  192  CEO onboarding costs(1) 3,420  1,427    15,053  1,240  Impairment within Other assets(4) —  —    12,338  —  Business disposition, acquisitions and related costs 1,334  2,550    6,365  13,150  India labor codes reform —  —    2,223  —  Asset impairment —  —    684  —  Client bankruptcy charges —  —    578  —  Litigation reserve 487  —    501  —  Sales tax dispute(2) —  —    —  1,775  Gain on business divestiture —  (19,795)   —  (17,205) Gain on sale of investments —  —    (5,015) —  Non-operating income from business disposition (136) —    (604) —  Income tax items 359  —    (493) 1,351  Adjusted net income(5)$160,887 $154,590 4.1% $659,498 $651,617 1.2%Net income$121,127 $153,616 (21.1)% $533,481 $597,040 (10.6)%Interest expense 14,398  12,886    54,684  56,324  Income taxes 23,244  35,335    116,235  123,918  Depreciation and amortization expense 47,123  42,718    180,830  157,691  EBITDA$205,892 $244,555 (15.8)% $885,230 $934,973 (5.3)%Non-recurring non-cash expenses(6) 3,320  —    26,177  —  Adjusted EBITDA$209,212 $244,555 (14.5)% $911,407 $934,973 (2.5)%Diluted EPS$3.41 $4.03 (15.4)% $14.57 $15.55 (6.3)%Intangible asset amortization 0.40  0.43    1.60  1.41  Restructuring/severance 0.57  0.01    0.97  0.01  CEO onboarding costs(1) 0.09  0.03    0.41  0.03  Impairment within Other assets(4) —  —    0.34  —  Business disposition, acquisitions and related costs 0.04  0.07    0.18  0.34  India labor codes reform —  —    0.06  —  Asset impairment —  —    0.02  —  Client bankruptcy charges —  —    0.02  —  Litigation reserve 0.01  —    0.01  —  Sales tax dispute(2) —  —    —  0.05  Gain on business divestiture —  (0.52)   —  (0.45) Gain on sale of investments —  —    (0.14) —  Non-operating income from business disposition (0.01) —    (0.02) —  Income tax items 0.01  —    (0.01) 0.04  Adjusted diluted EPS(5)$4.52 $4.05 11.6% $18.01 $16.98 6.1%Weighted average common shares (diluted) 35,572  38,158    36,612  38,385   (1)For fiscal 2026, these costs are related to the recognition, over their respective service periods, of one-time make-whole cash and equity awards issued to our CEO.(2)Related to a resolved matter with the Massachusetts Department of Revenue.(3)Adjusted operating margin is calculated as Adjusted operating income divided by Revenues.(4)Related to the impairment of an equity investment.(5)For purposes of calculating Adjusted net income and Adjusted diluted EPS, all adjustments for the three months ended August 31, 2026 and August 31, 2025, were taxed at an adjusted tax rate of 25.1% and 14.8%, respectively. The twelve months ended August 31, 2026 and August 31, 2025, were taxed at an adjusted tax rate of 22.9% and 26.0%, respectively.(6)Primarily related to the impairment of an equity investment and the recognition, over their respective service periods, of one-time equity awards issued to our CEO.
Business Outlook Reconciliation

(Unaudited) Figures may not foot due to roundingAnnual Fiscal 2027 Guidance(In millions, except per share data) Revenues$2,600 - $2,625Operating income$806 - $840Operating margin31.0% - 32.0%Amortization of intangible assets and other discrete items$85 - $97Adjusted operating income$903 - $925Adjusted operating margin(a)34.75% - 35.25%Diluted earnings per share per common share$17.00 - $17.50Amortization of intangible assets and other discrete items$2.15 - $2.25Adjusted diluted earnings per common share$19.25 - $19.65 (a)   Adjusted operating margin is calculated as Adjusted operating income divided by Revenues.

Free Cash Flow

Cash flows provided by operating activities have been reduced by purchases of property, equipment, leasehold improvements and capitalized internal-use software to report non-GAAP free cash flow.

(Unaudited)Three Months Ended  Twelve Months Ended  August 31,  August 31, (In thousands) 2026  2025 Change  2026  2025 ChangeNet Cash Provided for Operating Activities$204,708 $212,100 (3.5)% $822,200 $726,260 13.2%Less: purchases of property, equipment, leasehold improvements and capitalized internal-use software (27,401) (33,966)(19.3)%  (114,720) (108,806)5.4%Free Cash Flow$177,307 $178,134 (0.5)% $707,480 $617,454 14.6%
Organic ASV

The following table presents the calculation of organic ASV.

(In millions)As of August 31, 2026As reported ASV$2,565.2 Impact from foreign currency movements 3.0 Organic ASV$2,568.2 Organic ASV annual growth rate(a) 7.0% (a)For comparability purposes, in calculating the organic ASV annual growth rate, the prior year excludes ASV from dispositions and discontinued lines of business effected within the last 12 months.

NORWALK, Conn., Sept. 22, 2026 (GLOBE NEWSWIRE) -- FactSet, a leading global intelligence and AI solutions provider to the financial markets, today announced the acquisition of BCC Group International GmbH (bccg), a financial software development firm specializing in cloud-native and hybrid market data distribution platforms. The acquisition marks a milestone in the expansion of FactSet's Real-Time Solution Suite, strengthening its market data management capabilities. Combined with its premium Real-Time Consolidated Data Feeds, it helps firms meet the demands of a rapidly evolving capital markets landscape.

For decades, market data infrastructure operated on the same premise: build or buy a platform, plug in data feeds, and let it operate. Trading is now moving toward 24-hour operations, AI is rewriting rules for workflows, and regulators are raising the bar on cross-vendor governance. Today, firms are building expensive workarounds for systems never designed to be open, modular, or cloud-ready. The hidden costs are becoming impossible to ignore: innovation timelines stretch, talent is redirected to maintenance, and compliance burdens continue to grow.

FactSet’s acquisition of bccg is a direct response to that challenge. Through the acquisition, FactSet brings bccg's ONE Platform solution into its Real-Time Solution Suite, giving clients deployment flexibility without the overhead of monolithic systems. The acquisition strengthens FactSet’s real-time portfolio and represents a fundamental shift in how enterprise market data infrastructure can be designed and operated. Together, FactSet and bccg deliver:

Open Ecosystem with Governed Access: The ability to combine exchange feeds, third-party content, and proprietary data in a single governed environment. Entitlements management, compliance reporting, and cost controls are now centralized rather than siloed.API-First Integration: Interoperable components designed to connect seamlessly to existing workflows. Built for the infrastructure clients have today and workflows they are building for tomorrow.Flexible Deployment: Choose cloud, on-premises, or hybrid models to match your existing infrastructure and evolving requirements. The ONE Platform modular architecture means clients can select and deploy the components they need.Managed Solution: Full-service operations with high availability, key performance indicators (KPIs), and market data management optimization. FactSet and bccg have worked in collaboration together since 2021, solving real client problems and building technical alignment earned through delivery. The acquisition unites FactSet’s 25 years of real-time data investment with bccg's modern distribution architecture. Clients gain a single, accountable partner for both content and infrastructure: one with a proven delivery record and the depth to support what comes next.

"Clients have told us they don't just want another data vendor. They want a deeply invested open technology partner they already trust to manage their data. This acquisition is our response: FactSet’s content expertise, open architecture platform principles, and premier white-glove service, coupled with bccg’s modular, API driven, frictionless data management solution. Combined, our solutions are uniquely positioned to offer clients an alternative to the traditional monolithic offerings of yesterday."– said Brian Herte, Global Head of Market Data & Trading at FactSet.

"We are excited to join forces with a truly global partner with the scale and ambition to drive a paradigm shift in financial market data. By combining bccg's leading cloud-native market data distribution technology with FactSet's comprehensive data and managed services, we can give financial institutions a genuinely source-neutral alternative to today's lock-in. Openness and choice across the data ecosystem sit at the heart of that vision." – said Mauricio Gonzalez Evans, CEO of BCC Group International GmbH.

This is not expected to have a material impact on FactSet’s financial results.

About FactSet

FactSet (NYSE:FDS | NASDAQ:FDS) supercharges financial intelligence, offering enterprise data and information solutions that help our clients maximize their potential. Our digital platform seamlessly integrates proprietary data, third-party sources, and flexible technology to deliver tailored solutions across the buy side, sell side, wealth, and corporate sectors. With over 47 years of expertise, we leverage advanced data connectivity, AI, and next-generation tools to streamline workflows and enable smarter decision-making. As an S&P 500 company serving more than 9,100 global clients and over 247,000 individual users, we are dedicated to innovation and long-term client success. Learn more at www.factset.com and follow us on X and LinkedIn.

About BCC Group International

BCC Group (bccgi.com) is a Germany-based financial technology provider specializing in cloud infrastructure and management solutions for real-time, historical, reference, and all other types of market data.

Founded over 20 years ago, the company delivers vendor-neutral platforms—such as its flagship ONE Platform—that enable banks, trading firms, and financial institutions to ingest, entitle, and distribute financial market data across hybrid, private, and public cloud environments (including AWS, Azure, and Google Cloud). By focusing on open integration, usage-based licensing controls, and cloud data governance, BCC Group helps financial organizations streamline data delivery, reduce data provider lock-in, and control market data infrastructure costs.

FactSet Investor Relations:
Kevin Toomey
+1.212.209.5259
[email protected]

FactSet Media Relations:
Alexandra Shevchenko
[email protected]

NORWALK, Conn., Sept. 14, 2026 (GLOBE NEWSWIRE) -- FactSet (NYSE: FDS | NASDAQ: FDS), a leading global intelligence and AI solutions provider to the financial markets, today announced that it will host an Investor Day on November 10, 2026, in New York City and via live webcast.

Sanoke Viswanathan, Chief Executive Officer, Josh Warren, Chief Financial Officer, and members of FactSet’s executive leadership team expect to discuss the Company’s strategy, product roadmap, and financial outlook, followed by a live question-and-answer session. The event will also showcase demonstrations of FactSet’s comprehensive solutions and broad set of AI-powered products.

FactSet Investor Day 2026 Details

Date:Tuesday, November 10, 2026  Time:9:00 a.m. Eastern Time  Registration:FactSet Investor Day 2026   Registration for Investor Day is required. Presentation materials will be available on FactSet’s Investor Relations website at 8:30 a.m. Eastern Time on November 10, 2026, 30 minutes before the event begins. Following the event, a replay of the video webcast will be available for one year at investor.factset.com.

About FactSet

FactSet (NYSE: FDS | NASDAQ: FDS) supercharges financial intelligence, offering enterprise data and information solutions that help our clients maximize their potential. Our digital platform seamlessly integrates proprietary data, third-party sources, and flexible technology to deliver tailored solutions across the buy side, sell side, wealth, and corporate sectors. With over 47 years of expertise, we leverage advanced data connectivity, AI, and next-generation tools to streamline workflows and enable smarter decision-making. As an S&P 500 company serving more than 9,100 global clients and over 247,000 individual users, we are dedicated to innovation and long-term client success. Learn more at www.factset.com and follow us on X and LinkedIn.

Investor Relations:
Kevin Toomey
+1.212.209.5259
[email protected]

Media Relations:
Alexandra Shevchenko
+44 07518 131115
[email protected]

Shares of FactSet Research Systems Inc. (NYSE:FDS – Get Free Report) have earned an average rating of “Reduce” from the eighteen brokerages that are presently covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $253.00.

A number of research analysts have issued reports on FDS shares. Jefferies Financial Group increased their target price on shares of FactSet Research Systems from $225.00 to $253.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. Barclays boosted their price target on FactSet Research Systems from $210.00 to $216.00 and gave the company an “underweight” rating in a research note on Monday, July 6th. The Goldman Sachs Group downgraded FactSet Research Systems from a “sell” rating to an “underweight” rating in a research report on Thursday, June 18th. Deutsche Bank Aktiengesellschaft raised their price objective on FactSet Research Systems from $275.00 to $280.00 and gave the stock a “hold” rating in a research note on Thursday, July 2nd. Finally, BMO Capital Markets lifted their price objective on FactSet Research Systems from $257.00 to $275.00 and gave the company a “market perform” rating in a report on Thursday, July 2nd.

Read Our Latest Analysis on FDS

Institutional Investors Weigh In On FactSet Research Systems Institutional investors and hedge funds have recently bought and sold shares of the company. Geneos Wealth Management Inc. increased its holdings in FactSet Research Systems by 188.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 98 shares of the business services provider’s stock valued at $45,000 after buying an additional 64 shares during the period. BOKF NA lifted its holdings in shares of FactSet Research Systems by 5,100.0% during the 3rd quarter. BOKF NA now owns 104 shares of the business services provider’s stock worth $30,000 after acquiring an additional 102 shares during the period. Navalign LLC bought a new stake in shares of FactSet Research Systems during the 4th quarter worth approximately $32,000. Litman Gregory Wealth Management LLC acquired a new stake in shares of FactSet Research Systems during the 4th quarter worth approximately $32,000. Finally, MUFG Securities EMEA plc acquired a new stake in shares of FactSet Research Systems during the 2nd quarter worth approximately $50,000. Institutional investors own 91.24% of the company’s stock. FactSet Research Systems Stock Down 0.4% FDS opened at $295.02 on Thursday. The stock has a fifty day moving average of $260.88 and a 200-day moving average of $235.01. The company has a market capitalization of $10.49 billion, a P/E ratio of 19.43, a P/E/G ratio of 1.99 and a beta of 0.70. FactSet Research Systems has a fifty-two week low of $185.00 and a fifty-two week high of $384.33. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.68 and a current ratio of 0.68.

FactSet Research Systems (NYSE:FDS – Get Free Report) last released its quarterly earnings results on Wednesday, July 1st. The business services provider reported $4.53 EPS for the quarter, beating the consensus estimate of $4.44 by $0.09. FactSet Research Systems had a net margin of 23.21% and a return on equity of 30.68%. The business had revenue of $622.92 million for the quarter, compared to the consensus estimate of $617.91 million. During the same period in the prior year, the company posted $4.27 earnings per share. FactSet Research Systems’s revenue was up 6.4% compared to the same quarter last year. FactSet Research Systems has set its FY 2026 guidance at 17.250-17.750 EPS. On average, equities analysts expect that FactSet Research Systems will post 17.76 EPS for the current year.

FactSet Research Systems Announces Dividend The business also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Monday, August 31st will be given a $1.16 dividend. The ex-dividend date is Monday, August 31st. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.6%. FactSet Research Systems’s dividend payout ratio (DPR) is presently 30.57%.

(Get Free Report)

FactSet Research Systems Inc operates as a global provider of integrated financial data and analytics to the investment community. Founded in 1978 and headquartered in Norwalk, Connecticut, the company offers a unified platform that aggregates content from thousands of sources, delivering real-time and historical market data, company fundamentals, estimates, fixed-income information and proprietary analytics to portfolio managers, research analysts, investment bankers and risk officers.

The company’s core products include the FactSet Workstation, an application offering customizable screening, charting, portfolio analysis and news; APIs and data feeds for seamless integration into proprietary systems; and cloud-based solutions for thematic research and quantitative strategies.

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BlackRock Inc. bought a new position in FactSet Research Systems Inc. (NYSE:FDS – Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 2,858,389 shares of the business services provider’s stock, valued at approximately $657,658,000. BlackRock Inc. owned about 8.04% of FactSet Research Systems as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in FDS. BOKF NA grew its position in FactSet Research Systems by 5,100.0% in the third quarter. BOKF NA now owns 104 shares of the business services provider’s stock worth $30,000 after acquiring an additional 102 shares in the last quarter. Navalign LLC purchased a new stake in FactSet Research Systems during the fourth quarter valued at approximately $32,000. Litman Gregory Wealth Management LLC bought a new stake in shares of FactSet Research Systems in the 4th quarter valued at approximately $32,000. Elyxium Wealth LLC bought a new stake in shares of FactSet Research Systems in the 4th quarter valued at approximately $35,000. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of FactSet Research Systems by 188.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 98 shares of the business services provider’s stock worth $45,000 after purchasing an additional 64 shares during the period. 91.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades Several equities analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft boosted their target price on FactSet Research Systems from $275.00 to $280.00 and gave the company a “hold” rating in a research report on Thursday, July 2nd. Barclays raised their price target on FactSet Research Systems from $210.00 to $216.00 and gave the stock an “underweight” rating in a research report on Monday, July 6th. UBS Group reaffirmed a “buy” rating on shares of FactSet Research Systems in a research note on Wednesday, July 22nd. Wells Fargo & Company increased their target price on shares of FactSet Research Systems from $200.00 to $210.00 and gave the company an “underweight” rating in a research note on Thursday, July 2nd. Finally, Jefferies Financial Group raised their target price on shares of FactSet Research Systems from $225.00 to $253.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have assigned a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $253.00.

Read Our Latest Analysis on FDS FactSet Research Systems Stock Down 0.2% Shares of NYSE FDS opened at $299.26 on Monday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.68 and a current ratio of 0.68. The firm has a market capitalization of $10.64 billion, a price-to-earnings ratio of 19.71, a PEG ratio of 2.01 and a beta of 0.70. The stock has a 50 day moving average price of $257.01 and a 200 day moving average price of $233.33. FactSet Research Systems Inc. has a 52-week low of $185.00 and a 52-week high of $386.52.

FactSet Research Systems (NYSE:FDS – Get Free Report) last released its quarterly earnings data on Wednesday, July 1st. The business services provider reported $4.53 EPS for the quarter, topping the consensus estimate of $4.44 by $0.09. The company had revenue of $622.92 million for the quarter, compared to the consensus estimate of $617.91 million. FactSet Research Systems had a return on equity of 30.68% and a net margin of 23.21%.FactSet Research Systems’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period last year, the business posted $4.27 EPS. FactSet Research Systems has set its FY 2026 guidance at 17.250-17.750 EPS. Sell-side analysts expect that FactSet Research Systems Inc. will post 17.76 earnings per share for the current year.

FactSet Research Systems Dividend Announcement The company also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Monday, August 31st will be paid a dividend of $1.16 per share. The ex-dividend date is Monday, August 31st. This represents a $4.64 annualized dividend and a dividend yield of 1.6%. FactSet Research Systems’s dividend payout ratio (DPR) is currently 30.57%.

FactSet Research Systems Company Profile (Free Report)

FactSet Research Systems Inc operates as a global provider of integrated financial data and analytics to the investment community. Founded in 1978 and headquartered in Norwalk, Connecticut, the company offers a unified platform that aggregates content from thousands of sources, delivering real-time and historical market data, company fundamentals, estimates, fixed-income information and proprietary analytics to portfolio managers, research analysts, investment bankers and risk officers.

The company’s core products include the FactSet Workstation, an application offering customizable screening, charting, portfolio analysis and news; APIs and data feeds for seamless integration into proprietary systems; and cloud-based solutions for thematic research and quantitative strategies.

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A month has gone by since the last earnings report for FactSet Research (FDS - Free Report) . Shares have added about 5.2% in that time frame, outperforming the S&P 500.

But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is FactSet due for a pullback? Well, first let's take a quick look at its most recent earnings report in order to get a better handle on the recent catalysts for FactSet Research Systems Inc. before we dive into how investors and analysts have reacted as of late.

FactSet’s Q3 Earnings Beat EstimatesFactSet Research Systems Inc. has reported third-quarter fiscal 2026 adjusted earnings of $4.53 per share, beating the Zacks Consensus Estimate of $4.44 by 2%. The figure increased 6.1% from the year-ago quarter.

Revenues of $622.9 million surpassed the consensus mark of $617.2 million by 0.9% and rose 6.4% year over year. Organic revenues grew 7%, while organic ASV rallied 7.1% to $2.49 billion.

FDS’s Revenue Growth Gains TractionFactSet’s top line benefited from continued demand across institutional buy-side and wealth management clients. Organic revenues were $622.9 million, up from $582.2 million in the prior-year period.

The company’s revenue growth reflected stronger client engagement and expanding enterprise relationships. Management noted that clients continued to choose FactSet for differentiated content, analytics and workflow solutions.

FactSet’s ASV Momentum Remains HealthyAnnual Subscription Value, or ASV, was $2.48 billion as of May 31, 2026, compared with $2.34 billion a year ago. Organic ASV came in at $2.49 billion, increasing $165 million year over year.

Organic ASV increased $35.4 million over the past three months. FactSet’s annual ASV retention remained above 95%, while enterprise renewals in the quarter extended 30% in length on average.

FDS’ Regional Revenues Show Broad GrowthRevenues from the Americas were $407.2 million in the third quarter of fiscal 2026, up 7% on an organic basis from the year-ago quarter. The region remained FactSet’s largest revenue contributor, supported by an ASV base of $1.62 billion.

EMEA revenues were $152 million, with organic revenue growth of 5.3%. The Asia Pacific revenues rose 10.5% organically to $63.7 million, whereas organic ASV growth in the region was 10%, the strongest among FactSet’s reported regions.

FactSet’s Margins Reflect Cost PressureAdjusted operating income was $211.8 million, down 1.7% from the prior-year quarter. The adjusted operating margin contracted to 34% from 36.8% a year earlier.

The margin decline reflected higher compensation and technology-related expenses. The GAAP operating margin was 26.7%, down from 33.2% due to higher employee compensation costs, including one-time charges and CEO compensation costs.

FDS’ Cash Flow & Capital Returns ImproveFactSet generated $284.5 million in net cash from operating activities during the quarter, up 12.1% year over year. The free cash flow increased 11.1% to $254 million.

The company returned $243.4 million to shareholders in the quarter. This included $203.1 million in share repurchases and $40.3 million in dividends. FactSet also raised its quarterly dividend by 6 cents to $1.16 per share, marking its 27th consecutive year of dividend increases.

FactSet Reaffirms FY26 OutlookFDS has reaffirmed its fiscal 2026 guidance. The company continues to expect organic ASV growth of $130-$160 million and GAAP revenues of $2.45-$2.47 billion.

The adjusted operating margin is expected to be 34-35.5%. Adjusted diluted earnings are projected between $17.25 and $17.75 per share.

How Have Estimates Been Moving Since Then?It turns out, estimates review have trended downward during the past month.

VGM ScoresCurrently, FactSet has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with a D. However, the stock was allocated a grade of B on the value side, putting it in the top 40% for value investors.

Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.

OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions looks promising. Notably, FactSet has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

• FactSet Research Systems stock is moving in positive territory. What’s pushing FDS stock higher?

The FactSet Research Systems Analyst: Analyst Ashish Sabadra reiterated a Sector Perform rating and price target of $240.

The FactSet Research Systems Thesis: The company’s third-quarter organic ASV grew $35.4 million sequentially, exceeding consensus of $30 million, with the growth rate accelerating to 7.1% year-over-year, from 6.7% in the previous quarter, Sabadra said in the note.

Check out other analyst stock ratings.

The company delivered strong beats on revenues and earnings, while margins missed estimates, he added.

The company has entered the "early innings: in AI monetization, highlighting that around 10% of its ASV growth in the third quarter came "directly from discrete AI SKUs, compared to almost no contribution from last year," the analyst wrote.

He noted that:

Around 90% of FactSet Research Systems’ top 50 clients are using four or more AI products. These clients are witnessing 50% faster ASV growth than the broader base. Regarding the company’s MCP (Model Context Protocol, which allows AI models and LLMs to directly connect to external tools and data systems) clients, the analyst stated that:

There were around 450 MCP clients under contract or trial at quarter-end, which grew to over 550 post-quarter. About 20 of the top 100 are using MCP on a paid basis. Around 25% of MCP users adopted full Workstation contracts to better leverage the company’s full analytics and technology stack environment. Sabadra further said that management’s 2026 guidance implies fourth-quarter performance of:

Sequential ASV growth of around $50-$80 million Total revenue growth of around 2%-5% year-on-year to $608-$628 million Total adjusted operating margin of 30.7%-36.8% Adjusted earnings of $3.75-$4.25 per share FDS Price Action: Shares of FactSet Research Systems had risen by 1.69% to $249.69 at the time of publication on Thursday.

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FactSet Research (FDS - Free Report) came out with quarterly earnings of $4.53 per share, beating the Zacks Consensus Estimate of $4.44 per share. This compares to earnings of $4.27 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +2.09%. A quarter ago, it was expected that this financial data firm would post earnings of $4.37 per share when it actually produced earnings of $4.46, delivering a surprise of +2.06%.

Over the last four quarters, the company has surpassed consensus EPS estimates three times.

FactSet, which belongs to the Zacks Business - Information Services industry, posted revenues of $622.92 million for the quarter ended May 2026, surpassing the Zacks Consensus Estimate by 0.93%. This compares to year-ago revenues of $585.52 million. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

FactSet shares have lost about 20.7% since the beginning of the year versus the S&P 500's gain of 9.6%.

What's Next for FactSet?While FactSet has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for FactSet was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $4.30 on $626.33 million in revenues for the coming quarter and $17.66 on $2.46 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Business - Information Services is currently in the top 8% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Verisk Analytics (VRSK - Free Report) , another stock in the same industry, has yet to report results for the quarter ended June 2026.

This insurance data provider is expected to post quarterly earnings of $1.95 per share in its upcoming report, which represents a year-over-year change of +3.7%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Verisk Analytics' revenues are expected to be $802.43 million, up 3.9% from the year-ago quarter.

Partnership combines FactSet's trusted data, analytics, and workflows with Google Cloud's agentic AI capabilities and infrastructure

, /PRNewswire/ -- FactSet, a leading global data and AI solutions provider to the financial markets, today announced a multi-faceted strategic partnership with Google Cloud to create a new generation of AI-powered solutions for the financial industry. The collaboration addresses a growing demand from financial firms for workflow-specific agentic solutions that are powered by trusted data and fully sourced, auditable, and defensible in regulated environments. The partnership supports FactSet's broader AI vision by delivering agentic experiences across the investment and deal-making lifecycles.

The partnership is focused on three areas:

FactSet AI enhanced with Gemini models: FactSet is embedding Google's enterprise Search and Gemini model capabilities in its Workstation via Gemini Enterprise Agent Platform to launch the next generation of agents for finance. The partnership will accelerate the development of new Workstation products with deep research functionality and multi-modal experiences, leveraging Google Cloud's broad range of AI capabilities. Direct integration with Google grounding will supplement FactSet's financial data and improve both the breadth and depth of FactSet's AI-enhanced insights. Deeper financial intelligence in Gemini Enterprise: Building on the previously announced collaboration with Google DeepMind, FactSet's MCP and agent sharing functionality will deepen the financial intelligence in Gemini Enterprise – Google Cloud's AI platform for building, governing, and deploying agents. Through this integration, financial professionals will benefit from seamless interoperability between the FactSet Workstation and Gemini Enterprise. Jointly developed agentic workflows: FactSet and Google Cloud plan to launch a new generation of agents – to be built using the Gemini Enterprise Agent Platform – that are designed to improve efficiency, execution, and decision-making across portfolio operations, deal advisory, and corporate finance. FactSet will also add Google Cloud to its existing portfolio of cloud providers, enabling FactSet to further enhance its infrastructure capabilities and deliver greater reliability, scalability, and innovation to clients.

"AI is fundamentally shifting how financial professionals access data, derive insights, and make decisions," said Sanoke Viswanathan, chief executive officer of FactSet. "Together with Google Cloud, we are putting trusted financial data and advanced AI capabilities to work, empowering our clients with more intuitive, connected, and intelligent agents."

"Financial institutions require AI tools that anchor advanced technology in reliable, industry-specific intelligence," said Karthik Narain, chief product and business officer of Google Cloud. "By combining Google Cloud's agentic AI capabilities with FactSet's deep financial expertise, we are enabling investment professionals to surface insights faster, automate complex workflows, and realize commercial value from AI."

About FactSet
FactSet (NYSE: FDS) (NASDAQ: FDS) supercharges financial intelligence, offering enterprise data and information solutions that power our clients to maximize their potential. Our cutting-edge digital platform seamlessly integrates proprietary financial data, client datasets, third-party sources, and flexible technology to deliver tailored solutions across the buy-side, sell-side, wealth management, private equity, and corporate sectors. With over 47 years of expertise, offices in 19 countries, and extensive multi-asset class coverage, we leverage advanced data connectivity alongside AI and next-generation tools to streamline workflows, drive productivity, and enable smarter, faster decision-making. Serving more than 9,000 global clients and over 241,000 individual users, FactSet is a member of the S&P 500 dedicated to innovation and long-term client success. Learn more at www.factset.com and follow us on X and LinkedIn.

SOURCE Google Cloud

FactSet Research Systems Inc. (NYSE:FDS) will release its third quarter earnings report after the closing bell on Wednesday, July 1.

Analysts expect the Norwalk, Connecticut-based company to report quarterly earnings of $4.45 per share, up from $4.27 per share in the year-ago period. The consensus estimate for FactSet Research’s quarterly revenue is $617.59 million. It reported $585.52 million last year, according to Benzinga Pro.

On May 5, FactSet raised its quarterly dividend from $1.10 per share to $1.16 per share.

FactSet Research shares fell 0.2% to close at $218.15 on Tuesday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

Considering buying FDS stock? Here’s what analysts think:

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