FactSet Research Systems Inc.FDS
NYSE•Financial Services•Financial Data & Stock Exchanges
FactSet Research Systems Inc., together with its subsidiaries, operates as a financial digital platform and enterprise solutions provider for the investment community. It offers data, products, and analytical applications; and workstations, portfolio analytics, and enterprise data solutions, as well as managed services for supporting data, performance, risk, and reporting workflows. The company also provides subscription-based financial data and market intelligence on securities, companies, industries, and people that enable clients to research investment ideas, as well as analyze, monitor, and manage portfolios; and solutions covering investment lifecycle of investment research, portfolio construction and analysis, trade execution, performance measurement, risk management, and reporting. In addition, it offers services through configurable desktop and mobile platform, data feeds, cloud-based digital solutions, and application programming interfaces. It operates in Europe, the Middle East, Africa, the Americas, the Asia Pacific, and internationally. The company serves investment professionals, including institutional asset managers, bankers, wealth managers, asset owners, partners, hedge funds, corporate users, and private equity and venture capital professionals. FactSet Research Systems Inc. was founded in 1978 and is headquartered in Norwalk, Connecticut.
FactSet Research Systems Inc. (FDS) reported trailing twelve months revenue of $2.40B as of February 2026, a 6.5% increase year-over-year. Quarterly revenue reached $611.02M, reflecting continued top-line momentum.
FactSet Research Systems Inc. generated $587.79M in TTM net income, with quarterly EBITDA of $228.65M. The operating margin contracted from 32.5% to 30.3%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (30.3%) and net margin (21.8%) indicates moderate non-operating costs. Net margin has narrowed from 25.4% a year ago, reflecting increased costs or interest expense.
FDS trades at a P/E of 13.6x (below the broader market average) and a P/S of 3.3x. The price-to-book ratio of 3.8x reflects a moderate premium to book value.
The company generated $185.69M in free cash flow over the trailing twelve months, a 23.6% increase year-over-year, indicating cash generation ability. The balance sheet shows $4.22B in total assets with $1.37B in long-term debt against $2.13B in stockholders equity for a debt-to-equity ratio of 0.6. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are stable at ~31.3%, suggesting durable pricing power and cost discipline.
Consistently high ROE averaging 27.0% suggests a durable competitive advantage and efficient capital allocation.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
TTM revenue has grown consistently (7 of 7 quarters up), with ~10.3% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~31.2% — no sign of cost or pricing stress.
FCF covers net income by 1.1x on average — earnings are well-supported by cash generation.
D/E ratio is 0.6 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares decreased 3.1% — net buybacks are reducing shares outstanding and boosting per-share value.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation