Factset Research Systems Inc (FDS)
Financials · Financial Exchanges & Data · US stock · S&P 500 component
$335.45
▲ +15.54 (4.86%)
Fair valueUndervalued
$412 +22.8% to fair value
$206fair band $351–$500$618
Day's range
$318.66 – $339.83
52-week range
$185.00 – $339.83
About Factset Research Systems Inc
FactSet provides financial data, analytics and software to investment professionals. Its subscription platform combines market data, company information, portfolio tools and research workflows used by asset managers, banks, wealth advisors and corporate clients. Revenue comes mostly from recurring subscription contracts that renew on a regular basis, so results depend on the number of users, the products they take up and the clients' retention.
The company reported revenue of $2.4 billion for the last twelve months. Revenue growth over three years averaged 8.0% a year. Operating margin is 29.6% and return on invested capital is 18%. Net debt to EBITDA is 1.4 times. It pays a dividend with a yield of 1.3%. The X-Ray Score is 58 out of 100. These figures describe past results as reported and are a factual snapshot, not a forecast. Some measures, such as margins for real estate trusts and banks, are defined differently from those of industrial firms, so comparisons should be made with care.
Price chart
52-wk range $185.00 – $339.83Volume 838,548Daily, split-adjusted
Vitals
Market cap$12.1B
52-week range$185.00 – $339.83
Volume (last day)838,548
P/E (TTM)22.1
EBIT / EV yield5.4%
Free-cash-flow yield5.8%
Dividend yield1.3%
Revenue (TTM)$2.4B
Net income (TTM)$566M
Operating margin29.6%
Return on capital17.8%
Debt incl. leases$1.6B
Cash & securities$304M
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$412middle half of models $363 – $446
Undervalued
+22.8% to fair value
Average of the 15 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is Medium, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.
Price $335
Undervalued < $351Fair $351 – $500Overvalued > $500
P/E multiple
$369
P/B multiple
$449
P/S multiple
$448
EV/EBITDA multiple
$431
EV/EBIT multiple
$449
EV/revenue multiple
$425
10-year DCF, EBITDA exit
$444
5-year DCF, EBITDA exit
$435
10-year DCF, revenue exit
$442
5-year DCF, revenue exit
$432
10-year DCF, growth exit
$340
5-year DCF, growth exit
$314
Dividend discount, stable
$274
Dividend discount, multi-stage
$573
Earnings power value
$357
Growth the price implies
3.4%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.
What this means
Average business at a low price
Our models put fair value above today's price, but models can be wrong, so check the business first. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Financials peers. Open a lens to see the numbers behind it.
Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data
Valuation
Fair
60/100
Priced about in line with its sector.
See the numbers →
EBIT / EV yield5.4%
Free-cash-flow yield5.8%
Fair value vs price1.2×
Growth
Fair
51/100
Growing at a typical pace for its sector.
See the numbers →
Revenue growth (3y)8.0%
EPS growth (3y)14.9%
Growth consistency100%
Profitability
Strong
71/100
Earns high returns on the capital it uses.
See the numbers →
Return on invested capital17.8%
Operating margin29.6%
Gross profitability29.9%
Financial health
Weak
46/100
Balance sheet is more stretched than most peers.
See the numbers →
Piotroski F-Score7 / 9
Net debt / EBITDA1.4×
Interest cover13.6×
Dividends
Fair
55/100
Dividend is typical for its sector.
See the numbers →
Dividend yield1.3%
Dividends vs free cash flow23%
Dividend growth8.3%
Quarterly results: last 6 quarters
+4.5%
Feb '25
+5.9%
May '25
+6.2%
Aug '25
+6.9%
Nov '25
+7.1%
Feb '26
+6.4%
May '26
Revenue against the same quarter a year earlier. Latest quarter revenue $623M, diluted EPS $3.50.
Compare with peers
MCO Moodys Corp61 MSCI MSCI Inc.58 CBOE Cboe Global Markets, I...58 ICE Intercontinental Excha...52Other Financial Exchanges & Data companies by X-Ray Score.
SWOT analysis: Factset Research Systems Inc
Strengthsinside the company
- Return on invested capital is 17.8%, against a median of 13.0% for industry peers.
- Earnings per share have compounded at 14.9% a year over three years.
- Free cash flow equals 5.8% of the market value, which funds dividends, buybacks or debt paydown.
- Operating profit covers interest 14x, so debt costs are a small drag.
Weaknessesinside the company
- No clear weakness in the figures we track.
Opportunitiesvaluation and setting
- Dividends use only 23% of free cash flow, which leaves room to raise them.
- Trades at 21.5x earnings, 24% below the 28.2x median of industry peers.
- The price is 23% below our fair value estimate, with the gap larger than the margin we allow for error.
- Our Market Compass rates the backdrop for Financials as favourable.
Threatsvaluation and setting
- No specific threat is flagged by our checks; general market and interest-rate risk still applies.
Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.
Compare FDS with peers and sector
Medians of 8 Financial Exchanges & Data peers and of 70 Financials stocks in our universe.
Largest peers (X-Ray Score): SPGI 48, CME 42, ICE 52, MCO 61, NDAQ 44, MSCI 58.
| Metric | FDS | Peers | Sector |
|---|---|---|---|
| X-Ray Score (out of 100) | 58 | 50 | 50 |
| Valuation | 60 | 25 | 52 |
| Growth | 51 | 64 | 54 |
| Profitability | 71 | 59 | 48 |
| Financial health | 46 | 49 | 51 |
| Dividends | 55 | 54 | 54 |
Sector leaders: highest X-Ray Score in Financials
FDS ranks #20 of 71 in Financials and #4 of 9 in Financial Exchanges & Data by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.
Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.
Factor ratings for FDS
Each factor is rated by where FDS stands among the 71 Financials stocks in our universe.
Rating against the sector
Goodthe top third of these stocks
Averagethe middle third of these stocks
Badthe bottom third of these stocks
"Beats" is the share of those stocks it is ahead of.
Against its own history
The last columns set today's figure against the company's own median of its last five financial years:
▲ Betterbetter than its usual level
▼ Worseworse than its usual level
≈ In linewithin its usual range
For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.
In total: 3 Good · 13 Average · 6 Bad of 22
Growth: 0 · 2 · 1
Profitability: 1 · 4 · 0
Financial strength: 0 · 2 · 2
Valuation: 0 · 2 · 3
Cash flow: 1 · 3 · 0
Efficiency: 1 · 0 · 0
| Factor | FDS | Rating | Sector median | Own 5-year median | Against own history |
|---|---|---|---|---|---|
| Growth | |||||
| Revenue growth, 3 years a year | +8.0% | Average beats 48% | +8.3% | – | – |
| Revenue growth, last year | +5.4% | Bad beats 31% | +6.9% | +6.5% | ≈ In line |
| EPS growth, 3 years a year | +14.9% | Average beats 60% | +12.7% | – | – |
| Profitability | |||||
| Gross margin | 51.4% | Average beats 56% | 47.1% | 52.8% | ≈ In line |
| Operating margin | 29.6% | Average beats 53% | 29.1% | 30.2% | ≈ In line |
| Net margin | 23.2% | Average beats 58% | 21.8% | 24.4% | ≈ In line |
| Return on invested capital | 17.8% | Average beats 63% | 13.5% | – | – |
| Return on equity | 27.8% | Good beats 84% | 15.7% | 28.9% | ≈ In line |
| Financial strength | |||||
| Net debt / EBITDA | 1.4x | Average beats 43% | 1.1x | 1.1x | ≈ In line |
| Interest cover | 13.6x | Bad beats 33% | 50.0x | 13.3x | ≈ In line |
| Current ratio | 0.68 | Bad beats 11% | 1.05 | 1.59 | ▼ Worse |
| Piotroski F-score | 7 / 9 | Average beats 55% | 7 / 9 | – | – |
| Valuation | |||||
| P/E ratio | 21.5x | Bad beats 27% | 13.8x | 36.3x | ▲ Better |
| Price / book | 6.0x | Bad beats 16% | 2.2x | 10.5x | ▲ Better |
| Price / sales | 5.0x | Bad beats 32% | 3.1x | 8.1x | ▲ Better |
| EV / EBITDA | 14.9x | Average beats 36% | 10.8x | 24.7x | ▲ Better |
| Free cash flow yield | 5.8% | Average beats 51% | 5.8% | 3.4% | ▲ Better |
| Cash flow | |||||
| Free cash flow margin | 29.0% | Average beats 65% | 23.2% | 27.9% | ≈ In line |
| Cash from operations / net income | 1.47 | Average beats 66% | 1.25 | 1.36 | ≈ In line |
| Free cash flow growth, 3 years a year | +8.2% | Average beats 38% | +12.7% | – | – |
| Accruals (lower is better) | −6.3% | Good beats 94% | −1.0% | – | – |
| Efficiency | |||||
| Days sales outstanding | 43 days | Good beats 71% | 53 days | 40 days | ≈ In line |
These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.
Fundamentals checklist
● 5 Good · ● 8 Average · ● 3 BadCash quality
Earnings backed by cashGood
Free-cash-flow yieldAverage
Risk models
Altman Z''Good
Piotroski F-ScoreAverage
Growth
EPS growth (3y)Average
Free-cash-flow growth (3y)Average
Revenue growth (3y)Average
Growth consistencyGood
Balance sheet
Current ratioBad
Net debt / EBITDAAverage
Interest coverBad
Valuation
Fair value vs priceGood
EBIT / EV yieldBad
Profitability
Return on invested capitalAverage
Operating marginAverage
Gross profitabilityGood
Each check is graded against the company's sector, not a fixed number. Checklist score 56/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $1.6B | $1.8B | $2.1B | $2.2B | $2.3B |
| Operating income | $474M | $475M | $629M | $701M | $748M |
| Net income | $400M | $397M | $468M | $537M | $597M |
| Operating cash flow | $555M | $538M | $646M | $700M | $726M |
| Operating margin | 29.8% | 25.8% | 30.2% | 31.8% | 32.2% |
| Free cash flow | $494M | $487M | $585M | $615M | $617M |
| Diluted EPS | $10.36 | $10.25 | $12.04 | $13.91 | $15.55 |
Fiscal years, from SEC filings.
Technical summary
Daily
Bullish
12 bullish · 0 neutral · 4 bearish
Weekly
Strongly bullish
10 bullish · 1 neutral · 1 bearish
Monthly
Bullish
5 bullish · 1 neutral · 2 bearish
Moving averages (daily)
| SMA 10 | 303.1 | Bullish |
| EMA 10 | 306.4 | Bullish |
| SMA 20 | 287.6 | Bullish |
| EMA 20 | 295.9 | Bullish |
| SMA 50 | 288.3 | Bullish |
| EMA 50 | 285.0 | Bullish |
| SMA 100 | 269.5 | Bullish |
| EMA 100 | 273.4 | Bullish |
| SMA 200 | 248.0 | Bullish |
| EMA 200 | 272.2 | Bullish |
Oscillators (daily)
| RSI (14) | 76.04 | Bearish |
| MACD (12, 26) | 10.58 | Bullish |
| Momentum (12) | 23.32 | Bullish |
| Stochastic %K (14) | 94.29 | Bearish |
| Williams %R (14) | -5.71 | Bearish |
| CCI (20) | 193.4 | Bearish |
Pivot points (classic, last session)
S3 301.6 | S2 310.1 | S1 322.8 | Pivot 331.3 | R1 344.0 | R2 352.5 | R3 365.1 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
4.52 USD
Yield on today's price
1.35%
Frequency
Quarterly
Next ex-dividend date
Not announced
| Ex-dividend date | Amount per share |
|---|---|
| 1.1600 | |
| 1.1600 | |
| 1.1000 | |
| 1.1000 | |
| 1.1000 | |
| 1.1000 | |
| 1.0400 | |
| 1.0400 | |
| 1.0400 | |
| 1.0400 | |
| 0.9800 | |
| 0.9800 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
ETFs that hold FDS
| ETF | Share of the fund |
|---|---|
| NOBL ProShares S&P 500 Dividend Aristocrats | 1.50% |
| KNG FT Cboe Vest S&P 500 Dividend Aristocr... | 1.47% |
| SDY SPDR S&P Dividend | 0.37% |
| WTV WisdomTree U.S. Quality Shareholder Yi... | 0.27% |
| ESML iShares ESG Aware MSCI USA Small-Cap | 0.27% |
| VBK Vanguard Small-Cap Growth | 0.24% |
| RSP Invesco S&P 500 Equal Weight | 0.20% |
| FNDA Schwab Fundamental U.S. Small Company... | 0.18% |
The eight funds with the largest weight in FDS among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.
FDS stock splits
FDS has split its stock 3 times since 1999. The latest was a 3-for-2 split on 7 Feb 2005.
Full FDS stock split history →FDS SEC filings
10-KSEC EDGAR
Annual report
8-KSEC EDGAR
Results of operations
8-KSEC EDGAR
Director or officer change
8-KSEC EDGAR
Entered a material agreement
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
8-KSEC EDGAR
Director or officer change
10-QSEC EDGAR
Quarterly report
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.