You might also like
FactSet Research Systems Inc. is a global financial digital platform and enterprise solutions provider that offers expansive data, sophisticated analytics, and flexible technology to power critical investment workflows for financial professionals. The company's primary revenue source is subscriptions to its multi-asset class data and solutions, which are delivered through its connected data and technology platform . FactSet operates through three reportable segments: the Americas, EMEA, and Asia Pacific, with solutions spanning the investment lifecycle, including investment research, portfolio construction and analysis, trade execution, performance measurement, risk management, and reporting . The company's business strategy focuses on building a leading open content and analytics platform, offering personalized digital products, and delivering insights tailored to clients' specific business models .
- Workstations - Provides financial professionals with integrated tools for investment research, portfolio management, and trade execution.
- Portfolio Analytics - Offers solutions for performance measurement, risk management, and portfolio analysis to optimize investment strategies.
- Enterprise Data Solutions - Delivers comprehensive data services that support data integration, management, and analysis across various financial workflows.
- Managed Services - Supports data, performance, risk, and reporting workflows with tailored services to enhance operational efficiency.
- Americas Segment - Generates significant revenue by delivering FactSet's products and services across the American markets.
- EMEA Segment - Contributes to revenue through the provision of FactSet's offerings in Europe, the Middle East, and Africa.
- Asia Pacific Segment - Expands FactSet's reach and revenue in the Asia Pacific region by offering its comprehensive suite of financial solutions.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Catrina Harding Executive | EVP, Chief People Officer | None | Joined FactSet in 2023, previously held senior HR roles at Gerson Lehrman Group and Synchrony Financial. Oversees HR strategy, talent acquisition, and employee engagement. | View Report → |
Christopher McLoughlin Executive | EVP, Chief Legal Officer | None | Oversees FactSet's legal and compliance functions. No additional details provided in the documents. | View Report → |
Christopher R. Ellis Executive | EVP, Head of Strategic Initiatives | None | Joined FactSet in 1994, previously led business development and acquisitions. Focuses on initiatives for asset managers and asset owners. | View Report → |
F. Philip Snow Executive | Chief Executive Officer | None | CEO since 2015, joined FactSet in 1996, previously held roles including President and SVP of U.S. Investment Management Sales. Earned a CFA designation. | View Report → |
Goran Skoko Executive | EVP, Chief Revenue Officer, MD EMEA & APAC | None | Joined FactSet in 2004, previously EVP of Dealmakers & Wealth. Leads global sales, client solutions, marketing, and media relations. | View Report → |
Helen L. Shan Executive | Chief Financial Officer | Board Member at EPAM Systems, Inc. | CFO since 2018, reappointed in 2024 after serving as Chief Revenue Officer. Extensive experience in financial leadership roles. | View Report → |
John Costigan Executive | EVP, Chief Data Officer | None | Joined FactSet in 2007, previously Chief Content Officer. Leads enterprise-wide data strategy, including AI initiatives and data transformation. | View Report → |
Katherine M. Stepp Executive | EVP, Chief Technology Officer | None | Joined FactSet in 2008, previously Senior Director of Product Management and Engineering. Leads FactSet's technology organization and digital transformation strategy. | View Report → |
Kristina W. Karnovsky Executive | EVP, Head of Dealmakers and Wealth | None | Joined FactSet in 2001, previously Chief Product Officer. Focuses on expanding deployment and building community in Dealmakers and Wealth. | View Report → |
Robert J. Robie Executive | EVP, Head of Institutional Buyside | None | Joined FactSet in 2000, previously EVP of Analytics & Trading Solutions. Oversees strategy and development for Institutional Buyside solutions. | View Report → |
Barak Eilam Board | Director | Board Member at HMH and SimilarWeb Ltd. | Director since 2024. Former CEO of NICE Ltd., where he led significant growth in revenue and cloud transformation. | |
Elisha Wiesel Board | Director | Founding Partner and CRO of ClearAlpha Technologies; Chair of Entrio; Chair of the Elie Wiesel Foundation | Director since 2023. Former CIO and Chief Risk Officer at Goldman Sachs. Expertise in risk management and technology. | |
James J. McGonigle Board | Lead Independent Director | Advisor at Summit Partners and Equality Asset Management | Director since 2002. Former Chairman and CEO of The Corporate Executive Board Company. Expertise in corporate governance and business services. | |
Laurie G. Hylton Board | Director | Board Member at Sun Life Financial Inc., Newbury Art Association, and Theater in the Open | Director since 2024. Former CFO and CAO at Eaton Vance Corp. Extensive experience in asset management and public accounting. | |
Laurie Siegel Board | Director | President of LAS Advisory Services; Board Member at Lumen Technologies and CECO Environmental Corp. | Director since 2015. Former SVP of HR at Tyco International. Expertise in human resources and executive compensation. | |
Lee Shavel Board | Director | President and CEO of Verisk Analytics, Inc.; Board Member at Verisk | Director since 2020. Extensive experience in financial services and analytics. | |
Malcolm Frank Board | Director | CEO of TalentGenius; Board Member at Fingerpaint Marketing | Director since 2016. Former Chief Strategy Officer at Cognizant. Co-author of books on digital transformation and innovation. | |
Maria Teresa Tejada Board | Director | Board Member at Pacific Mutual Holding Company; Trustee at Cleveland Museum of Natural History | Director since 2022. Former Chief Strategic Enterprise Risk Officer at Wells Fargo. Expertise in risk management and governance. | |
Robin A. Abrams Board | Chair of the Board of Directors | Board Member at HCL Technologies Ltd. and Lattice Semiconductor Corporation | Director since 2011, Chair since 2020. Former CEO of Palm Computing and Verifone. Extensive experience in technology and leadership. | |
Siew Kai Choy Board | Director | Advisor to companies in Banking, Fintech, Regtech, and DeepTech sectors | Director since 2020. Former Managing Director at GIC Private Limited, with expertise in investment management, data analytics, and governance. |
- Your guidance indicates a more optimistic outlook for the second half of fiscal 2025, similar to last year's expectations; what specific factors give you more confidence this year compared to last year, beyond macroeconomic assumptions like Fed rate cuts?
- With the guidance for margins to be down sequentially, is there a strategic shift happening where you are pivoting from focusing on margin expansion to prioritizing growth, and could you elaborate on this change?
- Given the headwinds in your annual price increases due to lower CPI or RPI, how do you plan to mitigate the impact of potentially lower pricing on your revenue growth in fiscal 2025?
- Can you provide more clarity on the performance of CUSIP and how it is contributing to your overall growth, especially since it drove growth in the partnerships business but specific figures were not disclosed?
- Considering the competitive environment and observations of aggressive pricing by competitors, how are you balancing the need to win market share with the potential impact on margins, and what is your approach to pricing in this context?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
Bloomberg L.P. | The company is one of the largest competitors in the financial information services industry, providing expansive data, sophisticated analytics, and flexible technology similar to the company's offerings. |
S&P's Market Intelligence division | This division is a major competitor, offering products and services that are similar to the company's offerings in the financial information services industry. |
London Stock Exchange Group's Data & Analytics division | Formerly known as Refinitiv, this division is a significant competitor in the financial information services industry, providing similar products and services. |
BlackRock Aladdin | This is one of the competitive products in the market, providing services similar to the company's offerings. |
This company is a competitor, offering products or services similar to the company's offerings in the financial information services industry. | |
This company is a competitor, providing products or services similar to the company's offerings in the financial information services industry. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
LiquidityBook | 2025 | FactSet acquired LiquidityBook on February 7, 2025, for a gross purchase price of $246.5 million in cash funded through borrowings, adding cloud-native trading solutions and a proprietary FIX network that enhances its OMS and pre-trade compliance capabilities within the FactSet Workstation. |
CUSIP Global Services | 2022 | FactSet completed the acquisition of CGS on March 1, 2022, for a cash purchase price of $1.932 billion, financed via Senior Notes and borrowings, to secure its exclusive role as the global issuer of CUSIP identifiers and expand its presence in the global capital markets. |
Cobalt Software, Inc. | 2021 | FactSet acquired Cobalt on October 12, 2021, for approximately $51.0 million (subject to post-closing adjustments) to enhance its private market offerings and data workflow solutions by integrating portfolio monitoring capabilities. |
Recent press releases and 8-K filings for FDS.
- On April 8, 2025, FactSet Research Systems Inc. entered into a new credit agreement with a $500,000,000 Term Facility (maturing April 8, 2028) and a $1,000,000,000 Revolving Facility (maturing April 8, 2030), including provisions for letters of credit and swingline loans.
- The company repaid all outstanding obligations under its 2022 Credit Agreement, effectively terminating the previous agreement as part of the refinancing efforts.
- Organic ASV increased 4.1% YoY with an adjusted operating margin of 37.3% and adjusted diluted EPS of $4.28, underlining robust performance despite a challenging market environment.
- The company secured a strategic UBS Vault deal booked in Q2, with implementation starting in Q3, reinforcing its leadership in wealth and banking solutions.
- Revised fiscal 2025 guidance now focuses on a 5% midpoint for organic ASV growth, supported by a strong sales pipeline and proactive renewal strategies.
- Q2 2025 results highlighted a 4.1% organic ASV growth, an adjusted operating margin of 37.3%, and an adjusted diluted EPS of $4.28, reflecting modest improvements from the previous quarter.
- The company reported strong operational metrics with ASV retention over 95%, client retention at 91%, and a user count of 219,141, underscoring robust recurring business performance.
- FactSet reaffirmed its forward guidance for fiscal 2025 by narrowing the organic ASV growth range to $100–$130 million and emphasizing a continued commitment to returning capital through dividends and share repurchases.
- Revenue and EPS Growth: GAAP revenues reached $570.7 million (up 4.5% YoY) and GAAP diluted EPS increased to $3.76 (up 3.0%), with adjusted diluted EPS of $4.28 (up 1.4%), reflecting solid operational performance.
- Organic ASV and Fiscal Guidance Update: Organic ASV grew to $2,276.2 million (up 4.1% YoY) and the updated fiscal 2025 guidance now anticipates organic ASV growth of $100–$130 million, revenues between $2,305–$2,325 million, adjusted operating margins of 36%–37%, and adjusted diluted EPS in the range of $16.80–$17.40.
- Strategic Initiatives and Capital Allocation: The company advanced its strategic portfolio with acquisitions—adding LiquidityBook and LogoIntern to enhance technology offerings—and executed a share repurchase of 136,714 shares for $64.4 million, alongside paying a quarterly dividend of $39.5 million.