Factset Research Systems Inc

Technology
Computer Software: Programming, Data Processing
www.factset.com

Earnings Score
Moat Score
Safety Score
Final Score

Market Cap $18.12B
PE 34
Debt $1.50B
Cash $422.98M
EV $19.20B
FCF $614.66M

Earnings

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Sales & Net Margins

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Earnings	$537.13M
EBIT	$701.30M
ROE	28%
ROA	17%
FCF	$614.66M
Equity	$1.91B
Growth Stability	96%
PE	33.74
PEG	4.09
PB	9.48
P/FCF	29.49
P/S	8.23
Price/Cash	0.02
Debt/Equity	0.78
Debt/FCF	2.44
Net Margins	24%
Gross Margins	54%
Op. Margins	32%
Earnings CAGR	8%
Sales Growth YoY	5%
Sales Growth QoQ	2%
Sales CAGR	9%
FCF CAGR	11%
Equity CAGR	17%
Earnings Stability	0.78
Earnings Growth YoY	37%
Earnings Growth QoQ	-43%
Earnings CAGR 5Y	8%

Sales CAGR 5Y	11%
FCF CAGR 5Y	11%
Equity CAGR 5Y	24%
Earnings CAGR 3Y	12%
Sales CAGR 3Y	12%
FCF CAGR 3Y	12%
Equity CAGR 3Y	22%
Market Cap	$18.12B
Revenue	$2.20B
Dividend Yield	1%
Payout Ratio	28%
Assets	$4.06B
Total Debt	$1.50B
Cash	$422.98M
Shares Outstanding	37.95M
EV	19.2B
Earnings Score	90%
Moat Score	96%
Safety Score	91%
Final Score	92%
Working Capital	168.78M
Current Ratio	1.25
Gross Profit	$1.19B
Shares Growth 3y	0%
Equity Growth QoQ	1%
Equity Growth YoY	18%

Assets & ROA

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Stockholders Equity & ROE

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FactSet provides financial data and portfolio analytics to the global investment community. The company aggregates data from third-party data suppliers, news sources, exchanges, brokerages, and contributors into its workstations. In addition, it provides essential portfolio analytics that companies use to monitor portfolios and address reporting requirements. Buy-side clients account for 84% of FactSet's annual subscription value. In 2015, the company acquired Portware, a provider of trade execution software and in 2017 the company acquired BISAM, a risk management and performance measurement provider.

SEC Filings

Direct access to Factset Research Systems Inc (FDS) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-K Aug 31
- 10-Q May 31
- 10-Q Feb 29
2023
- 10-Q Nov 30
- 10-K Aug 31
- 10-Q May 31
- 10-Q Feb 28
2022
- 10-Q Nov 30
- 10-K Aug 31
- 10-Q May 31
- 10-Q Feb 28

Sector Comparison

How does Factset Research Systems Inc compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Factset Research Systems Inc compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 8%

Stability 78%

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Factset Research Systems Inc Discounted Cash Flow

Fully customizable DCF calculator online for Factset Research Systems Inc.

Years

Calculation mode

= $13B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$615M	$684M	$762M	$848M	$944M	$1.1B	$1.2B	$1.3B	$1.4B	$1.6B	$1.8B	$18B
DCF		$622M	$629M	$637M	$645M	$652M	$660M	$668M	$676M	$684M	$692M	$6.9B
Value	$13B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	08/2015	08/2016	08/2017	08/2018	08/2019	08/2020	08/2021	08/2022	08/2023	08/2024	TTM
Net Margins	24%	30%	21%	20%	25%	25%	25%	22%	22%	24%	24%
ROA	-	45%	25%	26%	28%	21%	21%	12%	16%	17%	17%
ROE	-	65%	46%	51%	52%	42%	39%	30%	29%	28%	28%

Good Net Margins (24.38%)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	08/2015	08/2016	08/2017	08/2018	08/2019	08/2020	08/2021	08/2022	08/2023	08/2024	TTM
Debt over FCF	-	1.06	2.03	1.63	1.56	1.34	1.16	4.11	2.78	2.44	2.44
Debt over Equity	0.07	0.58	1.03	1.09	0.85	0.64	0.57	1.5	1	0.78	0.78
Growth Stability	-	-	-	96%	100%	100%	100%	100%	100%	100%	96%

Neutral Debt/FCF ratio (2.44)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Good Debt/Equity ratio (0.78)

The company is not overleveraged and has a good balance between equity and debt.

Good Graham’s Stability (96%)

The company has a good stability in its earnings, which is a sign of a good competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	08/2015	08/2016	08/2017	08/2018	08/2019	08/2020	08/2021	08/2022	08/2023	08/2024	CAGR 5Y
Revenue YoY growth	-	12%	8%	11%	6%	4%	7%	16%	13%	6%	11%
Earnings YoY growth	-	41%	-24%	3%	32%	6%	7%	-1%	18%	15%	8%
Equity YoY growth	-	-3%	8%	-6%	28%	33%	13%	31%	22%	18%	24%
FCF YoY growth	-	1%	0%	24%	4%	16%	15%	-1%	20%	5%	11%