At a glance
FactSet Research Systems, Inc. is worth $12.12B, about 24 times its fiscal 2026 earnings. Revenue grew 6.7% to $2.48B in fiscal 2026, with 21.5% kept as profit; over 5 years it has grown 9.2% a year. It pays a 1.31% dividend yield, raised every year for at least 9 years, and returned $2.11B to shareholders in dividends and buybacks over FY2022–FY2026. The stock returned +31.1% over the past year with dividends reinvested and −3.6% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 33.6% in the 2020 crash (S&P 500: 33.7%) and 26.4% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 2 months and 6 months after the lows.
The business in plain English
FactSet Research Systems sells financial data, analysis software and AI tools to finance professionals. Its customers include asset managers, investment bankers, wealth managers, hedge funds, private equity firms and corporations. As of August 31, 2026, it had 9,258 clients paying at least $10,000 a year and 260,671 professionals using its products to research companies, manage portfolios, measure risk and performance, and prepare presentations and client reports.
Most revenue comes from subscriptions. Clients pay over a contract term for access to products such as the FactSet workstation (desktop software), portfolio analytics, data feeds and APIs (links that send data straight into clients' own systems) and AI agents that handle routine tasks. FactSet also offers managed services, acting as an outsourced team. On behalf of the American Bankers Association, it is the only issuer of CUSIP identifiers, the standard codes that identify securities. Clients tend to stay. In fiscal 2026, FactSet kept more than 95% of its annual subscription value and 90% of its clients.
FactSet reports three regional segments, based on where clients sign contracts. Of $2.48 billion in revenue for the fiscal year ended August 31, 2026, the Americas contributed $1.62 billion (65%), Europe, the Middle East and Africa $605 million (24%), and Asia Pacific $253 million, roughly a tenth. The US made up 61% of revenue.
Price history
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FDS +31.1% over the year to Nov 2, 2026, total return with dividends reinvested.
How it makes money
By business segment
| Americas | $1.62B | 65.3% |
| EMEA | $605.3M | 24.4% |
| Asia Pacific | $253.5M | 10.2% |
By geography
| UNITED STATES | $1.52B | 61.2% |
| All other countries | $717.6M | 29% |
| United Kingdom ("UK") | $242.6M | 9.8% |
Latest results
- In Q4 FY2026 (ended Aug 31, 2026), revenue was $634.7M, up 6.3% from a year earlier, and net income was $121.1M (-21.1%).
- For fiscal 2026, revenue was $2.48B (+6.7% year over year; +9.2% a year from FY2021 to FY2026) with a 21.5% net margin.
Financial health check
| Revenue growth a year (FY2021–FY2026) | +9.2% good |
|---|---|
| Operating margin | 28.3% good |
| Free cash flow margin | 28.6% good |
| Return on equity (FY2026) | 26.6% good |
| Return on assets (FY2026) | 12.9% good |
| Net cash (cash minus debt) | $-1.10B weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $1.59B | $399.6M | $493.9M |
| FY2022 | $1.84B | $396.9M | $487.1M |
| FY2023 | $2.09B | $468.2M | $584.8M |
| FY2024 | $2.20B | $537.1M | $614.7M |
| FY2025 | $2.32B | $597.0M | $617.5M |
| FY2026 | $2.48B | $533.5M | $707.5M |
Valuation snapshot
| Market value | $12.12B |
|---|---|
| P/E ratio | 23.6 |
| Dividend yield | 1.31% |
Rank among 1514 US companies
Market value at each year end
FactSet Research Systems’s market value went from $6.53B at the end of 2016 to $12.12B on Nov 2, 2026, up 86%; since the end of 2025 it is up 13%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Nov 2, 2026 | $12.12B | +12.6% |
| 2025 | $10.77B | -41.1% |
| 2024 | $18.27B | +0.5% |
| 2023 | $18.17B | +18.4% |
| 2022 | $15.35B | -16.5% |
| 2021 | $18.37B | +45.5% |
| 2020 | $12.63B | +24.2% |
| 2019 | $10.17B | +33.6% |
| 2018 | $7.61B | +1.0% |
| 2017 | $7.54B | +15.5% |
| 2016 | $6.53B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| FDS price data to Nov 2, 2026 | +20.1% | +31.1% | -6.9% | -3.6% | +9.7% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +20.1% |
| 2025 | -38.9% |
| 2024 | +1.6% |
| 2023 | +20.0% |
| 2022 | -16.8% |
| 2021 | +47.5% |
| 2020 | +25.1% |
| 2019 | +35.5% |
| 2018 | +5.0% |
| 2017 | +19.4% |
| 2016 | +1.7% |
| 2015 | +16.7% |
| 2014 | +31.3% |
| 2013 | +24.9% |
| 2012 | +2.2% |
| 2011 | -5.9% |
| 2010 | +44.1% |
| 2009 | +51.1% |
| 2008 | -19.6% |
| 2007 | -0.7% |
| 2006 | +37.9% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 49% over that stretch · deepest drop along the way 54.4%, back to its old high 11.8 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 33.6% over that stretch · deepest drop along the way 33.6%, back to its old high 2.2 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 15.1% over that stretch · deepest drop along the way 26.4%, back to its old high 5.5 months after the low |
Insider activity
Form 4 filings from 2025-11-03 to 2026-11-03 (25 read): 1 open-market purchases ($126K) and 4 sales ($1.5M).
| Date | Insider | Type | Value |
|---|---|---|---|
| Jan 8, 2026 | Laurie Siegel Director | sell | $588K |
| Jan 12, 2026 | Malcolm Frank Director | sell | $452K |
| Jan 12, 2026 | Malcolm Frank Director | sell | $308K |
| Jan 8, 2026 | Laurie Siegel Director | sell | $174K |
| Nov 6, 2025 | Goran Skoko EVP, Chief Revenue Officer | buy | $126K |
Who owns it
Large shareholders (13G filings)
| BAMCO INC /NY/ | 11.81% | Jun 30, 2026 |
| Vanguard Capital Management | 7.37% | Mar 31, 2026 |
| BlackRock, Inc. | 7.2% | Dec 31, 2025 |
| Morgan Stanley | 2.5% | Dec 31, 2025 |
ETFs with the most weight in FDS
| GABF Gabelli Financial Services Opportunities ETF | 5.62% |
| CWS AdvisorShares Focused Equity ETF | 3.62% |
| KMID Virtus KAR Mid-Cap ETF | 2.54% |
| LSGR Natixis Loomis Sayles Focused Growth ETF | 2.47% |
| IAI iShares U.S. Broker-Dealers & Securities Exchanges ETF | 2.12% |
| RUNN Running Oak Efficient Growth ETF | 1.88% |
| KCE SPDR S&P Capital Markets ETF | 1.73% |
| RSPF Invesco S&P 500 Equal Weight Financials ETF | 1.4% |
What could go wrong
- AI could let clients build their own tools. FactSet warns that advances in AI may let clients and other companies create their own data and research tools. That could reduce demand for its subscriptions.
- FactSet's own AI overhaul may fall short. FactSet is redesigning its main desktop software around AI and adding AI agents that complete tasks for users, while going through major organizational change. Weak products or poor execution could hurt results and its reputation.
- The shift to index funds. More money is moving from actively managed funds to index funds that simply track a market. The industry may then need fewer analysts and portfolio managers, which could slow FactSet's user and revenue growth.
- Tied to the financial industry's fortunes. FactSet's clients are mostly banks, asset managers and other finance firms. Market downturns, volatility and mergers among these firms could cost it clients and users or slow its growth.
- Outages and cyberattacks. Clients rely on FactSet for time-sensitive data and share confidential portfolio information with it. A long outage or data breach could drive clients away, and FactSet says its size and role raise the risk.
- Reliance on outside data and cloud suppliers. Some data sets FactSet uses have only a few suppliers, and one provider handled most of its cloud computing in fiscal 2026. Getting enough data center capacity and power may also become harder or costlier.
Recent events
- Quarterly results released; Bylaws or fiscal year changed
- Executive or board change
- Major agreement signed; New debt or financial obligation
- Quarterly results released
- Executive or board change
- Quarterly results released
- Executive or board change
- Executive or board change; Bylaws or fiscal year changed; Shareholder vote results
- Quarterly results released
For income and retirement investors
FactSet pays a modest dividend that keeps rising. Regular dividends per share grew from $3.06 in fiscal 2021 to $4.48 in fiscal 2026, about 8% a year, with increases in at least nine straight fiscal years. The fiscal 2026 dividend used 30.8% of earnings and 23.2% of free cash flow (cash left after capital spending). The yield was 1.45% as of October 28, 2026. Buybacks are larger: $1.38 billion over fiscal 2022–2026 versus $739 million in dividends. They helped cut the share count 6.7% from December 2021 to October 2026.
Past downturns hit the shares hard. From peak to low, they fell 54.4% in the 2008 financial crisis, 33.6% in the 2020 COVID crash and 26.4% in the 2022 bear market. They recovered within about 12, 2 and 5.5 months of those lows. The worst drop in more than 21 years, 61.1%, came in the three years to October 28, 2026. Single stocks carry more risk than diversified funds.
Questions investors ask
How does FactSet make money?
Mainly from subscriptions. Asset managers, investment banks, wealth managers, hedge funds, private equity firms and corporations pay for access to FactSet's financial data, desktop research software, portfolio analytics, data feeds and AI tools over a contract term. It also provides managed services and runs CUSIP Global Services, the only issuer of CUSIP identifiers for securities. Revenue reached $2.48 billion in the fiscal year ended August 31, 2026, up 6.7%, with 65% coming from the Americas.
Does FactSet raise its dividend every year?
Yes, so far. FactSet has raised its dividend in at least nine consecutive fiscal years through fiscal 2026, and the true streak may be longer. Dividends per share grew from $3.06 in fiscal 2021 to $4.48 in fiscal 2026, about 8% a year. The fiscal 2026 dividend used 30.8% of earnings and 23.2% of free cash flow (cash left after capital spending). Past increases do not guarantee future ones, and the yield was a modest 1.45% as of October 28, 2026.
How much has FactSet stock dropped?
Sharply, though it has partly rebounded. The share price fell 38.9% in calendar 2025. Its peak-to-low decline in the three years to October 28, 2026 reached 61.1%, the worst in more than 21 years. As of that date, the shares were 23% lower than three years earlier and 25% lower than five years earlier. They were up 37.4% over six months and 124% over 10 years.
Could AI hurt FactSet's business?
Yes, it could, and the company says so itself. FactSet's annual report warns that advances in AI may let clients and other companies build their own tools, reducing demand for its products. FactSet is responding by redesigning its main workstation around AI. It is also building AI agents for tasks such as financial modeling, pitch creation and meeting preparation, and packaging its data so AI systems can use it. It also warns that its own AI efforts may not succeed.
How much debt does FactSet have?
About $1.37 billion as of August 31, 2026, against $265 million in cash and investments. That leaves net debt of roughly $1.1 billion. For scale, FactSet produced $707 million of free cash flow in fiscal 2026, and shareholders' equity was $2.0 billion. A company filing dated August 31, 2026 disclosed a major agreement and a new debt obligation. The annual report warns that debt could weaken the company's finances and restrict its activities.