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Broadridge Financial Solutions Inc BR

Morningstar Rating
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Stock XNYS Rating as of
$197.65 +2.52 (1.29%)
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As of Delayed Price Post-Trading: $197.65 0.00
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Company Report

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Broadridge's Franchises Are Robust in the Current Environment

Rajiv Bhatia

Broadridge Financial Solutions has been the dominant proxy and interim service provider for broker/dealers for more than 20 years. Its regulated proxy and interim business is its crown jewel, and a disproportionate amount of its net income comes from its fiscal third and fourth quarter during proxy season. In addition, Broadridge generates about 30% of its fee revenue and profit from its global technology and operations segment, which provides securities processing solutions. Amid COVID-19, Broadridge has benefited from higher engagement of retail investors through higher position growth and elevated trading volume.

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Price vs Fair Value

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BR is trading at a 789% premium.
Price
$195.13
Fair Value
$353.00
Uncertainty
Low
1-Star Price
$772.29
5-Star Price
$231.00
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

Broadridge has a dominant market share position on delivering proxies and interims to beneficial shareholders. Direct indexing and the rise of retail investing can support position growth.

Bears

Broadridge’s fees are set by the NYSE Proxy Working Group, which is overseen by the SEC. A fee review could have a negative impact. In addition, asset managers continue to face fee pressures and may be more mindful of regulatory fees in Broadridge's mutual fund and ETF interim business.

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Trading Information

Previous Close Price
$195.13
Day Range
$193.85–197.70
52-Week Range
$156.26–207.55
Bid/Ask
$78.98 / $210.12
Market Cap
$23.36 Bil
Volume/Avg
440,497 / 471,139

Key Statistics

Price/Earnings (Normalized)
26.16
Price/Sales
3.63
Dividend Yield (Trailing)
1.64%
Dividend Yield (Forward)
1.64%
Total Yield
2.43%

Company Profile

Broadridge Financial Solutions, which was spun off from ADP in 2007, is a leading provider of investor communications and technology-driven solutions to banks, broker/dealers, asset managers, wealth managers, and corporate issuers. Broadridge is composed of two segments: investor communication solutions, or ICS, and global technology and operations, or GTO.
Sector
Technology
Industry
Information Technology Services
Stock Style Box
Mid Core
Total Number of Employees
14,700
Website
https://www.broadridge.com

Competitors

Valuation

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Metric
BR
FIS
ENV
Price/Earnings (Normalized)
 26.1616.9731.05
Price/Book Value
 10.152.395.69
Price/Sales
 3.634.012.58
Price/Cash Flow
 20.3610.8015.96
Price/Earnings
BR
FIS
ENV

Financial Strength

Metric
BR
FIS
ENV
Quick Ratio
 1.251.140.81
Current Ratio
 1.391.521.19
Interest Coverage
 6.68−9.88−11.71
Quick Ratio
BR
FIS
ENV

Profitability

Metric
BR
FIS
ENV
Return on Assets (Normalized)
 10.84%5.17%7.56%
Return on Equity (Normalized)
 41.54%12.86%22.37%
Return on Invested Capital (Normalized)
 16.56%8.06%9.74%
Return on Assets
BR
FIS
ENV
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