In its seasonally soft fiscal first quarter, Broadridge reported revenue of $1.67 billion, up 5%, and adjusted EPS growth of 3%. Recurring fee revenue grew 9% organically, while event-driven fees declined $46 million from an elevated prior-year result. Broadridge reaffirmed its full-year outlook.
Broadridge has a dominant market share position in delivering proxies and interims to beneficial shareholders. Direct indexing and the rise of retail investing can support position growth beyond consensus expectations.
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.
|
Metric
|
BR
|
FIS
|
SSNC
|
|---|---|---|---|
Price/Earnings (Normalized) | 19.06 | 6.47 | 11.69 |
Price/Book Value | 7.94 | 1.25 | 2.83 |
Price/Sales | 2.83 | 1.66 | 2.97 |
Price/Cash Flow | 13.95 | 5.61 | 10.34 |
|
Metric
|
BR
|
FIS
|
SSNC
|
|---|---|---|---|
Quick Ratio | 1.02 | 0.42 | 1.02 |
Current Ratio | 1.21 | 0.53 | 1.06 |
Interest Coverage | 12.68 | 3.23 | 3.48 |
|
Metric
|
BR
|
FIS
|
SSNC
|
|---|---|---|---|
Return on Assets (Normalized) | 12.98% | 8.35% | 8.29% |
Return on Equity (Normalized) | 40.76% | 21.17% | 24.24% |
Return on Invested Capital (Normalized) | 19.33% | 11.43% | 13.99% |
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1-Day Chart
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United States