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FactSet Research Systems Inc FDS

Rating as of

Morningstar’s Analysis

Valuation
Currency in USD
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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

FactSet Continues to Chug Along

Rajiv Bhatia, CFA Equity Analyst

Analyst Note

| Rajiv Bhatia, CFA |
FactSet reported decent fiscal second-quarter results and a mostly unchanged outlook. Revenue of $391.8 million during the quarter was in line with the FactSet consensus estimate of $391.7 million. Adjusted earnings per share of $2.72 was a penny below the consensus of $2.73, which we'd attribute to a slightly higher tax rate. Aside from tweaking its ASV growth outlook to $70 million-$85 million from $55 million-$85 million, FactSet left its fiscal 2021 outlook, which includes revenue of $1.570 billion-$1.585 billion and adjusted EPS of $10.75-$11.15, unchanged. Overall, there was little in FactSet's earnings release that would alter our long-term view of the firm, and we will maintain our narrow moat rating and $260 fair value estimate.
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Company Profile

Business Description

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.

Contact
45 Glover Avenue, 7th Floor
Norwalk, CT, 06850
T +1 203 810-1000
Sector Financial Services
Industry Financial Data & Stock Exchanges
Most Recent Earnings Feb 28, 2021
Fiscal Year End Aug 31, 2021
Stock Type Cyclical
Employees 10,660