FACTSET RESEARCH SYSTEMS INC (FDS)

FactSet Research Systems Inc. is a global financial digital platform and enterprise solutions provider that delivers financial intelligence to investment professionals. Founded in 1978 and publicly traded since June 1996, it is listed on the NYSE and NASDAQ under the symbol FDS and has been a member of the S&P 500 since December 2021. Its platform combines multi-asset class data, analytics, and AI-powered technologies that support investment research, portfolio construction and analysis, trade execution, performance measurement, risk management, and reporting. Revenues come primarily from subscriptions, and annual subscription value (ASV) is the key indicator of recurring revenue growth.

The company reports three geographic segments based on where sales originate: the Americas (65% of fiscal 2025 revenues), EMEA (25%), and Asia Pacific (10%). Within each segment it serves four firm types: Institutional Buyside, Dealmakers, Wealth, and Partnerships and CGS. Offerings include desktop, web and mobile workstations, portfolio analytics, enterprise data feeds, cloud-based solutions, APIs, productivity tools for Microsoft Office, CRM and AI-driven workflow tools, and managed services that extend clients' internal data, performance, risk, and reporting teams. CUSIP Global Services (CGS) is the exclusive issuer of CUSIP and CINS identifiers globally and acts as the official ISIN numbering agency for the U.S. and a substitute agency for more than 30 other countries.

As of August 31, 2025, FactSet had 8,996 clients and about 237,000 users, including institutional asset managers, wealth managers, asset owners, hedge funds, bankers, broker-dealers, corporate users, and private equity and venture capital professionals. Buy-side clients accounted for about 82% of Organic ASV and sell-side clients about 18%. Annual ASV retention exceeded 95%, and client retention was 91%.

FactSet aggregates content from third-party data suppliers, news sources, exchanges, brokers, and contributors into managed databases. It seeks at least two providers for each major type of financial data, and two suppliers each represented more than 10% of fiscal 2025 data costs. It runs two redundant U.S. data centers alongside several cloud providers, one of which supplied the majority of its cloud computing support. Its largest competitors are Bloomberg, S&P Market Intelligence, and LSEG Data & Analytics, with others including BlackRock Aladdin, MSCI, and Morningstar. The company had 12,800 employees in 35 offices in 19 countries, with about 68% in centers of excellence mainly in India and the Philippines. A registered broker-dealer subsidiary, P.A.N. Securities, LP, is a FINRA member. Headquarters are in Norwalk, Connecticut.