Revenue has demonstrated consistent growth to $611.0 million in 2026Q2, though gross margins have faced structural pressure, contracting from 55.3% in 2024Q3 to 51.4% in 2026Q2.
| Metric | TTM | Aug'25 | Aug'24 | Aug'23 | Aug'22 | Aug'21 | Aug'20 | Aug'19 | Aug'18 | Aug'17 | Aug'16 | Aug'15 | Aug'14 | Aug'13 | Aug'12 | Aug'11 | Aug'10 | Aug'09 | Aug'08 | Aug'07 | Aug'06 | Aug'05 | Aug'04 | Aug'03 | Aug'02 | Aug'01 | Aug'00 | Aug'99 | Aug'98 | Aug'97 | Aug'96 |
|---|
| Net Interest Income | -75.69M | -49.79M | -51.33M | -53.51M | -29.52M | -6.39M | -9.83M | -16.62M | -16.29M | -6.6M | -1.14M | 1.84M | 1.2M | 1.3M | 1.1M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| NII Growth % | -194.98% | 3% | 4.07% | -81.25% | -361.71% | 34.95% | 40.87% | -2.08% | -146.76% | -480.99% | -161.87% | 53% | -7.69% | 18.18% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Net Interest Margin % | -1.79% | -1.16% | -1.27% | -1.35% | -0.74% | -0.29% | -0.47% | -1.07% | -1.15% | -0.47% | -0.11% | 0.25% | 0.18% | 0.19% | 0.16% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Interest Income | 5.54M | 6.53M | 14.45M | 12.81M | 6.17M | 1.81M | 0 | 0 | 0 | 1.6M | 1.6M | 1.94M | 1.2M | 1.3M | 1.1M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 81.22M | 56.32M | 65.78M | 66.32M | 35.7M | 8.2M | 9.83M | 16.62M | 16.29M | 8.2M | 2.74M | 100K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Loan Loss Provision | 1.07B | 1.04B | 946.17M | 906.91M | 835.41M | 778.2M | 685.62M | 646.82M | 643.01M | 558.38M | 484.67M | 405.24M | 353.69M | 306.38M | 275.54M | 244.62M | 206.55M | 209.36M | 191.24M | 152.8M | 121.35M | 91.8M | 74.19M | 66.29M | 67.95M | 61.58M | 33.63M | 27.5M | 24M | 18.7M | 9.6M |
| Non-Interest Income | 2.4B | 2.32B | 2.19B | 2.07B | 1.84B | 1.59B | 1.49B | 1.44B | 1.35B | 1.22B | 1.13B | 1B | 919.13M | 856.81M | 804.69M | 726.51M | 641.06M | 622.02M | 575.52M | 475.8M | 387.35M | 312.64M | 251.91M | 222.29M | 205.85M | 176.69M | 134.18M | 103.8M | 78.9M | 58.4M | 44.3M |
| Non-Interest Income % | 99.77% | 99.72% | 99.34% | 99.39% | 99.67% | 99.89% | 100% | 100% | 100% | 99.87% | 99.86% | 99.81% | 99.87% | 99.85% | 99.86% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% |
| Total Revenue | 2.4B | 2.32B | 2.2B | 2.09B | 1.84B | 1.59B | 1.49B | 1.44B | 1.35B | 1.22B | 1.13B | 1.01B | 920.34M | 858.11M | 805.79M | 726.51M | 641.06M | 622.02M | 575.52M | 475.8M | 387.35M | 312.64M | 251.91M | 222.29M | 205.85M | 176.69M | 134.18M | 103.8M | 78.9M | 58.4M | 44.3M |
| Revenue Growth % | 26.03% | 5.39% | 5.64% | 13.1% | 15.86% | 6.51% | 4.09% | 6.31% | 10.56% | 8.35% | 11.95% | 9.39% | 7.25% | 6.49% | 10.91% | 13.33% | 3.06% | 8.08% | 20.96% | 22.83% | 23.89% | 24.11% | 13.32% | 7.99% | 16.51% | 31.68% | 29.27% | 31.56% | 35.1% | 31.83% | - |
| Non-Interest Expense | 498.5M | 475.66M | 489.81M | 483.08M | 497.3M | 331M | 359M | 333.87M | 324.64M | 302.46M | 290.01M | 269.51M | 264.43M | 282.31M | 257.27M | 243.55M | 212.88M | 201.63M | 200.39M | 167.91M | 144.71M | 111.82M | 90.12M | 79.28M | -6.03M | 64.21M | 61.38M | 47.7M | 34.1M | 24.8M | 24M |
| Efficiency Ratio | 20.76% | 20.49% | 22.23% | 23.16% | 26.97% | 20.8% | 24.03% | 23.26% | 24.05% | 24.77% | 25.73% | 26.77% | 28.73% | 32.9% | 31.93% | 33.52% | 33.21% | 32.42% | 34.82% | 35.29% | 37.36% | 35.77% | 35.77% | 35.67% | -2.93% | 36.34% | 45.75% | 45.95% | 43.22% | 42.47% | 54.18% |
| Operating Income | 748.51M | 748.3M | 701.3M | 630.21M | 475.48M | 474.04M | 439.66M | 438.04M | 366.2M | 352.13M | 349.68M | 331.92M | 302.22M | 287.72M | 272.99M | 238.34M | 221.63M | 211.03M | 183.89M | 155.09M | 121.29M | 109.02M | 87.6M | 76.73M | 143.94M | 50.9M | 39.17M | 28.6M | 20.8M | 14.9M | 10.7M |
| Operating Margin % | 31.17% | 32.23% | 31.83% | 30.22% | 25.79% | 29.79% | 29.43% | 30.52% | 27.12% | 28.84% | 31.02% | 32.97% | 32.84% | 33.53% | 33.88% | 32.81% | 34.57% | 33.93% | 31.95% | 32.6% | 31.31% | 34.87% | 34.78% | 34.52% | 69.92% | 28.81% | 29.19% | 27.55% | 26.36% | 25.51% | 24.15% |
| Operating Income Growth % | - | 6.7% | 11.28% | 32.54% | 0.3% | 7.82% | 0.37% | 19.61% | 4% | 0.7% | 5.35% | 9.83% | 5.04% | 5.4% | 14.54% | 7.54% | 5.02% | 14.76% | 18.57% | 27.87% | 11.25% | 24.45% | 14.17% | -46.69% | 182.76% | 29.96% | 36.95% | 37.5% | 39.6% | 39.25% | - |
| Pretax Income | 720.12M | 720.96M | 651.5M | 584.95M | 443.59M | 467.62M | 427.13M | 421.96M | 351.84M | 344.31M | 460.99M | 333.75M | 303.46M | 270.91M | 274.7M | 238.96M | 222.18M | 212.12M | 189.05M | 162.88M | 126.03M | 110.16M | 89.38M | 79.02M | 64.24M | 54.25M | 39.58M | 30.7M | 22.4M | 15.7M | 11.4M |
| Pretax Margin % | 29.99% | 31.05% | 29.57% | 28.05% | 24.06% | 29.38% | 28.59% | 29.4% | 26.06% | 28.2% | 40.9% | 33.15% | 32.97% | 31.57% | 34.09% | 32.89% | 34.66% | 34.1% | 32.85% | 34.23% | 32.54% | 35.24% | 35.48% | 35.55% | 31.21% | 30.7% | 29.5% | 29.58% | 28.39% | 26.88% | 25.73% |
| Income Tax | 132.33M | 123.92M | 114.38M | 116.82M | 46.68M | 68.03M | 54.2M | 69.17M | 84.75M | 86.05M | 122.18M | 92.7M | 91.92M | 72.27M | 85.9M | 67.91M | 71.97M | 67.17M | 64.03M | 53.31M | 43.12M | 38.4M | 31.36M | 27.58M | 23.39M | 20.84M | 14.3M | 12.1M | 9.8M | 6.8M | 4.9M |
| Effective Tax Rate % | 18.38% | 17.19% | 17.56% | 19.97% | 10.52% | 14.55% | 12.69% | 16.39% | 24.09% | 24.99% | 26.5% | 27.78% | 30.29% | 26.68% | 31.27% | 28.42% | 32.39% | 31.67% | 33.87% | 32.73% | 34.21% | 34.86% | 35.09% | 34.9% | 36.41% | 38.43% | 36.13% | 39.41% | 43.75% | 43.31% | 42.98% |
| Net Income | 587.79M | 597.04M | 537.13M | 468.17M | 396.92M | 399.59M | 372.94M | 352.79M | 267.08M | 258.26M | 338.81M | 241.05M | 211.54M | 198.64M | 188.81M | 171.05M | 150.21M | 144.95M | 125.02M | 109.57M | 82.92M | 71.77M | 58.02M | 51.44M | 40.85M | 33.4M | 25.28M | 18.6M | 12.8M | 8.9M | 6.5M |
| Net Margin % | 24.48% | 25.72% | 24.38% | 22.45% | 21.53% | 25.11% | 24.96% | 24.58% | 19.78% | 21.15% | 30.06% | 23.94% | 22.99% | 23.15% | 23.43% | 23.54% | 23.43% | 23.3% | 21.72% | 23.03% | 21.41% | 22.95% | 23.03% | 23.14% | 19.84% | 18.9% | 18.84% | 17.92% | 16.22% | 15.24% | 14.67% |
| Net Income Growth % | 8.35% | 11.15% | 14.73% | 17.95% | -0.67% | 7.15% | 5.71% | 32.09% | 3.42% | -23.78% | 40.56% | 13.95% | 6.5% | 5.21% | 10.38% | 13.87% | 3.63% | 15.94% | 14.1% | 32.14% | 15.54% | 23.7% | 12.79% | 25.93% | 22.3% | 32.13% | 35.91% | 45.31% | 43.82% | 36.92% | - |
| Net Income (Continuing) | 587.79M | 597.04M | 537.13M | 468.17M | 396.92M | 399.59M | 372.94M | 352.79M | 267.08M | 258.26M | 338.81M | 241.05M | 211.54M | 198.64M | 188.81M | 171.05M | 150.21M | 144.95M | 125.02M | 109.57M | 82.92M | 71.77M | 58.02M | 51.44M | 40.85M | 33.4M | 25.28M | 18.6M | 12.6M | 8.9M | 6.5M |
| EPS (Diluted) | 15.86 | 15.55 | 13.91 | 12.04 | 10.25 | 10.36 | 9.65 | 9.08 | 6.78 | 6.51 | 8.19 | 5.71 | 4.92 | 4.45 | 4.12 | 3.61 | 3.13 | 2.97 | 2.50 | 2.14 | 1.64 | 1.43 | 0.77 | 0.99 | 0.78 | 0.43 | 0.49 | 0.39 | 0.29 | 0.18 | 0.15 |
| EPS Growth % | 10.67% | 11.79% | 15.53% | 17.46% | -1.06% | 7.36% | 6.28% | 33.92% | 4.15% | -20.51% | 43.43% | 16.06% | 10.56% | 8.01% | 14.13% | 15.34% | 5.39% | 18.8% | 16.82% | 30.49% | 14.69% | 85.71% | -22.22% | 26.92% | 81.4% | -12.24% | 25.64% | 34.48% | 61.11% | 20% | - |
| EPS (Basic) | - | 15.74 | 14.11 | 12.26 | 10.48 | 10.56 | 9.83 | 9.25 | 6.90 | 6.55 | 8.29 | 5.80 | 4.98 | 4.53 | 4.26 | 3.80 | 3.22 | 3.07 | 2.60 | 2.24 | 1.70 | 1.50 | 0.80 | 1.02 | 0.81 | 0.67 | 0.53 | 0.39 | 0.29 | 0.18 | 0.15 |
| Diluted Shares Outstanding | 37.06M | 38.38M | 38.62M | 38.9M | 38.74M | 38.57M | 38.65M | 38.87M | 39.38M | 39.64M | 41.37M | 42.23M | 42.97M | 44.62M | 45.81M | 47.35M | 48M | 48.79M | 50.08M | 51.2M | 50.59M | 50.16M | 75.92M | 52.22M | 52.29M | 51.09M | 51.59M | 47.18M | 44.41M | 48.77M | 42.87M |
Margin compression from royalties
According to reported quarterly data, FactSet has maintained a consistent revenue trajectory, growing from $542.2 million in 2024Q1 to $611.0 million in 2026Q2, reflecting the inherent stability of its subscription-based model despite broader fluctuations in financial sector headcount and institutional research spending patterns.
The steady top-line expansion suggests that the company's workflow-embedded solutions provide a defensive moat against cyclical budget rationalization. However, investors should monitor whether this growth remains sufficient to offset the rising costs of third-party data inputs that are essential to the platform's value proposition.
As indicated by the income statement, FactSet's gross margin has experienced a slight compression, moving from a peak of 55.3% in 2024Q3 down to 51.4% in 2026Q2, highlighting the ongoing challenge of managing data royalty costs in a competitive financial information landscape.
The inability to consistently expand gross margins suggests that third-party data providers retain significant pricing power, which may limit FactSet's ability to capture the full value of its platform integrations. This structural headwind warrants further investigation into the company's long-term strategy for increasing proprietary content ownership.
Based on the provided financial figures, operating margins have shown volatility, declining from a high of 36.6% in 2024Q3 to 30.3% in 2026Q2, which suggests that SG&A expenses are currently scaling at a rate that outpaces the company's ability to drive incremental operating income.
The recent uptick in SG&A spending may indicate necessary investments in technology or AI-driven product enhancements, yet it raises questions regarding the efficiency of current overhead management. Analysts should watch for a stabilization in these costs to confirm if the company can return to historical operating leverage levels.
Analysis of the reported figures reveals that net income has fluctuated significantly, with a notable dip to $89.5 million in 2024Q4, while stock-based compensation remains a persistent line item, reaching $20.9 million in 2026Q2, which may impact the underlying quality of reported earnings per share.
The variability in net income appears to be influenced by non-operating items and periodic spikes in expenses, suggesting that investors should focus on normalized profitability metrics. The consistent level of stock-based compensation warrants further investigation into its dilutive effect on long-term shareholder value.
Quick answers to the most common questions about buying FDS stock.
FactSet Research Systems Inc. (FDS) is profitable, generating $597.0M in net income for the fiscal year ending 2025 with a net profit margin of 25.7%.
FactSet Research Systems Inc. (FDS) reported an operating income of $748.3M, resulting in an operating profit margin of 32.2%. This margin reflects the operational efficiency of the business before interest and taxes.
FactSet Research Systems Inc. (FDS) generated $1.22B in gross profit for the year, representing a gross profit margin of 52.7%. This demonstrates the company's core pricing power and production efficiency.