FactSet Research Systems (FDS)
Market Price (12/20/2025): $287.09 | Market Cap: $10.8 BilSector: Financials | Industry: Financial Exchanges & Data
FactSet Research Systems (FDS)
Market Price (12/20/2025): $287.09Market Cap: $10.8 BilSector: FinancialsIndustry: Financial Exchanges & Data
Investment Highlights
Why It Matters
Which of these 2 stories sounds closer for this stock?
1. Generates cash flow
The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.
2. Riding a trend
Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.9%, FCF Yield is 5.7% | Weak multi-year price returns2Y Excs Rtn is -80%, 3Y Excs Rtn is -105% | Key risksFDS key risks include [1] a reported material weakness in its internal control over financial reporting related to IT general controls. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 31%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 27% | ||
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -39% | ||
| Low stock price volatilityVol 12M is 29% | ||
| Megatrend and thematic driversMegatrends include Fintech & Digital Payments, Cloud Computing, and Digital & Alternative Assets. Themes include Wealth Management Technology, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.9%, FCF Yield is 5.7% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 31%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 27% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -39% |
| Low stock price volatilityVol 12M is 29% |
| Megatrend and thematic driversMegatrends include Fintech & Digital Payments, Cloud Computing, and Digital & Alternative Assets. Themes include Wealth Management Technology, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -80%, 3Y Excs Rtn is -105% |
| Key risksFDS key risks include [1] a reported material weakness in its internal control over financial reporting related to IT general controls. |
Valuation, Metrics & Events
FDS Stock
Why The Stock Moved
Qualitative Assessment
AI Generated Analysis | Feedback
FactSet Research Systems (FDS) experienced a notable stock decline of approximately -22.4% between August 31, 2025, and December 20, 2025. This movement can be attributed to several key factors during this period.
1. Disappointing Q4 Fiscal 2025 Earnings and Guidance: FactSet announced its financial results for the fourth quarter of fiscal 2025 on September 18, 2025. Despite reporting better-than-expected revenue of $596.9 million, shares tumbled 10.4% as adjusted EPS of $4.05 missed analyst estimates. Investors also expressed concern over margin pressure, as the Q4 adjusted operating margin declined to 33.8%, and the fiscal 2025 adjusted operating margin fell 150 basis points to 36.3%, primarily due to higher compensation and technology costs. Additionally, on September 18, FactSet issued fiscal year 2026 EPS guidance that was below analyst estimates.
2. Multiple Analyst Downgrades and Reduced Price Targets: Throughout this period, several investment banks issued cautious outlooks on FactSet's stock. On September 19, 2025, Wells Fargo maintained an "Underweight" rating, decreasing its price target from $355 to $296, a 16.62% drop. The same day, Barclays maintained an "Underweight" rating, lowering its price target from $390 to $300, a 23.08% reduction. In December 2025, Goldman Sachs maintained a "Sell" rating and lowered its price target by 10.28% to $253. Stifel also maintained a "Hold" rating but significantly lowered its price target by 20.70% from $372 to $295 on December 19, 2025. These downgrades and reduced price targets contributed to negative sentiment surrounding the stock.
Stock Movement Drivers
Return vs. Risk
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| FDS Return | 25% | 47% | -17% | 20% | 2% | -42% | 8% |
| Peers Return | 38% | 43% | -24% | 32% | 15% | -10% | 105% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 16% | 112% |
Monthly Win Rates [3] | |||||||
| FDS Win Rate | 58% | 83% | 50% | 67% | 42% | 17% | |
| Peers Win Rate | 63% | 63% | 37% | 60% | 53% | 47% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 73% | |
Max Drawdowns [4] | |||||||
| FDS Max Drawdown | -24% | -11% | -28% | -4% | -17% | -47% | |
| Peers Max Drawdown | -26% | -8% | -35% | -5% | -8% | -20% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: SPGI, MCO, MSCI, MORN, TRI. See FDS Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/19/2025 (YTD)
How Low Can It Go
| Event | FDS | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -28.7% | -25.4% |
| % Gain to Breakeven | 40.2% | 34.1% |
| Time to Breakeven | 881 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -33.7% | -33.9% |
| % Gain to Breakeven | 50.9% | 51.3% |
| Time to Breakeven | 72 days | 148 days |
| 2018 Correction | ||
| % Loss | -22.4% | -19.8% |
| % Gain to Breakeven | 28.9% | 24.7% |
| Time to Breakeven | 133 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -54.9% | -56.8% |
| % Gain to Breakeven | 121.6% | 131.3% |
| Time to Breakeven | 361 days | 1,480 days |
Compare to CBOE, TW, MKTX, DFIN, SPGI
In The Past
FactSet Research Systems's stock fell -28.7% during the 2022 Inflation Shock from a high on 12/29/2021. A -28.7% loss requires a 40.2% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth over time.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
Latest Trefis Analyses
Trade Ideas
Select past ideas related to FDS. For more, see Trefis Trade Ideas.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11212025 | WU | Western Union | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 13.5% | 13.5% | -0.4% |
| 11212025 | COIN | Coinbase Global | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 2.0% | 2.0% | -0.5% |
| 11142025 | PYPL | PayPal | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -4.8% | -4.8% | -7.5% |
| 11142025 | V | Visa | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 5.8% | 5.8% | -2.7% |
| 11072025 | WD | Walker & Dunlop | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | -12.1% | -12.1% | -12.1% |
| 09262025 | FDS | FactSet Research Systems | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | -0.0% | -0.0% | -12.5% |
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11212025 | WU | Western Union | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 13.5% | 13.5% | -0.4% |
| 11212025 | COIN | Coinbase Global | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 2.0% | 2.0% | -0.5% |
| 11142025 | PYPL | PayPal | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -4.8% | -4.8% | -7.5% |
| 11142025 | V | Visa | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 5.8% | 5.8% | -2.7% |
| 11072025 | WD | Walker & Dunlop | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | -12.1% | -12.1% | -12.1% |
| 09262025 | FDS | FactSet Research Systems | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | -0.0% | -0.0% | -12.5% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons for FactSet Research Systems
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 395.81 |
| Mkt Cap | 51.3 |
| Rev LTM | 5,216 |
| Op Inc LTM | 1,892 |
| FCF LTM | 1,605 |
| FCF 3Y Avg | 1,571 |
| CFO LTM | 1,988 |
| CFO 3Y Avg | 1,918 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 8.3% |
| Rev Chg 3Y Avg | 9.3% |
| Rev Chg Q | 8.6% |
| QoQ Delta Rev Chg LTM | 2.1% |
| Op Mgn LTM | 36.2% |
| Op Mgn 3Y Avg | 33.8% |
| QoQ Delta Op Mgn LTM | 1.1% |
| CFO/Rev LTM | 34.8% |
| CFO/Rev 3Y Avg | 34.7% |
| FCF/Rev LTM | 29.3% |
| FCF/Rev 3Y Avg | 29.9% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 51.3 |
| P/S | 9.2 |
| P/EBIT | 25.1 |
| P/E | 34.6 |
| P/CFO | 25.9 |
| Total Yield | 4.4% |
| Dividend Yield | 1.0% |
| FCF Yield 3Y Avg | 2.9% |
| D/E | 0.1 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 3.5% |
| 3M Rtn | 0.7% |
| 6M Rtn | -13.0% |
| 12M Rtn | -11.1% |
| 3Y Rtn | 25.7% |
| 1M Excs Rtn | 0.6% |
| 3M Excs Rtn | -2.9% |
| 6M Excs Rtn | -27.7% |
| 12M Excs Rtn | -25.7% |
| 3Y Excs Rtn | -53.0% |
Comparison Analyses
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 12/18/2025 | -7.7% | ||
| 9/18/2025 | -4.0% | -5.8% | -4.8% |
| 6/23/2025 | 3.5% | 4.5% | -1.4% |
| 3/20/2025 | 0.4% | 4.2% | -4.2% |
| 12/19/2024 | 3.5% | 3.9% | -1.8% |
| 9/19/2024 | 5.1% | 2.5% | 5.7% |
| 6/21/2024 | 3.8% | 1.6% | 5.1% |
| 3/21/2024 | -7.6% | -8.3% | -11.0% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 12 | 15 | 14 |
| # Negative | 12 | 9 | 10 |
| Median Positive | 3.6% | 3.6% | 3.5% |
| Median Negative | -4.3% | -5.8% | -4.8% |
| Max Positive | 15.1% | 12.3% | 17.9% |
| Max Negative | -8.3% | -8.7% | -11.0% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 8312025 | 10222025 | 10-K 8/31/2025 |
| 5312025 | 7032025 | 10-Q 5/31/2025 |
| 2282025 | 4042025 | 10-Q 2/28/2025 |
| 11302024 | 1082025 | 10-Q 11/30/2024 |
| 8312024 | 10292024 | 10-K 8/31/2024 |
| 5312024 | 7032024 | 10-Q 5/31/2024 |
| 2292024 | 4032024 | 10-Q 2/29/2024 |
| 11302023 | 1052024 | 10-Q 11/30/2023 |
| 8312023 | 10272023 | 10-K 8/31/2023 |
| 5312023 | 7032023 | 10-Q 5/31/2023 |
| 2282023 | 4032023 | 10-Q 2/28/2023 |
| 11302022 | 1052023 | 10-Q 11/30/2022 |
| 8312022 | 10212022 | 10-K 8/31/2022 |
| 5312022 | 7012022 | 10-Q 5/31/2022 |
| 2282022 | 4042022 | 10-Q 2/28/2022 |
| 11302021 | 1032022 | 10-Q 11/30/2021 |
External Quote Links
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| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |