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FactSet (FDS) FY2025 10-K Annual Report

Filed: Oct 22, 2025
Information Technology
Services-Computer Programming, Data Processing, Etc.SEC EDGAR
FactSet Overview

FactSet (FDS) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Oct 22, 2025. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.

FactSet FY2025 10-K Analysis

Business Overview

  • • Core business model: Provider of financial data, analytics, and related technology solutions
  • • No new products, services, or segments introduced or emphasized in 2025 filing
  • • No reported strategic shift or changes in competitive positioning versus prior year
  • • Equity compensation plans: 1,977,727 shares outstanding, weighted-average exercise price $347.50, 3,492,745 shares available for future issuance
  • • Noteworthy fact: Equity awards include 1,685,011 options, 201,226 RSUs, 91,490 PSUs as of August 31, 2025

Management Discussion & Analysis

  • • Revenue details not explicitly stated; subscription-based Hosted and Identifier Platforms drive client access
  • • Research & product development costs $300.7M in FY2025 vs $265.2M in FY2024 and $267.4M in FY2023
  • • Accounts receivable reserve $13.8M in FY2025 vs $14.6M in FY2024; no client >3.5% of total revenues from FY2023-25
  • • Treasury stock repurchases include 1% excise tax per Inflation Reduction Act; no dollar amount disclosed
  • • No forward-looking revenue/margin guidance; monitoring SEC climate disclosure rule impact and potential risks from tax audits

Risk Factors

  • • Regulatory risk from SEC data privacy regulations impacting multi-asset class subscription data usage controls
  • • Geopolitical exposure in EMEA and Asia Pacific with 3 segments contributing to global revenues from 9,000 clients
  • • Operational risk in CGS business supporting critical security master files for front, middle, and back-office investment functions
  • • Competitive threat from AI-enhanced analytics platforms in financial data discovery and workflow automation by established fintech firms
  • • Financial risk concentration in subscription revenues making up majority of income, dependent on retention of 237,000 investment professional users

FactSet FY2025 Key Financial Metrics
XBRL

Revenue

$2.3B

▲ +5.4% YoY

Net Income

$597M

▲ +11.2% YoY

Operating Margin

32.2%

▲ +40bp YoY

Net Margin

25.7%

▲ +133bp YoY

ROE

27.3%

▼ -78bp YoY

Total Assets

$4.3B

▲ +6.1% YoY

EPS (Diluted)

$15.55

▲ +11.8% YoY

Operating Cash Flow

$726M

▲ +3.7% YoY

Source: XBRL data from FactSet FY2025 10-K filing on SEC EDGAR. All figures in USD.

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