Short answer
FactSet (FDS) filed its fiscal 2025 10-K annual report with the SEC on Oct 22, 2025. It reported revenue of $2.3B (+5.4% year over year) and net income of $597M.
- Top risk flagged: Regulatory risk from SEC data privacy regulations impacting multi-asset class subscription data usage controls
FY2025 key financial metrics · XBRL
- Revenue
- $2.3B
- +5.4% YoY
- Net income
- $597M
- +11.2% YoY
- Operating margin
- 32.2%
- +0.4 pp YoY
- EPS (diluted)
- $15.55
- +11.8% YoY
- ROE
- 27.3%
- −0.8 pp YoY
- Operating cash flow
- $726M
- +3.7% YoY
Source: XBRL data from the FactSet (FDS) FY2025 10-K on SEC EDGAR. USD.
FactSet FY2025 10-K analysis
AI summary of each section, grounded in the filing text
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
Generated from the filing text; verify against the original. How to read a 10-K
Ask about this 10-K
Compare years, dig into a risk factor or check the numbers against insider trades and fund holders.