FactSet Research Systems Inc. Earnings Summary — Q3 2026

• Revenue reached a quarterly high of $622.92 million, representing a 6.39% year-over-year increase.
• Net income saw a significant year-over-year decline of 14.69%, dropping to $126.72 million from $148.54 million in Q3 2025.
• Operating expenses increased significantly to $144.43 million, a 30.5% increase year-over-year, which compressed operating margins.
• FactSet continues to successfully transition into a comprehensive data platform, integrating ESG and wealth management analytics.
• The business maintains a highly resilient profile with over 95% subscription retention, providing stable cash flow despite market volatility.
• Interest expense remains stable at $13.84 million as the company continues its post-CUSIP acquisition deleveraging strategy.

Management remains focused on growing Annual Subscription Value (ASV) and maintaining a disciplined approach to acquisitions while expanding the 'Open FactSet' cloud transformation initiative.

Stable

While revenue growth remains consistent, the decline in net profit due to increased operating expenses warrants a cautious outlook on short-term margin expansion.

FactSet is positioned as a high-quality compounder with structural advantages in recurring revenue, though it faces intense competition and sensitivity to financial sector headcount trends.