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FactSet has a subscription-led model that has delivered steady multi-year revenue growth and substantial operating cash generation with comparatively modest capital spending. Historically high operating profitability supports that cash generation, while share repurchases have reduced the diluted share count.
Fiscal 2026 sustained revenue growth and increased free cash flow, but operating income and net income declined as costs rose faster than revenue. This is a meaningful profitability squeeze, while continued revenue growth and cash generation leave the established subscription-and-cash-generation profile intact.
Whether operating margins stabilize as restructuring and compensation-related costs recede or change.
| Metric | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| 1.2B | 1.4B | 1.4B | 1.5B | 1.6B | 1.8B | 2.1B | 2.2B | 2.3B | ||
| (566.6m) | (659.3m) | (663.4m) | (695.4m) | (786.4m) | (871.1m) | (973.2m) | (1B) | (1.1B) | (1.2B) | |
| 654.6m | 690.8m | 771.9m | 798.7m | 805m | 972.8m | 1.1B | 1.2B | 1.2B | 1.3B | |
| (298.6m) | (324.6m) | (333.9m) | (359m) | (331m) | (433m) | (457.1m) | (485.1m) | (475.7m) | (553.2m) | |
| (298.6m) | (324.6m) | (333.9m) | (359m) | (331m) | (433m) | (457.1m) | (485.1m) | (475.7m) | (553.2m) | |
| 356m | 366.2m | 438m | 439.7m | 474m | 539.8m | 655.2m | 706m | 748.3m | ||
| (6.6m) | (14.4m) | (16.1m) | (9.8m) | (6.4m) | (29.5m) | (53.5m) | (51.3m) | (49.8m) | (50.6m) | |
| — | — | — | — | — | — | 66.3m | 65.8m | 56.3m | 54.7m | |
| (5.1m) | 0 | 0 | — | — | (64.3m) | (25.9m) | (4.7m) | — | — | |
| — | — | — | (2.7m) | (30k) | (2.4m) | 8.3m | 1.5m | 22.4m | 379k | |
| 344.3m | 351.8m | 422m | 427.1m | 467.6m | 443.6m | 584m | 651.5m | 721m | 649.7m | |
| (86.1m) | (59.3m) | (72.6m) | (54.2m) | (68m) | (46.7m) | (115.8m) | (114.4m) | (123.9m) | (116.2m) | |
| 258.3m | 292.6m | 349.4m | 372.9m | 399.6m | 396.9m | 468.2m | 537.1m | 597m | 533.5m | |
| 258.3m | 267.1m | 352.8m | 372.9m | 399.6m | 396.9m | 468.2m | 537.1m | 597m | ||
| 6.51 | 6.78 | 9.07 | 9.65 | 10.36 | 10.25 | 12.04 | 13.91 | 15.55 |
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Stock intrinsic value is the real worth of a company's stock, based on its financial health and performance.
Instead of looking at the stock's current market price, which can change due to people's opinions and emotions, intrinsic value helps us understand if a stock is truly a good deal or not.
By focusing on the company's actual financial strength, like its earnings and debts, we can make better decisions about which stocks to buy and when.
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