EarningsQ4 2026 Earnings Report
MX:FDS Q4 2026 EPS Results
Actual EPS$81.79
Consensus EPS$78.75
Beat/MissBeat by +$3.04
One Year Ago EPS$73.29
MX:FDS Q4 2026 Revenue Results
Actual Revenue$11.49B
Expected Revenue$11.40B
Beat/MissBeat by +$88.12M
YoY Revenue Growth+6.33%
Earnings Announcement Details
QuarterQ4 2026
Date09/30/2026
TimeBefore Open
Conference CallWednesday, September 30, 2026
MX:FDS Upcoming Earnings
Factset Research's next earnings date is estimated for December 17, 2026, based on past reporting schedules.
Q4 2026 Earnings Call Audio
MX:FDS Q4 2026 Earnings Call
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Q4 2026 Earnings Slide Deck
Q4 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was strongly positive overall. FactSet reported record ASV performance, broad-based growth, significant competitive wins, accelerating MCP and AI adoption, productivity improvements, strong free cash flow and substantial shareholder returns. The main negatives were lower operating margins, restructuring-related costs and head count reductions, a lower fiscal 2027 ASV growth range, and tax and interest expense headwinds. Management nevertheless projected margin improvement and high single-digit EPS growth for fiscal 2027.Company Guidance
Record Organic ASV Performance
Fiscal 2026 organic ASV grew 7%, or $168 million, to $2.56 billion, exceeding the high end of guidance. Q4 generated $86 million of organic ASV, the largest quarter in FactSet's history, and Q4 ASV growth accelerated more than 125 basis points versus the comparable rate in 2025.
Broad-Based Client and Regional Growth
Growth was reported across all client types and regions. In Q4, institutional buy-side organic ASV grew 5%, dealmakers grew 9%, wealth grew 9% and market infrastructure grew 8%. Regional organic ASV growth was 7% in the Americas, 5% in EMEA and over 10% in Asia Pacific, FactSet's fastest-growing region.
Revenue and Earnings Growth
Q4 revenue grew more than 6% to over $634 million, or 7.1% on a like-for-like basis. Q4 adjusted EPS increased 11.6% year-over-year to $4.52. Full-year revenue reached $2.476 billion, up 6.7%, and adjusted EPS grew 6% to $18.01; both exceeded the high end of guidance.
Record Full-Year ASV Dollar Growth
The $168 million of organic ASV generated in fiscal 2026 was more than 30% higher than the organic ASV generated in fiscal 2025 and represented FactSet's best growth-rate results in the last three years.
Strong Client Retention and Expansion
ASV retention remained over 95%, with strong expansion. Data ASV delivered through direct feeds, APIs, MCP or partners continued to grow at double digits, while AI adoption supported new-logo acquisition and enterprise adoption supported retention and expansion among the largest clients.
Longer-Duration Enterprise Agreements
In Q4, the majority of renewed ASV was secured through enterprise agreements or contracts with terms of 3 years or longer. Average contract length increased by roughly 30% while broadly preserving pricing.
Significant Banking Wins
Three months after launching FactSet AI for Banking, a bulge bracket investment bank selected the full agentic banking stack across its global footprint, and additional AI for Banking deals were signed. FactSet also displaced a long-standing incumbent at a large regional bank with a deal including MCP and deep sector content and a clear path for expansion.
Large Buy-Side Enterprise Wins
FactSet secured several significant 8-figure enterprise deals. It renewed a large global asset manager under a new enterprise agreement including transactional services, MCP and data feeds; expanded another global asset manager's managed services agreement into performance and holdings-based analysis; and displaced an incumbent at a European quant fund with data feeds and a programmatic environment API.
Wealth Management Competitive Wins
FactSet secured two major competitive displacements involving workstations and real-time data feeds, now serves Canada's five largest wealth managers and gained traction among independent firms. A leading U.K. wealth manager also selected FactSet's performance reporting solution.
AI Products Exceeded Prior-Year Contribution
AI-related solutions represented a double-digit share of new ASV in Q4, exceeding fiscal 2025's total AI contribution. More than 10% of the $86 million of Q4 ASV generated came from AI SKUs and new AI-enabled offerings.
MCP Adoption and Usage Accelerated
More than 650 clients were actively engaged under contracts or trials to consume FactSet data through MCP at fiscal year-end. MCP client adoption grew 40% during the quarter, Q4 API call volume reached 7 times the prior-quarter level, and the prior quarter's volume had grown 13 times from the quarter before it. Since quarter-end, management said adoption had expanded by at least another 20%.
AI Solutions Driving Faster Client Growth
Clients using FactSet AI solutions grew their ASV twice as fast as the rest of the client base in Q4. Among workstation clients adding MCP, the majority increased total ASV, with average overall ASV growth of 20% to 50% more among workstation users that adopted MCP.
Expanded Agentic and Analytics Capabilities
FactSet launched its first analytics MCP, extending portfolio analytics into agentic workflows for performance measurement, risk and reporting. The company also launched or expanded capabilities including MCP data delivery, multi-asset-class risk models, quant modeling tools and agents for banking, buy-side and wealth management clients.
Productivity Gains from AI and Consolidation
AI-enabled projects across product and engineering teams expanded by roughly 40%. Coding-assistance token usage grew more than 80% quarter-over-quarter while token spend grew at only half that pace. Platform consolidation and agent-assisted engineering cut private-markets data processing times by more than 75%, halved onboarding effort and more than doubled delivery speed.
Client Assist Agent Rolled Out Globally
The client assist agent was fully rolled out to all clients in Q4 and now resolves over 30% of user-initiated requests without human interaction.
Investment in Data and AI Infrastructure
FactSet continued investing in its data refinery, private-markets data, real-time data, pricing and reference data, and machine-ready data capabilities. Management said these investments support clients preparing for 23/5 trading and strengthen the company's AI foundation.
BCC Group Acquisition Expands Real-Time Data Offering
The acquisition of Frankfurt-based BCC Group adds a platform for distributing and managing real-time feeds and integrated entitlement management. Management said the acquisition opens new opportunities in a large real-time data market and provides a full-stack solution for displacing entrenched incumbents.
Strong Free Cash Flow Generation
Fiscal 2026 free cash flow was $707 million, an increase of over 14%. Q4 free cash flow was $177 million, roughly in line with the prior-year period.
Substantial Shareholder Returns
FactSet repurchased approximately 552,000 shares for $138 million in Q4. For fiscal 2026, it repurchased approximately $644 million of shares, more than doubling buyback activity and reducing shares outstanding by almost 7%. Total shareholder returns through dividends and repurchases exceeded $800 million, an annual increase of over 75%.
Strong Balance Sheet and Increased Liquidity
Gross debt leverage was 1.5x and net debt leverage was 1.2x. Moody's reaffirmed FactSet's investment-grade rating with a stable outlook. The company increased revolver capacity from $1 billion to $1.5 billion, extended maturity at more favorable pricing and had the facility completely undrawn as of August 31.
Positive Fiscal 2027 Margin and Earnings Outlook
FactSet expects fiscal 2027 organic ASV growth of 5% to 6.5% and reported revenue growth of 5% to 6%, with like-for-like revenue growth approximately 100 basis points higher. Management expects operating margin improvement of between 25 and 75 basis points and EPS growth to improve to the high single digits.
Commercial and Product Execution Capabilities
Management said the unified product organization, strengthened leadership bench, simplified operating structure and FactSet consulting teams are improving product development speed, implementation effectiveness and client adoption across clients with different levels of AI maturity.
MX:FDS Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed