FACTSET RESEARCH SYSTEMS INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data FACTSET RESEARCH SYSTEMS INC files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	1,221	1,350	1,435	1,494	1,591	1,844	2,086	2,203	2,322	2,476
Cost of revenue	567	659	663	695	786	871	973	1,012	1,098	1,223
Gross profit	655	691	772	799	805	973	1,112	1,191	1,224	1,253
Research and development	215	217	215	224	250	255	267	265	301	346
Selling, general and administrative	302	325	334	343	331	433	483	490	476	553
Operating expenses	869	984
Operating income	352	366	438	440	474	475	629	701	748	700
Interest expense	8.4	15.9	19.8	12.9	8.07	35.7	66.3	65.8	56.3	54.7
Interest income					1.81	6.18	12.8	14.4	6.53	4.06
Other non-operating income	-7.82	-14.4	-16.1	-12.5	-6.42	-31.9	-45.3	-49.8	-27.3	-50.2
Pre-tax income	344	352	422	427	468	444	584	652	721	650
Income tax	86.1	84.8	69.2	54.2	68	46.7	116	114	124	116
Net income	258	267	353	373	400	397	468	537	597	533
EBITDA	400	423	498	497	539	562	735	826	906	881
EPS, basic	6.55	6.90	9.25	9.83	10.56	10.48	12.26	14.11	15.74	14.63
EPS, diluted	6.51	6.78	9.08	9.65	10.36	10.25	12.04	13.91	15.55	14.57
Shares, basic (weighted)	39.4	38.7	38.1	37.9	37.9	37.9	38.2	38.1	37.9	36.5
Shares, diluted (weighted)	39.6	39.4	38.9	38.6	38.6	38.7	38.9	38.6	38.4	36.6

Balance sheet

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	195	209	360	586	682	503	425	423	338	233
Short-term investments	32.4	29.3	25.8	19.6	36	33.2	32.2	69.6	17.4	32
Receivables	148	157	146	155	151	204	238	228	271	299
Other current assets	24.1	30.1	36.9	43.7	50.6	91.2	50.6	60.1	70.4
Total current assets	409	431	584	842	934	870	770	836	730	652
Property, plant and equipment	100	101	119	133	131	80.8	86.1	82.5	85.2	79.2
Lease right-of-use assets			0	249	239	159	142	130	122	113
Goodwill	708	702	686	710	754	966	1,005	1,011	1,285	1,283
Intangible assets	174	149	124	121	135	1,896	1,859	1,844	1,916	1,850
Other non-current assets	15	27.5	39.2	28.6	29.5	38.7	73.7	89.6	105	88.5
Total assets	1,413	1,419	1,560	2,083	2,225	4,014	3,963	4,055	4,304	4,140
Accounts payable	59.2	72.1	79.6	82.1	85.8	108	122	178	135	136
Accrued liabilities	61.1	66.5	64.2	81.9	104	115	113	93.3	131	192
Deferred revenue	47.5	49.7	47.7	54	63.1	152	152	160	168	181
Short-term debt							0	125	0	499
Total current liabilities	201	221	219	276	316	438	484	667	521	1,090
Long-term debt					575	1,982	1,613	1,241	1,368	871
Lease liabilities			0	272	260	209	198	178	157	138
Other non-current liabilities	37.2	39	42	7.33	4.94	3.34	6.84	6.61	11.2	3.15
Total liabilities	854	894	888	1,187	1,209	2,683	2,343	2,143	2,118	2,138
Total debt	575	575	574	574	575	1,982	1,613	1,366	1,368	1,370
Paid-in capital	742	668	807	939	1,048	1,190	1,324	1,479	1,622	1,739
Retained earnings	1,459	123	373	633	913	1,180	1,505	1,889	2,323	2,693
Treasury stock	-1,607	-213	-434	-637	-906	-931	-1,122	-1,376	-1,695	-2,352
Other comprehensive income	-34.7	-51.4	-74.5	-39.3	-39	-108	-87.1	-79.6	-63.7	-78.5
Shareholders' equity	560	526	672	896	1,016	1,331	1,620	1,912	2,186	2,002
Total equity	560	526	672	896	1,016	1,331	1,620	1,912	2,186	2,002
Total liabilities and equity	1,413	1,419	1,560	2,083	2,225	4,014	3,963	4,055	4,304	4,140
Shares outstanding	39	38.2	38.1	38	37.6	38	38	38	37.6	35.3

Cash flow statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	258	267	353	373	400	397	468	537	597	533
Depreciation and amortization	48.3	57.3	60.5	57.6	64.5	86.7	105	125	158	181
Stock-based compensation	34.2	31.5	32.4	36.6	45.1	56	62	63.5	61.2	84.1
Deferred income tax	4.88	-1.91	-2.28	10.6	-4.6	-8.72	-31.1	-32	-3.55	-14.3
Change in receivables	-29.5	-8.42	10.2	-8.61	3.65	-33	-40.1	2.2	-42.5	-34.6
Change in payables	-2.23	12.1	-2.29	12.4	2.07	12.8	8.39	55.3	-59.4	-4.41
Cash from operations	321	386	427	506	555	538	646	700	726	822
Capital expenditures	-36.9	-33.5	-59.4	-77.6	-61.3	-51.2	-60.8	-85.7	-109	-115
Acquisitions	-303	-15	0	0	-58.1	-1,982	-23.6	0	-348	0
Purchases of investments	-30.8	-12.5	-11.1	-2.74	-18.8	-0.88	-11	-58.6	-18.9	-53.8
Sales and maturities of investments			14.4	6.75	2.18	0	0	0	58.2	36.1
Cash from investing	-347	-48.5	-56.1	-73.6	-136	-2,034	-95.4	-144	-393	-133
Debt issued	640	0	575	0	0	2,238	0	0	803	241
Debt repaid	-365	0	-575	0	0	-825	-375	-250	-805	-243
Share buybacks	-261	-304	-220	-200	-265	-18.6	-177	-235	-300	-644
Dividends paid	-80.9	-89.4	-100	-110	-118	-126	-139	-151	-160	-164
Cash from financing	-8.16	-320	-214	-218	-323	1,339	-632	-561	-408	-799
Exchange rate effect	1.26	-3.21	-5.59	11.7	-0.26	-22.4	4.02	2.36	3.05	-2.31
Net change in cash	-33.7	13.9	151	226	96.3	-179	-77.8	-2.47	-71.3	-112
Free cash flow	284	352	368	428	494	487	585	615	617	707
Interest paid	8.47	15.7	19.5	12.9	8.02	29.5	76.5	65.9	54.8	51.8
Income taxes paid	74.8	68.7	90	69.1	46.6	76.3	91.2	157	103	123

Key metrics

Worked out from the statements above. Latest values use fiscal 2026. Valuation uses the share price of $325.98 on November 10, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	50.6%	Gross profit / revenue.
Operating margin	28.3%	Operating income / revenue.
EBITDA margin	35.6%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	26.2%	Pre-tax income / revenue.
Net margin	21.5%	Net income / revenue.
FCF margin	28.6%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	33.2%	Cash from operations / revenue.
Effective tax rate	17.9%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	25.5%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	12.6%	Net income / average total assets.
Return on invested capital (ROIC)	18.1%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	14.0%	Research and development expense / revenue.
SG&A / revenue	22.3%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	3.4%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	4.6%	Capital expenditures / revenue.
D&A / revenue	7.3%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	6.7%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	5.9%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	9.2%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	2.4%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	4.1%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	9.3%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-6.5%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	3.6%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	8.1%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-2.8%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	6.2%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	10.3%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-10.6%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	4.4%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	5.9%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-6.3%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	6.6%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	7.1%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	13.2%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	8.4%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	8.2%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	14.6%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	6.6%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	7.5%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-8.4%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	7.3%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	14.5%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-3.8%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	1.5%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	13.2%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-4.6%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-2.0%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-1.0%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	0.60x	Current assets / current liabilities.
Quick ratio	0.52x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.24x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.68x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	33.1%	Total debt / total assets.
Liabilities / assets	51.6%	Total liabilities / total assets.
Net debt	$1.10B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	1.25x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	12.8x	Operating income / interest expense.
Working capital	-$437.6M	Current assets - current liabilities.
Goodwill and intangibles / assets	75.7%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$1.13B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.59x	Revenue / average total assets.
Fixed asset turnover	30.1x	Revenue / average property, plant and equipment.
Receivables turnover	8.70x	Revenue / average receivables.
Days sales outstanding	42 days	365 x average receivables / revenue.
Days payables	40 days	365 x average accounts payable / cost of revenue.
FCF conversion	132.6%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	14.0%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$14.57	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic	$14.63	Net income per basic share, as reported (split-adjusted).
Revenue per share	$67.64	Revenue / diluted weighted shares.
FCF per share	$19.32	Free cash flow / diluted weighted shares.
Operating cash flow per share	$22.46	Cash from operations / diluted weighted shares.
Book value per share	$56.78	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$32.07	Tangible book value / shares outstanding.
Cash per share	$7.53	(Cash + short-term investments) / shares outstanding.
Payout ratio	30.8%	Dividends paid / net income, when net income is positive.
Dividends / FCF	23.2%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	91.0%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$11.59B	Share price x shares outstanding.
Enterprise value	$12.70B	Market cap + total debt - cash - short-term investments.
P/E	21.7x	Market cap / net income. Only when net income is positive.
P/S	4.68x	Market cap / revenue.
P/B	5.79x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	16.4x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	14.1x	Market cap / cash from operations, when positive.
EV/Sales	5.13x	Enterprise value / revenue.
EV/EBIT	18.1x	Enterprise value / operating income, when both are positive.
EV/EBITDA	14.4x	Enterprise value / EBITDA, when both are positive.
EV/FCF	17.9x	Enterprise value / free cash flow, when both are positive.
FCF yield	6.1%	Free cash flow / market cap.
Earnings yield	4.6%	Net income / market cap (the inverse of P/E).
Dividend yield	1.4%	Dividends paid over the period / market cap.
Shareholder yield	7.0%	(Dividends paid + share buybacks) / market cap.
PEG	3.31x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was FACTSET RESEARCH SYSTEMS INC's revenue in fiscal 2026?

FACTSET RESEARCH SYSTEMS INC reported revenue of $2.48B for fiscal 2026, 6.7% higher than the year before.

Was FACTSET RESEARCH SYSTEMS INC profitable in fiscal 2026?

Yes. Net income was $533.5M, a net margin of 21.5%.

How much free cash flow did FACTSET RESEARCH SYSTEMS INC generate in fiscal 2026?

Cash from operations of $822.2M minus capital expenditures of $114.7M left free cash flow of $707.5M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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