FDS 8-K — Smart Summary

FactSet Research Systems reported Q3 fiscal 2025 results (three months ended May 31, 2025) with GAAP revenues up 5.9% YoY to $585.5 million and organic ASV growth of 4.5% YoY to $2,296.9 million. The company reaffirmed its full fiscal year 2025 guidance and announced a CEO transition, with Sanoke Viswanathan succeeding Phil Snow effective early September 2025.

• GAAP revenues: $585.5M, +5.9% YoY ($552.7M prior year); organic revenues: $577.2M, +4.4% YoY
• GAAP operating income: $194.2M, -4.1% YoY; adjusted operating income: $215.3M, -1.2% YoY
• GAAP operating margin: 33.2%, down ~350 bps YoY; adjusted operating margin: 36.8%, down 270 bps YoY
• GAAP net income: $148.5M, -6.1% YoY; adjusted net income: $163.9M, -2.9% YoY
• GAAP diluted EPS: $3.87, -5.4% YoY; adjusted diluted EPS: $4.27, -2.3% YoY
• EBITDA: $235.9M, -1.7% YoY
• Net cash provided by operating activities (Q3): $253.8M, +6.5% YoY; free cash flow (Q3): $228.6M, +5.4% YoY
• Nine-month GAAP revenues: $1,724.8M vs. $1,640.9M prior year; nine-month net income: $443.4M vs. $447.6M prior year
• GAAP effective tax rate: 17.5% vs. 17.0% in Q3 2024

• Americas: ASV $1,513.1M (organic $1,486.0M, +5.0% YoY); Q3 revenues $380.5M vs. $356.5M prior year; organic revenue growth +5.0%
• EMEA: ASV $581.9M (organic $575.2M, +2.1% YoY); Q3 revenues $145.7M vs. $141.2M prior year; organic revenue growth +2.3%
• Asia Pacific: ASV $240.1M (organic $235.7M, +7.1% YoY); Q3 revenues $59.3M vs. $55.0M prior year; organic revenue growth +6.4%
• Buy-side clients: 82% of organic ASV; organic ASV growth rate 4.0% YoY
• Sell-side clients: 18% of organic ASV; organic ASV growth rate 4.0% YoY
• Total organic ASV: $2,296.9M at May 31, 2025, +4.5% YoY; increased $22.6M over the last three months

• Quarterly dividend of $41.6M ($1.10 per share) paid June 18, 2025, a 6% increase from the prior quarter's $1.04 per share; marks 26th consecutive year of dividend increases on a stock split-adjusted basis
• Share repurchases: 184,050 shares repurchased for $80.7M at an average price of $438.45 during Q3 fiscal 2025; nine-month repurchases totaled $193.8M
• $106.2M remained available under the existing repurchase program as of May 31, 2025; Board approved new $400M repurchase authorization on June 17, 2025, available starting September 1, 2025
• New credit agreement entered: $500M term loan (used to repay 2022 credit agreement borrowings) and $1.0B revolving credit facility (undrawn)
• Long-term debt: $1,430.2M at May 31, 2025 vs. $1,241.1M at August 31, 2024; current debt: $0 at May 31, 2025 vs. $124.8M at August 31, 2024
• Cash and cash equivalents: $356.4M at May 31, 2025 vs. $423.0M at August 31, 2024; investments: $7.7M vs. $69.6M at August 31, 2024

• Phil Snow, CEO: 'We are pleased with our third quarter performance, which reflects the execution of our enterprise solution strategy. With a healthy pipeline and increased momentum, we are well-positioned to finish the fiscal year with strength.'
• Helen Shan, CFO: 'As anticipated, the second half in fiscal 2025 is showing improved results, with third quarter organic ASV growth accelerating as we meet client demands and execute diligently. At the same time, we remain focused on investing in our strategic priorities and are reaffirming our fiscal 2025 guidance to achieve our full year targets.'

• Organic ASV growth expected in the range of $100M to $130M during fiscal 2025
• GAAP revenues expected in the range of $2,305M to $2,325M
• GAAP operating margin expected in the range of 32.0% to 33.0%
• Adjusted operating margin expected in the range of 36.0% to 37.0%
• Annual effective tax rate expected in the range of 17% to 18%
• GAAP diluted EPS expected in the range of $14.80 to $15.40
• Adjusted diluted EPS expected in the range of $16.80 to $17.40
• Guidance reaffirmed as originally provided on March 20, 2025; no update planned prior to next quarterly announcement