FDS 8-K — Smart Summary

FactSet Research Systems reported Q4 and full fiscal year 2025 results for the period ended August 31, 2025. GAAP revenues grew 6.2% in Q4 and 5.4% for the full year, with Organic ASV up 5.7% year over year to $2,370.9 million. The filing also discloses a board director resignation, bylaw amendments related to director election voting standards, and fiscal 2026 guidance.

• Q4 GAAP revenues: $596.9 million, +6.2% YoY; FY2025 GAAP revenues: $2,321.7 million, +5.4% YoY
• Q4 organic revenues: $587.3 million, +4.5% YoY; FY2025 organic revenues: $2,300.2 million, +4.4% YoY
• Q4 GAAP operating income: $177.3 million, +38.7% YoY; FY2025 GAAP operating income: $748.3 million, +6.7% YoY
• Q4 adjusted operating income: $201.7 million, +0.1% YoY; FY2025 adjusted operating income: $843.4 million, +1.3% YoY
• Q4 GAAP operating margin: 29.7%, +700 bps YoY; Q4 adjusted operating margin: 33.8%, -200 bps YoY; FY2025 GAAP operating margin: 32.2%, +40 bps YoY; FY2025 adjusted operating margin: 36.3%, -150 bps YoY
• Q4 GAAP net income: $153.6 million, +71.6% YoY; FY2025 GAAP net income: $597.0 million, +11.2% YoY
• Q4 GAAP diluted EPS: $4.03, +73.7% YoY; Q4 adjusted diluted EPS: $4.05, +8.3% YoY; FY2025 GAAP diluted EPS: $15.55, +11.8% YoY; FY2025 adjusted diluted EPS: $16.98, +3.2% YoY
• FY2025 adjusted EBITDA: $934.97 million, +10.3% YoY
• Q4 net cash from operations: $212.1 million, +30.0% YoY; FY2025 net cash from operations: $726.3 million, +3.7% YoY
• Q4 free cash flow: $178.1 million, +29.8% YoY; FY2025 free cash flow: $617.5 million, +0.5% YoY

• Americas Q4 revenues: $388.7 million vs. $362.5 million in Q4 2024; organic revenue growth +5.3% YoY; Organic ASV: $1,541.9 million, +6.0% YoY
• EMEA Q4 revenues: $147.4 million vs. $143.1 million in Q4 2024; organic revenue growth +1.7% YoY; Organic ASV: $586.3 million, +4.2% YoY
• Asia Pacific Q4 revenues: $60.8 million vs. $56.6 million in Q4 2024; organic revenue growth +5.9% YoY; Organic ASV: $242.7 million, +7.2% YoY
• Buy-side clients: 82% of organic ASV; organic ASV growth rate 5.5% as of August 31, 2025
• Sell-side clients: 18% of organic ASV; organic ASV growth rate 4.3% as of August 31, 2025

• Cash and cash equivalents: $337.7 million at August 31, 2025, down from $423.0 million at August 31, 2024
• Long-term debt: $1,368.3 million at August 31, 2025, up from $1,241.1 million at August 31, 2024; current debt reduced to $0 from $124.8 million
• Q4 share repurchases: 259,721 shares at average price of $410.51 for total of $106.6 million; FY2025 total repurchases: $300.5 million
• FY2025 dividend payments: $160.0 million; quarterly dividend increased 6% to $1.10 per share in May 2025, marking 26th consecutive annual increase
• Total capital returned to stockholders in FY2025: $460.4 million (repurchases + dividends)
• New $400 million share repurchase authorization effective September 1, 2025, approved by Board on June 17, 2025

• "FactSet's strong fourth quarter performance reflects the power of our differentiated data, open platform, and client-centric culture. We are at a strategic inflection point, where AI and data-driven innovation are reshaping workflows across financial markets. FactSet has the talent, technology, and data capabilities to lead this transformation." — Sanoke Viswanathan, CEO
• "FactSet finished fiscal 2025 from a position of strength, with continued growth and operating discipline. Looking ahead to fiscal 2026, we remain focused on balancing investments with disciplined execution to drive durable, long-term stockholder value." — Helen Shan, CFO

• FY2026 organic ASV growth expected in range of $100 million to $150 million
• FY2026 GAAP revenues expected in range of $2,423 million to $2,448 million
• FY2026 GAAP operating margin expected in range of 29.5% to 31.0%; adjusted operating margin 34.0% to 35.5%
• FY2026 GAAP diluted EPS expected in range of $14.55 to $15.25; adjusted diluted EPS $16.90 to $17.60
• FY2026 annual effective tax rate expected in range of 18% to 19%

• Chief Executive Officer and Board Member Sanoke Viswanathan — Assumed role as CEO and member of the Board on September 8, 2025; no further appointment details disclosed in the Item 5.02 text.

• Director James J. McGonigle — Resigned from the Board of Directors effective close of business December 1, 2025; has served on the Board since 2002; resignation was not due to any disagreement with FactSet, its Board, or management on any matter relating to the Company's operations, policies, or practices.
• Board Chair Robin Abrams — Stepped down as Board Chair effective September 17, 2025 (succeeded by Malcolm Frank); will remain on the Board as a director.

• Board Chair Malcolm Frank — Elected as Board Chair effective September 17, 2025; succeeds Robin Abrams in that role; no additional committee or background details disclosed in the Item 5.02 text.

• James J. McGonigle submitted his resignation as a director of FactSet Research Systems Inc. to the Board of Directors on September 16, 2025, effective at the close of business on December 1, 2025
• Mr. McGonigle has served on the Board since 2002
• The resignation was not due to any disagreement with FactSet, its Board, or management on any matter relating to the Company's operations, policies, or practices

• On September 16, 2025, FactSet's Board amended and restated the Company's Amended and Restated By-Laws, effective immediately
• Amendment clarifies and enhances procedural mechanics for the existing majority voting standard for director elections in uncontested elections; any incumbent director nominee failing to receive the requisite majority vote will continue as a holdover director and must submit an irrevocable offer of resignation within 90 days for consideration by the Nominating and Corporate Governance Committee
• Amendment implements a plurality voting standard carve-out for contested director elections