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FactSet Registers 21% Revenue Growth In Q4 Aided By ASV Momentum; Margin Shrinks As Costs Weigh

  • FactSet Research Systems Inc FDS reported fourth-quarter FY22 revenue growth of 21.2% year-on-year to $499.30 million, beating the consensus of $487.81 million.
  • Organic Annual Subscription Value (ASV) plus professional services were $2.0 billion on August 31, compared with $1.7 billion a year ago.
  • Adjusted EPS of $3.13 missed the consensus of $3.20.
  • GAAP operating margin of 26.5% compressed 240 bps Y/Y. Adjusted operating margin contracted 10 bps to 31.5%, driven by higher personnel expenses, increased technology expenses, and transactional foreign currency impact.
  • FactSet generated $136.1 million in free cash flow and held $503.3 million in cash and equivalents.
  • “Once again, we delivered a record year, achieving $2 billion in ASV plus professional services. We continue to build the leading open content and analytics platform, accelerating our organic ASV plus professional services growth to 9.3% in fiscal 2022,” CEO Phil Snow said.
  • Outlook: FactSet sets FY23 revenue of $2.100 billion – $2.115 billion, above the consensus of $2.04 billion.
  • FactSet set an adjusted EPS guidance of $14.50 – $14.90 versus the consensus of $14.76.
  • Price Action: FDS shares closed lower by 2.53% at $430.45 on Wednesday.
  • Photo Via Company

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