FactSet (FDS) Investor Day 2024 summary

Strategic priorities and business evolution

• Focus on driving top-line growth through AI-powered innovation, enterprise solutions, and cross-selling across a diversified client base, with a shift from desktop to enterprise and data-driven offerings.

• Expansion into technology budgets and partnerships with CTOs, leveraging cloud, APIs, and GenAI to address client needs and unlock new market opportunities.

• Diversification of client base, with significant growth in Wealth and Dealmakers segments, and a strong presence in Buy-Side, Banking, and global markets.

• Emphasis on being an open ecosystem partner, enabling integration with client and third-party platforms and supporting a flexible, multi-cloud approach.

• Ongoing investments in data, technology, and workflow solutions to support multi-asset class coverage, private markets, and scalable growth.

Product innovation and technology advancements

• Quadrupled data assets and launched conversational AI platforms, including FactSet Mercury, alongside API-first and GenAI-powered workflow solutions.

• Developed modular, API-enabled products for client customization, including Conversational API and Managed Services, supporting both out-of-the-box and tailored deployments.

• Enhanced data integration and delivery, moving from fragmented datasets to a unified data layer, enabling advanced analytics and automation.

• Leveraged AI and machine learning for data extraction, tagging, and curation, improving efficiency and product capabilities.

• Focused on client-centric development, co-creating solutions with clients through advisory boards and beta programs.

Financial performance and guidance

• Achieved 44 consecutive years of revenue growth and 28 years of adjusted diluted EPS growth, with a 15.1% annualized total shareholder return over the past decade.

• ASV (Annual Subscription Value) now over $2.3 billion, with enterprise solutions comprising nearly half of ASV, up from 35% a decade ago.

• Fiscal 2025 guidance reaffirmed: organic ASV $90M–$140M, GAAP revenue $2,285M–$2,305M, adjusted operating margin 36%-37%, and adjusted diluted EPS $16.80–$17.40.

• Medium-term organic ASV growth targeted at mid- to high-single digits, with margin guidance of 37%-38% and EPS growth in the high-single to low-double digits by FY28.

• Highly recurring, 99%+ subscription-based revenue model, strong free cash flow, and disciplined capital allocation, with $1.5B returned to shareholders over five years.