FACTSET RESEARCH SYSTEMS INC（FDS）の決算・業績分析
FACTSET RESEARCH SYSTEMS INCの2025年有価証券報告書をAI分析。売上高$2.3B(+5.4%)。営業利益$748M。Information Technology。
目次
FACTSET RESEARCH SYSTEMS INCの2025年度 業績サマリー
FACTSET RESEARCH SYSTEMS INC（証券コード: FDS）の2025年度決算・業績分析。売上高は$2.3B（前年比+5.4%）。営業利益は$748M（前年比+6.7%）。純利益は$597M（前年比+11.2%）。有価証券報告書を基に、業績変化の要因・リスク・見通し・セグメント構成を AI が分析しました。
FACTSET RESEARCH SYSTEMS INCの2024年度 注目ポイント
※ 直近の2025年度XBRLデータは取込済みですが、AI分析は2024年度の10-Kを対象としています。
- Revenue grew 15.9% YoY to $1.8B (XBRL), but net income declined 0.7% to $397M (XBRL).
- Operating margin remained strong at 25.8% (XBRL), though free cash flow turned negative at $-1.5B (XBRL).
- Debt-to-equity ratio of 2.31x (XBRL) highlights leverage, while ROE of 39.0% (XBRL) reflects strong returns.
FACTSET RESEARCH SYSTEMS INCの売上高変化の要因
- •Revenue increased 15.9% YoY to $1.8B (XBRL), with a 5-year CAGR of 9.1% (XBRL). Historical growth shows steady expansion from $1.4B (FY2020) to $2.1B (FY2025) (XBRL). Operating income rose 0.3% YoY to $475M (XBRL), while net income declined 0.7% YoY to $397M (XBRL). Regional revenue distribution remains concentrated in the Americas (64%) (10-K), though Asia Pacific growth is implied by the 10% segment share (10-K).
FACTSET RESEARCH SYSTEMS INCの営業利益変化の要因
- •Operating margin held at 25.8% (XBRL), with EBITDA of $562M (30.5% of revenue) (XBRL). Net margin declined slightly to 21.5% (XBRL), reflecting a 0.7% YoY drop in net income (XBRL). Operating income grew 0.3% YoY (XBRL), but net income fell due to non-operating factors (N/A). ROA of 10.0% (XBRL) and ROIC of 7.4% (XBRL) indicate moderate asset and capital efficiency.
FACTSET RESEARCH SYSTEMS INCの事業リスクと対応
Technology and data security risks, including potential breaches, unauthorized access, or loss of sensitive information, could harm reputation, lead to litigation, and result in client loss (10-K).
Cybersecurity threats from sophisticated attacks and third-party vendor vulnerabilities pose ongoing risks (10-K).
Regulatory compliance challenges with evolving data protection laws (e.g., GDPR, CCPA, China's PIPL, India's DPDP Act) could increase operational complexity and costs (10-K).
No new risk factors were added for FY2024, but existing risks remain unquantified (10-K).
FACTSET RESEARCH SYSTEMS INCの事業内容
FactSet Research Systems Inc (FDS) operates a global financial digital platform and enterprise solutions business, generating revenue primarily through subscriptions to multi-asset class data, analytics, and solutions (10-K). Key products include workstations, portfolio analytics, enterprise data solutions, and managed services (10-K). The company serves over 8,200 clients across institutional asset managers, bankers, wealth managers, hedge funds, and corporate users (10-K), with no significant customer concentration (N/A). Reportable segments are Americas (64% revenue), EMEA (26%), and Asia Pacific (10%) (10-K). Competitive advantages include open/flexible technologies, deep client workflow understanding, and comprehensive solutions spanning the investment lifecycle (10-K).
FACTSET RESEARCH SYSTEMS INCのAI業績分析レポート（2024年度）
FactSet Research Systems Inc (FDS) FY2024 Annual Report Analysis
Highlights
Business Overview
FactSet provides a global financial digital platform and enterprise solutions, generating revenue through subscriptions to multi-asset class data, analytics, and solutions (10-K). Key products include workstations, portfolio analytics, enterprise data solutions, and managed services (10-K). The company serves over 8,200 clients across institutional asset managers, bankers, wealth managers, hedge funds, and corporate users (10-K), with no significant customer concentration (N/A). Reportable segments are Americas (64% revenue), EMEA (26%), and Asia Pacific (10%) (10-K). Competitive advantages include open/flexible technologies, deep client workflow understanding, and comprehensive solutions spanning the investment lifecycle (10-K).
Revenue Analysis
Revenue increased 15.9% YoY to $1.8B (XBRL), with a 5-year CAGR of 9.1% (XBRL). Historical growth shows steady expansion from $1.4B (FY2020) to $2.1B (FY2025) (XBRL). Operating income rose 0.3% YoY to $475M (XBRL), while net income declined 0.7% YoY to $397M (XBRL). Regional revenue distribution remains concentrated in the Americas (64%) (10-K), though Asia Pacific growth is implied by the 10% segment share (10-K).
Profitability Analysis
Operating margin held at 25.8% (XBRL), with EBITDA of $562M (30.5% of revenue) (XBRL). Net margin declined slightly to 21.5% (XBRL), reflecting a 0.7% YoY drop in net income (XBRL). Operating income grew 0.3% YoY (XBRL), but net income fell due to non-operating factors (N/A). ROA of 10.0% (XBRL) and ROIC of 7.4% (XBRL) indicate moderate asset and capital efficiency.
Balance Sheet Analysis
Total assets grew to $4.0B (XBRL), with equity increasing to $1.0B (XBRL) and long-term debt at $1.6B (XBRL). Net debt of $1.2B (2.1x EBITDA) (XBRL) highlights leverage. Current ratio of 1.59x (XBRL) suggests adequate liquidity, while cash reserves of $425M (XBRL) provide short-term flexibility. Equity ratio of 25.6% (XBRL) indicates moderate financial leverage.
Cash Flow Analysis
Operating cash flow of $538M (XBRL) was offset by heavy investing cash outflows of $-2.0B (XBRL), resulting in negative free cash flow of $-1.5B (XBRL). Financing activities generated $1.3B (XBRL), including $126M in dividends (XBRL) and $19M in share repurchases (XBRL). Depreciation and amortization totaled $87M (XBRL).
Working Capital Analysis
Receivables days stood at 47 days (XBRL). Asset turnover of 0.47x (XBRL) indicates moderate efficiency. Days sales outstanding (DSO) and days payables outstanding (DPO) are not disclosed (N/A).
Risks
Outlook
N/A — Management guidance and forward-looking trends are not explicitly mentioned in the 10-K or XBRL data.
Historical Time Series
| Metric | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | 1.4B | 1.4B | 1.5B | 1.6B | 1.8B | 2.1B |
| Operating Income | 366M | 438M | 440M | 474M | 475M | 629M |
| Net Income | 267M | 353M | 373M | 400M | 397M | 468M |
| Total Assets | 1.6B | 2.1B | 2.2B | 4.0B | 4.0B | 4.0B |
| Total Equity | 560M | 526M | 672M | 896M | 1.0B | 1.3B |
| Operating Cash Flow | 386M | 427M | 506M | 555M | 538M | 646M |
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