FactSet Reports Results for Second Quarter 2025

Core Insights - FactSet reported a solid financial performance for Q2 fiscal 2025, with GAAP revenues of $570.7 million, reflecting a 4.5% increase year-over-year. Organic revenues grew by 4.0% to $568.0 million, driven primarily by wealth and institutional buy-side clients [4][5][6]. Financial Performance - Q2 GAAP operating margin was 32.5%, down approximately 80 basis points from the previous year, while adjusted operating margin decreased to 37.3%, down 100 basis points year-over-year [4][5]. - GAAP diluted EPS increased by 3.0% to $3.76, and adjusted diluted EPS rose by 1.4% to $4.28 compared to the same period last year [4][5]. - Free cash flow for Q2 was $150.2 million, a 23.3% increase from $121.9 million in the prior year [4][5][38]. Annual Subscription Value (ASV) - ASV reached $2,306.1 million as of February 28, 2025, up from $2,185.6 million a year earlier, with organic ASV growing by 4.1% to $2,276.2 million [6][7]. - The buy-side organic ASV growth rate was 4.1%, while sell-side growth was 2.2% [7]. Segment Performance - ASV from the Americas was $1,501.1 million, with organic ASV increasing by 4.4% to $1,474.9 million. Revenues from the Americas rose to $369.7 million [8]. - ASV from EMEA was $571.3 million, with organic ASV increasing by 2.6% to $571.4 million. EMEA revenues were $143.4 million [9]. - ASV from Asia Pacific was $233.7 million, with organic ASV increasing by 6.8% to $229.9 million. Asia Pacific revenues were $57.6 million [10]. Client and User Metrics - The client count as of February 28, 2025, was 8,645, reflecting a net increase of 396 clients in the past three months [11]. - The user count was 219,141, with a net increase of 874 users, primarily driven by growth in wealth management users [11]. Share Repurchase and Dividends - FactSet repurchased 136,714 shares for $64.4 million at an average price of $470.70 during Q2, with $186.9 million remaining for future repurchases [12]. - A quarterly dividend of $39.5 million, or $1.04 per share, was declared [16]. Business Outlook - The company reaffirmed its guidance for fiscal 2025, expecting organic ASV growth of $100 million to $130 million and GAAP revenues in the range of $2,305 million to $2,325 million [17][37].