FactSet (FDS) Reports 4.9% Revenue Growth

By Bobby Samwell • Thursday, September 19 08:02 • Permanent Link

FactSet (NYSE:FDS) has released its fourth-quarter fiscal 2024 results, showing a 4.9% increase in GAAP revenues to $562.2 million compared to the same period in 2023. Organic revenues also grew by 5.0% year over year to $562.8 million.

The company's annual subscription value (ASV) plus professional services was $2,276.0 million at the end of August 2024, up from $2,174.6 million in August 2023, representing a 4.8% increase. Over the last three months, organic ASV plus professional services increased by $53.5 million.

FactSet's GAAP operating margin rose to 22.7%, up from 21.7% in the prior year period, while adjusted operating margin improved to 35.8%, up from 33.4%.

The company reported a 38.1% increase in GAAP diluted earnings per share (EPS) to $2.32 compared to the same period in fiscal 2023. Adjusted diluted EPS also increased by 23.8% to $3.74.

Looking ahead to fiscal 2025, FactSet provided guidance with expected organic ASV growth of 4% * 6%, GAAP revenues in the range of $2,285 to $2,305 million, adjusted operating margin in the range of 36% * 37%, and adjusted diluted EPS in the range of $16.80 * $17.40.

For the full fiscal year 2024, FactSet saw a 5.6% increase in GAAP revenues to $2.20 billion, with a 5.7% organic growth rate. The GAAP operating margin increased to 31.8% compared to the prior year, while adjusted operating margin improved to 37.8%. GAAP diluted EPS increased by 15.5% to $13.91, and adjusted diluted EPS increased by 12.3% to $16.45.

FactSet returned $385.9 million to shareholders in the form of share repurchases and dividends during fiscal 2024, representing a return of 55% as a percentage of free cash flow and proceeds from employee stock plans.

Moreover, the company announced an investor day scheduled for November 14, 2024, and the appointment of Kristina Karnovsky as Executive Vice President and Head of the Dealmakers and Wealth Group.

FactSet also revealed that it repurchased 153,650 shares of its common stock for $63.3 million during the fourth quarter of fiscal 2024, and the board of directors approved a new share repurchase authorization of up to $300 million for fiscal 2025.

Following these announcements, the company's shares moved -0.3%, and are now trading at a price of $446.81. If you want to know more, read the company's complete 8-K report here.

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