Factset Research Systems (FDS) FY2024 results: revenue $2.2 billion, up 5.6% on the year

Factset Research Systems Inc. (FDS) reported revenue of $2.2 billion for fiscal 2024, the year ended 31 August 2024, up 5.6% on the year before. Net income was $537 million, up 14.7%, and diluted earnings per share $13.91. The figures are the company's own, from the 10-K it filed with the SEC on 29 October 2024.

Revenue

$2.2 billion

+5.6% on the year

FY2017FY2024

Operating margin

31.8%

30.2% a year earlier

FY2017FY2024

Net income

$537 million

+14.7% on the year

FY2017FY2024

Diluted EPS

$13.91

+15.5% on the year

FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	2,203	2,086	1,844	+5.6%
Cost of revenue	1,012	973	871	+4.0%
Gross profit	1,191	1,112	973	+7.1%
Gross margin	54.1%	53.3%	52.8%
Research and development	265	267	255	-0.8%
Selling, general and administrative	490	483	433	+1.4%
Operating income	701	629	475	+11.5%
Operating margin	31.8%	30.2%	25.8%
Interest expense	65.8	66.3	35.7	-0.8%
Pre-tax income	652	584	444	+11.6%
Income tax	114	116	46.7	-1.2%
Effective tax rate	17.6%	19.8%	10.5%
Net income	537	468	397	+14.7%
Net margin	24.4%	22.4%	21.5%
Diluted EPS	$13.91	$12.04	$10.25	+15.5%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2024	FY2023	FY2022	On the year
Operating cash flow	700	646	538	+8.5%
Capital expenditure	85.7	60.8	51.2	+41.0%
Free cash flow	615	585	487	+5.1%
Free cash flow margin	27.9%	28.0%	26.4%
Cash from investing	-144	-95.4	-2,034
Cash from financing	-561	-632	1,339
Depreciation and amortisation	125	105	86.7	+18.8%
Share-based compensation	63.5	62.0	56.0	+2.4%
Buybacks	235	177	18.6	+33.1%
Dividends paid	151	139	126	+8.7%
Diluted shares, weighted	39m	39m	39m	-0.7%
Shares outstanding at period end	38m	38m	38m	-0.2%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	1,912	1,620	1,331	+18.1%
Debt	1,366	1,613	1,982	-15.3%
Operating lease liabilities	178	198	209	-10.5%
Other liabilities	599	532	492	+12.6%
Total liabilities and equity	4,055	3,963	4,014	+2.3%
Fixed assets	82.5	86.1	80.8	-4.2%
Goodwill	1,011	1,005	966	+0.6%
Intangible assets	1,844	1,859	1,896	-0.8%
Investments	69.6	32.2	33.2	+116.1%
Cash and equivalents	423	425	503	-0.6%
Receivables	228	238	204	-4.0%
Other assets	397	318	331	+24.9%
Total assets	4,055	3,963	4,014	+2.3%

10-K for the year ended 31 August 2024, filed 29 October 2024: the filing.