FactSet (FDS) Investor Day 2024 summary

Strategic priorities and business transformation

• Focus on AI-driven innovation, enterprise solutions, and cross-selling across diversified client segments including Wealth, Buy-Side, and Dealmakers, with an emphasis on open ecosystem, API-first development, and workflow integration.

• Expansion into technology budgets, enterprise-level sales, and adjacent markets, targeting a $40B+ addressable market and leveraging CTO/CDO-led purchasing.

• Continued investment in AI, cloud, and data infrastructure to accelerate product development, client efficiency, and support scalable growth.

• Diversification of revenue streams from desktop to enterprise and managed services, now representing nearly half of ASV, and expansion into business development and analytics for Wealth clients.

• Operating discipline maintained through organic investment, capital returns, and strategic M&A aligned with growth priorities.

Product innovation and technology advancements

• Launch of FactSet Mercury, a conversational AI platform, and Conversational API to power client and internal chatbots.

• Significant enhancements in data integration, enabling a single data layer for GenAI and advanced analytics, and expansion of modular, API-enabled components.

• Introduction of next-gen workflow tools like Pitch Creator for bankers and PM Hub for portfolio managers, leveraging GenAI for efficiency.

• Ongoing investments in deep sector content, private market data, real-time feeds, and cloud-native delivery to differentiate offerings.

• Usage-based and subscription-plus-consumption pricing models introduced for new GenAI and API products.

Financial performance and guidance

• Achieved 44 consecutive years of revenue growth and 28 years of adjusted diluted EPS growth, with ASV surpassing $2.3 billion and a highly recurring, 99%+ subscription-based revenue model.

• Fiscal 2025 guidance: organic ASV growth of 4%-6%, GAAP revenue $2,285M–$2,305M, adjusted operating margin 36%-37%, and adjusted diluted EPS $16.80–$17.40.

• Medium-term outlook through FY28: organic ASV growth mid- to high-single digits, adjusted operating margin 37%-38%, and adjusted diluted EPS growth high single to low double digits.

• Wealth business targets low double-digit ASV growth through FY28, Dealmakers segment aims for high single-digit growth, and Buy-Side targets mid-single-digit ASV growth.

• Strong free cash flow, disciplined capital allocation, and $1.5B returned to shareholders over five years, with commitment to investment-grade credit ratings.