FactSet Research Systems Inc. Files 2024 10-K

TL;DR

FactSet filed its 2024 10-K. All systems go.

AI Summary

FactSet Research Systems Inc. filed its 2024 10-K report for the fiscal year ending August 31, 2024. The company, headquartered at 45 Glover Avenue, Norwalk, CT, operates in the computer programming and data processing services sector. The filing covers financial data and business operations for the period, with the report being filed on October 29, 2024.

Why It Matters

This 10-K filing provides investors and analysts with a comprehensive overview of FactSet's financial performance and business operations for the fiscal year 2024, enabling informed investment decisions.

Risk Assessment

Risk Level: low — The filing is a standard annual report and does not indicate any immediate or unusual risks.

Key Players & Entities

• FactSet Research Systems Inc. (company) — Filer of the 10-K report
• 45 Glover Avenue, Norwalk, CT (location) — Company's business and mailing address
• 2024-08-31 (date) — Fiscal year end
• 2024-10-29 (date) — Filing date of the 10-K

FAQ

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 Par Value FDS New York Stock Exchange L
• $10,000 — ient count includes clients with ASV of $10,000 and above. For the year ended August 31

Filing Documents

• fds-20240831.htm (10-K) — 2309KB
• fds-20240831xexx19.htm (EX-19) — 255KB
• fds-202408x31xexx21.htm (EX-21) — 26KB
• fds-202408x31xexx23.htm (EX-23) — 2KB
• fds-20240831xexx311.htm (EX-31.1) — 10KB
• fds-20240831xexx312.htm (EX-31.2) — 10KB
• fds-20240831xexx321.htm (EX-32.1) — 4KB
• fds-20240831xexx322.htm (EX-32.2) — 4KB
• fds-20240831_g1.jpg (GRAPHIC) — 575KB
• fds-20240831_g2.jpg (GRAPHIC) — 233KB
• 0001013237-24-000141.txt ( ) — 14178KB
• fds-20240831.xsd (EX-101.SCH) — 60KB
• fds-20240831_cal.xml (EX-101.CAL) — 109KB
• fds-20240831_def.xml (EX-101.DEF) — 387KB
• fds-20240831_lab.xml (EX-101.LAB) — 873KB
• fds-20240831_pre.xml (EX-101.PRE) — 684KB
• fds-20240831_htm.xml (XML) — 2037KB

Business

Business 5 I tem 1A.

Risk Factors

Risk Factors 13 I tem 1B. Unresolved Staff Comments 22 I tem 1C . Cybersecurity 22 I tem 2.

Properties

Properties 24 I tem 3.

Legal Proceedings

Legal Proceedings 25 I tem 4. Mine Safety Disclosures 25 PART II I tem 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 26 I tem 6. Reserved 27 I tem 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 28 I tem 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 46 I tem 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 48 I tem 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 94 I tem 9A.

Controls and Procedures

Controls and Procedures 94 I tem 9B. Other Information 95 PART III I tem 10. Directors, Executive Officers and Corporate Governance 96 I tem 11.

Executive Compensation

Executive Compensation 96 I tem 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 96 I tem 13. Certain Relationships and Related Transactions, and Director Independence 96 I tem 14. Principal Accounting Fees and Services 97 PART IV I tem 15. Exhibits, Financial Statement Schedules 98 I tem 16. Form 10-K Summary 100

SIGNATURES

SIGNATURES 101 3 Table of Contents Special Note Regarding Forward-Looking Statements FactSet Research Systems Inc. has made statements under the captions Part I, Item 1. Business, Part I, Item 1A. Risk Factors, Part II, Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations and in other sections of this Annual Report on Form 10-K that are forward-looking statements. In some cases, you can identify these statements by words such as "may," "might," "will," "should," "expects," "plans," "anticipates," "believes," "estimates," "intends," "projects," "indicates," "predicts," "potential," or "continue," and similar expressions. These forward-looking statements, which are subject to risks, uncertainties and assumptions about us, may include projections of our future financial performance and anticipated trends in our business. These statements are only predictions based on our current expectations, estimates, forecasts and projections about future events. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. There are many important factors that could cause our actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements, including the numerous factors discussed under Item 1A. Risk Factors in this Annual Report on Form 10-K, that should be specifically considered. Although we believe the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, level of activity, performance or achievements. Moreover, neither we nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. Forward-looking statements speak only as of the date they are made, and actual results could differ materially from those anticipated in for

BUSINESS

ITEM 1. BUSINESS Corporate History FactSet Research Systems Inc. and its wholly-owned subsidiaries (collectively, "we," "our," "us," the "Company" or "FactSet") was founded in 1978 and has been publicly traded since June 1996. We are dual-listed on the New York Stock Exchange ("NYSE") and the NASDAQ Stock Market ("NASDAQ") under the symbol "FDS". FactSet has been a member of the S&P 500 since December 2021. Business Overview FactSet is a global financial digital platform and enterprise solutions provider with open and flexible technologies that aims to supercharge financial intelligence. Our platform delivers expansive data, sophisticated analytics, and flexible technology used by global financial professionals to power their critical investment workflows. As of August 31, 2024, we had more than 8,200 clients comprised of over 216,000 investment professionals, including institutional asset managers, bankers, wealth managers, asset owners, partners, hedge funds, corporate users, and private equity and venture capital professionals. Our revenues are primarily derived from subscriptions to our multi-asset class data and solutions powered by our connected data and technology platform. Our products and services include workstations, portfolio analytics and enterprise data solutions. We also offer managed services that operate as an extension of our clients' internal teams to support data, performance, risk and reporting workflows. We drive our business based on detailed understanding of our clients' workflows, which helps us to solve their most complex challenges. We provide financial data and market intelligence on securities, companies, industries and people to enable our clients to research investment ideas and analyze, monitor and manage their portfolios. Our solutions span the investment lifecycle of investment research, portfolio construction and analysis, trade execution, performance measurement, risk management and reporting. We provide open and flexible

View Full Filing

View this 10-K filing on SEC EDGAR