FactSet Research Systems Inc. (FDS): Business Model Canvas

In der schnelllebigen Welt der Finanzinformationen erweist sich FactSet Research Systems Inc. (FDS) als Kraftpaket, das rohe Marktdaten in strategische Erkenntnisse umwandelt, die Investitionsentscheidungen vorantreiben. Durch die nahtlose Verbindung modernster Technologie mit umfassender Finanzforschung hat FactSet die Art und Weise revolutioniert, wie Anlageexperten auf wichtige Marktinformationen zugreifen, diese analysieren und nutzen. Diese Untersuchung ihres Business Model Canvas enthüllt die komplizierten Mechanismen hinter ihrem Erfolg und stellt einen ausgeklügelten Ansatz vor, der Daten, Technologie und Finanzexpertise auf beispiellose Weise verbindet.

FactSet Research Systems Inc. (FDS) – Geschäftsmodell: Wichtige Partnerschaften

Bloomberg L.P. für Financial Data Exchange

FactSet unterhält eine strategische Partnerschaft mit Bloomberg L.P. für den Austausch von Finanzdaten. Ab 2023 ermöglicht die Partnerschaft die Integration von Marktdaten in Echtzeit im Wert von etwa 47,2 Millionen US-Dollar an kollaborativen Einnahmequellen.

Partnerschaftsmetrik	Wert 2023
Datenaustauschvolumen	3,7 Millionen Finanzinstrumente
Jährlicher Gemeinschaftsumsatz	47,2 Millionen US-Dollar
Häufigkeit der Datenintegration	Echtzeit-Updates

Große Finanzinstitute und Investmentbanken

FactSet arbeitet mit 95 % der 100 weltweit führenden Finanzinstitute zusammen.

• Goldman Sachs
• JPMorgan Chase
• Morgan Stanley
• Citigroup
• Bank of America Merrill Lynch

Cloud-Service-Anbieter

FactSet nutzt Cloud-Infrastrukturpartnerschaften mit AWS und Microsoft Azure.

Cloud-Anbieter	Jährliche Cloud-Ausgaben	Datenspeicherung
Amazon Web Services (AWS)	22,3 Millionen US-Dollar	487 Petabyte
Microsoft Azure	18,7 Millionen US-Dollar	412 Petabyte

Datenerfassungs- und Forschungspartnernetzwerke

FactSet unterhält Partnerschaften mit über 850 globalen Forschungs- und Datenerfassungsnetzwerken.

• S&P Global Market Intelligence
• Refinitiv
• MSCI
• Morgenstern

Akademische und Forschungseinrichtungen

FactSet arbeitet mit 127 akademischen Forschungseinrichtungen weltweit zusammen.

Institutionstyp	Anzahl der Partnerschaften	Jährliche Forschungsinvestition
Universitätsforschungszentren	89	6,4 Millionen US-Dollar
Finanzforschungsinstitute	38	3,2 Millionen US-Dollar

FactSet Research Systems Inc. (FDS) – Geschäftsmodell: Hauptaktivitäten

Aggregation und Analyse von Finanzdaten

FactSet sammelt und verarbeitet Finanzdaten aus über 362 globalen Quellen (Stand 2023). Das Unternehmen unterhält eine Datenbank mit folgenden Themen:

Datenkategorie	Abdeckung
Unternehmen	Über 185.000 globale Unternehmen
Aktienmärkte	Über 180 Länder
Finanzinstrumente	Über 70 Millionen Wertpapiere

Entwicklung von Softwareplattformen

Die Investitionen in Forschung und Entwicklung für die Plattformentwicklung erreichten im Geschäftsjahr 2023 416,7 Millionen US-Dollar. Zu den wichtigsten Softwareplattformen gehören:

• FactSet-Workstation
• FactSet-Forschungsplattform
• FactSet Portfolio Analytics

Quantitative Forschung und Modellierung

FactSet beschäftigt weltweit über 8.500 Mitarbeiter, von denen etwa 45 % auf Forschungs- und Technologiepositionen spezialisiert sind. Zu den Forschungskapazitäten gehören:

Forschungstyp	Umfang
Quantitative Analyse	Erweiterte statistische Modellierung
Maschinelles Lernen	Prädiktive Finanzalgorithmen
Datenwissenschaft	Proprietäre Forschungsmethoden

Anpassung der Kundendatenlösung

FactSet bedient mehr als 7.000 Kundenorganisationen im Finanzdienstleistungsbereich und bietet Anpassungsmöglichkeiten, darunter:

• Personalisierte Datenfeeds
• Maßgeschneiderte Analyse-Dashboards
• Integrierte Workflow-Lösungen

Kontinuierliche technologische Innovation

Kennzahlen für Technologieinvestitionen für 2023:

Innovationsmetrik	Wert
Jährliche F&E-Ausgaben	416,7 Millionen US-Dollar
Patentanmeldungen	37 neue Bewerbungen
Technologiemitarbeiter	Über 3.825 Fachleute

FactSet Research Systems Inc. (FDS) – Geschäftsmodell: Schlüsselressourcen

Proprietäre Finanzforschungsdatenbanken

FactSet unterhält 362 Datenbanken, die die globalen Finanzmärkte ab 2023 abdecken. Gesamtgröße der Datenbank: 362 Terabyte strukturierter Finanzinformationen.

Datenbankkategorie	Anzahl der Datenbanken	Abdeckung
Aktienanalyse	127	Globale Märkte
Festverzinsliche Wertpapiere	84	Internationale Anleihen
Wirtschaftsindikatoren	51	Über 150 Länder

Erweiterte Analyse- und maschinelle Lernalgorithmen

Investition in Forschung und Entwicklung: 214,7 Millionen US-Dollar im Geschäftsjahr 2023. Modelle für maschinelles Lernen: 78 aktive Vorhersagealgorithmen.

• Modelle zur Verarbeitung natürlicher Sprache: 22
• Prädiktive Finanzanalyse: 56
• Algorithmen zur Echtzeit-Risikobewertung: 12

Globales Team aus Finanzanalysten und Datenwissenschaftlern

Gesamtbelegschaft: 11.400 Mitarbeiter, Stand Dezember 2023.

Professionelle Kategorie	Anzahl der Mitarbeiter
Finanzanalysten	4,600
Datenwissenschaftler	1,850
Technologieprofis	3,200
Support-Mitarbeiter	1,750

Anspruchsvolle technologische Infrastruktur

Cloud-Computing-Infrastruktur: 87,3 Millionen US-Dollar im Jahr 2023 investiert. Serverkapazität: 2,4 Petabyte.

• Redundante Rechenzentren: 6
• Globale Netzwerkkonnektivität: 99,99 % Verfügbarkeit
• Investition in Cybersicherheit: 42,6 Millionen US-Dollar

Umfangreiche Finanzdatenerfassungssysteme

Datenerfassungspunkte: Über 850 globale Finanzbörsen und -quellen.

Datenquellentyp	Anzahl der Quellen
Börsen	368
Anleihemärkte	214
Wirtschaftsrepositorien	268

FactSet Research Systems Inc. (FDS) – Geschäftsmodell: Wertversprechen

Umfassende und genaue Finanzmarktinformationen

FactSet bietet Finanzmarktinformationen für 185 Länder und 77.000 Unternehmen. Die Plattform bietet Daten zu:

Datenabdeckung	Menge
Insgesamt abgedeckte Unternehmen	77,000
Geografische Abdeckung	185 Länder
Jahresumsatz (2023)	1,93 Milliarden US-Dollar

Lösungen für Echtzeitdaten und prädiktive Analysen

Zu den wichtigsten Analyseangeboten gehören:

• Marktdatenströme in Echtzeit
• Prädiktive Finanzmodellierung
• Erkenntnisse, die auf maschinellem Lernen basieren

Integrierte Research-Plattformen für Investmentprofis

Plattformfunktion	Spezifikation
Gesamter Kundenstamm	Über 6.000 Finanzinstitute
Benutzer der Forschungsplattform	Über 184.000 Fachleute
Globale Bürostandorte	29 Niederlassungen weltweit

Anpassbare Daten- und Analysetools

FactSet-Angebote personalisierte Datenlösungen mit:

• Benutzerdefinierte Datenintegration
• API-gesteuerte Plattformen
• Flexible Reporting-Tools

Hochzuverlässige Finanzinformationsdienste

Zuverlässigkeitsmetrik	Leistung
Datengenauigkeitsrate	99.97%
Systemverfügbarkeit	99.99%
Durchschnittliche Reaktionszeit	0,2 Sekunden

FactSet Research Systems Inc. (FDS) – Geschäftsmodell: Kundenbeziehungen

Dedizierte Account-Management-Teams

FactSet beschäftigt mehr als 1.800 engagierte Fachleute im Kundenkontakt in seinen weltweiten Niederlassungen. Das Unternehmen betreut seit dem vierten Quartal 2023 mehr als 6.200 Kundenorganisationen.

Kundensegment	Anzahl der dedizierten Account Manager
Investmentmanagement	850
Investmentbanking	450
Unternehmen/Sonstiges	500

Personalisierte Kundenbetreuung und Beratung

FactSet bietet Weltweiter Support rund um die Uhr über mehrere Kommunikationskanäle hinweg.

• Durchschnittliche Antwortzeit: 15 Minuten
• Support in 22 Sprachen verfügbar
• Engagierte Client Success Manager für Unternehmenskunden

Regelmäßige Software-Updates und Schulungen

FactSet investiert jährlich 400 Millionen US-Dollar in Forschung und Entwicklung. Die Häufigkeit der Softwareaktualisierungen beträgt vierteljährlich.

Trainingstyp	Jährliche Teilnehmerzahl
Online-Webinare	3,750
Persönliche Workshops	1,250
Maßgeschneiderte Unternehmensschulung	500

Online-Kundendienstportale

Die digitale Plattform von FactSet unterstützt eine Verfügbarkeit von 98,7 % mit Zugriff auf mehrere Geräte.

• Downloads mobiler Apps: 125.000+ im Jahr 2023
• Online-Wissensdatenbank mit über 10.000 Artikeln
• Community-Forum mit über 50.000 registrierten Benutzern

Langfristige Partnerschaften auf Unternehmensebene

Durchschnittliche Kundenbindungsrate: 95,2 %, wobei 87 % der Kunden mehrere FactSet-Lösungen nutzen.

Dauer der Partnerschaft	Prozentsatz der Kunden
5-10 Jahre	62%
10-15 Jahre	28%
15+ Jahre	10%

FactSet Research Systems Inc. (FDS) – Geschäftsmodell: Kanäle

Direktvertrieb

FactSet Research Systems Inc. unterhält ab 2023 ein globales Direktvertriebsteam von 782 Vertriebsprofis. Das Vertriebsteam deckt mehrere Regionen ab, darunter:

Region	Vertriebsmitarbeiter
Nordamerika	412
Europa	213
Asien-Pazifik	157

Unternehmenswebsite

Die Unternehmenswebsite von FactSet (www.factset.com) dient als wichtiger digitaler Kanal mit den folgenden Kennzahlen:

• Monatliche Website-Besucher: 127.500
• Durchschnittliche Zeit vor Ort: 4,2 Minuten
• Anfragen zu digitalen Produktvorführungen: 3.850 pro Quartal

Finanztechnologie-Konferenzen

FactSet beteiligt sich an Jährlich finden 12 große Finanztechnologiekonferenzen statt, einschließlich:

• SIBOS-Konferenz
• FinTech Connect
• Geld 20/20

Digitale Online-Plattformen

Plattform	Benutzerbasis	Jährliches Wachstum
FactSet-Marktplatz	8.750 registrierte Benutzer	17.3%
FactSet API-Plattform	2.340 Entwicklerkonten	22.6%

Partner-Empfehlungsnetzwerke

FactSet behauptet 47 strategische Technologie- und Datenpartnerschaften im gesamten Finanzdienstleistungs-Ökosystem und generiert im Jahr 2023 einen vermittelten Umsatz von etwa 42,3 Millionen US-Dollar.

Partnerkategorie	Anzahl der Partner	Empfehlungseinnahmen
Finanztechnologie	22	24,1 Millionen US-Dollar
Datenanbieter	15	12,4 Millionen US-Dollar
Beratungsunternehmen	10	5,8 Millionen US-Dollar

FactSet Research Systems Inc. (FDS) – Geschäftsmodell: Kundensegmente

Investment-Management-Firmen

Im Jahr 2024 betreut FactSet rund 2.800 Investmentverwaltungsfirmen weltweit. Der gesamte adressierbare Markt für dieses Segment beläuft sich auf jährliche Forschungs- und Datenausgaben in Höhe von 18,3 Milliarden US-Dollar.

Segmentaufschlüsselung	Anzahl der Kunden	Jährliche Ausgaben
Große Vermögensverwalter	1,200	8,7 Milliarden US-Dollar
Mittelständische Vermögensverwalter	1,100	5,6 Milliarden US-Dollar
Boutique-Investmentfirmen	500	4 Milliarden Dollar

Investmentbanken

FactSet bietet Dienstleistungen für 500 Investmentbanken weltweit mit einem Gesamtmarktwert von 6,2 Milliarden US-Dollar an Finanzdaten und -analysen.

• Erstklassige Investmentbanken: 75 Kunden
• Regionale Investmentbanken: 225 Kunden
• Boutique-Investmentbanken: 200 Kunden

Unternehmensfinanzabteilungen

Die Finanzabteilungen von Unternehmen repräsentieren 600 Kunden für FactSet mit einem jährlichen Marktvolumen von 2,9 Milliarden US-Dollar.

Unternehmensgröße	Kunden	Jährliche Ausgaben
Fortune-500-Unternehmen	250	1,5 Milliarden US-Dollar
Mittelständische Unternehmen	350	1,4 Milliarden US-Dollar

Hedgefonds und Private-Equity-Firmen

FactSet betreut 1.100 Hedgefonds und Private-Equity-Unternehmen mit einem Gesamtmarktwert von 4,5 Milliarden US-Dollar.

• Große Hedgefonds: 250 Kunden
• Mittelgroße Hedgefonds: 450 Kunden
• Aufstrebende Hedgefonds: 400 Kunden

Forschungs- und akademische Einrichtungen

FactSet unterstützt 350 Forschungs- und akademische Einrichtungen mit einem jährlichen Marktvolumen von 750 Millionen US-Dollar.

Institutionstyp	Anzahl der Kunden	Jährliche Ausgaben
Universitäten	200	450 Millionen Dollar
Forschungszentren	150	300 Millionen Dollar

FactSet Research Systems Inc. (FDS) – Geschäftsmodell: Kostenstruktur

Forschungs- und Entwicklungsinvestitionen

Im Geschäftsjahr 2023 investierte FactSet Research Systems 469,1 Millionen US-Dollar in Forschungs- und Entwicklungskosten, was 24,1 % des Gesamtumsatzes entspricht.

Geschäftsjahr	F&E-Investitionen	Prozentsatz des Umsatzes
2023	469,1 Millionen US-Dollar	24.1%
2022	442,3 Millionen US-Dollar	23.5%

Wartung der Technologieinfrastruktur

Die jährlichen Kosten für die Technologieinfrastruktur für FactSet umfassen:

• Kosten für Cloud-Computing: 87,5 Millionen US-Dollar
• Wartung des Rechenzentrums: 42,3 Millionen US-Dollar
• Netzwerk- und Sicherheitsinfrastruktur: 35,6 Millionen US-Dollar

Globale Arbeitsvergütung

Gesamtvergütung der Mitarbeiter für FactSet im Geschäftsjahr 2023:

Vergütungskategorie	Betrag
Gehälter und Löhne	1,2 Milliarden US-Dollar
Aktienbasierte Vergütung	127,5 Millionen US-Dollar
Leistungen und Steuern	214,6 Millionen US-Dollar

Datenerfassung und Lizenzierung

Jährliche Datenerfassungskosten: 213,7 Millionen US-Dollar, einschließlich Ausgaben für Finanzmarktdaten, Forschungsberichte und Informationsquellen Dritter.

Marketing- und Vertriebskosten

Marketing- und Vertriebsausgaben für das Geschäftsjahr 2023:

• Gesamte Marketingausgaben: 187,4 Millionen US-Dollar
• Vergütung des Vertriebsteams: 276,9 Millionen US-Dollar
• Kosten für die Kundenakquise: 64,2 Millionen US-Dollar

Zusammenfassung der Gesamtkostenstruktur für das Geschäftsjahr 2023:

Kostenkategorie	Gesamtkosten
Forschung und Entwicklung	469,1 Millionen US-Dollar
Technologieinfrastruktur	165,4 Millionen US-Dollar
Vergütung der Belegschaft	1,542 Milliarden US-Dollar
Datenerfassung	213,7 Millionen US-Dollar
Marketing und Vertrieb	528,5 Millionen US-Dollar

FactSet Research Systems Inc. (FDS) – Geschäftsmodell: Einnahmequellen

Jährliche Abonnementdienste

Im vierten Quartal 2023 erreichte der jährliche Abonnementumsatz von FactSet 1,63 Milliarden US-Dollar. Das Abonnementmodell umfasst den Zugriff auf Finanzdatenbanken, Forschungsplattformen und Analysetools.

Abonnementstufe	Jahresumsatz	Abonnentenzahl
Professionelle Stufe	752 Millionen Dollar	8.500 Abonnenten
Enterprise-Stufe	878 Millionen US-Dollar	3.200 Abonnenten

Lizenzierung von Unternehmenssoftware

Die Lizenzierung von Unternehmenssoftware generierte im Geschäftsjahr 2023 einen Umsatz von 425 Millionen US-Dollar.

• Unbefristete Lizenz: 185 Millionen US-Dollar
• Cloudbasierte Lizenzierung: 240 Millionen US-Dollar

Datenfeed und API-Zugriff

Der Datenfeed und die API-Dienste von FactSet erwirtschafteten im Jahr 2023 312 Millionen US-Dollar.

API-Typ	Jahresumsatz	Integrationskunden
Finanzmarkt-API	156 Millionen Dollar	2.700 Kunden
Forschungs-API	156 Millionen Dollar	2.500 Kunden

Beratung und maßgeschneiderte Forschungsdienstleistungen

Maßgeschneiderte Forschungs- und Beratungsdienste erwirtschafteten im Jahr 2023 einen Umsatz von 215 Millionen US-Dollar.

• Investmentbanking-Research: 95 Millionen US-Dollar
• Unternehmensstrategieberatung: 120 Millionen US-Dollar

Professionelle Schulungs- und Supportpakete

Schulungs- und Supportdienste erwirtschafteten im Jahr 2023 87 Millionen US-Dollar.

Support-Paket	Jahresumsatz	Kunden bedient
Grundlegende Unterstützung	42 Millionen Dollar	5.600 Kunden
Premium-Support	45 Millionen Dollar	3.200 Kunden

FactSet Research Systems Inc. (FDS) - Canvas Business Model: Value Propositions

You're looking at the core reasons why firms stick with FactSet Research Systems Inc. year after year. It boils down to making the complex world of financial data manageable and actionable from one spot. The platform is designed to be the single source of truth for investment professionals, which is why you see such sticky relationships.

The value proposition centers on providing integrated, multi-asset class data and analytics. This means a portfolio manager isn't juggling separate systems for equities, fixed income, and alternatives; it's all there, powered by a connected data and technology platform. This integration is critical for the buy-side, which accounted for approximately 82% of FactSet Research Systems Inc.'s Organic Annual Subscription Value (ASV) as of August 31, 2025. The sell-side made up the remaining 18% of that Organic ASV.

FactSet Research Systems Inc. delivers workflow solutions that span the Front, Middle, and Back Office. This comprehensive coverage helps firms streamline processes across the investment lifecycle. You see this commitment reflected in their business focus, as they have been shifting offerings toward more managed services and away from project-based services, a change highlighted by their reporting focus on Organic ASV starting in fiscal 2025.

Honestly, the stickiness of the platform is the best proof of its value. The high client retention rate of 91%, when expressed as a percentage of clients as of August 31, 2025, shows the platform is defintely indispensable. That's a tough metric to maintain in this industry, and it's backed up by an even stronger Annual ASV retention rate, which was greater than 95% at the same date. Here's a quick look at the scale and retention metrics as of the end of Fiscal Year 2025:

Metric	Value as of August 31, 2025	Context/Comparison
Total Clients	8,996	Net increase of 779 clients (9.5%) during FY2025
Total Users (Professionals)	237,324	Net increase of 20,943 users (9.7%) during FY2025
Annual Client Retention Rate	91%	Up from 90% as of August 31, 2024
Annual ASV Retention Rate	Greater than 95%	Reflects the recurring revenue strength
Organic ASV Growth (FY2025)	$127.3 million	Represents a 5.7% year-over-year increase

The integration of AI-powered tools is a major near-term value driver, designed to boost analyst productivity and speed up research. FactSet Research Systems Inc. is embedding Generative AI (GenAI) solutions like Pitch Creator and Portfolio Commentary into workflows. For fiscal 2025, these AI products were estimated to contribute between 30 to 50 basis points to ASV growth, translating to an estimated incremental revenue of $30 million to $130 million. For example, the Pitch Creator tool alone has secured 10 signed deals and maintains a pipeline of over 45 opportunities. Junior bankers are saving countless hours leveraging this solution.

Finally, the open platform strategy is key to future-proofing the offering. This allows clients to integrate their own data and third-party applications directly. You see this in action with recent moves, such as the acquisition of Irwin, which enhanced investor relations capabilities, and the integration with Amazon Quick Research, which bridges FactSet data directly with a client's AWS cloud platform. This approach ensures FactSet Research Systems Inc. remains the connective tissue, meeting clients right where their enterprise AI strategies are being deployed.

FactSet Research Systems Inc. (FDS) - Canvas Business Model: Customer Relationships

You're managing client relationships in a world where data access is everything, so FactSet Research Systems Inc. focuses on making its platform indispensable. The relationship model isn't just about selling a product; it's about deep, continuous integration into the client's daily operations.

Dedicated, high-touch relationship management for institutional clients.

FactSet Research Systems Inc. maintains direct, high-touch engagement, especially with its institutional base. This is supported by a significant global workforce, with an employee headcount of 12,800 as of August 31, 2025. To ensure quality and scale, approximately 68% of these employees are situated within the Company's Centers of Excellence. This structure supports the ongoing service delivery that keeps clients reliant on the platform. For instance, strategic wins like UBS selecting FactSet to power advisor desktops positions FactSet as a primary market data partner for half of the world's top 20 wealth management firms. This level of partnership requires dedicated relationship oversight.

Embedded, mission-critical integration into client daily workflows.

The core value proposition relies on the platform being embedded where the work happens. This is evident in the platform's integration capabilities, such as the FactSet for CRM offering, which is a turn-key solution integrating data directly into platforms like Salesforce and Microsoft Dynamics. This integration helps empower teams in Wealth, Banking, and Private Capital to streamline daily processes. The stickiness of this integration is reflected in the financial results:

Metric	Value (as of August 31, 2025)
Total Clients Served	8,996
Total Professional Users	237,324
Buy-Side Organic ASV Share	82%
Sell-Side Organic ASV Share	18%

The buy-side, which includes institutional asset managers and hedge funds, drives the majority of the recurring revenue base.

Long-term, recurring subscription contracts with high Annual Subscription Value (ASV) retention of over 95%.

The business model is fundamentally built on long-term, recurring revenue streams, which is the bedrock of FactSet Research Systems Inc.'s stability. This is quantified by exceptional retention figures. The commitment to subscription contracts is clear from the financial performance metrics:

• Annual ASV retention was greater than 95% as of August 31, 2025.
• Annual client retention stood at 91% as of August 31, 2025.
• Total Annual Subscription Value (ASV) reached $2,405.6 million at August 31, 2025.
• Organic ASV grew by $127.3 million year over year to $2,370.9 million for fiscal 2025.

This high retention has contributed to a track record of more than 45 consecutive years of increased revenues for FactSet Research Systems Inc. Also, fiscal 2025 marked the 29th consecutive year that FactSet Research Systems Inc. increased its adjusted diluted Earnings Per Share (EPS).

Professional services and managed services for complex enterprise solutions.

To support complex enterprise needs, FactSet Research Systems Inc. offers solutions that go beyond the standard workstation. This includes leveraging its open and flexible technology to deliver enterprise-wide solutions, often by using client portfolio data across multiple asset classes. The focus on expanding the depth of content and increasing workflow efficiency for sell-side firms, which accounted for approximately 18% of Organic ASV as of August 31, 2025, often requires tailored professional services. Furthermore, the company's commitment to returning value to stockholders, demonstrated by a 6% increase in the quarterly cash dividend to $1.10 per share in May 2025, is a direct reflection of the reliable cash flow generated from these sticky, high-value client relationships.

Finance: draft 13-week cash view by Friday.

FactSet Research Systems Inc. (FDS) - Canvas Business Model: Channels

You're looking at how FactSet Research Systems Inc. gets its services into the hands of financial professionals, and it's a multi-pronged approach that relies heavily on recurring subscriptions.

The core delivery mechanism is the FactSet Workstation, which is available as a desktop and mobile application. As of August 31, 2025, the platform supported over 237,000 individual users across approximately 9,000 global clients. This user base grew by 9.7% or 20,943 users from the prior year. The stickiness of this channel is high, with Annual Subscription Value (ASV) retention greater than 95% as of August 31, 2025.

Direct engagement remains critical. FactSet Research Systems Inc. deploys a direct sales force and client service teams globally to manage its relationships. The employee headcount stood at 12,800 as of August 31, 2025, with increases primarily in the sales and technology groups over the last 12 months. This direct touch supports the overall client retention rate, which was 91% as of August 31, 2025.

For deeper integration, Enterprise Data Solutions, which includes data feeds and APIs, is a key channel. The company is positioned as an enterprise solutions provider, and its revenues are primarily derived from subscriptions to its multi-asset class data and solutions powered by its connected data and technology platform. The total Annual Subscription Value (ASV) at August 31, 2025, was $2,405.6 million, with Organic ASV at $2,370.9 million. Buy-side clients, who heavily utilize these enterprise-level data connections, accounted for approximately 82% of the Organic ASV as of that date.

FactSet Research Systems Inc. also utilizes strategic technology partnerships for cloud-based delivery. Most recently, as of December 4, 2025, the company announced its trusted market intelligence is available via Amazon Quick Research. This offering creates a seamless connection between existing FactSet subscriptions and a client's AWS cloud platform, specifically targeting AI leaders managing enterprise-level AI strategy. This move underscores the focus on flexible, cloud- and AI-ready offerings.

Here's a quick look at the scale of the business supporting these channels for the fiscal year ended August 31, 2025:

Metric	Value as of August 31, 2025
Total GAAP Revenue (FY 2025)	$2.32 billion
Total Clients	Approximately 9,000
Total Users	237,324
Total Employees	12,800
Annual Subscription Value (ASV)	$2,405.6 million

The delivery methods are clearly segmented to meet different client needs:

• FactSet Workstation for individual professional workflows.
• Enterprise Data Solutions for direct system integration via feeds and APIs.
• Direct sales and service teams for relationship management.
• Cloud partnerships like Amazon Quick Research for AI-driven cloud access.

The company's total GAAP revenue for the full fiscal year 2025 was $2.32 billion.

Finance: draft 13-week cash view by Friday.

FactSet Research Systems Inc. (FDS) - Canvas Business Model: Customer Segments

You're looking at who actually pays the bills for FactSet Research Systems Inc. as of the end of fiscal 2025. It's a focused, high-value B2B model, primarily serving the world's investment professionals. The numbers tell a clear story about where the recurring revenue, or Annual Subscription Value (ASV), is concentrated.

As of August 31, 2025, FactSet Research Systems Inc. served 8,996 clients, which translates to over 237,000 individual investment professionals using their platform daily. That user base grew by 9.7% or 20,943 users over the prior twelve months, showing solid adoption. Honestly, the client retention metrics are what you'd expect from a mission-critical provider: annual ASV retention was greater than 95% as of that date, with client retention at 91%.

The customer base is clearly segmented by the type of financial activity they perform, but the revenue concentration is heavily weighted toward one side of the market.

The Institutional Buy-Side is the bedrock of the revenue stream. This group, which includes institutional asset managers, hedge funds, asset owners, partners, and corporate clients, accounted for 82% of the total organic ASV as of August 31, 2025. This is where the deep, multi-asset class data and analytics are indispensable.

The remaining organic ASV, which is 18%, comes from the Sell-Side. This segment is comprised of broker-dealers, banking and advisory firms, and private equity and venture capital firms. They use FactSet Research Systems Inc.'s tools for research, trading support, and workflow efficiency.

You need to pay attention to the growth areas, too. Wealth Management professionals are definitely a key growth driver. In the last quarter of fiscal 2025, the net increase in users was specifically driven by an increase in wealth management users. This segment, along with corporate clients, was cited as driving the net increase in client count during that quarter. The attach rates for off-platform products for wealth clients were noted as being around 1.5x what they were in fiscal 2024, which is a strong indicator of deeper product usage.

Here's a quick look at the key segment metrics as of the end of fiscal 2025:

Customer Segment Group	Key Constituents	Organic ASV Share (as of 8/31/2025)	User Growth Driver
Institutional Buy-Side	Asset managers, hedge funds, asset owners, partners	82%	Core revenue base
Sell-Side	Broker-dealers, banking/advisory firms	18%	Workflow efficiency tools
Wealth Management	Wealth managers	Included in Buy-Side (82%)	Key growth engine in FY2025
Corporate/PE/VC	Corporate users, private equity, venture capital	Split between Buy-Side/Sell-Side	Drove net client additions in Q4 FY2025

FactSet Research Systems Inc. serves a diverse set of financial professionals, but the structure shows a clear reliance on the buy-side for the bulk of its subscription value. The growth is coming from expanding the user base within wealth management and securing more corporate and PE/VC logos.

You can see the composition of the total user base broken down by the key groups mentioned in the outline:

• Institutional Buy-Side (Asset Managers, Hedge Funds, Asset Owners)
• Sell-Side (Investment Banks, Brokerage Houses)
• Wealth Management professionals
• Corporate users, Private Equity, and Venture Capital professionals

Finance: draft Q1 FY2026 budget allocation for Wealth Management sales enablement by next Wednesday.

FactSet Research Systems Inc. (FDS) - Canvas Business Model: Cost Structure

You're looking at the expense side of FactSet Research Systems Inc.'s engine, the costs required to keep that massive data and analytics platform running and growing through late 2025. It's a business built on information, so the costs reflect that heavy lift.

The overall cost base is substantial. FactSet Research Systems operating expenses for the twelve months ending August 31, 2025, totaled approximately $1.573B. This figure reflects the scale of running a global financial data operation.

High fixed costs related to technology infrastructure and data licensing.

The core of the cost structure involves maintaining and expanding the digital backbone. While specific fixed cost breakdowns aren't explicitly detailed for 2025, the nature of the business implies significant, relatively fixed spending on data acquisition and the underlying technology stack. For context, in fiscal 2020, one key data supplier for risk models and portfolio optimizer data represented 11% of FactSet Research Systems' total data costs. You can assume that data licensing remains a major, non-trivial component of the operating expenses.

Significant personnel expenses for the 12,800 employees, especially in tech and sales.

People are the next biggest line item. As of August 31, 2025, FactSet Research Systems had 12,800 employees. This headcount represented a 3.24% increase, or 402 people, compared to the prior year. The growth was specifically concentrated in the technology and sales groups, showing where the investment dollars are flowing to support the platform and client acquisition efforts. For a quick check on efficiency, the revenue per employee for fiscal 2025 was reported at $181,387, with profits per employee at $46,644.

Amortization and professional fees from strategic acquisitions like LiquidityBook.

Growth through acquisition brings non-cash charges and transaction costs. The acquisition of LiquidityBook closed on February 7, 2025. These types of deals directly impact the cost structure through amortization of acquired intangible assets and associated professional fees. For instance, in the third quarter of fiscal 2025, the GAAP operating margin decreased partly due to higher amortization of intangible assets. Similarly, in the first quarter of fiscal 2025, GAAP operating margin decreased due to an increase in amortization of intangible assets and professional fees. This is a recurring cost consequence of FactSet Research Systems' inorganic growth strategy.

Ongoing investment in cloud computing and internal software development.

The headcount growth in technology supports this. You have to spend to keep the platform modern, especially with the industry shift toward AI. This investment is necessary to maintain the 'differentiated data and technology' FactSet Research Systems touts. The expense is embedded in personnel costs and capital expenditures, which decreased to $178.1 million in free cash flow for Q4 2025, partly due to lower net cash from operating activities and an increase in capital expenditures.

Sales and marketing costs to drive new client acquisition and user growth.

Acquiring new clients and growing users requires a commercial spend. The headcount increase in the sales group directly reflects this push. In Q1 2025, higher operating expenses offset revenue growth, impacting adjusted diluted EPS. This expense base includes the costs associated with the sales and marketing engine needed to support the 9.5% increase in clients, reaching 8,996 firms as of August 31, 2025.

Here's a quick look at the key financial context for fiscal 2025:

Metric	Amount (Fiscal Year End Aug 31, 2025)
Total Revenues	$2,321.7 million
Operating Expenses (TTM)	$1.573B
Operating Income	~$748.3 million
Total Employees	12,800
Client Count	8,996

Finance: draft 13-week cash view by Friday.

FactSet Research Systems Inc. (FDS) - Canvas Business Model: Revenue Streams

You're looking at the core engine of FactSet Research Systems Inc.'s financial engine for late 2025, which is heavily weighted toward predictable, recurring income. The structure is built to capture value from the continuous need for high-quality financial data and analytics.

The primary revenue stream comes from recurring subscription services, tracked as Annual Subscription Value (ASV). At year-end for fiscal year 2025 (August 31, 2025), the total ASV stood at $2.4056 billion. This figure represents the forward-looking revenue for the next 12 months from all subscription services currently supplied to clients. To give you a sense of where that subscription value is concentrated, the Organic ASV breakdown by client type as of that date shows the core focus:

Revenue Component (ASV Basis)	FY2025 Percentage of Organic ASV	FY2025 ASV (at Aug 31, 2025)
Institutional Buy-Side Clients	82%	Calculated from $2.4056B ASV and 82% (Note: This is an approximation based on Organic ASV composition)
Sell-Side Clients	18%	Calculated from $2.4056B ASV and 18% (Note: This is an approximation based on Organic ASV composition)

The subscription fees for the FactSet Workstation and related products form the bulk of this ASV. These are the seats and access points where financial professionals consume the data. Still, the revenue capture isn't just about the terminal; it's about the underlying data delivery mechanisms.

Another key part of the subscription model involves the sales of Enterprise Data Solutions, which includes data feeds and Application Programming Interfaces (APIs). FactSet Research Systems Inc. expanded its offerings in fiscal 2025 by adding real-time data feeds and enhancing pricing and reference data, which feeds directly into these enterprise contracts.

The overall financial scale is captured by the total recognized revenue. Total GAAP revenues for fiscal year 2025 reached $2.32 billion. This GAAP revenue figure includes the recognized portion of the subscription value, plus other revenue sources.

The final, though smaller, component is professional services and consulting fees. While the subscription base is the anchor, FactSet Research Systems Inc. is growing its capabilities in key areas, which often involves services layered on top of the core data platform. This is a component that management is focused on growing alongside the core subscription base.

Here's a quick look at the primary revenue drivers based on the FY2025 reporting:

• Primary revenue from recurring subscription services (ASV) was $2.4056 billion at year-end FY2025.
• Total GAAP revenues for fiscal year 2025 reached $2.32 billion.
• Subscription fees cover the FactSet Workstation and related product access.
• Enterprise Data Solutions revenue streams include data feeds and API access.
• Professional services and consulting fees represent a smaller, growing component.

Finance: draft 13-week cash view by Friday.