Intrinsic value of FactSet Research Systems - FDS

Previous Close

$216.83

  Intrinsic Value

$158.44

stock screener

  Rating & Target

sell

-27%

Previous close

$216.83

 
Intrinsic value

$158.44

 
Up/down potential

-27%

 
Rating

sell

We calculate the intrinsic value of FDS stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 8.5

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  8.40
  8.06
  7.75
  7.48
  7.23
  7.01
  6.81
  6.63
  6.46
  6.32
  6.19
  6.07
  5.96
  5.86
  5.78
  5.70
  5.63
  5.57
  5.51
  5.46
  5.41
  5.37
  5.33
  5.30
  5.27
  5.24
  5.22
  5.20
  5.18
  5.16
Revenue, $m
  1,324
  1,430
  1,541
  1,656
  1,776
  1,901
  2,030
  2,165
  2,304
  2,450
  2,602
  2,759
  2,924
  3,095
  3,274
  3,461
  3,656
  3,859
  4,072
  4,294
  4,527
  4,770
  5,024
  5,291
  5,569
  5,861
  6,167
  6,488
  6,824
  7,176
Variable operating expenses, $m
  905
  970
  1,039
  1,110
  1,184
  1,261
  1,340
  1,423
  1,510
  1,599
  1,605
  1,702
  1,804
  1,909
  2,020
  2,135
  2,255
  2,380
  2,512
  2,649
  2,792
  2,942
  3,099
  3,263
  3,435
  3,616
  3,804
  4,002
  4,209
  4,426
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  905
  970
  1,039
  1,110
  1,184
  1,261
  1,340
  1,423
  1,510
  1,599
  1,605
  1,702
  1,804
  1,909
  2,020
  2,135
  2,255
  2,380
  2,512
  2,649
  2,792
  2,942
  3,099
  3,263
  3,435
  3,616
  3,804
  4,002
  4,209
  4,426
Operating income, $m
  419
  460
  502
  547
  592
  640
  690
  741
  795
  851
  997
  1,057
  1,120
  1,186
  1,255
  1,326
  1,401
  1,479
  1,560
  1,645
  1,734
  1,828
  1,925
  2,027
  2,134
  2,246
  2,363
  2,486
  2,615
  2,750
EBITDA, $m
  594
  642
  692
  744
  798
  854
  912
  972
  1,035
  1,100
  1,168
  1,239
  1,313
  1,390
  1,471
  1,554
  1,642
  1,733
  1,829
  1,929
  2,033
  2,142
  2,257
  2,376
  2,502
  2,633
  2,770
  2,914
  3,065
  3,223
Interest expense (income), $m
  0
  31
  35
  39
  43
  47
  52
  57
  62
  67
  72
  77
  83
  89
  95
  102
  109
  116
  123
  131
  139
  147
  156
  165
  175
  185
  195
  206
  218
  230
  242
Earnings before tax, $m
  388
  425
  463
  503
  545
  588
  633
  680
  728
  779
  919
  974
  1,031
  1,091
  1,153
  1,217
  1,285
  1,356
  1,430
  1,507
  1,587
  1,672
  1,760
  1,853
  1,949
  2,051
  2,157
  2,268
  2,385
  2,507
Tax expense, $m
  105
  115
  125
  136
  147
  159
  171
  184
  197
  210
  248
  263
  278
  294
  311
  329
  347
  366
  386
  407
  429
  451
  475
  500
  526
  554
  582
  612
  644
  677
Net income, $m
  283
  310
  338
  368
  398
  429
  462
  496
  532
  568
  671
  711
  753
  796
  841
  889
  938
  990
  1,044
  1,100
  1,159
  1,220
  1,285
  1,352
  1,423
  1,497
  1,575
  1,656
  1,741
  1,830

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  1,504
  1,625
  1,751
  1,882
  2,018
  2,160
  2,307
  2,460
  2,619
  2,784
  2,956
  3,136
  3,323
  3,517
  3,721
  3,933
  4,154
  4,385
  4,627
  4,880
  5,144
  5,420
  5,709
  6,012
  6,329
  6,661
  7,008
  7,373
  7,754
  8,155
Adjusted assets (=assets-cash), $m
  1,504
  1,625
  1,751
  1,882
  2,018
  2,160
  2,307
  2,460
  2,619
  2,784
  2,956
  3,136
  3,323
  3,517
  3,721
  3,933
  4,154
  4,385
  4,627
  4,880
  5,144
  5,420
  5,709
  6,012
  6,329
  6,661
  7,008
  7,373
  7,754
  8,155
Revenue / Adjusted assets
  0.880
  0.880
  0.880
  0.880
  0.880
  0.880
  0.880
  0.880
  0.880
  0.880
  0.880
  0.880
  0.880
  0.880
  0.880
  0.880
  0.880
  0.880
  0.880
  0.880
  0.880
  0.880
  0.880
  0.880
  0.880
  0.880
  0.880
  0.880
  0.880
  0.880
Average production assets, $m
  874
  944
  1,017
  1,093
  1,172
  1,254
  1,340
  1,429
  1,521
  1,617
  1,717
  1,821
  1,930
  2,043
  2,161
  2,284
  2,413
  2,547
  2,687
  2,834
  2,988
  3,148
  3,316
  3,492
  3,676
  3,869
  4,070
  4,282
  4,504
  4,736
Working capital, $m
  -64
  -69
  -74
  -80
  -85
  -91
  -97
  -104
  -111
  -118
  -125
  -132
  -140
  -149
  -157
  -166
  -175
  -185
  -195
  -206
  -217
  -229
  -241
  -254
  -267
  -281
  -296
  -311
  -328
  -344
Total debt, $m
  647
  721
  799
  879
  963
  1,050
  1,140
  1,234
  1,332
  1,434
  1,540
  1,650
  1,765
  1,885
  2,010
  2,140
  2,276
  2,419
  2,567
  2,723
  2,885
  3,055
  3,233
  3,419
  3,614
  3,818
  4,032
  4,256
  4,491
  4,737
Total liabilities, $m
  925
  1,000
  1,077
  1,158
  1,241
  1,328
  1,419
  1,513
  1,610
  1,712
  1,818
  1,928
  2,043
  2,163
  2,288
  2,419
  2,555
  2,697
  2,846
  3,001
  3,163
  3,333
  3,511
  3,697
  3,892
  4,096
  4,310
  4,534
  4,769
  5,015
Total equity, $m
  579
  626
  674
  725
  777
  832
  888
  947
  1,008
  1,072
  1,138
  1,207
  1,279
  1,354
  1,432
  1,514
  1,599
  1,688
  1,781
  1,879
  1,980
  2,087
  2,198
  2,315
  2,437
  2,564
  2,698
  2,838
  2,985
  3,140
Total liabilities and equity, $m
  1,504
  1,626
  1,751
  1,883
  2,018
  2,160
  2,307
  2,460
  2,618
  2,784
  2,956
  3,135
  3,322
  3,517
  3,720
  3,933
  4,154
  4,385
  4,627
  4,880
  5,143
  5,420
  5,709
  6,012
  6,329
  6,660
  7,008
  7,372
  7,754
  8,155
Debt-to-equity ratio
  1.120
  1.150
  1.180
  1.210
  1.240
  1.260
  1.280
  1.300
  1.320
  1.340
  1.350
  1.370
  1.380
  1.390
  1.400
  1.410
  1.420
  1.430
  1.440
  1.450
  1.460
  1.460
  1.470
  1.480
  1.480
  1.490
  1.490
  1.500
  1.500
  1.510
Adjusted equity ratio
  0.385
  0.385
  0.385
  0.385
  0.385
  0.385
  0.385
  0.385
  0.385
  0.385
  0.385
  0.385
  0.385
  0.385
  0.385
  0.385
  0.385
  0.385
  0.385
  0.385
  0.385
  0.385
  0.385
  0.385
  0.385
  0.385
  0.385
  0.385
  0.385
  0.385

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  283
  310
  338
  368
  398
  429
  462
  496
  532
  568
  671
  711
  753
  796
  841
  889
  938
  990
  1,044
  1,100
  1,159
  1,220
  1,285
  1,352
  1,423
  1,497
  1,575
  1,656
  1,741
  1,830
Depreciation, amort., depletion, $m
  175
  182
  190
  197
  205
  214
  222
  231
  240
  250
  172
  182
  193
  204
  216
  228
  241
  255
  269
  283
  299
  315
  332
  349
  368
  387
  407
  428
  450
  474
Funds from operations, $m
  459
  493
  528
  565
  603
  643
  684
  727
  772
  818
  843
  893
  946
  1,000
  1,058
  1,117
  1,179
  1,244
  1,312
  1,383
  1,458
  1,535
  1,616
  1,702
  1,791
  1,884
  1,982
  2,084
  2,191
  2,304
Change in working capital, $m
  -5
  -5
  -5
  -6
  -6
  -6
  -6
  -6
  -7
  -7
  -7
  -8
  -8
  -8
  -9
  -9
  -9
  -10
  -10
  -11
  -11
  -12
  -12
  -13
  -13
  -14
  -15
  -15
  -16
  -17
Cash from operations, $m
  464
  498
  533
  570
  609
  649
  690
  734
  778
  825
  850
  901
  954
  1,009
  1,066
  1,126
  1,189
  1,254
  1,322
  1,394
  1,469
  1,547
  1,629
  1,714
  1,804
  1,898
  1,996
  2,099
  2,207
  2,321
Maintenance CAPEX, $m
  -81
  -87
  -94
  -102
  -109
  -117
  -125
  -134
  -143
  -152
  -162
  -172
  -182
  -193
  -204
  -216
  -228
  -241
  -255
  -269
  -283
  -299
  -315
  -332
  -349
  -368
  -387
  -407
  -428
  -450
New CAPEX, $m
  -67
  -70
  -73
  -76
  -79
  -82
  -85
  -89
  -92
  -96
  -100
  -104
  -109
  -113
  -118
  -123
  -129
  -134
  -140
  -147
  -153
  -160
  -168
  -176
  -184
  -193
  -202
  -212
  -222
  -232
Cash from investing activities, $m
  -148
  -157
  -167
  -178
  -188
  -199
  -210
  -223
  -235
  -248
  -262
  -276
  -291
  -306
  -322
  -339
  -357
  -375
  -395
  -416
  -436
  -459
  -483
  -508
  -533
  -561
  -589
  -619
  -650
  -682
Free cash flow, $m
  316
  340
  366
  393
  421
  449
  480
  511
  543
  577
  588
  625
  663
  703
  744
  787
  832
  879
  927
  978
  1,032
  1,088
  1,146
  1,207
  1,271
  1,338
  1,407
  1,481
  1,557
  1,638
Issuance/(repayment) of debt, $m
  72
  75
  78
  81
  84
  87
  90
  94
  98
  102
  106
  110
  115
  120
  125
  130
  136
  142
  149
  155
  162
  170
  178
  186
  195
  204
  214
  224
  235
  246
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  72
  75
  78
  81
  84
  87
  90
  94
  98
  102
  106
  110
  115
  120
  125
  130
  136
  142
  149
  155
  162
  170
  178
  186
  195
  204
  214
  224
  235
  246
Total cash flow (excl. dividends), $m
  387
  415
  443
  473
  504
  536
  570
  605
  641
  679
  694
  735
  778
  822
  869
  917
  968
  1,021
  1,076
  1,134
  1,194
  1,258
  1,324
  1,393
  1,466
  1,542
  1,621
  1,705
  1,792
  1,884
Retained Cash Flow (-), $m
  -45
  -47
  -49
  -50
  -52
  -54
  -57
  -59
  -61
  -64
  -66
  -69
  -72
  -75
  -78
  -82
  -85
  -89
  -93
  -97
  -102
  -106
  -111
  -117
  -122
  -128
  -134
  -140
  -147
  -154
Prev. year cash balance distribution, $m
  26
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  24
  26
  29
  31
  33
  36
  38
  41
  43
  46
  49
  52
  55
  58
  62
  65
  69
  73
  77
  81
  86
  91
  95
  100
  106
  111
  117
  123
  130
  136
Cash available for distribution, $m
  368
  368
  395
  423
  452
  482
  513
  546
  580
  615
  628
  666
  706
  747
  791
  836
  883
  932
  983
  1,037
  1,093
  1,151
  1,212
  1,277
  1,344
  1,414
  1,487
  1,565
  1,645
  1,730
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  353
  337
  344
  348
  350
  350
  347
  341
  333
  322
  298
  284
  268
  251
  232
  212
  192
  172
  151
  132
  113
  96
  79
  65
  52
  41
  32
  24
  18
  13
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Factset Research Systems Inc. is engaged in providing integrated financial information and big data analytical applications for the global investment community. The Company's segments include the U.S., Europe and Asia Pacific. The U.S. segment services finance professionals, including financial institutions throughout the Americas. The European segment maintains offices in France, Germany, Italy, Ireland, Latvia, Luxembourg, the Netherlands, Spain, South Africa, Sweden and Dubai. The Asia Pacific segment maintains office locations in Australia, Hong Kong, Singapore and Mumbai, India. The Company delivers insight and information to investment professionals through its analytics, service, content, and technology. Its offerings include a complete services solution focused on verifying, cleaning and loading portfolio data across asset classes, and an execution management system. The Company offers third-party content through desktop, wireless and off-platform solutions.

FINANCIAL RATIOS  of  FactSet Research Systems (FDS)

Valuation Ratios
P/E Ratio 32.8
Price to Sales 6.9
Price to Book 15.1
Price to Tangible Book
Price to Cash Flow 26.4
Price to Free Cash Flow 29.8
Growth Rates
Sales Growth Rate 8.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -22.9%
Cap. Spend. - 3 Yr. Gr. Rate 15.5%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 102.7%
Total Debt to Equity 102.7%
Interest Coverage 0
Management Effectiveness
Return On Assets 21.2%
Ret/ On Assets - 3 Yr. Avg. 31.4%
Return On Total Capital 26.4%
Ret/ On T. Cap. - 3 Yr. Avg. 40%
Return On Equity 47.9%
Return On Equity - 3 Yr. Avg. 52.9%
Asset Turnover 1
Profitability Ratios
Gross Margin 53.6%
Gross Margin - 3 Yr. Avg. 56.7%
EBITDA Margin 32.1%
EBITDA Margin - 3 Yr. Avg. 37.5%
Operating Margin 28.7%
Oper. Margin - 3 Yr. Avg. 34.2%
Pre-Tax Margin 28.2%
Pre-Tax Margin - 3 Yr. Avg. 34.1%
Net Profit Margin 21.1%
Net Profit Margin - 3 Yr. Avg. 25%
Effective Tax Rate 25%
Eff/ Tax Rate - 3 Yr. Avg. 26.4%
Payout Ratio 31.4%

FDS stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the FDS stock intrinsic value calculation we used $1221 million for the last fiscal year's total revenue generated by FactSet Research Systems. The default revenue input number comes from 2017 income statement of FactSet Research Systems. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our FDS stock valuation model: a) initial revenue growth rate of 8.4% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for FDS is calculated based on our internal credit rating of FactSet Research Systems, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of FactSet Research Systems.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of FDS stock the variable cost ratio is equal to 68.9%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for FDS stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for FactSet Research Systems.

Corporate tax rate of 27% is the nominal tax rate for FactSet Research Systems. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the FDS stock is equal to 2%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for FDS are equal to 66%.

Life of production assets of 10 years is the average useful life of capital assets used in FactSet Research Systems operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for FDS is equal to -4.8%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $560 million for FactSet Research Systems - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 39 million for FactSet Research Systems is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of FactSet Research Systems at the current share price and the inputted number of shares is $8.5 billion.

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COMPANY NEWS

▶ FactSet Declares Dividend   [Aug-10-18 08:00AM  GlobeNewswire]
▶ FactSet Wins Lawsuit   [Aug-09-18 04:45PM  GlobeNewswire]
▶ 6 GARP Stocks to Scoop Up for Maximum Returns   [Jul-31-18 01:09PM  InvestorPlace]
▶ FactSet Announces Helen Shan as New Chief Financial Officer   [Jul-27-18 09:00AM  GlobeNewswire]
▶ What Happened in the Stock Market Today   [05:10PM  Motley Fool]
▶ Earnings Preview For FactSet Research Systems   [Jun-25-18 02:35PM  Benzinga]
▶ Why FactSet Research Systems Inc (NYSE:FDS) Could Be A Buy   [Jun-22-18 03:56PM  Simply Wall St.]
▶ FactSet Hires New Chief Information Security Officer   [Jun-20-18 09:00AM  GlobeNewswire]
▶ Mylan, ServiceNow, FactSet & biotech   [Jun-15-18 01:26PM  CNBC Videos]
▶ Add These 7 GARP Stocks to Your Kitty for Maximum Returns   [Jun-13-18 01:25PM  InvestorPlace]
▶ FactSet Extends Global Footprint, Opens Office in Shanghai   [May-31-18 09:00PM  GlobeNewswire]
▶ FactSet Schedules Third Quarter 2018 Earnings Call   [May-29-18 09:00AM  GlobeNewswire]
▶ 7 Surprising Stocks to Buy Now for Peak Earnings   [May-18-18 10:27AM  InvestorPlace]
▶ FactSet Increases Dividend by 14%   [May-07-18 09:00AM  GlobeNewswire]
▶ Information Giants IHS Markit, FactSet Research Earnings Top   [04:05PM  Investor's Business Daily]
▶ 3 Unknown but Amazing Dividend Stocks   [Mar-16-18 05:18PM  Motley Fool]
▶ FactSet Schedules Second Quarter 2018 Earnings Call   [Feb-27-18 09:00AM  GlobeNewswire]
▶ [$$] Danone to offload 1.4bn Yakult stake   [Feb-14-18 07:34AM  Financial Times]
▶ Portware Commits to FX Global Code of Conduct   [Feb-13-18 08:02AM  GlobeNewswire]
▶ FactSet Declares Dividend   [Feb-07-18 09:00AM  GlobeNewswire]
▶ Time Warner beats estimates on HBO growth   [Feb-01-18 07:22PM  Reuters]
▶ Company News For Dec 20, 2017   [Dec-20-17 09:47AM  Zacks]
▶ FactSet tops 1Q profit forecasts   [07:08AM  Associated Press]
▶ Nominations Open For 2017 ETF.com Awards   [Dec-04-17 01:30PM  ETF.com]
▶ FactSet Schedules First Quarter 2018 Earnings Call   [Nov-21-17 09:00AM  GlobeNewswire]
▶ FactSet Announces Chief Technology and Product Officer   [Nov-14-17 07:00AM  GlobeNewswire]
▶ FactSet Declares Dividend   [Nov-08-17 09:00AM  GlobeNewswire]
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