FactSet Delivers Strong Q3 Results, Reaffirms FY '25 Guidance Amid Exciting Leadership Transition
On its recent conference call to discuss third quarter earnings for fiscal year 2025, FactSet presented a compelling picture of growth and stability. The company reported organic ASV (Annualized Contract Value) growth of 4.5% year-over-year, driven by recent wins in the wealth management, dealmakers, and partnerships segments.
FactSet's Chief Executive Officer, Phil Snow, took a moment to reflect on his three-decade tenure with the company and announced his decision to retire after 10 years as CEO. He praised FactSet's strong foundation built on innovation, client trust, and industry-leading data and workflow solutions. Sanoke Viswanathan will succeed him as CEO in early September.
Under Snow's leadership, FactSet has more than doubled its revenue over the past decade, positioning itself as a trusted global enterprise leader in powering smarter, data-driven investment decisions. The company achieved an adjusted operating margin of 36.8% and adjusted diluted EPS (Earnings Per Share) of $4.27 in Q3.
FactSet's financial performance is a testament to the successful execution of its enterprise solutions strategy. The company continues to see positive trends in ASV retention, with both expansion within existing accounts and new business accelerating in Q3. ASV retention remained strong at over 95%, while client retention was at 91%. FactSet's client base grew to over 8,800, driven by demand from corporate wealth management and buy-side clients.
The company also reported a rise in user count to over 220,000, primarily reflecting growth among wealth management users. With a healthy pipeline and growing momentum, FactSet is well-positioned for a strong close to the fiscal year and has reaffirmed its FY '25 guidance."
