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Analyst
Kelsey Zhu
Period: Reporting periods mapped to calendar 2024 Q4 – 2026 Q3 (8 quarters).
- Questions
- 34on tracked calls
- Challenge rate
- 6%2 of 34 questions
- Companies
- 4questioned at least once
- Reporting periods
- 8with questions
These figures cover the whole profile: every tracked question, all reporting periods.
How to read these numbers
Challenge rate is the share of questions that pushed back, pressed for specifics or questioned management’s assumptions. It describes how questions were asked on the calls tracked here; it does not measure whether any view turned out to be right.
Rounding. Rates are rounded to whole percentages, so a small share can show as 0% even when some questions were challenging. The count beside each rate is exact; “none of N questions” means no question was challenging.
No questions recorded. “—” means there is nothing to calculate: no questions were recorded for that period on the calls tracked here. It does not mean there was no activity.
Fewer than 3 questions. A company-level rate is withheld when fewer than 3 questions were recorded for that company; the questions are still counted everywhere else.
Small samples. Profiles with fewer than 10 questions are marked Limited sample.
Reporting periods. Questions are grouped by the calendar quarter each company’s fiscal reporting period maps to, not by the date of the call. Periods without a calendar mapping are listed separately under their fiscal label.
Questions asked
Grouped by company, most questions first. Open a company to read its questions, newest reporting period first.
Showing 34 of 34 questions from 4 companies
EFXEquifax13 questions · 7 reporting periods · 0 of 13 challenging
Calendar 2026 Q2
Any thoughts around the timeline for full-scale implementation for both VantageScore and FICO 10T?
Show response
Management sees strong Vantage momentum, still gated to 20+ lenders, expected to expand.
Calendar 2026 Q1
Got it. Second question, I was wondering if you can talk a little bit more about your outlook for volume growth across c
Show response
Management addressed the question directly with specific data points.
Could you maybe talk a little bit more about your expectation around VantageScore market share gains and future pricing
Show response
Management addressed the question directly with specific data points.
Calendar 2025 Q4
Got it. So second question, understanding that you are EBITDA agnostic on the cycle direct program, but it does impact r
Show response
Management addressed the question directly with specific data points.
Hi, good morning. Thanks for taking my question. Some of your peers have called out the improvement in the underlying po
Show response
Management addressed the question directly with specific data points.
Calendar 2025 Q3
You cited VantageScore upside in the mortgage vertical, which was very helpful.
Show response
Management addressed the question directly with specific data points.
Got it. And then second question on the Government vertical.
Show response
Management addressed the question directly with specific data points.
Calendar 2025 Q2
Hi. Good morning. Thanks for taking my question. I have two questions on government vertical.
Show response
Management addressed the question directly with specific data points.
Got it. Super helpful. And just more broadly, Mark, I was wondering if you can help us think through the opioid aid impa
Show response
Management addressed the question directly with specific data points.
Calendar 2025 Q1
Good morning, thanks for taking my question. I found the recession scenario analysis super helpful.
Show response
Management addressed the question directly with specific data points.
I was wondering how you expect each of these components to grow under a stagflation environment, meaning muted growth an
Show response
Management addressed the question directly with specific data points.
Calendar 2024 Q4
Hi, thanks for taking my question. I want to talk about the SSA contract extension that you've announced at the end of Q
Show response
Management addressed the question directly with specific data points.
Thanks. I was also wondering if you have any updated thoughts on sizing the incremental record additions from the Workda
Show response
Management addressed the question directly with specific data points.
FDSFactSet7 questions · 7 reporting periods · 1 of 7 challenging
Calendar 2026 Q3
Could you talk a little bit more about your acquisition of BCC Group and how it fits into your overall strategy?
Show response
Framed BCC as a high-operating-leverage technology unlock for real-time data distribution, explicitly not a services business.
Calendar 2026 Q2
how should we think about the incremental revenue opportunities brought by MCP
Show response
Mgmt said MCP is bringing net-new users (~20% of endpoint users) and AI consumption is upsizing existing products, an early AI flywheel effect.
Calendar 2026 Q1
If you transition all of your workstation ASV into Data Solutions ASV and apply usage-based pricing on top of that, what would that look like? Because I think end users are using FactSet Research S...
Show response
Sanoke said all channels are growing with user personas expanding beyond traditional workstation users to tech and data science teams. Enterprise contracts restructured for flexibility across workstation, feeds, MCP, and future channels. Over 30% extension in enterprise contract lengths.
Calendar 2025 Q4
I feel like recently there's been a lot of discussion around FactSet's competitive positioning versus AI startups. I'm actually more curious to hear your perspective on how FactSet is positioned am...
Show response
Sanoke expressed strong confidence in proprietary data and analytics assets, noting active partnerships across the AI ecosystem from hyperscalers to startups. Highlighted workstation as secure distribution channel for AI consumption.
Calendar 2025 Q3
how does that compare to guidance? And if you're expecting the same type of growth from AI products in 2026?
Show response
Helen confirmed GenAI contribution landed exactly at midpoint (40 bps) of 30-50 bps guidance. Noted these are stand-alone monetized products but AI influence on client decisions is much broader. Goran added 60% of AI sales came in Q4, and 35% of renewals cited GenAI as contributor.
Calendar 2025 Q1
I was wondering if you can provide more colors around the traction you’ve been gaining with clients, especially when it comes to PitchCreator and some of the other Gen AI products that you piloted ...
Show response
Phil highlighted PitchCreator as most momentum with almost two dozen large banking client trials. Conversational API seeing traction across all firm types. Portfolio Commentary packaging improving. Goran confirmed clients reacting well to pricing structure.
Calendar 2024 Q4
if we have any updated thoughts on total addressable market, who the key competitors are in this space, and just generally your strategy to expand
Show response
Phil highlighted Q1 outsourced CIO win and JPMorgan partnership. Goran noted no direct competition exists. Helen added attach rates are strong.
MSCIMSCI7 questions · 7 reporting periods · 1 of 7 challenging
Calendar 2026 Q2
Analytics margin was a bit softer than expected this quarter. Could you maybe talk about the main drivers there
Show response
Andy downplayed one-quarter segment margins, citing a prior-year Fabric contingent-consideration reversal and elevated comp and performance-stock accruals as skewing the comparison.
Calendar 2026 Q1
Good morning. Thanks for taking my question. How does AI change the competitive dynamics for you, particularly for the Analytics business? Are you seeing any intensified competition there?
Show response
Management addressed the question with specific commentary.
Calendar 2025 Q4
On ESG, I guess, a while ago, we talked about the regulatory headwinds or regulatory uncertainty in Europe and how that's impacted growth. What are you seeing in that market more recently?
Show response
Management addressed the question with specific commentary.
Calendar 2025 Q3
On active ETFs, could you just talk a little bit more about the economics of the products and services you provide in that area as well as your competitive advantages?
Show response
Management addressed the question with specific commentary.
Calendar 2025 Q2
Hi, good morning. Thanks for taking my question. Henry, I'm glad you mentioned active ETFs a few times in prepared remarks and in the Q&A.
Show response
Management addressed the question with specific commentary.
Calendar 2025 Q1
Hi, good morning. Thanks for taking my question. Just on analytics, I think you previously highlighted that in a period of high volatility and uncertainty, analytics would generally see
Show response
Management addressed the question with specific commentary.
Calendar 2024 Q4
Hi, good morning. Thanks for taking my question. So in private assets this quarter I think we’ve seen declines in both retention rates and net new sales.
Show response
Management addressed the question with specific commentary.
VRSKVerisk7 questions · 7 reporting periods · 0 of 7 challenging
Calendar 2026 Q2
are you also looking at partnering with some of these AI companies for model co-development?
Show response
Shavel confirmed engagement across all frontier model companies and framed Verisk's last-mile workflow distribution as the key asset they value.
Calendar 2026 Q1
Where do you see
Show response
Elizabeth Mann declined to size AI revenue impact, noting efficiency gains on development and data ingestion are offset by AI investment spending, calling it a 'push on the margin.' Lee Shavel cited productivity improvement as the primary monetization path.
Calendar 2025 Q4
Was wondering if you can talk a little bit more about any recent changes to the broader selling environment or sales cycle that you are seeing as P&C insurance industry transitions from hard to sof...
Show response
Lee Shavel noted lower premium growth motivates carriers to use more tools for profitable growth and risk assessment, and heightened profitability gives them resources to invest.
Calendar 2025 Q3
You called out the competitive pressure in auto 2 quarters in a row now. So I was just wondering if you can give us an update on what is happening in that market
Show response
Elizabeth Mann confirmed no change from prior quarter, noting focus on product differentiation through deeper data sets and unique analytic capabilities.
Calendar 2025 Q2
I think you called out a couple of times the competitive pressure there. So I was just wondering if you can add more color who you're seeing these competitive pressures from
Show response
Lee Shavel acknowledged a large-scale competitor without naming them, noting auto is less than 10% of total business and they compete by tying claims data to underwriting data.
Calendar 2025 Q1
You called out strong pricing realization in forms, rules, loss cost. I was just wondering what's contributing to trends you're seeing there
Show response
Elizabeth Mann cited both Core Lines Reimagine value delivery and strong 2023 premium growth (over 10%, around 11%) as contributing factors to pricing realization.
Calendar 2024 Q4
20% to 25% of your revenues come from contracts that have a direct input of premium growth with a 2-year lag. And 2023 was a pretty strong year for premium growth
Show response
Elizabeth Mann confirmed the premium-linked dynamic continues but redirected focus to value-based pricing as the more important long-term driver, without quantifying the specific pricing contribution.
Challenge rate by company
Every company this analyst questioned, most questions first. A company-level rate is shown from 3 questions; below that it is withheld.
| Company | Questions | Challenge rate |
|---|---|---|
| EFX Equifax | 13 | 0%none of 13 questions |
| FDS FactSet | 7 | 14%1 of 7 questions |
| MSCI MSCI | 7 | 14%1 of 7 questions |
| VRSK Verisk | 7 | 0%none of 7 questions |
Activity by reporting period
Questions recorded for each calendar quarter that companies’ reporting periods map to (not the call date), with the challenge rate for that period. Periods inside the range with no questions are shown as “No questions recorded”.
| Calendar period | Questions | Challenge rate | Companies |
|---|---|---|---|
| 2024 Q4 | 5 | 0%none of 5 questions | 4 |
| 2025 Q1 | 5 | 0%none of 5 questions | 4 |
| 2025 Q2 | 4 | 0%none of 4 questions | 3 |
| 2025 Q3 | 5 | 0%none of 5 questions | 4 |
| 2025 Q4 | 5 | 20%1 of 5 questions | 4 |
| 2026 Q1 | 5 | 0%none of 5 questions | 4 |
| 2026 Q2 | 4 | 25%1 of 4 questions | 4 |
| 2026 Q3 | 1 | 0%none of 1 question | 1 |
- 2024 Q45 questions · challenge rate 0% (none of 5 questions) · 4 companies
- 2025 Q15 questions · challenge rate 0% (none of 5 questions) · 4 companies
- 2025 Q24 questions · challenge rate 0% (none of 4 questions) · 3 companies
- 2025 Q35 questions · challenge rate 0% (none of 5 questions) · 4 companies
- 2025 Q45 questions · challenge rate 20% (1 of 5 questions) · 4 companies
- 2026 Q15 questions · challenge rate 0% (none of 5 questions) · 4 companies
- 2026 Q24 questions · challenge rate 25% (1 of 4 questions) · 4 companies
- 2026 Q31 question · challenge rate 0% (none of 1 question) · 1 company
Topics
Topics tagged on this analyst’s questions.
- Cloud & AI14
- Revenue Growth13
- Competitive Dynamics11
- Product Launch8
- Pricing6
- Credit6
- Innovation & R&D5
- Guidance Reliability5
- Regulation Policy4
- Demand3
Show all 16 topics
- Macroeconomic3
- M&A2
- Subscriber Growth2
- Margin2
- Cost Pressure2
- Geographic Expansion1