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Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
| Analyst | Firm | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Shlomo Rosenbaum | Stifel | 10 questions · 10% challenging |
| George Tong | Goldman Sachs | 8 questions · 13% challenging |
| Ashish Sabadra | RBC Capital Markets | 8 questions · 0% challenging |
| Kelsey Zhu | Autonomous Research | 7 questions · 14% challenging |
| Alex Kramm | UBS | 7 questions · 14% challenging |
| Faiza Alwy | Deutsche Bank | 7 questions · 14% challenging |
| Andrew Nicholas | William Blair | 7 questions · 0% challenging |
| Jason Haas | Wells Fargo | 7 questions · 29% challenging |
| Surinder Thind | Jefferies | 7 questions · 0% challenging |
| Scott Wurtzel | Wolfe Research | 6 questions · 0% challenging |
| Firm | Analysts | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Stifel | 1 analyst | 10 questions · 10% challenging |
| RBC Capital Markets | 1 analyst | 8 questions · 0% challenging |
| Goldman Sachs | 1 analyst | 8 questions · 13% challenging |
| William Blair | 2 analysts | 8 questions · 0% challenging |
| Barclays | 2 analysts | 8 questions · 0% challenging |
| Deutsche Bank | 1 analyst | 7 questions · 14% challenging |
| Jefferies | 1 analyst | 7 questions · 0% challenging |
| Autonomous Research | 1 analyst | 7 questions · 14% challenging |
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FactSet delivered its fourth consecutive quarter of ASV growth acceleration at 6.7%, powered by double-digit Data Solutions growth across all firm types and rapid adoption of AI capabilities including the MCP Server with 120+ clients since December launch. Enterprise agreement restructuring reduced direct seat exposure below 20% of revenue while extending average contract lengths 30%+. Adjusted operating margin compressed to 35% as planned investments in technology, AI, and commercial excellence ramped, though over half of targeted 100 bps productivity savings were already captured. Management raised full-year ASV, revenue, and EPS guidance, reflecting sustained momentum and improved visibility across all client types and geographies.
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| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Op margin | Net margin |
|---|---|---|---|---|---|---|
| FY2025 Q1 | $569M | +4.9% | $3.89 | +1.3% | 33.6% | 26.4% |
| FY2025 Q2 | $571M | +4.5% | $3.76 | +3.0% | 32.5% | 25.4% |
| FY2025 Q3 | $586M | +5.9% | $3.87 | -5.4% | 33.2% | 25.4% |
| FY2025 Q4 | $597M | +6.2% | $4.03 | +73.7% | 29.7% | 25.7% |
| FY2026 Q1 | $608M | +6.9% | $4.06 | +4.4% | 31.6% | 25.1% |
| FY2026 Q2Selected | $611M | +7.1% | $3.59 | -4.5% | 30.3% | 21.8% |
| FY2026 Q3 | $623M | +6.4% | $3.50 | -9.6% | 26.7% | 20.3% |
| FY2026 Q4 | $635M | +6.3% | $3.41 | -15.4% | 24.7% | 19.1% |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
Demand | Revenue Growth | Competitive Dynamics | Cloud & AI | Pricing | Margin | Capex Investment | Macroeconomic | |
|---|---|---|---|---|---|---|---|---|
| 2025Q1 | 9 | 6 | 4 | 3 | 3 | 1 | 1 | 3 |
| 2025Q2 | 9 | 5 | 4 | 1 | 3 | 1 | 2 | 2 |
| 2025Q3 | 4 | 5 | 3 | 3 | 1 | 4 | 3 | 1 |
| 2025Q4 | 2 | 5 | 4 | 5 | 1 | 3 | 3 | 2 |
| 2026Q1 | 5 | 3 | 5 | 3 | 2 | 2 | 2 | 1 |
| 2026Q2 | 4 | 2 | 3 | 4 | 3 | 2 | 1 | 1 |
| 2026Q3 | 1 | 5 | 1 | 5 | 3 | 3 | 1 |
| '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | '26Q2 | '26Q3 | |
|---|---|---|---|---|---|---|---|
| Demand | 9 | 9 | 4 | 2 | 5 | 4 | 1 |
| Revenue Growth | 6 | 5 | 5 | 5 | 3 | 2 | 5 |
| Competitive Dynamics | 4 | 4 | 3 | 4 | 5 | 3 | 1 |
| Cloud & AI | 3 | 1 | 3 | 5 | 3 | 4 | 5 |
| Pricing | 3 | 3 | 1 | 1 | 2 | 3 | 3 |
| Margin | 1 | 1 | 4 | 3 | 2 | 2 | 3 |
| Capex Investment | 1 | 2 | 3 | 3 | 2 | 1 | 1 |
| Macroeconomic | 3 | 2 | 1 | 2 | 1 | 1 |
Calendar quarter Q1 2026Earnings call Mar 31, 2026
FY2026 Q2 in brief
FactSet delivered its fourth consecutive quarter of ASV growth acceleration at 6.7%, powered by double-digit Data Solutions growth across all firm types and rapid adoption of AI capabilities including the MCP Server with 120+ clients since December launch.
Newest quarter FY2026 Q4 is part of Pro · see what Pro adds →
GAAP revenue YoY +7.07% → base 6. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.
Sources. Tellvest earnings-call sentiment score for FactSet (FDS), FY2026 Q2: 6/10. Scores: FactSet’s public earnings-call transcripts and SEC-reported results — the base band is anchored to reported GAAP revenue growth; transcript, EPS and guidance adjustments are applied separately (documented exceptions apply to a few issuers). Price: FDS daily closing prices for the trailing year; dots mark earnings calls, colored by that quarter’s score; the newest quarter’s score is part of Tellvest Pro. How to read a company earnings-call score.
What FDS said about other companies on its FY2026 Q2 call, and what other companies said about FDS on their calls covering the same calendar quarter (Q1 2026). Each company's own fiscal quarter is shown next to its name. Extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“expanded our long-standing Schroders relationship to provide a managed service to enable greater scale”
FactSet expanded its long-standing Schroders relationship into a managed service, a positive signal for the client relationship.
“despite the challenging year-over-year comparison given our landmark UBS win a year ago”
FactSet references a landmark UBS wealth win a year ago that created a tough comparison, underscoring UBS as a major FactSet wealth client.
“Our newly announced partnership with Finster will accelerate our agentic platform for banking, meeting the growing demands of our dealmaker clients.”
FactSet's new partnership with Finster will accelerate its agentic banking platform, a signal for Finster's traction in financial AI.
“we have a strong partnership with Anthropic. We are one of the prominent financial services connect on the cloud marketplace.”
FactSet describes a strong partnership with Anthropic, calling its Claude cloud-marketplace channel its fastest-growing marketing channel as clients consume FactSet data through Claude agents.
“partnerships with Snowflake and Databricks enable clients to seamlessly combine FactSet Research Systems Inc. data with their own sources and operate AI-driven workflows in the secure cloud environments they already use.”
FactSet partners with Databricks to let clients combine FactSet data with their own sources for AI-driven workflows in the cloud.
“partnerships with Snowflake and Databricks enable clients to seamlessly combine FactSet Research Systems Inc. data with their own sources and operate AI-driven workflows in the secure cloud environments they already use.”
FactSet partners with Snowflake so clients can combine FactSet data with their own in the cloud, extending FactSet distribution into Snowflake's environment.
“Capital Group expanded their use of our Portware trading platform, which also achieved several new wins with other large asset managers.”
Capital Group expanded its use of FactSet's Portware trading platform, signaling continued adoption of FactSet trading solutions by large asset managers.
| Company | Score | Trend | Rev YoY | Headline |
|---|---|---|---|---|
| FDSFactSet | 6 | +7.1% | FactSet delivered its fourth consecutive quarter of ASV growth acceleration at 6.7%, powered by double-digit Data Solutions growth across all firm types and rapid adoption of AI capabilities including the MCP Server with 120+ clients since December launch | |
| CBOECboe Global Markets | 10 | +6.5% | Cboe Global Markets posted record net revenue of $729 million, up 29% year-over-year, with adjusted diluted EPS rising 48% to a record $3.70 (GAAP EPS was $3.66) | |
| CMECME Group | 7 | +14.5% | Record Volume Across All Six Asset Classes | |
| COINCoinbase Global | 1 | -30.5% | Coinbase reported a Q1 net loss of $394 million as total revenue declined 21% quarter-over-quarter amid a broad crypto market downturn that crushed transaction revenue across all segments | |
| ICEIntercontinental Exchange | 9 | +13.5% | ICE delivered record Q1 net revenues of $3 billion, up 18%, with adjusted EPS of $2.35 surging 37% year-over-year as record exchange volumes spanned all asset classes and the global energy franchise underwent structural repricing | |
| MCOMoody's Corporation | 7 | +8.1% | Record Rated Issuance Driven by AI Infrastructure | |
| MSCIMSCI | 8 | +14.1% | MSCI delivered over 13% organic revenue growth and nearly 14% adjusted EPS growth, with the ABF run rate hitting $872 million on $103 billion in record inflows and hedge funds driving subscription acceleration, marking record Q1 results across multiple dimensions | |
| NDAQNasdaq, Inc. | 8 | +2.3% | Nasdaq delivered net revenue of $1.4 billion with 13% growth as FinTech achieved record revenue with ACV bookings surging over 50% and 80% cloud-based, while Capital Markets Technology grew 20% with broad-based demand | |
| SPGIS&P Global | 8 | +10.4% | S&P Global grew Q1 2026 revenue 10% (9% organic constant currency) with adjusted diluted EPS up 14% year-over-year, as Ratings demonstrated resilience amid macro volatility and Indices delivered double-digit growth across all product lines |
FactSet delivered its fourth consecutive quarter of ASV growth acceleration at 6.7%, powered by double-digit Data Solutions growth across all firm types and rapid adoption of AI capabilities including the MCP Server with 120+ clients since December launch
Cboe Global Markets posted record net revenue of $729 million, up 29% year-over-year, with adjusted diluted EPS rising 48% to a record $3.70 (GAAP EPS was $3.66)
Coinbase reported a Q1 net loss of $394 million as total revenue declined 21% quarter-over-quarter amid a broad crypto market downturn that crushed transaction revenue across all segments
| Company | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 |
|---|---|---|---|---|---|---|
| FDS | 6 | 6 | 5 | 7 | 6 | 6 |
| CBOE | 7 | 8 | 8 | 9 | 9 | 10 |
| CME | 6 | 8 | 7 | 4 | 7 | 7 |
| COIN | 9 | 7 | 5 | 9 | 1 | 1 |
| ICE | 8 | 8 | 9 | 5 | 8 | 9 |
| MCO | 8 | 4 | 7 | 10 | 9 | 7 |
| MSCI | 6 | 7 | 7 | 7 | 7 | 8 |
| NDAQ | 9 | 8 | 8 | 8 | 8 | 8 |
| SPGI | 9 | 7 | 7 | 10 | 8 | 8 |
ICE delivered record Q1 net revenues of $3 billion, up 18%, with adjusted EPS of $2.35 surging 37% year-over-year as record exchange volumes spanned all asset classes and the global energy franchise underwent structural repricing
MSCI delivered over 13% organic revenue growth and nearly 14% adjusted EPS growth, with the ABF run rate hitting $872 million on $103 billion in record inflows and hedge funds driving subscription acceleration, marking record Q1 results across multiple dimensions
Nasdaq delivered net revenue of $1.4 billion with 13% growth as FinTech achieved record revenue with ACV bookings surging over 50% and 80% cloud-based, while Capital Markets Technology grew 20% with broad-based demand
S&P Global grew Q1 2026 revenue 10% (9% organic constant currency) with adjusted diluted EPS up 14% year-over-year, as Ratings demonstrated resilience amid macro volatility and Indices delivered double-digit growth across all product lines