FACTSET RESEARCH SYSTEMS Business Summary

FactSet Research Systems Inc. (FDS) operates as a global provider of integrated financial information and analytical applications, primarily generating revenue through a recurring subscription-based model that accounts for approximately 98% of its Annual Subscription Value (ASV). The company’s business is segmented geographically into the Americas, EMEA, and Asia Pacific, serving a diverse client base across the buy-side and sell-side, including asset managers, wealth managers, and investment banks. FactSet differentiates itself through an 'open ecosystem' strategy, leveraging its cloud-based platform to integrate proprietary content with third-party data and client-specific datasets into a unified workflow. Its primary competitors include Bloomberg LP, S&P Global Market Intelligence (Capital IQ), and the London Stock Exchange Group (LSEG). Within this competitive landscape, FactSet is positioned as a high-touch, workflow-centric alternative that offers greater flexibility and integration capabilities than Bloomberg’s closed-loop terminal system. Founded in 1978 by Howard Wille and Charles Snyder, FactSet is currently led by CEO Philip Snow, a veteran who has been with the firm for nearly three decades and has spearheaded its pivot toward generative AI and cloud-native infrastructure. The executive team includes CFO Linda S. Huber, who brings extensive financial leadership experience from previous roles at Moody’s and MSCI, and CTO Kate Stepp, who oversees the development of the 'FactSet Mercury' AI suite and the firm’s digital transformation initiatives. The company is governed by a board of directors featuring industry leaders such as Robin A. Abrams and is heavily backed by major institutional investors, including The Vanguard Group, BlackRock, and State Street. This leadership team combines deep internal institutional knowledge with external expertise in financial data scaling and enterprise technology to maintain its market position in the evolving fintech landscape.