Report published September 30, 2026
FactSet Research Systems Inc. (FDS): F4Q First Take: Outperformance in the Quarter Offset by Muted Guidance for F2027 – Goldman Sachs Research
Goldman Sachs · September 30, 2026
FactSet delivered F4Q 2026 revenue and EPS beats, but newly introduced F2027 guidance missed Street consensus on EPS. Goldman Sachs reiterates a Sell rating with a $236 price target based on secular headwinds from passive asset management and decelerating organic growth.
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Finvaulta summarizes Goldman Sachs's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.
Key Takeaways
- 1.FactSet delivered F4Q revenue ($634.7mn) and EPS ($4.52) that beat consensus, with organic revenue growing 7.1% y/y and organic ASV expanding 7.0% y/y.
- 2.FactSet's newly introduced F2027 guidance missed Street consensus on EPS ($19.25-$19.65 vs. $19.76 consensus), likely driving a negative investor reaction.
- 3.Goldman Sachs maintains a Sell rating and a 12-month price target of $236 (9.2% downside), applying a discounted 10.5x NTM+1YR EPS multiple due to secular passive asset management headwinds and pricing constraints.
Table of Contents
- Exhibit 1: F4Q Actuals vs GS and FactSet Estimates
- Actuals vs GS and FactSet estimates
- Guidance vs Street
- Valuation
- Risks
Report data
Exhibit 1: F4Q Actuals vs GS and FactSet Estimates — as of September 29, 2026.
| Metric | Estimate | Context |
|---|---|---|
| F4Q Revenue | 634.7 USD Millions | Reported revenue beat GS estimate ($628.0mn) and FactSet consensus ($629.8mn). |
| F4Q Diluted EPS | 4.52 USD | Actual EPS outperformed GS estimate ($4.48) and consensus ($4.35). |
| F4Q Organic Revenue Growth | 7.1% | Surpassed Goldman Sachs forecast of 5.2%. |
| F4Q Adjusted Operating Margin | 33.0% | Missed GS estimate of 33.4% but beat consensus of 32.8% due to higher compensation and tech expenses. |
| F2027 Revenue Guidance | 2.600 - 2.625 USD Billions | FactSet introduced full year F2027 guidance. |
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