FactSet's Improved Top-Line Growth Is Offset by Restructuring Charges
Wide-moat rated FactSet finished its fiscal 2017 with revenue of $1.2 billion, slightly above our expectations. However, the company’s expenses did experience a sizable uptick. For fiscal 2017, GAAP operating margins declined more than 200 basis points to 28.8%. For the final fiscal quarter, GAAP operating margins declined more than 500 basis points to 25.2%. Much of this decline in margins is attributable to higher restructuring charges resulting from "efforts to realize more synergies." We are...FactSet Research Systems is a provider of integrated financial information, analytical applications and other services for the investment and corporate communities. The company's data and technology solutions can be implemented across the investment portfolio lifecycle or as standalone components. The company is focused on its three segments: United States, Europe, and Asia Pacific. The company delivers insight and information through the workflow solutions of Research, Analytics and Trading, Content and Technology Solutions, and Wealth. The company provides insights on global market trends and knowledge on companies and industries, as well as capabilities to monitor portfolio risk and performance and to execute trades.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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