Slide 1: FactSet Earnings Call First Quarter Fiscal 2026
Thursday, December 18, 2025 FactSet Earnings Call First Quarter Fiscal 2026 Copyright © 2025 FactSet Research Systems Inc. All rights reserved. FactSet Business Use Only
Slide 2: Forward-Looking Statements and Non-GAAP Measures
Forward-Looking Statements and Non-GAAP Measures This presentation, and other statements that FactSet may make in connection with this presentation, contains forward-looking statements based on management's current expectations, assumptions, estimates, forecasts and projections about future events,
Slide 3: Agenda
Agenda • Welcome • Business Update • Financial Overview • Questions and Answers • Appendix Copyright © 2025 FactSet Research Systems Inc. All rights reserved. FactSet Business Use Only 3
Slide 4: Business Update
FACTSET Business Update
Slide 5: Key Metrics – First Quarter 2026
Key Metrics – First Quarter 2026 5.9% 1 36.2% 2 $4.51 2 Organic ASV Growth Adjusted Operating Margin Adjusted Diluted EPS 1LTM organic ASV growth rate as of November 30, 2025. Annual Subscription Value (ASV) at any given point in time represents the forward-looking revenues for the next twelve month
Slide 6: Our Foundational Strengths
Our Foundational Strengths 1 2 3 4 Connected Embedded Service Broad + Deep Data Workflows Excellence Distribution • High quality, enriched • Built into clients’ data pipes • Best-in-class model • Over 9,000+ clients globally content and decision engines combining technology with • Approaching 240,00
Slide 7: 90%+ of ASV is Underpinned by Proprietary Advantages
90%+ of ASV is Underpinned by Proprietary Advantages PROPRIETARY ~ 40 Proprietary Analytics, % Models & Solutions ~ 50 Proprietary and Enriched % Data & Tools ~ 10 Enhanced % & Curated Mission-critical intelligence resulting from proprietary data and FactSet proprietary analytics, models, solutions
Slide 8: Strategic Priorities: Accelerate Sustainable Growth
Strategic Priorities Drive 1. Commercial Excellence Sharpening sales execution to reinvigorate top-line growth Deliver 2. Productivity Improvements Reducing complexity, applying modern Accelerate Sustainable tools and streamlining operations Growth Solidify 3. Long-Term Strategy Positioning FactSet
Slide 9: Financial Overview
FACTSET Financial Overview
Slide 10: Organic ASV and Growth by Global Segments and Firm Type
Organic ASV and Growth by Global Segments and Firm Type* Global Segments Americas $1,557M +6% EMEA $588M +4% Organic ASV $2,390M AsiaPac $245M +8% Firm Type Institutional Buy-Side $1,157M +4% 5.9% Dealmakers $456M +6% Wealth $374M +10% Market Infrastructure1 $403M +7% *Organic ASV as of November 30,
Slide 11: Key Operational Metrics
Key Operational Metrics >95% 239,863 ASV Retention User Count ASV retained from clients over Number of individuals accessing the last twelve months FactSet’s solutions = No change versus 2025 | Q1 +10% change since 2025 | Q1 91% 9,003 Client Retention Client Count Percentage of clients retained over
Slide 12: First Quarter 2026 Financial Results
First Quarter 2026 Financial Results* (in millions, except per share data) Revenues Organic Revenues Operating Income Adjusted Operating Income +6.9% +6.0% +3.0% +0.4% $569 $608 $566 $600 $191 $192 $214 $220 Q1 FY25 Q1 FY26 Q1 FY25 Q1 FY26 Q1 FY25 Q1 FY26 Q1 FY25 Q1 FY26 Margin 33.6% 31.6% (200) bps
Slide 13: Detailing Our Strategic Investments
Detailing Our Strategic Investments Disciplined and balanced approach to investing in our business Growth Scale Data Expansion Deepen Client Workflow Institutional Buy Side Enterprise Data Wealth PLC Broker Research Managed Services Dealmakers Fixed Income Agent Infrastructure Wealth AI Ready Data T
Slide 14: Anticipated Margin Impact of FY26 Investments
Anticipated Margin Impact of FY26 Investments Allocating ~2/3 of our gross investments to scaling data and deepening workflows that fuel growth and ~1/3 towards strengthening our foundational enablers ~250 bps Gross Investment ~2/3 ~1/3 GROWTH STRUCTURAL ~150 bps (~100 bps) Scale Deepen Strengthen I
Slide 15: We Reaffirm our Fiscal 2026 Guidance
We Reaffirm our Fiscal 2026 Guidance Fiscal 2026 Outlook1 $100 - $150 million Organic ASV Growth2 (~4.2% to ~6.2%) Revenues $2,423 - $2,448 million GAAP Operating Margin 29.5% - 31.0% Adjusted Operating Margin 34.0% - 35.5% Effective Tax Rate 18.0% - 19.0% GAAP Diluted EPS $14.55 - $15.25 Adjusted D
Slide 16: Questions & Answers
FACTSET Questions & Answers
Slide 17: Appendix
FACTSET Appendix
Slide 18: First Quarter 2026 Adjusted Operating Income Walk
First Quarter 2026 Adjusted Operating Income Walk (in millions) $608 $238 $30 $69 $18 $32 $220 Revenue People Third Party Content Technology Real Estate Other Adjusted Operating Income Figures as of November 30, 2025 Note: Figures may not foot due to rounding Copyright © 2025 FactSet Research System
Slide 19: Non-GAAP Reconciliations: Organic Revenues
Non-GAAP Reconciliations: Organic Revenues (in thousands) For the Three Months Ended (Unaudited) November 30, 2025 November 30, 2024 % Change GAAP Revenues $ 607,621 $ 568,667 6.9 % Acquisition revenues (6,674) — Disposition revenues — (2,650) Currency impact (918) — Organic revenues $ 600,029 $ 566
Slide 20: Non-GAAP Reconciliations: Adjusted Operating Income, Margin, Net Income
Non-GAAP Reconciliations: Adjusted Operating Income, Margin, Net Income (in thousands, except per share data) For the Three Months Ended (Unaudited) November 30, 2025 November 30, 2024 % Change GAAP operating income $ 192,071 $ 191,335 0.4 % Intangible asset amortization 19,170 16,581 CEO compensati
Slide 21: Non-GAAP Reconciliations: EBITDA and Adjusted EBITDA
Non-GAAP Reconciliations: EBITDA and Adjusted EBITDA (in thousands) For the Three Months Ended (Unaudited) November 30, 2025 November 30, 2024 % Change Net income $ 152,580 $ 150,022 1.7 % Interest expense 13,385 14,400 Income taxes 37,533 29,717 Depreciation and amortization expense 44,148 35,717 E
Slide 22: Non-GAAP Reconciliations: Adjusted Diluted EPS
Non-GAAP Reconciliations: Adjusted Diluted EPS (in thousands, except per share data) For the Three Months Ended (Unaudited) November 30, 2025 November 30, 2024 % Change Diluted EPS $ 4.06 $ 3.89 4.4 % Intangible asset amortization 0.41 0.32 CEO compensation and executive search costs 0.14 — Business
Slide 23: Non-GAAP Reconciliations: Free Cash Flow
Non-GAAP Reconciliations: Free Cash Flow (in thousands) For the Three Months Ended (Unaudited) November 30, 2025 November 30, 2024 % Change Net Cash Provided by Operating Activities $ 121,284 $ 86,372 40.4 % Capital Expenditures (30,847) (25,874) Free Cash Flow $ 90,437 $ 60,498 49.5 % Note: Columns
Slide 24: Non-GAAP Reconciliations: Business Outlook Operating Margin, Net Income and Diluted EPS
Non-GAAP Reconciliations: Business Outlook Operating Margin, Net Income and Diluted EPS (in millions, except per share data) Fiscal 2026 (Forward Looking) Low End of Range High End of Range Revenues $2,423 $2,448 Operating Income $750 $720 Operating Margin 31.0% 29.5% Intangible Asset Amortization 7
Slide 25: Thank you!
Thank you! Copyright © 2025 FactSet Research Systems Inc. All rights reserved. FactSet Business Use Only 25