FactSet grew revenue 6.7% in FY2026, yet kept less of each dollar

FactSet Research Systems, a US provider of financial data and analytics, reported revenue of USD 2.5bn for FY2026, which ended in August 2026. That is 6.7% more than the year before. Profit did not follow. Operating profit fell to USD 700m from USD 748m, and net profit declined to USD 533m from USD 597m. The operating margin slipped to 28.3% from 32.2%. Each dollar of sales left the company with noticeably less operating profit than a year earlier. All figures are consolidated and in USD.

In a data and software business, costs usually come first: staff, technology and content are paid for before new contracts show up in revenue. Depreciation and amortisation rose too, to USD 181m from USD 158m, which weighs on operating profit before any cash leaves the company. I would watch the cash line: it fell 30.9% to USD 233m. The statements do not split the cost increase by line. FactSet sold more and kept less, which is a fair description of the year.