FactSet Earnings: Solid Finish to Fiscal 2024; Guidance Is Just OK

FactSet reported a decent finish to 2024. FactSet reported fiscal fourth-quarter revenue of $562 million, which was in line with our expectations but above the FactSet consensus estimate. On this revenue, FactSet generated $201 million in adjusted operating income, which beat our expectations. As is customary with its fourth-quarter earnings release, FactSet provided its initial outlook for fiscal 2025, in which the firm's revenue outlook came in a bit below our expectations but was in line with consensus expectations. As we update our model, we do not expect a material change to our fair value estimate of $395, and we will maintain our narrow moat rating. We regard the firm's shares as pricey at current levels.