Factset Research Systems vs Morningstar
Factset Research Systems and Morningstar are similar in size: $2.48bn and $2.45bn of revenue in their latest fiscal years. Morningstar grew faster (7.5% against 6.7%). Factset Research Systems kept more of each dollar of sales as profit: a net margin of 21.5% against 15.3%. Factset Research Systems carries less debt relative to equity (68.7% against 88.0%).
| Latest fiscal year | Factset Research SystemsFDS, 2026 | MorningstarMORN, 2025 |
|---|---|---|
| Revenue | $2.48bn | $2.45bn |
| Revenue growth | 6.7% | 7.5% |
| Net income | $533m | $374m |
| Operating margin | 28.3% | 21.5% |
| Net margin | 21.5% | 15.3% |
| Return on equity | 25.5% | 26.3% |
| Free cash flow | $707m | $443m |
| Cash | $233m | $475m |
| Total debt | $1.38bn | $1.07bn |
| Debt to equity | 68.7% | 88.0% |
| Dividend per share | — | $1.87 |
| Dividend yield | 1.4% | 0.9% |
| Share buybacks | $644m | $787m |
| Employees | 12,444 | 10,973 |
| Market value | $11.77bn | $8.84bn |
| Price vs our value range | Within our value range | — |
| Moat score | 90 (Strong) | 79 (Strong) |
| Insider trades, 12 months | 1 buys, 4 sales | 1 buys, 259 sales |