Factset Research Systems vs Tradeweb Markets
Factset Research Systems is the larger business, with $2.48bn of revenue in fiscal 2026 against $2.05bn for Tradeweb Markets (1.2 times as much). Tradeweb Markets grew faster (18.9% against 6.7%). Tradeweb Markets kept more of each dollar of sales as profit: a net margin of 39.6% against 21.5%.
| Latest fiscal year | Factset Research SystemsFDS, 2026 | Tradeweb MarketsTW, 2025 |
|---|---|---|
| Revenue | $2.48bn | $2.05bn |
| Revenue growth | 6.7% | 18.9% |
| Net income | $533m | $813m |
| Operating margin | 28.3% | — |
| Net margin | 21.5% | 39.6% |
| Return on equity | 25.5% | 13.2% |
| Free cash flow | $707m | $1.13bn |
| Cash | $233m | $2.08bn |
| Total debt | $1.38bn | $0 |
| Debt to equity | 68.7% | — |
| Dividend per share | — | $0.48 |
| Dividend yield | 1.4% | 0.4% |
| Share buybacks | $644m | $104m |
| Employees | 12,444 | 1,569 |
| Market value | $12.12bn | $26.16bn |
| Price vs our value range | Within our value range | — |
| Moat score | 90 (Strong) | 66 (Moderate) |
| Insider trades, 12 months | 1 buys, 4 sales | 0 buys, 23 sales |