Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

FactSet Research Systems Inc. (FDS)

Company Dividend Discount ModelIndustry: Financial - Data & Stock ExchangesSector: Financial Services

Valuation Snapshot

Stable Growth$961.03 - $3,091.25$2,896.95
Multi-Stage$411.35 - $450.03$430.34
Blended Fair Value$1,663.64
Current Price$373.32
Upside345.63%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS7.69%9.17%4.163.923.613.283.072.882.602.332.111.93
YoY Growth--6.18%8.71%10.06%6.79%6.78%10.38%11.90%10.52%9.00%11.52%
Dividend Yield--1.12%0.80%0.80%0.71%0.66%0.86%1.00%0.99%1.05%1.21%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)597.04
(-) Cash Dividends Paid (M)236.66
(=) Cash Retained (M)360.38
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)119.4174.6344.78
Cash Retained (M)360.38360.38360.38
(-) Cash Required (M)-119.41-74.63-44.78
(=) Excess Retained (M)240.97285.75315.60
(/) Shares Outstanding (M)38.4138.4138.41
(=) Excess Retained per Share6.277.448.22
LTM Dividend per Share6.166.166.16
(+) Excess Retained per Share6.277.448.22
(=) Adjusted Dividend12.4313.6014.38
WACC / Discount Rate6.87%6.87%6.87%
Growth Rate5.50%6.50%7.50%
Fair Value$961.03$2,896.95$3,091.25
Upside / Downside157.43%676.00%728.04%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)597.04635.85677.18721.19768.07818.00842.54
Payout Ratio39.64%49.71%59.78%69.86%79.93%90.00%92.50%
Projected Dividends (M)236.66316.09404.84503.79613.90736.20779.35

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.87%6.87%6.87%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)293.00295.78298.56
Year 2 PV (M)347.87354.49361.18
Year 3 PV (M)401.29412.80424.54
Year 4 PV (M)453.28470.71488.64
Year 5 PV (M)503.88528.22553.49
PV of Terminal Value (M)13,800.8814,467.4715,159.57
Equity Value (M)15,800.2016,529.4817,285.98
Shares Outstanding (M)38.4138.4138.41
Fair Value$411.35$430.34$450.03
Upside / Downside10.19%15.27%20.55%

High-Yield Dividend Screener

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