FACTSET RESEARCH SYSTEMS INCFDS
FACTSET RESEARCH SYSTEMS INC Segments Disclosure
SEGMENT INFORMATION
Operating segments are defined as components of an enterprise that have the following characteristics: (i) they engage in business activities from which they may earn revenue and incur expense, (ii) their operating results are regularly reviewed by the chief operating decision maker ("CODM") for resource allocation decisions and performance assessment, and (iii) their discrete financial information is available. Our Chief Executive Officer functions as our CODM.
We have three operating segments: Americas, EMEA and Asia Pacific. This is how our CODM manages our business and the geographic markets in which we operate. These operating segments are consistent with our reportable segments. Our CODM uses segment operating income to assess performance and allocate resources to each segment. The CODM compares the actual results of each segment with one another, as well as, to prior periods.
The Americas segment primarily sells to clients throughout North, Central, and South America. The EMEA segment primarily sells to clients in Europe, the Middle East, and Africa. The Asia Pacific segment primarily sells to clients in Asia and Australasia. Segment revenues reflect sales to our clients based on the geographic region where the sale originated.
Each segment records expenses related to its individual operations with the exception of expenditures associated with our data centers, third-party data costs and corporate headquarters charges, which are recorded by the Americas segment and are not allocated to the other segments. The expenses incurred at our global centers of excellence ("COEs"), primarily located in India and the Philippines, are allocated to each segment based on their respective percentage of revenues as this reflects the benefits provided by each segment.
Intercompany revenue and expense amounts have been eliminated within each segment in order to report on the basis that management uses internally for evaluating segment performance.
The following tables reflect the results of operations of our segments:
| (in thousands) | ||||||||||||||
| Year Ended August 31, 2025 | Americas | EMEA | Asia Pacific | Total | ||||||||||
| Revenues | $ | 1,506,108 | $ | 580,284 | $ | 235,356 | $ | 2,321,748 | ||||||
Operating expenses(1) | 1,200,145 | 306,282 | 67,018 | 1,573,445 | ||||||||||
Operating income | $ | 305,963 | $ | 274,002 | $ | 168,338 | $ | 748,303 | ||||||
| Total other income (expense), net | (27,345) | |||||||||||||
| Income before income taxes | $ | 720,958 | ||||||||||||
| Other segment disclosures | ||||||||||||||
Depreciation and amortization | $ | 141,961 | $ | 7,857 | $ | 7,873 | $ | 157,691 | ||||||
| Stock-based compensation | $ | 47,441 | $ | 9,182 | $ | 4,606 | $ | 61,229 | ||||||
Capital expenditures(2) | $ | 95,581 | $ | 5,924 | $ | 7,301 | $ | 108,806 | ||||||
| Year Ended August 31, 2024 | Americas | EMEA | Asia Pacific | Total | ||||||||||
| Revenues | $ | 1,419,901 | $ | 563,128 | $ | 220,027 | $ | 2,203,056 | ||||||
Operating expenses(1) | 1,158,111 | 280,165 | 63,481 | 1,501,757 | ||||||||||
Operating income | $ | 261,790 | $ | 282,963 | $ | 156,546 | $ | 701,299 | ||||||
| Total other income (expense), net | (49,796) | |||||||||||||
| Income before income taxes | $ | 651,503 | ||||||||||||
| Other segment disclosures | ||||||||||||||
Depreciation and amortization | $ | 110,147 | $ | 7,171 | $ | 7,869 | $ | 125,187 | ||||||
| Stock-based compensation | $ | 51,601 | $ | 8,007 | $ | 3,893 | $ | 63,501 | ||||||
Capital expenditures(2) | $ | 77,417 | $ | 3,835 | $ | 4,429 | $ | 85,681 | ||||||
| Year Ended August 31, 2023 | Americas | EMEA | Asia Pacific | Total | ||||||||||
| Revenues | $ | 1,335,484 | $ | 539,843 | $ | 210,181 | $ | 2,085,508 | ||||||
Operating expenses(1) | 1,096,046 | 296,815 | 63,440 | 1,456,301 | ||||||||||
Operating income | $ | 239,438 | $ | 243,028 | $ | 146,741 | $ | 629,207 | ||||||
| Total other income (expense), net | (45,253) | |||||||||||||
| Income before income taxes | $ | 583,954 | ||||||||||||
| Other segment disclosures | ||||||||||||||
| Depreciation and amortization | $ | 89,602 | $ | 7,305 | $ | 8,477 | $ | 105,384 | ||||||
| Stock-based compensation | $ | 51,574 | $ | 7,280 | $ | 3,184 | $ | 62,038 | ||||||
Capital expenditures(2) | $ | 54,609 | $ | 2,317 | $ | 3,860 | $ | 60,786 | ||||||
(1)Operating expenses consist of Cost of services and SG&A costs.
(2)Capital expenditures include purchases of PPE and capitalized internal-use software.
Segment Total Assets
The following table reflects the total assets for our segments:
| As of August 31, | |||||||||||
| (in thousands) | 2025 | 2024 | 2023 | ||||||||
| Segment Assets | |||||||||||
| Americas | $ | 3,523,467 | $ | 3,178,800 | $ | 3,148,192 | |||||
| EMEA | 610,364 | 600,206 | 558,393 | ||||||||
| Asia Pacific | 170,441 | 276,034 | 256,337 | ||||||||
| Total assets | $ | 4,304,272 | $ | 4,055,040 | $ | 3,962,922 | |||||
Geographic Information
The following tables reflect our revenues and long-lived assets, split geographically by our country of domicile (the United States) and other countries where major subsidiaries are domiciled.
Geographic Revenues
The following table sets forth revenues by geography, attributed to countries based on the location of the client:
| (in thousands) | Years ended August 31, | ||||||||||
| 2025 | 2024 | 2023 | |||||||||
| Revenues | |||||||||||
| United States | $ | 1,415,864 | $ | 1,340,350 | $ | 1,265,002 | |||||
| United Kingdom | 231,009 | 221,850 | 223,809 | ||||||||
| Other European Countries | 349,275 | 341,278 | 316,034 | ||||||||
| All Other Countries | 325,600 | 299,578 | 280,663 | ||||||||
Total revenues | $ | 2,321,748 | $ | 2,203,056 | $ | 2,085,508 | |||||
Geographic Long-Lived Assets
The following table sets forth long-lived assets by geographic area. Long-lived assets consist of PPE, net and Lease ROU assets, net and excludes goodwill, intangible assets, deferred taxes and other assets.
| (in thousands) | August 31, | |||||||
| 2025 | 2024 | |||||||
| Long-lived Assets | ||||||||
| United States | $ | 103,545 | $ | 108,208 | ||||
| Philippines | 38,572 | 46,191 | ||||||
| India | 19,482 | 22,159 | ||||||
| United Kingdom | 16,869 | 10,243 | ||||||
| All Other Countries | 28,511 | 26,206 | ||||||
| Total long-lived assets | $ | 206,979 | $ | 213,007 | ||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Oct 22, 2025 | Showing above |
| 2024 | Oct 29, 2024 | |
| 2023 | Oct 27, 2023 | |
| 2022 | Oct 21, 2022 | |
| 2021 | Oct 22, 2021 | |
| 2020 | Oct 29, 2020 | |
| 2019 | Oct 30, 2019 | |
| 2018 | Oct 30, 2018 | |
| 2017 | Oct 30, 2017 | |
| 2016 | Oct 31, 2016 | |
| 2015 | Nov 2, 2015 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.