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of Contents](#i4610256b8fc4436a9acae680c86a7e98_7)\n\nUNITED STATES\n\nSECURITIES AND EXCHANGE COMMISSION\n\nWashington, D.C. 20549\n\n_________________________________________________\n\nForm 10-Q\n\n_________________________________________________\n\nxQUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor the quarterly period ended November 30, 2025\n\nOR\n\n☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor the transition period from ______to ______\n\nCommission File Number: 1-11869\n\n_________________________________________________\n\nFACTSET RESEARCH SYSTEMS INC.\n\n(Exact name of registrant as specified in its charter)\n\n_________________________________________________\n\nDelaware13-3362547\n\n(State or other jurisdiction of\nincorporation or organization)(I.R.S. Employer\nIdentification No.)\n\n45 Glover Avenue, Norwalk, Connecticut\n06850\n\n(Address of principal executive offices)(Zip Code)\n\nRegistrant’s telephone number, including area code: (203) 810-1000\n\nFormer name, former address and former fiscal year, if changed since last report: None\n\n_________________________________________________\n\nSecurities registered pursuant to Section 12(b) of the Act:\n\nTitle of each classTrading Symbols(s)Name of each exchange on which registered\n\nCommon Stock, $0.01 Par ValueFDSNew York Stock Exchange LLC\n\nThe Nasdaq Stock Market\n\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No ☐\n\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes x No ☐\n\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of \"large accelerated filer,\" \"accelerated filer,\" \"smaller reporting company,\" and \"emerging growth company\" in Rule 12b-2 of the Exchange Act.\n\nLarge accelerated filer x   Accelerated filer ☐   Non-accelerated filer ☐   Smaller reporting company ☐   Emerging growth company ☐\n\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\n\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).\n\nYes ☐ No x\n\nIndicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date:\n\nThe number of shares outstanding of the registrant’s common stock, $.01 par value, as of December 29, 2025 was 37,099,259.\n\n[Table of Contents](#i4610256b8fc4436a9acae680c86a7e98_7)\n\nFactSet Research Systems Inc.\n\nForm 10-Q\n\nFor the Quarter Ended November 30, 2025\n\nIndex\n\nPage\n\n[P](#i4610256b8fc4436a9acae680c86a7e98_10)[ART](#i4610256b8fc4436a9acae680c86a7e98_10)[I](#i4610256b8fc4436a9acae680c86a7e98_10)\n\n[FINANCIAL INFORMATION](#i4610256b8fc4436a9acae680c86a7e98_10)\n\n[Item 1.](#i4610256b8fc4436a9acae680c86a7e98_13)\n\n[Financial Statements](#i4610256b8fc4436a9acae680c86a7e98_10)\n\n[Consolidated Statements of Income for the](#i4610256b8fc4436a9acae680c86a7e98_16)three [months ended](#i4610256b8fc4436a9acae680c86a7e98_16) November 30, 2025[and](#i4610256b8fc4436a9acae680c86a7e98_16) November 30, 2024\n\n[4](#i4610256b8fc4436a9acae680c86a7e98_16)\n\n[Consolidated Statements of Comprehensive Income for the](#i4610256b8fc4436a9acae680c86a7e98_19)three months ended November 30, 2025 and November 30, 2024\n\n[5](#i4610256b8fc4436a9acae680c86a7e98_19)\n\n[Consolidated Balance Sheets at](#i4610256b8fc4436a9acae680c86a7e98_25)November 30, 2025[and](#i4610256b8fc4436a9acae680c86a7e98_25)August 31, 2025\n\n[6](#i4610256b8fc4436a9acae680c86a7e98_25)\n\n[Consolidated Statements of Cash Flows for the](#i4610256b8fc4436a9acae680c86a7e98_28)three[months ended](#i4610256b8fc4436a9acae680c86a7e98_16) November 30, 2025[and](#i4610256b8fc4436a9acae680c86a7e98_16) November 30, 2024\n\n[7](#i4610256b8fc4436a9acae680c86a7e98_28)\n\n[Consolidated Statements of Changes in Stockholders’ Equity for the](#i4610256b8fc4436a9acae680c86a7e98_31)three [months ended](#i4610256b8fc4436a9acae680c86a7e98_31) November 30, 2025 and November 30, 2024\n\n[8](#i4610256b8fc4436a9acae680c86a7e98_31)\n\n[Notes to the Consolidated Financial Statements](#i4610256b8fc4436a9acae680c86a7e98_37)\n\n[9](#i4610256b8fc4436a9acae680c86a7e98_37)\n\n[Item 2.](#i4610256b8fc4436a9acae680c86a7e98_109)\n\n[Management’s Discussion and Analysis of Financial Condition and Results of Operations](#i4610256b8fc4436a9acae680c86a7e98_109)\n\n[31](#i4610256b8fc4436a9acae680c86a7e98_109)\n\n[Item 3.](#i4610256b8fc4436a9acae680c86a7e98_145)\n\n[Quantitative and Qualitative Disclosures About Market Risk](#i4610256b8fc4436a9acae680c86a7e98_145)\n\n[46](#i4610256b8fc4436a9acae680c86a7e98_145)\n\n[Item 4.](#i4610256b8fc4436a9acae680c86a7e98_148)\n\n[Controls and Procedures](#i4610256b8fc4436a9acae680c86a7e98_148)\n\n[48](#i4610256b8fc4436a9acae680c86a7e98_148)\n\n[P](#i4610256b8fc4436a9acae680c86a7e98_154)[ART](#i4610256b8fc4436a9acae680c86a7e98_154)[II](#i4610256b8fc4436a9acae680c86a7e98_154)\n\n[OTHER INFORMATION](#i4610256b8fc4436a9acae680c86a7e98_154)\n\n[Item 1.](#i4610256b8fc4436a9acae680c86a7e98_157)\n\n[Legal Proceedings](#i4610256b8fc4436a9acae680c86a7e98_157)\n\n[50](#i4610256b8fc4436a9acae680c86a7e98_157)\n\n[Item 1A.](#i4610256b8fc4436a9acae680c86a7e98_160)\n\n[Risk Factors](#i4610256b8fc4436a9acae680c86a7e98_160)\n\n[50](#i4610256b8fc4436a9acae680c86a7e98_160)\n\n[Item 2.](#i4610256b8fc4436a9acae680c86a7e98_163)\n\n[Unregistered Sales of Equity Securities and Use of Proceeds](#i4610256b8fc4436a9acae680c86a7e98_163)\n\n[50](#i4610256b8fc4436a9acae680c86a7e98_163)\n\n[Item 3.](#i4610256b8fc4436a9acae680c86a7e98_166)\n\n[Defaults Upon Senior Securities](#i4610256b8fc4436a9acae680c86a7e98_166)\n\n[50](#i4610256b8fc4436a9acae680c86a7e98_166)\n\n[Item 4.](#i4610256b8fc4436a9acae680c86a7e98_169)\n\n[Mine Safety Disclosures](#i4610256b8fc4436a9acae680c86a7e98_169)\n\n[50](#i4610256b8fc4436a9acae680c86a7e98_169)\n\n[Item 5.](#i4610256b8fc4436a9acae680c86a7e98_172)\n\n[Other Information](#i4610256b8fc4436a9acae680c86a7e98_172)\n\n[50](#i4610256b8fc4436a9acae680c86a7e98_172)\n\n[Item 6.](#i4610256b8fc4436a9acae680c86a7e98_178)\n\n[Exhibits](#i4610256b8fc4436a9acae680c86a7e98_178)\n\n[51](#i4610256b8fc4436a9acae680c86a7e98_178)\n\n[Signatures](#i4610256b8fc4436a9acae680c86a7e98_181)\n\n[52](#i4610256b8fc4436a9acae680c86a7e98_181)\n\nFor additional information about FactSet Research Systems Inc. and access to its Annual Reports to Stockholders and Securities and Exchange Commission filings, free of charge, please visit FactSet’s website (https://investor.factset.com). Any information on or linked from the website is not incorporated by reference into this Quarterly Report on Form 10-Q.\n\n2\n\n[Table of Contents](#i4610256b8fc4436a9acae680c86a7e98_7)\n\nSpecial Note Regarding Forward-Looking Statements\n\nThis report contains forward-looking statements that express management's current views concerning expectations, estimates, trends, forecasts and projections about future events, trends, contingencies, and circumstances, industries in which FactSet operates and the beliefs and assumptions of management. These statements may include projections of our future financial performance and anticipated trends in our business. In some cases, you can identify these statements by words such as \"may,\" \"might,\" \"will,\" \"should,\" \"expects,\" \"plans,\" \"anticipates,\" \"believes,\" \"estimates,\" \"intends,\" \"projects,\" \"indicates,\" \"predicts,\" \"potential,\" or \"continue,\" and the negatives of those terms and similar expressions. Statements concerning our financial position, business strategy and plans or objectives for future operations are forward-looking statements.\n\nForward-looking statements are not guarantees of future performance and involve a number of known and unknown risks, uncertainties and assumptions. Factors that could cause our actual results, level of activity, performance or achievements to differ materially from those expressed or implied in forward-looking statements include, among others, the factors discussed under Part I, Item 1A. Risk Factors in our Annual Report on Form 10-K for the fiscal year ended August 31, 2025, and Part II, Item 1A. Risk Factors in this Quarterly Report on Form 10-Q, that should be specifically considered. FactSet cautions readers not to place undue reliance on any forward-looking statements, which speak only as of the dates on which they are made. FactSet undertakes no obligations to update or revise any forward-looking statement to reflect results, revised expectations, events or circumstances arising after the date on which it is made, except as required by applicable law.\n\nWe intend that all forward-looking statements we make will be subject to safe harbor protection of the federal securities laws as found in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.\n\n3\n\n[Table of Contents](#i4610256b8fc4436a9acae680c86a7e98_7)\n\nPART I – FINANCIAL INFORMATION"}