HIGHOutside partyCustomer
82%
buy-side clients
“10-K Item 1: 'Buy-side clients accounted for approximately 82% of our Organic ASV as of August 31, 2025.'”
FDS · Concentration risk · 10-K extracted
FactSet Research Systems (FDS) concentration risks
Updated
The most significant concentration FactSet Research Systems discloses is buy-side clients at 82%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: FactSet Research Systems’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 4 disclosed concentrations
HIGH2
MEDIUM1
LOW1
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
HIGHBuilt-inGeographic
65%
Americas
“10-K Item 1: 'Revenues from the Americas represented 65% of total revenues during fiscal 2025.'”
MEDIUMOutside partySupplier
cloud computing provider
“10-K Item 1: 'one supplier provided the majority of our cloud computing support for fiscal 2025'”
LOWOutside partySupplier
two data suppliers
“10-K Item 1: 'two data suppliers each representing more than 10% of our total data costs during fiscal 2025'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-07-03FactSet's concentration is defined primarily by client type and geography rather than by a narrow customer base. Buy-side clients accounted for approximately 82% of Organic ASV as of August 31, 2025, and the Americas contributed 65% of total revenues during fiscal 2025 — both large-scale, though differently characterized: the buy-side concentration is a dependency on a specific client segment, while the Americas concentration is structural, reflecting where the business is headquartered and most established. On the supply side, one cloud computing provider supplied the majority of cloud computing support for fiscal 2025, a medium dependency exposure, while two data suppliers each represented more than 10% of total data costs, a smaller, low-scale dependency. Taken together, the buy-side client concentration is the exposure most likely to matter for FactSet's growth trajectory, since it represents reliance on a single type of institutional customer rather than a diversified base, while the Americas revenue concentration and the cloud/data supplier dependencies round out a profile where both the demand and infrastructure sides carry disclosed, though not extreme, concentration.
For the engine’s reasoning on FDS’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Financial Data & Stock Exchanges
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| FDS● | FactSet Research Systems Inc. | 2 | 1 | 1 | 4 |
| CBOE | Cboe Global Markets, Inc. | 1 | 0 | 0 | 1 |
| ICE | Intercontinental Exchange Inc. | 1 | 0 | 0 | 1 |
| CME | CME Group Inc. | 0 | 0 | 1 | 1 |
| COIN | Coinbase Global, Inc. | 0 | 0 | 0 | 0 |
| MCO | Moody's Corporation | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.