Last week, I published a 15,000-word deep dive into FactSet, and for readers short on time, you can read our summarised bullet point investment case on the financial market data company below.
Company overview
FactSet is a $11 billion S&P 500 company that provides financial market data via its partnerships and workstations to financial professionals, wealth advisors, investor relations teams and corporates.
FactSet is the 5th largest in the $44.3 billion financial market data industry, and its competitive advantage relative to peers is in research data (equities, private markets and M&A), portfolio analytics and support tools and services to customers.
FactSet also owns the management rights for CUSIP Global Services (CGS), a highly profitable security identification tool for financial services.
Business quality and track record
I classify FactSet as a high moat company for the following 6 reasons.