FactSet Research Systems Inc. (NYSE:FDS) reported record FY26 organic ASV (annual subscription value) growth of 7%, or $168 million, bringing total organic ASV to $2.56 billion and exceeding the high end of guidance. Fourth-quarter organic ASV increased $86 million, the company’s largest quarter ever. Revenue rose 6.3% year over year to more than $634 million in the fourth quarter and reached $2.47 billion for FY26, while adjusted diluted EPS increased 11% to $4.52 in the quarter and 6% to $18.01 for the year. FY26 adjusted operating margin fell about 180 basis points to 34.5% because of structural investments and upfront performance-based compensation expenses. AI-related solutions generated more than 10% of new ASV in the fourth quarter, and clients using those products grew ASV twice as fast as the rest of the client base. More than 650 clients were engaged with MCP (a protocol for connecting AI models to data and tools) contracts or trials at fiscal year-end, with API call volume seven times the prior quarter. FactSet said it is shifting toward longer enterprise agreements, with most renewed ASV secured through enterprise contracts or terms of at least three years, increasing average contract length by roughly 30% while broadly preserving pricing. The company repurchased about $644 million of stock in FY26, reducing shares outstanding by almost 7%, and returned more than $800 million to shareholders through dividends and buybacks. For FY27, FactSet projects organic ASV growth of 5% to 6.5%, reported revenue growth of 5% to 6%, margin improvement of 25 to 75 basis points and adjusted EPS growth in the high single digits. Management said a higher assumed tax rate and incremental interest expense linked to the maturity of 2027 notes would create an estimated 2% headwind to FY27 EPS growth.