FactSet Research Systems Inc. stock research
FY2026 Q1
FactSet Research Systems (FDS) Gross Margin — Quarter Ended Nov 30, 2025
Revenue and gross profit increased compared to both the immediately preceding quarter and the same quarter one year earlier. Gross margin improved from the prior quarter but weakened compared to the year-ago period.
Gross margin takeaway
Quarter ended Nov 30, 2025 · FY2026 Q1
Revenue and gross profit increased compared to both the immediately preceding quarter and the same quarter one year earlier. Gross margin improved from the prior quarter but weakened compared to the year-ago period.
- The sequential gross margin improvement coincided with higher revenue and a slightly lower cost of revenue versus the prior quarter.
- Compared to the same quarter a year ago, gross margin weakened, as cost of revenue increased at a faster pace than revenue.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
52.6%
Gross profit
$319.7M
Revenue
$607.6M
Cost of revenue
$287.9M
Quarter-over-quarter change
+1.0 pts
Year-over-year change
-1.9 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Feb 28, 2025 | $570.7M | $301.1M | $269.6M | 52.8% |
| May 31, 2025 | $585.5M | $304.8M | $280.7M | 52.1% |
| Aug 31, 2025 | $596.9M | $308.2M | $288.7M | 51.6% |
| Nov 30, 2025 | $607.6M | $319.7M | $287.9M | 52.6% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Aug 31, 2025
+1.0 pts
Year-over-year change
Nov 30, 2024
-1.9 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The sequential gross margin improvement coincided with higher revenue and a slightly lower cost of revenue versus the prior quarter.
Compared to the same quarter a year ago, gross margin weakened, as cost of revenue increased at a faster pace than revenue.
Monitor the trend in cost of revenue, which increased compared to the year-ago quarter and may influence future gross margin.