FDS vs NDAQ vs MSCI Stock Comparison

Factset Research Systems, Nasdaq and Msci Prices as of Oct 27, 2026 Peers: Industry group
FDS Factset Research Systems Inc
$309.58 +13.4% 1M +6.6% 1Y
Market cap
$11.35B
P/E
21.3x
Revenue (TTM)
$2.48B
Div. yield
–
Financial Data and Analytics Financial Services
4 wins
NDAQ Nasdaq, Inc.
$104.36 +11.6% 1M +17.5% 1Y
Market cap
$58.95B
P/E
28.3x
Revenue (TTM)
$9.15B
Div. yield
–
Exchanges Financial Services
4 wins
MSCI MSCI Inc.
$601.75 +9.1% 1M +10.0% 1Y
Market cap
$43.68B
P/E
31.6x
Revenue (TTM)
$3.43B
Div. yield
0.01%
Financial Data and Analytics Financial Services
3 wins

Head to Head

11 decided of 12

Nasdaq leads on 4 of the 12 questions below (Nasdaq 4, Factset Research Systems 4, Msci 3). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionFDSNDAQMSCILeader
Larger companyMarket capitalisation $11.35B $58.95B $43.68B NDAQ
Cheaper on earningsLower P/E, profitable companies only 21.3x 28.3x 31.6x FDS
Cheaper on forward earningsLower price / next fiscal year consensus EPS 16.7x 25.9x 29.0x FDS
Faster revenue growthRevenue growth, trailing twelve months +6.7% +11.5% +12.3% MSCI
More profitableNet margin, trailing twelve months 21.5% 22.8% 40.3% MSCI
Better return on capitalReturn on invested capital 16.9% 10.5% 44.1% MSCI
Less leveragedLower net debt / EBITDA 1.3x 2.4x 3.1x FDS
Higher dividend yieldTrailing dividend yield 0.00% 0.00% 0.01% –
Better 1-year returnPrice return, last 12 months +6.6% +17.5% +10.0% NDAQ
Better 5-year returnAnnualised price return, 5 years -6.7%/yr +8.6%/yr -1.7%/yr NDAQ
Less volatileAnnualised volatility, 1 year 48.3% 28.5% 30.9% NDAQ
Higher overall scoreMean of the five percentile scores vs peers 56/100 54/100 53/100 FDS

Percentile Scorecard

FDSNDAQMSCI

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisFDSNDAQMSCI
Valuation 30 #658 of 940 42 #56 of 96 23 #727 of 940
Growth 29 #466 of 655 40 #40 of 66 58 #275 of 655
Profitability 85 #97 of 633 79 #14 of 64 97 #19 of 633
Financial Health 63 #266 of 714 47 #50 of 93 26 #526 of 714
Shareholder Returns 72 #201 of 709 62 #15 of 38 61 #275 of 709
Overall 56 54 53
  • FDS ranked among 1,003 companies in Financial Services
  • NDAQ ranked among 110 companies in Capital Markets
  • MSCI ranked among 1,003 companies in Financial Services

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodFDSNDAQMSCISPY
1 month +13.4%+11.6%+9.1% -0.2%
3 months +9.0%+8.8%+3.8% +3.9%
6 months +34.9%+14.3%+1.2% +8.2%
Year to date +6.7%+7.4%+4.9% +12.9%
1 year +6.6%+17.5%+10.0% +12.3%
3 years -26.4%+119.3%+26.4% +87.4%
3 years, per year -9.7%+29.9%+8.1% +23.3%
5 years -29.4%+51.2%-8.2% +67.9%
5 years, per year -6.7%+8.6%-1.7% +10.9%
10 years +100.7%+389.6%+656.0% +261.1%
10 years, per year +7.2%+17.2%+22.4% +13.7%

Risk

MeasureFDSNDAQMSCISPY
Volatility, 1Y 48.3%28.5%30.9% 12.7%
Downside volatility, 1Y 50.4%29.9%31.9% 12.7%
Beta vs S&P 500, 1Y -0.050.570.30 1.00
Return / volatility, 1Y 0.140.620.32 0.97
Max drawdown, 5Y -61.7%-33.4%-43.9% -25.4%
From 52-week high -7.7%-0.3%-6.5% -1.2%
52-week high $335.45$104.72$643.83 $779.14
52-week low $190.06$76.85$511.84 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleFDSNDAQMSCI
P/E now vs peer median 21.2xmedian 13.0x 28.0xmedian 28.3x 31.4xmedian 13.0x
P/S now vs peer median 4.4xmedian 3.2x 6.4xmedian 2.9x 12.6xmedian 3.2x
EV/EBITDA now vs peer median 13.6xmedian 7.4x 19.6xmedian 13.5x 23.4xmedian 7.4x
P/FCF now vs peer median 15.4xmedian 10.8x 25.8xmedian 16.0x 27.4xmedian 10.8x
P/B now vs peer median 5.5xmedian 1.2x 4.9xmedian 2.4x -14.3xmedian 1.2x
PEG now vs peer median 3.22median 0.87 1.53median 0.54 1.89median 0.87

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsFDSNDAQMSCI
Revenue $2.48B $9.15B $3.43B
Gross profit $1.25B $5.78B $2.85B
Operating income $699.96M $2.73B $1.91B
Net income $533.48M $2.08B $1.38B
Free cash flow $707.48M $2.26B $1.58B
R&D – – $184.30M
EPS (diluted) $14.57 $3.70 $19.14
Cash & equivalents $233.34M $365.00M $261.00M
Total debt $1.37B $8.74B $6.72B
Shares (diluted) 36.61M 563.31M 72.30M
Enterprise value $10.20B $56.38B $42.16B

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricFDSNDAQMSCI
P/E 21.2x 28.0x 31.4x
P/FCF 15.4x 25.8x 27.4x
P/Operating cash flow 13.3x 22.9x 26.7x
P/S 4.4x 6.4x 12.6x
P/B 5.5x 4.9x -14.3x
P/Tangible book 71.6x 9.9x -11.0x
EV/EBITDA 13.6x 19.6x 23.4x
EV/EBIT 17.2x 24.4x 26.0x
EV/Revenue 4.9x 7.3x 14.5x
EV/FCF 17.0x 29.5x 31.5x
EV/Operating cash flow 14.6x 26.1x 30.7x
PEG (3Y EPS CAGR) 3.22 1.53 1.89

Growth

14 metrics
MetricFDSNDAQMSCI
Revenue growth (1Y) 6.7% 11.5% 12.3%
Revenue CAGR (3Y) 5.9% 15.1% 12.4%
Gross profit growth (1Y) 2.4% 13.7% 13.0%
Gross profit CAGR (3Y) 4.1% 16.2% 12.7%
Operating income growth (1Y) -6.5% 23.1% 15.4%
Operating income CAGR (3Y) 3.6% 20.1% 13.0%
Net income growth (1Y) -10.6% 28.2% 13.1%
Net income CAGR (3Y) 4.4% 23.6% 13.0%
EPS growth (1Y) -6.3% 31.8% 19.8%
EPS CAGR (3Y) 6.6% 18.3% 16.6%
Operating cash flow growth (1Y) 13.2% 9.0% 6.4%
Operating cash flow CAGR (3Y) 8.4% 12.8% 11.6%
Free cash flow growth (1Y) 14.6% 7.6% 6.7%
Free cash flow CAGR (3Y) 6.6% 11.6% 11.4%

Profitability

14 metrics
MetricFDSNDAQMSCI
Gross margin 50.6% 63.2% 82.9%
EBITDA margin 35.6% 37.0% 61.6%
Operating margin 28.3% 29.8% 55.7%
Pretax margin 26.2% 28.5% 47.3%
Net margin 21.5% 22.8% 40.3%
FCF margin 28.6% 24.7% 45.9%
Operating cash flow margin 33.2% 27.8% 47.0%
Return on equity 26.4% 17.4% –
Return on assets 12.8% 7.6% 24.7%
Return on invested capital 16.9% 10.5% 44.1%
Return on capital employed 22.8% 12.0% 47.5%
Asset turnover 0.6x 0.3x 0.6x
Cash conversion (OCF / net income) 1.5x 1.2x 1.2x
Stock comp / revenue 3.4% 1.9% 3.7%

Financial Health

11 metrics
MetricFDSNDAQMSCI
Debt / assets 33.1% 31.9% 120.0%
Debt / equity 0.7x 0.7x -2.2x
Net debt / EBITDA 1.3x 2.4x 3.1x
Debt / FCF 1.9x 3.9x 4.3x
Liabilities / assets 51.6% 56.2% 153.9%
Equity / assets 48.4% 43.8% -53.9%
Interest coverage 12.8x 7.9x 6.9x
Current ratio 0.6x 1.0x 0.8x
Quick ratio 0.5x 0.4x 0.7x
Cash ratio 0.2x 0.1x 0.2x
Altman Z-score 5.00 3.48 6.21

Shareholder Returns

7 metrics
MetricFDSNDAQMSCI
Dividend yield 1.5% 1.1% 1.3%
Net buyback yield 5.6% 2.5% 4.7%
Shareholder yield 7.1% 3.6% 6.0%
Payout ratio (earnings) – – 42.1%
Payout ratio (FCF) – – 37.0%
Dividend growth (1Y) – – 6.7%
Dividend CAGR (3Y) – – 10.5%

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusFDSNDAQMSCI
Forward P/E 16.7xFY2027 25.9xFY2026 29.0xFY2026
EPS, next fiscal year $18.55FY2027 $4.03FY2026 $20.78FY2026
EPS growth, next FY +3.0%FY2027 +15.8%FY2026 +20.3%FY2026
EPS growth, the year after +21.9% +11.2% +5.3%
Revenue, next fiscal year $2.68BFY2027 $6.10BFY2026 $3.73BFY2026
Revenue growth, next FY +8.1%FY2027 +16.1%FY2026 +19.2%FY2026
Revenue growth, the year after +9.7% +13.7% +9.7%
FDS estimates →NDAQ estimates →MSCI estimates →

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersFDSNDAQMSCI
Held by institutions 100.0% 83.8% 92.4%
Institutions holding 769 1,082 1,080
Change in shares held, QoQ +6.1% +1.0% +3.6%
Institutions buying 415 538 512
Institutions selling 244 397 407
Buyers to sellers 1.70 1.36 1.26
FDS holders →NDAQ holders →MSCI holders →

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

FDSNDAQMSCI
FDS 1.00 0.49 0.55
NDAQ 0.49 1.00 0.61
MSCI 0.55 0.61 1.00

Add a Peer

Largest companies in the same industry
FDS · Financial Data and Analytics
+MAMastercard +SPGIS&P Global +CMECme +ICEIntercontinental Exchange +MCOMoodys +CBOECboe Global Markets +TWTradeweb Markets +VRSKVerisk Analytics
Plot all 30 Financial Data and Analytics stocks → Plot all 9 Exchanges stocks →

Related Comparisons

FDS vs MAMastercard FDS vs SPGIS&P Global FDS vs CMECme FDS vs ICEIntercontinental Exchange

Frequently Asked Questions

Which is bigger, FDS, NDAQ and MSCI?

Nasdaq (NDAQ) is the largest by market capitalisation: Factset Research Systems (FDS) $11.35B, Nasdaq (NDAQ) $58.95B, Msci (MSCI) $43.68B.

Which stock is cheaper, FDS, NDAQ and MSCI?

Factset Research Systems (FDS) trades on the lowest price-to-earnings ratio (Factset Research Systems (FDS) 21.3x, Nasdaq (NDAQ) 28.3x, Msci (MSCI) 31.6x). On next year's consensus earnings, Factset Research Systems (FDS) is cheapest (Factset Research Systems (FDS) 16.7x, Nasdaq (NDAQ) 25.9x, Msci (MSCI) 29.0x). A lower multiple can reflect slower expected growth, so read it next to the growth figures.

Which company is growing faster?

Msci (MSCI) grew revenue fastest over the trailing twelve months: Factset Research Systems (FDS) +6.7%, Nasdaq (NDAQ) +11.5%, Msci (MSCI) +12.3%.

Which company is more profitable?

Msci (MSCI) has the highest net margin (Factset Research Systems (FDS) 21.5%, Nasdaq (NDAQ) 22.8%, Msci (MSCI) 40.3%). On return on invested capital, Msci (MSCI) leads (Factset Research Systems (FDS) 16.9%, Nasdaq (NDAQ) 10.5%, Msci (MSCI) 44.1%).

Which stock has performed better?

Over the past year Nasdaq (NDAQ) returned the most: Factset Research Systems (FDS) +6.6%, Nasdaq (NDAQ) +17.5%, Msci (MSCI) +10.0%. Over five years, Nasdaq (NDAQ) compounded fastest (Factset Research Systems (FDS) -6.7%/yr, Nasdaq (NDAQ) +8.6%/yr, Msci (MSCI) -1.7%/yr). Returns are price only, before dividends.

Which pays a higher dividend?

Only one of these companies pays a dividend: Factset Research Systems (FDS) 0.00%, Nasdaq (NDAQ) 0.00%, Msci (MSCI) 0.01%. Factset Research Systems (FDS) and Nasdaq (NDAQ) pays no regular dividend.

Which stock is riskier?

By one-year price volatility, Nasdaq (NDAQ) has been the steadiest (Factset Research Systems (FDS) 48.3%, Nasdaq (NDAQ) 28.5%, Msci (MSCI) 30.9%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, FDS, NDAQ and MSCI?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Nasdaq (NDAQ) leads on 4. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.