olivLaw · US equity research
BR BR
Services-Business Services, NEC · SIC 7389 · Vertical: Services-Business Services, NEC (SIC 7389)
Broadridge Financial Solutions (BR) reported total revenues of 7477 million USD for fiscal 2026, up 9%, while recurring revenues rose 8% to 4878 million USD. For fiscal 2027 the company guides to 6-8% recurring revenue growth at constant currency, so if the trend holds, its growth profile would remain steady.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, BR (BR) stock was 189.29 USD (+3.01% on the day), with market capitalisation 21.4 bn USD, P/E 20.9 on diluted EPS of 9.05 USD over the last 12 months, dividend yield 2.12%, beta 0.45, 52-week range 135.44–232.02 USD. Latest reported quarter (Q1 2027): revenue of 1.7 bn USD (+5.0% YoY), net income of 94.8 m USD (−42.7% YoY), diluted EPS 0.83 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 70.7
- overbought (≥ 70)
- Bollinger (20, 2)
- 162.96 – 190.56
- in the upper half of the band · %B 0.95 · band width 15.6%
- SMA 50 / 200
- 171.73 / 165.48
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 4.57 / 3.68
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +19.0% | −1.1% | +20.1 pp | — |
| 3 months | +15.8% | −0.5% | +16.3 pp | — |
| 6 months | +23.9% | +4.4% | +19.5 pp | — |
| Year to date | −15.2% | +12.3% | −27.5 pp | — |
| 1 year | −15.1% | +13.5% | −28.6 pp | +0.9% |
| 3 years | +6.9% | +76.4% | −69.5 pp | +7.4% |
| 5 years | +8.9% | +63.7% | −54.8 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q1 2027 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | Q4 '26 | Q1 '27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.6 bn | 1.8 bn | 2.1 bn | 1.6 bn | 1.7 bn | 2.0 bn | 2.2 bn | 1.7 bn |
| Cost of revenue | 1.1 bn | 1.2 bn | 1.3 bn | 1.2 bn | 1.2 bn | 1.3 bn | 1.4 bn | 1.2 bn |
| SG&A | 232.8 m | 230.9 m | 271.1 m | 233.9 m | 267.5 m | 267.4 m | 306.7 m | 254.9 m |
| Operating income | 210.7 m | 344.9 m | 498.7 m | 188.8 m | 206.0 m | 359.5 m | 546.3 m | 173.5 m |
| Depreciation & amortisation | 32.8 m | 32.6 m | 33.1 m | 32.7 m | 33.3 m | 35.6 m | 36.1 m | 36.6 m |
| Interest expense | 36.6 m | 33.5 m | 29.8 m | 27.9 m | 27.7 m | 27.3 m | 28.9 m | 30.1 m |
| Income tax | 33.6 m | 67.8 m | 97.3 m | 47.7 m | 85.7 m | 64.3 m | 123.9 m | 14.9 m |
| Net income | 142.4 m | 243.1 m | 374.2 m | 165.4 m | 284.6 m | 276.3 m | 398.1 m | 94.8 m |
| Diluted EPS | 1.20 | 2.05 | 3.16 ≈ | 1.40 | 2.42 | 2.36 | 3.44 ≈ | 0.83 |
| Operating cash flow | 236.7 m ≈ | 360.4 m ≈ | 699.7 m | 42.3 m | 324.8 m ≈ | 301.1 m ≈ | 677.4 m | 93.2 m |
| Capex | 8.8 m ≈ | 11.5 m ≈ | 15.6 m | 15.2 m | 6.3 m ≈ | 13.6 m ≈ | 32.1 m | 15.3 m |
| Dividends paid | 102.8 m ≈ | 103.0 m ≈ | 103.1 m | 103.1 m | 113.8 m ≈ | 113.8 m ≈ | 112.8 m | 111.2 m |
| Share repurchases | 3.6 m ≈ | 300.0 k ≈ | 130.7 m | 150.5 m | 2.0 m ≈ | 200.4 m ≈ | 250.8 m | 200.2 m |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 7 percentile of its own 44-quarter history (min 14.2, median 31.6, max 40.0; quarters with earnings only).
Fiscal years
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 4.4 bn | 4.5 bn | 5.0 bn | 5.7 bn | 6.1 bn | 6.5 bn | 6.9 bn | 7.5 bn |
| Revenue YoY | +0.7% | +3.8% | +10.3% | +14.3% | +6.2% | +7.4% | +5.9% | +8.5% |
| Net income | 482.1 m | 462.5 m | 547.5 m | 539.1 m | 630.6 m | 698.1 m | 839.5 m | 1.1 bn |
| Net income YoY | +12.7% | −4.1% | +18.4% | −1.5% | +17.0% | +10.7% | +20.3% | +33.9% |
| Diluted EPS | 4.06 | 3.95 | 4.65 | 4.55 | 5.30 | 5.86 | 7.10 | 9.60 |
| Diluted EPS YoY | +14.0% | −2.7% | +17.7% | −2.2% | +16.5% | +10.6% | +21.2% | +35.2% |
| net % | 11.1% | 10.2% | 11.0% | 9.4% | 10.4% | 10.7% | 12.2% | 15.0% |
| Free cash flow | 566.4 m | 535.5 m | 588.2 m | 414.5 m | 784.9 m | 998.8 m | 1.1 bn | 1.3 bn |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2026 · 30 Jun 2026
- Cash
- 402.9 m USD
- Financial debt
- 3.3 bn USD
- Net debt
- 2.9 bn USD
- Equity
- 2.8 bn USD
- Total assets
- 8.9 bn USD
- Debt / equity
- 1.15x
- Current ratio
- 1.24x
- ROE
- 40.9%
- ROA
- 12.9%
- FCF margin
- 17.1%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 5.0 bn | 5.7 bn | 6.1 bn | 6.5 bn | 6.9 bn | 7.5 bn | SEC (XBRL)· 04 Aug 2026verified |
| Cost of revenue | 3.6 bn | 4.1 bn | 4.3 bn | 4.6 bn | 4.8 bn | 5.1 bn | SEC (XBRL)· 04 Aug 2026verified |
| Gross profit | 1.4 bn | 1.6 bn ≈ | 1.8 bn ≈ | 1.9 bn ≈ | 2.1 bn ≈ | 2.4 bn ≈ | SEC (XBRL)· 04 Aug 2026derived |
| SG&A | 744.3 m | 832.3 m | 849.0 m | 916.8 m | 948.2 m | 1.1 bn | SEC (XBRL)· 04 Aug 2026verified |
| Operating income | 678.7 m | 759.9 m | 936.4 m | 1.0 bn | 1.2 bn | 1.3 bn | SEC (XBRL)· 04 Aug 2026verified |
| Depreciation & amortisation | 67.4 m | 82.4 m | 84.4 m | 119.8 m | 130.7 m | 137.7 m | SEC (XBRL)· 04 Aug 2026verified |
| EBITDA | 746.1 m ≈ | 842.3 m ≈ | 1.0 bn ≈ | 1.1 bn ≈ | 1.3 bn ≈ | 1.4 bn ≈ | SEC (XBRL)· 04 Aug 2026derived |
| Interest expense | 57.5 m | 87.7 m | 143.7 m | 150.2 m | 135.8 m | 111.8 m | SEC (XBRL)· 04 Aug 2026verified |
| Income tax | 148.7 m | 133.1 m | 164.3 m | 179.3 m | 219.2 m | 321.6 m | SEC (XBRL)· 04 Aug 2026verified |
| Net income | 547.5 m | 539.1 m | 630.6 m | 698.1 m | 839.5 m | 1.1 bn | SEC (XBRL)· 04 Aug 2026verified |
| Diluted EPS | 4.65 | 4.55 | 5.30 | 5.86 | 7.10 | 9.60 | SEC (XBRL)· 04 Aug 2026verified |
| Weighted average diluted shares | 117.8 m | 118.5 m | 119.0 m | 119.1 m | 118.3 m | 117.1 m | SEC (XBRL)· 04 Aug 2026verified |
| Dividend per share | 2.30 | 2.56 | 2.90 | 3.20 | 3.52 | 3.90 | SEC (XBRL)· 04 Aug 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Revenue − Cost of revenue; Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 274.5 m | 224.7 m | 252.3 m | 304.4 m | 561.5 m | 402.9 m | SEC (XBRL)· 04 Aug 2026verified |
| Inventories | 23.2 m | 29.3 m | 34.1 m | 30.5 m | 32.1 m | 35.1 m | SEC (XBRL)· 04 Aug 2026verified |
| Current assets | 1.3 bn | 1.3 bn | 1.4 bn | 1.5 bn | 1.8 bn | 1.7 bn | SEC (XBRL)· 04 Aug 2026verified |
| Property, plant & equipment, net | 177.2 m | 150.9 m | 145.7 m | 162.2 m | 170.1 m | 174.3 m | SEC (XBRL)· 04 Aug 2026verified |
| Goodwill | 3.7 bn | 3.5 bn | 3.5 bn | 3.5 bn | 3.6 bn | 3.8 bn | SEC (XBRL)· 04 Aug 2026verified |
| Intangibles (excl. goodwill) | 1.4 bn | 1.1 bn | 1.5 bn | 1.3 bn | 1.3 bn | 1.2 bn | SEC (XBRL)· 04 Aug 2026verified |
| Total assets | 8.1 bn | 8.2 bn | 8.2 bn | 8.2 bn | 8.5 bn | 8.9 bn | SEC (XBRL)· 04 Aug 2026verified |
| Accounts payable | 248.9 m | 244.9 m | 157.3 m | 314.0 m | 220.3 m | 149.7 m | SEC (XBRL)· 04 Aug 2026verified |
| Short-term debt | 0 | 0 | 1.2 bn | 0 | 499.3 m | 0 | SEC (XBRL)· 04 Aug 2026verified |
| Long-term debt | 3.9 bn | 3.8 bn | 2.2 bn | 3.4 bn | 2.8 bn | 3.3 bn | SEC (XBRL)· 04 Aug 2026verified |
| Current liabilities | 1.3 bn | 1.3 bn | 2.4 bn | 1.4 bn | 1.9 bn | 1.4 bn | SEC (XBRL)· 04 Aug 2026verified |
| Total liabilities | 6.3 bn | 6.2 bn | 6.0 bn | 6.1 bn | 5.9 bn | 6.1 bn | SEC (XBRL)· 04 Aug 2026verified |
| Equity | 1.8 bn † | 1.9 bn † | 2.2 bn † | 2.2 bn † | 2.7 bn † | 2.8 bn † | SEC (XBRL)· 04 Aug 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 640.1 m | 443.5 m | 823.3 m | 1.1 bn | 1.2 bn | 1.3 bn | SEC (XBRL)· 04 Aug 2026verified |
| Capex | 51.9 m | 29.0 m | 38.4 m | 57.4 m | 43.8 m | 67.2 m | SEC (XBRL)· 04 Aug 2026verified |
| Free cash flow | 588.2 m ≈ | 414.5 m ≈ | 784.9 m ≈ | 998.8 m ≈ | 1.1 bn ≈ | 1.3 bn ≈ | SEC (XBRL)· 04 Aug 2026derived |
| Investing cash flow | -2.7 bn | -110.4 m | -80.4 m | -148.0 m | -316.2 m | -452.0 m | SEC (XBRL)· 04 Aug 2026verified |
| Financing cash flow | 1.8 bn | -370.8 m | -714.7 m | -855.5 m | -600.8 m | -1.0 bn | SEC (XBRL)· 04 Aug 2026verified |
| Dividends paid | 261.7 m | 290.7 m | 331.0 m | 368.2 m | 402.3 m | 443.5 m | SEC (XBRL)· 04 Aug 2026verified |
| Share repurchases | 21.5 m | 22.8 m | 24.3 m | 485.4 m | 134.9 m | 603.7 m | SEC (XBRL)· 04 Aug 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 69 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 21.4 bn USD
Key indicators
Coverage and freshness
Score by group
- Balance sheet64
- Growth80
- Quality71
- Returns84
- Valuation59
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 51.25 – 342.05 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)161.94 – 272.49 (Mid 203.97)WACC 8.7% · starting FCFF 1.4 bn USD · terminal value share of EV 75%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: starting growth implied by the price (fading linearly to terminal growth, everything else fixed): 4.3%
- Peers: EV/EBITDA122.64 – 202.56 (Mid 168.38)9 companies used · median multiple 15.5x · quartiles 11.9x – 18.2xCPAY, EBAY, FICO, FIS, GPN, MELI, PYPL, RBA, UBER
- Peers: P/E179.90 – 342.05 (Mid 245.99)11 companies used · median multiple 27.2x · quartiles 19.9x – 37.8xACN, CPAY, EBAY, FICO, FIS, MA, MELI, MSCI, PYPL, RBA, UBER
- Dividend discount (DDM)51.25 – 68.92 (Mid 58.79)
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 69/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 19.1% | 64 (vs peers) | 10% |
| Net margin · Quality | 13.9% | 54 (vs peers) | 6% |
| FCF conversion · Quality | 126.1% | 100 (on a fixed band) | 6% |
| Revenue CAGR 3Y · Growth | 7.2% | 60 (on a fixed band) | 8% |
| EPS CAGR 3Y · Growth | 21.9% | 100 (on a fixed band) | 8% |
| Net debt / EBITDA · Balance sheet | 2.1x | 55 (vs peers) | 10% |
| Interest coverage · Balance sheet | 11.3x | 100 (on a fixed band) | 6% |
| Current ratio · Balance sheet | 1.2x | 35 (on a fixed band) | 4% |
| P/E (TTM) · Valuation | 20.9x | 64 (vs peers) | 10% |
| EV/EBITDA · Valuation | 17.2x | 40 (vs peers) | 10% |
| FCF yield · Valuation | 6.2% | 78 (on a fixed band) | 8% |
| Shareholder yield (distributions) · Returns | 5.2% | 74 (on a fixed band) | 6% |
| Payout ratio (FCF) · Returns | 34.0% | 100 (on a fixed band) | 4% |
Score groups
- Balance sheet64/100 · 3/3 factors with a value
- Growth80/100 · 2/2 factors with a value
- Quality71/100 · 3/3 factors with a value
- Returns84/100 · 2/2 factors with a value
- Valuation59/100 · 3/3 factors with a value
Memo
BROADRIDGE FINANCIAL SOLUTIONS, INC. (BR). Latest full fiscal year: 2026; data up to 2026-09-30.
Figures computed from the financial statements: revenue 7.5 bn USD in 2026; YoY growth 8.5%; net margin 13.9%; ROE 40.2%; net debt/EBITDA 2.1x.
The estimated value range is 142.29–237.53 USD per share (median of 4 methods, agreement: medium); assumptions are illustrative. Against the central value of 186.18 USD, the price of 189.29 USD leaves a potential of -1.6% (value / price − 1) and a margin of safety of -1.7% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 69/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- FCF conversion: 126.1%
- EPS CAGR 3Y: 21.9%
- Interest coverage: 11.3x
- FCF yield: 6.2%
- Shareholder yield (distributions): 5.2%
- Payout ratio (FCF): 34.0%
What contradicts it
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
Versus the vertical median
Services-Business Services, NEC (SIC 7389) · same industry (4-digit SIC) · compared with 13 companies
Only companies with a capitalisation between 2.7 bn and 169.8 bn (within 8× of the company's); 86 of the vertical were left out.
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| UBERUber Technologies, Inc. | 142.7 bn | 41.3 | 12.4% | 6.1% | +18.3% | −20% / +24% |
| MELIMercadoLibre, Inc. | 88.2 bn | 47.3 | 27.5% | 5.3% | +39.1% | −16% / +7% |
| EBAYeBay Inc. | 54.9 bn | 27.2 | 46.6% | 16.9% | +7.9% | +51% / +205% |
| PYPLPayPal Holdings, Inc. | 50.0 bn | 11.5 | 23.8% | 13.8% | +4.3% | −4% / +4% |
| MSCIMsci Inc. | 48.2 bn | 35.7 | — | 40.3% | +9.7% | +20% / +29% |
| FISVFiserv, Inc. | 33.0 bn | — | -17.0% | -18.9% | +3.6% | +1% / −52% |
| CPAYCorpay, Inc | 27.5 bn | 25.4 | 30.5% | 22.7% | +13.9% | +42% / +74% |
| GPNGlobal Payments Inc. | 25.4 bn | — | -4.1% | -9.1% | −0.4% | +27% / −17% |
| BRBroadridge Financial Solutions, Inc. | 21.4 bn | 20.9 | 40.2% | 13.9% | +8.5% | −15% / +7% |
| RBARB Global, Inc | 17.6 bn | 39.9 | 8.8% | 10.0% | +7.2% | −3% / +49% |
| FISFidelity National Information Services, Inc. | 15.3 bn | 4.4 | 23.0% | 26.8% | +5.4% | −55% / −49% |
| FICOFair Isaac Corp | 15.1 bn | 20.3 | — | 34.1% | +15.9% | −61% / −36% |
| ACNAccenture plc | — | 19.5 | 26.7% | 11.3% | +6.5% | +6% / −21% |
| MAMastercard Incorporated | — | 35.2 | 231.4% | 46.7% | +16.4% | +22% / +63% |
1- and 3-year price returns: for BR from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 118.32 Total return -36% · Per year -36% | 208.91 Total return 13% · Per year 13% | 314.31 Total return 69% · Per year 69% |
| 3 years | 121.26 Total return -31% · Per year -11% | 240.29 Total return 34% · Per year 10% | 396.02 Total return 119% · Per year 30% |
| 5 years | 124.28 Total return -25% · Per year -6% | 276.39 Total return 60% · Per year 10% | 498.98 Total return 182% · Per year 23% |
- Exit P/E± 60.07
- Net margin± 42.05
- Annual revenue growth± 33.63
- Annual dilution± 3.53
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 04 Aug 2026; since then the company filed 10-Q (03 Nov 2026), 8-K (03 Nov 2026 · results).
In brief
Broadridge Financial Solutions (BR) reported total revenues of 7477 million USD for fiscal 2026, up 9% 2, while recurring revenues rose 8% to 4878 million USD 2. For fiscal 2027 the company guides to 6-8% recurring revenue growth at constant currency 2, so if the trend holds, its growth profile would remain steady.
SWOT
Strengths
Weaknesses
- Dependence on a relatively small number of large clients, the largest of which accounts for a significant share of revenues 1.
- Revenues are seasonal, concentrated in the later part of the fiscal year, which makes quarterly estimation difficult 1.
- Goodwill is large, so a decline in the fair value of a reporting unit could lead to an impairment 1.
Opportunities
Risks
- Electronic delivery ruleshigh
If SEC rules allow a default switch to electronic delivery, physical communication volumes could fall and weigh on distribution revenues 1.
- Client concentrationhigh
Loss or reduction of business from one of the largest clients could have a significant effect on revenues and results 1.
- Cybersecuritymedium
Security incidents at the company, its clients or vendors could lead to financial losses, litigation and reputational harm 1.
- Disintermediation through tokenizationmedium
Broad adoption of tokenized securities could reduce demand for some current services, and adapting could require large investment 1.
- Goodwill impairmentlow
Because goodwill is large, a decline in the value of a reporting unit could produce a material impairment charge 1.
Investment thesis
What would need to be true (bull case)
- If recurring revenue and earnings per share growth hold, the company could keep funding acquisitions and share repurchases 2.
- Its central role in voting and distribution could be an advantage against new technologies if its products adapt quickly 1.
- Expansion into tokenized assets and agentic AI could open new sources of recurring revenue 12.
What would break the thesis
- If regulation cuts physical distribution volumes, distribution revenues could fall faster than management expects 1.
- Dependence on a few large clients could leave results exposed to mergers or the loss of a major contract 1.
- If fintech entrants or clients bringing services in-house gain ground, growth could slow 1.
What to watch
- Guidance for recurring revenue growth at constant currency2027
- Closed sales and retention of large clientsQ1 2027
- Contribution of recent acquisitions to ICS and GTO growth2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 04 Aug 2026; since then the company filed 10-Q (03 Nov 2026), 8-K (03 Nov 2026 · results).
The business
Broadridge is a global financial technology leader providing solutions to banks, broker-dealers, asset and wealth managers, public companies and mutual funds 1. It operates two reportable segments: Investor Communication Solutions and Global Technology and Operations 1. Its core activities include distributing proxy materials and processing votes through intermediaries, which generate a large part of its revenues 1.
Segments
Market context
The market includes financial institutions that outsource communication and voting processes, as well as global trading infrastructure, where the company processes trades in more than 100 markets 1. Seasonality matters, since most proxy and annual report distribution takes place in the third and fourth fiscal quarters 1.
The financial services industry is consolidating, and regulation directly shapes the volume of communications processed 1. If electronic delivery rules change, some distribution revenues could decline 1.
Trends
- Digitalisation of communicationsmixed
The proposed SEC Regulation E-Delivery could reduce physical document volumes while electronic volumes grow 1. The effect on distribution revenues could be negative.
- Tokenized assetsmixed
Broad adoption of tokenized securities could reduce demand for some traditional processing and communication services, although the company is investing in this area 1.
- Client consolidation in bankingheadwind
Mergers among financial institutions can reduce the client base and increase dependence on a few large clients 1.
- Agentic artificial intelligencetailwind
Use of AI in trading and operations could raise efficiency and attract new clients if the company adapts its products quickly 12.
Competitive position
The company flags disintermediation risk from fintech start-ups and new market entrants, as well as the risk that large institutions bring some services in-house 1. Competitive pressure could increase if clients choose internal solutions.
Competition includes technology providers for financial services and new tokenized-asset platforms that could reduce the share of traditional intermediaries 1.
- DTCC
The depository that holds shares for intermediaries and shapes the settlement and voting processes the company describes 1.
- Fintech post-trade processors
New entrants that could offer registration and communication services on digital platforms, cited as a disintermediation risk 1.
- In-house processing at financial institutions
Large banks and brokers that could take in-house services the company currently provides 1.
- Tokenized-asset platforms
New distributed-ledger infrastructures that could partly replace traditional flows 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
- Tokenized Equities and AI Disruption Threaten Broadridge Financial Solutions’ (BR) Market ShareYahoo Finance — News · 21 Sept 2026 · EN
The latest news item in our archive is from 21 Sept 2026; the newest SEC filing is from 03 Nov 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Quarterly report03 Nov 2026
- Current report03 Nov 2026Results of operations · Financial statements and exhibits
- Current report23 Oct 2026Other events
- Proxy statement29 Sept 2026
- Annual report04 Aug 2026
- Current report04 Aug 2026Results of operations · Other events
- Current report10 Jun 2026Departure or appointment of officers · Financial statements and exhibits
- Current report21 May 2026Other events · Financial statements and exhibits
- Current report15 May 2026Material agreement · Creation of a direct financial obligation · Other events · Financial statements and exhibits
- Current report06 May 2026Material agreement · Other events · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2026-06-30 · SEC / BR · 04 Aug 2026
- [2] Form 8-K, results release (exhibit 99.1) · SEC / BR · 04 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.