The FY27 guidance of 6-8% recurring revenue growth and 8-12% Adjusted EPS growth represents a modest deceleration from FY26's 8% and 12% respectively, but is in line with long-term targets. The $1.5B buyback authorization (8.4% of market cap) and 12% dividend increase provide downside support. Monitor the December 8 Investor Day for updates on tokenization and AI strategy — these are the key growth catalysts beyond the core franchise.
Price Chart
Executive Summary
Broadridge reported fiscal Q4 2026 results with total revenues up 7% to $2.22B and recurring revenue growth of 8% constant currency. Adjusted EPS of $3.82 beat consensus of $3.76 by 1.6%. The company raised its annual dividend 12% to $4.36/share and authorized a new $1.5B share repurchase program. FY27 guidance calls for 6-8% recurring revenue growth constant currency and 8-12% Adjusted EPS growth, a modest deceleration from FY26's 8% and 12% respectively. The combination of a solid beat, capital return expansion, and in-line guidance supports a moderately bullish read.
Key Financial Metrics
Key Facts
- Q4 total revenues $2.22B, +7% YoY
- Recurring revenue growth 8% constant currency in Q4 and FY26
- Adjusted EPS $3.82 vs consensus $3.76, a 1.6% beat
- FY26 GAAP diluted EPS $9.60, +35% YoY; Adjusted EPS $9.60, +12% YoY
- Annual dividend raised 12% to $4.36/share — 20th consecutive annual increase
- New $1.5B share repurchase authorization approved
- FY27 guidance: 6-8% recurring revenue growth constant currency, 8-12% Adjusted EPS growth
- Free cash flow conversion 110% in FY26, record share repurchases of ~$604M
- Closed sales $305M in FY26, +6% YoY; Q4 closed sales $158M, +39% YoY
- CQG acquisition completed April 2026 for ~$173M
Financial Impact
Q4 revenue $2.22B, operating income $546M, net earnings $398M, free cash flow $1.233B for FY26
Risk Factors
- FY27 guidance implies deceleration in recurring revenue growth from 8% to 6-8%
- Event-driven revenues declined 10% in Q4 due to lower mutual fund proxy revenues
- Adjusted operating margin contracted 10bps in Q4 to 26.9%
- Higher distribution revenue and lower float income continue to pressure margins
- Historical performance shows negative T+20 alpha on prior neutral calls — market may be skeptical
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001383312-26-000022 |
| Exhibit: ex992earnings_presentati.htm | 0001383312-26-000022 |
| Document: br-20260803.htm | 0001383312-26-000022 |
| Document: 0001383312-26-000022-index-headers.html | 0001383312-26-000022 |
| Document: 0001383312-26-000022-index.html | 0001383312-26-000022 |
| Document: 0001383312-26-000022.txt | 0001383312-26-000022 |
| 8-K Data (Synthetic) | 0001383312-26-000022 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 4, 2026 8w ago | 8-K | $168.41 $180.39 | ▲ +7.11% | ▲ +8.35% | $160.26 (−4.84%) |
Aug 2, 2026 8w ago | Institutional Cluster | $157.34 $182.38 | ▲ +15.91% | ▲ +14.68% | $160.26 (+1.85%) |
May 21, 2026 19w ago | 8-K | $149.85 $137.60 | ▼ −8.18% | ▼ −8.72% | $160.26 (+6.94%) |
May 6, 2026 21w ago | 8-K | $152.83 $152.59 | ▼ −0.16% | ▼ −3.29% | $160.26 (+4.86%) |
May 6, 2026 21w ago | 424B5 | $152.83 $152.59 | ▼ −0.16% | ▼ −3.29% | $160.26 (+4.86%) |
May 4, 2026 21w ago | 424B5 | $153.26 $159.96 | ▲ +4.37% | ▼ −1.27% | $160.26 (+4.56%) |
US Market Status
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