Broadridge Financial Solutions, Inc.
Orin's own judgment of how firmly the evidence points one way — not the chance the price goes up.
Broadridge delivered FY2026 (ended 30 Jun) revenue of $7.48B (up 8.5% YoY) with diluted EPS of $9.60 (up 35.2%), operating margin expansion to 17.4%, and free cash flow of $1.28B at a 17.1% FCF margin — all while trading at a 17.1x PE and 11.2x EV/EBITDA, roughly 21% below the peer median on both metrics.
Consistent EPS beats across the last four quarters (including surprises of 18.7% and 20.9% in Q1 and Q2 FY2026) and the scaling of the Distributed Ledger Repo platform to $7.5 trillion in September 2026 processing volume reinforce the recurring-revenue growth narrative. The stock sits below its 50-day ($169.15) and 200-day ($169.47) moving averages with a neutral RSI of 51.7, offering a reasonable entry for a high-quality franchise with expanding margins and strong cash generation.
What could go wrong
- Net insider selling. Over the trailing 24 months insiders net sold 204,437 shares for $51.98M, with 25 dispositions versus 1 acquisition; recent October 2026 transactions are small grant-related acquisitions, not meaningful open-market buying.
- Technical weakness. Stock at $165.45 trades below both the 50-day MA ($169.15) and 200-day MA ($169.47), suggesting near-term momentum headwinds despite a slightly positive MACD histogram.
- Leverage. Total debt of $3.52B against stockholders' equity of $2.84B as of FY2026 leaves a debt-to-equity ratio above 1.0, which could constrain flexibility if rates remain elevated.
- Smart money conviction is thin. Smart money score of 0.01 as of 30 Jun is only marginally positive, and the 13F data is stale (Q2 2026); institutional positioning is not strongly bullish.
What would change my mind
Where this comes from: FY26 fundamentals · peer comparison · news, 8 Oct · insider trades, last 24 months. Orin's read on BR; not advice.
How has the share price moved?
Down 23.6% over twelve months, from $231.92 on 27 Oct 2025 to $177.09 at the Tue 27 Oct 2026 close. Its highest close in that time was $232.02 on 5 Dec 2025; the last close is 23.7% below it.
- Green line: the closing price each trading day.
- Grey line: the average closing price over the last 50 trading days.
- Dashed amber line: the same over the last 200 trading days — a slower, smoother line.
- Bars along the bottom: shares traded each day — green when it closed higher than the day before, rose when lower (the most, 6.2M, on 20 Mar 2026).
- Flags: the company's filings, on the day they were made (a 10-Q is the quarterly report and a 10-K the annual report; an 8-K reports a major event).
On file
All BR filingsLargest holders · 13F Q2 2026
Money flow| Filer | Position | Of fund |
|---|---|---|
| BlackRock | $1.5B | 0.0% |
| Vanguard Capital Management | $1.0B | 0.0% |
| Vanguard Portfolio Management | $835.4M | 0.0% |
| State Street | $787.8M | 0.0% |
| Charles Schwab Investment Management | $506.7M | 0.1% |
| Geode Capital Management | $451.5M | 0.0% |
| AllianceBernstein | $400.6M | 0.1% |
| Morgan Stanley | $293.6M | 0.0% |
| Invesco | $278.3M | 0.0% |
| Northern Trust | $255.0M | 0.0% |
91 of the 815 filers we track · quarter ended Q2 2026 · positions, not flows
Insiders, last 24 months: 227 Form 4 filings; open-market trades net −$52.0M. Of the 50 on hand, 0 were open-market purchases and 1 a sale — the rest are grants, option exercises and tax withholding.
Ask Orin about BR
Orin answers questions about BR from its filings, transcripts and numbers — with the source behind every claim. Your own desk starts with 3 free days, card required.
Start 3 free days →How is it priced, against its own past and its sector?
Priced at 18.3× its last 12 months of profit (Tue 27 Oct close) — higher than in 1 of its last 5 fiscal years (middle 30.9×); the typical Technology company on the NYSE is at 39.5×.
| Measure | Now | Its usual | Sector |
|---|---|---|---|
| P/E | 18.3×below usual | 30.9× | 39.5× |
| P/S | 2.67×below usual | 3.22× | — |
| EV/EBITDA | 11.6×below usual | 16.8× | — |
| P/B | 7.2×below usual | 8.7× | — |
- "Its usual" is the middle of its own last 5 fiscal years.
P/E: the share price divided by one year of profit per share — roughly how many years of today's profit the price pays for. A company that loses money has no P/E.
P/S: the company's total market value divided by one year of revenue. Used when there is no profit to measure.
EV/EBITDA: the price of the whole company (its shares plus its debt, minus its cash) divided by one year of operating profit before interest, tax and write-downs.
P/B: the share price divided by the book value per share — what the company owns minus what it owes, as its accounts record it. When book value is tiny, P/B swings wildly and says little.
What do the analysts who cover it publish?
The analysts' average 12-month price target is $199 (from $176 to $226) — 12% above the Tue 27 Oct close price. That is their published opinion, not Orin's.
$199
$176 – $226 · +12% against the last close
- 3 buy or overweight
- 3 hold
- 0 underweight or sell
Price target: the share price an analyst publishes for about 12 months ahead. It is the opinion of the firm that wrote it; the average is across the firms that cover the company.
Overweight / underweight: analysts' rating words: overweight means the firm expects the stock to do better than the others it covers, underweight worse. Their words, not Orin's.
How is it priced next to the companies it is compared to?
Priced at 18.3× its last 12 months of profit; the middle P/E of the 6 companies it is compared to that made a profit is 22.3×.
| Company | Market value | P/E | EV/EBITDA | Gross margin | Net margin | ROE |
|---|---|---|---|---|---|---|
| BRBroadridge Financial Solutions, Inc. | $20B | 18.3× | 11.6× | 31.8% | 15.0% | 40% |
| FISFidelity National Information Services, Inc. | $15B | 4.4× | 7.5× | 35.8% | 26.8% | 22% |
| FISVFiserv, Inc. | $25B | 9.1× | 7.0× | 47.2% | 13.4% | 11% |
| ICEIntercontinental Exchange, Inc. | $87B | 21.9× | 15.9× | 79.0% | 32.3% | 14% |
| JKHYJack Henry & Associates, Inc. | $11B | 22.7× | 12.9× | 43.6% | 19.8% | 23% |
| MSCIMSCI Inc. | $44B | 32.0× | 23.8× | 82.9% | 40.3% | n/m |
| NDAQNasdaq, Inc. | $58B | 28.2× | 19.9× | 63.2% | 22.8% | 17% |
- MSCI: return on equity is not meaningful (n/m) — book value is below zero.
- The list of companies is the data vendor's choice, so it can include a company a person would not have picked.
Market value: the share price times the number of shares — what the whole company is priced at.
P/E: the share price divided by one year of profit per share — roughly how many years of today's profit the price pays for. A company that loses money has no P/E.
EV/EBITDA: the price of the whole company (its shares plus its debt, minus its cash) divided by one year of operating profit before interest, tax and write-downs.
Gross margin: the share of each $1 of sales left after the direct cost of making what was sold.
Net margin: the share of each $1 of sales kept as profit after every cost. Below zero, the company lost money.
ROE: return on equity: one year of profit as a share of the shareholders' money in the business (its book value).
Is it priced high or low compared with its own past?
Priced at 18.3× its last 12 months of profit (Tue 27 Oct close). It has no full fiscal year on file since its history starts, so there is nothing of its own to compare with.
- Now18.3×
P/E: the share price divided by one year of profit per share — roughly how many years of today's profit the price pays for. A company that loses money has no P/E.
Fiscal year (FY): the company's own 12-month accounting year, which need not match the calendar year.
How has its sector been priced?
Technology companies on the NYSE were priced at a typical 39.5× their yearly profit (Tue 27 Oct close).
- Now39.5×
- Each year is the middle of that calendar year's daily sector P/E; "Now" is the Tue 27 Oct close figure, the same one in the table above.
Sector P/E: the middle P/E of the companies in the same sector on the same stock exchange, as the data vendor works it out each day.
What does a cash-flow model say a share is worth?
A standard cash-flow model puts it at $189 a share — 6% above the $177.89 price it was computed against (27 Oct).
| Model | Value a share | Against the price then |
|---|---|---|
| Standard | $189 | 6% above $177.89 |
| Levered | $138 | 23% below $177.89 |
Discounted cash flow: a model's estimate of what the company is worth today, from the cash it is forecast to make in future years. Small changes in the forecast move it a lot, and it says little about a company that loses money.
Standard / levered: two versions of the cash-flow model: the standard one counts the cash before the company pays its lenders, the levered one after.