Broadridge Financial Solutions, Inc. BR
Broadridge closed FY2026 (ended 2026-06-30) with revenue of $7.48B (up 8.5% YoY), diluted EPS of $9.60 (up 35.2%), and an operating margin of 17.4% — the fourth consecutive year of margin expansion — while free cash flow reached $1.28B at a 17.1% FCF margin. At 18.2x PE and 12.4x EV/EBITDA, the stock trades at a slight premium to the peer median on earnings but a 2.5% discount on EV/EBITDA, a reasonable valuation for a recurring-revenue franchise whose Distributed Ledger Repo platform processed $8.0 trillion in July 2026 (28% YoY growth).
The stock has rallied 11.9% in the past month to $176.03, lifting RSI to 67 and approaching the 200-day MA of $179.61, which may temper near-term upside even as the fundamental trajectory remains strong.
What could go wrong
- Technical extension. RSI at 67.1 and price 16% above the 50-day MA of $151.58 suggest near-term exhaustion; the 200-day MA at $179.61 may act as resistance.
- Smart money outflows. Smart money score has declined from 0.05 in Q4 2024 to -0.0043 as of Q2 2026, with Bank of America cutting its position by 19.4%.
- Leverage. Total debt of $3.52B against stockholders' equity of $2.84B leaves limited balance-sheet flexibility for large acquisitions or buyback acceleration.
- DLR monetization timeline. Distributed Ledger Repo volumes are growing but the contribution to consolidated revenue and margins is not separately disclosed, creating uncertainty about the growth optionality already priced in.
What would change my mind
Where this comes from: FMP FY2026 annual + derived_metrics · FMP FY2026 annual + derived_metrics · derived_metrics FY2022–FY2026 · FMP FY2026 annual + derived_metrics. Orin's read on BR; not advice.
Twelve months actual closes to 2026-09-23 · actual filings
50-day average 200-day average · volume below
On file
All BR filingsLargest holders · 13F Q2 2026
Money flow| Filer | Position | Of fund |
|---|---|---|
| Vanguard Capital Management | $1.0B | 0.0% of fund |
| Vanguard Portfolio Management | $835.4M | 0.0% of fund |
| State Street | $787.8M | 0.0% of fund |
| Charles Schwab Investment Management | $506.7M | 0.1% of fund |
| Geode Capital Management | $451.5M | 0.0% of fund |
| Alliancebernstein L.P | $400.6M | 0.1% of fund |
88 filers · quarter ended Q2 2026 · positions, not flows
Insiders, last 24 months: 201 Form 4 filings, net $7.9M. Of the 50 on hand, 1 was an open-market purchase 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 →Where it trades
| Metric | Now | Own median | Sector |
|---|---|---|---|
| P/E | 16.9× | 33.1× | 53.3× |
| EV/EBITDA | 11.6× | 17.5× | — |
| P/S | 2.53× | 3.56× | — |
| P/B | 6.6× | 10.3× | — |
Its P/E sits below all 5 of the last 5 years (−11.00σ from its own mean).
3.6%
free-cash-flow growth every year for 10 years, discounted at 10%, is what today’s price implies — starting from $1.3B of trailing free cash flow. It is an assumption the market is making, not a forecast Orin is making.
What Wall Street published
$199
$176 – $226 · +22% against today's price
- 15 buy or overweight
- 9 hold
- 0 underweight or sell
The analysts’ consensus and their own ratings, not Orin’s. A target is a twelve-month opinion published by the firm that wrote it.
Against the companies it is compared to
| Company | Market cap | P/E | EV/EBITDA | Gross | Net | ROE |
|---|---|---|---|---|---|---|
| BRBroadridge Financial Solutions, Inc. | $19B | 16.9× | 11.6× | 31.8% | 15.0% | 40% |
| CDWCDW Corporation | $19B | 17.5× | 13.3× | 21.4% | 4.6% | 43% |
| FLEXFlex Ltd. | $41B | 43.4× | 23.4× | 9.5% | 3.3% | 19% |
| HPQHP Inc. | $29B | 12.1× | 9.5× | 19.8% | 4.1% | -727% |
| ITGartner, Inc. | $12B | 16.0× | 10.3× | 68.9% | 12.0% | 401% |
| JBLJabil Inc. | $32B | 38.1× | 16.4× | 9.2% | 2.6% | 62% |
| LDOSLeidos Holdings, Inc. | $16B | 11.5× | 9.4× | 17.4% | 7.9% | 28% |
| TDYTeledyne Technologies Incorporated | $29B | 29.9× | 19.2× | 39.0% | 15.3% | 9% |
The median is of the 7 peers listed above and nothing else — check it against the column. This company trades 3.6% below it. The peer set is the vendor’s, so a company can appear here that a person would not have chosen.
What it has traded at
What its sector has traded at
Two scales, drawn separately on purpose: a sector median and one company’s multiple are not the same number and putting them on one axis invites a comparison neither series supports.
Discounted cash flow
| Model | Fair value | Against | Computed |
|---|---|---|---|
| Standard DCF | $226 | $148.62 · +52% | 2026-06-10 |
| Levered DCF | $223 | $148.62 · +50% | 2026-06-10 |
The vendor’s intrinsic-value models. Treat them as a low-growth anchor — for a fast grower the market routinely pays well above a DCF. These were computed against the price in the “against” column, not today’s.
Every estimate on one scale
The vertical rule is the current price. Ranges and point estimates are the backend’s, published as they were calculated; an arrow means the estimate sits beyond this scale, and its number is on the right.