The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how financial exchanges & data stocks fared in Q4, starting with FactSet (NYSE: FDS).

Financial exchanges and data providers operate trading platforms and sell market information. They enjoy relatively stable revenue from trading fees and subscriptions, increasing demand for data analytics, and expansion opportunities in emerging markets. Challenges include regulatory oversight of market structure, competition from alternative trading venues, and substantial technology investments needed to maintain low-latency trading infrastructure and data security.

The 10 financial exchanges & data stocks we track reported a satisfactory Q4. As a group, revenues beat analysts’ consensus estimates by 0.8%.

In light of this news, share prices of the companies have held steady as they are up 3.7% on average since the latest earnings results.

FactSet (NYSE: FDS)

Founded in 1978 when financial data was still primarily delivered through paper reports, FactSet (NYSE: FDS) provides financial data, analytics, and technology solutions that investment professionals use to research, analyze, and manage their portfolios.

FactSet reported revenues of $607.6 million, up 6.9% year on year. This print exceeded analysts’ expectations by 1.3%. Despite the top-line beat, it was still a mixed quarter for the company with a solid beat of analysts’ EBITDA estimates but full-year EPS guidance slightly missing analysts’ expectations.

Unsurprisingly, the stock is down 27.4% since reporting and currently trades at $215.00.

Is now the time to buy FactSet? Access our full analysis of the earnings results here, it’s free.

Best Q4: Morningstar (NASDAQ: MORN)

Founded in 1984 by Joe Mansueto with just $80,000 in personal savings, Morningstar (NASDAQ: MORN) provides independent investment data, research, and analysis tools that help investors, advisors, and institutions make informed financial decisions.

Morningstar reported revenues of $641.1 million, up 8.5% year on year, outperforming analysts’ expectations by 2.2%. The business had an exceptional quarter with a beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.

Morningstar scored the biggest analyst estimates beat among its peers. The market seems happy with the results as the stock is up 18.9% since reporting. It currently trades at $183.16.

Is now the time to buy Morningstar? Access our full analysis of the earnings results here, it’s free.

Weakest Q4: S&P Global (NYSE: SPGI)

Tracing its roots back to 1860 when it published the first railroad industry manual, S&P Global (NYSE: SPGI) provides credit ratings, market intelligence, commodity data, automotive analytics, and financial indices that help investors and businesses make decisions.

S&P Global reported revenues of $3.92 billion, up 9% year on year, in line with analysts’ expectations. It was a slower quarter as it posted full-year EPS guidance meeting analysts’ expectations and a miss of analysts’ EPS estimates.

As expected, the stock is down 1% since the results and currently trades at $439.71.

Read our full analysis of S&P Global’s results here.

Moody's (NYSE: MCO)

Founded in 1900 during America's railroad boom when investors needed reliable information on bond risks, Moody's (NYSE: MCO) provides credit ratings, risk assessment tools, and analytical solutions that help organizations evaluate financial risks and make informed investment decisions.

Moody's reported revenues of $1.89 billion, up 13% year on year. This print surpassed analysts’ expectations by 1.6%. Overall, it was a strong quarter as it also recorded full-year EPS guidance meeting analysts’ expectations and a beat of analysts’ EPS estimates.

The stock is up 12.7% since reporting and currently trades at $477.00.

Read our full, actionable report on Moody's here, it’s free.

MarketAxess (NASDAQ: MKTX)

Pioneering the shift from phone-based to electronic bond trading since 2000, MarketAxess (NASDAQ: MKTX) operates electronic trading platforms that enable institutional investors and broker-dealers to efficiently trade fixed-income securities like corporate and government bonds.

MarketAxess reported revenues of $209.4 million, up 3.5% year on year. This result lagged analysts' expectations by 0.9%. Taking a step back, it was a mixed quarter as it also recorded a beat of analysts’ EPS estimates but a slight miss of analysts’ EBITDA estimates.

MarketAxess had the weakest performance against analyst estimates and slowest revenue growth among its peers. The stock is up 18% since reporting and currently trades at $192.15.

Read our full, actionable report on MarketAxess here, it’s free.

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