Broadridge Financial Solutions, Inc. (BR) Stock Analysis

Research · Sep 3, 2026

[BR] Broadridge Financial Thesis 2026: Recurring Revenue and Earnings Compound Into Guided Growth

Broadridge Financial Solutions Inc. FY25 (Jun year-end) revenue $6.89B (+6%); op income $1.19B (+17%); NI $840M (+20%); EPS $7.10 (+21%). Recurring revenue +7% cc; adj EPS +11%. Governance recurring +6% to $2.7B; equity proxy digitization >90% / fund >77%; Acolin acquired. Capital Markets +6% to $1.1B; NYFIX + OpsGPT (AI) + distributed ledger repo daily volumes >$200B. Wealth & Investment Management recurring +12% (SIS acquisition); excl E*TRADE deconversion organic +5%; Sentry private credit +8%. FCF $1.1B FY25 (+12%). Three-pillar strategy: democratization/digitization governance + simplification/innovation capital markets + modernization wealth management. FY26 guide: recurring revenue growth +5-7% cc; adj EPS growth +8-12%; closed sales $290M-$330M; event-driven revenues expected to decline (above historical average); recurring revenue backlog $430M.

Research · Aug 25, 2026

Retail Brokerage Options Trading Surges After Pattern Day Trader Repeal

Since the pattern day trader rule ended on 4 June 2026, Webull's options contracts rose 34% sequentially against 7% for equity notional, and Cboe measured it.

Research · Mar 12, 2026

Northern Trust Joins ICE ETF Hub: What It Means for the $10T ETF Back-Office Battle

Northern Trust's decision to join the ICE ETF Hub marks a consolidation milestone in the $10 trillion ETF back-office market. ICE is the structural winner as the platform landlord, BNY Mellon leads on scale, State Street offers the deepest value, Northern Trust is the most compelling turnaround, and Broadridge provides contrarian recurring-revenue exposure after a 19% drawdown.

Research · Mar 12, 2026

At what scale does ICE's ETF Hub become a winner-take-most platform — and is it approaching that threshold?

ICE's ETF Hub is approaching a winner-take-most threshold as Northern Trust's addition means three of the four largest U.S. ETF custodians now route through a single platform, covering an estimated 70-80% of custody assets. ICE is the clearest beneficiary of platform network effects, while custodian banks like BNY and State Street gain operational efficiencies but risk ceding pricing power, and middleware providers Broadridge and SS&C face long-term displacement risk.