Who uses the fundamental chart? We added quick links in the dashboard to better help newbies do things on P123. One of the links is the "Price to Sales vs Hist Mean".
I think it's great. Check out that beautiful support forming for CRM where the Price2Sales now sits at the 3Y median. To get back to the median Price2Sales it implies a 46% upside.
I think the narrative that AI will be putting all these SaaS companies out of business created a huge buying opportunity. FDS is pretty good too 100%+ upside to get back to it's median.
AI agents and LLMs need good quality data. If the idea is that LLMs will just scrape data from the web and that actual people running any amount of money will ditch FactSet and go with high error and incomplete scraped data…I just don’t see it. High quality data is more important with AI agents. Garbage in - garbage out.
Good video here that discusses the risks of AI on SaaS. And why the market might be mispricing a lot of these as they dump on the whole industry without really understanding the nuances.
I agree. You cannot one-shot this (Factset) in the near, foreseeable future, but also the idea is AI can help a well funded competitor build a dataset over some years. Not soon, but eventually
@marco, on an unrelated note, is there a way to see how P123 is calculating its formulas and ratios on the Fundamental Charts? If I wanted to quickly duplicate some interesting thing in there in a screen, for example?
Excellent video and I agree. FactSet is not in any immediate danger, I think. I am just one small example, but I have seen quantum leap in my own API use (including FactSet data through P123) since the release of Claude Cowork, Claude Code and OpenAI’s Codex. But I have been able to integrate alternative data sources with P123 data.
”With this partnership, users can seamlessly combine the structured insights generated from FactSet data, such as company financials, market prices, and estimates, with the unstructured intelligence surfaced by Hebbia’s historical transactions data and Iterative Source Decomposition (ISD) technology. Analysts can now cross-reference trusted market data with internal and external documents in real time, sharpening diligence, enriching models, and driving to conviction faster.”
Integration of data sources is also mentioned in the video. The person being interviewed in the video really knows his stuff. In agreement with your point I think, we might actually see an uptick in the use of quality data sources. At least in the near-term.
I read somewhere that CRM was selling off on concerns that they would sell fewer licence seats. Don’t know whether they’re in a position to increase prices to compensate?
I’ve been piling into Relx PLC recently. It pretty much halved due to speculation that lawyers would switch to Claude instead of Lexis Nexis. Mr Market ignored the value of the high-quality proprietary databases that Relx owns. Now back up 30% after posting a decent set of results. Shocking volatility for a £47bn quality company.
100%+ upside to get back to it's median.
