BR changes
Pick any two versions below to diff them.
- Price
- $161.10 → $165.45(+2.7%)
- Next earnings
- Nov 4, 2026 → Nov 3, 2026
- Balance sheet
- removed: At June 30, 2026, added: Cash: $403M Debt: $3.3B Net debt: $2.9B EBITDA, last 12 months: $1.8B Net debt / EBITDA: 1.6× (low) Interest cover: 13× Undrawn credit line: $1.2B, to December 2029 Debt due within 12 months: $0.0M Last debt due: 2036 Ratings: Moody's Baa2, S&P BBB, Fitch BBB+ Broadridge's debt removed: was $3,275 million (principal), added: is all senior unsecured debt of the parent removed: company. The added: company, and the subsidiaries added: that run almost all of the removed: business, but they added: business do not guarantee the notes. added: No principal falls due before fiscal 2030, but $2,775 million falls due in fiscal 2030 and 2031. Debt is principal at June 30, 2026. Fixed-rate senior notes make up $2,250 million. They are $750 million at 2.90% due December 2029, $1,000 million at 2.60% due May 2031 and $500 million at 5.75% due May 2036. Floating-rate bank debt makes up $1,025 million: a $750 million term loan due August 2030 and $275 million drawn on the removed: revolver due December 2029. added: revolver. Broadridge repaid $500 million of notes in June 2026. removed: Now no principal falls due before added: EBITDA here is fiscal removed: 2030, but $2,775 million falls due in fiscal 2030 and 2031. Net debt of about $2,870 million was about 1.6 times fiscal 2026 operating income plus depreciation and removed: amortization of about $1,810 million. Operating added: amortization, and interest cover is operating income of $1,301 million removed: covered added: over net interest of $100 removed: million about 13 times. added: million. Reported EBITDA looks higher because it includes $231 million of non-cash gains on Canton Coin digital assets. removed: In May 2026, Moody's rated added: The ratings are those of the new 2036 notes removed: Baa2, S&P rated them BBB and Fitch rated them BBB+. Liquidity was $403 million of cash plus $1,225 million of unused revolver capacity. added: in May 2026. Goodwill and intangibles of about $5.0 billion are larger than equity of $2.8 billion. This is normal for a business built by acquisitions. The moderate debt leaves room for the 12% dividend increase and the new $1.5 billion buyback. As of Jun 30, 2026.
- Checkpoints
- Aug 4, 2026: FY2026 results and FY2027 guidance. Passed. Watch: Recurring revenue growth near 8% and closed sales inside or above the cut $240 to $290 million range pass; lower growth or weaker bookings fail. Outcome: Recurring revenue grew 8% in constant currency, closed sales reached $305 million, and FY2027 guidance called for 6% to 8% recurring revenue growth. Nov removed: 4, added: 3, 2026 (estimate): Q1 FY2027 results: recurring revenue and closed sales. Pending. Watch: Recurring revenue growth on track for the 6% to 8% range and kept guidance pass; growth below 6% or a guidance cut fails. Feb 2027 (estimate): Q2 FY2027 results: bookings and tokenization revenue. Pending. Watch: Closed sales on track for the $290 to $330 million range and first revenue from DLX or digital-asset custody pass; falling bookings fail. Aug 2027 (estimate): FY2027 results and FY2028 guidance. Pending. Watch: Recurring revenue growth of 6% to 8% and closed sales of $290 to $330 million pass; growth below 6% or proxy volume lost to AI or tokenized settlement fails.