Broadridge Financial Solutions, Inc.

TechnologyInformation Technology ServicesNYSE

$143.93

Market Cap: $16.65B

Broadridge Financial Solutions, Inc. (BR) Valuation Summary

Updated Apr 27, 2026 22:21

Model	Range	Fair Value	Upside
▸ Discounted Cash Flow
Growth Exit 5Y	$66.18 – $228.71	$106.61	-31.8%
Growth Exit 10Y	$78.78 – $253.92	$122.83	-21.4%
EBITDA Exit 5Y	$52.39 – $138.25	$91.73	-41.3%
EBITDA Exit 10Y	$67.42 – $165.44	$109.21	-30.2%
▸ Trading Multiples
P/E	$93.11 – $246.38	$125.28	-19.9%
EV/EBITDA	$118.58 – $256.67	$132.85	-15.0%
EV/Revenue	$48.57 – $88.15	$58.11	-62.8%
▸ PEG
PEG Fair Value	$151.19 – $151.19	$151.19	-3.3%
▸ Earnings Power Value
Earnings Power Value	$45.46 – $75.67	$57.88	-63.0%
▸ Dividend Discount
Dividend Discount	$49.14 – $106.70	$69.20	-55.7%

Valuation History

DCF Analysis

Fair Value

$106.61

Market Price

$143.93

Upside / Downside

-25.9%

Verdict

Overvalued

Using an unlevered Free Cash Flow to Firm (FCFF) model, we project Broadridge Financial Solutions, Inc.'s cash flows over 5 years with line-by-line expense modeling. Revenue is projected revenue growing from 6.9% to 4.6% annually, with expenses (COGS, SG&A, R&D) held at historical ratios. Depreciation is computed from a vintage matrix based on a 5-year useful life. Working capital is modeled using historical turnover days (DSO 59, DPO 21, DIO 3). At a 8.4% WACC with mid-year discounting, the terminal value (76% of enterprise value) is derived from the Gordon Growth Model on Year 6 FCFF at a 2.5% perpetual rate. After subtracting net debt, the equity value implies a fair price of $106.61 per share, suggesting BR is overvalued by 25.9% at the current price of $143.93.

FCFF Present Value Calculation

WACC

8.45%

3% – 20%

Terminal Growth

2.50%

0% – 6%

Forecast Period

5 Yrs

+ Terminal Year

Adjust parameters to explore scenarios. Changes are for exploration only and do not affect saved valuations.

Currency: USD Millions

	2026	2027	2028	2029	2030	Terminal
Profit Before Tax	971	1,013	1,069	1,111	1,162	1,191
(−) Net Interest	138	144	152	157	165	169
(+) D&A	95	99	108	119	123	126
EBITDA	1,204	1,255	1,329	1,388	1,450	1,487

(−) Tax	200	209	220	229	239	245
(−) CapEx	117	122	129	134	140	144
(−) ΔWC	77	41	54	40	49	50
Free Cash Flow (FCFF)	810	884	926	985	1,022	1,047

Terminal Value						17,613
WACC / Discount Rate	8.4%
Long-term Growth Rate	2.5%

Timing of FCF (mid year)	0.5	1.5	2.5	3.5	4.5	5
Present Value of FCF	778	783	756	741	709	11,742

Enterprise Value	15,510
Projection Period	3,767	24.3%
Terminal Value	11,742	75.7%

(−) Current Net Debt	2,898

Equity Value	12,612
(/) Outstanding Shares	118

Fair Price	$106.61

Sensitivity Analysis

WACC \ Terminal Growth Rate	1.5%	2.0%	2.5%	3.0%	3.5%
6.4%	$140	$155	$173	$197	$229
7.4%	$112	$122	$133	$147	$165
8.4%	$92	$99	$107	$116	$127
9.4%	$78	$82	$88	$94	$101
10.4%	$66	$70	$74	$78	$84

Current price: $143.93. Green = undervalued, Red = overvalued.

Fair Value

$122.83

Market Price

$143.93

Upside / Downside

-14.7%

Verdict

Overvalued

Using an unlevered Free Cash Flow to Firm (FCFF) model, we project Broadridge Financial Solutions, Inc.'s cash flows over 10 years with analyst estimates for the first 3–5 years, fading toward long-term GDP growth for the remaining years with line-by-line expense modeling. Revenue is projected revenue growing from 6.9% to 3.9% annually, with expenses (COGS, SG&A, R&D) held at historical ratios. Depreciation is computed from a vintage matrix based on a 5-year useful life. Working capital is modeled using historical turnover days (DSO 59, DPO 21, DIO 3). At a 8.4% WACC with mid-year discounting, the terminal value (60% of enterprise value) is derived from the Gordon Growth Model on Year 11 FCFF at a 2.5% perpetual rate. After subtracting net debt, the equity value implies a fair price of $122.83 per share, suggesting BR is fairly valued by 14.7% at the current price of $143.93.

FCFF Present Value Calculation

WACC

8.45%

3% – 20%

Terminal Growth

2.50%

0% – 6%

Forecast Period

5 Yrs

+ Terminal Year

Adjust parameters to explore scenarios. Changes are for exploration only and do not affect saved valuations.

Currency: USD Millions

	2026	2027	2028	2029	2030	2031	2032	2033	2034	2035	Terminal
Profit Before Tax	971	1,013	1,069	1,111	1,162	1,249	1,332	1,407	1,475	1,532	1,571
(−) Net Interest	138	144	152	157	165	177	189	199	209	217	223
(+) D&A	95	99	108	119	123	128	135	143	151	160	164
EBITDA	1,204	1,255	1,329	1,388	1,450	1,555	1,655	1,750	1,835	1,909	1,957

(−) Tax	200	209	220	229	239	257	274	290	304	316	323
(−) CapEx	117	122	129	134	140	151	160	170	178	185	189
(−) ΔWC	77	41	54	40	49	84	79	73	65	55	57
Free Cash Flow (FCFF)	810	884	926	985	1,022	1,063	1,142	1,217	1,288	1,354	1,387

Terminal Value											23,332
WACC / Discount Rate	8.4%
Long-term Growth Rate	2.5%

Timing of FCF (mid year)	0.5	1.5	2.5	3.5	4.5	5.5	6.5	7.5	8.5	9.5	5
Present Value of FCF	778	783	756	741	709	681	674	663	647	627	10,370

Enterprise Value	17,428
Projection Period	7,058	40.5%
Terminal Value	10,370	59.5%

(−) Current Net Debt	2,898

Equity Value	14,531
(/) Outstanding Shares	118

Fair Price	$122.83

Sensitivity Analysis

WACC \ Terminal Growth Rate	1.5%	2.0%	2.5%	3.0%	3.5%
6.4%	$168	$182	$200	$223	$254
7.4%	$134	$143	$154	$167	$183
8.4%	$110	$116	$123	$131	$141
9.4%	$92	$96	$101	$106	$113
10.4%	$79	$82	$85	$89	$93

Current price: $143.93. Green = undervalued, Red = overvalued.

Fair Value

$91.73

Market Price

$143.93

Upside / Downside

-36.3%

Verdict

Overvalued

Using an unlevered Free Cash Flow to Firm (FCFF) model, we project Broadridge Financial Solutions, Inc.'s cash flows over 5 years with line-by-line expense modeling. Revenue is projected revenue growing from 6.9% to 4.6% annually, with expenses (COGS, SG&A, R&D) held at historical ratios. Depreciation is computed from a vintage matrix based on a 5-year useful life. Working capital is modeled using historical turnover days (DSO 59, DPO 21, DIO 3). At a 8.4% WACC with mid-year discounting, the terminal value (73% of enterprise value) is derived by applying the industry peer median EV/EBITDA multiple of 10.1x to Year 6 EBITDA. After subtracting net debt, the equity value implies a fair price of $91.73 per share, suggesting BR is overvalued by 36.3% at the current price of $143.93.

FCFF Present Value Calculation

WACC

8.45%

3% – 20%

EV/EBITDA Exit Multiple

10.07x

1x – 40x

Forecast Period

5 Yrs

+ Terminal Year

Adjust parameters to explore scenarios. Changes are for exploration only and do not affect saved valuations.

Currency: USD Millions

	2026	2027	2028	2029	2030	Terminal
Profit Before Tax	971	1,013	1,069	1,111	1,162	1,191
(−) Net Interest	138	144	152	157	165	169
(+) D&A	95	99	108	119	123	126
EBITDA	1,204	1,255	1,329	1,388	1,450	1,487

(−) Tax	200	209	220	229	239	—
(−) CapEx	117	122	129	134	140	—
(−) ΔWC	77	41	54	40	49	—
Free Cash Flow (FCF)	810	884	926	985	1,022	—

Peers' EBITDA Multiple						10.1x
Terminal Value						14,972
WACC / Discount Rate	8.45%

Timing of FCF (mid year)	0.5	1.5	2.5	3.5	4.5	5
Present Value of FCF	778	783	756	741	709	9,981

Enterprise Value	13,749
Projection Period	3,767	27.4%
Terminal Value	9,981	72.6%

(−) Current Net Debt	2,898
Equity Value	10,851
(÷) Outstanding Shares	118M
Fair Price	$92	-36.3%

Sensitivity Analysis

WACC \ EV/EBITDA Exit Multiple	6.1x	8.1x	10.1x	12.1x	14.1x
6.4%	$65	$83	$101	$120	$138
7.4%	$61	$79	$96	$114	$132
8.4%	$58	$75	$92	$108	$125
9.4%	$55	$71	$87	$103	$119
10.4%	$52	$68	$83	$98	$114

Current price: $143.93. Green = undervalued, Red = overvalued.

Based on default parameters

Fair Value

$109.20

Market Price

$143.93

Upside / Downside

-24.1%

Verdict

Overvalued

Using an unlevered Free Cash Flow to Firm (FCFF) model, we project Broadridge Financial Solutions, Inc.'s cash flows over 10 years with analyst estimates for the first 3–5 years, fading toward long-term GDP growth for the remaining years with line-by-line expense modeling. Revenue is projected revenue growing from 6.9% to 3.9% annually, with expenses (COGS, SG&A, R&D) held at historical ratios. Depreciation is computed from a vintage matrix based on a 5-year useful life. Working capital is modeled using historical turnover days (DSO 59, DPO 21, DIO 3). At a 8.4% WACC with mid-year discounting, the terminal value (55% of enterprise value) is derived by applying the industry peer median EV/EBITDA multiple of 10.1x to Year 11 EBITDA. After subtracting net debt, the equity value implies a fair price of $109.21 per share, suggesting BR is overvalued by 24.1% at the current price of $143.93.

FCFF Present Value Calculation

WACC

8.45%

3% – 20%

EV/EBITDA Exit Multiple

10.07x

1x – 40x

Forecast Period

5 Yrs

+ Terminal Year

Adjust parameters to explore scenarios. Changes are for exploration only and do not affect saved valuations.

Currency: USD Millions

	2026	2027	2028	2029	2030	2031	2032	2033	2034	2035	Terminal
Profit Before Tax	971	1,013	1,069	1,111	1,162	1,249	1,332	1,407	1,475	1,532	1,571
(−) Net Interest	138	144	152	157	165	177	189	199	209	217	223
(+) D&A	95	99	108	119	123	128	135	143	151	160	164
EBITDA	1,204	1,255	1,329	1,388	1,450	1,555	1,655	1,750	1,835	1,909	1,957

(−) Tax	200	209	220	229	239	257	274	290	304	316	—
(−) CapEx	117	122	129	134	140	151	160	170	178	185	—
(−) ΔWC	77	41	54	40	49	84	79	73	65	55	—
Free Cash Flow (FCF)	810	884	926	985	1,022	1,063	1,142	1,217	1,288	1,354	—

Peers' EBITDA Multiple											10.1x
Terminal Value											19,705
WACC / Discount Rate	8.45%

Timing of FCF (mid year)	0.5	1.5	2.5	3.5	4.5	5.5	6.5	7.5	8.5	9.5	5
Present Value of FCF	778	783	756	741	709	681	674	663	647	627	8,758

Enterprise Value	15,816
Projection Period	7,058	44.6%
Terminal Value	8,758	55.4%

(−) Current Net Debt	2,898
Equity Value	12,919
(÷) Outstanding Shares	118M
Fair Price	$109	-24.1%

Sensitivity Analysis

WACC \ EV/EBITDA Exit Multiple	6.1x	8.1x	10.1x	12.1x	14.1x
6.4%	$95	$112	$130	$148	$165
7.4%	$87	$103	$119	$135	$151
8.4%	$80	$95	$109	$124	$139
9.4%	$73	$87	$100	$114	$127
10.4%	$67	$80	$92	$104	$116

Current price: $143.93. Green = undervalued, Red = overvalued.

Based on default parameters

Trading Multiples

Fair Value

$125.50

Market Price

$143.93

Upside / Downside

-12.8%

Verdict

Overvalued

Using the industry peer median P/E Multiples multiple (trailing + forward), Broadridge Financial Solutions, Inc. (BR) has a fair value of $125.50 based on 9 comparable companies in the Information Technology Services industry.

P/E Valuation — Information Technology Services

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing P/E	Forward P/E
Broadridge Financial Solutions, Inc.BR	17,027	20.3x	15.1x
Jabil Inc.JBL	35,955	57.6x	40.6x
Flex Ltd.FLEX	33,120	42.7x	44.1x
Teledyne Technologies IncorporatedTDY	30,361	34.7x	33.7x
Zoom Communications, Inc.ZM	26,765	14.7x	15.5x
Wipro LimitedWIT	21,477	13.1x	—
Leidos Holdings, Inc.LDOS	18,231	13.0x	14.3x
HP Inc.HPQ	18,139	7.5x	6.3x
CDW CorporationCDW	17,170	16.5x	13.5x
Gartner, Inc.IT	10,482	15.4x	12.5x
Industry Median		15.4x	14.9x
(*) Profit after tax		840	1,127
Equity Value		12,943	16,751
(/) Outstanding shares		118	118
Fair Price		$109	$142

Selected Fair Value (avg of trailing + forward)

$125.50

-12.8%

Fair Value

$133.46

Market Price

$143.93

Upside / Downside

-7.3%

Verdict

Overvalued

Using the industry peer median EV/EBITDA multiple (trailing + forward), Broadridge Financial Solutions, Inc. (BR) has a fair value of $133.46 based on 9 comparable companies in the Information Technology Services industry.

EV/EBITDA Valuation — Information Technology Services

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/EBITDA	Forward EV/EBITDA
Broadridge Financial Solutions, Inc.BR	17,027	11.8x	10.9x
Jabil Inc.JBL	35,955	20.7x	21.6x
Flex Ltd.FLEX	33,120	19.7x	19.9x
Teledyne Technologies IncorporatedTDY	30,361	21.9x	23.8x
Zoom Communications, Inc.ZM	26,765	10.0x	9.6x
Wipro LimitedWIT	21,477	10.1x	—
Leidos Holdings, Inc.LDOS	18,231	9.5x	10.0x
HP Inc.HPQ	18,139	6.2x	6.2x
CDW CorporationCDW	17,170	11.7x	11.8x
Gartner, Inc.IT	10,482	10.1x	10.5x
Industry Median		10.1x	11.2x
(*) EBITDA		1,693	1,823
= Enterprise Value		17,046	20,325
(-) Net Debt		2,898	2,898
Equity Value		14,148	17,428
(/) Outstanding shares		118	118
Fair Price		$120	$147

Selected Fair Value (avg of trailing + forward)

$133.46

-7.3%

Fair Value

$58.42

Market Price

$143.93

Upside / Downside

-59.4%

Verdict

Overvalued

Using the industry peer median EV/Revenue multiple (trailing + forward), Broadridge Financial Solutions, Inc. (BR) has a fair value of $58.42 based on 9 comparable companies in the Information Technology Services industry.

EV/Revenue Valuation — Information Technology Services

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
Broadridge Financial Solutions, Inc.BR	17,027	2.9x	2.7x
Jabil Inc.JBL	35,955	1.3x	1.3x
Flex Ltd.FLEX	33,120	1.4x	1.4x
Teledyne Technologies IncorporatedTDY	30,361	5.3x	5.8x
Zoom Communications, Inc.ZM	26,765	5.2x	5.0x
Wipro LimitedWIT	21,477	1.9x	—
Leidos Holdings, Inc.LDOS	18,231	1.3x	1.4x
HP Inc.HPQ	18,139	0.5x	0.5x
CDW CorporationCDW	17,170	1.0x	1.0x
Gartner, Inc.IT	10,482	1.9x	2.0x
Industry Median		1.4x	1.4x
(*) Revenue		6,889	7,419
= Enterprise Value		9,335	10,282
(-) Net Debt		2,898	2,898
Equity Value		6,438	7,385
(/) Outstanding shares		118	118
Fair Price		$54	$62

Selected Fair Value (avg of trailing + forward)

$58.42

-59.4%

PEG Fair Value

Fair Value

$151.19

Market Price

$143.93

Upside / Downside

+5.0%

Verdict

Undervalued

Using the PEG framework with analyst consensus forward EPS growth of 15.9% plus 2.2% dividend yield, the company has a fair value of $151.19 based on NTM EPS (FY2026) of $9.50. The current PEG ratio is 1.03.

PEG Ratio

1.03Fair Value

01.02.03.0+

PEG = P/E ÷ (Growth + Yield) = 16.5 ÷ (13.7% + 2.2%) = 1.03

PEG < 1 = bargain, 1–1.5 = fair, > 2 = expensive.

Growth Category: StalwartPEG highly applicable

PEG works well for steady growers with predictable earnings.

Fair Value Calculation

EPS Growth RateForward	13.7%
Dividend Yield	+2.2%
Adjusted Growth (clamped 8–25%)	15.9%
Fair P/E	15.9x
NTM EPS (FY2026)	$9.50
Fair Value	$151.19

Growth Analysis

Forward GrowthActive

Period	EPS Est.	Growth	Analysts
FY2025 (actual)	$7.10	—	—
FY2026E	$9.50	+33.8%	7
FY2027E	$10.32	+8.6%	7
FY2028E	$11.33	+9.8%	6
FY2029E	$12.35	+9.0%	4
FY2030E	$13.50	+9.3%	3

5Y Forward EPS CAGR: 13.7%

Historical Growth

Year	Net Income	EPS	YoY
FY2021	$547.5M	$4.65	—
FY2022	$539.1M	$4.55	-2.2%
FY2023	$630.6M	$5.30	+16.5%
FY2024	$698.1M	$5.86	+10.6%
FY2025	$839.5M	$7.10	+21.2%

4Y Historical EPS CAGR: 11.2%

Earnings Power Value

Fair Value

$57.88

Market Price

$143.93

Upside / Downside

-59.8%

Verdict

Overvalued

Using the Earnings Power Value framework with a WACC of 8.4% and normalized earnings of $823.1M, the company has a fair value of $57.88 per share. The EPV range is $45.46 – $75.67 based on WACC sensitivity (6.9% – 9.9%).

Currency: USD Millions

	Low	Selected	High
Normalized Earnings	823	823	823
(/) WACC	9.9%	8.4%	6.9%
Enterprise Value	8,275	9,745	11,849
(-) Net debt	2,898	2,898	2,898
Equity Value	5,378	6,847	8,952
(/) Outstanding shares	118	118	118
Fair Price	$45.46	$57.88	$75.67

Dividend Discount Model

Fair Value

$69.20

Market Price

$143.93

Upside / Downside

-51.9%

Verdict

Overvalued

Using the Two-Stage Dividend Discount Model with a Cost of Equity of 9.5% and projected dividend growth of 10.2%, the fair value is $69.20 per share. The DDM range is $49.14 – $106.70 based on sensitivity analysis across Cost of Equity and growth rate assumptions.

Dividend Profile

Current DPS

$3.40

Dividend Yield

2.20%

Payout Ratio

47.9%

Dividend Coverage

2.09x

FCF Payout Ratio38.1%

DPS CAGR (4Y)11.2%

Historical Dividends Per Share

Year	DPS	Payout Ratio	YoY Growth
2025	$3.40	47.9%	+10.0%
2024	$3.09	52.7%	+11.1%
2023	$2.78	52.5%	+13.4%
2022	$2.45	53.9%	+10.4%
2021	$2.22	47.8%	—

Dividend Projections (5-Year)

Year	Projected DPS	Growth	Discount Factor	Present Value
2026	$3.75	10.2%	0.9136	$3.42
2027	$4.13	10.2%	0.8347	$3.45
2028	$4.55	10.2%	0.7625	$3.47
2029	$5.02	10.2%	0.6967	$3.50
2030	$5.53	10.2%	0.6365	$3.52
Terminal Value	$5.67 DPS	2.5%		$51.85

PV of Projected Dividends$17.36

PV of Terminal Value$51.85

Fair Value per Share$69.20

Sensitivity Analysis

Fair value under different Cost of Equity (rows) and DPS Growth Rate (columns) assumptions.

Ke \ Growth	8.2%	9.2%	10.2%	11.2%	12.2%
7.5%	$90	$94	$98	$102	$107
8.5%	$75	$78	$81	$85	$88
9.5%	$64	$66	$69	$72	$75
10.5%	$56	$58	$60	$63	$65
11.5%	$49	$51	$53	$55	$58

Disclaimer: Sweet Value Lab provides estimated intrinsic values for informational purposes only. This is not financial advice. All models rely on assumptions that may not reflect future performance. Always do your own research before making investment decisions.