Broadridge Financial Solutions, Inc.

TechnologyInformation Technology ServicesNYSE

$149.50

Market Cap: $17.29B

Broadridge Financial Solutions, Inc. (BR) Valuation Summary

Updated May 11, 2026 09:22

Model	Range	Fair Value	Upside
▸ Discounted Cash Flow
Growth Exit 5Y	$67.37 – $237.33	$108.99	-27.1%
Growth Exit 10Y	$80.17 – $263.48	$125.55	-16.0%
EBITDA Exit 5Y	$53.76 – $140.38	$93.45	-37.5%
EBITDA Exit 10Y	$68.91 – $168.29	$111.28	-25.6%
▸ Trading Multiples
P/E	$89.93 – $237.09	$134.02	-10.4%
EV/EBITDA	$114.77 – $278.03	$133.66	-10.6%
EV/Revenue	$47.02 – $87.70	$80.61	-46.1%
▸ PEG
PEG Fair Value	$157.61 – $157.61	$157.61	+5.4%
▸ Earnings Power Value
Earnings Power Value	$46.10 – $76.98	$58.77	-60.7%
▸ Dividend Discount
Dividend Discount	$49.95 – $109.01	$70.48	-52.9%

Valuation History

DCF Analysis

Fair Value

$108.99

Market Price

$149.50

Upside / Downside

-27.1%

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 7.7% 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 $108.99 per share, suggesting BR is overvalued by 27.1% at the current price of $149.50.

FCFF Present Value Calculation

WACC

8.36%

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	978	1,022	1,074	1,114	1,165	1,194
(−) Net Interest	139	145	152	158	165	169
(+) D&A	95	99	109	120	124	127
EBITDA	1,212	1,265	1,335	1,391	1,454	1,490

(−) Tax	201	210	221	229	240	246
(−) CapEx	118	123	129	134	140	144
(−) ΔWC	84	42	50	38	49	51
Free Cash Flow (FCFF)	809	890	934	989	1,024	1,050

Terminal Value						17,926
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	777	789	764	747	714	12,000

Enterprise Value	15,791
Projection Period	3,790	24.0%
Terminal Value	12,000	76.0%

(−) Current Net Debt	2,898

Equity Value	12,893
(/) Outstanding Shares	118

Fair Price	$108.99

Sensitivity Analysis

WACC \ Terminal Growth Rate	1.5%	2.0%	2.5%	3.0%	3.5%
6.4%	$143	$159	$178	$203	$237
7.4%	$115	$124	$136	$151	$170
8.4%	$94	$101	$109	$118	$130
9.4%	$79	$84	$90	$96	$104
10.4%	$67	$71	$75	$80	$85

Current price: $149.50. Green = undervalued, Red = overvalued.

Fair Value

$125.55

Market Price

$149.50

Upside / Downside

-16.0%

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 7.7% 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 $125.55 per share, suggesting BR is overvalued by 16.0% at the current price of $149.50.

FCFF Present Value Calculation

WACC

8.36%

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	978	1,022	1,074	1,114	1,165	1,252	1,335	1,411	1,478	1,536	1,574
(−) Net Interest	139	145	152	158	165	177	189	200	209	218	223
(+) D&A	95	99	109	120	124	129	136	143	151	160	164
EBITDA	1,212	1,265	1,335	1,391	1,454	1,559	1,659	1,754	1,839	1,913	1,961

(−) Tax	201	210	221	229	240	258	275	290	304	316	324
(−) CapEx	118	123	129	134	140	151	161	170	178	185	190
(−) ΔWC	84	42	50	38	49	84	79	73	65	55	57
Free Cash Flow (FCFF)	809	890	934	989	1,024	1,066	1,144	1,220	1,291	1,357	1,391

Terminal Value											23,743
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	777	789	764	747	714	686	679	668	653	633	10,641

Enterprise Value	17,750
Projection Period	7,109	40.1%
Terminal Value	10,641	59.9%

(−) Current Net Debt	2,898

Equity Value	14,853
(/) Outstanding Shares	118

Fair Price	$125.55

Sensitivity Analysis

WACC \ Terminal Growth Rate	1.5%	2.0%	2.5%	3.0%	3.5%
6.4%	$172	$187	$206	$230	$263
7.4%	$137	$146	$157	$171	$188
8.4%	$112	$118	$126	$134	$144
9.4%	$94	$98	$103	$109	$115
10.4%	$80	$83	$86	$90	$95

Current price: $149.50. Green = undervalued, Red = overvalued.

Fair Value

$93.41

Market Price

$149.50

Upside / Downside

-37.5%

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 7.7% 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 10.2x to Year 6 EBITDA. After subtracting net debt, the equity value implies a fair price of $93.45 per share, suggesting BR is overvalued by 37.5% at the current price of $149.50.

FCFF Present Value Calculation

WACC

8.36%

3% – 20%

EV/EBITDA Exit Multiple

10.18x

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	978	1,022	1,074	1,114	1,165	1,194
(−) Net Interest	139	145	152	158	165	169
(+) D&A	95	99	109	120	124	127
EBITDA	1,212	1,265	1,335	1,391	1,454	1,490

(−) Tax	201	210	221	229	240	—
(−) CapEx	118	123	129	134	140	—
(−) ΔWC	84	42	50	38	49	—
Free Cash Flow (FCF)	809	890	934	989	1,024	—

Peers' EBITDA Multiple						10.2x
Terminal Value						15,172
WACC / Discount Rate	8.36%

Timing of FCF (mid year)	0.5	1.5	2.5	3.5	4.5	5
Present Value of FCF	777	789	764	747	714	10,157

Enterprise Value	13,947
Projection Period	3,790	27.2%
Terminal Value	10,157	72.8%

(−) Current Net Debt	2,898
Equity Value	11,050
(÷) Outstanding Shares	118M
Fair Price	$93	-37.5%

Sensitivity Analysis

WACC \ EV/EBITDA Exit Multiple	6.2x	8.2x	10.2x	12.2x	14.2x
6.4%	$66	$85	$103	$122	$140
7.4%	$63	$81	$98	$116	$134
8.4%	$60	$77	$93	$110	$127
9.4%	$57	$73	$89	$105	$121
10.4%	$54	$69	$85	$100	$115

Current price: $149.50. Green = undervalued, Red = overvalued.

Based on default parameters

Fair Value

$111.24

Market Price

$149.50

Upside / Downside

-25.6%

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 7.7% 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 (56% of enterprise value) is derived by applying the industry peer median EV/EBITDA multiple of 10.2x to Year 11 EBITDA. After subtracting net debt, the equity value implies a fair price of $111.28 per share, suggesting BR is overvalued by 25.6% at the current price of $149.50.

FCFF Present Value Calculation

WACC

8.36%

3% – 20%

EV/EBITDA Exit Multiple

10.18x

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	978	1,022	1,074	1,114	1,165	1,252	1,335	1,411	1,478	1,536	1,574
(−) Net Interest	139	145	152	158	165	177	189	200	209	218	223
(+) D&A	95	99	109	120	124	129	136	143	151	160	164
EBITDA	1,212	1,265	1,335	1,391	1,454	1,559	1,659	1,754	1,839	1,913	1,961

(−) Tax	201	210	221	229	240	258	275	290	304	316	—
(−) CapEx	118	123	129	134	140	151	161	170	178	185	—
(−) ΔWC	84	42	50	38	49	84	79	73	65	55	—
Free Cash Flow (FCF)	809	890	934	989	1,024	1,066	1,144	1,220	1,291	1,357	—

Peers' EBITDA Multiple											10.2x
Terminal Value											19,966
WACC / Discount Rate	8.36%

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	777	789	764	747	714	686	679	668	653	633	8,948

Enterprise Value	16,057
Projection Period	7,109	44.3%
Terminal Value	8,948	55.7%

(−) Current Net Debt	2,898
Equity Value	13,160
(÷) Outstanding Shares	118M
Fair Price	$111	-25.6%

Sensitivity Analysis

WACC \ EV/EBITDA Exit Multiple	6.2x	8.2x	10.2x	12.2x	14.2x
6.4%	$97	$115	$132	$150	$168
7.4%	$89	$105	$121	$138	$154
8.4%	$82	$96	$111	$126	$141
9.4%	$75	$89	$102	$116	$129
10.4%	$69	$81	$94	$106	$118

Current price: $149.50. Green = undervalued, Red = overvalued.

Based on default parameters

Trading Multiples

Fair Value

$134.02

Market Price

$149.50

Upside / Downside

-10.4%

Verdict

Overvalued

Using the industry peer median P/E Multiples multiple (trailing + forward), Broadridge Financial Solutions, Inc. (BR) has a fair value of $134.02 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	17,686	21.1x	15.7x
Flex Ltd.FLEX	52,272	61.0x	69.6x
Jabil Inc.JBL	37,469	60.0x	42.3x
Zoom Communications, Inc.ZM	31,938	17.5x	18.4x
Teledyne Technologies IncorporatedTDY	29,223	33.4x	32.4x
HP Inc.HPQ	20,820	8.6x	7.3x
Wipro LimitedWIT	20,744	12.7x	—
Leidos Holdings, Inc.LDOS	16,366	11.7x	12.9x
CDW CorporationCDW	13,387	13.0x	10.6x
Gartner, Inc.IT	10,622	16.4x	13.3x
Industry Median		16.4x	15.9x
(*) Profit after tax		840	1,127
Equity Value		13,802	17,907
(/) Outstanding shares		118	118
Fair Price		$117	$151

Selected Fair Value (avg of trailing + forward)

$134.02

-10.4%

Fair Value

$133.66

Market Price

$149.50

Upside / Downside

-10.6%

Verdict

Overvalued

Using the industry peer median EV/EBITDA multiple (trailing + forward), Broadridge Financial Solutions, Inc. (BR) has a fair value of $133.66 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	17,686	12.2x	11.3x
Flex Ltd.FLEX	52,272	24.4x	26.7x
Jabil Inc.JBL	37,469	21.5x	22.5x
Zoom Communications, Inc.ZM	31,938	12.0x	11.5x
Teledyne Technologies IncorporatedTDY	29,223	21.1x	23.0x
HP Inc.HPQ	20,820	6.8x	6.9x
Wipro LimitedWIT	20,744	9.7x	—
Leidos Holdings, Inc.LDOS	16,366	8.8x	9.2x
CDW CorporationCDW	13,387	9.8x	9.9x
Gartner, Inc.IT	10,622	10.2x	10.6x
Industry Median		10.2x	11.1x
(*) EBITDA		1,693	1,823
= Enterprise Value		17,239	20,180
(-) Net Debt		2,898	2,898
Equity Value		14,341	17,282
(/) Outstanding shares		118	118
Fair Price		$121	$146

Selected Fair Value (avg of trailing + forward)

$133.66

-10.6%

Fair Value

$80.61

Market Price

$149.50

Upside / Downside

-46.1%

Verdict

Overvalued

Using the industry peer median EV/Revenue multiple (trailing + forward), Broadridge Financial Solutions, Inc. (BR) has a fair value of $80.61 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	17,686	3.0x	2.8x
Flex Ltd.FLEX	52,272	1.8x	2.0x
Jabil Inc.JBL	37,469	1.3x	1.4x
Zoom Communications, Inc.ZM	31,938	6.3x	6.1x
Teledyne Technologies IncorporatedTDY	29,223	5.2x	5.6x
HP Inc.HPQ	20,820	0.5x	0.5x
Wipro LimitedWIT	20,744	1.9x	—
Leidos Holdings, Inc.LDOS	16,366	1.2x	1.3x
CDW CorporationCDW	13,387	0.9x	0.9x
Gartner, Inc.IT	10,622	1.9x	2.0x
Industry Median		1.8x	1.7x
(*) Revenue		6,889	7,419
= Enterprise Value		12,450	12,417
(-) Net Debt		2,898	2,898
Equity Value		9,553	9,519
(/) Outstanding shares		118	118
Fair Price		$81	$80

Selected Fair Value (avg of trailing + forward)

$80.61

-46.1%

PEG Fair Value

Fair Value

$157.61

Market Price

$149.50

Upside / Downside

+5.4%

Verdict

Undervalued

Using the PEG framework with analyst consensus forward EPS growth of 16.5% plus 2.3% dividend yield, the company has a fair value of $157.61 based on NTM EPS (FY2026) of $9.53. The current PEG ratio is 0.95.

PEG Ratio

0.95Undervalued

01.02.03.0+

PEG = P/E ÷ (Growth + Yield) = 15.7 ÷ (14.2% + 2.3%) = 0.95

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	14.2%
Dividend Yield	+2.3%
Adjusted Growth (clamped 8–25%)	16.5%
Fair P/E	16.5x
NTM EPS (FY2026)	$9.53
Fair Value	$157.61

Growth Analysis

Forward GrowthActive

Period	EPS Est.	Growth	Analysts
FY2025 (actual)	$7.10	—	—
FY2026E	$9.53	+34.2%	7
FY2027E	$10.36	+8.7%	7
FY2028E	$11.33	+9.4%	7
FY2029E	$12.60	+11.2%	3
FY2030E	$13.80	+9.5%	3

5Y Forward EPS CAGR: 14.2%

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

$58.77

Market Price

$149.50

Upside / Downside

-60.7%

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 $58.77 per share. The EPV range is $46.10 – $76.98 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	8,351	9,850	12,004
(-) Net debt	2,898	2,898	2,898
Equity Value	5,453	6,952	9,107
(/) Outstanding shares	118	118	118
Fair Price	$46.10	$58.77	$76.98

Dividend Discount Model

Fair Value

$70.48

Market Price

$149.50

Upside / Downside

-52.9%

Verdict

Overvalued

Using the Two-Stage Dividend Discount Model with a Cost of Equity of 9.4% and projected dividend growth of 10.5%, the fair value is $70.48 per share. The DDM range is $49.95 – $109.01 based on sensitivity analysis across Cost of Equity and growth rate assumptions.

Dividend Profile

Current DPS

$3.40

Dividend Yield

2.33%

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	$3.76	10.5%	0.9140	$3.43
2027	$4.15	10.5%	0.8354	$3.47
2028	$4.58	10.5%	0.7636	$3.50
2029	$5.06	10.5%	0.6980	$3.53
2030	$5.59	10.5%	0.6380	$3.57
Terminal Value	$5.73 DPS	2.5%		$52.97

PV of Projected Dividends$17.50

PV of Terminal Value$52.97

Fair Value per Share$70.48

Sensitivity Analysis

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

Ke \ Growth	8.5%	9.5%	10.5%	11.5%	12.5%
7.4%	$92	$96	$100	$105	$109
8.4%	$76	$79	$83	$86	$90
9.4%	$65	$68	$70	$73	$76
10.4%	$56	$59	$61	$64	$66
11.4%	$50	$52	$54	$56	$59

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.