- Price
- $161.10 → $165.45(+2.7%)
- Discount
- 35.6% → 33.8%(−1.7 pts)
- Next earnings
- 2026-11-04 → 2026-11-03
- Balance sheet
- At June 30, 2026, Broadridge's debt wasCash: $403M
Debt: $3.3B
Net debt: $2.9B
EBITDA,275 million last 12 months: $1.8B
Net debt / EBITDA: 1.6× (principallow)
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 is all senior unsecured debt of the parent company. The, and the subsidiaries that run almost all of the business, but they do not guarantee the notes. 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 revolver due December 2029. Broadridge repaid $500 million of notes in June 2026. Now no principal falls due beforeEBITDA here is fiscal 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 amortization of about $1,810 million. Operating and interest cover is operating income of $1,301 million coveredover net interest of $100 million about 13 times. Reported EBITDA looks higher because it includes $231 million of non-cash gains on Canton Coin digital assets. In May 2026, Moody's ratedThe ratings are those of the new 2036 notes Baa2, S&P rated them BBB and Fitch rated them BBB+in May 2026. Liquidity was $403 million of cash plus $1,225 million of unused revolver capacity. 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 2026-06-30.
- 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 43, 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.