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IT services · Technology · Fiscal year ends Mar 31
Agilysys reported revenue of $319M in the fiscal year ended Mar 2026, up 15.9% from the year before. Operating income was $43M, an operating margin of 13.5%, and net income was $39M. Operating cash flow of $70M less capital expenditure of $2M left free cash flow of $68M. It held more cash than debt (net cash $117M).
Ranks among the 36 it services companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Revenue | 163 | 198 | 237 | 276 | 319 |
| Cost of revenue | 61.1 | 77.2 | 93.2 | 104 | 119 |
| Gross profit | 102 | 121 | 144 | 172 | 200 |
| Research & development | 46.3 | 50.3 | 56.7 | 62.4 | 72.7 |
| Selling, general & admin | 95.2 | 108 | 129 | 74.0 | 82.0 |
| Operating income | 6.3 | 12.9 | 15.8 | 22.6 | 43.0 |
| Interest expense | 0.0 | 0.0 | 0.0 | 1.5 | 0.5 |
| Pre-tax income | 6.5 | 15.8 | 20.7 | 25.6 | 48.4 |
| Income tax | 0.0 | 1.2 | −65.5 | 2.4 | 9.6 |
| Net income | 6.5 | 14.6 | 86.2 | 23.2 | 38.8 |
| Diluted EPS | 0.18 | 0.49 | 3.17 | 0.82 | 1.37 |
| Diluted shares | 25.5 | 25.9 | 26.8 | 28.3 | 28.4 |
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Cash & equivalents | 97.0 | 113 | 145 | 73.0 | 117 |
| Receivables | 25.2 | 22.4 | 29.4 | 31.5 | 43.1 |
| Inventory | 6.9 | 9.8 | 4.6 | 5.2 | 7.5 |
| Current assets | 136 | 155 | 189 | 124 | 184 |
| Net PP&E | 6.3 | 14.6 | 17.9 | 16.7 | 14.0 |
| Goodwill | 32.8 | 32.6 | 32.8 | 131 | 134 |
| Total assets | 214 | 243 | 350 | 434 | 482 |
| Payables | 9.8 | 9.4 | 9.4 | 12.4 | 12.4 |
| Deferred revenue | 46.1 | 52.1 | 56.1 | 70.7 | 83.0 |
| Current liabilities | 71.5 | 78.5 | 89.4 | 111 | 125 |
| Long-term debt | – | – | 0.0 | 24.0 | 0.0 |
| Total liabilities | 117 | 134 | 114 | 168 | 155 |
| Shareholders' equity | 97.3 | 109 | 236 | 266 | 327 |
| Backlog (remaining obligations) | – | – | – | – | 152 |
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Operating cash flow | 28.5 | 34.5 | 48.2 | 55.1 | 70.0 |
| Capital expenditure | 1.2 | 7.2 | 8.1 | 2.8 | 1.8 |
| Free cash flow | 27.3 | 27.2 | 40.1 | 52.3 | 68.1 |
| Depreciation & amortisation | 2.2 | 1.8 | 3.9 | 3.7 | 3.8 |
| Stock-based compensation | 14.5 | 13.0 | 14.1 | 17.8 | 21.8 |
| Acquisitions | 24.5 | −0.4 | 0.0 | 146 | 0.0 |
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 21.8% | 19.9% | 16.1% | 15.9% |
| Operating income growth (YoY) | – | 103.8% | 22.4% | 43.4% | 90.4% |
| EPS growth (YoY) | – | 172.2% | 546.9% | −74.1% | 67.1% |
| Gross margin | 62.4% | 61.0% | 60.7% | 62.4% | 62.6% |
| Operating margin | 3.9% | 6.5% | 6.6% | 8.2% | 13.5% |
| Net margin | 4.0% | 7.4% | 36.3% | 8.4% | 12.1% |
| Return on equityBlank when equity is negative | 6.7% | 13.3% | 36.4% | 8.7% | 11.9% |
| ROCEEBIT ÷ (assets − current liabilities) | 4.4% | 7.8% | 6.0% | 7.0% | 12.1% |
| Free cash flow margin | 16.8% | 13.7% | 16.9% | 19.0% | 21.3% |
| Cash conversion (CFO ÷ net income) | 4.40x | 2.36x | 0.56x | 2.37x | 1.80x |
| Receivable days | 56 | 41 | 45 | 42 | 49 |
| Inventory days | 41 | 46 | 18 | 18 | 23 |
| Payable days | 58 | 45 | 37 | 44 | 38 |
| Interest cover | 527x | – | – | 14.8x | 87.3x |
| Debt ÷ equity | – | – | 0.00x | 0.09x | 0.00x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | – | – | −145 | −49.0 | −117 |
| Current ratio | 1.91x | 1.97x | 2.11x | 1.11x | 1.47x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.