Fair Isaac
FICO · NYSEServices-Business Services, NEC · Fiscal year ends Sep 30
Fair Isaac reported revenue of $2B in the fiscal year ended Sep 2025, up 15.9% from the year before. Operating income was $925M, an operating margin of 46.5%, and net income was $652M. Operating cash flow of $779M less capital expenditure of $9M left free cash flow of $770M. Net debt was $2.9B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Revenue | $1.3B | $1.4B | $1.5B | $1.7B | $2B |
| Cost of revenue | $332M | $302M | $311M | $348M | $354M |
| Gross profit | $984M | $1.1B | $1.2B | $1.4B | $1.6B |
| Research & development | $171M | $147M | $160M | $172M | $188M |
| Selling, general & admin | $396M | $384M | $401M | $463M | $513M |
| Operating income | $505M | $542M | $643M | $734M | $925M |
| Interest expense | $40M | $69M | $96M | $106M | $134M |
| Pre-tax income | $473M | $471M | $554M | $642M | $803M |
| Income tax | $81M | $98M | $124M | $129M | $151M |
| Net income | $392M | $374M | $429M | $513M | $652M |
| Diluted EPS | 13.40 | 14.18 | 16.93 | 20.45 | 26.54 |
| Diluted shares | 29M | 26M | 25M | 25M | 25M |
Balance sheet
| Fiscal year | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $195M | $133M | $137M | $151M | $134M |
| Receivables | $312M | $322M | $388M | $427M | $529M |
| Current assets | $551M | $485M | $556M | $617M | $705M |
| Net PP&E | $28M | $18M | $11M | $38M | $68M |
| Goodwill | $788M | $761M | $773M | $783M | $783M |
| Total assets | $1.6B | $1.4B | $1.6B | $1.7B | $1.9B |
| Payables | $21M | $17M | $19M | $22M | $32M |
| Deferred revenue | $105M | $120M | $137M | $157M | $187M |
| Current liabilities | $559M | $331M | $368M | $380M | $849M |
| Short-term debt | $250M | $30M | $50M | $15M | $400M |
| Long-term debt | $1B | $1.8B | $1.8B | $2.2B | $2.7B |
| Total liabilities | $1.7B | $2.2B | $2.3B | $2.7B | $3.6B |
| Shareholders' equity | −$111M | −$802M | −$688M | −$963M | −$1.7B |
| Backlog (remaining obligations) | $289M | $357M | $471M | $507M | $656M |
Cash flow
| Fiscal year | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $424M | $509M | $469M | $633M | $779M |
| Capital expenditure | $8M | $6M | $4M | $9M | $9M |
| Free cash flow | $416M | $503M | $465M | $624M | $770M |
| Depreciation & amortisation | $26M | $20M | $15M | $14M | $15M |
| Stock-based compensation | $112M | $115M | $124M | $149M | $157M |
| Acquisitions | $0 | – | – | – | – |
| Share buybacks | $874M | $1.1B | $406M | $822M | $1.4B |
Key ratios
| Fiscal year | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 4.6% | 9.9% | 13.5% | 15.9% |
| Operating income growth (YoY) | – | 7.3% | 18.5% | 14.1% | 26.1% |
| EPS growth (YoY) | – | 5.8% | 19.4% | 20.8% | 29.8% |
| Gross margin | 74.7% | 78.1% | 79.4% | 79.7% | 82.2% |
| Operating margin | 38.4% | 39.4% | 42.5% | 42.7% | 46.5% |
| Net margin | 29.8% | 27.1% | 28.4% | 29.9% | 32.7% |
| ROCEEBIT ÷ (assets − current liabilities) | 50.1% | 48.8% | 53.2% | 54.8% | 90.8% |
| Free cash flow margin | 31.6% | 36.6% | 30.7% | 36.3% | 38.7% |
| Cash conversion (CFO ÷ net income) | 1.08x | 1.36x | 1.09x | 1.23x | 1.19x |
| Receivable days | 87 | 85 | 94 | 91 | 97 |
| Payable days | 23 | 21 | 22 | 24 | 33 |
| Interest cover | 12.6x | 7.86x | 6.73x | 6.94x | 6.92x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $1.1B | $1.7B | $1.7B | $2.1B | $2.9B |
| Current ratio | 0.99x | 1.46x | 1.51x | 1.62x | 0.83x |
Recent filings
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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.