SS&C Technologies
SSNC · NasdaqServices-Prepackaged Software · Fiscal year ends Dec 31
SS&C Technologies reported revenue of $6.3B in the fiscal year ended Dec 2025, up 6.6% from the year before. Operating income was $1.4B, an operating margin of 22.9%, and net income was $797M. Operating cash flow of $1.7B less capital expenditure of $81M left free cash flow of $1.7B. Net debt was $7B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $5.1B | $5.3B | $5.5B | $5.9B | $6.3B |
| Cost of revenue | $2.6B | $2.8B | $2.9B | $3B | $3.3B |
| Gross profit | $2.4B | $2.5B | $2.7B | $2.9B | $3B |
| Research & development | $415M | $447M | $474M | $518M | $508M |
| Operating income | $1.2B | $1.1B | $1.2B | $1.3B | $1.4B |
| Interest expense | $206M | $312M | $476M | $463M | $435M |
| Pre-tax income | $1B | $876M | $858M | $894M | $975M |
| Income tax | $236M | $227M | $249M | $132M | $176M |
| Net income | $800M | $650M | $607M | $761M | $797M |
| Diluted EPS | 2.99 | 2.48 | 2.39 | 3.00 | 3.15 |
| Diluted shares | 267M | 262M | 255M | 254M | 253M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $564M | $440M | $432M | $567M | $462M |
| Receivables | $713M | $779M | $799M | $902M | $979M |
| Current assets | $4.3B | $2.4B | $4.1B | $4.9B | $5.5B |
| Net PP&E | $382M | $344M | $315M | $300M | $290M |
| Goodwill | $8B | $8.9B | $9B | $9.2B | $10B |
| Total assets | $17.3B | $16.7B | $18.1B | $19B | $20.7B |
| Payables | $29M | $50M | $80M | $70M | $87M |
| Deferred revenue | $334M | $465M | $470M | $486M | $492M |
| Current liabilities | $3.9B | $2.2B | $3.8B | $4.4B | $5.1B |
| Short-term debt | $47M | $56M | $52M | $20M | $25M |
| Long-term debt | $5.9B | $7B | $6.7B | $7B | $7.4B |
| Total liabilities | $11.1B | $10.6B | $11.7B | $12.4B | $13.8B |
| Shareholders' equity | $6.2B | $6B | $6.3B | $6.5B | $6.9B |
| Backlog (remaining obligations) | $539M | $1B | $1B | $997M | $1.1B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $1.4B | $1.1B | $1.2B | $1.4B | $1.7B |
| Capital expenditure | $51M | $63M | $57M | $61M | $81M |
| Free cash flow | $1.4B | $1.1B | $1.2B | $1.3B | $1.7B |
| Depreciation & amortisation | $667M | $672M | $670M | $680M | $704M |
| Stock-based compensation | $114M | $125M | $160M | $203M | $258M |
| Acquisitions | −$7M | $1.6B | $34M | $647M | $1.1B |
| Share buybacks | $488M | $476M | $472M | $738M | $1B |
| Dividends paid | $174M | $203M | $221M | $245M | $254M |
| Dividend per share | 0.68 | 0.80 | 0.88 | 0.98 | 1.04 |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 4.6% | 4.2% | 6.9% | 6.6% |
| Operating income growth (YoY) | – | −8.0% | 5.8% | 11.1% | 6.9% |
| EPS growth (YoY) | – | −17.1% | −3.6% | 25.5% | 5.0% |
| Gross margin | 47.7% | 47.6% | 48.2% | 48.7% | 48.2% |
| Operating margin | 24.6% | 21.6% | 22.0% | 22.8% | 22.9% |
| Net margin | 15.8% | 12.3% | 11.0% | 12.9% | 12.7% |
| Return on equityBlank when equity is negative | 13.0% | 10.8% | 9.6% | 11.6% | 11.6% |
| ROCEEBIT ÷ (assets − current liabilities) | 9.2% | 7.9% | 8.4% | 9.1% | 9.2% |
| Free cash flow margin | 27.3% | 20.3% | 21.1% | 22.6% | 26.5% |
| Cash conversion (CFO ÷ net income) | 1.79x | 1.74x | 2.00x | 1.83x | 2.19x |
| Receivable days | 52 | 54 | 53 | 56 | 57 |
| Payable days | 4 | 7 | 10 | 8 | 10 |
| Interest cover | 6.04x | 3.66x | 2.54x | 2.90x | 3.31x |
| Debt ÷ equity | 0.96x | 1.17x | 1.06x | 1.07x | 1.08x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $5.4B | $6.6B | $6.3B | $6.4B | $7B |
| Current ratio | 1.10x | 1.11x | 1.07x | 1.12x | 1.07x |
Recent filings
More in Services-Prepackaged Software
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.