SSNC Research | Milton Maxwell

SSNC

SS&C Technologies Holdings, Inc.

86.47

-0.03-0.03%

Dec 16, 4:00:01 PM EST

Upcoming Earnings

Report date

-/-

Earnings Call Transcripts

This Quarter (Q1 '26)

No earnings call transcript available yet

Last Quarter (Q4 '25)

FY Q4 '25

Q&A explains lumps, affirms moat.

2/4/26Feb 4, 2026

Q&A clarified healthcare's Q4 organic weakness as lumpy license timing, with a multimillion-dollar deal closing in early January 2026, while Elevance onboarding stalls amid entrenched ties. Alt admin posted $92 billion organic AUA growth, blending with Kurofun; intelligent automation set to match corporate pace after tough comps. Wealth management shines via Black Diamond's near-$3.5 trillion AUA across 4,000 RIAs. Management touted scale moat versus fintechs, eyeing large M&A opportunities. Answers largely reaffirmed prepared optimism. Confident on even 2026 growth cadence. Investors watch healthcare ramp and deal flow.

Key Stats

Market Cap

21.12B

P/E (TTM)

25.66

Basic EPS (TTM)

3.37

Dividend Yield

0.01%

Recent Filings

10-K

FY2025 results

2/26/26Feb 26, 2026

SS&C Technologies drove FY2025 revenues to $6.3B, up 6.6% y/y, with software-enabled services hitting $5.2B (up 7.7%) on organic growth in fund administration and wealth tech, plus acquisitions like Calastone. Q4 accelerated via FX tailwinds and deal closes, while gross margins held steady at 48%. Yet debt sits at $7.5B after funding buys. Repurchased $1B in shares; cash flow topped $1.7B. Client consolidations threaten demand.

8-K

Record Q4 revenue, strong guidance

2/5/26Feb 5, 2026

SS&C posted record Q4 2025 adjusted revenue of $1,654.6 million, up 8.1%, with adjusted diluted EPS surging 18.2% to $1.69. Organic growth hit 5.3%; operating cash flow soared 25.7% to $1,744.8 million yearly. Cash fuels buybacks. Net leverage sits at 2.80x. Guides FY2026 adjusted revenue to $6,654–$6,814 million.

10-Q

Q3 FY2025 results

10/30/25Oct 30, 2025

SS&C Technologies drove Q3 revenues to $1.6B, up 7.0% y/y, with software-enabled services climbing 8.6% y/y on organic growth in fund administration and investor solutions. Gross margin held steady at 47.7%; operating income rose to $365.7M (up 12.5% y/y, derived), diluted EPS hit $0.83 (up 27.7% y/y), reconciling to 252.6M shares. Cash from operations reached $1.1B YTD; free cash flow not disclosed in the 10-Q. Debt fell to $6.6B (6.1% average rate), with $594M revolver availability and covenant compliance. Closed FPS in Feb 2025 for $6.0M cash; announced Calastone buy Oct 14 for $1.03B cash. Cash dipped to $388M amid $717M buybacks. Volatility in unconsolidated affiliates weighs on earnings.

8-K

Q3 revenue up 7%, cash surges

10/23/25Oct 23, 2025

SS&C posted Q3 GAAP revenue of $1,568 million, up 7.0%, with adjusted revenue hitting a record $1,569 million. Net income jumped 27.7% to $210 million, while nine-month operating cash flow soared 22.1% to $1,101 million. Cash fuels debt paydown and buybacks. Leverage sits at 2.59x.

8-K

SS&C completes Calastone acquisition

10/14/25Oct 14, 2025

SS&C closed its acquisition of Colossus Topco Limited, Calastone's parent and a funds network provider to wealth managers, on October 14, 2025. Funded by $1,050 million incremental Term B-8 loans at SOFR+2.00% maturing May 9, 2031, the deal bolsters SS&C's fund operations tech. Deal accretive within 12 months.

About

SS&C Technologies Holdings, Inc., together with its subsidiaries, provides software products and software-enabled services to financial services and healthcare industries. The company owns and operates technology stack across securities accounting; front-office functions, such as trading and modeling; middle-office functions comprising portfolio management and reporting; back-office functions, such as accounting, performance measurement, reconciliation, reporting, processing and clearing, and compliance and tax reporting; and healthcare solutions consisting of claims adjudication, benefit management, care management, and business intelligence solutions. It also offers software-enabled services, such as SS&C GlobeOp, Global Investor and Distribution Solutions, SS&C Retirement Solutions, CRM Solutions, Managed Services, Data Solutions, ALPS Advisors, and Virtual Data Rooms, as well as pharmacy, healthcare administration, and health outcomes optimization solutions. In addition, the company provides software products, such as portfolio/investment accounting and analytics software, portfolio management software, trading software, automation solutions, and banking and lending solutions, as well as research, analytics, risk, and training solutions. The company also provides professional services that includes consulting and implementation services consisting of initial system installation, conversion of historical data, and ongoing training and support, as well as product support services. It operates in the United States, the United Kingdom, Europe, the Middle East, Africa, the Asia Pacific, Japan, Canada, and the Americas. SS&C Technologies Holdings, Inc. was founded in 1986 and is headquartered in Windsor, Connecticut.

CEO

Mr. William C. Stone

IPO

3/31/2010

Website

https://www.ssctech.com

Employees

26,800

Sector

Technology

Industry

Software - Application