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SEI Investments cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$208M in Q3 2026 · $665M over twelve months

Operating cash flow$218M
Capital spending−$9.7M
Free cash flow+$208M
Cash / net income1.3×

Analysis

In Q3 2026, SEI Investments generated $218M of operating cash flow and spent $9.7M on capital projects, leaving free cash flow of $208M. That is $21.4M less than in Q3 2025 ($230M).

Over the twelve months to Sep 30, 2026, operating cash flow was $692M; the largest uses were buybacks ($633M), acquisitions ($314M), other investing ($131M); besides operations, cash came from shares issued ($176M), asset & business sales ($1K); the cash balance fell by $372M.

Operating cash flow was $218M against net income of $171M — 1.3× profit, cash ran ahead of reported earnings. The largest differences: accrued liabilities +$57.3M, stock-based pay +$16.0M, payables +$3.4M.

Free cash flow

SEI Investments: free cash flow by quarterSEI Investments: free cash flow by quarter$190MQ4 2024$138MQ1 2025$92.7MQ2 2025$230MQ3 2025$125MQ4 2025$215MQ1 2026$117MQ2 2026$208MQ3 2026
Operating cash flow less capital spending.
SEI Investments: operating cash flow against capital spendingSEI Investments: operating cash flow against capital spendingOperating cash flowCapital spending$195M$5.0MQ4 2024$146M$8.7MQ1 2025$96.5M$3.8MQ2 2025$238M$8.6MQ3 2025$126M$1.6MQ4 2025$222M$6.4MQ1 2026$126M$8.6MQ2 2026$218M$9.7MQ3 2026
Latest (Q3 2026): Operating cash flow $218M, Capital spending $9.7M.

Capital allocation, year by year

SEI Investments: where the cash came from (up) and went (down), by fiscal yearSEI Investments: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $633MFY2021: Net borrowing $40.0MFY2021: Shares issued $55.2MFY2021: Capital spending −$52.5MFY2021: Acquisitions −$80.2MFY2021: Buybacks −$408MFY2021: Dividends −$106M$728MFY2021FY2022: Operating cash flow $566MFY2022: Net borrowing −$40.0MFY2022: Shares issued $58.2MFY2022: Capital spending −$72.8MFY2022: Buybacks −$345MFY2022: Dividends −$110M$624MFY2022FY2023: Operating cash flow $447MFY2023: Shares issued $101MFY2023: Capital spending −$24.8MFY2023: Acquisitions −$56.4MFY2023: Buybacks −$309MFY2023: Dividends −$115M$548MFY2023FY2024: Operating cash flow $622MFY2024: Shares issued $126MFY2024: Asset sales $9.9MFY2024: Capital spending −$32.2MFY2024: Acquisitions −$29.0MFY2024: Buybacks −$500MFY2024: Dividends −$120M$758MFY2024FY2025: Operating cash flow $608MFY2025: Shares issued $144MFY2025: Asset sales $119MFY2025: Capital spending −$22.6MFY2025: Acquisitions −$302MFY2025: Buybacks −$628MFY2025: Dividends −$124M$871MFY2025
Over these 5 years operating cash flow totalled $2.9B; the largest uses were buybacks ($2.2B) and dividends ($575M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$400M
Debt$32.4M
Net cash$367M
Due within a year$5.8M

SEI Investments funds itself: free cash flow was $665M over the last twelve months, and $400M of cash and investments stands against $32.4M of debt ($5.8M due within a year, 69.5× covered by cash).

Where the cash came from and went

SEI Investments: sources (+) and uses (−) of cash, Q3 2026SEI Investments: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$218MBuybacks−$212MShares issued$57.3MOther investing−$39.3MCash drawn (+) / kept (−)−$12.7MCapital spending−$9.7MExchange rates−$697KPartners−$461KOther financing−$132KDividends−$68K
SEI Investments: sources (+) and uses (−) of cash, TTM to Q3 2026SEI Investments: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$692MBuybacks−$633MCash drawn (+) / kept (−)$372MAcquisitions−$314MShares issued$176MOther investing−$131MOther financing−$128MCapital spending−$26.3MExchange rates−$6.7MAsset & business sales$1K

From profit to cash

SEI Investments: net income to operating cash flow, Q3 2026SEI Investments: net income to operating cash flow, Q3 2026Net income$171MStock-based pay$16.0MGains on investments−$1.2MOther non-cash$1.2MPayables$3.4MAccrued liabilities$57.3MDeferred revenue−$2.1MPrepaid and other assets$2.5MOther liabilities$624KOperating cash flow$218M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksDividendsShares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$218M−$9.7M—−$212M−$68K$57.3M−$12.7M$208M
Q2 2026$126M−$8.6M—−$106M—$50.9M−$32.3M$117M
Q1 2026$222M−$6.4M—−$215M−$63.7M$39.6M$30.4M$215M
Q4 2025$126M−$1.6M−$302M−$101M−$857K$28.3M$387M$125M
Q3 2025$238M−$8.6M—−$144M−$44K$28.5M−$111M$230M
Q2 2025$96.5M−$3.8M—−$180M−$61.0M$62.9M−$35.4M$92.7M
Q1 2025$146M−$8.7M—−$204M−$62.3M$24.5M$129M$138M
Q4 2024$195M−$5.0M—−$247M−$8K$63.2M$61.2M$190M

SEI Investments: income statement and cash flow

SEI Investments, Q3 2026: revenue $662M (+14% year over year), operating margin 29.9%. The chart follows the revenue to costs, profit and cash.

SEI Investments: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.