Filing Flows › SEI Investments (SEIC) › Q1 2025
SEI Investments (SEIC) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 28, 2025
SEI Investments (SEIC) reported revenue of $551M for the first quarter 2025 (Q1 2025), +8% from a year earlier and -1% from the quarter before. Operating margin was 28.5%, net earnings $152M (27.5% of revenue).
SEI Investments, Q1 2025: revenue $551M (+8% year over year), operating margin 28.5%, net earnings $152M, operating cash flow $146M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $551M | -1% | +8% |
| Gross profit | $193M | +5% | +18% |
| Operating profit | $157M | +8% | +25% |
| Net earnings | $152M | -3% | +15% |
| Operating cash flow | $146M | -25% | +30% |
| Free cash flow | $138M | -28% | +39% |
What changed
Revenue was $551.3M in Q1 2025, up 8% year over year and down 1% from the previous quarter. Investment operations fees was the largest line at 37% of revenue. Investment operations fees added $27.1M year over year (up 15%), 68% of the total change. Investment management fees from pooled investment products declined 5%.
Gross margin was 34.9%, up 2.9 points from a year earlier. Operating profit was $157.1M, a 28.5% margin (up 3.9 points year over year). Of the extra revenue versus a year earlier, 79% reached operating profit, above the 25% margin then. Operating expenses fell 6% while revenue rose 8%. Net earnings were $151.5M, up 15% year over year. The effective tax rate was 22.8%. Non-operating items added $39.3M, 20% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $146.5M (up 30% year over year), 97% of net earnings. Non-cash charges added back $14.1M of share-based compensation. Working capital and other items used $19.2M. Capital expenditures of $8.7M left free cash flow of $137.8M.
Questions
What was SEI Investments' revenue in the first quarter 2025?
SEI Investments (SEIC) reported revenue of $551M for the first quarter 2025 (Q1 2025), +8% from a year earlier and -1% from the quarter before.
Was SEI Investments profitable in the first quarter 2025?
Operating profit was $157M (28.5% of revenue) and net earnings $152M.
Source: SEI Investments 10-Q on SEC EDGAR.