Filing Flows › SEI Investments (SEIC) › Q2 2025
SEI Investments (SEIC) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 28, 2025
SEI Investments (SEIC) reported revenue of $560M for the second quarter 2025 (Q2 2025), +8% from a year earlier and +1% from the quarter before. Operating margin was 26.6%, net earnings $227M (40.6% of revenue).
SEI Investments, Q2 2025: revenue $560M (+8% year over year), operating margin 26.6%, net earnings $227M, operating cash flow $96.5M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $560M | +1% | +8% |
| Gross profit | $189M | -2% | +11% |
| Operating profit | $149M | -5% | +9% |
| Net earnings | $227M | +50% | +63% |
| Operating cash flow | $96.5M | -34% | -16% |
| Free cash flow | $92.7M | -33% | -13% |
What changed
Revenue was $559.6M in Q2 2025, up 8% year over year and up 1% from the previous quarter. Investment operations fees was the largest line at 37% of revenue. Investment operations fees added $25.2M year over year (up 14%), 62% of the total change. Investment management fees from pooled investment products declined 5%.
Gross margin was 33.8%, up 1.1 points from a year earlier. Operating profit was $148.6M, a 26.6% margin (up 0.3 points year over year). Of the extra revenue versus a year earlier, 30% reached operating profit, above the 26% margin then. Operating expenses grew 22% against revenue growth of 8%. Net earnings were $227.1M, up 63% year over year. The effective tax rate was 22.3%. Non-operating items added $143.5M, 49% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $96.5M (down 16% year over year), 43% of net earnings. Non-cash charges added back $13.9M of share-based compensation. Working capital and other items used $144.4M. Capital expenditures of $3.8M left free cash flow of $92.7M.
Questions
What was SEI Investments' revenue in the second quarter 2025?
SEI Investments (SEIC) reported revenue of $560M for the second quarter 2025 (Q2 2025), +8% from a year earlier and +1% from the quarter before.
Was SEI Investments profitable in the second quarter 2025?
Operating profit was $149M (26.6% of revenue) and net earnings $227M.
Source: SEI Investments 10-Q on SEC EDGAR.