Filing Flows › SEI Investments (SEIC) › Q2 2026 › vs Q2 2025
SEI Investments (SEIC) Q2 2026 vs Q2 2025 (year over year)
SEI Investments's revenue rose $82.0M (+15%) from $560M in Q2 2025 to $642M in Q2 2026. The biggest changes: Asset management, administration and distribution fees +$77.2M (+18%); Investment processing fees - PaaS +$7.6M (+9%); Investment processing fees - SaaS −$5.3M (-17%). Gross margin 35.9% against 33.8% (+2.1 pts).
SEI Investments, Q2 2026: revenue $642M (+15% year over year), operating margin 30.7%, net earnings $196M, operating cash flow $126M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 35.9% | 33.8% | +2.1 pts |
| Operating margin | 30.7% | 26.6% | +4.1 pts |
| Net margin | 30.5% | 40.6% | -10.1 pts |
| Free cash flow margin | 18.3% | 16.6% | +1.7 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Investment operations fees | $250M | $207M | $43.4M | +21% |
| Investment management fees from investment management agreements | $132M | $112M | $19.2M | +17% |
| Investment management fees from pooled investment products | $112M | $99.1M | $12.7M | +13% |
| Account fees and other | $21.3M | $19.5M | $1.8M | +9% |
| Asset management, administration and distribution fees | $515M | $438M | $77.2M | +18% |
| Investment processing fees - PaaS | $90.0M | $82.3M | $7.6M | +9% |
| Investment processing fees - SaaS | $26.3M | $31.6M | −$5.3M | -17% |
| Professional services fees | $10.1M | $7.6M | $2.5M | +33% |
| Revenue | $642M | $560M | $82.0M | +15% |
| Gross profit | $230M | $189M | $41.1M | +22% |
| Cost of revenue | $411M | $370M | $40.9M | +11% |
| Other income, net | $56.2M | $144M | −$87.3M | -61% |
| Operating profit | $197M | $149M | $48.4M | +33% |
| Operating expenses | $33.2M | $40.5M | −$7.3M | -18% |
| Pre-tax earnings | $253M | $292M | −$39.0M | -13% |
| Net earnings | $196M | $227M | −$31.4M | -14% |
| Minority interests | $3.9M | $0 | $3.9M | — |
| Income tax | $53.6M | $65.1M | −$11.4M | -18% |
| Share-based compensation | $16.3M | $13.9M | $2.4M | +17% |
| Working capital & other | $86.2M | $144M | −$58.3M | -40% |
| Operating cash flow | $126M | $96.5M | $29.3M | +30% |
| Free cash flow (OCF − capex) | $117M | $92.7M | $24.4M | +26% |
| Capital expenditures | $8.6M | $3.8M | $4.8M | +128% |
Questions
How much did SEI Investments's revenue grow year over year in Q2 2026?
SEI Investments's revenue rose $82.0M (+15%) from $560M in Q2 2025 to $642M in Q2 2026.
What drove SEI Investments's revenue change in Q2 2026?
Asset management, administration and distribution fees +$77.2M (+18%); Investment processing fees - PaaS +$7.6M (+9%); Investment processing fees - SaaS −$5.3M (-17%).