Filing Flows › SEI Investments (SEIC) › Q4 2025
SEI Investments (SEIC) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 23, 2026
SEI Investments (SEIC) reported revenue of $608M for the fourth quarter 2025 (Q4 2025), +9% from a year earlier and +5% from the quarter before. Operating margin was 26.6%, net earnings $173M (28.4% of revenue).
SEI Investments, Q4 2025: revenue $608M (+9% year over year), operating margin 26.6%, net earnings $173M, operating cash flow $126M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $608M | +5% | +9% |
| Gross profit | $224M | +10% | +21% |
| Operating profit | $162M | +1% | +11% |
| Net earnings | $173M | +5% | +11% |
| Operating cash flow | $126M | -47% | -35% |
| Free cash flow | $125M | -46% | -34% |
What changed
Revenue was $607.9M in Q4 2025, up 9% year over year and up 5% from the previous quarter. Investment operations fees was the largest line at 38% of revenue.
Gross margin was 36.8%, up 3.7 points from a year earlier. Operating profit was $161.6M, a 26.6% margin (up 0.5 points year over year). Of the extra revenue versus a year earlier, 32% reached operating profit, above the 26% margin then. Operating expenses grew 61% against revenue growth of 9%. Net earnings were $172.5M, up 11% year over year. The effective tax rate was 19.7%. Non-operating items added $55.5M, 26% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $126.4M (down 35% year over year), 72% of net earnings. Non-cash charges added back $11.6M of share-based compensation. Working capital and other items used $59.5M. Capital expenditures of $1.6M left free cash flow of $124.8M.
Questions
What was SEI Investments' revenue in the fourth quarter 2025?
SEI Investments (SEIC) reported revenue of $608M for the fourth quarter 2025 (Q4 2025), +9% from a year earlier and +5% from the quarter before.
Was SEI Investments profitable in the fourth quarter 2025?
Operating profit was $162M (26.6% of revenue) and net earnings $173M.
Source: SEI Investments 10-K on SEC EDGAR.