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How SEI Investments (SEIC) makes money
SEI Investments (SEIC) made $662M of revenue in the third quarter 2026 (Q3 2026), +14% from a year earlier. Asset management, administration and distribution fees brought in $533M (81%); Investment processing fees - PaaS brought in $90.4M (14%); Investment processing fees - SaaS brought in $26.0M (4%). Of every dollar of revenue, 35¢ was left as gross profit, 30¢ was left as operating profit, 25¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Asset management, administration and distribution fees | $533M | 80.6% | +4% | +15% |
| ↳ Investment operations fees | $259M | 39.1% | +3% | +19% |
| ↳ Investment management fees from investment management agreements | $136M | 20.5% | +3% | +13% |
| ↳ Investment management fees from pooled investment products | $116M | 17.5% | +4% | +10% |
| ↳ Account fees and other | $22.6M | 3.4% | +6% | +9% |
| Investment processing fees - PaaS | $90.4M | 13.7% | +0.5% | +9% |
| Investment processing fees - SaaS | $26.0M | 3.9% | -1% | +0.9% |
| Professional services fees | $12.3M | 1.9% | +22% | +102% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $662M | 100.0% |
| Cost of revenue | $430M | 64.9% |
| Gross profit | $232M | 35.1% |
| Operating expenses | $34.1M | 5.2% |
| Operating profit | $198M | 29.9% |
| Income tax | $43.3M | 6.5% |
| Net earnings | $168M | 25.4% |
| Operating cash flow | $218M | 32.9% |
| Free cash flow | $208M | 31.5% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $662M | +14% |
| Q2 2026 | $642M | +15% |
| Q1 2026 | $622M | +13% |
| Q4 2025 | $608M | +9% |
| Q3 2025 | $579M | +8% |
| Q2 2025 | $560M | +8% |
| Q1 2025 | $551M | +8% |
From SEI Investments' 10-Q filed Oct 26, 2026 (on EDGAR).
Questions
How does SEI Investments make money?
SEI Investments (SEIC) made $662M of revenue in the third quarter 2026 (Q3 2026), +14% from a year earlier. Asset management, administration and distribution fees brought in $533M (81%); Investment processing fees - PaaS brought in $90.4M (14%); Investment processing fees - SaaS brought in $26.0M (4%). Of every dollar of revenue, 35¢ was left as gross profit, 30¢ was left as operating profit, 25¢ was left as net earnings.
What is SEI Investments' biggest business?
Asset management, administration and distribution fees: $533M in the third quarter 2026, 81% of revenue, +15% from a year earlier.
What is SEI Investments' profit margin?
Net earnings were $168M, 25.4% of revenue, in the third quarter 2026; the operating margin was 29.9%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.