One-glance verdict
Undervalued
$161.94 our estimate vs market $102.30
Wall Street consensus: $121.25 (-25.1% lower than our fair-value estimate)
37% below our estimate, below the bear case
Fundamentals snapshot
SEI Investments Company
SEIC · NMS · Financial Services · Asset Management
Current price
$102.30
52-week range
$75.08 - $112.15
Market cap
$12.17B
Balance sheet
Healthy
1,030.07x Strong cushion
Net cash $379.69M. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
1 Risk
3 rewards · 1 risks
- Reward Revenue grew 6.7% last year.
- Reward Returns 27.3% on equity, ahead of 80% of its peers.
- Reward Free cash flow was positive in 10/10 years.
- Risk Stock trades 3.9% above its 5-year average P/E.
What this company does
SEI Investments Company
SEI Investments Company helps financial professionals and institutions manage money and investments for their clients. Their main income comes from fees charged for these services, meaning they earn money as long as clients continue to use their platforms and expertise, which is similar to recurring revenue (money that comes in regularly and predictably). This is important because it suggests a stable business model that can generate consistent earnings.
How the company got here
SEI Investments Company was founded in 1968 and has grown into a global provider of financial technology and investment management solutions. The company started by offering data processing services to the mutual fund industry. Over the decades, SEI has strategically expanded its offerings through both organic growth and acquisitions, evolving from a back-office processor to a comprehensive solutions provider for various financial institutions. This evolution reflects a consistent focus on adapting to the changing needs of the financial services landscape.
What it actually does
SEI provides a range of technology and investment solutions that help other financial companies manage money and serve their clients. Think of them as a behind-the-scenes partner for banks, financial advisors, and retirement plan providers. They offer the software and services that allow these businesses to handle investments, process transactions, and provide financial advice to their own customers. Essentially, SEI helps other financial firms operate more efficiently and effectively.
SEI Wealth Platform
This segment provides a technology platform for wealth management firms, essentially offering them the digital tools and services needed to manage their clients' investments and financial planning. Wealth management firms use this platform to consolidate client accounts, execute trades, and provide personalized advice. It's a significant part of SEI's business, enabling advisors to offer a more integrated and streamlined experience to their customers.
SEI Asset Management
SEI's asset management arm offers investment solutions and outsourcing services to institutional investors and investment managers. This means they manage investment portfolios on behalf of other companies or create investment products that other firms can offer to their clients. They handle the complexities of investing, allowing their clients to focus on their core business or client relationships. This segment is crucial for clients seeking specialized investment expertise or looking to outsource their investment operations.
SEI Information Technology
This part of SEI focuses on providing technology and operational outsourcing solutions, primarily for the investment processing industry. They handle tasks like trade processing, fund accounting, and regulatory reporting for asset managers and other financial institutions. By outsourcing these functions to SEI, companies can reduce their operational costs and complexity, allowing them to concentrate on investment strategies and client service.
What management is betting on now
SEI's management is focused on expanding its digital offerings and enhancing its technology platforms to meet the evolving demands of the financial services industry. They are investing in solutions that help clients navigate complex regulatory environments and improve client engagement through digital channels. A key priority is to continue growing their market share by providing innovative, integrated solutions that streamline operations and enhance investment outcomes for their diverse client base.
Price history
How the share price has moved
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Loading price history…
Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q3
$193.65M
FY2024 Q4
$190.25M
FY2025 Q1
$137.81M
FY2025 Q2
$92.74M
FY2025 Q3
$229.64M
FY2025 Q4
$124.82M
FY2026 Q1
$215.17M
FY2026 Q2
$117.17M
Revenue
$641.62M
Net income
$195.66M
Diluted EPS
1.59
Operating cash flow
$125.79M
Free cash flow
$117.17M
Fetching…
Sources
Revenue
$622.18M
Net income
$174.49M
Diluted EPS
1.40
Operating cash flow
$221.58M
Free cash flow
$215.17M
Fetching…
Sources
Revenue
$607.92M
Net income
$172.50M
Diluted EPS
1.38
Operating cash flow
$126.40M
Free cash flow
$124.82M
Fetching…
Sources
Revenue
$578.51M
Net income
$164.20M
Diluted EPS
1.30
Operating cash flow
$238.26M
Free cash flow
$229.64M
Fetching…
Sources
Revenue
$559.60M
Net income
$227.08M
Diluted EPS
1.78
Operating cash flow
$96.53M
Free cash flow
$92.74M
Fetching…
Sources
Revenue
$551.34M
Net income
$151.52M
Diluted EPS
1.17
Operating cash flow
$146.48M
Free cash flow
$137.81M
Fetching…
Sources
Revenue
$557.19M
Net income
$155.77M
Diluted EPS
1.18
Operating cash flow
$195.27M
Free cash flow
$190.25M
Fetching…
Sources
Revenue
$537.40M
Net income
$154.90M
Diluted EPS
1.19
Operating cash flow
$200.04M
Free cash flow
$193.65M
Fetching…
Sources
Is it cheap or expensive?
Fair value $161.94 vs current price $102.30
Wall Street consensus is the average analyst price target: $121.25 (-25.1% lower than our fair-value estimate).
Our most-likely fair value is $161.94 a share — about 58.3% above today's price of $102.30, so the stock currently looks cheap (undervalued).
Is it drowning in debt?
Healthy
Net cash $379.7M - more cash than debt. Interest coverage 1030.1x.
Net debt
$-379.69M
Interest coverage
1,030.07x
SEI Investments Company's profit covers its interest bill about 1030.1 times over. which is stronger than every peer shown here.
Healthy
Worse cushion
Baseline
Better cushion
SEIC
BASELINE
SEI Investments Company
Total debt $45.83M Interest coverage 1,030.07x This is the baseline the peer rows are being compared against.
Total debt $7.65B Interest coverage 3.31x -100% vs SEIC Carries about 311.7x less debt cushion than SEIC.
Total debt $77.82M Interest coverage 117.88x -89% vs SEIC Carries about 8.7x less debt cushion than SEIC.
What you should know
The case for and against SEIC
3 Rewards
1 Risk
Rewards
-
Revenue grew 6.7% last year.
-
Returns 27.3% on equity, ahead of 80% of its peers.
-
Free cash flow was positive in 10/10 years.
Risks
-
Stock trades 3.9% above its 5-year average P/E.
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
17.79x
Forward P/E
14.44x
P/B
4.84x
P/S
4.80x
EV/EBITDA
15.02x
PEG ratio
1.75x
Profitability
How much profit each dollar creates
Gross margin
78.5%
Operating margin
29.9%
Net margin
28.1%
ROE
27.3%
ROA
14.7%
Health
Liquidity and balance-sheet strength
Debt / equity
0.02x
Current ratio
4.31x
Quick ratio
4.08x
Total debt
$45.83M
Total cash
$425.52M
Growth
How the business has been compounding
Revenue TTM
$2.45B
Revenue 5Y CAGR
4.6%
EPS TTM
5.75
EPS 5Y CAGR
17.6%
Cash flow
How much cash the business throws off
Operating CF TTM
$712.02M
Free CF TTM
$585.02M
FCF margin
23.9%
Dividend
Shareholder payout
Yield
1.0%
Payout ratio
18.3%
Last ex-div date
2026-06-08