SEI Investments Co filed its 10-Q with the SEC, and its figures are now in our data. Growth is coming with wider margins, so profit is rising faster than sales. Revenue over the twelve months to Q3 2026 was $2.5 billion, which rose 12.8% on the year before. That growth rate was up 1.7 percentage points on the rate a quarter earlier.
Source: SEC EDGAR XBRL company facts. Latest period shown: FY26 Q2.
View chart data
| Period | Revenue growth, TTM YoY | Operating margin (TTM) | FCF margin (TTM) |
|---|---|---|---|
| FY24 Q3 | 8.5% | 24.7% | 24.3% |
| FY24 Q4 | 10.7% | 26.0% | 27.8% |
| FY25 Q1 | 10.3% | 26.9% | 29.0% |
| FY25 Q2 | 10.7% | 27.0% | 27.9% |
| FY25 Q3 | 9.4% | 27.2% | 29.0% |
| FY25 Q4 | 8.1% | 27.3% | 25.5% |
| FY26 Q1 | 9.4% | 27.9% | 28.0% |
| FY26 Q2 | 11.1% | 28.9% | 28.0% |
Profit and margins
Profit is there at every level. The trailing gross margin was 35.9%. The trailing operating margin was 29.4%, up 2.2 percentage points from a year earlier. Alongside that, the trailing net margin was 28.1%. Net income over the twelve months was $710.9 million, which rose 1.8% on the year before.
The cash picture
More cash came in than a year earlier. Operating cash flow over the twelve months was $691.7 million, up 2.2% on the year before. Capital spending was $26.3 million, or 1.0% of revenue. Free cash flow, operating cash flow less capital spending, was $665.5 million, up 2.3% on the year before. Free cash flow was 26.3% of revenue (the free-cash-flow margin), down 2.7 percentage points from a year earlier.
Share count
The average diluted share count fell 3.8% over the year.
How today compares
In the context of past results: today’s free-cash-flow margin of 26.3% is higher than 28% of the company’s own past quarterly readings, which have ranged from 20.2% to 35.5%. Today’s operating margin of 29.4% is higher than 94% of past readings (19.1% to 33.2%). Today’s twelve-month revenue growth rate of 12.8% is higher than 87% of past readings (−11.8% to 18.5%).
What it means for value
For valuation, the figures matter through our model. In our model, growth 5 percentage points lower would lower the value by 24.4%, and 5 percentage points higher would raise it by 31.6%. A free-cash-flow margin 1 percentage point lower would lower it by 3.8%.
What comes next
The next filing will show whether the trends above continue, slow or reverse.
