SS&C(US:SSNC)2026-02-05 21:08Financial Performance - Q4 2025 GAAP revenue reached $1,653.5 million, an increase of 8.1% year-over-year, while full year revenue was $6,272.2 million, up 6.6% from 2024[2] - Adjusted diluted earnings per share for Q4 2025 was $1.69, reflecting an 18.2% increase compared to $1.43 in Q4 2024[2] - Adjusted consolidated EBITDA for Q4 2025 was $651.0 million, up 8.7% year-over-year, with an adjusted EBITDA margin of 39.3%[5] - Total revenues for Q4 2025 reached $1,653.5 million, a 8.1% increase from $1,529.7 million in Q4 2024[14] - Software-enabled services revenue was $1,364.1 million, up 8.8% from $1,254.0 million year-over-year[14] - Net income for the twelve months ended December 31, 2025, was $798.7 million, compared to $761.7 million in 2024, reflecting a 4.8% increase[18] - Basic earnings per share attributable to SS&C common stockholders for Q4 2025 was $0.80, down from $1.01 in Q4 2024[14] - Adjusted revenues for the full year 2025 were $6,276.2 million, up 6.6% from $5,885.7 million in 2024[22] - Adjusted operating income for Q4 2025 was $635.0 million, a 8.9% increase compared to $582.9 million in Q4 2024[24] - Operating income for the twelve months ended December 31, 2025, was $1,436.7 million, up from $1,343.5 million in 2024, reflecting a 6.9% increase[14] Shareholder Returns - The company returned $384.2 million to shareholders in Q4 2025, including $318.7 million for share repurchases and $65.5 million in dividends[5] - The company allocated over $1 billion for share repurchases in 2025, purchasing 12.3 million shares at an average price of $84.12 per share[5] Future Projections - For FY 2026, the company projects adjusted revenue between $6,654 million and $6,814 million[7] - Adjusted net income attributable to SS&C for FY 2026 is expected to be between $1,662 million and $1,762 million[7] Cash Flow and Leverage - Net cash generated from operating activities for the twelve months ended December 31, 2025, was $1,744.8 million, a 25.7% increase from $1,388.6 million in 2024[6] - SS&C's consolidated net leverage ratio was 2.80 times consolidated EBITDA as of December 31, 2025[6] - Cash flow from operating activities for the twelve months ended December 31, 2025, was $1,744.8 million, compared to $1,388.6 million in 2024, a 25.6% increase[18] Assets and Liabilities - Total assets increased to $20,711.7 million in 2025, up from $19,044.7 million in 2024, representing an 8.7% growth[16] - Total liabilities rose to $13,769.9 million in 2025, up from $12,435.6 million in 2024, indicating an increase of 10.7%[16] - The company’s total equity increased to $6,941.8 million in 2025, compared to $6,609.1 million in 2024, a growth of 5.0%[16] Adjusted Income and Expenses - Adjusted net income for the twelve months ended December 31, 2025, reached $1,557.3 million, compared to $1,377.1 million in 2024, reflecting a year-over-year increase of 13.1%[30] - Adjusted diluted earnings per share attributable to SS&C common stockholders increased to $6.14 in 2025 from $5.41 in 2024, marking a growth of 13.5%[30] - Stock-based compensation expenses rose to $257.7 million for the twelve months ended December 31, 2025, up from $203.3 million in 2024, an increase of 26.7%[30] - The effective tax rate for adjusted net income was revised to 22.0% for the twelve months ending December 31, 2025, down from 23.0% in 2024, due to increased deductions related to equity awards[30] Other Financial Metrics - The company reported a gross profit of $789.8 million for Q4 2025, compared to $753.9 million in Q4 2024, marking a 4.8% increase[14] - The company reported a loss on extinguishment of debt of $3.3 million for the full year 2025[28] - The company reported a loss on extinguishment of debt amounting to $3.3 million for the twelve months ended December 31, 2025, significantly lower than $31.2 million in 2024[30] - Acquisition-related costs for the twelve months ended December 31, 2025, totaled $11.5 million, compared to $3.3 million in 2024, indicating an increase in acquisition activities[30] - The diluted weighted-average shares outstanding decreased slightly to 253.1 million in 2025 from 253.8 million in 2024[30] - Foreign currency translation losses were reported at $1.8 million for the twelve months ended December 31, 2025, down from $8.2 million in 2024, indicating improved currency management[30] - The company experienced a restructuring expense of $45.1 million for the twelve months ended December 31, 2025, compared to $41.4 million in 2024, reflecting ongoing operational adjustments[30]