SS&C Technologies (SSNC) Q4 2025 earnings summary

Executive summary

• Achieved record Q4 2025 adjusted revenue of $1,654.6M, up 8.1% year-over-year, and full-year adjusted revenue of $6,276.2M, up 6.6%.

• Adjusted diluted EPS rose 18.2% in Q4 and 13.5% for the year, while GAAP diluted EPS fell 21.4% in Q4 but increased 5.0% for the year.

• Net cash from operating activities for 2025 was $1,744.8M, up 25.7% year-over-year.

• Over $1B returned to shareholders in 2025 through share repurchases and dividends, including 12.3M shares repurchased at an average price of $84.12.

• Early progress with the Calastone acquisition and continued investment in AI and automation.

Financial highlights

• Q4 2025 GAAP revenue was $1,653.5M (+8.1% YoY); full year: $6,272.2M (+6.6% YoY).

• Q4 2025 adjusted consolidated EBITDA was $651.0M (+8.7% YoY), with a margin of 39.3%.

• Q4 2025 adjusted operating income was $634.2M (+9.0% YoY); full year: $2,395.5M (+8.3% YoY).

• Q4 2025 adjusted diluted EPS was $1.69, up from $1.43 in Q4 2024.

• Net debt at year-end was $7B, with a net leverage ratio of 2.8x.

Outlook and guidance

• FY 2026 adjusted revenue guidance: $6,654M–$6,814M, with organic growth midpoint at 5.1%.

• FY 2026 adjusted diluted EPS guidance: $6.70–$7.02, about 12% growth at midpoint.

• FY 2026 cash from operating activities expected at $1,713M–$1,813M.

• Q1 2026 adjusted revenue guidance: $1,608M–$1,648M; adjusted diluted EPS: $1.62–$1.68.

• Effective income tax rate guidance for 2026 is 21.5%–23.5%.