Revenue growth accelerated to 38.7% year-over-year in 2026Q2, supported by an operating margin that expanded to 58.2% due to the company's highly scalable, IP-heavy business model.
| Metric | TTM | Sep'25 | Sep'24 | Sep'23 | Sep'22 | Sep'21 | Sep'20 | Sep'19 | Sep'18 | Sep'17 | Sep'16 | Sep'15 | Sep'14 | Sep'13 | Sep'12 | Sep'11 | Sep'10 | Sep'09 | Sep'08 | Sep'07 | Sep'06 | Sep'05 | Sep'04 | Sep'03 | Sep'02 | Sep'01 | Sep'00 | Sep'99 | Sep'98 | Sep'97 | Sep'96 |
|---|
| Sales/Revenue | 2.26B | 1.99B | 1.72B | 1.51B | 1.38B | 1.32B | 1.29B | 1.16B | 1.03B | 932.17M | 881.36M | 838.78M | 788.99M | 743.44M | 676.42M | 619.68M | 605.64M | 630.74M | 744.84M | 822.24M | 825.37M | 798.67M | 706.21M | 629.29M | 392.42M | 329.15M | 297.99M | 276.9M | 245.5M | 199M | 148.7M |
| Revenue Growth % | 22.57% | 15.91% | 13.48% | 9.9% | 4.61% | 1.7% | 11.59% | 12.36% | 10.76% | 5.77% | 5.08% | 6.31% | 6.13% | 9.91% | 9.16% | 2.32% | -3.98% | -15.32% | -9.41% | -0.38% | 3.34% | 13.09% | 12.22% | 60.36% | 19.22% | 10.46% | 7.61% | 12.79% | 23.37% | 33.83% | 30.55% |
| Cost of Goods Sold | 357.21M | 353.72M | 348.21M | 311.05M | 302.17M | 332.46M | 361.14M | 336.85M | 310.7M | 287.12M | 265.17M | 270.54M | 249.28M | 229.47M | 197.95M | 186.47M | 180.93M | 206.45M | 274.92M | 293.48M | 281.98M | 275.06M | 252.59M | 246.59M | 176.03M | 148.56M | 108.95M | 89.9M | 71.5M | 62.1M | 49.3M |
| COGS % of Revenue | - | 17.77% | 20.27% | 20.55% | 21.94% | 25.25% | 27.9% | 29.04% | 30.09% | 30.8% | 30.09% | 32.25% | 31.6% | 30.87% | 29.26% | 30.09% | 29.87% | 32.73% | 36.91% | 35.69% | 34.16% | 34.44% | 35.77% | 39.19% | 44.86% | 45.13% | 36.56% | 32.47% | 29.12% | 31.21% | 33.15% |
| Gross Profit | 1.9B | 1.64B | 1.37B | 1.2B | 1.08B | 984.07M | 933.42M | 823.24M | 721.78M | 645.05M | 616.18M | 568.25M | 539.7M | 513.98M | 478.48M | 433.21M | 424.71M | 424.29M | 469.93M | 528.75M | 543.39M | 523.61M | 453.62M | 382.7M | 216.39M | 180.59M | 189.03M | 187M | 174M | 136.9M | 99.4M |
| Gross Margin % | 84.17% | 82.23% | 79.73% | 79.45% | 78.06% | 74.75% | 72.1% | 70.96% | 69.91% | 69.2% | 69.91% | 67.75% | 68.4% | 69.13% | 70.74% | 69.91% | 70.13% | 67.27% | 63.09% | 64.31% | 65.84% | 65.56% | 64.23% | 60.81% | 55.14% | 54.87% | 63.44% | 67.53% | 70.88% | 68.79% | 66.85% |
| Gross Profit Growth % | - | 19.56% | 13.87% | 11.85% | 9.25% | 5.43% | 13.38% | 14.06% | 11.9% | 4.68% | 8.44% | 5.29% | 5.01% | 7.42% | 10.45% | 2% | 0.1% | -9.71% | -11.13% | -2.69% | 3.78% | 15.43% | 18.53% | 76.86% | 19.82% | -4.47% | 1.09% | 7.47% | 27.1% | 37.73% | 30.1% |
| Operating Expenses | 762.41M | 712.3M | 635.69M | 559.67M | 532.68M | 478.58M | 637.45M | 569.69M | 511.89M | 465.22M | 446.59M | 430.74M | 377.84M | 352.38M | 310.12M | 305.88M | 311.36M | 307.54M | 347.64M | 380.28M | 390.67M | 330.6M | 273.75M | 208.51M | 169.28M | 108.48M | 125.06M | 125.1M | 133.6M | 99.2M | 75.8M |
| OpEx % of Revenue | - | 35.78% | 37.01% | 36.98% | 38.68% | 36.35% | 49.24% | 49.11% | 49.58% | 49.91% | 50.67% | 51.35% | 47.89% | 47.4% | 45.85% | 49.36% | 51.41% | 48.76% | 46.67% | 46.25% | 47.33% | 41.39% | 38.76% | 33.13% | 43.14% | 32.96% | 41.97% | 45.18% | 54.42% | 49.85% | 50.98% |
| Selling, General & Admin | 549.49M | 513.03M | 462.83M | 400.56M | 383.86M | 396.28M | 420.93M | 414.09M | 376.91M | 339.8M | 328.94M | 300M | 278.2M | 268.39M | 238.52M | 223.62M | 225.26M | 209.32M | 245.64M | 285.54M | 260.85M | 223.4M | 182.37M | 124.64M | 83.63M | 78.06M | 90.22M | 93.5M | 89.6M | 69.8M | 55.8M |
| SG&A % of Revenue | - | 25.77% | 26.95% | 26.47% | 27.87% | 30.1% | 32.52% | 35.69% | 36.51% | 36.45% | 37.32% | 35.77% | 35.26% | 36.1% | 35.26% | 36.09% | 37.19% | 33.19% | 32.98% | 34.73% | 31.6% | 27.97% | 25.82% | 19.81% | 21.31% | 23.72% | 30.28% | 33.77% | 36.5% | 35.08% | 37.53% |
| Research & Development | 201.99M | 188.35M | 171.94M | 159.95M | 146.76M | 171.23M | 166.5M | 149.48M | 128.38M | 110.87M | 103.67M | 98.82M | 83.44M | 66.97M | 59.53M | 62.13M | 73.58M | 73.63M | 77.79M | 70.6M | 84.97M | 81.3M | 71.09M | 67.57M | 74.04M | 28.32M | 29.82M | 29.7M | 29.1M | 17.6M | 7.8M |
| R&D % of Revenue | - | 9.46% | 10.01% | 10.57% | 10.66% | 13.01% | 12.86% | 12.89% | 12.43% | 11.89% | 11.76% | 11.78% | 10.57% | 9.01% | 8.8% | 10.03% | 12.15% | 11.67% | 10.44% | 8.59% | 10.29% | 10.18% | 10.07% | 10.74% | 18.87% | 8.6% | 10.01% | 10.73% | 11.85% | 8.84% | 5.25% |
| Other Operating Expenses | 1000K | 10.92M | 917K | -841K | 2.06M | -88.93M | 50.02M | 6.13M | 6.59M | 17.18M | 13.98M | 31.91M | 16.2M | 17.02M | 12.07M | 20.13M | 12.52M | 24.59M | 24.21M | 24.14M | 44.85M | 25.9M | 20.29M | 16.29M | 11.6M | 2.1M | 5.02M | 1.81M | 14.9M | 11.8M | 100K |
| Operating Income | 1.14B | 924.85M | 733.63M | 642.83M | 542.41M | 505.49M | 295.97M | 253.55M | 175.36M | 182.16M | 169.59M | 137.5M | 161.87M | 161.59M | 168.36M | 127.34M | 113.35M | 116.75M | 122.28M | 148.47M | 152.72M | 193.01M | 179.87M | 174.19M | 47.11M | 72.11M | 44.61M | 46.38M | 40.4M | 37.7M | 29.6M |
| Operating Margin % | 50.37% | 46.45% | 42.71% | 42.47% | 39.38% | 38.4% | 22.86% | 21.86% | 16.98% | 19.54% | 19.24% | 16.39% | 20.52% | 21.74% | 24.89% | 20.55% | 18.72% | 18.51% | 16.42% | 18.06% | 18.5% | 24.17% | 25.47% | 27.68% | 12.01% | 21.91% | 14.97% | 16.75% | 16.46% | 18.94% | 19.91% |
| Operating Income Growth % | - | 26.07% | 14.12% | 18.51% | 7.3% | 70.79% | 16.73% | 44.59% | -3.73% | 7.41% | 23.34% | -15.05% | 0.17% | -4.02% | 32.21% | 12.34% | -2.91% | -4.53% | -17.64% | -2.78% | -20.87% | 7.31% | 3.26% | 269.74% | -34.66% | 61.62% | -3.8% | 14.79% | 7.16% | 27.36% | 48.74% |
| EBITDA | 1.15B | 939.8M | 747.46M | 657.47M | 562.88M | 531.08M | 326.34M | 285.16M | 205.54M | 218.37M | 201.22M | 171.39M | 194.5M | 194.81M | 189.91M | 151.53M | 144.27M | 155.17M | 161.78M | 197.6M | 201.42M | 247.46M | 229.75M | 227.81M | 80.03M | 97.18M | 66.08M | 63.81M | 55.3M | 49.5M | 37.5M |
| EBITDA Margin % | 51.07% | 47.21% | 43.52% | 43.44% | 40.87% | 40.34% | 25.21% | 24.58% | 19.91% | 23.43% | 22.83% | 20.43% | 24.65% | 26.2% | 28.08% | 24.45% | 23.82% | 24.6% | 21.72% | 24.03% | 24.4% | 30.98% | 32.53% | 36.2% | 20.39% | 29.53% | 22.17% | 23.04% | 22.53% | 24.87% | 25.22% |
| EBITDA Growth % | 39.28% | 25.73% | 13.69% | 16.8% | 5.99% | 62.74% | 14.44% | 38.74% | -5.88% | 8.52% | 17.4% | -11.88% | -0.16% | 2.58% | 25.32% | 5.04% | -7.02% | -4.09% | -18.13% | -1.9% | -18.6% | 7.7% | 0.85% | 184.67% | -17.65% | 47.08% | 3.56% | 15.38% | 11.72% | 32% | 43.68% |
| D&A (Non-Cash Add-back) | 15.91M | 14.95M | 13.83M | 14.64M | 20.46M | 25.59M | 30.37M | 31.61M | 30.18M | 36.21M | 31.63M | 33.89M | 32.63M | 33.21M | 21.55M | 24.2M | 30.92M | 38.42M | 39.49M | 49.13M | 48.7M | 54.44M | 49.89M | 53.62M | 32.91M | 25.07M | 21.46M | 17.43M | 14.9M | 11.8M | 7.9M |
| EBIT | 1.15B | 936.24M | 747.66M | 649.17M | 540.28M | 513.23M | 299.18M | 255.82M | 188.24M | 182.07M | 171.2M | 138.39M | 161.68M | 162.21M | 167.66M | 129.82M | 116.43M | 123.05M | 133.33M | 150.93M | 172.38M | 202.44M | 181.09M | 176.69M | 54.34M | 72.11M | 47.54M | 46.38M | 40.4M | 37.7M | 29.6M |
| Net Interest Income | -159.37M | -133.65M | -105.64M | -95.55M | -68.97M | -40.09M | -42.18M | -39.75M | -31.31M | -25.79M | -26.63M | -29.15M | -28.55M | -30.23M | -31.42M | -30.17M | -22.44M | -20.76M | -11.53M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 54K | 317K | 2.19M | 1.69M | 4.72M | 8.8M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 159.37M | 133.65M | 105.64M | 95.55M | 68.97M | 40.09M | 42.18M | 39.75M | 31.31M | 25.79M | 26.63M | 29.15M | 28.55M | 30.28M | 31.73M | 32.36M | 24.12M | 25.48M | 20.34M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | -148.78M | -122.25M | -91.6M | -89.21M | -71.11M | -32.35M | -38.97M | -37.48M | -18.43M | -30.84M | -25.02M | -28.27M | -28.74M | -29.61M | -32.12M | -29.88M | -21.05M | -19.18M | -9.29M | 1.19M | 6.47M | 1.08M | -11.05M | -2.05M | 5.99M | 4.75M | -467K | 4.2M | 1.7M | -2.1M | -900K |
| Pretax Income | 987.41M | 802.6M | 642.02M | 553.62M | 471.31M | 473.14M | 257M | 216.07M | 188.01M | 151.32M | 144.57M | 109.24M | 133.13M | 131.98M | 136.24M | 97.45M | 92.3M | 97.57M | 113M | 149.66M | 159.19M | 194.09M | 168.81M | 172.14M | 53.1M | 76.85M | 47.07M | 50.6M | 42.1M | 35.6M | 27.2M |
| Pretax Margin % | 43.77% | 40.31% | 37.38% | 36.58% | 34.22% | 35.94% | 19.85% | 18.63% | 18.21% | 16.23% | 16.4% | 13.02% | 16.87% | 17.75% | 20.14% | 15.73% | 15.24% | 15.47% | 15.17% | 18.2% | 19.29% | 24.3% | 23.9% | 27.35% | 13.53% | 23.35% | 15.8% | 18.27% | 17.15% | 17.89% | 18.29% |
| Income Tax | 227.78M | 150.65M | 129.21M | 124.25M | 97.77M | 81.06M | 20.59M | 23.95M | 45.59M | 23.07M | 35.12M | 22.74M | 38.25M | 41.89M | 44.24M | 25.89M | 27.85M | 32.1M | 31.81M | 45.01M | 55.71M | 59.54M | 66.03M | 64.98M | 35.21M | 30.74M | 19.44M | 20.6M | 17.8M | 14.9M | 11M |
| Effective Tax Rate % | 23.07% | 18.77% | 20.13% | 22.44% | 20.74% | 17.13% | 8.01% | 11.08% | 24.25% | 15.24% | 24.29% | 20.81% | 28.73% | 31.74% | 32.47% | 26.57% | 30.17% | 32.9% | 28.15% | 30.08% | 34.99% | 30.68% | 39.11% | 37.75% | 66.32% | 40% | 41.3% | 40.71% | 42.28% | 41.85% | 40.44% |
| Net Income | 759.63M | 651.95M | 512.81M | 429.38M | 373.54M | 392.08M | 236.41M | 192.12M | 142.41M | 128.26M | 109.45M | 86.5M | 94.88M | 90.09M | 92M | 71.56M | 64.46M | 65.1M | 83.95M | 104.65M | 103.49M | 134.55M | 102.79M | 107.16M | 17.88M | 46.11M | 27.63M | 29.1M | 24.3M | 20.7M | 16.2M |
| Net Margin % | 33.67% | 32.75% | 29.86% | 28.37% | 27.12% | 29.78% | 18.26% | 16.56% | 13.79% | 13.76% | 12.42% | 10.31% | 12.03% | 12.12% | 13.6% | 11.55% | 10.64% | 10.32% | 11.27% | 12.73% | 12.54% | 16.85% | 14.56% | 17.03% | 4.56% | 14.01% | 9.27% | 10.51% | 9.9% | 10.4% | 10.89% |
| Net Income Growth % | 31.63% | 27.13% | 19.43% | 14.95% | -4.73% | 65.85% | 23.05% | 34.9% | 11.04% | 17.18% | 26.53% | -8.83% | 5.31% | -2.07% | 28.57% | 11.02% | -0.99% | -22.45% | -19.78% | 1.12% | -23.09% | 30.9% | -4.08% | 499.18% | -61.22% | 66.88% | -5.05% | 19.75% | 17.39% | 27.78% | 27.56% |
| Net Income (Continuing) | 759.63M | 651.95M | 512.81M | 429.38M | 373.54M | 392.08M | 236.41M | 192.12M | 126.48M | 128.26M | 109.45M | 86.5M | 94.88M | 90.09M | 92M | 71.56M | 64.46M | 65.47M | 81.19M | 104.65M | 103.49M | 134.55M | 102.79M | 107.16M | 17.88M | 46.11M | 27.63M | 29.98M | 24.3M | 20.7M | 17.4M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 31.99 | 26.54 | 20.45 | 16.93 | 14.18 | 13.40 | 7.90 | 6.34 | 4.57 | 3.98 | 3.39 | 2.65 | 2.72 | 2.48 | 2.55 | 1.79 | 1.42 | 1.33 | 1.70 | 1.82 | 1.59 | 1.86 | 1.31 | 1.40 | 0.32 | 0.89 | 0.56 | 0.62 | 0.50 | 0.43 | 0.37 |
| EPS Growth % | 35.96% | 29.78% | 20.79% | 19.39% | 5.82% | 69.62% | 24.61% | 38.73% | 14.82% | 17.4% | 27.92% | -2.57% | 9.68% | -2.75% | 42.46% | 26.06% | 6.77% | -21.76% | -6.59% | 14.47% | -14.52% | 41.98% | -6.43% | 337.5% | -64.04% | 58.93% | -9.68% | 24% | 16.28% | 16.22% | 32.14% |
| EPS (Basic) | - | 26.90 | 20.78 | 17.18 | 14.34 | 13.65 | 8.13 | 6.63 | 4.79 | 4.16 | 3.52 | 2.75 | 2.80 | 2.55 | 2.64 | 1.82 | 1.44 | 1.34 | 1.72 | 1.87 | 1.63 | 2.02 | 1.47 | 1.48 | 0.33 | 0.93 | 0.57 | 0.63 | 0.52 | 0.43 | 0.37 |
| Diluted Shares Outstanding | 23.75M | 24.56M | 25.08M | 25.37M | 26.35M | 29.26M | 29.93M | 30.29M | 31.18M | 32.24M | 32.31M | 32.61M | 34.86M | 36.29M | 36.06M | 39.99M | 45.31M | 48.78M | 49.37M | 57.55M | 65.13M | 73.58M | 78.46M | 76.54M | 56.33M | 51.88M | 49.39M | 48.48M | 48.81M | 47.93M | 46.91M |
| Basic Shares Outstanding | 23.63M | 24.24M | 24.68M | 24.99M | 26.04M | 28.73M | 29.07M | 28.98M | 29.71M | 30.86M | 31.13M | 31.4M | 33.87M | 35.33M | 34.91M | 39.36M | 44.9M | 48.66M | 48.94M | 56.05M | 63.58M | 66.56M | 69.92M | 72.4M | 54.8M | 49.47M | 48.13M | 47.5M | 46.45M | 47.93M | 46.91M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | 0.97% | 2.27% | 2.9% | 2.86% | 3.13% | 3.05% | 4.39% | 5.55% | 5.97% | 4.64% | 4.24% | 4.93% | 3.95% | 4.54% | 3.6% | 14.44% | 2.87% | 4.13% | 3.78% | 4.53% | 4.83% | 6.17% |
Regulatory Mortgage Market Disruption
According to the latest quarterly income statement, FICO achieved a significant revenue surge to $691.7 million in 2026Q2, representing a 38.7% year-over-year growth rate that appears to be driven by aggressive pricing strategies within the B2B Scores segment rather than purely organic volume expansion.
The sharp acceleration in top-line growth suggests that the company is successfully leveraging its utility-like status to push through price increases. Investors should monitor whether this growth trajectory remains sustainable if mortgage origination volumes continue to face headwinds from the current interest rate environment.
As reported in recent financial filings, FICO's gross margin expanded to 86.8% in 2026Q2, reflecting the highly scalable nature of its intellectual property-heavy scoring business which incurs minimal incremental costs for each additional credit pull processed through the company's established global financial infrastructure.
This margin profile is superior to traditional credit bureaus and aligns more closely with high-end financial analytics firms. The ability to maintain such elevated margins suggests significant pricing power, though it warrants investigation into whether these levels are vulnerable to potential regulatory intervention in pricing.
Based on the provided income statement data, FICO's operating margin reached 58.2% in 2026Q2, demonstrating that operating income is scaling significantly faster than gross profit as the company benefits from a fixed-cost structure that does not require proportional increases in overhead to support higher revenue.
The efficiency in managing SG&A relative to the revenue surge indicates strong operational discipline. This leverage suggests that the company is successfully transitioning its software segment toward a more profitable, recurring model without incurring excessive incremental operational complexity.
Analysis of the income statement reveals that stock-based compensation remains a consistent non-cash expense, totaling $45.3 million in 2026Q2, which investors should carefully reconcile against reported net income to ensure that EPS growth is not being artificially inflated by equity-based incentive programs.
While the company shows strong bottom-line performance, the persistent level of stock-based compensation warrants scrutiny regarding its impact on long-term shareholder dilution. The quality of earnings appears high, but the reliance on non-cash adjustments requires ongoing monitoring to confirm true cash-generative capabilities.
While FICO's recent performance appears stellar, the potential for regulatory shifts, specifically the FHFA's move toward a bi-merge credit report, poses a material risk that could fundamentally undermine the company's historical pricing power and market share dominance in the U.S. mortgage sector.
Short-term growth figures may mask the long-term threat posed by mandated competition and increased scrutiny of B2B pricing practices. Investors should consider that the current valuation may be overly optimistic if regulatory bodies successfully force a transition to alternative scoring models.
Quick answers to the most common questions about buying FICO stock.
For fiscal year 2025, Fair Isaac Corporation (FICO) reported total revenue of $1.99B. This represents a 1238.8% increase compared to $148.7M in 1996.
Fair Isaac Corporation (FICO) is profitable, generating $651.9M in net income for the fiscal year ending 2025 with a net profit margin of 32.7%.
Fair Isaac Corporation (FICO) reported an operating income of $924.9M, resulting in an operating profit margin of 46.5%. This margin reflects the operational efficiency of the business before interest and taxes.
Fair Isaac Corporation (FICO) generated $1.64B in gross profit for the year, representing a gross profit margin of 82.2%. This demonstrates the company's core pricing power and production efficiency.