Latest Ratios: P/E Ratio 18.6x · EV/EBITDA 18.4x · ROE 28.9%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $12.6B | $10.3B | $10.9B | $8.5B | $8.0B | $8.7B | $8.6B | $10.1B | $7.4B | $11.7B | $8.1B |
| Enterprise Value | $12.2B | $9.9B | $10.1B | $7.7B | $7.2B | $8.0B | $7.8B | $9.3B | $6.7B | $10.9B | $7.4B |
| P/E Ratio → | 18.61 | 14.57 | 18.70 | 18.37 | 16.85 | 15.99 | 19.16 | 20.21 | 14.71 | 28.86 | 24.32 |
| P/S Ratio | 5.47 | 4.47 | 5.11 | 4.43 | 4.03 | 4.55 | 5.09 | 6.15 | 4.59 | 7.64 | 5.79 |
| P/B Ratio | 4.85 | 3.80 | 4.82 | 3.99 | 4.10 | 4.69 | 4.92 | 5.83 | 4.68 | 7.90 | 6.23 |
| P/FCF | 21.50 | 17.56 | 19.20 | 21.89 | 16.30 | 15.04 | 20.88 | 21.68 | 14.46 | 31.23 | 23.63 |
| P/OCF | 20.70 | 16.91 | 17.46 | 19.01 | 14.15 | 13.79 | 17.52 | 18.61 | 12.66 | 25.35 | 19.09 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 4.31 | 4.73 | 4.01 | 3.61 | 4.16 | 4.65 | 5.67 | 4.12 | 7.17 | 5.30 |
| EV / EBITDA | 18.37 | 14.91 | 16.04 | 15.42 | 12.75 | 12.35 | 14.76 | 17.27 | 12.88 | 23.17 | 16.58 |
| EV / EBIT | 19.45 | 12.04 | 13.46 | 12.92 | 15.11 | 14.42 | 17.54 | 20.31 | 15.15 | 27.58 | 19.75 |
| EV / FCF | — | 16.93 | 17.78 | 19.81 | 14.62 | 13.75 | 19.07 | 19.98 | 13.00 | 29.32 | 21.61 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 59.2% | 59.2% | 53.1% | 51.3% | 52.5% | 56.7% | 56.2% | 55.8% | 55.4% | 55.0% | 54.5% |
| Operating Margin | 27.3% | 27.3% | 26.0% | 22.1% | 23.9% | 28.8% | 26.5% | 27.9% | 27.2% | 26.0% | 26.8% |
| Net Profit Margin | 31.1% | 31.1% | 27.3% | 24.1% | 23.9% | 28.5% | 26.6% | 30.4% | 31.1% | 26.5% | 23.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 28.9% | 28.9% | 26.5% | 22.6% | 24.9% | 30.4% | 25.7% | 30.1% | 33.0% | 29.1% | 25.7% |
| ROA | 24.1% | 24.1% | 22.3% | 18.9% | 20.1% | 24.2% | 20.7% | 24.3% | 26.5% | 23.2% | 20.7% |
| ROIC | 18.8% | 18.8% | 18.6% | 15.4% | 18.2% | 22.3% | 18.7% | 20.4% | 21.4% | 21.2% | 21.7% |
| ROCE | 24.2% | 24.2% | 24.7% | 20.4% | 23.9% | 28.8% | 24.1% | 26.1% | 27.2% | 26.8% | 27.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.04 | 0.02 | 0.03 | — | 0.02 | — |
| Debt / EBITDA | 0.04 | 0.04 | 0.05 | 0.05 | 0.05 | 0.12 | 0.08 | 0.09 | — | 0.06 | — |
| Net Debt / Equity | — | -0.14 | -0.36 | -0.38 | -0.42 | -0.40 | -0.43 | -0.46 | -0.47 | -0.48 | -0.53 |
| Net Debt / EBITDA | -0.56 | -0.56 | -1.29 | -1.62 | -1.46 | -1.16 | -1.40 | -1.47 | -1.45 | -1.51 | -1.55 |
| Debt / FCF | — | -0.63 | -1.43 | -2.08 | -1.68 | -1.30 | -1.81 | -1.70 | -1.46 | -1.91 | -2.03 |
| Interest Coverage | 2130.23 | 2130.23 | 1327.39 | 1020.99 | 635.18 | 982.91 | 732.16 | 730.83 | 685.25 | 508.25 | 707.52 |
Net cash position: cash ($400M) exceeds total debt ($29M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.29 | 3.29 | 4.08 | 4.19 | 3.65 | 3.95 | 4.10 | 4.44 | 4.03 | 4.14 | 4.16 |
| Quick Ratio | 3.29 | 3.29 | 4.08 | 4.19 | 3.65 | 3.95 | 4.10 | 4.44 | 4.03 | 4.14 | 4.16 |
| Cash Ratio | 1.03 | 1.03 | 2.21 | 2.36 | 2.14 | 2.34 | 2.47 | 2.87 | 2.55 | 2.71 | 2.79 |
| Asset Turnover | — | 0.70 | 0.79 | 0.76 | 0.84 | 0.81 | 0.78 | 0.77 | 0.82 | 0.82 | 0.86 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.9% | 1.2% | 1.1% | 1.4% | 1.4% | 1.2% | 1.2% | 1.0% | 1.3% | 0.8% | 1.0% |
| Payout Ratio | 17.4% | 17.4% | 20.7% | 24.8% | 23.1% | 19.3% | 23.2% | 20.1% | 18.6% | 22.0% | 25.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.4% | 6.9% | 5.3% | 5.4% | 5.9% | 6.3% | 5.2% | 4.9% | 6.8% | 3.5% | 4.1% |
| FCF Yield | 4.7% | 5.7% | 5.2% | 4.6% | 6.1% | 6.6% | 4.8% | 4.6% | 6.9% | 3.2% | 4.2% |
| Buyback Yield | 5.0% | 6.1% | 4.6% | 3.6% | 4.3% | 4.7% | 5.0% | 3.4% | 5.5% | 2.1% | 3.6% |
| Total Shareholder Yield | 5.9% | 7.3% | 5.7% | 5.0% | 5.7% | 5.9% | 6.2% | 4.4% | 6.7% | 2.9% | 4.6% |
| Shares Outstanding | — | $125M | $132M | $134M | $137M | $143M | $149M | $155M | $161M | $162M | $164M |
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying SEIC stock.
SEI Investments Company's current P/E ratio is 18.6x. The historical average is 25.8x. This places it at the 20th percentile of its historical range.
SEI Investments Company's current EV/EBITDA is 18.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 15.7x.
SEI Investments Company's return on equity (ROE) is 28.9%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 35.9%.
Based on historical data, SEI Investments Company is trading at a P/E of 18.6x. This is at the 20th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
SEI Investments Company's current dividend yield is 0.95% with a payout ratio of 17.4%.
SEI Investments Company has 59.2% gross margin and 27.3% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
SEI Investments Company's Debt/EBITDA ratio is 0.0x, indicating low leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Model risk and market beta
Metrics are mathematically derived from official filings.
Premium Multiple, Utility-Like Stability
SEIC trades at 4.77x book and 18.3x trailing earnings, a premium to peers like Northern Trust (2.65x P/B), reflecting its sticky platform model. According to recent market data, the forward P/E of 16.2x implies modest growth expectations.
The P/B premium over asset managers (BEN at 1.23x, IVZ at 1.03x) suggests the market is pricing SEIC as a technology-enabled service provider rather than a pure asset manager. However, the P/B of 4.77x is elevated relative to its own historical range (17-22x P/E, 17-20x P/B), indicating that current valuation already embeds expectations of sustained high returns. The PEG of 1.36 suggests the growth rate justifies the multiple, but investors should monitor whether the recent EPS beat translates into durable organic growth.
ROE Decomposition: Fee Dominance, Low Leverage
ROE improved to 7.4% in Q2 2026 from 6.0% a year earlier, driven by a 5.9% ROA and 98.9% fee income, as per SEIC's latest financials. The near-zero NIM (0.2%) underscores that profitability is not interest-driven.
DuPont analysis reveals that SEIC's ROE is primarily a function of asset utilization (ROA of 5.9%) rather than financial leverage (equity/assets of 0.76). The high fee mix (98.9%) insulates the business from interest rate volatility, but also ties earnings to market levels and client activity. The net margin of 31.1% exceeding operating margin of 27.3% suggests non-operating income, possibly from investment gains, is boosting bottom-line profitability—a trend that may not be sustainable.
NIM Compression, Efficiency Volatility
NIM contracted to 0.2% in Q2 2026 from 0.5% a year earlier, while the efficiency ratio swung from 25% to 50% over two quarters, based on reported figures. This reflects lower rates and variable compensation costs.
The NIM decline is consistent with the low-rate environment, but SEIC's minimal reliance on net interest income (NII is only ~1% of revenue) limits the impact on overall profitability. The efficiency ratio volatility is more concerning: the jump to 50% in Q1 and Q2 2026 from 25-27% in prior quarters suggests either a one-time cost spike or a new cost structure. Given the company's heavy technology investments, investors should assess whether this is a temporary blip or a permanent shift in operating leverage.
Fortress Balance Sheet, Minimal Leverage
SEIC's equity-to-assets ratio of 0.76 and near-zero debt (D/E of 0.01%) indicate a fortress capital structure, as per recent balance sheet data. This provides ample capacity for capital return and strategic investments.
With $395.7M in cash and $344.4M in securities, SEIC holds a liquidity buffer that far exceeds its operational needs. The conservative capital allocation, historically favoring organic R&D over acquisitions, has kept leverage minimal. However, the aggressive buyback pace (142% of net income in Q2 2026) may be unsustainable if earnings falter, though the fortress balance sheet provides a cushion. The low NIM and potential unrealized losses in AOCI warrant monitoring, as they could pressure equity if rates rise.
Provision Spike Raises Questions
Loan loss provisions rose to $121.5M in Q2 2026, up from $115.9M in Q1, according to SEIC's income statement, representing a significant portion of net income. This suggests potential credit stress or reserve building.
While SEIC is not a traditional lender, the elevated provisions are notable given its asset management focus. The provision amount exceeds net income, implying either a conservative reserve build or underlying credit deterioration in its securities portfolio. Given the low NIM and the nature of its balance sheet, these provisions may relate to investment securities rather than loans. Investors should scrutinize the composition of these provisions and whether they are one-time or recurring.
P/E Misleads: Focus on Fee-Based Earnings
The most misapplied ratio for SEIC is P/E, as its earnings are volatile due to provisions and non-operating income. According to reported figures, net margin (31.1%) exceeds operating margin (27.3%), obscuring core profitability.
P/E for SEIC can be distorted by one-time items such as investment gains or loan loss provisions, which are not indicative of recurring earnings power. A more appropriate metric is P/B or P/TBV, which better captures the value of its sticky platform and recurring fee streams. Additionally, investors should adjust for capitalized software costs and non-operating income to derive a 'core' P/E that reflects the sustainability of earnings. The current P/E of 18.3x may understate or overstate value depending on the quality of earnings.