SSNCSS&C Technologies Holdings Inc
Services-Prepackaged Software
- Revenue
- $6.3B
- 6.6% YoY
- Operating margin
- 22.9%
- 0.3% YoY
- EBITDA
- $2.1B
- 5.8% YoY
- Market cap
- $18.9B
- Employees
- 28,000
- $224K revenue each
- Net debt / EBITDA
- 3.3×
- $7.1B net debt
- AI in 10-K
- 12.7
- mentions per 10K words
Takeover score 5 of 13
Fixable underperformance 3 of 7
- TSR below peersYes5 of 5 years3+ of last 5 years
- High CEO pay despite TSRYes$23M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo218% of net incomeCash flow under 80% of net income
- Dilutive SBCNo4% of revenueOver 10% of revenue
- Payouts exceed cash flowNo74% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyYes48% of assetsOver 40% of assets
- Shareholder dissentNo84% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeYes$224K · 14th pctBottom quartile of its SIC industry
- Quiet on AINo12.7 per 10K words · 95th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo3.3× EBITDA net debtMore cash than debt, positive EBITDA
- Buyout-sizedNo$18.9B market capMarket cap $500M–$5B
Catalysts 1 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingYes−$13M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $5.1B | $5.3B | $5.5B | $5.9B | $6.3B | 6.6% |
| Operating income | $1.2B | $1.1B | $1.2B | $1.3B | $1.4B | 6.9% |
| Net income | $801M | $649M | $609M | $762M | $799M | 4.9% |
| Operating cash flow | $1.4B | $1.1B | $1.2B | $1.4B | $1.7B | 26% |
| Capex | $51M | $63M | $57M | $61M | $81M | 32% |
| Stock-based comp | $114M | $125M | $160M | $203M | $258M | 27% |
| Buybacks | $488M | $476M | $472M | $738M | $1.0B | 40% |
| Dividends | $174M | $203M | $221M | $245M | $254M | 3.6% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $13M · 4
- Net
- −$13M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $25M | $53M | 128 | 222 |
| FY2024 | $26M | $32M | 110 | 176 |
| FY2023 | $20M | $19M | 87 | 141 |
| FY2022 | $13M | −$20M | 73 | 102 |
| FY2021 | $23M | $29M | 114 | 130 |