SEIC•SEIC•Net sales events grew from $69m in 2022 to $149.9m in 2025 and are annualizing at $269m after Q1’s $67.2m. Private banking operating profit rose 40% year-over-year to a 23% margin in Q1 2026, while share count dropped 8% to 121 million shares through $616m of buybacks in 2025.
Net sales events have climbed from $69 million in full-year 2022 to $149.9 million in 2025, with Q1 2026 delivering a record $67.2 million. This pace annualizes to $269 million, reflecting a sustained structural acceleration in asset inflows across SEI’s outsourcing platforms.
The private banking segment delivered a 40% increase in operating profit in Q1 2026, with margins expanding to 23%, over four times higher than three years ago. Standardizing the cloud-based SEI Wealth Platform and migrating legacy clients have reduced implementation friction and driven higher-margin growth.
SEI repurchased $616 million of shares in full-year 2025 against $55 million in stock-based compensation, lowering share count by 8% from 131.2 million at end-2023 to 121.0 million by March 2026. This dynamic has enhanced per-share earnings accretion as option vesting targets align with rising profits.
Approximately 80% of revenue derives from recurring management, administration, and distribution fees tied to client assets, positioning SEI as a technology infrastructure provider rather than a traditional fund manager. With 2025 operating cash flow of $607.7 million, ROIC at 25% and a net cash balance of $372 million, the stock trades near 16x trailing earnings versus a ten-year average of 18.7x.
