SEI Investments Company (SEIC) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-30.8%

$73.72

vs $106.51 price

Levered DCF

$76.40

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

15.47

Safe zone

Rating

A-

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	14.24×	18.45×	18.21×	16.7×	15.75×	18.84×	19.78×	14.3×
P/B	4.09×	4.76×	3.95×	4.06×	4.62×	4.85×	5.71×	4.54×
P/S	4.36×	5.05×	4.39×	3.98×	4.49×	5.01×	6.01×	4.45×
EV / EBITDA	10.73×	12.06×	11.38×	12.67×	12.14×	14.5×	16.87×	12.48×
Gross margin	59.2%	53.1%	51.3%	52.5%	56.7%	56.2%	55.8%	55.4%
Operating margin	27.3%	26.0%	22.1%	23.9%	28.8%	26.5%	27.9%	27.2%
Net margin	31.1%	27.3%	24.1%	23.9%	28.5%	26.6%	30.4%	31.1%
Current ratio	3.29×	4.08×	4.19×	3.65×	3.95×	4.1×	4.44×	4.03×
Debt / equity	0.01×	0.01×	0.01×	0.01×	0.04×	0.02×	0.03×	0×
Interest coverage	1,625.16×	980×	728.17×	635.18×	982.91×	732.16×	730.83×	685.25×
Dividend yield	1.2%	1.1%	1.4%	1.4%	1.2%	1.2%	1.0%	1.3%
Payout ratio	17.4%	20.7%	24.8%	23.1%	19.3%	23.2%	20.1%	18.6%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	29.2%	25.8%	21.7%	24.3%	29.4%	25.7%	28.8%	31.8%
Return on invested capital	17.0%	18.6%	15.2%	18.6%	21.7%	18.9%	19.6%	21.7%
Return on assets	21.9%	21.6%	18.3%	19.9%	23.2%	20.6%	23.3%	25.7%
Free cash flow yield	5.8%	5.3%	4.6%	6.2%	6.7%	4.9%	4.7%	7.1%
Earnings yield	7.1%	5.4%	5.5%	6.0%	6.4%	5.3%	5.1%	7.0%
Enterprise value	$9.7B	$9.9B	$7.6B	$7.1B	$7.9B	$7.7B	$9.1B	$6.5B
Net debt / EBITDA	-0.41×	-0.98×	-1.21×	-1.47×	-1.16×	-1.4×	-1.47×	-1.45×
Cash conversion cycle (days)	121	102	102	90	91	92	85	77