Financials SS&C Technologies Holdings, Inc.

Equities

SSNC

US78467J1007

IT Services & Consulting

Market Closed - Nasdaq Other stock markets 04:00:00 2024-05-08 pm EDT			5-day change	1st Jan Change
63 ^USD	+0.45%		+2.91%	+3.09%

May. 03	SS&C Technologies Prices $750 Million Notes Offering	MT
Apr. 29	SS&C Technologies Unit to Borrow up to $2.78 Billion Loan	MT

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	15,516	18,621	20,845	13,114	15,126	15,581	-	-
Enterprise Value (EV) ¹	22,518	24,854	26,230	19,754	21,403	21,235	20,354	19,587
P/E ratio	37 x	31 x	27.4 x	21 x	25.6 x	22.8 x	19 x	16.2 x
Yield	0.69%	0.73%	0.83%	1.54%	1.44%	1.48%	1.58%	1.71%
Capitalization / Revenue	3.32 x	3.98 x	4.12 x	2.48 x	2.75 x	2.69 x	2.58 x	2.47 x
EV / Revenue	4.82 x	5.31 x	5.18 x	3.74 x	3.89 x	3.67 x	3.37 x	3.1 x
EV / EBITDA	12.3 x	13.4 x	12.7 x	9.84 x	10.1 x	9.42 x	8.49 x	7.69 x
EV / FCF	18.8 x	23 x	18.2 x	21.3 x	22.2 x	17 x	13.4 x	13.6 x
FCF Yield	5.32%	4.34%	5.51%	4.69%	4.5%	5.88%	7.47%	7.34%
Price to Book	3.04 x	3.26 x	3.4 x	2.19 x	2.39 x	2.26 x	2.07 x	1.83 x
Nbr of stocks (in thousands)	252,710	255,964	254,268	251,910	247,515	247,322	-	-
Reference price ²	61.40	72.75	81.98	52.06	61.11	63.00	63.00	63.00
Announcement Date	2/12/20	2/10/21	2/10/22	2/7/23	2/13/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	4,669	4,681	5,059	5,287	5,506	5,782	6,036	6,312
EBITDA ¹	1,828	1,854	2,067	2,007	2,111	2,254	2,397	2,547
EBIT ¹	1,743	1,782	2,005	1,943	2,044	2,188	2,326	2,458
Operating Margin	37.33%	38.07%	39.64%	36.76%	37.13%	37.85%	38.54%	38.94%
Earnings before Tax (EBT) ¹	531.7	775.8	1,037	876.1	857.7	966.3	1,133	1,321
Net income ¹	438.5	625.2	800	650.2	607.1	683.9	817.7	959.5
Net margin	9.39%	13.36%	15.81%	12.3%	11.03%	11.83%	13.55%	15.2%
EPS ²	1.660	2.350	2.990	2.480	2.390	2.759	3.315	3.894
Free Cash Flow ¹	1,198	1,078	1,445	926	963.6	1,250	1,520	1,437
FCF margin	25.66%	23.04%	28.56%	17.51%	17.5%	21.61%	25.19%	22.76%
FCF Conversion (EBITDA)	65.53%	58.16%	69.91%	46.13%	45.66%	55.43%	63.44%	56.43%
FCF Conversion (Net income)	273.18%	172.47%	180.6%	142.42%	158.72%	182.71%	185.94%	149.76%
Dividend per Share ²	0.4250	0.5300	0.6800	0.8000	0.8800	0.9342	0.9948	1.074
Announcement Date	2/12/20	2/10/21	2/10/22	2/7/23	2/13/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2
Net sales ¹	1,296	1,296	1,330	1,322	1,339	1,363	1,363	1,367	1,412	1,436	1,432	1,435	1,477	1,504	1,503
EBITDA ¹	524	514.8	471.2	502.1	519.1	509.6	503	534.8	563.3	557.9	540.6	563.2	593.5	590.7	584.4
EBIT ¹	508.6	498.6	455.3	486.5	502.6	493.6	485.8	518.3	546	541.1	525.1	545.4	578.5	575.9	572.3
Operating Margin	39.24%	38.47%	34.23%	36.8%	37.53%	36.2%	35.63%	37.92%	38.66%	37.69%	36.68%	38%	39.17%	38.29%	38.07%
Earnings before Tax (EBT) ¹	289.5	234.8	155.5	213.2	272.6	178.7	194.5	207.8	276.7	224.7	214.5	235.4	265.6	258.5	271.3
Net income ¹	250.9	172.1	110.6	160	207.5	126	130.7	156	194.4	157.6	159.3	174.7	197.3	191.3	200.8
Net margin	19.36%	13.28%	8.32%	12.1%	15.5%	9.24%	9.59%	11.41%	13.76%	10.98%	11.12%	12.17%	13.36%	12.72%	13.36%
EPS ²	0.9400	0.6400	0.4200	0.6100	0.8100	0.4900	0.5100	0.6100	0.7700	0.6200	0.6260	0.6864	0.7777	0.7850	0.8100
Dividend per Share ²	0.2000	0.2000	0.2000	0.2000	0.2000	0.2000	0.2000	-	0.2400	-	0.2400	0.2400	0.2484	0.2760	0.2760
Announcement Date	2/10/22	4/28/22	7/27/22	10/27/22	2/7/23	4/27/23	7/27/23	10/26/23	2/13/24	4/25/24	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	7,001	6,233	5,385	6,640	6,278	5,654	4,773	4,005
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	3.83 x	3.362 x	2.605 x	3.308 x	2.974 x	2.508 x	1.991 x	1.573 x
Free Cash Flow ¹	1,198	1,078	1,445	926	964	1,250	1,521	1,437
ROE (net income / shareholders' equity)	20.9%	21.2%	22.6%	20%	18.9%	17.4%	17.8%	17.3%
ROA (Net income/ Total Assets)	6.15%	7.02%	4.81%	3.83%	6.75%	5.77%	6.69%	5.6%
Assets ¹	7,124	8,904	16,632	16,994	9,000	11,844	12,216	17,135
Book Value Per Share ²	20.20	22.30	24.10	23.80	25.50	27.90	30.40	34.40
Cash Flow per Share	5.030	4.870	5.350	4.330	-	-	-	-
Capex ¹	130	106	137	208	252	255	258	268
Capex / Sales	2.79%	2.27%	2.7%	3.94%	4.57%	4.41%	4.27%	4.25%
Announcement Date	2/12/20	2/10/21	2/10/22	2/7/23	2/13/24	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for SS&C Technologies Holdings, Inc.

Trading Rating

Investor Rating

ESG Refinitiv

C-

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

63 USD

Average target price

72.5 USD

Spread / Average Target

+15.08%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Technology Consulting & Outsourcing Services

	1st Jan change	Capi.
SS&C TECHNOLOGIES HOLDINGS, INC.	+3.09%	15.58B
VERISK ANALYTICS, INC.	+2.39%	34.89B
SAMSUNG SDS CO.,LTD.	-6.41%	9.02B
OTSUKA CORPORATION	+3.10%	7.25B
POSCO DX COMPANY LTD.	-42.99%	4.71B
NS SOLUTIONS CORPORATION	+8.63%	2.94B
NEC NETWORKS & SYSTEM INTEGRATION CORPORATION	+6.56%	2.43B
DHC SOFTWARE CO.,LTD.	-13.45%	2.37B
CHINA TRANSINFO TECHNOLOGY CO., LTD	-14.99%	2.07B
CHENGDU INFORMATION TECHNOLOGY OF CHINESE ACADEMY OF SCIENCES CO.,LTD	-5.04%	1.17B

Technology Consulting & Outsourcing Services