SS&C Technologies Holdings, Inc. (SSNC)
Fair ValueFundamental
68
Price
$82.96
Market Cap
$19.73B
Part 1 · What the company is worth
Overview
SS&C sells software and back-office outsourcing services that run the administrative plumbing of the financial and healthcare industries: fund accounting and investor reporting for hedge funds and private equity, portfolio and trading systems for asset managers and insurers, and claims and benefits processing for healthcare payers. Much of its growth has come from acquiring smaller specialist software firms and folding their clients onto SS&C's platforms.
How it makes money
Clients pay recurring fees, often for multi-year contracts, to run their fund administration, recordkeeping or claims processing on SS&C's systems, so revenue is largely subscription- and outsourcing-based rather than one-off software sales. Because these functions are central to a client's daily operations, contracts tend to be sticky, and SS&C has repeatedly used acquisitions to add both new clients and new product lines to this recurring base.
Competitive moat
Switching costs · NarrowOnce a fund manager or insurer runs its books and client reporting through SS&C's systems, moving to another provider means migrating years of records and retraining staff during a period of regulatory scrutiny, which discourages switching. The advantage is narrow because the market for financial and healthcare back-office software includes both large-scale competitors and smaller niche specialists.
What drives demand
Moderately cyclicalRecurring contract fees provide a stable base, but some revenue tied to assets under administration rises and falls with financial market levels, while healthcare-related revenue is more insulated from the economic cycle. Overall demand is moderately sensitive to how much fund and asset managers are willing to spend on outsourcing and technology.
Key risks
- Acquisition integration risk — SS&C's growth strategy relies heavily on acquiring other companies; failing to integrate their systems and clients smoothly can hurt client satisfaction and the company's reputation.
- Cybersecurity and data protection — SS&C's systems hold confidential financial and health information for clients and their end customers; a breach could disrupt operations and expose the company to liability and reputational harm.
- Fragmented, competitive market — The company faces competition from both large-scale providers with broad offerings and smaller niche players focused on specific market segments, limiting pricing power.
- Regulatory compliance burden — Operating critical infrastructure for regulated financial and healthcare clients means SS&C itself must meet a wide range of industry regulations, and compliance failures could disrupt client operations.
The case for
Buyers argue that deeply embedded, recurring outsourcing contracts across financial services and healthcare give SS&C a resilient revenue base, and that a long history of successfully absorbing acquisitions shows a repeatable way to keep adding scale.
The case against
Sellers fear that a growth strategy built on continuous acquisitions eventually runs into integration problems or pricier targets, and that competition from both large and niche software providers limits how much SS&C can raise prices on its core recurring contracts.
Written by the editors, published on August 18, 2026
Direct competitors
Who this company fights with for the same customers
No editorial profile for this company yet
No competitor list for this company yet.
Balance Sheet & Liquidity
Revenue
$6.56B
Trailing 12 months (through 6/30/2026)
Net Income
$864M
Trailing 12 months (through 6/30/2026)
Free Cash Flow
$1.66B
Total Equity
$6.89B
Total Liabilities
$13.77B
Current Ratio
1.06
Interest Coverage
3.55
Debt/EBITDA
3.63
Earnings Per Share
Revenue & Net Income
Free Cash Flow
Income Breakdown
Historical statement
Margins over time
Debt over time
How heavy the debt is
Growth grid
Growth — Revenue
Fair Value Estimation
Fair Value
$78.00
Current Price
$82.96
Margin of Safety
-6.4%
Fair Value Range
$50.70 - $105.30
Spread across the valuation methods used, not a statistically calibrated confidence interval.
Estimation Methods
Valuation Metrics
P/E Ratio
23.91
ROE
11.6%
P/B Ratio
2.93
P/FCF
11.11
Gross Margin
48.1%
ROIC
8.0%
Profitability Radar
Value Creation (Economic Moat)
ROIC
8.0%
WACC
8.6%
ROIC − WACC
-0.6 pp
ROIC is roughly in line with the cost of capital — the company is barely covering its capital cost.
Fundamental Analysis Criteria
Passed (20)
- EPS shows upward trend
- EPS CAGR 15.83%
- Price CAGR 10.80%
- ROIC 8.0%
- Gross margin 48.1%
- P/FCF 11.11
- P/B ratio 2.93
- Debt/equity ratio
- Operating margin 23.6%
- Positive free cash flow
- CapEx intensity
- Current ratio
- Interest coverage
- Debt/EBITDA
- Return on tangible assets
- ROE 12.7%
- Revenue growth 5Y 6.1%
- Earnings surprise, average 2.7%
- Earnings quality (operating cash flow / net income) 2.10
- Share dilution -0.2%
Failed (6)
- Low reliance on intangibles
- Price below Graham Number
- DCF valuation (Overvalued)
- PEG ratio 3.76
- Net margin trend 13.2% vs 13.3%
- Piotroski F-Score 4/9
Unavailable (1)
- Dividend payout –
Piotroski F-Score
Mixed signals: some areas need attention
Earnings Quality
High quality: earnings backed by cash
Share Dilution
Buying back shares. Shareholder friendly
Institutional Holdings
Governance
Executive Team
| Name | Title | Age |
|---|---|---|
| Mr. William C. Stone | Founder, Chairman of the Board & CEO | 70 |
| Mr. Rahul Kanwar CPA | President & COO | 50 |
| Mr. Brian Norman Schell | Executive VP & CFO | 60 |
| Mr. Jason Douglas White | Senior VP, General Counsel, Chief Legal Officer & Corporate Secretary | 55 |
| Mr. Anthony Caiafa | Chief Technology Officer | - |
| Ms. Justine Stone | Head of Investor Relations | - |
| Mr. Eamonn Greaves | Global Head of Sales | - |
| Mr. Ezra Baylin | Senior Vice President & Global Head of Corporate Development | - |
| Ms. Meghan Rocha | MD & Head of Global Marketing | - |
| Ms. Darpan Bhargava | Senior Vice President & Global Head of Human Resources | - |
Audit Risk
1
Board Risk
5
Compensation Risk
3
Shareholder Rights Risk
4
Documents
- View document
Annual Report (10-K)
A yearly overview of the business, its financial results, and the risks it faces.
Filed on 2026-02-26
- View document
Quarterly Report (10-Q)
A snapshot of financial performance for the most recent three-month period.
Filed on 2026-07-30
- View document
Current Report (8-K)
An announcement of a major event, such as a leadership change or big news.
Filed on 2026-10-22
via SEC EDGAR
Income History
via SEC EDGAR
Part 2 · The price and its context
This part shows how the price has behaved, not whether the company is worth owning. Inside: technical analysis, potential, historical drawdowns, gamma exposure.
Market Reaction Profile
How much SSNC moves, measured on its daily prices.
More volatile than 38% of the tracked stocks (90-day volatility).
- Volatility 30d
- 26.6%
- Volatility 90d
- 31.7%
- Beta vs S&P 500 (1y)
- 0.46Correlation 0.21
- Max drawdown (12m)
- -30.8%
- ATR (14d, % of price)
- 2.45%
Earnings reactions
How SSNC moved around its past quarterly results.
Next earnings release
No upcoming release on the calendar.
What usually happens
- Over the last 12 releases the stock moved a median of 5.4% the next day, up or down.
- Next-day moves: up 7, down 5 (out of 12).
- Of the 5 releases that beat estimates, the stock fell the next day after 2.
Release history
| Date | When | EPS est. | EPS actual | Surprise | Gap | 1 day | 5 days |
|---|---|---|---|---|---|---|---|
| Oct 22, 2026 | After the close | 1.77 | 1.78 | +0.7% | -3.6% | -6.0% | n/a |
| Jul 23, 2026 | After the close | 1.71 | 1.76 | +2.8% | +7.9% | +10.4% | +15.3% |
| Apr 23, 2026 | After the close | 1.68 | 1.69 | +0.3% | -1.8% | -4.0% | -1.1% |
| Feb 5, 2026 | After the close | 1.64 | 1.69 | +3.1% | +2.4% | +3.2% | -5.1% |
| Oct 23, 2025 | After the close | 1.50 | 1.57 | +4.5% | +5.6% | +4.6% | +3.4% |
| Jul 23, 2025 | After the close | n/a | n/a | n/a | +1.6% | +2.6% | +2.1% |
| Apr 24, 2025 | After the close | n/a | n/a | n/a | -8.0% | -6.1% | -2.3% |
| Feb 6, 2025 | After the close | n/a | n/a | n/a | +5.8% | +6.0% | +8.3% |
| Oct 24, 2024 | After the close | n/a | n/a | n/a | -9.4% | -6.8% | -6.9% |
| Jul 25, 2024 | After the close | n/a | n/a | n/a | +4.4% | +6.3% | +6.1% |
| Apr 25, 2024 | After the close | n/a | n/a | n/a | +1.9% | -0.1% | +0.3% |
| Feb 13, 2024 | After the close | n/a | n/a | n/a | +4.5% | +4.9% | +6.1% |
Release dates from SEC 8-K filings.
Updated 10/24/2026
Historical statistics for educational purposes only. They are not forecasts and not investment advice.
Price reaction to the news
Latest news on SSNC and what the price did next.
Return of the stock minus return of SPY over the same days. A news item close to a price move did not necessarily cause it. Historical data for educational purposes only, not investment advice.
Latest News
Recent headlines for SSNC.