SEICSEI INVESTMENTS CO
Security Brokers, Dealers & Flotation Companies
- Revenue
- $2.3B
- 8.1% YoY
- Operating margin
- 27.3%
- 5.2% YoY
- EBITDA
- $627M
- 14% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- -0.6×
- −$367M net debt
- AI in 10-K
- —
Red flags 1 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear85% of net incomeCash flow under 80% of net income
- Dilutive SBCClear2% of revenueOver 10% of revenue
- Payouts exceed cash flowFired124% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear15% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $1.9B | $2.0B | $1.9B | $2.1B | $2.3B | 8.1% |
| Operating income | $553M | $476M | $425M | $552M | $627M | 14% |
| Net income | $547M | $475M | $462M | $581M | $715M | 23% |
| Operating cash flow | $633M | $566M | $447M | $622M | $608M | 2.4% |
| Capex | $26M | $39M | $25M | $32M | $23M | 30% |
| Stock-based comp | $41M | $39M | $31M | $59M | $54M | 8.6% |
| Buybacks | $408M | $345M | $309M | $500M | $628M | 26% |
| Dividends | $106M | $110M | $115M | $120M | $124M | 3.2% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $8M · 4
- Net
- −$8M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | — | — | 152 | 202 |
| FY2024 | — | — | 135 | 247 |
| FY2023 | — | — | 102 | 182 |
| FY2022 | — | — | 93 | 130 |
| FY2021 | — | — | 95 | 180 |