NASDAQ$SSNC

SS&C Technologies Holdings Inc · Q4 2020 earnings

Q4 2020 earnings · · Investor relations

Briefing

SS&C's financial results demonstrated the resiliency of its business model, the stability of its client base, and the dedication of its workforce.

SS&C Technologies reported Q4 2020 GAAP revenue of $1,203.4 million, flat year-over-year, and GAAP EPS of $0.74, up 37.0%. Adjusted revenue was $1,206.1 million, down 0.5%, and adjusted EPS was $1.13, up 4.6%.

  • SS&C generated net cash from operating activities of $1,184.7 million for the twelve months ended December 31, 2020.
  • SS&C paid down $738.2 million in debt in 2020.
  • SS&C repurchased 3.7 million shares of common stock in 2020 for $227.7 million.
  • SS&C spent $471.0 million on research & development and capitalized software in 2020 and acquired three businesses for $138.9 million.

Headline financials

Total Revenue

$1.21B

Previous: $1.21B-0.5%
EPS (adj)

$1.13

Previous: $1.08+4.6%
Operating income margin

22.3%

Previous: 21.7%+2.8%
Adjusted consolidated EBITDA margin

39.5%

Previous: 40.5%-2.6%
Capital Expenditures

$9.4M

Previous: $15M-37.3%
Free Cash Flow

$420M

Previous: $558M-24.7%
Net Income

$197M

Previous: $142M+39.2%
Operating Income

$269M

Previous: $261M+2.8%
Gross Profit

$551M

Previous: $546M+0.9%
Cash & Equivalents

$209M

Previous: $153M+37.0%
Total Assets

$15.9B

Previous: $16.7B-4.9%
Stock-Based Comp

$21.9M

Previous: $16.7M+31.1%

Revenue & EPS history

SS&C · Revenue · Quarterly

$1.21B

Q4 2020-0.5%vs Q4 2019
Beat estimate in 15 of 16 quarters(94%)
ActualEstimate

Revenue by segment

SS&C · $1.2B total across 2 segments · Q4 2020

  • Software-enabled services
    $998M+2.5%
  • License, maintenance and related
    $205M-10.5%

Forward guidance

SS&C provided guidance for Q1 2021 and FY 2021.

Tailwinds

  • Q1 2021 Adjusted Revenue: $1,158.0 – $1,198.0 million
  • Q1 2021 Adjusted Net Income: $281.5 – $298.5 million
  • Q1 2021 Adjusted Diluted Earnings per Share: $1.05 – $1.11
  • FY 2021 Adjusted Revenue: $4,685.0 – $4,875.0 million
  • FY 2021 Adjusted Net Income: $1,185.0 – $1,270.0 million

Headwinds

  • FY 2021 Adjusted Diluted Earnings per Share: $4.36 – $4.64
  • FY 2021 Cash from Operating Activities: $1,240.0 – $1,320.0 million
  • FY 2021 Capital Expenditures: 2.6% – 3.0% of revenue
  • Q1 2021 Diluted Shares: 269.0 – 270.0 million
  • FY 2021 Diluted Shares: 271.5 – 274.0 million

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2020

Historical avgQ4 2020

+0.3%

Avg return

Earnings day

-0.3%

Avg return

5 days after

+0.3%

Avg return

30 days after

56%

37 / 66 earnings

Positive

+10.5%

Q3 2019

Best reaction

-17.4%

Q2 2019

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-3.8%-0.8%-4.3%
Q4 2025+3.2%-2.8%+1.1%
Q3 2025+4.6%+3.0%+3.7%
Q2 2025-1.2%+0.1%+1.5%
Q1 2025-6.1%-2.4%+3.0%
Q4 2024+6.0%+7.7%+5.0%
Q3 2024-7.6%-7.0%+0.4%
Q2 2024+7.4%+9.1%+10.0%
Q1 2024-0.5%+0.6%+0.5%
Q4 2023+3.0%+3.6%+1.9%
Q3 2023-1.3%+1.8%+13.1%
Q2 2023-8.8%-7.2%-10.9%
Q1 2023+6.5%+1.3%+0.5%
Q4 2022+5.0%+2.6%-5.8%
Q3 2022+3.9%+4.1%+6.2%
Q2 2022-5.9%-3.4%-6.6%
Q1 2022-4.8%-3.3%-4.7%
Q4 2021-7.3%-7.3%-9.1%
Q3 2021+6.5%+4.9%+5.5%
Q2 2021+5.1%+2.7%+1.6%
Q1 2021+3.4%+2.4%+1.7%
Q4 2020-3.0%-4.0%-0.5%
Q3 2020-3.8%-4.9%+10.5%
Q2 2020+1.4%+0.2%+11.0%
Q1 2020-2.2%+0.9%+3.3%
Q4 2019+1.6%+2.6%-30.3%
Q3 2019+10.5%+11.2%+15.3%
Q2 2019-17.4%-24.8%-24.6%
Q1 2019-10.7%-10.5%-15.4%
Q4 2018+8.0%+9.1%+12.2%
Q3 2018+4.5%+0.9%-1.8%
Q2 2018+5.2%+3.3%+10.0%
Q1 2018-2.7%-2.8%+2.5%
Q4 2017+0.5%+1.4%+5.7%
Q3 2017-3.5%-4.7%-2.8%
Q2 2017-1.2%-2.5%-4.6%
Q1 2017-1.5%-0.2%-0.3%
Q4 2016+8.3%+8.5%+10.7%
Q3 2016-4.2%-2.6%-3.7%
Q2 2016+3.1%-1.8%+1.6%
Q1 2016-5.6%
Q4 2015-5.4%
Q3 2015-3.5%
Q2 2015+4.3%
Q1 2015-5.7%
Q4 2014+3.4%
Q3 2014-0.6%
Q2 2014-3.0%
Q1 2014+4.0%
Q4 2013+3.8%
Q3 2013+0.3%
Q2 2013+3.4%
Q1 2013+7.0%
Q4 2012+7.4%
Q3 2012+1.8%
Q2 2012+1.0%
Q1 2011+1.1%
Q1 2012+1.3%
Q4 2011+1.7%
Q4 2009+1.7%
Q3 2010-0.7%
Q3 2011-0.7%
Q2 2011+2.2%
Q4 2010+2.2%
Q2 2010+2.2%
Q1 2010-1.4%

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