SS&C Technologies Holdings, Inc.
SSNC Technology Software Application
SS&C Technologies Holdings, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $6.3 billion, up 6.63% from fiscal 2024. In the quarter to June 2026, revenue grew 10.3%, EPS grew 33.8%, free cash flow grew 14.9% and total debt rose 11.0%, each against the same quarter a year earlier. Dividend growth for ten consecutive years, revenue growth for ten, operating cash flow growth for three.
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SS&C Technologies Holdings, Inc. (SSNC) Altman Z-score
SS&C Technologies Holdings, Inc.'s Altman Z-score for fiscal 2025 is 1.77, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 1.77 | 0.02 |
| FY2024 | 1.74 | 0.18 |
| FY2023 | 1.56 | 0.02 |
| FY2022 | 1.54 | (0.33) |
| FY2021 | 1.87 | 0.13 |
| FY2020 | 1.74 | 0.38 |
| FY2019 | 1.36 | 0.43 |
| FY2018 | 0.93 | (1.53) |
| FY2017 | 2.46 | 0.95 |
| FY2016 | 1.51 | 0.09 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.02 | — | 0.02 | |
| Retained earnings / total assets | 0.20 | — | 0.28 | |
| EBIT / total assets | 0.07 | — | 0.23 | |
| Market value of equity / total liabilities | 1.55 | — | 0.93 | |
| Sales / total assets | 0.30 | — | 0.30 | |
| Altman Z-score | Distress zone | 1.77 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Grey zone | 1.77 | ||
Z and Z″ put SS&C Technologies Holdings, Inc. in different zones: distress zone by Z, grey zone by Z″.
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| FICO Fair Isaac Corporation compare | 12.0× |
| ZM Zoom Communications, Inc. compare | 9.8× |
| TYL Tyler Technologies, Inc. compare | 7.2× |
| PTC PTC Inc. compare | 6.6× |
| GWRE Guidewire Software, Inc. compare | 6.0× |
| DT Dynatrace, Inc. compare | 4.6× |
| DOCU Docusign Inc. compare | 3.0× |
| U Unity Software Inc. compare | 2.5× |
| SSNC SS&C Technologies Holdings, Inc. | 1.8× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets