0001297989-26-000008
SEC filingFY25 营收增 13.6% 至 $2,087.7M，净利增 26.6%，AI 驱动增长强劲。
| 指标 | 本期 | 去年同期 | 同比 |
|---|---|---|---|
| Revenue | $2,087.7M | $1,838.4M | +13.6% |
| Gross Profit | $801.1M | $691.0M | +15.9% |
| Gross Margin | 38.4% | 37.6% | +80 bps |
| Operating Income | $313.8M | $263.6M | +19.0% |
| Operating Margin | 15.0% | 14.3% | +70 bps |
| Net Income | $251.0M | $198.3M | +26.6% |
| Diluted EPS | $1.54 | $1.21 | +27.3% |
| Operating Cash Flow | $350.7M | $268.5M | +30.6% |
| Free Cash Flow | $298.1M | $222.2M | +34.2% |
FY25 营收增长 13.6% 至 $2,087.7M，主要由现有客户业务扩张（+10.6%）驱动，新客户（含 2024 年 8 月收购的 ITI Data）贡献 3.0%。Healthcare and Life Sciences 分部表现最为强劲，营收增长 23.7%，主要受益于现有客户扩张 22.4%。Gross Margin 提升 80 bps 至 38.4%，得益于运营效率提升，部分被员工成本上升抵消。
Net Income 增长 26.6% 至 $251.0M，主要受营收增长、毛利率提升及有效税率下降（从 24.1% 降至 20.3%）驱动。有效税率下降主要受益于 excess tax benefits 和 foreign derived intangible income deduction。Operating Cash Flow 增长 30.6% 至 $350.7M，反映更高的现金收益和较低的营运资金需求。
| 分部 | 营收 | 同比 | 驱动 |
|---|---|---|---|
| Insurance | $710.6M | +8.3% | 现有客户扩张 7.5%，新客户 0.8% |
| Healthcare and Life Sciences | $532.5M | +23.7% | 现有客户扩张 22.4%，新客户（含 ITI Data）1.3% |
| Banking, Capital Markets and Diversified Industries | $482.4M | +13.0% | 现有客户扩张 5.6%，新客户（含 ITI Data）7.4% |
| International Growth Markets | $362.2M | +11.6% | 现有客户扩张 8.0%，新客户 3.9%，FX 逆风 0.3% |
| 项目 | 本期 | 上期/变化 |
|---|---|---|
| Cash & ST investments | $328.4M | $340.6M |
| Total Debt | $298.7M | $288.5M |
| Operating Cash Flow | $350.7M | +30.6% |
| Capex | $52.6M | +13.7% |
| Free Cash Flow | $298.1M | +34.2% |
Net Debt 为 -$29.7M（现金及短期投资 $328.4M 减去总债务 $298.7M），净现金状况良好。
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