Record Q4 Adjusted Revenue and EPS
Adjusted Q4 revenue of $1.655 billion, up 8% year-over-year; adjusted diluted EPS of $1.69, up 18% year-over-year.
Record EBITDA and Margin Expansion
Adjusted consolidated EBITDA of $651 million (record), up 8.7% year-over-year, with an adjusted consolidated EBITDA margin of 39.3%, a 20 basis-point expansion.
Solid Organic Growth and Strong Segment Performance
Adjusted organic revenue growth of 5.3% (constant currency) in Q4; GIDS revenue growth of 13.2% and GlobeOp revenue growth of 9.6%; GlobeOp noted new opportunities in Australia (superannuation mandates).
Strong Cash Generation and Conversion
Cash from operating activities for the twelve months ended 12/31/2025 was $1.745 billion, up 26% year-over-year; operating cash flow per share $6.89, up $1.42 versus 2024; full-year cash conversion above 100% for the past three years.
Significant Shareholder Returns
Returned $384 million to shareholders in Q4 (including $319 million to repurchase 3.7 million shares at an average price of $85.81 and $66 million in dividends); repurchased over $1 billion of shares in 2025 (12.3 million shares at an average price of $84.12); diluted share count down to 251.5 million from 254.5 million year-over-year.
Positive 2026 Guidance and Margin Targeting
Q1 2026 revenue guidance $1.608B–$1.648B (implying ~5% organic growth at midpoint); full-year 2026 guidance calls for ~5.1% organic revenue growth at midpoint, targeted annual EBITDA expansion of 50 basis points, goal of a 40% margin in Q4, adjusted diluted EPS guidance of $6.70–$7.02 (approximately 12% growth at midpoint), and expected operating cash flow of $1.713B–$1.813B.