Fair Isaac (FICO) financial statements
Fair Isaac reported revenue of $2.0B in fiscal 2025, up 9.5% a year over 9 years.
Net income was $652M and the operating margin 46.5%, against 19.2% in 2016.
Free cash flow was $739M, and the company returned $1.4B in net buybacks.
The diluted share count fell 24% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Fair Isaac's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $881M | $935M | $1.0B | $1.2B | $1.3B | $1.3B | $1.4B | $1.5B | $1.7B | $2.0B |
| Cost of revenue | $265M | $288M | $313M | $337M | $361M | $332M | $302M | $311M | $348M | $354M |
| Gross profit | $616M | $647M | $687M | $823M | $933M | $984M | $1.1B | $1.2B | $1.4B | $1.6B |
| Research and development | $104M | $111M | $128M | $149M | $166M | $171M | $147M | $160M | $172M | $188M |
| Selling, general and admin | $329M | $337M | $377M | $414M | $421M | $396M | $384M | $401M | $463M | $513M |
| Operating income | $170M | $182M | $175M | $254M | $296M | $505M | $542M | $643M | $734M | $925M |
| Interest expense | $27M | $26M | $31M | $40M | $42M | $40M | $69M | $96M | $106M | $134M |
| Pre-tax income | $145M | $156M | $157M | $216M | $257M | $473M | $471M | $554M | $642M | $803M |
| Income tax | $35M | $23M | $30M | $24M | $21M | $81M | $98M | $124M | $129M | $151M |
| Net income | $109M | $133M | $126M | $192M | $236M | $392M | $374M | $429M | $513M | $652M |
| EPS (diluted) | $3.39 | $4.14 | $4.06 | $6.34 | $7.90 | $13.40 | $14.18 | $16.93 | $20.45 | $26.54 |
| Diluted shares | 32M | 32M | 31M | 30M | 30M | 29M | 26M | 25M | 25M | 25M |
| Gross margin | 69.9% | 69.2% | 68.7% | 71.0% | 72.1% | 74.7% | 78.1% | 79.4% | 79.7% | 82.2% |
| Operating margin | 19.2% | 19.5% | 17.5% | 21.9% | 22.9% | 38.4% | 39.4% | 42.5% | 42.7% | 46.5% |
| Net margin | 12.4% | 14.3% | 12.6% | 16.6% | 18.3% | 29.8% | 27.1% | 28.4% | 29.9% | 32.7% |
Balance sheet
Fiscal years, from Fair Isaac's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $76M | $106M | $90M | $106M | $157M | $195M | $133M | $137M | $151M | $134M |
| Receivables | $168M | $169M | $267M | $297M | $334M | $312M | $322M | $388M | $427M | $529M |
| Total current assets | $268M | $311M | $396M | $456M | $534M | $551M | $485M | $556M | $617M | $705M |
| Property, plant and equipment | $45M | $41M | $49M | $53M | $46M | $28M | $18M | $11M | $38M | $68M |
| Goodwill | $798M | $804M | $801M | $804M | $812M | $788M | $761M | $773M | $783M | $783M |
| Total assets | $1.2B | $1.3B | $1.3B | $1.4B | $1.6B | $1.6B | $1.4B | $1.6B | $1.7B | $1.9B |
| Total current liabilities | $246M | $327M | $474M | $491M | $415M | $559M | $331M | $368M | $380M | $849M |
| Long-term debt | $494M | $463M | $529M | $607M | $739M | $1.0B | $1.8B | $1.8B | $2.2B | $2.7B |
| Total liabilities | $774M | $829M | $1.0B | $1.1B | $1.3B | $1.7B | $2.2B | $2.3B | $2.7B | $3.6B |
| Shareholders' equity | $481M | $466M | $287M | $290M | $331M | -$111M | -$802M | -$688M | -$963M | -$1.7B |
| Net debt | $495M | $499M | $674M | $718M | $677M | $1.1B | $1.7B | $1.7B | $2.1B | $2.9B |
Cash flow
Fiscal years, from Fair Isaac's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $210M | $226M | $223M | $260M | $365M | $424M | $509M | $469M | $633M | $779M |
| Capital spending | $22M | $20M | $31M | $24M | $22M | $8M | $6M | $4M | $26M | $39M |
| Free cash flow | $188M | $206M | $192M | $236M | $343M | $416M | $503M | $465M | $607M | $739M |
| Stock-based compensation | $56M | $61M | $75M | $83M | $94M | $112M | $115M | $124M | $149M | $157M |
| Dividends paid | $2M | $1M | $0 | $0 | — | — | — | — | — | — |
| Share buybacks (net) | -$138M | -$188M | -$343M | -$229M | -$235M | -$874M | -$1.1B | -$406M | -$822M | -$1.4B |
| Free cash flow margin | 21.4% | 22.0% | 19.2% | 20.4% | 26.5% | 31.6% | 36.6% | 30.7% | 35.4% | 37.1% |
| Dividends per share | $0.08 | $0.04 | — | — | — | — | — | — | — | — |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for FICO.
Open FICO in InvestinglyQuestions
What was Fair Isaac's revenue in 2025?
$2.0B in fiscal 2025, from its 10-K filing.
How much free cash flow does Fair Isaac generate?
$739M in fiscal 2025 (operating cash flow minus capital spending).
From Fair Isaac's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.