What is SEI Investments's private bank — depreciation?

SEI Investments (SEIC) reported private bank — depreciation of $4.98M in Q3 2021.

What does private bank — depreciation mean?

The periodic expense recognized for the aging of physical assets used by the Private Bank business unit.

How do you interpret private bank — depreciation?

An increase may indicate significant recent capital investment in physical infrastructure, while a decrease might suggest aging assets or a shift toward asset-light service models.

How does private bank — depreciation compare across companies?

Comparable to depreciation expenses reported by other wealth management and financial services firms for their private client divisions.

SEI Investments SEIC Private Bank — Depreciation

Discontinued — last reported Q3 '21

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Other financials

Income statement

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Revenue$622.2M+12.8%

Operating income$189.5M+20.6%

Net income$174.5M+15.2%

EPS (diluted)$1.40+19.7%

Balance sheet

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Cash & equivalents$363.1M-48.9%

Total debt$69.5M+145%

Total equity$2.5B+8.5%

Total assets$396.9M-84.5%

Cash flow

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Operating cash flow$221.6M+51.3%

CapEx$6.4M-26.0%

Free cash flow$215.2M+56.1%

Valuation

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Market cap$10.76B-2.7%

Enterprise value$10.46B+1.4%

P/E14.6×-3.8×

P/S4.5×-0.6×

Profitability

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Operating margin27.9%+0.9pp

Net margin31.2%+3.4pp

FCF margin28%-1.1pp

Returns & leverage

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Return on equity31.4%+4.7pp

Debt / equity0×0.0×

Current ratio4.5×-1.1×

Where this comes from

Reported directly by SEI Investments in its filing.

Tagged under the XBRL concept us-gaap:Depreciation.

The official record: SEI Investments’s 10-Q, filed October 25, 2021, on SEC EDGAR. View the filing →

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Questions, answered.

What is SEI Investments's private bank — depreciation?: SEI Investments (SEIC) reported private bank — depreciation of $4.98M in Q3 2021.
What does private bank — depreciation mean?: The periodic expense recognized for the aging of physical assets used by the Private Bank business unit.
How do you interpret private bank — depreciation?: An increase may indicate significant recent capital investment in physical infrastructure, while a decrease might suggest aging assets or a shift toward asset-light service models.
How does private bank — depreciation compare across companies?: Comparable to depreciation expenses reported by other wealth management and financial services firms for their private client divisions.