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FICO

Fair Isaac Corporation

FICO

Fair Isaac Corporation • NYSE
$1805.83 ▲ 0.48% (+8.56)
Market Cap $43.77 B
52w High $2400.00
52w Low $1300.00
Dividend Yield 0%
P/E 68.02
Volume 48.64K
Outstanding Shares 24.24M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q4-2025 $515.751M ▼ $176.497M ▼ $155.014M ▼ 30.056% ▼ $6.484 ▼ $206.48M ▼
Q3-2025 $536.415M ▲ $186.326M ▲ $181.789M ▲ 33.89% ▲ $7.49 ▲ $273.871M ▲
Q2-2025 $498.735M ▲ $165.457M ▼ $162.615M ▲ 32.605% ▼ $6.67 ▲ $247.809M ▲
Q1-2025 $439.968M ▼ $173.095M ▲ $152.528M ▲ 34.668% ▲ $6.26 ▲ $183.152M ▼
Q4-2024 $453.809M $167.057M $135.691M 29.9% $5.54 $203.713M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2025 $134.136M ▼ $1.868B ▲ $3.614B ▲ $-1.746B ▼
Q3-2025 $189.049M ▲ $1.862B ▲ $3.259B ▲ $-1.397B ▼
Q2-2025 $146.641M ▼ $1.836B ▲ $2.96B ▲ $-1.124B ▲
Q1-2025 $184.254M ▲ $1.707B ▼ $2.845B ▲ $-1.138B ▼
Q4-2024 $150.667M $1.718B $2.681B $-962.679M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q4-2025 $155.014M ▼ $223.669M ▼ $-13.329M ▼ $-263.537M ▼ $-54.913M ▼ $219.498M ▼
Q3-2025 $181.789M ▲ $286.223M ▲ $-10.507M ▲ $-239.069M ▼ $42.408M ▲ $276.239M ▲
Q2-2025 $162.615M ▲ $74.918M ▼ $-10.941M ▼ $-103.505M ▲ $-37.613M ▼ $65.491M ▼
Q1-2025 $152.528M ▲ $193.997M ▼ $-8.942M ▼ $-144.218M ▲ $33.587M ▲ $186.826M ▼
Q4-2024 $135.691M $226.478M $-7.559M $-227.942M $-5.376M $219.355M

Revenue by Products

Product Q1-2025Q2-2025Q3-2025Q4-2025
Applications
Applications
 $0 ▲$0 ▲$0 ▲$200.00M ▲
Scores
Scores
 $240.00M ▲$300.00M ▲$320.00M ▲$310.00M ▼
Software
Software
 $200.00M ▲$200.00M ▲$210.00M ▲$0 ▼

Five-Year Company Overview

Income Statement

Income Statement FICO’s income statement shows a business that has steadily become more profitable over the past several years. Revenue has grown each year, with growth picking up more recently rather than slowing down. Profitability at every level – from gross profit to operating profit to net income – has improved, suggesting good pricing power, strong customer retention, and tight cost control. Margins look strong for a software company, which points to a scalable, high‑value product set rather than a volume‑driven, low‑margin model. One small nuance: earnings dipped slightly earlier in the period before moving decisively higher, which implies the company absorbed some investment or transition costs and then converted that into stronger profitability. Overall, the earnings profile is healthy, growing, and increasingly efficient.

Balance Sheet

Balance Sheet The balance sheet is the main area that calls for closer attention. Total assets have grown gradually, reflecting an asset‑light software business rather than a capital‑heavy one. Cash on hand is modest but has been relatively stable, which puts more emphasis on the reliability of ongoing cash generation. Debt, however, has climbed meaningfully over the period, and reported shareholder equity is negative and becoming more negative. This combination usually signals aggressive share repurchases and financial engineering rather than operating distress, but it does mean the company is highly leveraged on paper. The structure can be tax‑efficient and shareholder‑friendly when things go well, yet it leaves less cushion if growth slows or credit markets tighten.

Cash Flow

Cash Flow Cash flow is a notable strength. Operating cash flow has risen in line with, and in some years faster than, accounting earnings, indicating that profits are backed by real cash and not just bookkeeping. Free cash flow is very close to operating cash flow, because capital spending needs are low – a classic trait of mature, high‑margin software and analytics businesses. This gives FICO meaningful flexibility to service debt, invest in new products, or return capital to shareholders. The key trade‑off is that despite strong cash generation, the company keeps only a modest cash balance while carrying sizable debt, so it depends on continued steady cash inflows and ongoing access to capital markets.

Competitive Edge

Competitive Edge FICO’s competitive position is unusually strong and anchored by the FICO Score, which has become the default language of consumer credit risk in the United States and many other markets. Lenders, regulators, and consumers all recognize and rely on this score, creating powerful network effects and very high switching costs. Banks have built systems, models, and compliance processes around FICO, which makes replacing it slow, risky, and expensive. On top of that, FICO owns proprietary algorithms and a sizable patent portfolio in analytics and AI, giving it a technology edge. Its fraud detection and decision‑management tools deepen client integration and reduce customer churn. The main strategic risks are regulatory changes in credit reporting, pressure from alternative scoring models using new data sources, and dependence on the health of financial services as a sector. Still, the overall moat remains wide by software standards.

Innovation and R&D

Innovation and R&D Innovation is central to FICO’s story. The company is not just a credit score provider; it has evolved into a broader decision‑management and AI analytics platform. Its long history in predictive modeling, fraud detection, and responsible AI gives it a credible foundation as the industry shifts into more advanced machine learning and generative AI. The FICO Platform, fraud solutions like Falcon, and a growing ecosystem via the FICO Marketplace all point to a platform strategy: embed FICO deeper into client workflows and let partners add value on top. Initiatives like UltraFICO and the use of alternative data aim to expand the addressable market by serving consumers with thinner credit files. The opportunity is to stay at the center of risk and decision analytics as data grows more complex; the risk is that AI, regulation, and data privacy are moving targets, so FICO must keep investing consistently just to maintain its edge.

Summary

Overall, FICO combines a strong, high‑margin, cash‑generative business model with an unusually entrenched position in the financial system. Earnings and cash flow trends are clearly positive, and the company has successfully translated its legacy credit‑scoring leadership into a broader suite of analytics and AI‑driven decisioning tools. The main financial watchpoint is its leveraged balance sheet and negative equity, which reflect an aggressive capital structure that works best when growth and cash generation remain robust. Strategically, FICO benefits from deep integration, brand trust, and network effects, but it operates in a regulatory‑sensitive, rapidly evolving data and AI landscape. The story is one of a mature yet still innovating software company with a wide moat, offset by higher financial leverage and ongoing innovation and regulatory execution risk.

NEWS

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