SSNC · CIK 1402436
What SS&C Technologies Holdings, Inc. told the SEC could break it.
SS&C carries heavy leverage: total indebtedness was $7,466.9 million at year-end 2025, including $4,716.9 million of variable-rate debt, so a 100-basis-point rate increase would add about $47.2 million in annual interest, constraining the cash flow it can put toward acquisitions and operations. Its delivery base is geographically concentrated, with substantial operations and roughly 7,900 employees in India, exposing it to that country's regulatory, economic and political uncertainty, exchange controls and tax changes. And because it serves regulated financial-services clients and runs a healthcare business under CMS and HHS oversight, it faces heightened scrutiny across the U.S., U.K. and other jurisdictions, where non-compliance could bring fines, penalties or license revocation.
3 self-disclosed vulnerabilities, pulled from its own filings, each in the company’s words, with the source. This is the risk register almost nobody reads.
In its own words
What could break it.
Geographic concentration
- India operations / workforcemedium
SS&C has substantial operations and ~7,900 employees in India, exposing its delivery base to Indian regulatory, economic and political uncertainty, exchange controls, and tax-policy changes.
“We have substantial operations and a significant number of employees in India and we are therefore subject to regulatory, economic and political uncertainties in India. As of December 31, 2025, we had approximately 7,900 employees located in India.”
Liquidity & debt
- high leverage / variable-rate debtmedium
Total indebtedness of $7,466.9M (incl. $4,716.9M variable-rate) at year-end 2025; a 100bp rate rise adds ~$47.2M annual interest, constraining cash flow available for acquisitions and operations.
“As of December 31, 2025, we had total indebtedness of $7,466.9 million and an additional $593.7 million available for borrowings under our revolving credit facility.”
SEC filing →As of 2026
Regulatory & policy
- financial-services and healthcare regulationmedium
As a service provider to regulated financial-services clients (and a healthcare business under CMS/HHS oversight), SS&C faces heightened scrutiny across the US, UK and other jurisdictions; non-compliance risks fines, license revocation and penalties.
“As a result, our relationships with our clients may subject us to increased scrutiny from a number of regulators and government entities that regulate the financial services industry in the U.S., the U.K. and the other jurisdictions in which we operate.”
SEC filing →As of 2026
The hidden graph
Who it depends on, and who depends on it.
Relationships surfaced from filings, including ones disclosed by the other side, which is how the non-obvious ones come to light.
In the MyPRIA app, this is checked against the companies you actually own.
← World Watch