Agilysys

AGYS · Nasdaq · Information Technology · Financials, fiscal 2017 to 2026

AGYS · Last close · November 6, 2026

$121.09

Agilysys' revenue rose 15.8% to $319 million in fiscal 2026. Its operating margin was 13.5%, up from 8.2% a year earlier. Free cash flow was $68 million, up 30.2%. The diluted share count rose 0.5%.

AGILYSYS, INC. Latest fiscal year ended March 31, 2026 10-K filed May 21, 2026 · 0001193125-26-234423 Updated November 5, 2026

Revenue

$319M

15.8%

Operating margin

13.5%

5.3 pts

Net income

$39M

67.0%

Free cash flow

$68M

30.2%

Return on capital

16.1%

2.9 pts

Market cap

$3.5B

Nov 6 close

P/E

77.1x

On $1.57 EPS, 4 qtrs

Operating margin is operating income as a share of revenue. Free cash flow is cash from operations minus capital spending. Return on capital is after-tax operating income as a share of the money invested in the business: debt plus equity, minus cash. Market cap is the last closing share price times the latest diluted share count, so it is approximate. P/E is the last close divided by diluted earnings per share over the last four quarters, or the latest fiscal year where the quarters aren't available; there is none when the company made a loss.

Charts show fiscal years, from the 10-K filings.

What Agilysys does

Agilysys makes software for the hospitality industry. Its customers include hotels, resorts, cruise lines, casinos, restaurants, universities, stadiums, healthcare facilities and corporate food service operators. Its main products are point-of-sale (POS) software, which handles orders and payments, and property management (PMS) software, which handles reservations and room operations, along with inventory, procurement and payment applications.

It sells subscription and maintenance services, software products, and professional services such as setup and training, and it connects its software to third-party hardware. Customers have been shifting from one-time software licenses to subscriptions. It competes with full-service providers of bundled POS and PMS products, some of them much larger than Agilysys, including Oracle, Shiji and Infor.

The company is headquartered in Alpharetta, Georgia, and operates across the Americas, Europe, the Middle East, Africa and Asia-Pacific. Its fiscal year ends in March.

Its biggest risks, as it describes them

Weak economic conditions can hurt its hospitality customers and their spending.
It must keep developing new products that win customers' acceptance.
Dependence on certain suppliers for hardware and technology.
Errors in its software or its setup could make products fail.
Cyber-attacks on its systems and data.

From Agilysys's annual report on Form 10-K, filed May 21, 2026, in our words; the 10-K has the full description and every risk factor. Updated with each new annual report.

Income statement

Revenue and net income

US$ billions, fiscal years; net losses in red. Revenue on the left axis, net income on the right; zero is the same line on both.

Revenue (left axis)Net income (right axis)

Gross profit, R&D and operating income

US$ billions, fiscal years. Gross profit is revenue minus the cost of what was sold; research and development is one of the costs paid from it; what remains after all operating costs is operating income. Losses in red.

Gross profitResearch and developmentOperating income

Margins

Percent of revenue

GrossOperatingNetFree cash flow

From fiscal 2022 to 2026, earnings per share grew 66.1% a year and net income 56.3% a year, as new shares raised the share count by 11% and diluted each share's earnings.

Diluted earnings per share

US$ per share, fiscal years, restated for any stock splits; loss years in red.

Returns on capital

Return on capital and on equity

Percent. Return on capital is after-tax operating income over the money invested in the business (debt plus equity, minus cash); return on equity is net income over shareholders' equity. Both use the average of opening and closing balances.

Return on capitalReturn on equity

Balance sheet

Cash and debt

US$ billions, at each fiscal year end. Debt includes finance leases.

Cash and short-term investmentsDebt

Assets, liabilities and equity

US$ billions, at each fiscal year end. Assets equal liabilities plus equity; negative equity in red.

Total assetsTotal liabilitiesShareholders' equity

Debt and liquidity ratios

Times. Debt to equity, current assets over current liabilities, and net debt over EBITDA (a full year's).

Debt to equityCurrent ratioNet debt to EBITDA

Five years at a glance

Fiscal year end	FY22	FY23	FY24	FY25	FY26
Cash and short-term investments	97	113	145	73	117
Debt incl. finance leases	—	—	0	24	0
Net debt (negative means net cash)	—	—	−145	−49	−117
Net debt to EBITDA	—	—	−6.9x	−1.6x	−2.2x
Debt to equity	—	—	0.0x	0.1x	0.0x
Interest coverage	526.6x	—	—	14.8x	87.2x
Current ratio	1.9x	2.0x	2.1x	1.1x	1.5x
Quick ratio	1.8x	1.9x	2.1x	1.1x	1.4x

US$ millions unless stated, at each fiscal year end. Net debt to EBITDA is debt minus cash, divided by operating income before depreciation and amortization: roughly how many years of those earnings the net debt equals. Debt to equity is debt as a multiple of shareholders' equity. Interest coverage is operating income divided by interest expense. The current ratio is current assets over current liabilities; the quick ratio leaves out inventory.

Cash flow

Cash from operations, capital spending and free cash flow

US$ billions, fiscal years. Free cash flow is cash from operations minus capital spending; negative years in red.

Cash from operationsCapital spendingFree cash flow

Stock-based compensation and buybacks

US$ billions, fiscal years. Shares paid to employees (stock-based compensation, a cost that uses no cash) against cash spent buying shares back. Buybacks that only match it leave the share count roughly where it was.

Stock-based compensationShare buybacks

Dividends and buybacks

US$ billions, cash paid in each fiscal year

DividendsShare buybacks

Diluted share count

Weighted-average diluted shares, millions

Projections

Project Agilysys' revenue, net income and earnings per share five years ahead in a bull, a base and a bear case with your own figures, and see the share prices your P/E estimates give them, or value it with a discounted cash flow model. Every projected figure is yours: it is not a forecast of ours.

Open Agilysys' projections

What Agilysys says to expect

Full fiscal year 2027: revenue guidanceThe Company is raising full year subscription revenue growth guidance of at least 32% year-over-year to at least 34% and full year fiscal 2027 total revenue to be $374 million to $378 million.

The company's own words, from its earnings release (Form 8-K, Exhibit 99), filed October 26, 2026. They are its expectations, not ours, and not a forecast or price target from The Filing Desk. Replaced when the next release is out.

Insider trades

Over the 12 months between November 7, 2025 and November 6, 2026, 1 insider bought $77,668 of Agilysys shares on the open market, and 7 insiders sold $24.3 million, $111,476 of it under trading plans set up in advance.

Buys and sells by month

US$ millions, open-market purchases (up) and sales (down) by officers, directors and 10% owners in each month.

BoughtSold

Date	Insider	Trade	Shares	Price	Value	Filing
Nov 2, 2026	William David Wood IIIChief Financial Officer	Sold plan	961	$116.00	$111,476	Form 4
Oct 29, 2026	John MutchDirector	Sold	750	$114.96	$86,222	Form 4
Sep 1, 2026	Joe Ahmed Youssef AbdelrahmanChief Commercial Officer	Sold	1,002	$114.64	$114,869	Form 4
Aug 18, 2026	Kyle C BadgerSVP, GC and Secretary	Sold	8,400	$114.06	$958,104	Form 4
Aug 18, 2026	William David Wood IIIChief Financial Officer	Sold	6,000	$114.72	$688,320	Form 4
Aug 7, 2026	Ramesh SrinivasanPresident & CEO, Director	Sold	25,000	$108.15	$2.7 million	Form 4
Aug 6, 2026	Ramesh SrinivasanPresident & CEO, Director	Sold	106,205	$106.62	$11.3 million	Form 4
Aug 5, 2026	Ramesh SrinivasanPresident & CEO, Director	Sold	66,205	$109.63	$7.3 million	Form 4
Jun 10, 2026	Kyle C BadgerSVP, GC and Secretary	Sold	3,000	$92.28	$276,850	Form 4
Mar 17, 2026	Melvin L KeatingDirector	Bought	240	$68.12	$16,348	Form 4
Mar 16, 2026	Melvin L KeatingDirector	Bought	160	$68.38	$10,941	Form 4
Feb 3, 2026	Melvin L KeatingDirector	Bought	300	$83.62	$25,085	Form 4

The latest 12 of 15 trades. Open-market purchases and sales by officers, directors and 10% owners, from their Form 4 filings with the SEC: one row per person, day and filing, at the day's average price. Grants, option exercises and shares withheld for tax aren't counted. Insiders buy and sell for many reasons, such as taxes, spreading their savings or a plan set up months earlier, so a trade on its own says little about where a company is heading. For information only, not investment advice. Insider trades at all companies

Indicators

Four widely used measures, worked out from the company's filings. The cutoffs are the ones their authors or users go by, not a verdict of ours.

Indicator	FY24	FY25	FY26
Piotroski F-score	—	4 of 9	7 of 9
Rule of 40	36.8%	35.1%	37.2%
Altman Z''	5.63	3.40	4.97
Accruals ratio	12.8%	−8.1%	−6.8%

Piotroski F-score: how many of nine simple tests of profitability, funding and efficiency the company passed in the year (Piotroski, 2000); 8 or 9 is strong, 0 to 2 weak. Rule of 40: revenue growth plus free cash flow margin; software investors treat 40% or more as the bar. Altman Z'': working capital, retained earnings, operating income and equity weighed against assets and liabilities (Altman, 1995); Altman puts above 2.6 in the safe zone and below 1.1 in the distress zone. Accruals ratio: net income minus cash from operations, over average total assets; lower means profit is backed by cash.

The nine F-score tests

Test	FY24	FY25	FY26
Net income is positive	Pass	Pass	Pass
Cash from operations is positive	Pass	Pass	Pass
Return on assets rose	Pass	Fail	Pass
Cash from operations exceeds net income	Fail	Pass	Pass
Debt fell relative to assets	—	Fail	Pass
Current ratio rose	Pass	Fail	Pass
Share count didn't rise	Fail	Fail	Fail
Gross margin rose	Fail	Pass	Pass
Revenue rose relative to assets	Pass	Fail	Fail
F-score	—	4 of 9	7 of 9

Companies that report no gross profit are scored on the other eight.

Compare

Put Agilysys side by side with any other company we cover: revenue, growth, margins, cash flow and returns, with ten years of charts.

Similar companies

Company	Year	Revenue growth	Operating margin	Free cash flow margin	Return on capital	Net debt to EBITDA	F-score	Compare
Agilysys	FY26	15.8%	13.5%	21.3%	16.1%	−2.2x	7
Commerce.com	FY25	2.8%	−4.7%	4.9%	−20.2%	—	6	Compare
Amplitude	FY25	14.7%	—	8.2%	—	—	—	Compare
Viant Technology	FY25	19.0%	3.5%	15.0%	14.5%	−6.2x	6	Compare
Consensus Cloud Solutions	FY25	−0.2%	43.0%	30.3%	22.8%	2.9x	7	Compare

Each company's latest fiscal year. Fiscal years end in different months, so the periods don't line up exactly. Free cash flow margin is free cash flow as a share of revenue. Net debt to EBITDA is explained under the balance sheet, and the F-score under Indicators.

10 years of figures

Fiscal year	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Income statement
Revenue	128	127	141	161	137	163	198	238	276	319
Revenue growth	6.1%	−0.2%	10.6%	14.1%	−14.7%	18.6%	21.8%	19.9%	16.1%	15.8%
Gross profit	64	64	74	81	89	102	121	144	172	200
Research and development	29	28	38	42	55	46	50	57	62	73
Operating income	−11	−12	−13	−34	−21	6	13	16	23	43
Net income	−12	−8	−13	−34	−21	6	15	86	23	39
Diluted EPS (US$)	−0.52	−0.37	−0.57	−1.47	−1.01	0.18	0.49	3.17	0.82	1.37
Diluted shares (millions)	23	23	23	23	24	26	26	27	28	28
Cash flow
Cash from operations	3	7	7	11	28	28	34	48	55	70
Capital expenditure	4	6	3	3	1	1	7	8	3	2
Free cash flow	−1	1	4	7	27	27	27	40	52	68
Dividends paid	0	0	0	0	0	0	0	0	0	0
Share buybacks	0	0	0	0	0	0	0	0	0	0
Acquisitions	0	0	0	0	0	24	0	0	146	0
Stock-based compensation	2	5	4	5	40	14	13	14	18	22
Balance sheet at fiscal year end
Cash and short-term investments	49	40	41	47	99	97	113	145	73	117
Debt incl. finance leases	—	—	—	—	—	—	—	0	24	0
Total assets	167	157	164	155	190	214	243	350	434	482
Total liabilities	54	49	63	83	110	117	134	114	168	155
Shareholders' equity	114	108	101	72	80	97	109	236	266	327
Margins and ratios
Gross margin	50.0%	50.6%	52.5%	50.4%	65.2%	62.4%	61.0%	60.8%	62.4%	62.6%
Operating margin	−8.9%	−9.5%	−9.3%	−21.2%	−15.3%	3.9%	6.5%	6.6%	8.2%	13.5%
Net margin	−9.2%	−6.6%	−9.3%	−21.2%	−15.3%	4.0%	7.4%	36.3%	8.4%	12.2%
Free cash flow margin	−0.6%	0.6%	2.8%	4.5%	19.7%	16.8%	13.8%	16.9%	19.0%	21.3%
Rule of 40 (growth + FCF margin)	5.5%	0.3%	13.4%	18.6%	5.0%	35.3%	35.5%	36.8%	35.1%	37.2%
Return on capital	—	—	—	—	—	—	—	—	13.3%	16.1%
Return on equity	−9.9%	−7.5%	−12.6%	−39.5%	−27.7%	7.3%	14.1%	49.9%	9.2%	13.1%
Return on assets	−6.7%	−5.2%	−8.2%	−21.4%	−12.2%	3.2%	6.4%	29.1%	5.9%	8.5%
Net debt to EBITDA	—	—	—	—	—	—	—	−6.9x	−1.6x	−2.2x

US$ millions unless stated. Where a later 10-K restated a year, the latest filed figure is shown. Download all figures (CSV, US$ millions)

Source: Agilysys' Form 10-K filings, from SEC EDGAR. For information only, not investment advice. The Filing Desk is not affiliated with Agilysys.