Business Description
Fiserv, Inc. is a global leader in payments and financial services technology solutions. Headquartered in Milwaukee, Wisconsin, the company provides merchant acquiring, digital commerce, and point-of-sale systems, alongside core account processing and digital banking for financial institutions. Fiserv is distinguished by its massive scale, processing billions of transactions globally, and its widely adopted Clover point-of-sale platform.
Financial Statements
In thousands, USD
| FY 2025 | FY 2024 | FY 2023 | FY 2022 | |
|---|---|---|---|---|
| Total Revenues | 21,193,000 | 20,456,000 | 19,093,000 | 17,737,000 |
| Cost of Sales | 8,612,000 | 8,013,000 | 7,670,000 | 7,992,000 |
| Gross Profit | 12,581,000 | 12,443,000 | 11,423,000 | 9,745,000 |
| Selling, General & Administrative Expenses | 6,883,000 | 6,564,000 | 6,576,000 | 6,059,000 |
| Other Operating Expenses | (120,000) | — | (167,000) | (54,000) |
| Operating Profit | 5,818,000 | 5,879,000 | 5,014,000 | 3,740,000 |
| Interest Expense | (1,493,000) | (1,195,000) | (976,000) | (733,000) |
| Non-Operating Income | (61,000) | (178,000) | (140,000) | (94,000) |
| Total Non-Operating Income | (1,554,000) | (1,373,000) | (1,116,000) | (827,000) |
| Income Before Provision for Income Taxes | 4,264,000 | 4,506,000 | 3,898,000 | 2,913,000 |
| Provision for Income Taxes | 811,000 | 641,000 | 754,000 | 551,000 |
| Consolidated Net Income | 3,453,000 | 3,865,000 | 3,144,000 | 2,362,000 |
| Net Income Attributable to Minority Interests and Other | (27,000) | 734,000 | 76,000 | (168,000) |
| Net Income Attributable to Common Shareholders | 3,480,000 | 3,131,000 | 3,068,000 | 2,530,000 |
| Basic EPS | 6.36 | 5.41 | 5.02 | 3.94 |
| Diluted EPS | 6.34 | 5.38 | 4.98 | 3.91 |
| Basic Weighted Average Shares Outstanding | 547,100 | 578,700 | 611,700 | 642,300 |
| Diluted Weighted Average Shares Outstanding | 549,000 | 582,100 | 615,900 | 647,900 |
| Shares Outstanding | 534,000 | 564,000 | 594,000 | 630,000 |
| FY 2025 | FY 2024 | FY 2023 | FY 2022 | |
|---|---|---|---|---|
| Cash and Cash Equivalents | 798,000 | 1,236,000 | 1,204,000 | 902,000 |
| Total Cash and Cash Equivalents | 798,000 | 1,236,000 | 1,204,000 | 902,000 |
| Accounts Receivable | 3,981,000 | 3,725,000 | 3,582,000 | 3,585,000 |
| Total Trade Receivables | 3,981,000 | 3,725,000 | 3,582,000 | 3,585,000 |
| Other Current Assets | 19,875,000 | 18,516,000 | 30,025,000 | 23,057,000 |
| Total Current Assets | 24,654,000 | 23,477,000 | 34,811,000 | 27,544,000 |
| Net Property, Plant & Equipment | 3,084,000 | 2,374,000 | 2,161,000 | 1,958,000 |
| Net Intangible Assets | 10,161,000 | 9,940,000 | 11,210,000 | 12,415,000 |
| Goodwill | 37,703,000 | 36,584,000 | 37,205,000 | 36,811,000 |
| Long-Term Investments | 1,046,000 | 1,506,000 | 2,262,000 | 2,403,000 |
| Other Long-Term Assets | 3,485,000 | 3,295,000 | 3,241,000 | 2,738,000 |
| Total Assets | 80,133,000 | 77,176,000 | 90,890,000 | 83,869,000 |
| Accounts Payable | 5,307,000 | 4,799,000 | 4,355,000 | 3,883,000 |
| Short-Term Debt | 1,239,000 | 1,110,000 | 755,000 | 468,000 |
| Unearned Revenue | 865,000 | 819,000 | 761,000 | 625,000 |
| Other Current Liabilities | 16,479,000 | 15,429,000 | 27,681,000 | 21,482,000 |
| Total Current Liabilities | 23,890,000 | 22,157,000 | 33,552,000 | 26,458,000 |
| Long-Term Debt | 27,758,000 | 23,730,000 | 22,363,000 | 20,950,000 |
| Other Long-Term Liabilities | 2,676,000 | 3,603,000 | 4,306,000 | 4,773,000 |
| Total Long-Term Liabilities | 30,434,000 | 27,333,000 | 26,669,000 | 25,723,000 |
| Total Liabilities | 54,324,000 | 49,490,000 | 60,221,000 | 52,181,000 |
| Common Stock | 8,000 | 8,000 | 8,000 | 8,000 |
| Treasury Stock | (23,547,000) | (18,182,000) | (12,915,000) | (8,378,000) |
| Additional Paid-in Capital | 23,260,000 | 23,080,000 | 23,103,000 | 23,011,000 |
| Accumulated Other Comprehensive Income | (984,000) | (1,413,000) | (783,000) | (1,189,000) |
| Retained Earnings | 27,055,000 | 23,575,000 | 20,444,000 | 17,376,000 |
| Total Common Shareholders' Equity | 25,792,000 | 27,068,000 | 29,857,000 | 30,828,000 |
| Minority Interests and Other | 17,000 | 618,000 | 812,000 | 860,000 |
| Total Shareholders' Equity | 25,809,000 | 27,686,000 | 30,669,000 | 31,688,000 |
| Total Liabilities and Shareholders' Equity | 80,133,000 | 77,176,000 | 90,890,000 | 83,869,000 |
| FY 2025 | FY 2024 | FY 2023 | FY 2022 | |
|---|---|---|---|---|
| Net Income | 3,490,000 | 3,180,000 | 3,129,000 | 2,582,000 |
| Depreciation & Amortization | 3,207,000 | 3,138,000 | 3,162,000 | 3,212,000 |
| Share-Based Compensation Expense | 357,000 | 367,000 | 342,000 | 323,000 |
| Other Adjustments | (983,000) | 284,000 | (559,000) | (755,000) |
| Changes in Trade Receivables | (123,000) | (169,000) | 23,000 | (770,000) |
| Changes in Accounts Payable | 878,000 | 426,000 | (54,000) | 511,000 |
| Changes in Unearned Revenue | 16,000 | 70,000 | 155,000 | 58,000 |
| Changes in Other Operating Activities | (780,000) | (665,000) | (1,036,000) | (543,000) |
| Cash from Operating Activities | 6,062,000 | 6,631,000 | 5,162,000 | 4,618,000 |
| Capital Expenditure | (1,763,000) | (1,569,000) | (1,388,000) | (1,479,000) |
| Purchases of Investments | (81,000) | (155,000) | (39,000) | (52,000) |
| Proceeds from Sale of Investments | 756,000 | 61,000 | 5,000 | 23,000 |
| Payments for Business Acquisitions | (820,000) | — | (13,000) | (988,000) |
| Proceeds from Business Divestments | — | — | 234,000 | 246,000 |
| Other Investing Activities | (612,000) | (741,000) | 133,000 | 138,000 |
| Cash from Investing Activities | (2,520,000) | (2,404,000) | (1,068,000) | (2,112,000) |
| Issuance of Short-Term Debt | (370,000) | 278,000 | (1,456,000) | 1,837,000 |
| Net Issuance / (Repayments) of Short-Term Debt | (370,000) | 278,000 | (1,456,000) | 1,837,000 |
| Issuance of Long-Term Debt | 6,504,000 | 6,783,000 | 5,567,000 | 1,624,000 |
| Repayments of Long-Term Debt | (3,955,000) | (5,396,000) | (3,015,000) | (3,315,000) |
| Net Issuance / (Repayments) of Long-Term Debt | 2,549,000 | 1,387,000 | 2,552,000 | (1,691,000) |
| Issuance of Common Shares | 62,000 | 97,000 | 101,000 | 149,000 |
| Repurchases of Common Shares | (5,899,000) | (5,837,000) | (4,827,000) | (2,677,000) |
| Net Issuance / (Repurchases) of Common Shares | (5,837,000) | (5,740,000) | (4,726,000) | (2,528,000) |
| Other Financing Activities | (174,000) | (90,000) | (726,000) | (96,000) |
| Cash from Financing Activities | (3,832,000) | (4,165,000) | (4,356,000) | (2,478,000) |
| Effect of Exchange Rate Changes on Cash and Cash Equivalents | 99,000 | (32,000) | 33,000 | (41,000) |
| Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash | (191,000) | 30,000 | (229,000) | (13,000) |
Key Metrics & Ratios
| Metric | Value |
|---|---|
| Market Cap | $35.87B |
| P/E | 10.59x |
| P/S | 1.69x |
| EV/EBITDA | 7.10x |
| Return on Equity | 12.9% |
| Return on Invested Capital | 8.4% |
| Current Ratio | 1.03x |
| Free Cash Flow Margin | 20.3% |
Margins
Gross margin
59.4%
Operating margin
27.5%
Net margin
16.4%
Quarterly Trend
| Quarter | Revenue | YoY growth | Operating margin | Operating income |
|---|---|---|---|---|
| Q2 2026 | $5.29B | -4.1% | 19.2% | $1.01B |
| Q1 2026 | $5.03B | -2.0% | 18.3% | $918M |
| Q4 2025 | $5.28B | +0.6% | 24.4% | $1.29B |
| Q3 2025 | $5.26B | +0.9% | 27.3% | $1.44B |
| Q2 2025 | $5.52B | — | 30.7% | $1.70B |
| Q1 2025 | $5.13B | — | 27.2% | $1.40B |
| Q4 2024 | $5.25B | — | 31.8% | $1.67B |
| Q3 2024 | $5.21B | — | 30.7% | $1.60B |
More on Fiserv, Inc.
Figures compiled from public company filings.
See how Top Bucket AI works for your firm
Request DemoTop Bucket AI Research
Stay ahead of private markets
Research and market intelligence for private-markets professionals.
✓
You're subscribed.
Thanks for signing up.