Fiserv, Inc.

FISV · NASDAQ · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987	FY1986	FY1985
Valuation
Market cap	$36,128	$118,877	$81,258	$64,182	$68,525	$75,174	$76,343	$29,284	$27,327	$23,069	$20,606	$17,056	$15,161	$10,544	$8,232	$8,807	$7,505	$5,930	$9,243	$9,177	$8,171	$7,838	$7,645	$6,502	$7,939	$5,470	$4,721	$4,217	$2,556	$1,884	$1,319	$855	$612	$575	$544	$269	$179	$152	$130	$88	$73
Enterprise value	$64,470	$143,215	$103,941	$85,521	$89,647	$95,692	$98,965	$34,832	$31,902	$27,331	$24,624	$20,552	$18,609	$13,416	$11,290	$11,600	$10,783	$9,805	$14,353	$9,809	$8,582	$7,927	$8,282	$6,858	$6,373	$3,929	$3,714	$4,573	$2,813	$2,089	$1,641	$967	$687	$570	$572	$281	$201	$155	$108	$90	$84
P/E (TTM) at period end	10.38×	37.97×	26.49×	25.37×	51.37×	78.47×	85.49×	24.67×	21.93×	24.81×	28.94×	22.62×	23.40×	17.26×	17.44×	17.76×	15.77×	10.42×	21.05×	20.40×	15.82×	20.76×	24.27×	24.43×	38.13×	30.90×	34.25×	36.89×	28.15×	30.54×	–	22.69×	19.94×	24.99×	29.75×	19.51×	15.72×	16.56×	18.10×	18.26×	244.81×
P/S (TTM) at period end	1.70×	5.81×	4.26×	3.62×	4.22×	5.06×	7.49×	5.03×	4.80×	4.19×	3.92×	3.37×	3.15×	2.38×	1.92×	2.13×	1.84×	1.29×	2.51×	2.57×	2.52×	2.10×	2.61×	2.72×	3.66×	3.31×	3.35×	3.42×	2.62×	2.14×	1.88×	1.52×	1.35×	1.73×	1.94×	1.47×	1.09×	1.22×	1.52×	1.25×	2.23×
P/B at period end	1.40×	4.39×	2.72×	2.08×	2.21×	2.33×	2.31×	12.77×	10.01×	9.08×	7.75×	5.18×	4.23×	3.09×	2.53×	2.73×	2.48×	2.29×	3.75×	3.78×	3.31×	3.06×	3.48×	3.56×	4.95×	4.37×	4.33×	4.76×	3.32×	3.11×	3.04×	2.44×	1.99×	2.99×	3.26×	2.70×	2.13×	2.14×	2.30×	2.59×	4.40×
EV / EBITDA (TTM)	9.94×	22.14×	12.71×	12.30×	16.19×	18.73×	29.22×	15.09×	16.14×	14.65×	14.25×	12.73×	12.71×	9.60×	8.46×	8.62×	8.43×	9.70×	15.57×	11.35×	10.20×	9.38×	12.04×	12.06×	12.58×	8.48×	9.97×	16.21×	12.29×	9.38×	–	9.62×	8.90×	10.34×	12.48×	8.10×	6.48×	–	–	–	–
EV / Sales (TTM)	3.04×	7.00×	5.44×	4.82×	5.52×	6.44×	9.71×	5.98×	5.60×	4.96×	4.69×	4.06×	3.87×	3.02×	2.63×	2.81×	2.64×	2.14×	3.90×	2.75×	2.65×	2.13×	2.83×	2.87×	2.94×	2.38×	2.64×	3.71×	2.89×	2.38×	2.33×	1.72×	1.51×	1.72×	2.03×	1.54×	1.23×	1.24×	1.27×	1.28×	2.57×
Returns
Return on equity	13.5%	11.6%	10.3%	8.2%	4.3%	3.0%	2.7%	51.8%	45.6%	36.6%	26.8%	22.9%	18.1%	17.9%	14.5%	15.4%	15.7%	21.9%	17.8%	18.5%	20.9%	14.7%	14.3%	14.6%	13.0%	14.1%	12.6%	12.9%	11.8%	10.2%	(13.8%)	10.7%	10.0%	11.9%	11.0%	13.8%	13.5%	12.9%	12.7%	14.2%	1.8%
Return on invested capital	8.7%	9.8%	7.7%	5.8%	3.4%	2.9%	2.4%	16.9%	18.5%	13.0%	12.6%	11.3%	9.6%	11.0%	10.2%	10.4%	9.4%	7.7%	6.0%	13.5%	14.3%	15.3%	11.2%	12.1%	11.2%	12.3%	8.7%	10.0%	9.5%	11.2%	(6.9%)	7.8%	7.5%	10.7%	8.3%	11.6%	9.5%	9.0%	14.7%	9.4%	13.4%
Dividend yield	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Financial health
Current ratio	1.03×	1.06×	1.04×	1.04×	1.03×	1.04×	1.08×	1.11×	1.02×	0.95×	1.00×	0.97×	1.18×	1.31×	0.98×	1.59×	1.10×	1.08×	1.12×	1.10×	0.99×	1.13×	1.02×	1.02×	2.02×	1.95×	1.88×	1.16×	0.15×	0.26×	1.22×	0.20×	1.16×	1.16×	1.11×	1.10×	1.05×	1.41×	2.75×	1.38×	0.97×
Debt / equity	1.12×	0.92×	0.77×	0.69×	0.69×	0.64×	0.66×	2.60×	1.79×	1.80×	1.61×	1.15×	1.07×	0.95×	1.04×	1.04×	1.20×	1.58×	2.19×	0.31×	0.24×	0.24×	0.36×	0.32×	0.28×	0.28×	0.65×	0.48×	0.45×	0.51×	0.88×	0.40×	0.36×	0.27×	0.31×	0.34×	0.30×	0.34×	0.10×	0.23×	0.70×
Effective tax rate	19.0%	14.2%	19.3%	18.9%	21.8%	16.7%	18.3%	24.3%	11.6%	38.6%	35.7%	36.7%	36.5%	34.1%	35.1%	38.0%	37.2%	45.0%	38.2%	37.8%	37.6%	38.4%	39.0%	39.0%	40.0%	41.0%	41.0%	41.0%	41.0%	40.7%	39.2%	40.0%	38.6%	38.0%	36.0%	35.8%	38.4%	39.1%	42.4%	40.7%	40.0%
Share count
Diluted shares outstanding	549	582	616	648	672	683	523	414	431	448	476	505	532	550	577	607	622	652	675	710	764	789	783	777	764	759	760	763	723	703	594	538	428	460	439	394	380	368	360	288	265

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987	FY1986	FY1985
Revenue and gross profit
Revenue	$20,866	$21,193	$20,456	$19,093	$17,737	$16,226	$14,852	$10,187	$5,823	$5,696	$5,505	$5,254	$5,066	$4,814	$4,436	$4,289	$4,133	$4,077	$4,587	$3,677	$3,566	$3,241	$3,730	$2,925	$2,389	$2,168	$1,654	$1,408	$1,234	$974	$879	$703	$564	$455	$332	$281	$183	$164	$125	$86	$70	$33
Cost of revenue	($9,135)	($8,612)	($8,013)	($7,670)	($7,992)	($8,128)	($7,812)	($5,309)	($745)	($733)	($747)	($731)	($717)	($695)	($628)	($601)	($533)	($536)	($917)	($979)	($2,417)	($2,170)	($1,185)	($682)	($476)	($936)	($398)	($358)	($378)	($291)	($262)	($394)	–	($160)	($111)	($100)	($58)	($52)	($60)	($26)	($31)	($13)
Gross profit	$11,731	$12,581	$12,443	$11,423	$9,745	$8,098	$7,040	$4,878	$5,078	$4,963	$4,758	$4,523	$4,349	$4,119	$3,808	$3,688	$3,600	$3,541	$3,670	$2,698	$1,149	$1,071	$2,545	$2,244	$1,913	$1,231	$1,256	$1,050	$855	$684	$618	$309	–	$295	$221	$181	$125	$112	$65	$60	$40	$20
Operating expenses
Research and development	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Selling, general and administrative	($7,263)	($6,883)	($6,564)	($6,576)	($6,059)	($5,810)	($5,652)	($3,284)	($1,228)	($1,150)	($1,101)	($1,034)	($975)	($977)	($824)	($795)	($740)	($751)	($813)	($513)	($484)	($409)	($1,700)	($1,556)	($1,344)	($725)	($793)	($677)	($573)	($455)	($395)	($331)	($463)	($218)	($166)	($135)	($90)	($82)	($40)	($40)	($23)	($11)
Total operating expenses	($7,071)	($6,763)	($6,564)	($6,409)	($6,005)	($5,810)	($5,188)	($3,269)	($3,325)	($3,431)	($3,313)	($3,212)	($3,139)	($3,058)	($2,760)	($2,698)	($2,593)	($2,595)	($2,762)	($1,962)	($484)	($409)	($1,885)	($1,722)	($1,479)	($872)	($942)	($797)	($646)	($518)	($464)	($395)	–	($248)	($189)	($156)	($105)	($96)	($54)	($51)	($34)	($13)
Total costs and expenses	($16,206)	($15,375)	($14,577)	($14,079)	($13,997)	($13,938)	($13,000)	($8,578)	($4,070)	($4,164)	($4,060)	($3,943)	($3,856)	($3,753)	($3,388)	($3,299)	($3,126)	($3,131)	($3,679)	($2,941)	($2,901)	($2,579)	($3,070)	($2,404)	($1,955)	($1,809)	($1,339)	($1,154)	($1,024)	($809)	($726)	($790)	($504)	($408)	($300)	($256)	($163)	($148)	($114)	($77)	($65)	($27)
Operating income	$4,660	$5,818	$5,879	$5,014	$3,740	$2,288	$1,852	$1,609	$1,753	$1,532	$1,445	$1,311	$1,210	$1,061	$1,048	$990	$1,007	$946	$908	$736	$665	$662	$660	$522	$434	$359	$314	$253	$210	$166	$154	($86)	$60	$47	$32	$25	$20	$16	$11	$9	$6	$6
Earnings
EBITDA	$7,927	$6,487	$6,468	$8,176	$6,952	$5,536	$5,109	$3,387	$2,309	$1,976	$1,866	$1,728	$1,614	$1,464	$1,398	$1,335	$1,346	$1,279	$1,011	$922	$864	$841	$845	$688	$569	$507	$463	$373	$282	$229	$223	($22)	$100	$77	$55	$46	$35	$31	–	–	–	–
Interest income	$39	$38	$43	$28	$13	$3	$7	$34	$4	$1	($7)	$1	$1	$1	$7	$6	$10	$8	$13	$7	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Interest expense	($1,552)	($1,531)	($1,238)	($1,004)	($746)	($696)	($716)	($507)	($193)	($176)	($163)	($170)	($164)	($163)	($174)	($188)	($198)	($220)	($260)	($76)	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Pre-tax income	$3,294	$4,264	$4,506	$3,898	$2,913	$1,666	$1,171	$1,083	$1,555	$1,358	$1,275	$1,057	$1,047	$898	$881	$723	$793	$734	$640	$667	$624	$728	$641	$506	$425	$347	$300	$234	$194	$154	$134	($99)	$63	$50	$37	$29	$22	$18	$15	$12	$8	$0
Income tax expense	($555)	($811)	($641)	($754)	($551)	($363)	($196)	($198)	($378)	($158)	($492)	($377)	($384)	($328)	($300)	($254)	($301)	($273)	($288)	($255)	($236)	($274)	($246)	($197)	($166)	($139)	($123)	($96)	($79)	($63)	($55)	$39	($25)	($19)	($14)	($10)	($8)	($7)	($6)	($5)	($3)	($0)
Net income	$2,801	$3,480	$3,131	$3,068	$2,530	$1,334	$958	$893	$1,187	$1,246	$930	$712	$754	$648	$611	$472	$496	$476	$569	$439	$450	$516	$378	$315	$266	$208	$177	$138	$114	$91	$62	($60)	$38	$31	$23	$18	$14	$11	$9	$7	$5	$0
Per share
Diluted EPS (GAAP)	$5.21	$6.34	$5.38	$4.98	$3.91	$1.99	$1.40	$1.71	$2.87	$2.89	$2.08	$1.50	$1.49	$1.22	$1.11	$0.82	$0.8175	$0.765	$0.8725	$0.65	$0.64	$0.68	$0.48	$0.40	$0.34	$0.27	$0.23	$0.18	$0.15	$0.13	$0.11	($0.10)	$0.0704	$0.0717	$0.05	$0.0417	$0.035	$0.03	$0.025	$0.02	$0.0167	$0.0017
Basic EPS (GAAP)	$5.22	$6.36	$5.41	$5.02	$3.94	$2.01	$1.42	$1.74	$2.93	$2.95	$2.11	$1.52	$1.51	$1.23	$1.12	$0.83	$0.825	$0.77	$0.8775	$0.66	$0.64	$0.69	$0.49	$0.41	$0.35	$0.28	$0.24	$0.19	$0.16	$0.13	$0.12	($0.10)	$0.0704	$0.0717	$0.05	$0.0417	$0.035	$0.03	$0.025	$0.02	$0.0167	$0.0017
Basic shares outstanding	536	547	579	612	642	663	672	512	406	422	441	468	497	525	543	570	602	618	648	666	700	755	780	773	766	750	739	739	737	702	693	594	538	428	460	439	394	380	368	360	288	265
Margins
Gross margin	56.2%	59.4%	60.8%	59.8%	54.9%	49.9%	47.4%	47.9%	87.2%	87.1%	86.4%	86.1%	85.8%	85.6%	85.8%	86.0%	87.1%	86.9%	80.0%	73.4%	32.2%	33.0%	68.2%	76.7%	80.1%	56.8%	76.0%	74.6%	69.3%	70.2%	70.2%	43.9%	–	64.9%	66.7%	64.4%	68.3%	68.6%	51.8%	69.9%	56.2%	59.3%
Operating margin	22.3%	27.5%	28.7%	26.3%	21.1%	14.1%	12.5%	15.8%	30.1%	26.9%	26.2%	25.0%	23.9%	22.0%	23.6%	23.1%	24.4%	23.2%	19.8%	20.0%	18.6%	20.4%	17.7%	17.8%	18.2%	16.6%	19.0%	18.0%	17.0%	17.0%	17.5%	(12.2%)	10.6%	10.2%	9.8%	9.0%	11.0%	10.0%	8.6%	10.3%	8.2%	18.8%
Net margin	13.4%	16.4%	15.3%	16.1%	14.3%	8.2%	6.5%	8.8%	20.4%	21.9%	16.9%	13.6%	14.9%	13.5%	13.8%	11.0%	12.0%	11.7%	12.4%	11.9%	12.6%	15.9%	10.1%	10.8%	11.1%	9.6%	10.7%	9.8%	9.3%	9.3%	7.0%	(8.5%)	6.7%	6.8%	6.9%	6.5%	7.5%	7.0%	7.4%	8.4%	6.8%	0.9%

Analyst consensus

Buy61 analysts

Bearish · 0 · Hold · 28 · Bullish · 33

Earnings history

	EPS	Estimate
Q3 2024	$2.30	$2.26	Beat
Q4 2024	$2.51	$2.48	Beat
Q1 2025	$2.14	$2.08	Beat
Q2 2025	$2.47	$2.43	Beat
Q3 2025	$2.04	$2.64	Miss
Q4 2025	$1.99	$1.90	Beat
Q1 2026	$1.79	$1.57	Beat
Q2 2026	$1.84	$1.91	Miss

Peers

Company overview

IPO dateSep 25, 1986

CEOTakis Georgakopoulos

Employees38,000

SectorTechnology

IndustryInformation Technology Services

CountryUS

ExchangeNASDAQ Global Select

Websitewww.fiserv.com

Fiserv, Inc. is a global provider of technology solutions for payments and financial services. Its operations are structured into three primary segments: Acceptance, Fintech, and Payments. The Acceptance segment enables businesses to process transactions at the point of sale and through digital channels, offering mobile payment capabilities and robust security and fraud prevention tools. Key offerings include Carat, its omnichannel commerce platform; Clover, a cloud-native platform for point-of-sale and business management; and Clover Connect, designed for independent software vendors. This segment reaches clients via diverse distribution channels, including direct sales, agent networks, ISVs, and financial institution partnerships. The Fintech segment supports financial institutions in managing core functions like customer deposit and loan accounts, general ledgers, and central information repositories. Further services extend to digital banking, financial and risk management, specialized consulting, and item processing solutions. The Payments segment facilitates a wide array of card-based transactions, including processing for debit, credit, and prepaid cards. It also delivers security and fraud safeguards, card manufacturing, print services, and various network functionalities. Beyond cards, this segment offers digital payment solutions like bill payment, account-to-account transfers, person-to-person payments, and electronic billing, complemented by security features. Fiserv caters to a broad clientele, including businesses, banks, credit unions, other financial institutions, merchants, and corporate enterprises. Established in 1984, Fiserv, Inc. maintains its corporate headquarters in Brookfield, Wisconsin.

Athenic provides research and information tools for educational purposes only and is not a registered investment adviser or broker-dealer. Nothing on this page is investment advice or a recommendation to buy or sell any security. Market data may be delayed. Past performance is not indicative of future results. Investing involves risk, including the possible loss of principal.