FISERV INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data FISERV INC files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	5,505	5,696	5,823	10,187	14,852	16,226	17,737	19,093	20,456	21,193
Cost of revenue	747	733	745
Gross profit	4,758	4,963	5,078
Selling, general and administrative	1,101	1,150	1,228	3,284	5,652	5,810	6,059	6,576	6,564	6,883
Operating income	1,445	1,532	1,753	1,609	1,852	2,288	3,740	5,014	5,879	5,818
Interest expense	163	176	193	507	716	696	746	1,004	1,238	1,531
Interest income		1	4	34	7	3	13	28	43	38
Other non-operating income		1	9	-6	28	71	-94	-140	-178	-61
Pre-tax income	1,275	1,358	1,555	1,083	1,171	1,666	2,913	3,898	4,506	4,264
Income tax	492	158	378	198	196	363	551	754	641	811
Income from continuing operations	930	1,232	1,187	914	975
Net income to minority interests		0	0	21	17	69	52	61	49	10
Net income	930	1,246	1,187	893	958	1,334	2,530	3,068	3,131	3,480
EBITDA	1,866	1,976	2,309	3,387	5,109	5,536	6,952	8,176	6,468	6,487
EPS, basic	2.11	2.95	2.93	1.74	1.42	2.01	3.94	5.02	5.41	6.36
EPS, diluted	2.08	2.89	2.87	1.71	1.40	1.99	3.91	4.98	5.38	6.34
Shares, basic (weighted)	441	422	406	512	672	663	642	612	579	547
Shares, diluted (weighted)	448	431	414	523	683	672	648	616	582	549

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents			415	893	906	835	902	1,204	1,236	798
Receivables	902	997	1,049	2,782	2,482	2,860	3,585	3,582	3,725	3,981
Other current assets	526	603	274	1,503	1,310	1,523	1,144	1,921	2,683	2,793
Total current assets	1,728	1,975	2,224	17,046	16,219	18,870	27,544	34,811	23,477	24,654
Property, plant and equipment	405	390	398	1,606	1,628	1,742	1,958	2,161	2,374	3,084
Lease right-of-use assets				684	504	575	586	628	595	589
Goodwill	5,373	5,590	5,702	36,038	36,322	36,433	36,811	37,205	36,584	37,703
Intangible assets	1,833	1,882	2,143	17,642	15,358	14,009	12,415	11,210	9,940	10,161
Other non-current assets	404	368	311	1,954	1,644	1,823	1,833	2,273	2,299	2,446
Total assets	9,743	10,289	11,262	77,539	74,619	76,249	83,869	90,890	77,176	80,133
Accounts payable	110	80	127	392	437	593	652	449	511	797
Deferred revenue	483	576	380	492	546	585	625	761	819	865
Short-term debt	95	3	4	287	384	508	468	755	1,110	1,239
Total current liabilities	1,820	1,938	2,010	15,727	15,637	18,295	26,458	33,552	22,157	23,890
Long-term debt	4,467	4,897	5,955	21,612	20,300	20,729	20,950	22,363	23,730	27,758
Lease liabilities				603	471	615	628	665	654	637
Other non-current liabilities	153	117	170	941	777	878	936	978	863	939
Total liabilities	7,202	7,558	8,969	42,682	41,290	44,299	52,181	60,221	49,490	54,324
Total debt	4,562	4,900	5,959	21,899	20,684	21,362	21,538	23,263	24,990	28,997
Paid-in capital	1,020	1,031	1,057	23,741	23,643	22,983	23,011	23,103	23,080	23,260
Retained earnings	8,994	10,240	11,635	12,528	13,441	14,846	17,376	20,444	23,575	27,055
Treasury stock	-7,401	-8,494	-10,340	-3,118	-4,375	-6,140	-8,378	-12,915	-18,182	-23,547
Other comprehensive income	-76	-54	-67	-180	-387	-745	-1,189	-783	-1,413	-984
Shareholders' equity	2,541	2,731	2,293	32,979	32,330	30,952	30,828	29,857	27,068	25,792
Minority interests			0	1,616	740	720	699	651	618	17
Total equity	2,541	2,731	2,293	34,595	33,070	31,672	31,527	30,508	27,686	25,809
Total liabilities and equity	9,743	10,289	11,262	77,539	74,619	76,249	83,869	90,890	77,176	80,133

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	930	1,246	1,187	914	975	1,403	2,582	3,129	3,180	3,490
Depreciation and amortization	421	444	556	1,778	3,257	3,248	3,212	3,162	589	669
Stock-based compensation	68	63	73	229	369	239	323	342	367	357
Deferred income tax	21	-247	133	47	71	-262	-558	-511	-662	-942
Change in receivables	-88	-75	-108	-7	320	-358	-770	23	-169	-123
Change in payables	172	54	116	238	-146	303	511	-54	426	878
Cash from operations	1,431	1,483	1,552	2,795	4,147	4,034	4,618	5,162	6,631	6,062
Capital expenditures	-290	-287	-360	-721	-900	-1,160	-1,479	-1,388	-1,569	-1,763
Acquisitions	-265	-384	-712	-15,083	-139	-848	-988	-13	0	-820
Purchases of investments		-10	-3	-45	-1	-256	-52	-39	-155	-81
Cash from investing	-554	-657	-663	-15,680	-341	-1,630	-2,112	-1,068	-2,404	-2,520
Debt issued	2,126	2,310	5,039	20,030	8,897	6,435	1,624	5,567	6,783	6,504
Stock issued	39	36	29	104	83	91	105	62	56	23
Share buybacks	-1,245	-1,223	-1,946
Cash from financing	-852	-820	-842	14,373	-3,431	-1,741	-2,478	-4,356	-4,165	-3,832
Exchange rate effect		0	0	1	16	-27	-41	33	-32	99
Net change in cash			47	1,489	391	636	-13	-229	30	-191
Free cash flow	1,141	1,196	1,192	2,074	3,247	2,874	3,139	3,774	5,062	4,299
Interest paid	147	160	165	291	673	648	703	879	1,153	1,408
Income taxes paid	408	409	259	197	156	666	709	1,219	1,169	1,369

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $46.48 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	22.3%	Operating income / revenue.
Pre-tax margin	15.8%	Pre-tax income / revenue.
Net margin	13.4%	Net income / revenue.
FCF margin	18.8%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	27.9%	Cash from operations / revenue.
Effective tax rate	16.8%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	10.4%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	3.5%	Net income / average total assets.
Return on invested capital (ROIC)	7.2%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	34.8%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	1.8%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	9.1%	Capital expenditures / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	3.6%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	6.1%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	7.4%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-1.0%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	15.9%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	25.7%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	0.3%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-2.3%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	4.9%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	11.1%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	11.2%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	29.4%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	17.8%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	17.5%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	35.3%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-8.6%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	9.5%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	7.9%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-15.1%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	11.1%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	5.8%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-4.7%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-5.8%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	-4.4%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	3.8%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-1.5%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	1.4%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-5.7%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-5.4%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-4.3%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.04x	Current assets / current liabilities.
Quick ratio	0.19x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.03x	(Cash + short-term investments) / current liabilities.
Debt / equity	1.04x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	34.5%	Total debt / total assets.
Liabilities / assets	66.7%	Total liabilities / total assets.
Net debt	$27.26B	Total debt - cash - short-term investments. Negative means more cash than debt.
Interest coverage	2.95x	Operating income / interest expense.
Working capital	$1.06B	Current assets - current liabilities.
Goodwill and intangibles / assets	46.4%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$10.62B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.26x	Revenue / average total assets.
Fixed asset turnover	6.27x	Revenue / average property, plant and equipment.
Receivables turnover	5.34x	Revenue / average receivables.
Days sales outstanding	68 days	365 x average receivables / revenue.
FCF conversion	140.2%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	32.7%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$5.25	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$39.10	Revenue / diluted weighted shares.
FCF per share	$7.36	Free cash flow / diluted weighted shares.
Operating cash flow per share	$10.93	Cash from operations / diluted weighted shares.
Book value per share	$50.41	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$19.90	Tangible book value / shares outstanding.
Cash per share	$1.17	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$24.72B	Share price x shares outstanding.
Enterprise value	$51.98B	Market cap + total debt - cash - short-term investments.
P/E	8.82x	Market cap / net income. Only when net income is positive.
P/S	1.18x	Market cap / revenue.
P/B	0.92x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	6.30x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	4.24x	Market cap / cash from operations, when positive.
EV/Sales	2.49x	Enterprise value / revenue.
EV/EBIT	11.2x	Enterprise value / operating income, when both are positive.
EV/FCF	13.2x	Enterprise value / free cash flow, when both are positive.
FCF yield	15.9%	Free cash flow / market cap.
Earnings yield	11.3%	Net income / market cap (the inverse of P/E).
PEG	0.50x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was FISERV INC's revenue in fiscal 2025?

FISERV INC reported revenue of $21.19B for fiscal 2025, 3.6% higher than the year before.

Was FISERV INC profitable in fiscal 2025?

Yes. Net income was $3.48B, a net margin of 16.4%.

How much free cash flow did FISERV INC generate in fiscal 2025?

Cash from operations of $6.06B minus capital expenditures of $1.76B left free cash flow of $4.30B.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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