GLOBAL PAYMENTS INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data GLOBAL PAYMENTS 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	3,371	3,975	3,366	4,912	7,424	8,524	8,976	7,380	7,736	7,706
Cost of revenue	1,604	1,928	1,095	2,074	3,651	3,774	3,779	2,068	2,033	2,113
Gross profit	1,767	2,047	2,271	2,838	3,773	4,750	5,197	5,311	5,702	5,592
Selling, general and administrative	1,411	1,488	1,534	2,047	2,879	3,391	3,525	3,859	4,001	4,121
Operating income	356	559	737	791	894	1,359	640	1,316	1,975	1,755
Interest expense		174	196	301	327	328	437	628	608	634
Other non-operating income	-99.4	-166	-175	-273	-300	-314	-416	-534	-444	-495
Pre-tax income	257	393	562	518	594	1,045	224	782	1,530	1,260
Income tax	36.3	-101	77.5	62.2	77.2	169	167	187	242	252
Income from continuing operations								620	1,285	1,073
Net income to minority interests	19	25.6	32.6	38.7	20.6	22.4	31.8	42.6	73.8	55.9
Net income	202	468	452	431	585	965	111	986	1,570	1,400
EBITDA		1,010	1,260	1,670	2,508	3,050	2,303	2,458	3,192	2,984
EPS, basic	1.38	3.03	2.85	2.17	1.95	3.30	0.41	3.78	6.18	5.79
EPS, diluted	1.37	3.01	2.84	2.16	1.95	3.29	0.40	3.77	6.16	5.78
Shares, basic (weighted)		155	159	198	299	293	275	261	254	242
Shares, diluted (weighted)		156	159	199	301	294	276	262	255	242
Dividend per share		0.01	0.01	0.23	0.78	0.89	1.00	1.00	1.00	1.00

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	1,163	1,336	1,211	1,678	1,946	1,979	1,998	2,089	2,356	8,336
Receivables	275	302	348	895	794	946	998	1,120	788	784
Other current assets	131	207	217	439	621	637	660	767	550	802
Total current assets	3,116	4,304	3,376	4,366	4,592	4,711	6,314	8,074	6,031	12,603
Property, plant and equipment	526	588	654	1,383	1,579	1,688	1,839	2,190	1,421	1,502
Lease right-of-use assets				437	481	494	360	346	248	250
Goodwill	4,808	5,704	6,341	23,760	23,871	24,813	23,321	26,744	17,028	17,077
Intangible assets	2,085	2,182	2,489	13,155	12,016	11,634	9,658	10,168	4,614	4,231
Other non-current assets	113	207	363	1,810	2,136	2,422	2,343	2,570	1,852	1,869
Total assets	10,664	12,998	13,231	44,480	44,202	45,280	44,809	50,570	46,890	53,338
Accounts payable	28.2	47.4	76.2	148	129	262	229	290	254	278
Accrued liabilities	94.2	102	118	212	194	185	210	276	228	225
Deferred revenue		101	147	193	218	228	226	184	202	177
Short-term debt	178	100	115	35.1	827	78.5	1,169	621	1,018	1,921
Total current liabilities	2,852	3,816	3,269	3,579	4,549	4,463	6,899	8,126	6,253	7,457
Long-term debt	4,261	4,559	5,015	9,090	8,466	11,415	12,289	15,692	15,079	19,542
Lease liabilities				397	448	551	440	411	330	306
Other non-current liabilities	95.8	221	176	610	751	739	648	723	550	522
Total liabilities	7,885	9,033	9,044	16,425	16,715	19,410	22,269	26,783	23,874	29,559
Total debt	4,439	4,660	5,130	9,126	9,294	11,409	13,497	16,368	16,326	21,551
Paid-in capital	1,816	2,380	2,235	25,833	24,964	22,880	19,978	19,801	18,119	17,079
Retained earnings	1,137	1,598	2,066	2,333	2,571	2,982	2,731	3,457	4,775	5,936
Other comprehensive income	-323	-183	-310	-311	-202	-234	-406	-259	-613	-126
Shareholders' equity	2,631	3,795	3,991	27,856	27,332	25,628	22,304	22,999	22,281	22,889
Minority interests	149	171	195	199	155	241	237	280	575	690
Total equity	2,779	3,965	4,186	28,055	27,487	25,869	22,540	23,280	22,856	23,578
Total liabilities and equity	10,664	12,998	13,231	44,480	44,202	45,280	44,809	50,570	46,890	53,338
Shares outstanding	152	159	158	300	298	285	263	260	249	237

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	221	494	485	469	605	988	143	1,029	1,644	1,456
Depreciation and amortization		451	523	878	1,614	1,691	1,662	1,142	1,217	1,229
Stock-based compensation		39.1	57.8	89.6	149	181	163	209	164	154
Deferred income tax		-253	-1.97	-109	-165	-189	-304	-379	-301	-284
Change in receivables		-14.1	-33.4	-116	56	-166	-112	-78.6	-10.4	-33.3
Change in payables		146	66.2	-95.1	-0.32	133	-17.2	6.27	-29.5	-140
Cash from operations		512	1,106	1,391	2,314	2,781	2,244	2,550	3,058	2,657
Capital expenditures		-182	-213	-308	-436	-493	-616	-658	-675	-618
Acquisitions		-563	-1,260	-645	-161	-1,811	-65.7	-4,226	-487	-352
Sales and maturities of investments		0	0		0	0	33
Cash from investing		-736	-1,476	-917	-438	-2,294	-676	-4,361	-174	-230
Debt issued		1,994	2,774	7,204	2,401	7,058	9,812	10,337	9,635	12,301
Debt repaid		-1,782	-2,304	-6,485	-2,342	-4,827	-7,895	-9,100	-8,335	-7,208
Share buybacks		-34.8	-208	-311	-631	-2,534	-2,921	-418	-1,552	-1,191
Dividends paid		-6.73	-6.33	-63.5	-233	-260	-274	-260	-253	-239
Cash from financing		352	287	-28.7	-1,546	-405	-1,377	1,840	-2,292	3,733
Exchange rate effect		44.4	-41.7	21.9	81.8	-48.4	-99.2	12.5	-113	222
Net change in cash		173	-125	467	411	33.3	92.6	41.3	479	6,380
Free cash flow		330	893	1,083	1,878	2,288	1,628	1,892	2,383	2,039
Interest paid		154	178	207	343	335	350	603	619	575
Income taxes paid		97	101	147	309	296	431	641	523	786

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 $86.49 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	63.8%	Gross profit / revenue.
Operating margin	12.8%	Operating income / revenue.
EBITDA margin	36.3%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	5.5%	Pre-tax income / revenue.
Net margin	-9.2%	Net income / revenue.
FCF margin	8.1%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	16.2%	Cash from operations / revenue.
Effective tax rate	12.8%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	-4.0%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-1.5%	Net income / average total assets.
Return on invested capital (ROIC)	2.8%	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	54.4%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	1.4%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	8.2%	Capital expenditures / revenue.
D&A / revenue	23.4%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-0.4%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-5.0%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	0.7%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-1.9%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	2.5%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	8.2%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-11.1%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	39.9%	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	14.4%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-6.5%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	9.0%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	3.5%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-10.8%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	132.4%	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	19.1%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-6.2%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	143.6%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	24.3%	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	-13.1%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	5.8%	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	2.8%	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	-14.4%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	7.8%	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	1.7%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	0.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	0.0%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	5.1%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	2.7%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	0.9%	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	-3.5%	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	13.8%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	6.0%	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	3.8%	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	-5.0%	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	-4.2%	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	-4.2%	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	0.82x	Current assets / current liabilities.
Quick ratio	0.49x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.38x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.97x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	35.4%	Total debt / total assets.
Liabilities / assets	62.3%	Total liabilities / total assets.
Net debt	$17.11B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	4.62x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	1.56x	Operating income / interest expense.
Working capital	-$2.48B	Current assets - current liabilities.
Goodwill and intangibles / assets	73.0%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$23.28B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.16x	Revenue / average total assets.
Fixed asset turnover	4.78x	Revenue / average property, plant and equipment.
Receivables turnover	6.47x	Revenue / average receivables.
Days sales outstanding	56 days	365 x average receivables / revenue.
Days payables	366 days	365 x average accounts payable / cost of revenue.
Capex / operating cash flow	50.4%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$3.46	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	$37.79	Revenue / diluted weighted shares.
FCF per share	$3.05	Free cash flow / diluted weighted shares.
Operating cash flow per share	$6.14	Cash from operations / diluted weighted shares.
Book value per share	$86.94	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$87.60	Tangible book value / shares outstanding.
Cash per share	$20.35	(Cash + short-term investments) / shares outstanding.
Dividends / FCF	30.6%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	194.5%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$22.89B	Share price x shares outstanding.
Enterprise value	$39.99B	Market cap + total debt - cash - short-term investments.
P/S	2.24x	Market cap / revenue.
P/B	0.99x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	27.8x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	13.8x	Market cap / cash from operations, when positive.
EV/Sales	3.92x	Enterprise value / revenue.
EV/EBIT	30.5x	Enterprise value / operating income, when both are positive.
EV/EBITDA	10.8x	Enterprise value / EBITDA, when both are positive.
EV/FCF	48.6x	Enterprise value / free cash flow, when both are positive.
FCF yield	3.6%	Free cash flow / market cap.
Earnings yield	-4.1%	Net income / market cap (the inverse of P/E).
Dividend yield	1.1%	Dividends paid over the period / market cap.
Shareholder yield	8.1%	(Dividends paid + share buybacks) / market cap.

What was GLOBAL PAYMENTS INC's revenue in fiscal 2025?

GLOBAL PAYMENTS INC reported revenue of $7.71B for fiscal 2025, 0.4% lower than the year before.

Was GLOBAL PAYMENTS INC profitable in fiscal 2025?

Yes. Net income was $1.40B, a net margin of 18.2%.

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

Cash from operations of $2.66B minus capital expenditures of $617.8M left free cash flow of $2.04B.

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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