AI Takeaway
Fiserv delivered solid FY2025 results with revenue growing 3.6% to $21.2B and net income surging 11.1% to $3.5B, though operating margin compressed slightly and cash balances declined materially.
Revenue
$21.19B
++3.60% YoY
EPS (Basic)
$6.36
++17.56% YoY
Operating Income
$5.82B
-1.04% YoY
Filed · Analysis updated · Source: SEC EDGAR 10-K filing
Total revenue increased 3.6% year-over-year from $20.5B to $21.2B in FY2025, reflecting continued demand across Fiserv's payments and financial technology platforms.
Source: Source: 10-K Income Statement
Net income grew 11.1% to $3.48B while diluted EPS jumped 17.8% to $6.34, outpacing revenue growth and suggesting meaningful share count reduction and/or improved below-the-line items.
Source: Source: 10-K Income Statement
Operating margin declined approximately 1.3 percentage points to 27.5% as SG&A expenses rose 4.9% to $6.88B, growing faster than revenue and pressuring profitability at the operating level.
Source: Source: 10-K Income Statement & Key Ratios
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Upgrade to unlockTotal liabilities increased nearly 10% to $54.3B in FY2025 while equity declined, resulting in a debt-to-equity ratio of 2.11x. This elevated leverage increases Fiserv's sensitivity to interest rate changes and could constrain financial flexibility in a downturn.
Source: Source: 10-K Balance Sheet
Unlock 4 more detailed risk analysis
Upgrade to unlockReported EPS of $1.99 versus the $1.94 analyst consensus — a +2.8% beat for FY2025.
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue | $21.19B | $20.46B | +3.60% |
Operating Income | $5.82B | $5.88B | -1.04% |
Net Income | $3.48B | $3.13B | +11.15% |
EPS (Basic) | $6.36 | $5.41 | +17.56% |
EPS (Diluted) | $6.34 | $5.38 | +17.84% |
SG&A Expense | $6.88B | $6.56B | +4.86% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Total Assets | $80.13B | $77.18B | +3.83% |
Current Assets | $24.65B | $23.48B | +5.01% |
Total Liabilities | $54.32B | $49.49B | +9.77% |
Current Liabilities | $23.89B | $22.16B | +7.82% |
Stockholders' Equity | $25.79B | $27.07B | -4.71% |
Cash & Equivalents | $798M | $1.24B | -35.44% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Operating Cash Flow | $6.06B | $6.63B | -8.58% |
Investing Cash Flow | $-2.52B | $-2.4B | -4.83% |
Financing Cash Flow | $-3.83B | $-4.17B | +8.00% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Operating Margin | 27.5% | 28.7% | -1.29% |
Net Margin | 16.4% | — | — |
ROE | 13.5% | — | — |
ROA | 4.3% | — | — |
Current Ratio | $1.032 | — | — |
Debt to Equity | $2.106 | — | — |
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Fiserv reported FY2025 revenue of $21.2B, up 3.6% year-over-year, and net income of $3.48B, up 11.1%. Diluted EPS grew 17.8% to $6.34, reflecting both earnings growth and share count reduction.
The key takeaways are strong EPS growth of 17.8% to $6.34 and net income growth of 11.1%, offset by a slight decline in operating margin to 27.5% and an 8.6% drop in operating cash flow to $6.06B. Leverage also increased, with a debt-to-equity ratio rising to 2.11x.
Based on the financial data, key risks include rising financial leverage (debt-to-equity of 2.11x), declining operating cash flow (down 8.6% to $6.06B), and a very thin current ratio of 1.03x that limits short-term liquidity. SG&A cost inflation also pressured operating margins.
Fiserv's revenue grew 3.6% in FY2025, rising from $20.5B to $21.2B, driven by continued demand across its payments and financial technology businesses. This growth rate was moderate but consistent with the company's scale.
Fiserv's financial health is mixed: net income and EPS are growing strongly, but operating cash flow declined 8.6% to $6.06B, cash reserves fell 35.4% to $798M, and leverage increased to a debt-to-equity ratio of 2.11x. The current ratio of 1.03x leaves limited short-term liquidity buffer.