Revenue Growth Driven by Scale
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: 10-K Income Statement
Computed from published fixed rules, not a model's judgement — though one input, the count of high-severity risks, comes from the AI analysis below.
Not investment advice and not a price target: it scores the quarter's fundamentals, not the stock. Full methodology →
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 (Diluted)
$6.34
+17.84% YoY
Operating Income
$5.82B
-1.04% YoY
Source: SEC XBRL
Fiserv (FISV) reported FY2025 revenue of $21.19B, up 3.6% year over year. Operating margin was 27.5%, down 1.2 points from 28.7% a year earlier. Operating cash flow was $6.06B, down 8.6% year over year.
Last 4 quarters: 2 beats
| Quarter | Actual EPS (USD) | Consensus (USD) | Result |
|---|---|---|---|
| Jun 2026 | 1.84 | 1.95 | Miss -5.5% |
| Mar 2026 | 1.79 | 1.60 | Beat +11.7% |
| Dec 2025This filing | 1.99 | 1.94 | Beat +2.8% |
| Sep 2025 | 2.04 | 2.70 | Miss -24.3% |
Reported EPS of $1.99 versus the $1.94 analyst consensus — a +2.8% beat for Dec 2025.
Compiled by AI from this SEC 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: 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: 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: 10-K Income Statement & Key Ratios
Operating cash flow fell 8.6% to $6.06B from $6.63B in the prior year, a notable decline that warrants monitoring given the company's reliance on strong cash generation to fund investments and capital returns.
Source: 10-K Cash Flow Statement
Total liabilities rose 9.8% to $54.3B while stockholders' equity declined 4.7% to $25.8B, pushing the debt-to-equity ratio to approximately 2.11x and reflecting increased financial leverage.
Source: 10-K Balance Sheet
Compiled by AI from this SEC filing · 2 high, 3 medium, 0 low
Total 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: 10-K Balance Sheet
Operating cash flow declined 8.6% to $6.06B despite revenue growth, suggesting potential working capital pressures or higher cash costs. Sustained deterioration could limit the company's ability to fund capital expenditures, acquisitions, and shareholder returns.
Source: 10-K Cash Flow Statement
SG&A expenses grew 4.9% to $6.88B, outpacing revenue growth of 3.6% and contributing to a 1.3 percentage point decline in operating margin to 27.5%. If cost growth continues to exceed revenue growth, profitability could face further compression.
Source: 10-K Income Statement
Cash and equivalents fell 35.4% to $798M from $1.24B in the prior year, a significant reduction in liquid assets. Combined with high leverage, this limits the company's near-term liquidity buffer for unexpected obligations.
Source: 10-K Balance Sheet
The current ratio stands at approximately 1.03x, meaning current assets barely cover current liabilities of $23.9B. This leaves very little margin for error in managing short-term obligations and could become a concern if operating cash flows weaken further.
Source: 10-K Balance Sheet & Key Ratios
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue $B | 21.19 $B | 20.46 $B | +3.60% |
Operating Income $B | 5.82 $B | 5.88 $B | -1.04% |
Net Income $B | 3.48 $B | 3.13 $B | +11.15% |
EPS (Basic) $ | 6.36 $ | 5.41 $ | +17.56% |
EPS (Diluted) $ | 6.34 $ | 5.38 $ | +17.84% |
SG&A Expense $B | 6.88 $B | 6.56 $B | +4.86% |
Answers draw on this SEC filing and the data on this page
Fiserv's Q2 FY2026 earnings declined sharply as higher transformation costs and a drop in high-margin license revenue outweighed volume growth and one-time gains.
Fiserv reported a challenging Q1 FY2026 with revenue declining 2.0% YoY to $5.03B and operating income falling 34.2% to $918M, driven by a significant 12.1% surge in SG&A expenses that compressed operating margins from 27.2% to 18.3%.
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