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Fiserv, Inc.
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NASDAQ: FISV Technology IT 🔎 Screen
S&P 500
$27.1B
Market Cap
10.0
P/E
1.75
PEG
8.2%
ROCE
10.8%
ROE
1.04
D/E
21.4%
OPM
-28.4%
% from 52W High
27
α RS
🔍 FISV is showing a multi-screen setup because it matches 3 of 39 tracked screener presets, Sector RRG has Technology in the Improving quadrant with the trail still strengthening, and an ECS of 57.5 last quarter. The main caution: the Margin Expansion preset's Backtest win rate is only 46.6%. Net: Mixed signal stack, not a recommendation. ? Conviction RRG ECS Backtest
Sources
Conviction 3/39 · Technology in Improving quadrant · ECS 57.5 · Backtest win rate 46.6%
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🌏 Global Investor Returns
Currency-adjusted total returns for FISV including FX impact
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📈 Price History
Ratio Health
— Excellent
— Good
— Average
— Poor
By Category
📊 Peer Medians
About

Fiserv, Inc. provides payments and financial services technology solutions in the United States, Europe, the Middle East and Africa, Latin America, the Asia-Pacific, and internationally. It operates through the Merchant Solutions and Financial Solutions segments. The Merchant Solutions segment offers merchant acquiring and digital commerce services; mobile payment services; security and fraud protection solutions; stored-value solutions; software-as-a-service; POS devices; and pay-by-bank solutions. Its Financial Solutions segment provides digital payments, including debit card processing services, debit network services, security and fraud protection products, bill payment, person-to-person payments, and account-to-account transfers; issuing services comprising credit card processing services, prepaid card processing services, card production services, print services, government payment processing, and student loan processing; and banking services, such as customer loan and deposit account processing, digital banking, financial and risk management, professional services and consulting, and check processing services. The company serves merchants, banks, credit unions, other financial institutions, corporate, and public sector customers. The company has a strategic alliance with Western Alliance Bancorporation; it has a strategic partnership with Mastercard to enable eligible enterprise merchants simplify commerce through an expanded suite of integrated value-added services. Fiserv, Inc. was incorporated in 1984 and is headquartered in Milwaukee, Wisconsin.

Key Ratios Snapshot
📈 Growth Pattern
📊 Quick Scorecard
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Manager Shares Value % of Fund Period
Jim Simons Renaissance Technologies LLC 668.2K $37.3M 0.06% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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3-Statement Financial Model
Bear / Base / Bull projections · DCF fair value · Reverse-DCF
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🎙 Management Tone Mixed ~ Volatile 5 quarters Full tone analysis in Intelligence →
Mixed quarter Investor Presentation One-Pager? Q2 2026
Revenue
$4.96B
-4% YoY
Operating Income
$1.6B
N/A
Operating Margin
31.8%
-7.8pp YoY
Adjusted EPS
$1.84
-26% YoY
What Went Right
  • Clover GPV grew 9% (11% ex gateway conversion) and Clover revenue grew 13% ex anticipation and non-recurring items
  • Western Alliance Bank went live on Clover, bringing roughly 40 of the top 100 U.S. banks into the Clover ecosystem
  • Finxact positions and accounts grew over 75%, with Flagstar and UW Credit Union as notable core wins
What to Watch
  • Full-year 2026 organic revenue guidance cut to -1% to 0% from prior view
  • Argentina anticipation was a 90bps revenue and 60bps margin headwind in Q2, with continued macro uncertainty
  • Merchant hardware revenue and Clover reported revenue growth are under pressure, now expected mid-single digits for 2026
Management Guidance
  • Second-half 2026 adjusted revenue growth of approximately 2%; Q3 down low single digits and Q4 up approximately mid-single digits
  • Full-year 2026 organic revenue guidance of -1% to 0% and adjusted revenue guidance of -1.5% to -0.5%
  • Full-year 2026 adjusted EPS of $7.20-$7.40 and adjusted operating margin of 31%-31.5%
  • Free cash flow conversion of approximately 90% for 2026
Investor Lens
The near-term thesis weakens after the guidance cut, but management argues the drivers are mostly timing — client ramps, Argentina and hardware — rather than structural. Recurring revenue remains roughly 84-85% of adjusted revenue, underlying volumes are stable, and Clover continues to grow double-digits ex gateway conversion. Strong free cash flow and deleveraging support capital returns, while the portfolio review could unlock additional value. The key watch item is execution on FS modernization and whether the delayed revenue actually returns in Q4 and 2027.
From investor presentation · AI-generated analysis · Not investment advice
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📊 MIXED Mixed quarter: in-line Q2 but material FY26 guidance reduction
Revenue
Adjusted revenue was $4.96B, down 4% YoY. Merchant Solutions organic revenue declined 1%, while Financial Solutions organic revenue declined 8%. Recurring revenue grew 2% and represented 84% of total adjusted revenue.
Profitability
Adjusted EPS was $1.84, down 26% YoY. Net income was not explicitly disclosed. Adjusted operating income was nearly $1.6B.
Margins
Adjusted operating margin was 31.8%, down 7.8pp from 39.6% a year ago. Merchant margin was 30.0% and Financial Solutions margin was 38.7%. Argentina anticipation absorbed 60bps of margin in Q2.
Balance Sheet
Q2 free cash flow was $1.1B and first-half free cash flow was $1.36B. Gross debt-to-adjusted EBITDA finished below 3.2x. The company repurchased 1.7M shares for $100M, completed a $1.4B tender and $1.2B open market repurchase, and issued €1B of euro bonds.
Key Risks
Management flagged continued Argentina anticipation volatility, slower enterprise client implementation ramps, and weaker merchant hardware sales. Analysts also probed the pace of FS modernization, portfolio divestitures, and competitive threats in core banking.
Outlook
For 2026, Fiserv expects organic revenue of -1% to 0%, adjusted revenue of -1.5% to -0.5%, adjusted EPS of $7.20-$7.40, and adjusted operating margin of 31%-31.5%. It expects Q3 revenue down low single digits and Q4 up mid-single digits, with medium-term growth rates reiterated.
Generated by AI · Q2 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-08-06
Q2 2026 results met guidance with strong free cash flow and stable recurring revenue, but revenue and margins declined year-over-year due to macro headwinds, delayed client ramps, and increased tech investment. Full-year guidance was lowered, but management expects growth to rebound in Q4 and beyond.
Q1 2026 Q1 2026 2026-05-05
Q1 2026 results met expectations with adjusted revenue of $4.68B and EPS of $1.79, reflecting a transition year impacted by non-recurring revenue and investments. Merchant Solutions showed solid Clover growth, while Financial Solutions faced headwinds but saw improving client metrics. Guidance for 2026 remains unchanged, with stronger performance expected in the second half.
Q4 2025 Q4 2025 2026-02-10
Q4 2025 results were stable with flat revenue and strong cash flow, while 2026 guidance anticipates modest growth as investments and tough comps weigh on the first half. Merchant Solutions, led by Clover, and Financial Solutions face headwinds but are expected to improve in the second half.
Q3 2025 Q3 2025 2025-10-29
Q3 results reflect a strategic reset, with 1% revenue growth and 11% lower adjusted EPS, driven by FX headwinds and investment shifts. 2025 guidance calls for 3.5%-4% organic revenue growth and modest EPS decline, with a return to double-digit EPS growth targeted for 2027.
Q2 2025 Q2 2025 2025-07-23
Q2 saw 8% revenue and 16% EPS growth, with strong Clover performance and expanded partnerships. Guidance was refined to 10% organic revenue growth due to delayed product launches, but margin and share repurchase targets remain robust.
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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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