Fiserv Inc (FISV)

Financials · Transaction & Payment Processing Services · US stock · S&P 500 component

$49.86 ▼ -0.96 (1.89%)

At close 23 Oct 2026 · USD · Volume 5,219,099

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Interactive chart Research report Forecast ranges Pro workspace SEC filings Historical data

Fair valueUndervalued

$80 +59.6% to fair value

$40fair band $68–$96$119

Day's range

$48.84 – $50.50

52-week range

$43.87 – $128.78

About Fiserv Inc

Fiserv provides payment and financial technology to banks, credit unions and merchants. It runs the core systems that financial institutions use for accounts, loans and digital banking, processes card and electronic payments, and supplies the Clover point-of-sale platform to small businesses. Customers are therefore financial institutions and merchants of all sizes, and its business spans both merchant payments and bank technology.

Revenue is largely recurring, coming from processing fees, software and service charges, and fees tied to payment volumes. It was $20.9 billion over the last twelve months, with growth of 6.1% a year across the last three years. The operating margin is 22.3%, and the business earns a profit of 7% on the capital invested in it. Net debt is 5.8 times EBITDA, and no dividend is paid. On the site's X-Ray Score it receives 49 out of 100.

Price chart

Interactive chart Historical data & CSV

52-wk range $43.87 – $128.78Volume 5,219,099Daily, split-adjusted

Vitals

Market cap$26.6B

52-week range$43.87 – $128.78

Volume (last day)5,219,099

P/E (TTM)9.6

EBIT / EV yield8.6%

Free-cash-flow yield14.8%

Dividend yieldNo dividend

Revenue (TTM)$20.9B

Net income (TTM)$2.8B

Operating margin22.3%

Return on capital7.2%

Debt incl. leases$27.9B

Cash & securities$627M

Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.

Fair value estimate

$80middle half of models $74 – $85

Undervalued +59.6% to fair value

Average of the 9 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is Low, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.

Price $50

Undervalued < $68Fair $68 – $96Overvalued > $96

P/E multiple

$65

P/B multiple

$90

P/S multiple

$99

EV/EBITDA multiple

$69

EV/EBIT multiple · not used

$106

EV/revenue multiple

$85

10-year DCF, EBITDA exit

$81

5-year DCF, EBITDA exit

$76

10-year DCF, revenue exit

$76

5-year DCF, revenue exit

$74

10-year DCF, growth exit · not used

$141

5-year DCF, growth exit · not used

$141

Earnings power value · not used

$166

Growth the price implies

-2.4%/yr

A model estimate, not a price target or recommendation. Inputs: risk-free 4.96%, equity risk premium 4.30% (Damodaran). How it works.

What this means

Weak business, but the price is low

Our models put fair value above today's price, but models can be wrong, so check the business first. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.

Before you invest · decision checklist

I understand how this company makes money Business quality is average or better 33 The price is not above fair value $80 fair value Debt looks manageable 5.8× EBITDA Revenue has been growing 6.1% a year Profits are backed by cash There are no red flags none raised I know what share of my savings this would be

Ticked boxes are filled in from our data; the rest are yours to answer.

The five-lens scan

Every score explained in one sentence, ranked against Financials peers. Open a lens to see the numbers behind it.

Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data

Valuation Strong

81/100

Cheap against its sector on earnings and cash flow.

See the numbers →

EBIT / EV yield8.6%

Free-cash-flow yield14.8%

Fair value vs price1.6×

Growth Weak

41/100

Growing slower than most of its sector.

See the numbers →

Revenue growth (3y)6.1%

EPS growth (3y)17.5%

Growth consistency80%

Profitability Weak

46/100

Earns lower returns on its capital than most peers.

See the numbers →

Return on invested capital7.2%

Operating margin22.3%

Financial health Weak

21/100

Balance sheet is more stretched than most peers.

See the numbers →

Piotroski F-Score5 / 9

Net debt / EBITDA5.8×

Interest cover3.0×

Dividends None

–/100

Pays no dividend.

See the numbers →

Quarterly results: last 6 quarters

+5.1%

Mar '25

+8.0%

Jun '25

+0.9%

Sep '25

+0.6%

Dec '25

-2.0%

Mar '26

-4.1%

Jun '26

Revenue against the same quarter a year earlier. Latest quarter revenue $5.3B, diluted EPS $1.17.

Compare with peers

PYPL PayPal Holdings, Inc.65 JKHY Jack Henry & Associate...60 MA Mastercard Inc57 CPAY Corpay, Inc.55

Other Transaction & Payment Processing Services companies by X-Ray Score.

SWOT analysis: Fiserv Inc

Strengthsinside the company

Earnings per share have compounded at 17.5% a year over three years.
Free cash flow equals 14.8% of the market value, which funds dividends, buybacks or debt paydown.

Weaknessesinside the company

Net debt is 5.8x EBITDA, above the 3x level that lenders usually watch.

Opportunitiesvaluation and setting

Trades at 9.5x earnings, 60% below the 23.5x median of industry peers.
The price is 60% below our fair value estimate, with the gap larger than the margin we allow for error.
Our Market Compass rates the backdrop for Financials as favourable.

Threatsvaluation and setting

Heavy debt makes profits sensitive to interest rates and refinancing conditions.

Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.

Compare FISV with peers and sector

Medians of 7 Transaction & Payment Processing Services peers and of 70 Financials stocks in our universe. Largest peers (X-Ray Score): MA 57, PYPL 65, XYZ 45, CPAY 55, GPN 30, FIS 36.

Metric	FISV	Peers	Sector
X-Ray Score (out of 100)	49	55	52
Valuation	81	46	51
Growth	41	54	54
Profitability	46	63	49
Financial health	21	61	51
Dividends	–	37	54

Sector leaders: highest X-Ray Score in Financials

FISV ranks #42 of 71 in Financials and #5 of 8 in Transaction & Payment Processing Services by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.

Company	X-Ray Score
#1 PGR Progressive Corp	69
#2 AMP Ameriprise Financial Inc	68
#3 SCHW Schwab Charles Corp	68
#4 AIZ Assurant, Inc.	68
#5 PYPL PayPal Holdings, Inc.	65
…
#42 FISV Fiserv Inc (this stock)	49

Metric	FISV	Peers	Sector
P/E ratio	9.5x	23.5x	13.7x
PEG ratio	0.54	1.98	1.20
Price / book	1.0x	2.6x	2.2x
Price / sales	1.3x	2.2x	3.1x
EV / EBITDA	11.6x	14.8x	10.6x
Price / free cash flow	6.8x	16.7x	16.9x
Dividend yield	–	1.2%	1.9%
Gap to our fair value	+59.6%	+28.4%	+6.4%

Metric	FISV	Peers	Sector
Price change, 1 month	+8.5%	+8.2%	+3.4%
Price change, 3 months	−0.2%	+6.7%	−2.7%
Price change, 6 months	−19.0%	+15.3%	+7.2%
Price change, 1 year	−59.8%	−2.7%	+13.4%

Metric	FISV	Peers	Sector
Market value	$26.6B	$27.1B	$46.9B
Revenue (last 12 months)	$20.9B	$12.2B	$15.6B
EBITDA (last 12 months)	$4.7B	$3.7B	$4.4B
Net income (last 12 months)	$2.8B	$1.1B	$3.3B
Free cash flow (last 12 months)	$3.9B	$2.8B	$2.2B

Metric	FISV	Peers	Sector
Revenue growth, last year	+3.6%	+5.4%	+6.9%
Revenue growth, 3 years a year	+6.1%	+7.0%	+8.7%
EPS growth, 3 years a year	+17.5%	+17.4%	+12.5%
Free cash flow growth, 3 years a year	+11.1%	+21.7%	+13.6%
Dividend growth	–	+0.2%	+5.4%

Metric	FISV	Peers	Sector
Gross margin	–	45.0%	54.1%
EBITDA margin	22.3%	34.1%	31.4%
Operating margin	22.3%	17.9%	29.3%
Net margin	13.4%	19.8%	22.1%
Return on invested capital	7.2%	9.9%	13.6%
Return on equity	10.4%	24.5%	16.0%

Metric	FISV	Peers	Sector
Net debt / EBITDA	5.8x	0.6x	1.1x
Interest cover	3.0x	13.4x	50.0x
Current ratio	1.0x	1.1x	1.1x
Piotroski F-score (0 to 9)	5	5	7

Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.

Factor ratings for FISV

Each factor is rated by where FISV stands among the 71 Financials stocks in our universe.

Rating against the sector

Goodthe top third of these stocks

Averagethe middle third of these stocks

Badthe bottom third of these stocks

"Beats" is the share of those stocks it is ahead of.

Against its own history

The last columns set today's figure against the company's own median of its last five financial years:

▲ Betterbetter than its usual level

▼ Worseworse than its usual level

≈ In linewithin its usual range

For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.

In total: 7 Good · 7 Average · 7 Bad of 21 Growth: 1 · 1 · 1 Profitability: 0 · 1 · 3 Financial strength: 0 · 1 · 3 Valuation: 4 · 1 · 0 Cash flow: 2 · 2 · 0 Efficiency: 0 · 1 · 0

Factor	FISV	Rating	Sector median	Own 5-year median	Against own history
Growth
Revenue growth, 3 years a year	+6.1%	Average beats 38%	+8.3%	–	–
Revenue growth, last year	+3.6%	Bad beats 22%	+6.9%	+7.6%	▼ Worse
EPS growth, 3 years a year	+17.5%	Good beats 67%	+12.7%	–	–
Profitability
Operating margin	22.3%	Average beats 35%	29.1%	26.3%	▼ Worse
Net margin	13.4%	Bad beats 27%	21.8%	15.3%	▼ Worse
Return on invested capital	7.2%	Bad beats 23%	13.5%	–	–
Return on equity	10.4%	Bad beats 26%	15.7%	10.3%	≈ In line
Financial strength
Net debt / EBITDA	5.8x	Bad beats 3%	1.1x	3.7x	▼ Worse
Interest cover	3.0x	Bad beats 4%	50.0x	4.7x	▼ Worse
Current ratio	1.04	Average beats 46%	1.05	1.04	≈ In line
Piotroski F-score	5 / 9	Bad beats 23%	7 / 9	–	–
Valuation
P/E ratio	9.5x	Good beats 86%	13.7x	26.7x	▲ Better
Price / book	1.0x	Good beats 94%	2.1x	2.3x	▲ Better
Price / sales	1.3x	Good beats 90%	3.1x	4.3x	▲ Better
EV / EBITDA	11.6x	Average beats 42%	10.7x	12.7x	≈ In line
Free cash flow yield	14.8%	Good beats 85%	5.9%	4.6%	▲ Better
Cash flow
Free cash flow margin	18.8%	Average beats 38%	23.2%	19.8%	≈ In line
Cash from operations / net income	2.08	Good beats 84%	1.25	1.83	▲ Better
Free cash flow growth, 3 years a year	+11.1%	Average beats 45%	+12.7%	–	–
Accruals (lower is better)	−3.7%	Good beats 84%	−1.0%	–	–
Efficiency
Days sales outstanding	68 days	Average beats 39%	53 days	68 days	≈ In line

These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.

Fundamentals checklist

● 3 Good · ● 7 Average · ● 5 Bad

Cash quality

Earnings backed by cashGood

Free-cash-flow yieldGood

Risk models

Altman Z''Average

Piotroski F-ScoreBad

Growth

EPS growth (3y)Average

Free-cash-flow growth (3y)Average

Revenue growth (3y)Average

Growth consistencyBad

Balance sheet

Current ratioAverage

Net debt / EBITDABad

Interest coverBad

Valuation

Fair value vs priceGood

EBIT / EV yieldAverage

Profitability

Return on invested capitalBad

Operating marginAverage

Each check is graded against the company's sector, not a fixed number. Checklist score 48/100.

Financials

	FY21	FY22	FY23	FY24	FY25
Revenue	$16.2B	$17.7B	$19.1B	$20.5B	$21.2B
Operating income	$2.3B	$3.7B	$5.0B	$5.9B	$5.8B
Net income	$1.3B	$2.5B	$3.1B	$3.1B	$3.5B
Operating cash flow	$4.0B	$4.6B	$5.2B	$6.6B	$6.1B
Operating margin	14.1%	21.1%	26.3%	28.7%	27.5%
Free cash flow	$2.9B	$3.1B	$3.8B	$5.1B	$4.3B
Diluted EPS	$1.99	$3.91	$4.98	$5.38	$6.34

Fiscal years, from SEC filings.

Technical summary

Daily

Neutral

8 bullish · 1 neutral · 7 bearish

Weekly

Strongly bearish

2 bullish · 1 neutral · 9 bearish

Monthly

Strongly bearish

0 bullish · 1 neutral · 7 bearish

Moving averages (daily)

SMA 10	47.84	Bullish
EMA 10	48.22	Bullish
SMA 20	46.66	Bullish
EMA 20	47.69	Bullish
SMA 50	49.04	Bullish
EMA 50	48.70	Bullish
SMA 100	50.36	Bearish
EMA 100	51.32	Bearish
SMA 200	55.21	Bearish
EMA 200	61.99	Bearish

Oscillators (daily)

RSI (14)	60.53	Neutral
MACD (12, 26)	0.23	Bullish
Momentum (12)	10.04	Bullish
Stochastic %K (14)	84.07	Bearish
Williams %R (14)	-15.93	Bearish
CCI (20)	173.5	Bearish

Pivot points (classic, last session)

47.31

48.07

48.97

Pivot

49.73

50.63

51.39

52.29

Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.

ETFs that hold FISV

ETF	Share of the fund
CGMM Capital Group U.S. Small and Mid Cap	0.77%
CGGO Capital Group Global Growth Equity	0.71%
CGBL Capital Group Core Balanced	0.65%
FEGE First Eagle Global Equity	0.52%
FMDE Fidelity Enhanced Mid Cap	0.52%
RPV Invesco S&P 500 Pure Value	0.49%
FELC Fidelity Covington	0.41%
VOE Vanguard Mid-Cap Value	0.41%

The eight funds with the largest weight in FISV among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.