Summary
Fiserv, Inc. (FISV) reported solid performance for the fiscal year ended December 31, 2025, with total revenue reaching $21.2 billion, marking a 4% increase year-over-year. The company's Merchant Solutions segment demonstrated robust growth, up 5%, driven by its Small Business offerings, particularly the Clover® platform, and an increase in enterprise transaction volumes. The Financial Solutions segment also saw growth, albeit at a slower pace of 2%, supported by digital payments and issuing services, though banking revenue experienced a slight decline. Operating income saw a modest 1% decrease to $5.8 billion, impacted by increased expenses related to distribution partners, data processing, and the "One Fiserv" transformation program, which aims to enhance efficiency and innovation through AI. Despite margin pressures in the Merchant segment and increased interest expenses due to recent debt financing, Fiserv has maintained a strong balance sheet. The company actively repurchased approximately 32.2 million shares for $5.6 billion in 2025, underscoring its commitment to capital allocation. Acquisitions throughout the year, including StoneCastle, TD Merchant Canada, and others, strategically expanded its capabilities and market reach. The company also highlighted its ongoing investment in AI and innovation, particularly in areas like embedded finance and stablecoin technology, positioning itself for future growth in the evolving financial technology landscape.
Financial Highlights
50 data points| Revenue | $21.19B |
| SG&A Expenses | $6.88B |
| Operating Expenses | $15.38B |
| Operating Income | $5.82B |
| Net Income | $3.48B |
| EPS (Basic) | $6.36 |
| EPS (Diluted) | $6.34 |
| Shares Outstanding (Basic) | 547.10M |
| Shares Outstanding (Diluted) | 549.00M |
Key Highlights
- 1Total revenue increased by 4% to $21.2 billion in 2025, driven by a 5% rise in the Merchant segment and a 2% increase in the Financial segment.
- 2Operating income was $5.8 billion, a slight decrease of 1% year-over-year, with operating margins declining due to increased expenses and transformation costs.
- 3Fiserv completed eight acquisitions in 2025, including StoneCastle, TD Merchant Canada, and Payfare, strengthening its offerings in deposit funding, Canadian market presence, and embedded finance.
- 4The company repurchased 32.2 million shares of its common stock for $5.6 billion in 2025, demonstrating a commitment to shareholder returns.
- 5Significant investments are being made in AI to enhance products, services, and operational efficiency as part of the "One Fiserv" action plan.
- 6Despite increased debt, Fiserv maintained compliance with its debt covenants and has a revolving credit facility of $8.0 billion, indicating a stable liquidity position.
- 7The company is actively pursuing growth in emerging areas like embedded finance and stablecoin technology, signaling a focus on future innovation and market adaptation.