Financials Fiserv, Inc.

Equities

FISV

US3377381088

Business Support Services

Market Closed - Nasdaq Other stock markets 01:30:00 19/05/2026 am IST			5-day change	1st Jan Change
56.66 ^USD	+2.40%		+4.17%	-15.65%

16/05	Jana Partners Management dissolves share stake in Freshpet; raises in Fiserv	RE
16/05	Fiserv, Inc. - Analyst/Investor Day

Projected Income Statement: Fiserv, Inc.

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Net sales ¹	16,226	16,773	18,041	19,123	19,804	20,044	20,861	21,641
Change	-	3.37%	7.56%	6%	3.56%	1.21%	4.08%	3.74%
EBITDA ¹	6,370	7,202	8,208	9,209	9,255	8,646	8,985	9,298
Change	-	13.06%	13.97%	12.2%	0.5%	-6.58%	3.92%	3.49%
EBIT ¹	5,212	5,882	6,729	7,537	7,398	6,745	7,177	7,651
Change	-	12.85%	14.4%	12.01%	-1.84%	-8.83%	6.42%	6.6%
Interest Paid ¹	-693	-733	-976	-1,195	-1,493	-1,430	-1,417	-1,433
Earnings before Tax (EBT) ¹	1,666	2,913	3,898	4,506	4,264	3,665	4,235	4,606
Change	-	74.85%	33.81%	15.6%	-5.37%	-14.05%	15.56%	8.77%
Net income ¹	1,334	2,530	3,068	3,131	3,480	3,014	3,361	3,615
Change	-	89.66%	21.26%	2.05%	11.15%	-13.4%	11.54%	7.55%
Announcement Date	08/02/22	07/02/23	06/02/24	05/02/25	10/02/26	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3	2027 Q4	2028 Q1
Net sales ¹	4,051	4,163	4,257	3,906	4,234	4,273	4,360	4,280	4,506	4,615	4,640	4,543	4,794	4,884	4,902	4,789	5,196	4,919	4,900	4,675	5,045	5,152	5,177	4,881	5,276	5,360	5,384	5,014
Change	-	2.76%	2.26%	-8.25%	8.4%	0.92%	2.04%	-1.83%	5.28%	2.42%	0.54%	-2.09%	5.52%	1.88%	0.37%	-2.31%	8.5%	-5.33%	-0.39%	-4.59%	7.92%	2.12%	0.49%	-5.72%	8.09%	1.6%	0.45%	-6.88%
EBITDA ¹	1,593	1,657	1,728	1,561	1,746	1,846	2,049	1,789	2,008	2,136	2,275	2,030	2,255	2,395	2,529	2,245	2,519	2,290	2,201	1,898	2,128	2,292	2,359	1,999	2,292	2,373	2,420	2,078
Change	-	4.02%	4.28%	-9.66%	11.85%	5.73%	11%	-12.69%	12.24%	6.37%	6.51%	-10.77%	11.08%	6.21%	5.59%	-11.23%	12.2%	-9.09%	-3.89%	-13.77%	12.12%	7.68%	2.96%	-15.27%	14.67%	3.52%	1.99%	-14.13%
EBIT ¹	1,309	1,356	1,431	1,248	1,417	1,506	1,711	1,437	1,643	1,760	1,889	1,629	1,841	1,962	2,105	1,808	2,059	1,822	1,709	1,390	1,660	1,820	1,878	1,515	1,808	1,914	1,957	1,621
Change	-	3.59%	5.53%	-12.79%	13.54%	6.28%	13.61%	-16.01%	14.34%	7.12%	7.33%	-13.76%	13.01%	6.57%	7.29%	-14.11%	13.88%	-11.51%	-6.2%	-18.67%	19.42%	9.64%	3.2%	-19.36%	19.38%	5.85%	2.23%	-17.14%
Charge d'intérêts ¹	-175	-172	-170	-168	-176	-190	-199	-202	-232	-258	-284	-261	-285	-326	-323	-331	-365	-422	-375	-347	-362.3	-362	-353.9	-352	-352	-352.6	-347.9	-338
Earnings before Tax (EBT) ¹	470	478	398	674	618	652	969	712	873	1,210	1,103	913	1,138	1,271	1,184	1,046	1,292	964	962	593	903.2	1,067	1,125	808.1	1,074	1,175	1,226	869.6
Change	-	1.7%	-16.74%	69.35%	-8.31%	5.5%	48.62%	-26.52%	22.61%	38.6%	-8.84%	-17.23%	24.64%	11.69%	-6.85%	-11.66%	23.52%	-25.39%	-0.21%	-38.36%	52.3%	18.14%	5.43%	-28.16%	32.85%	9.45%	4.37%	-29.09%
Net income ¹	269	428	333	669	598	481	782	563	683	952	870	735	894	564	938	851	1,026	792	811	571	714.9	843.7	891.5	627	852.6	943.1	984.5	663.5
Change	-	59.11%	-22.2%	100.9%	-10.61%	-19.57%	62.58%	-28.01%	21.31%	39.39%	-8.61%	-15.52%	21.63%	-36.91%	66.31%	-9.28%	20.56%	-22.81%	2.4%	-29.59%	25.2%	18.02%	5.66%	-29.67%	35.98%	10.61%	4.4%	-32.6%
Announcement Date	27/07/21	27/10/21	08/02/22	27/04/22	26/07/22	27/10/22	07/02/23	25/04/23	26/07/23	24/10/23	06/02/24	23/04/24	24/07/24	22/10/24	05/02/25	24/04/25	23/07/25	29/10/25	10/02/26	05/05/26	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Fiserv, Inc.

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Net Debt ¹	20,402	20,516	21,914	23,604	28,199	24,900	23,294	21,197
Change	-	0.56%	6.81%	7.71%	19.47%	-11.7%	-6.45%	-9%
Announcement Date	08/02/22	07/02/23	06/02/24	05/02/25	10/02/26	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Fiserv, Inc.

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
CAPEX ¹	1,160	1,479	1,388	1,569	1,763	1,849	1,805	1,829
Change	-	27.5%	-6.15%	13.04%	12.36%	4.91%	-2.39%	1.34%
Free Cash Flow (FCF) ¹	3,532	3,515	4,016	5,233	4,435	3,896	4,250	4,555
Change	-	-0.48%	14.25%	30.3%	-15.25%	-12.14%	9.07%	7.18%
Announcement Date	08/02/22	07/02/23	06/02/24	05/02/25	10/02/26	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Fiserv, Inc.

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Profitability
EBITDA Margin (%)	39.26%	42.94%	45.5%	48.16%	46.73%	43.14%	43.07%	42.97%
EBIT Margin (%)	32.12%	35.07%	37.3%	39.41%	37.36%	33.65%	34.41%	35.35%
EBT Margin (%)	10.27%	17.37%	21.61%	23.56%	21.53%	18.28%	20.3%	21.28%
Net margin (%)	8.22%	15.08%	17.01%	16.37%	17.57%	15.04%	16.11%	16.7%
FCF margin (%)	21.77%	20.96%	22.26%	27.36%	22.39%	19.44%	20.37%	21.05%
FCF / Net Income (%)	264.77%	138.93%	130.9%	167.14%	127.44%	129.29%	126.43%	126.01%
Profitability
ROA	4.97%	5.25%	5.3%	6.1%	6.03%	4.8%	5.01%	5.34%
ROE	11.84%	13.61%	15.27%	18%	17.95%	14.67%	14.3%	14.59%
Financial Health
Leverage (Debt/EBITDA)	3.2x	2.85x	2.67x	2.56x	3.05x	2.88x	2.59x	2.28x
Debt / Free cash flow	5.78x	5.84x	5.46x	4.51x	6.36x	6.39x	5.48x	4.65x
Capital Intensity
CAPEX / Current Assets (%)	7.15%	8.82%	7.69%	8.2%	8.9%	9.23%	8.65%	8.45%
CAPEX / EBITDA (%)	18.21%	20.54%	16.91%	17.04%	19.05%	21.39%	20.09%	19.68%
CAPEX / FCF (%)	32.84%	42.08%	34.56%	29.98%	39.75%	47.47%	42.48%	40.16%
Items per share
Cash flow per share ¹	6.007	7.128	8.381	11.39	11.04	11.35	13.11	14.76
Change	-	18.66%	17.59%	35.92%	-3.07%	2.79%	15.51%	12.59%
Dividend per Share ¹	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
Book Value Per Share ¹	47.62	48.93	50.26	46.5	-	57.22	63.46	71.05
Change	-	2.76%	2.72%	-7.49%	-	-	10.91%	11.96%
EPS ¹	1.99	3.91	4.98	5.38	6.34	5.757	6.637	7.582
Change	-	96.48%	27.37%	8.03%	17.84%	-9.19%	15.28%	14.24%
Nbr of stocks (in thousands)	6,60,232	6,35,028	6,00,186	5,68,919	5,37,852	5,33,254	5,33,254	5,33,254
Announcement Date	08/02/22	07/02/23	06/02/24	05/02/25	10/02/26	-	-	-