Leadership launched the One Fiserv action plan, reset growth and margin targets, and focused on sustainable, client-centric growth, operational excellence, and AI-driven transformation.
Significant leadership changes included new Co-Presidents, a new CFO, and new Board members to strengthen governance and execution.
Positioned as a leading global fintech at the intersection of finance and commerce, with a focus on small business platforms, embedded finance, and stablecoin innovation.
Merchant segment revenue grew 5% to $2.59B, driven by Clover POS and value-added services; Financial segment revenue declined 3% to $2.33B due to lower license and termination fees.
Major acquisitions included CardFree, Smith Consulting Group, StoneCastle, and a portion of TD Bank's merchant processing business.
Q3 2025 GAAP revenue: $5.26B (+1% YoY); adjusted revenue: $4.92B (+1% YoY); nine months: $15.91B GAAP (+5% YoY), $14.90B adjusted (+5% YoY).
Q3 2025 GAAP EPS: $1.46 (+49% YoY); adjusted EPS: $2.04 (-11% YoY); nine months: $4.83 GAAP (+29% YoY), $6.65 adjusted (+6% YoY).
Q3 adjusted operating margin: 37.0% (down 320 bps YoY); GAAP operating margin: 27.3% (down 340 bps YoY); nine months adjusted margin: 38.2%.
Free cash flow for Q3: $1.3B; nine months: $2.88B; full-year expected at ~$4.25B; CapEx for Q3: $507M; 2025 CapEx expected at ~$1.8B.
Share repurchases: 7.2M shares for $1.0B in Q3; 29.1M shares for $5.4B in nine months; 48.9M shares remain authorized.
2025 organic revenue growth expected at 3.5–4%; adjusted EPS guidance of $8.50–$8.60, a modest year-over-year decline.
Adjusted operating margin expected to contract by ~200 bps in 2025; free cash flow for 2025 projected at ~$4.25B.
2026 will be a transition year with low single-digit organic revenue growth and adjusted EPS down modestly versus 2025; double-digit adjusted EPS growth targeted starting in 2027.
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Fiserv, Inc., established in 1984, is a leading global provider of financial services technology. Its solutions enable thousands of financial institutions, businesses, and consumers to manage and move money easily and securely and they have become a vital cog in the global financial ecosystem. The company's product portfolio can be broadly categorized into payments, processing services, risk and compliance, customer and channel management, and insights and optimization.
Fiserv's journey has been marked by a series of strategic acquisitions and product innovations, and its birth was in turn the result of two firms in 1984. The company went public just two years later, and the company has expanded its reach and services, adapting to the evolving needs of the financial industry.
It has brought together best-in-class technologies and expertise through a number of strategic acquisitions, including leading companies like First Data Corporation, CheckFree, and Open Solutions. These acquisitions have significantly broadened Fiserv's capabilities, enabling it to provide an all-encompassing suite of financial services technology solutions.
Fiserv offers a comprehensive suite of financial solutions that streamline operations and enhance security across various financial transactions. Their offerings include an array of services such as banking solutions, payment processing, risk and compliance management, and investment services, each designed to address the dynamic needs of today's financial landscape.
Their payment solutions handle billions of transactions annually, with everything from debit and credit card processing to electronic bill payments, mobile banking, and point-of-sale services. Meanwhile, their risk and compliance solutions assist businesses in mitigating financial risks, ensuring regulatory compliance, and preventing financial crimes. The banking and investment services provided by Fiserv are designed to optimize operational efficiency for financial institutions, saving money for the client and creating smoother customer experiences.
Fiserv has a long history of excellence and recognition by the global financial services community. Oftentimes described as the quiet worker toiling away in the background to ensure that critical services run smoothly. The company has been listed as number one in FORTUNE Magazine's list of “World's most admired companies” numerous times. This is also highlighted by the fact that their customer includes names like JPMorgan, Wells Fargo, and Citi.
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