Fiserv (FISV) FY2019 results: revenue $10.2 billion, up 74.9% on the year
Fiserv Inc. (FISV) reported revenue of $10.2 billion for fiscal 2019, the year ended 31 December 2019, up 74.9% on the year before. Net income was $893 million, down 24.8%, and diluted earnings per share $1.71. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2020.
Revenue
$10.2 billion
+74.9% on the year
FY2012FY2019
Operating margin
15.8%
30.1% a year earlier
FY2012FY2019
Net income
$893 million
-24.8% on the year
FY2012FY2019
Diluted EPS
$1.71
-40.4% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
10,187
5,823
5,696
+74.9%
Cost of revenue
n/a
3,069
3,024
Gross profit
n/a
2,754
2,672
Gross margin
n/a
47.3%
46.9%
Selling, general and administrative
3,284
1,228
1,150
+167.4%
Operating income
1,609
1,753
1,532
-8.2%
Operating margin
15.8%
30.1%
26.9%
Interest expense
507
193
176
+162.7%
Pre-tax income
1,083
1,555
1,358
-30.4%
Income tax
198
378
158
-47.6%
Effective tax rate
18.3%
24.3%
11.6%
Net income
893
1,187
1,246
-24.8%
Net margin
8.8%
20.4%
21.9%
Diluted EPS
$1.71
$2.87
$2.89
-40.4%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
2,795
1,552
1,502
+80.1%
Capital expenditure
721
360
287
+100.3%
Free cash flow
2,074
1,192
1,215
+74.0%
Free cash flow margin
20.4%
20.5%
21.3%
Cash from investing
-15,680
-663
n/a
Cash from financing
14,373
-842
n/a
Depreciation and amortisation
1,778
556
444
+219.8%
Share-based compensation
229
73.0
63.0
+213.7%
Buybacks
n/a
1,946
1,223
Diluted shares, weighted
523m
414m
431m
+26.3%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
32,979
2,293
2,731
+1,338.2%
Non-controlling interest
1,616
0.0
n/a
Redeemable equity
262
0.0
n/a
Debt
21,899
5,955
4,897
+267.7%
Operating lease liabilities
603
n/a
n/a
Finance lease liabilities
144
n/a
n/a
Other liabilities
20,036
3,014
2,661
+564.8%
Total liabilities and equity
77,539
11,262
10,289
+588.5%
Fixed assets
1,606
398
390
+303.5%
Goodwill
36,038
5,702
5,590
+532.0%
Intangible assets
17,642
2,143
1,882
+723.2%
Cash and equivalents
893
415
325
+115.2%
Receivables
2,782
1,049
997
+165.2%
Other assets
18,578
1,555
1,105
+1,094.7%
Total assets
77,539
11,262
10,289
+588.5%
10-K for the year ended 31 December 2019, filed 27 February 2020: the filing.