Global Payments (GPN) Q4 FY2021 earnings: revenue $2.2 billion, up 13.7% on the year

Global Payments Inc. (GPN) reported revenue of $2.2 billion for Q4 FY2021, the quarter ended 31 December 2021, up 13.7% on the same quarter a year earlier. Net income was $208 million, up 14.1% on the year, and diluted earnings per share $0.72. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2022.

Revenue

$2.2 billion

+13.7% on the year · -0.4% on the quarter

Q1 FY2020Q4 FY2021

Operating margin

14.6%

13.1% a year earlier

Q1 FY2020Q4 FY2021

Net income

$208 million

+14.1% on the year · -29.8% on the quarter

Q1 FY2020Q4 FY2021

Diluted EPS

$0.72

+18.0% on the year · -28.7% on the quarter

Q1 FY2020Q4 FY2021

this quarterthe same quarter a year earlierHover a bar for its figure.

Income statement (profit and loss)

$ million	Q4 FY2021	Q3 FY2021	Q4 FY2020	On the quarter	On the year
Revenue	2,194	2,202	1,930	-0.4%	+13.7%
Cost of revenue	968	n/a	n/a
Gross profit	1,226	n/a	n/a
Gross margin	55.9%	n/a	n/a
Selling, general and administrative	905	n/a	n/a
Operating income	321	400	252	-19.8%	+27.4%
Operating margin	14.6%	18.2%	13.1%
Interest expense	85.5	n/a	n/a
Pre-tax income	237	n/a	n/a
Income tax	37.4	n/a	n/a
Effective tax rate	15.8%	n/a	n/a
Net income	208	297	183	-29.8%	+14.1%
Net margin	9.5%	n/a	n/a
Diluted EPS	$0.72	$1.01	$0.61	-28.7%	+18.0%

$ million except per share.

Fourth quarters are the year less the first three quarters. Free 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	Q4 FY2021	Q3 FY2021	Q4 FY2020	On the quarter	On the year
Operating cash flow	753	n/a	n/a
Capital expenditure	142	n/a	n/a
Free cash flow	611	n/a	n/a
Free cash flow margin	27.8%	n/a	n/a
Cash from investing	-998	n/a	n/a
Cash from financing	-95.2	n/a	n/a
Depreciation and amortisation	425	419	407	+1.6%	+4.5%
Share-based compensation	34.7	n/a	n/a
Buybacks	700	n/a	n/a
Dividends paid	71.5	n/a	n/a
Diluted shares, weighted	288m	293m	n/a	-1.4%
Shares outstanding at period end	285m	290m	298m	-1.8%	-4.6%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q4 FY2021	Q3 FY2021	Q4 FY2020	On the quarter	On the year
Shareholders' equity	25,628	26,147	27,332	-2.0%	-6.2%
Non-controlling interest	241	n/a	n/a
Debt	11,978	11,337	9,652	+5.6%	+24.1%
Operating lease liabilities	551	n/a	n/a
Finance lease liabilities	44.5	n/a	n/a
Other liabilities	6,838	n/a	n/a
Total liabilities and equity	45,280	n/a	n/a
Goodwill	24,813	n/a	n/a
Intangible assets	11,634	n/a	n/a
Cash and equivalents	1,979	2,348	1,946	-15.7%	+1.7%
Receivables	946	n/a	n/a
Other assets	5,907	n/a	n/a
Total assets	45,280	n/a	n/a

Questions

What was Global Payments' revenue in Q4 FY2021?

Global Payments (GPN) reported revenue of $2.2 billion for Q4 FY2021, the quarter ended 31 December 2021, up 13.7% on the same quarter a year earlier.

How much did Global Payments earn in Q4 FY2021?

Net income for Q4 FY2021 was $208 million, up 14.1% on the year, and diluted earnings per share $0.72.

When did Global Payments report Q4 FY2021 results?

Global Payments filed its 10-K for the year that ended with the quarter on 18 February 2022; the fourth quarter is the year less the first three.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024 †	Q2 FY2024 †	Q3 FY2024 †	Q4 FY2024 *	Q1 FY2025 †	Q2 FY2025 †	Q3 FY2025 †	Q4 FY2025 * †	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	2,194	2,156	2,281	2,285	2,253	2,292	2,452	2,476	2,434	1,834	1,971	1,998	2,515	1,820	1,969	2,020	1,897	2,970	3,321	3,306
Cost of revenue	968	957	962	931	928	948	942	916	922	499	504	505	952	495	502	559	557	1,274	1,294	1,297
Gross profit	1,226	1,199	1,319	1,354	1,325	1,345	1,511	1,560	1,512	1,335	1,467	1,493	1,563	1,325	1,468	1,460	1,339	1,696	2,027	2,010
Gross margin	56%	56%	58%	59%	59%	59%	62%	63%	62%	73%	74%	75%	62%	73%	75%	72%	71%	57%	61%	61%
SG&A	905	823	863	919	919	1,043	1,014	1,002	1,015	975	991	1,050	1,003	957	1,041	1,030	1,092	1,712	1,690	1,763
Operating income	321	376	-530	386	408	56.7	603	558	499	360	475	443	833	372	393	774	215	-15.6	337	246
Operating margin	15%	17%	-23%	17%	18%	2%	25%	23%	20%	20%	24%	22%	33%	20%	20%	38%	11%	-1%	10%	7%
Interest expense	85.5	89.3	97.1	132	118	119	172	173	165	158	151	147	154	145	151	142	196	239	261	266
Pre-tax income	237	284	-626	272	294	-55.1	439	418	368	240	361	348	719	261	276	651	70.9	-224	104	4.1
Tax rate	16%	18%	n/a	5%	16%	n/a	39%	14%	3%	3%	18%	17%	20%	17%	15%	31%	-46%	n/a	-5%	-1643%
Net income	208	245	-673	290	249	-11.0	274	362	361	313	375	315	567	306	242	635	218	-1,800	13.0	281
Net margin	10%	11%	-30%	13%	11%	-0%	11%	15%	15%	17%	19%	16%	23%	17%	12%	31%	11%	-61%	0%	8%
Diluted EPS	$0.72	$0.87	-$2.42	$1.05	$0.94	-$0.04	$1.05	$1.39	$1.38	$1.22	$1.47	$1.24	$2.25	$1.24	$0.99	$2.64	$0.92	-$6.59	$0.05	$1.06
Operating cash flow	753	630	568	336	710	600	565	427	657	530	737	1,726	653	555	818	769	n/a	-289	663	-161
Capital expenditure	142	156	168	139	152	162	169	170	157	145	179	166	184	128	152	170	168	261	236	232
Free cash flow	611	474	400	197	557	437	396	257	500	384	558	1,560	469	428	665	599	n/a	-550	427	-393
Buybacks	700	650	600	890	782	203	215	0.0	0.0	800	100.0	0.0	652	446	245	500	-0.1	550	550	140
Dividends paid	71.5	70.2	69.1	68.8	65.9	65.8	64.9	65.0	64.8	63.6	63.4	63.4	62.3	61.1	60.4	58.0	59.1	68.2	66.5	66.0
Shares outstanding	285m	281m	277m	270m	263m	262m	260m	260m	260m	255m	254m	254m	249m	245m	242m	237m	237m	273m	266m	265m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	8-K	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS 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 the share count are as they are. Free 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-K for the period ended 31 December 2021, filed 18 February 2022: the filing.