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Global Payments (GPN) FY2024 results: revenue $7.7 billion, up 4.8% on the year

Global Payments Inc. (GPN) reported revenue of $7.7 billion for fiscal 2024, the year ended 31 December 2024, up 4.8% on the year before. Net income was $1.6 billion, up 59.2%, and diluted earnings per share $6.16. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2025.

Revenue
$7.7 billion
+4.8% on the year
FY2017FY2024
Operating margin
25.5%
17.8% a year earlier
FY2017FY2024
Net income
$1.6 billion
+59.2% on the year
FY2017FY2024
Diluted EPS
$6.16
+63.4% on the year
FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ millionFY2024FY2023FY2022On the yearLast 8 years
Revenue7,7367,3808,976+4.8%
Cost of revenue2,0332,0683,779-1.7%
Gross profit5,7025,3115,197+7.4%
Gross margin73.7%72.0%57.9%
Selling, general and administrative4,0013,8593,525+3.7%
Operating income1,9741,316640+50.1%
Operating margin25.5%17.8%7.1%
Interest expense608628437-3.1%
Pre-tax income1,530782224+95.8%
Income tax242187167+29.5%
Effective tax rate15.8%23.9%74.3%
Net income1,570986111+59.2%
Net margin20.3%13.4%1.2%
Diluted EPS$6.16$3.77$0.40+63.4%
$ 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

$ millionFY2024FY2023FY2022On the yearLast 8 years
Operating cash flow3,0582,5502,244+19.9%
Capital expenditure675658616+2.5%
Free cash flow2,3831,8921,628+26.0%
Free cash flow margin30.8%25.6%18.1%
Cash from investing-174-4,361-676
Cash from financing-2,2921,840-1,377
Depreciation and amortisation1,2171,1421,662+6.6%
Share-based compensation164209163-21.4%
Buybacks1,5524182,921+271.0%
Dividends paid253260274-2.9%
Dividend per share$1.00$1.00$1.000.0%
Diluted shares, weighted255m262m276m-2.6%
Shares outstanding at period end249m260m263m-4.5%

Balance sheet

$ millionFY2024FY2023FY2022On the yearLast 8 years
Shareholders' equity22,28122,99922,304-3.1%
Non-controlling interest575280237+105.2%
Redeemable equity1615080.0-68.4%
Debt16,60117,29414,206-4.0%
Operating lease liabilities330378440-12.6%
Finance lease liabilities5.06.219.6-20.0%
Other liabilities6,9379,1057,604-23.8%
Total liabilities and equity46,89050,57044,809-7.3%
Goodwill17,02817,22723,321-1.2%
Intangible assets4,6145,2269,658-11.7%
Cash and equivalents2,3561,9071,998+23.6%
Receivables788797998-1.2%
Other assets22,10425,4148,834-13.0%
Total assets46,89050,57044,809-7.3%

10-K for the year ended 31 December 2024, filed 14 February 2025: the filing.