NASDAQ · FISV

Fiserv, Inc.

Technology · Information Technology Services

$49.45▼ 1.14% ($0.57)at close

As of 4:00 PM ET

52-week

$47.04$238.59

Market cap

$26.37B

P/E

What the market price implies · Reverse DCF

To support a price of $49.45, this model requires revenue to grow by -2.53%/yr over the next 10 years, compounded annually.

Historical revenue grew by 6.9%/yr over the past 4 years. The required annual growth rate is 9.43 percentage points lower.

Selected forecast · Base scenario

2.13%/yr · actual 10-year annualized revenue growth

Year 1 growth: 3.33%

Market-implied · Base operating assumptions + edited margins

-2.53%/yr · flat 10-year annualized revenue growth

Reverse DCF solves revenue growth itself using Base operating assumptions and your edited margins. Changing forecast growth alone does not change the implied rate. This is a model-implied requirement, not an analyst forecast.

Valuation

Recommended · Revenue & margin DCF

Price used

$49.45

Estimated value / share

$93.67

Base scenario

This estimate is 89.43% above the price used.

USD · TTM ending 2026-06-30

Year 1 growth 3.33% · Ending margin 21.37% · Discount rate 6.88%

Assumption scenarios, not statistical confidence intervals.

Method, dates & sources

Estimated from future revenue, operating margins, and the investment needed to support them.

Price timestamp: Sep 16, 2026, 8:00 PM UTC
Financial statement period: TTM ending 2026-06-30
Data refreshed: Sep 17, 2026, 6:18 AM UTC · provider

Why this method?

FCFF is positive, but the series is too unstable to anchor a direct cash-flow CAGR and the business still fails the steady-state comparability checks. Use a revenue-and-margin transition model instead of normalizing and compounding current FCFF.

Is FCFF positive and has it been for 3+ consecutive years? 30 consecutive positive FCFF years are available.

Is FCFF stable (not swinging >30% year to year)? The largest recent FCFF swing is 30.3%.

Do you have 5+ years of positive FCFF history? 30 consecutive positive FCFF years are available.

Is the business model structurally similar to what it should be in 10 years? Operating margin moved 14.6 percentage points across the last five years, above the 10.0-point stability threshold, so steady-state FCFF is not a reliable anchor yet.

Price vs Fundamentals

Why The Stock Is Moving

Likely fundamental deteriorationHigh confidence

1Y Price: -62.75%Revenue (TTM): -1.17%FCF (TTM): -23.87%P/FCF: 3rd pct

What changed

The stock fell 62.75% over the last year. Revenue declined 1.17% over the trailing twelve months. Operating margin moved from 30.13% to 21.37%. Free cash flow declined 23.87% over the trailing twelve months.

What the market seems to be pricing

The market is reacting to weaker business momentum more than just compressing the valuation multiple. Even if the shares already screen cheap on P/FCF, investors are still discounting lower future earnings power.

What would invalidate this read

Operating margin stands at 21.37%. Revenue declined 1.17% — this read reverses if that trend stabilizes. Free cash flow fell 23.87% — a return toward positive territory would undermine the deterioration thesis. If margins and cash flow stabilize while the stock stays depressed, the gap shifts from fundamental damage toward pure multiple compression.

Performance

Return analysis

Company profile

Fiserv, Inc. is a global provider of technology solutions for payments and financial services.

CEOTakis Georgakopoulos

SectorTechnology

IndustryInformation Technology Services

Employees38,000

IPO dateSep 25, 1986

https://www.fiserv.com

Market multiples

Forward P/E—

EV/EBITDA7.28

Enterprise value$65.2B

Stock splits

Mar 20, 2018↑ Forward

Every 1 shares became 2

+100%

Dec 17, 2013↑ Forward

Every 1 shares became 2

+100%

Sep 4, 2001↑ Forward

Every 2 shares became 3

+50%

May 3, 1999↑ Forward

Every 2 shares became 3

+50%

Jun 1, 1998↑ Forward

Every 2 shares became 3

+50%

May 3, 1993↑ Forward

Every 2 shares became 3

+50%

Jun 1, 1992↑ Forward

Every 2 shares became 3

+50%

Jul 2, 1991↑ Forward

Every 2 shares became 3

+50%

Profitability & growth

Revenue growth-4.06%

Gross margin (FY2025)59.36%▼1.5ppvs FY2024

Operating margin (FY2025)26.89%▼1.9ppvs FY2024

ROE10.75%▼2.4ppvs FY2025

Analyst consensus

RatingBuy

Target price$62.46▲26.31%

Buy

Hold

Sell

Analyst ratings tend to be lagging indicators. Use as one signal among many.

Earnings

Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.

Next report

Oct 28, 2026

Q4 FY26 · EPS est $1.73 · Revenue est $4.86B

View

NASDAQ · FISV

Fiserv, Inc.

Technology · Information Technology Services

$49.45▼ 1.14% ($0.57)at close

As of 4:00 PM ET

52-week

$47.04$238.59

Market cap

$26.37B

P/E

What the market price implies · Reverse DCF

To support a price of $49.45, this model requires revenue to grow by -2.53%/yr over the next 10 years, compounded annually.

Historical revenue grew by 6.9%/yr over the past 4 years. The required annual growth rate is 9.43 percentage points lower.

Selected forecast · Base scenario

2.13%/yr · actual 10-year annualized revenue growth

Year 1 growth: 3.33%

Market-implied · Base operating assumptions + edited margins

-2.53%/yr · flat 10-year annualized revenue growth

Valuation

Recommended · Revenue & margin DCF

Price used

$49.45

Estimated value / share

$93.67

Base scenario

This estimate is 89.43% above the price used.

USD · TTM ending 2026-06-30

Year 1 growth 3.33% · Ending margin 21.37% · Discount rate 6.88%

Assumption scenarios, not statistical confidence intervals.

Method, dates & sources

Estimated from future revenue, operating margins, and the investment needed to support them.

Price timestamp: Sep 16, 2026, 8:00 PM UTC
Financial statement period: TTM ending 2026-06-30
Data refreshed: Sep 17, 2026, 6:18 AM UTC · provider

Why this method?

Is FCFF positive and has it been for 3+ consecutive years? 30 consecutive positive FCFF years are available.

Is FCFF stable (not swinging >30% year to year)? The largest recent FCFF swing is 30.3%.

Do you have 5+ years of positive FCFF history? 30 consecutive positive FCFF years are available.

Price vs Fundamentals

Why The Stock Is Moving

Likely fundamental deteriorationHigh confidence

1Y Price: -62.75%Revenue (TTM): -1.17%FCF (TTM): -23.87%P/FCF: 3rd pct

What changed

What the market seems to be pricing

What would invalidate this read

Performance

Return analysis

Company profile

Fiserv, Inc. is a global provider of technology solutions for payments and financial services.

CEOTakis Georgakopoulos

SectorTechnology

IndustryInformation Technology Services

Employees38,000

IPO dateSep 25, 1986

https://www.fiserv.com

Market multiples

Forward P/E—

EV/EBITDA7.28

Enterprise value$65.2B

Stock splits

Mar 20, 2018↑ Forward

Every 1 shares became 2

+100%

Dec 17, 2013↑ Forward

Every 1 shares became 2

+100%

Sep 4, 2001↑ Forward

Every 2 shares became 3

+50%

May 3, 1999↑ Forward

Every 2 shares became 3

+50%

Jun 1, 1998↑ Forward

Every 2 shares became 3

+50%

May 3, 1993↑ Forward

Every 2 shares became 3

+50%

Jun 1, 1992↑ Forward

Every 2 shares became 3

+50%

Jul 2, 1991↑ Forward

Every 2 shares became 3

+50%

Profitability & growth

Revenue growth-4.06%

Gross margin (FY2025)59.36%▼1.5ppvs FY2024

Operating margin (FY2025)26.89%▼1.9ppvs FY2024

ROE10.75%▼2.4ppvs FY2025

Analyst consensus

RatingBuy

Target price$62.46▲26.31%

Buy

Hold

Sell

Analyst ratings tend to be lagging indicators. Use as one signal among many.

Earnings

Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.

Next report

Oct 28, 2026

Q4 FY26 · EPS est $1.73 · Revenue est $4.86B

View