Fiserv (FISV)
Forward P/E is 6.48x against a peer median of 7.48x, a ratio of 0.87x — below the fair range on the lead test — with trailing P/E 9.10x and PEG 1.47. Latest-quarter revenue fell 4.1% year over year (PRIMARY, EDGAR), so the value-trap check fails: a shrinking business trading cheaply is not confirmed as undervalued, and the label is downgraded to FAIRLY PRICED. Delivered demand check: the Payments & consumer finance group's median growth was 9.3% — demand rising across the group, which makes this company's revenue decline a company-specific warning rather than a sector slump.
What would change this label: Move to UNDERVALUED if revenue growth returns above 0% year over year and toward the 9.3% cluster median while the forward P/E stays at or below about 6.73x (0.90x the peer median). Move to OVERVALUED if the forward P/E rises above about 8.60x (1.15x the peer median) without revenue growth recovering above 0% year over year.
Fiserv sells payment and banking technology, but its sales fell about 4% in the latest quarter while similar companies grew. Its shares look cheap at first glance, yet shrinking sales can be a warning sign rather than a bargain. Fairly priced is the safer call until sales start growing again.
Both lines start at 100 on 2020-09-01. Over the full window Fiserv returned -52.30% and the S&P 500 +118.28% (price returns; dividends not reinvested). Worst peak-to-trough fall for Fiserv: -81.3% (2025-03-03 to 2026-10-02). Source: Nasdaq official daily history.
What the label rests on
Forward P/E is 6.48x against a peer median of 7.48x, a ratio of 0.87x — below the fair range on the lead test — with trailing P/E 9.10x and PEG 1.47. Latest-quarter revenue fell 4.1% year over year (PRIMARY, EDGAR), so the value-trap check fails: a shrinking business trading cheaply is not confirmed as undervalued, and the label is downgraded to FAIRLY PRICED. Delivered demand check: the Payments & consumer finance group's median growth was 9.3% — demand rising across the group, which makes this company's revenue decline a company-specific warning rather than a sector slump. The company’s forward P/E is 6.5× against a peer median of 7.5×. Its own history: UNVERIFIED — no sourced range available. Sector demand read: Delivered demand check: the Payments & consumer finance group's median latest-quarter revenue growth was 9.3% year over year (SEC filings) — demand rising. Latest-quarter sales growth was -4.1% versus a year earlier (SEC filings).
| Company | Price (Oct 28, 2026) | Forward P/E | Trailing P/E |
|---|---|---|---|
| Fiserv (FISV) | $47.49 | 6.5× | 9.1× |
| CPAY | $395.00 | 13.5× | 24.1× |
| SYF | $74.99 | 7.5× | 7.9× |
| GPN | $82.10 | 5.6× | — |
| FIS | $35.77 | 5.6× | 5.5× |
| JKHY | $158.42 | 21.9× | 22.7× |
| Peer median | 7.5× |
Multiples: stockanalysis.com (SECONDARY, S&P Global data), fetched Oct 28, 2026. Peer set chosen by sector; the median is the middle value of the set. The label and its numbers were recorded in the programme’s label registry on Oct 28, 2026 and will be scored at 6 and 12 months.
Sales, profit and cash
This company does not report a gross-profit line in its SEC facts (normal for banks, payment networks and some health insurers), so profit is shown as net income instead — gross margin is marked UNVERIFIED-absent rather than estimated.
Free cash flow = cash from operations minus spending on plant and equipment, both from the company’s SEC cash-flow statement. Gaps are quarters where that spending line is not separately tagged in the filings — shown as gaps, never estimated.
| Quarter | Sales | Gross margin | Net income | EPS (GAAP, diluted) | Free cash flow |
|---|---|---|---|---|---|
| Q/E Jun 2026 2026-06-30 | $5.3B | — | $627M | 1.17 | $985M |
| Q/E Mar 2026 2026-03-31 | $5.0B | — | $571M | 1.07 | $141M |
| Q/E Dec 2025 2025-12-31 | $5.3B | — | $811M | — | $1.5B |
| Q/E Sep 2025 2025-09-30 | $5.3B | — | $792M | 1.46 | $1.3B |
| Q/E Jun 2025 2025-06-30 | $5.5B | — | $1.0B | 1.86 | $1.2B |
| Q/E Mar 2025 2025-03-31 | $5.1B | — | $851M | 1.51 | $313M |
| Q/E Dec 2024 2024-12-31 | $5.3B | — | $938M | — | $1.8B |
| Q/E Sep 2024 2024-09-30 | $5.2B | — | $564M | 0.98 | $1.8B |
| Q/E Jun 2024 2024-06-30 | $5.1B | — | $894M | 1.53 | $993M |
| Q/E Mar 2024 2024-03-31 | $4.9B | — | $735M | 1.24 | $411M |
| Q/E Dec 2023 2023-12-31 | $4.9B | — | $870M | — | $1.2B |
| Q/E Sep 2023 2023-09-30 | $4.9B | — | $952M | 1.56 | $1.2B |
The last twelve reported quarters. Full 24-quarter history sits in the data pack behind this page. A dash means the figure is not tagged as a standalone quarter in the company’s SEC facts (the usual case is the fourth quarter, which many companies only report inside the full-year filing) — it is missing, not zero.
Earnings: getting better or worse?
Each box is one quarter’s earnings per share (EPS). Green means EPS was higher than the same quarter a year earlier; red means lower; a dash means the figure is not tagged in the filings.
Basis: GAAP diluted EPS from SEC company facts, compared with the same quarter a year earlier.
Key facts
| Item | Value |
|---|---|
| Company (legal name in filings) | FISERV INC |
| Chief executive | Takis Georgakopoulos (source: https://www.fiserv.com/en/forum/speakers/takis-georgakopoulos.html) |
| Sector | Financials — Transaction & Payment Processing Services — provides payments and financial technology to banks, credit unions and merchants |
| Share price (Oct 28, 2026) | $47.49 |
| Market value (market cap) | $25.2B — share price times shares outstanding of 531,766,721 (SEC filings; SEC EDGAR dei EntityCommonStockSharesOutstanding (latest)) |
| Sales, last twelve months | $20.9B |
| Net income, last twelve months | $2.8B |
| Free cash flow, last twelve months | $3.9B |
| Latest reported quarter | Q/E Jun 2026 (of 24 quarters in the data pack) |
| Six-year price return vs S&P 500 | -52.30% vs +118.28% |
| Worst peak-to-trough fall | -81.3% (2025-03-03 to 2026-10-02) |
What we could not verify
- Gross profit / gross margin: not tagged as a standalone line in this company's EDGAR company facts (common for banks, payment networks and some healthcare payers) — shown as UNVERIFIED-absent; the page charts revenue and net income instead.
- TTM GAAP diluted EPS could not be summed from company facts because at least one of the last four quarters (typically Q4) has no standalone tagged EPS; trailing P/E is therefore taken from the labelled secondary source in valuation_label.md.
- Own-history P/E range not yet compiled for this company in the Phase 1 batch run; the label rests on peer-median, growth and PEG evidence.
- Guidance record (each quarter scored against the guidance the company gave the quarter before) is not yet compiled for this company — it is a Phase 2 layer. The earnings strip below therefore uses reported EPS versus a year earlier, which is fully sourced from filings.
The IT factor — the most exciting thing the market is overlooking — is not assessed on an X-Ray page. It belongs to the Deep Dive (Phase 2), where it gets the evidence standard it needs. Leadership-era scoring (the six years split by chief executive) is likewise a Phase 2 layer; this page names the current chief executive only, from a sourced profile.
Sources
- SEC EDGAR submissions — Filing index; company legal name.
https://data.sec.gov/submissions/CIK0000798354.json - SEC EDGAR company facts — Quarterly financial spine: revenue, gross profit, net income, GAAP diluted EPS, operating cash flow, PP&E capex, buybacks, dividends, diluted shares.
https://data.sec.gov/api/xbrl/companyfacts/CIK0000798354.json - Nasdaq official daily history — Daily closes for the company; SPY (assetclass=etf) saved as raw/nasdaq_spy_raw.json over identical dates.
https://api.nasdaq.com/api/quote/FISV/historical?assetclass=stocks - Valuation multiples and peer figures — stockanalysis.com (SECONDARY, S&P Global data), fetched Oct 28, 2026; see valuation_label.md in the data pack.
Conventions: earliest-filed value per period, as first reported; cash-flow years-to-date differenced quarter by quarter; EPS never differenced; free cash flow = operating cash flow minus plant-and-equipment spending. This page is a dated snapshot — updates are new versions, never silent edits.