Global Payments
GPN · NYSEServices-Business Services, NEC · Fiscal year ends Dec 31
Global Payments reported revenue of $7.7B in the fiscal year ended Dec 2025, down 0.4% from the year before. Operating income was $1.8B, an operating margin of 22.8%, and net income was $1.4B. Operating cash flow of $2.7B less capital expenditure of $618M left free cash flow of $2B. Net debt was $13.2B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $8.5B | $9B | $7.4B | $7.7B | $7.7B |
| Cost of revenue | $3.8B | $3.8B | $2.1B | $2B | $2.1B |
| Gross profit | $4.8B | $5.2B | $5.3B | $5.7B | $5.6B |
| Selling, general & admin | $3.4B | $3.5B | $3.9B | $4B | $4.1B |
| Operating income | $1.4B | $640M | $1.3B | $2B | $1.8B |
| Interest expense | $328M | $437M | $628M | $608M | $634M |
| Pre-tax income | $1B | $224M | $782M | $1.5B | $1.3B |
| Income tax | $169M | $167M | $187M | $242M | $252M |
| Net income | $965M | $111M | $986M | $1.6B | $1.4B |
| Diluted EPS | 3.29 | 0.40 | 3.77 | 6.16 | 5.78 |
| Diluted shares | 294M | 276M | 262M | 255M | 242M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $2B | $2B | $2.1B | $2.4B | $8.3B |
| Receivables | $946M | $998M | $1.1B | $788M | $784M |
| Current assets | $4.7B | $6.3B | $8.1B | $6B | $12.6B |
| Goodwill | $24.8B | $23.3B | $26.7B | $17B | $17.1B |
| Total assets | $45.3B | $44.8B | $50.6B | $46.9B | $53.3B |
| Deferred revenue | $228M | $226M | $184M | $202M | $177M |
| Current liabilities | $4.5B | $6.9B | $8.1B | $6.3B | $7.5B |
| Long-term debt | $11.4B | $13.5B | $16.4B | $16.3B | $21.6B |
| Total liabilities | $19.4B | $22.3B | $26.8B | $23.9B | $29.6B |
| Shareholders' equity | $25.6B | $22.3B | $23B | $22.3B | $22.9B |
| Backlog (remaining obligations) | $3.6B | $3.6B | $3.8B | $3.7B | $880M |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $2.8B | $2.2B | $2.5B | $3.1B | $2.7B |
| Capital expenditure | $493M | $616M | $658M | $675M | $618M |
| Free cash flow | $2.3B | $1.6B | $1.9B | $2.4B | $2B |
| Depreciation & amortisation | $1.7B | $1.7B | $1.1B | $1.2B | $1.2B |
| Stock-based compensation | $181M | $163M | $209M | $164M | $154M |
| Acquisitions | $1.8B | $66M | $4.2B | $487M | $352M |
| Share buybacks | $2.5B | $2.9B | $418M | $1.6B | $1.2B |
| Dividends paid | $260M | $274M | $260M | $253M | $239M |
| Dividend per share | 0.89 | 1.00 | 1.00 | 1.00 | 1.00 |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 5.3% | −17.8% | 4.8% | −0.4% |
| Operating income growth (YoY) | – | −52.9% | 105.5% | 50.1% | −11.1% |
| EPS growth (YoY) | – | −87.8% | 842.5% | 63.4% | −6.2% |
| Gross margin | 55.7% | 57.9% | 72.0% | 73.7% | 72.6% |
| Operating margin | 15.9% | 7.1% | 17.8% | 25.5% | 22.8% |
| Net margin | 11.3% | 1.2% | 13.4% | 20.3% | 18.2% |
| Return on equityBlank when equity is negative | 3.8% | 0.5% | 4.3% | 7.0% | 6.1% |
| ROCEEBIT ÷ (assets − current liabilities) | 3.3% | 1.7% | 3.1% | 4.9% | 3.8% |
| Free cash flow margin | 26.8% | 18.1% | 25.6% | 30.8% | 26.5% |
| Cash conversion (CFO ÷ net income) | 2.88x | 20.1x | 2.59x | 1.95x | 1.90x |
| Receivable days | 41 | 41 | 55 | 37 | 37 |
| Interest cover | 4.14x | 1.46x | 2.10x | 3.25x | 2.77x |
| Debt ÷ equity | 0.45x | 0.61x | 0.71x | 0.73x | 0.94x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $9.4B | $11.5B | $14.3B | $14B | $13.2B |
| Current ratio | 1.06x | 0.92x | 0.99x | 0.96x | 1.69x |
Recent filings
More in Services-Business Services, Nec
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.