EVERTEC

EVTC · NYSE · Financials · Financials, fiscal 2016 to 2025

EVTC · Last close · November 6, 2026

$33.55

EVERTEC's revenue rose 10.2% to $932 million in fiscal 2025. Its operating margin was 20.0%, up from 19.6% a year earlier. Free cash flow was $204 million, down 13.2%. It paid out $82 million in dividends and buybacks, 40% of free cash flow. The diluted share count fell 1.0%.

EVERTEC, Inc. Latest fiscal year ended December 31, 2025 10-K filed March 2, 2026 · 0001559865-26-000012 Updated November 5, 2026

Revenue

$932M

10.2%

Operating margin

20.0%

0.4 pts

Net income

$142M

25.7%

Free cash flow

$204M

13.2%

Return on capital

13.7%

0.6 pts

Market cap

$2.0B

Nov 6 close

P/E

22.1x

On $1.52 EPS, 4 qtrs

Operating margin is operating income as a share of revenue. Free cash flow is cash from operations minus capital spending. Return on capital is after-tax operating income as a share of the money invested in the business: debt plus equity, minus cash. Market cap is the last closing share price times the latest diluted share count, so it is approximate. P/E is the last close divided by diluted earnings per share over the last four quarters, or the latest fiscal year where the quarters aren't available; there is none when the company made a loss.

Charts show fiscal years, from the 10-K filings.

What EVERTEC does

EVERTEC processes electronic payments and provides financial technology in Puerto Rico, the Caribbean and Latin America. Its customers are banks, merchants, corporations and government agencies. It runs payment networks, including the ATH debit network, and offers services such as core banking software, cash processing and fraud monitoring.

It reports four segments: Payment Services in Puerto Rico and the Caribbean, Latin America Payments and Solutions, Merchant Acquiring, and Business Solutions. Merchant acquiring means handling card payments for stores. Most revenue in the first three segments, and in much of Business Solutions, recurs, because customers pay for ongoing processing. A smaller part comes from one-time projects and license sales.

EVERTEC says it is one of the largest merchant acquirers in Latin America and the largest in the Caribbean. Its headquarters is in Puerto Rico.

Its biggest risks, as it describes them

Losing merchant relationships or its alliance with Popular.
Not renewing client contracts on good terms.
Failures in its systems, or in the suppliers and staff it depends on.
Fraud by merchants, and merchants who cannot pay obligations it may also be liable for.
Rapid technology change that could make its products less competitive.

From EVERTEC's annual report on Form 10-K, filed March 2, 2026, in our words; the 10-K has the full description and every risk factor. Updated with each new annual report.

Income statement

Revenue and net income

US$ billions, fiscal years; net losses in red. Revenue on the left axis, net income on the right; zero is the same line on both.

Revenue (left axis)Net income (right axis)

Gross profit, R&D and operating income

US$ billions, fiscal years. Gross profit is revenue minus the cost of what was sold; research and development is one of the costs paid from it; what remains after all operating costs is operating income. Losses in red.

Gross profitResearch and developmentOperating income

Margins

Percent of revenue

GrossOperatingNetFree cash flow

From fiscal 2016 to 2025, earnings per share grew 9.0% a year and net income 7.3% a year, as buybacks cut the share count by 14%.

Diluted earnings per share

US$ per share, fiscal years, restated for any stock splits; loss years in red.

Returns on capital

Return on capital and on equity

Percent. Return on capital is after-tax operating income over the money invested in the business (debt plus equity, minus cash); return on equity is net income over shareholders' equity. Both use the average of opening and closing balances.

Return on capitalReturn on equity

Balance sheet

Cash and debt

US$ billions, at each fiscal year end. Debt includes finance leases.

Cash and short-term investmentsDebt

Assets, liabilities and equity

US$ billions, at each fiscal year end. Assets equal liabilities plus equity; negative equity in red.

Total assetsTotal liabilitiesShareholders' equity

Debt and liquidity ratios

Times. Debt to equity, current assets over current liabilities, and net debt over EBITDA (a full year's).

Debt to equityCurrent ratioNet debt to EBITDA

Five years at a glance

Fiscal year end	FY21	FY22	FY23	FY24	FY25
Cash and short-term investments	258	185	296	274	306
Debt incl. finance leases	465	430	978	949	1,087
Net debt (negative means net cash)	207	245	682	675	781
Net debt to EBITDA	1.0x	1.4x	4.3x	3.6x	3.7x
Debt to equity	1.0x	0.9x	1.6x	2.0x	1.8x
Interest coverage	8.6x	6.3x	4.2x	2.2x	2.7x
Current ratio	2.9x	1.9x	1.9x	1.9x	2.1x
Quick ratio	2.9x	1.9x	1.9x	1.9x	2.1x

US$ millions unless stated, at each fiscal year end. Net debt to EBITDA is debt minus cash, divided by operating income before depreciation and amortization: roughly how many years of those earnings the net debt equals. Debt to equity is debt as a multiple of shareholders' equity. Interest coverage is operating income divided by interest expense. The current ratio is current assets over current liabilities; the quick ratio leaves out inventory.

Cash flow

Cash from operations, capital spending and free cash flow

US$ billions, fiscal years. Free cash flow is cash from operations minus capital spending; negative years in red.

Cash from operationsCapital spendingFree cash flow

Stock-based compensation and buybacks

US$ billions, fiscal years. Shares paid to employees (stock-based compensation, a cost that uses no cash) against cash spent buying shares back. Buybacks that only match it leave the share count roughly where it was.

Stock-based compensationShare buybacks

Dividends and buybacks

US$ billions, cash paid in each fiscal year

DividendsShare buybacks

Diluted share count

Weighted-average diluted shares, millions

Projections

Project EVERTEC's revenue, net income and earnings per share five years ahead in a bull, a base and a bear case with your own figures, and see the share prices your P/E estimates give them, or value it with a discounted cash flow model. Every projected figure is yours: it is not a forecast of ours.

Open EVERTEC's projections

Insider trades

Over the 12 months between November 7, 2025 and November 6, 2026, 5 insiders bought $2.3 million of EVERTEC shares on the open market, and 4 insiders sold $6.6 million.

Buys and sells by month

US$ millions, open-market purchases (up) and sales (down) by officers, directors and 10% owners in each month.

BoughtSold

Date	Insider	Trade	Shares	Price	Value	Filing
Nov 4, 2026	Morgan M SchuesslerPresident & CEO, Director	Sold	145,000	$34.77	$5.0 million	Form 4
Sep 3, 2026	Aldo J. PolakDirector	Sold	1,094	$30.37	$33,225	Form 4
Aug 28, 2026	Aldo J. PolakDirector	Sold	1,000	$30.09	$30,090	Form 4
Aug 21, 2026	Aldo J. PolakDirector	Sold	1,000	$29.80	$29,800	Form 4
Aug 14, 2026	Paola Perez-SurilloExecutive Vice President	Sold	17,486	$31.56	$551,858	Form 4
Aug 12, 2026	Diego VigliancoEVP & CIO	Sold	27,570	$30.32	$835,922	Form 4
Aug 11, 2026	Aldo J. PolakDirector	Sold	1,000	$29.50	$29,500	Form 4
Jun 12, 2026	Brian John SmithDirector	Bought	16,202	$26.42	$428,057	Form 4
May 11, 2026	Miguel VizcarrondoExecutive Vice President	Bought	21,000	$23.37	$490,770	Form 4
May 8, 2026	Frank G. D'AngeloDirector	Bought	20,000	$23.40	$468,000	Form 4
May 8, 2026	Joaquin A. Castrillo-SalgadoSenior EVP & COO	Bought	20,000	$22.74	$454,706	Form 4
May 7, 2026	Luis A Rodriguez-GonzalezGeneral Counsel & EVP	Bought	17,000	$24.10	$409,700	Form 4

Open-market purchases and sales by officers, directors and 10% owners, from their Form 4 filings with the SEC: one row per person, day and filing, at the day's average price. Grants, option exercises and shares withheld for tax aren't counted. Insiders buy and sell for many reasons, such as taxes, spreading their savings or a plan set up months earlier, so a trade on its own says little about where a company is heading. For information only, not investment advice. Insider trades at all companies

Indicators

Four widely used measures, worked out from the company's filings. The cutoffs are the ones their authors or users go by, not a verdict of ours.

Indicator	FY23	FY24	FY25
Piotroski F-score	6 of 8	6 of 8	7 of 8
Rule of 40	39.6%	49.5%	32.1%
Altman Z''	2.58	2.91	2.88
Accruals ratio	−8.2%	−7.5%	−4.2%

Piotroski F-score: how many of nine simple tests of profitability, funding and efficiency the company passed in the year (Piotroski, 2000); 8 or 9 is strong, 0 to 2 weak. Rule of 40: revenue growth plus free cash flow margin; software investors treat 40% or more as the bar. Altman Z'': working capital, retained earnings, operating income and equity weighed against assets and liabilities (Altman, 1995); Altman puts above 2.6 in the safe zone and below 1.1 in the distress zone. Accruals ratio: net income minus cash from operations, over average total assets; lower means profit is backed by cash.

The nine F-score tests

Test	FY23	FY24	FY25
Net income is positive	Pass	Pass	Pass
Cash from operations is positive	Pass	Pass	Pass
Return on assets rose	Fail	Fail	Pass
Cash from operations exceeds net income	Pass	Pass	Pass
Debt fell relative to assets	Fail	Pass	Fail
Current ratio rose	Pass	Pass	Pass
Share count didn't rise	Pass	Pass	Pass
Gross margin rose	—	—	—
Revenue rose relative to assets	Pass	Fail	Pass
F-score	6 of 8	6 of 8	7 of 8

Companies that report no gross profit are scored on the other eight.

Compare

Put EVERTEC side by side with any other company we cover: revenue, growth, margins, cash flow and returns, with ten years of charts.

Similar companies

Company	Year	Revenue growth	Operating margin	Free cash flow margin	Return on capital	Net debt to EBITDA	F-score	Compare
EVERTEC	FY25	10.2%	20.0%	21.9%	13.7%	3.7x	7
Payoneer Global	FY25	7.7%	11.8%	19.6%	—	—	—	Compare
Remitly	FY25	29.4%	4.7%	18.1%	18.7%	−3.8x	6	Compare
Paysafe	FY25	−0.2%	4.2%	13.1%	1.9%	6.8x	5	Compare
Sezzle	FY25	66.1%	39.3%	46.5%	—	—	—	Compare

Each company's latest fiscal year. Fiscal years end in different months, so the periods don't line up exactly. Free cash flow margin is free cash flow as a share of revenue. Net debt to EBITDA is explained under the balance sheet, and the F-score under Indicators.

10 years of figures

Fiscal year	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Income statement
Revenue	390	407	454	487	511	590	618	695	846	932
Revenue growth	4.3%	4.5%	11.5%	7.4%	4.8%	15.5%	4.8%	12.3%	21.7%	10.2%
Gross profit	387	404	—	—	—	—	—	—	—	—
Research and development	—	—	—	—	—	—	—	—	—	—
Operating income	107	86	125	144	141	196	157	136	166	186
Net income	75	55	86	104	104	161	239	80	113	142
Diluted EPS (US$)	1.01	0.76	1.16	1.41	1.43	2.21	3.45	1.21	1.73	2.20
Diluted shares (millions)	74	73	74	74	73	73	69	66	65	64
Cash flow
Cash from operations	168	146	173	180	199	228	220	211	260	227
Capital expenditure	18	11	14	23	17	25	27	21	25	23
Free cash flow	150	134	159	157	182	203	193	190	235	204
Dividends paid	30	22	7	14	14	14	14	13	13	13
Share buybacks	40	8	10	32	7	24	97	36	82	69
Acquisitions	16	43	0	6	0	0	44	418	34	144
Stock-based compensation	6	10	13	14	14	15	20	26	30	30
Balance sheet at fiscal year end
Cash and short-term investments	52	50	70	111	203	258	185	296	274	306
Debt incl. finance leases	679	629	539	528	497	465	430	978	949	1,087
Total assets	886	903	927	1,012	1,073	1,145	1,132	2,060	1,858	2,243
Total liabilities	778	755	712	740	730	674	657	1,425	1,338	1,529
Shareholders' equity	105	144	212	267	338	466	472	594	472	622
Margins and ratios
Gross margin	99.4%	99.3%	—	—	—	—	—	—	—	—
Operating margin	27.5%	21.1%	27.6%	29.6%	27.7%	33.3%	25.4%	19.6%	19.6%	20.0%
Net margin	19.3%	13.5%	19.0%	21.2%	20.4%	27.3%	38.6%	11.5%	13.3%	15.2%
Free cash flow margin	38.4%	33.0%	35.0%	32.2%	35.6%	34.5%	31.2%	27.3%	27.8%	21.9%
Rule of 40 (growth + FCF margin)	42.7%	37.6%	46.5%	39.6%	40.4%	50.0%	36.0%	39.6%	49.5%	32.1%
Return on capital	13.0%	10.8%	15.5%	18.7%	18.1%	26.5%	20.1%	12.7%	13.1%	13.7%
Return on equity	74.0%	44.3%	48.5%	43.2%	34.5%	40.1%	51.0%	15.0%	21.1%	25.9%
Return on assets	8.6%	6.2%	9.4%	10.7%	10.0%	14.5%	21.0%	5.0%	5.8%	6.9%
Net debt to EBITDA	5.2x	5.7x	3.4x	2.6x	1.9x	1.0x	1.4x	4.3x	3.6x	3.7x

US$ millions unless stated. Where a later 10-K restated a year, the latest filed figure is shown. Download all figures (CSV, US$ millions)

Source: EVERTEC's Form 10-K filings, from SEC EDGAR. For information only, not investment advice. The Filing Desk is not affiliated with EVERTEC.