Fiserv vs Visa
Visa reported revenue of $40.0 billion in fiscal 2025, 1.9 times Fiserv's $21.2 billion in fiscal 2025. Fiserv's revenue grew 3.6% in its latest year, and Visa's grew 11.3%. Fiserv had an operating margin of 27.4%, against 60.0% at Visa. Free cash flow was $4.3 billion at Fiserv and $21.6 billion at Visa. Their fiscal years end in different months (December 31 and September 30), so the periods don't line up exactly.
Side by side
| Fiserv | Visa | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Sep 30, 2025 |
| Revenue | $21.2B | $40.0B |
| Revenue growth | 3.6% | 11.3% |
| Revenue growth a year, last 5 years | 7.4% | 12.9% |
| Gross margin | — | — |
| Operating margin | 27.4% | 60.0% |
| Net margin | 16.4% | 50.1% |
| Free cash flow | $4.3B | $21.6B |
| Free cash flow margin | 20.3% | 53.9% |
| Return on capital | 8.9% | 42.4% |
| Net debt to EBITDA | 3.2x | 0.3x |
| Dividends and buybacks | $0M | $22.9B |
| Change in diluted share count | −5.7% | — |
| Last close | $48.33 | $404.16 |
| P/E at the last close | 9.3× | — |
| Insider trades, last 12 months | bought $4.5 million, sold $0 | sold $86.3 million |
| Piotroski F-score | 6 of 8 | — |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
FiservVisa
Operating margin
Percent of revenue
FiservVisa
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
FiservVisa