Global Payments Inc. (GPN) financials

NYSE · Financial Services · Financial - Credit Services · 26,000 employees · CEO Cameron Bready

Price: $96.84 +12.97%
Market cap: $25.6B
Enterprise value: $42.6B
Last report: Q2 '26 filed 2026-08-05
Next report: 2026-11-05

Revenue (TTM)$10.2B+14.8% vs a year agoLast 4 quarters; bars = each quarter

Operating margin (TTM)11.9%-13.0 pp vs a year agoOperating income $1.21B

Net income (TTM)-$956M-166.9% vs a year agoAfter tax, incl. non-operating gains

Free cash flow (TTM)$823M-72.0% vs a year agoCapex $835M

Diluted EPS (TTM)-$3.89-168.0% vs a year agoSum of the last 4 quarters

Net cash-$17B-21.2% vs a year agoCash + short-term investments - debt

Valuation & key figures

Market cap: $25.6B
Revenue: $10.2B
Revenue growth: –
Profit margin: -9.4%
P/E: -24.8×
P/S: 2.5×
EV / EBITDA: 10.9×
Free cash flow: $823M
Net income: -$956M
Revenue estimate: –
Earnings: 2026-11-05
Dividend: $1.00

Key takeaways

Computed from the reported numbers - every statement carries the figure it rests on.

Revenue growth accelerating: 69.7% year on yearQ2 '26 revenue $3.32B, against an average of -0.4% over the four quarters before.
Operating margin 11.9% (TTM), -13.0 pp on a year agoOperating income grew -45.3% while revenue grew 14.8%.
70.6% of pre-tax profit is eaten by non-operating lossesPre-tax income $708M vs operating income $1.21B (TTM). Losses on equity stakes and other one-off items cut net income and EPS - operating income is the cleaner measure of the business.
Capex 8.2% of revenue (a year ago 7.1%)$835M invested in the last 4 quarters (+32.5% on a year earlier). Free cash flow $823M.
Returned $1.39B to shareholders = 169.1% of free cash flowBuybacks $1.14B (a year earlier $1.39B), dividends $252M, stock-based pay $92.5M (TTM). More than the free cash flow: paid from cash or debt.
Diluted share count up 6.3% in a year259M diluted shares in Q2 '26, 244M a year earlier.
Net debt $17BCash + short-term investments $5.41B, debt incl. leases $22.4B; a year ago net debt $14B.
Enterprise Segment: revenue +462.5%, margin 29.5% (was 56.6%)Fastest-growing reported segment in Q2 '26: operating income $248M on revenue $838M (from the segment note of the filing).

Last quarter: Q2 '26

Quarter ended 2026-06-30. Compared with the same quarter a year earlier and with the analyst consensus before the report.

Quarter vs a year ago

	Q2 '26	Year ago	Change
Revenue	$3.32B	$1.96B	+69.7%
Gross margin	61.0%	74.5%	-13.5 pp
Operating income	$337M	$561M	-39.9%
Operating margin	10.2%	28.7%	-18.5 pp
Net income	-$8.71M	$242M	-103.6%
Diluted EPS	$0.05	$0.99	-94.9%
Operating cash flow	$663M	$818M	-18.9%
Capex	$236M	$152M	+54.9%
Free cash flow	$427M	$665M	-35.8%
R&D	$0	$0	–
Stock-based compensation	$57.2M	$39.8M	+43.7%

Revenue

Where the money comes from - by business line and by region, quarter by quarter.

Revenue, operating income and growth

quarterly

Revenue by business line

stacked, quarterly

Segment	Q1 '26	y/y	Share	TTM	TTM y/y	12 quarters
Merchant Solutions Segment	$2.97B	+64.2%	100.0%	–	–
Issuer Solutions Segment	–	–	–	–	–

Revenue by region

share of total

Segment	Q1 '26	y/y	Share	TTM	TTM y/y
Merchant Solutions Segment	–	–	–	–	–
North America Segment	–	–	–	–	–
Small and Medium-Sized Businesses Segment	$1.17B	–	100.0%	–	–
Europe	–	–	–	–	–
Asia Pacific	–	–	–	–	–

Segment profits

Operating income per reported segment, read from the segment note of each 10-Q / 10-K (the profit split most data feeds leave out).

Segments in Q2 '26

Segment	Revenue	y/y	Operating income	y/y	Margin	Margin a year ago	TTM operating income
Merchant Solutions Segment	–	–	–	–	–	–	–
Small And Medium Sized Businesses Segment	$1.65B	+23.7%	$628M	-6.1%	38.1%	50.2%	–
Enterprise Segment	$838M	+462.5%	$248M	+193.7%	29.5%	56.6%	–
Platforms Segment	$653M	+126.8%	$193M	+60.3%	29.5%	41.8%	–
Issuer Solutions Segment	–	–	–	–	–	–	–
Consumer Solutions Segment	–	–	–	–	–	–	–
Corporate (unallocated)	–	–	–	–	–	–	–

Operating income by segment

quarterly

Segment operating margin

quarterly

Fourth quarters are derived: the 10-K reports the full year, minus the three quarters of the 10-Qs.

Margins & cost structure

How much of each unit of revenue is left at each level - and where the costs go.

Margins

quarterly

Costs as % of revenue

quarterly

Cash flow & capital allocation

Cash generated, what it is spent on, and what reaches shareholders.

Operating cash flow, capex, free cash flow

quarterly

Uses of cash vs operating cash flow

fiscal years

Last 4 quarters

cash flow statement

Operating cash flow: $1.66B
Capex: -$835M
Buybacks: -$1.14B
Dividends: -$252M
Acquisitions: -$1.52B
Net debt issued: -$2.86B
Stock-based compensation: $92.5M
Free cash flow: $823M
Returned to shareholders / FCF: 169.1%

Share count and EPS

quarterly, diluted

Balance sheet

Liquidity, investments and debt at each quarter end.

Cash, investments and debt

quarter ends

Valuation & returns

Today's multiples against the company's own last five fiscal years; analyst targets and ratings.

Multiples and returns

TTM vs 5 fiscal years

	Now	5y average	Where today sits in the 5-year range
P/E (TTM)	-24.8×	69.6×	13.3× – 242.2×
EV / EBITDA	10.9×	13.2×	9.3× – 17.1×
EV / Sales	4.2×	4.7×	4.2× – 5.8×
Price / FCF	31.1×	14.8×	9.1× – 20.8×
Price / Book	1.1×	1.3×	0.8× – 1.5×
FCF yield	3.2%	7.5%	4.8% – 11.0%
Return on invested capital	1.9%	3.4%	2.3% – 4.6%
Return on equity	-4.1%	4.3%	0.5% – 7.0%

Analysts

Consensus target $102.88 (+6.2%)
range $80.00 – $137.00 · rating Buy

Strong buy0

Buy38

Hold21

Sell4

Strong sell0

Financial statements

Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.

Income statementRevenue, costs, operating income, net income and EPSOpen Balance sheetCash, investments, assets, debt, liabilities and equityOpen Cash flowOperating cash flow, capex, free cash flow, buybacks and dividendsOpen

Every reported line

All 310 figures Global Payments Inc. tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).

Line (SEC label)	Latest quarter	Year ago	y/y	Latest FY	Prior FY	y/y
Accelerated Share Repurchases, Final Price Paid Per Share	$0.002025-09-30	$0.00	–	$200.712021-12-31	–	–
Accounts Payable and Accrued Liabilities, Current	$3.71B	$2.18B	+69.7%	$2.66B	$2.84B	-6.2%
Accounts Payable, Trade, Current	$278M2025-12-31	$254M	+9.4%	$278M	$254M	+9.4%
Accounts Receivable, after Allowance for Credit Loss, Current	$1.58B	$864M	+82.4%	$784M	$788M	-0.4%
Accounts Receivable, Allowance for Credit Loss	$50.2M2025-12-31	$24M	+109.2%	$50.2M	$24M	+109.2%
Accounts Receivable, Credit Loss Expense (Reversal)	–	–	–	$27.2M	$25.8M	+5.4%
Accrual for Taxes Other than Income Taxes, Current	$73M2025-12-31	$58.6M	+24.5%	$73M	$58.6M	+24.5%
Accrued Income Taxes, Current	$2.45B	–	–	$118M	$208M	-43.4%
Accrued Professional Fees, Current	$29.1M2025-12-31	$15.6M	+86.6%	$29.1M	$15.6M	+86.6%
Accrued Sales Commission, Current	$89.1M2025-12-31	$86.9M	+2.5%	$89.1M	$86.9M	+2.5%
Accumulated Other Comprehensive Income (Loss), Net of Tax	-$309M	-$104M	-197.3%	-$126M	-$613M	+79.4%
Additional Paid in Capital	$19.4B	$17.5B	+10.9%	$17.1B	$18.1B	-5.7%
Amortization of Debt Issuance Costs and Discounts	–	–	–	$30.5M	$31.5M	-3.2%
Amortization of Intangible Assets	$758M	$222M	+241.6%	$997M	$1.37B	-27.2%
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	700K	900K	-22.2%	807K	293K	+175.0%
Assets	$63.6B	$48.5B	+31.0%	$53.3B	$46.9B	+13.8%
Assets, Current	$11.7B	$7.75B	+50.5%	$12.6B	$6.03B	+109.0%
Bridge Loan	–	–	–	$6.2B2025-05-15	–	–
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability	$3.7M	–	–	–	–	–
Business Combination, Contingent Consideration, Liability	$132M2025-12-31	–	–	$132M	–	–
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Contingent Liability	-$359M	–	–	–	–	–
Capitalized Contract Cost, Amortization	$27M	$32.5M	-17.1%	$128M	$138M	-7.5%
Cash	$981M2025-12-31	$1.07B	-8.1%	$981M	$1.07B	-8.1%
Cash and Cash Equivalents, at Carrying Value	$5.41B	$2.61B	+107.1%	$8.34B	$2.36B	+253.8%
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$5.69B	$3.34B	+70.5%	$9.12B	$2.74B	+233.2%
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Disposal Group, Including Discontinued Operations	$0	$466M	-100.0%	$404M	$182M	+121.9%
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations	$5.69B	$3.34B	+70.5%	–	–	–
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	-$432M	$192M	-325.2%	$6.38B	$479M	+1,231.8%
Common Stock, Dividends, Per Share, Declared	$0.25	$0.25	0.0%	$1.00	$1.00	0.0%
Common Stock, Shares Authorized	400M	400M	0.0%	400M	400M	0.0%
Common Stock, Shares, Issued	266M	242M	+9.6%	237M	249M	-4.8%
Common Stock, Shares, Outstanding	266M	242M	+9.6%	237M	249M	-4.8%
Common Stock, Value, Issued	$0	$0	–	$0	$0	–
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest	$8.48M	$72.1M	-88.2%	$168M	$19.3M	+771.9%
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	-$101M	$587M	-117.2%	$1.89B	$1.22B	+55.2%
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	-$92.4M	$659M	-114.0%	$2.06B	$1.23B	+66.4%
Contract with Customer, Liability, Current	$193M	$176M	+9.6%	$177M	$202M	-12.3%
Contract with Customer, Liability, Noncurrent	$21.3M	$22.4M	-4.8%	$19.6M	$21.3M	-8.0%
Contract with Customer, Liability, Revenue Recognized	$80M	$74.7M	+7.1%	$183M	$165M	+11.2%
Cost of Goods and Services Sold	$1.29B	$502M	+157.9%	$2.11B	$2.03B	+3.9%
Costs and Expenses	$2.98B	$1.58B	+89.3%	$5.95B	$5.76B	+3.3%
Current Federal Tax Expense (Benefit)	–	–	–	$282M	$290M	-2.7%
Current Foreign Tax Expense (Benefit)	–	–	–	$180M	$192M	-6.4%
Current Income Tax Expense (Benefit)	–	–	–	$535M	$542M	-1.2%
Current State and Local Tax Expense (Benefit)	–	–	–	$73.8M	$60.4M	+22.3%
Debt Issuance Costs, Gross	$7.7M2026-03-05	–	–	–	–	–
Deferred Federal Income Tax Expense (Benefit)	–	–	–	-$175M	-$193M	+9.3%
Deferred Foreign Income Tax Expense (Benefit)	–	–	–	-$98.9M	-$71.3M	-38.6%
Deferred Income Tax Assets, Net	$345M	$97.5M	+253.8%	$171M	$98.4M	+74.2%
Deferred Income Tax Expense (Benefit)	–	–	–	-$284M	-$301M	+5.5%
Deferred Income Tax Liabilities, Net	$2.89B	$1.7B	+69.6%	$1.61B	$1.58B	+1.3%
Deferred State and Local Income Tax Expense (Benefit)	–	–	–	-$10.4M	-$36.6M	+71.6%
Deferred Tax Assets, Gross	$1.31B2025-12-31	$1.1B	+19.3%	$1.31B	$1.1B	+19.3%
Deferred Tax Assets, in Process Research and Development	$275M2025-12-31	$287M	-4.1%	$275M	$287M	-4.1%
Deferred Tax Assets, Investments	$132M2025-12-31	$111M	+19.6%	$132M	$111M	+19.6%
Deferred Tax Assets, Net of Valuation Allowance	$171M2025-12-31	$98.4M	+74.2%	$171M	$98.4M	+74.2%
Deferred Tax Assets, Operating Loss Carryforwards, Domestic	$23.1M2025-12-31	$28.6M	-19.4%	$23.1M	$28.6M	-19.4%
Deferred Tax Assets, Operating Loss Carryforwards, Foreign	$288M2025-12-31	$222M	+29.5%	$288M	$222M	+29.5%
Deferred Tax Assets, Other	$161M2025-12-31	$99.5M	+61.4%	$161M	$99.5M	+61.4%
Deferred Tax Assets, Tax Credit Carryforwards	$282M2025-12-31	$200M	+40.6%	$282M	$200M	+40.6%

Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.

Sources

Statements, segment revenue, metrics and estimates are standardised from the company's filings. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30, 10-Q 2024-06-30

Data as of 2026-11-02