Global Payments (GPN) financial statements
Global Payments reported revenue of $7.7B in fiscal 2025, up 9.6% a year over 9 years.
Net income was $1.4B and the operating margin 22.8%, against 10.6% in 2016.
Free cash flow was $2.0B, and the company returned $239M in dividends and $1.2B in net buybacks.
The diluted share count rose 56% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Global Payments's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.4B | $4.0B | $3.4B | $4.9B | $7.4B | $8.5B | $9.0B | $7.4B | $7.7B | $7.7B |
| Cost of revenue | $1.6B | $1.9B | $1.1B | $2.1B | $3.7B | $3.8B | $3.8B | $2.1B | $2.0B | $2.1B |
| Gross profit | $1.8B | $2.0B | $2.3B | $2.8B | $3.8B | $4.8B | $5.2B | $5.3B | $5.7B | $5.6B |
| Selling, general and admin | $1.4B | $1.5B | $1.5B | $2.0B | $2.9B | $3.4B | $3.5B | $3.9B | $4.0B | $4.1B |
| Operating income | $356M | $559M | $737M | $791M | $894M | $1.4B | $640M | $1.3B | $2.0B | $1.8B |
| Interest expense | — | $174M | $196M | $301M | $327M | $328M | $437M | $628M | $608M | $634M |
| Pre-tax income | $257M | $393M | $562M | $518M | $594M | $1.0B | $224M | $782M | $1.5B | $1.3B |
| Income tax | $36M | -$101M | $77M | $62M | $77M | $169M | $167M | $187M | $242M | $252M |
| Net income | $202M | $468M | $452M | $431M | $585M | $965M | $111M | $986M | $1.6B | $1.4B |
| EPS (diluted) | $1.37 | $3.01 | $2.84 | $2.16 | $1.95 | $3.29 | $0.40 | $3.77 | $6.16 | $5.78 |
| Diluted shares | — | 156M | 159M | 199M | 301M | 294M | 276M | 262M | 255M | 242M |
| Gross margin | 52.4% | 51.5% | 67.5% | 57.8% | 50.8% | 55.7% | 57.9% | 72.0% | 73.7% | 72.6% |
| Operating margin | 10.6% | 14.1% | 21.9% | 16.1% | 12.0% | 15.9% | 7.1% | 17.8% | 25.5% | 22.8% |
| Net margin | 6.0% | 11.8% | 13.4% | 8.8% | 7.9% | 11.3% | 1.2% | 13.4% | 20.3% | 18.2% |
Balance sheet
Fiscal years, from Global Payments's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $1.2B | $1.3B | $1.2B | $1.7B | $1.9B | $2.0B | $2.0B | $2.1B | $2.4B | $8.3B |
| Receivables | $275M | $302M | $348M | $895M | $794M | $946M | $998M | $1.1B | $788M | $784M |
| Total current assets | $3.1B | $4.3B | $3.4B | $4.4B | $4.6B | $4.7B | $6.3B | $8.1B | $6.0B | $12.6B |
| Property, plant and equipment | $526M | $588M | $654M | $1.4B | $1.6B | $1.7B | $1.8B | $2.2B | $1.4B | $1.5B |
| Goodwill | $4.8B | $5.7B | $6.3B | $23.8B | $23.9B | $24.8B | $23.3B | $26.7B | $17.0B | $17.1B |
| Total assets | $10.7B | $13.0B | $13.2B | $44.5B | $44.2B | $45.3B | $44.8B | $50.6B | $46.9B | $53.3B |
| Total current liabilities | $2.9B | $3.8B | $3.3B | $3.6B | $4.5B | $4.5B | $6.9B | $8.1B | $6.3B | $7.5B |
| Long-term debt | $4.3B | $4.6B | $5.0B | $9.1B | $8.5B | $11.4B | $12.3B | $15.7B | $15.1B | $19.5B |
| Total liabilities | $7.9B | $9.0B | $9.0B | $16.4B | $16.7B | $19.4B | $22.3B | $26.8B | $23.9B | $29.6B |
| Shareholders' equity | $2.6B | $3.8B | $4.0B | $27.9B | $27.3B | $25.6B | $22.3B | $23.0B | $22.3B | $22.9B |
| Net debt | $3.3B | $3.3B | $3.9B | $7.4B | $6.5B | $9.4B | $10.3B | $13.6B | $12.7B | $11.2B |
Cash flow
Fiscal years, from Global Payments's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | — | $512M | $1.1B | $1.4B | $2.3B | $2.8B | $2.2B | $2.5B | $3.1B | $2.7B |
| Capital spending | — | $182M | $213M | $308M | $436M | $493M | $616M | $658M | $675M | $618M |
| Free cash flow | — | $330M | $893M | $1.1B | $1.9B | $2.3B | $1.6B | $1.9B | $2.4B | $2.0B |
| Stock-based compensation | — | $39M | $58M | $90M | $149M | $181M | $163M | $209M | $164M | $154M |
| Dividends paid | — | $0 | $0 | $23M | $233M | $260M | $274M | $260M | $253M | $239M |
| Share buybacks (net) | — | -$35M | -$208M | -$311M | -$631M | -$2.5B | -$2.9B | -$418M | -$1.6B | -$1.2B |
| Net borrowing | — | $213M | $470M | $719M | $59M | $2.2B | $1.9B | $2.6B | -$68M | $5.1B |
| Free cash flow margin | — | 8.3% | 26.5% | 22.1% | 25.3% | 26.8% | 18.1% | 25.6% | 30.8% | 26.5% |
| Dividends per share | — | — | — | $0.12 | $0.78 | $0.88 | $0.99 | $1.00 | $0.99 | $0.99 |
Questions
What was Global Payments's revenue in 2025?
$7.7B in fiscal 2025, from its 10-K filing.
How much free cash flow does Global Payments generate?
$2.0B in fiscal 2025 (operating cash flow minus capital spending).
From Global Payments's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.