Detailed financial statements for EVERTEC, Inc. (EVTC): income statement, balance sheet and cash-flow summary. Track margins, debt, liquidity and profitability trends year over year: ten fiscal years free and up to 20 with Premium.
EVERTEC, Inc. specializes in transaction processing services, with a strong presence throughout Latin America and the Caribbean. The company's operations are divided into distinct segments: Payment Services for Puerto Rico & the Caribbean, Payment Services for Latin America, Merchant Acquiring, Business Solutions, and Corporate & Other.
Analysis Summary
EVERTEC, Inc. reported revenue of $931.8M in the most recent fiscal year, growing at a 5-year CAGR of 12.8%. Net income reached $141.6M, with a 6.3% 5-year CAGR.
Trailing-twelve-month margins: gross margin 43.4%, operating margin 17.9%, net margin 9.8%. Free cash flow grew at -2.1% CAGR over 5 years.
At $32.72 (closing price, November 2, 2026), EVTC trades at a P/E of 21.25 and an ROE of 15.04%. Market capitalisation stands at $2.0B.
Balance sheet quality for EVTC: debt-to-equity ratio of 2.06, current ratio of 1.70 over the last 12 months, net debt of $824.4M at the end of the last fiscal year. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.
Cash flow quality is strong: free cash flow of $135.5M represents 96% conversion of reported net income. High conversion (above 90%) suggests earnings translate cleanly into cash; lower conversion may indicate working capital tightness or accounting timing differences.
Income Statement (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $389.5M | $407.1M | $453.9M | $487.4M | $510.6M | $589.8M | $618.4M | $694.7M | $845.5M | $931.8M |
| Cost of Revenue | $175.8M | $200.7M | $197.0M | $213.4M | $226.9M | $250.2M | $292.6M | $336.8M | $406.4M | $469.1M |
| Gross Profit | $213.7M | $206.5M | $256.9M | $274.0M | $283.7M | $339.6M | $325.8M | $358.0M | $439.1M | $462.7M |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Selling, General & Admin | $47.0M | $56.2M | $68.7M | $61.4M | $70.8M | $68.0M | $89.8M | $128.2M | $145.6M | $154.2M |
| Operating Expenses | $106.6M | $120.4M | $131.8M | $129.5M | $142.3M | $143.1M | $168.4M | $221.8M | $273.4M | $276.2M |
| Operating Income | $107.1M | $86.1M | $125.1M | $144.5M | $141.4M | $196.5M | $157.4M | $136.2M | $165.7M | $186.4M |
| EBITDA | $167.6M | $154.3M | $192.3M | $213.6M | $220.4M | $279.6M | $371.2M | $211.3M | $322.2M | $344.7M |
| Interest Expense | $24.6M | $29.9M | $30.0M | $28.8M | $25.1M | $22.8M | $24.8M | $32.3M | $74.7M | $68.3M |
| Pre-tax Income | $83.4M | $60.2M | $99.2M | $116.7M | $123.9M | $181.7M | $267.9M | $85.4M | $119.6M | $154.4M |
| Income Tax | $8.3M | $4.8M | $12.6M | $13.0M | $19.0M | $20.6M | $29.0M | $5.5M | $4.8M | $9.8M |
| Net Income | $75.0M | $55.1M | $86.3M | $103.5M | $104.4M | $161.1M | $239.0M | $79.7M | $112.6M | $141.6M |
| EPS | $1.01 | $0.76 | $1.19 | $1.44 | $1.45 | $2.24 | $3.48 | $1.23 | $1.75 | $2.22 |
| EPS (Diluted) | $1.01 | $0.76 | $1.16 | $1.41 | $1.43 | $2.21 | $3.45 | $1.21 | $1.73 | $2.20 |
| Shares Outstanding (Diluted) | 74.5 M | 72.9 M | 74.4 M | 73.5 M | 73.1 M | 72.9 M | 69.3 M | 65.8 M | 65.1 M | 64.4 M |
Income Statement (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|---|---|---|---|
| Revenue | $228.6M | $244.8M | $247.9M | $274.8M |
| Gross Profit | $103.8M | $125.1M | $92.4M | $110.6M |
| Operating Income | $37.7M | $43.1M | $44.6M | $53.3M |
| EBITDA | $80.2M | $93.6M | $85.1M | $101.4M |
| Net Income | $32.9M | $35.6M | $23.8M | $5.4M |
| EPS | $0.51 | $0.56 | $0.38 | $0.09 |
| EPS (Diluted) | $0.51 | $0.56 | $0.38 | $0.09 |
Balance Sheet (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $51.9M | $50.4M | $70.0M | $111.0M | $202.6M | $266.4M | $185.3M | $295.6M | $273.6M | $306.0M |
| Short-term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Receivables | $79.2M | $83.3M | $100.3M | $106.8M | $100.8M | $117.4M | $117.2M | $140.5M | $149.8M | $180.6M |
| Inventory | $17.3M | $21.5M | $29.0M | $39.2M | 0 | $38.0M | 0 | 0 | 0 | 0 |
| Total Current Assets | $158.3M | $168.7M | $216.2M | $276.0M | $359.0M | $436.4M | $389.1M | $561.4M | $529.1M | $590.8M |
| Property, Plant & Equipment | $38.9M | $37.9M | $36.8M | $73.8M | $71.1M | $69.8M | $72.3M | $77.2M | $72.2M | $102.6M |
| Goodwill | $371.0M | $398.6M | $394.6M | $399.5M | $397.7M | $393.3M | $423.4M | $791.7M | $726.9M | $892.0M |
| Intangible Assets | $299.1M | $280.0M | $259.3M | $241.9M | $219.9M | $213.3M | $200.3M | $518.1M | $430.9M | $553.1M |
| Total Assets | $885.7M | $902.8M | $927.3M | $1.01B | $1.07B | $1.14B | $1.13B | $2.06B | $1.86B | $2.24B |
| Accounts Payable | $40.8M | $41.1M | $47.3M | $39.2M | $43.3M | $28.5M | $29.7M | $66.5M | $58.7M | $63.7M |
| Short-term Debt | $47.8M | $58.5M | $14.2M | $14.2M | $14.2M | $19.8M | $40.8M | $23.9M | $23.9M | $33.9M |
| Total Current Liabilities | $129.2M | $147.2M | $136.7M | $144.3M | $153.0M | $152.9M | $208.4M | $298.3M | $279.7M | $285.0M |
| Long-term Debt | $599.7M | $557.3M | $524.1M | $510.9M | $481.0M | $444.8M | $389.5M | $946.8M | $931.6M | $1.06B |
| Total Liabilities | $777.5M | $754.8M | $711.7M | $740.1M | $730.1M | $674.5M | $657.0M | $1.42B | $1.34B | $1.53B |
| Retained Earnings | $116.3M | $148.9M | $228.7M | $296.5M | $379.9M | $506.1M | $487.3M | $538.9M | $599.6M | $687.7M |
| Total Equity | $104.7M | $144.1M | $211.5M | $267.2M | $337.7M | $466.2M | $471.5M | $594.3M | $472.5M | $621.6M |
| Total Debt | $647.5M | $615.7M | $538.3M | $555.6M | $523.5M | $486.6M | $447.0M | $986.4M | $966.6M | $1.13B |
| Net Debt | $595.5M | $565.3M | $468.3M | $444.6M | $320.9M | $220.2M | $261.7M | $690.8M | $692.9M | $824.4M |
| Working Capital | $29.1M | $21.5M | $79.5M | $131.7M | $206.1M | $283.5M | $180.7M | $263.0M | $249.4M | $305.7M |
Cash Flow (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | $75.1M | $55.4M | $86.6M | $103.7M | $104.9M | $161.1M | $238.9M | $79.9M | $114.8M | $144.6M |
| Depreciation & Amortization | $59.6M | $64.2M | $63.1M | $68.1M | $71.5M | $75.1M | $78.6M | $93.6M | $127.8M | $122.1M |
| Stock-based Compensation | $6.4M | $9.6M | $12.6M | $13.6M | $14.3M | $14.8M | $20.0M | $25.7M | $30.3M | $29.6M |
| Change in Working Capital | $21.0M | $3.5M | $6.2M | -$12.5M | $6.0M | -$27.9M | -$7.8M | $8.5M | -$1.7M | -$57.6M |
| Operating Cash Flow | $168.1M | $145.8M | $172.7M | $179.9M | $199.1M | $228.4M | $219.9M | $211.2M | $260.1M | $227.0M |
| Capital Expenditure | -$42.3M | -$33.5M | -$41.3M | -$59.9M | -$48.6M | -$81.7M | -$82.5M | -$85.0M | -$88.4M | -$91.5M |
| Acquisitions | -$15.6M | -$42.8M | 0 | -$5.6M | 0 | 0 | -$44.4M | -$423.1M | -$36.0M | -$144.4M |
| Stock Repurchased | -$39.9M | -$7.7M | -$10.0M | -$31.8M | -$7.3M | -$24.4M | -$96.6M | -$36.1M | -$82.3M | -$69.3M |
| Dividends Paid | -$29.7M | -$21.8M | -$7.3M | -$14.4M | -$14.4M | -$14.4M | -$13.8M | -$13.0M | -$12.9M | -$12.8M |
| Free Cash Flow | $125.8M | $112.3M | $131.4M | $120.1M | $150.4M | $146.8M | $137.4M | $126.2M | $171.6M | $135.5M |
Growth & Margins (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue Growth (YoY) | +4.5% | +11.5% | +7.4% | +4.8% | +15.5% | +4.9% | +12.3% | +21.7% | +10.2% | |
| Net Income Growth (YoY) | -26.6% | +56.7% | +19.9% | +0.9% | +54.3% | +48.3% | -66.6% | +41.3% | +25.7% | |
| EPS Growth (YoY) | -24.8% | +56.6% | +21.0% | +0.7% | +54.5% | +55.4% | -64.7% | +42.3% | +26.9% | |
| Shares Change (YoY) | -2.2% | +2.1% | -1.3% | -0.6% | -0.2% | -4.9% | -5.0% | -1.1% | -1.0% | |
| FCF Growth (YoY) | -10.7% | +17.0% | -8.6% | +25.3% | -2.4% | -6.4% | -8.1% | +36.0% | -21.1% | |
| Gross Margin | 54.9% | 50.7% | 56.6% | 56.2% | 55.6% | 57.6% | 52.7% | 51.5% | 51.9% | 49.7% |
| Operating Margin | 27.5% | 21.1% | 27.6% | 29.6% | 27.7% | 33.3% | 25.5% | 19.6% | 19.6% | 20.0% |
| EBITDA Margin | 43.0% | 37.9% | 42.4% | 43.8% | 43.2% | 47.4% | 60.0% | 30.4% | 38.1% | 37.0% |
| Net Margin | 19.3% | 13.5% | 19.0% | 21.2% | 20.5% | 27.3% | 38.6% | 11.5% | 13.3% | 15.2% |
| FCF Margin | 32.3% | 27.6% | 29.0% | 24.6% | 29.5% | 24.9% | 22.2% | 18.2% | 20.3% | 14.5% |
| Effective Tax Rate | 9.9% | 7.9% | 12.7% | 11.1% | 15.3% | 11.3% | 10.8% | 6.4% | 4.1% | 6.4% |
Per-Share Data (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| FCF Per Share | $1.69 | $1.54 | $1.77 | $1.63 | $2.06 | $2.01 | $1.98 | $1.92 | $2.64 | $2.10 |
| Dividends Per Share | $0.40 | $0.30 | $0.10 | $0.20 | $0.20 | $0.20 | $0.20 | $0.20 | $0.20 | $0.20 |
| Shares Outstanding (Basic) | 74.1 M | 72.5 M | 72.6 M | 72.1 M | 71.9 M | 72.1 M | 68.7 M | 64.9 M | 64.3 M | 63.7 M |
What to look at in Industrials
Aerospace, defence, machinery, transport. Semi-cyclical. Key: backlog, operating margins, and FCF conversion.
- 5y revenue growth — Without growth, there is no long-term value creation
- Operating margin — The best indicator of operational discipline in industrials
- ROIC — Quality industrials have ROIC >15% — the rest destroy capital
- FCF conversion — FCF / Net Income — in industrials good >85%
- Net debt / EBITDA — Cyclical industrials with high debt suffer hard in recessions
- Capex / Revenue — Maintaining the machinery. <4% = possible underinvestment (future decline)
- Altman Z-Score — Bankruptcy model (NYU 1968) — combines liquidity, leverage and profitability. Key in cyclicals
Profitability
| Return on Equity | 15.04% |
| Return on Invested Capital | 6.45% |
| Return on Assets | 3.94% |
| Gross Margin | 43.36% |
| Operating Margin | 17.93% |
| Net Margin | 9.80% |
Financial Health
| Debt / Equity | 2.06 |
| Current Ratio | 1.70 |
| Piotroski F-Score | 7 |
| Altman Z-Score | 2.01 |
Key Ratios (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E | 17.57 | 17.96 | 24.12 | 23.64 | 27.12 | 22.31 | 9.30 | 33.28 | 19.73 | 13.10 |
| P/B | 12.57 | 6.87 | 9.85 | 9.19 | 8.38 | 7.72 | 4.72 | 4.47 | 4.70 | 2.98 |
| P/S | 3.38 | 2.43 | 4.59 | 5.04 | 5.54 | 6.11 | 3.60 | 3.83 | 2.63 | 1.99 |
| Gross Margin | 54.9% | 50.7% | 56.6% | 56.2% | 55.6% | 57.6% | 52.7% | 51.5% | 51.9% | 49.7% |
| Operating Margin | 27.5% | 21.1% | 27.6% | 29.6% | 27.7% | 33.3% | 25.5% | 19.6% | 19.6% | 20.0% |
| Net Margin | 19.3% | 13.5% | 19.0% | 21.2% | 20.5% | 27.3% | 38.6% | 11.5% | 13.3% | 15.2% |
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Explore sector: Industrials · Specialty Business Services
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