Global Payments Inc. (GPN) — Fundamental Analysis & Key Financial Ratios

Kaplio's reading: Global Payments Inc.

Updated on October 20, 2026 · accounts published on August 5, 2026

Reading of October 19, 2026: A shrinking business with a net loss that still generates strong free cash flow

Global Payments trades at a fiscal 2025 P/E of 13.3×, far below its five-year average of 69.6×, while revenue fell 23.7 % over the last 12 months.

• Is Global Payments expensive or cheap? Its fiscal 2025 P/E of 13.3× sits far below its five-year average of 69.6×, with a 12.3 % free cash flow yield.
• How is the business doing? Revenue fell 23.7 % over the last 12 months and the operating margin dropped to 11.9 %, from 19.1 % in fiscal 2025.
• How strong is the balance sheet? Debt equals 0.97 times equity over the last 12 months, well above the 0.5 the sector considers prudent.
• Is it a scalable business with little leverage? Revenue per share grew 5.3 % a year in fiscal 2020-2025, just short of the 6 % the sector treats as healthy.
• What to expect from the next earnings? Global Payments reports on November 3, 2026; analysts expect EPS of $3.58 after it beat estimates in 6 of the last 8 quarters.

Is Global Payments expensive or cheap?

Global Payments trades at a P/E of 13.3× for fiscal 2025, well under its five-year average of 69.6×. That passes the sector test for a cheap multiple, which is anything below 90 % of that average. Over the last 12 months the free cash flow yield is 12.3 % and the earnings yield is 8.3 %, both high for a financial services company. The stock trades at 0.9× book value, so it is priced below the accounting value of its equity. The market is not rewarding it yet: the share is flat (+0 %) over 12 months and sits 11 % below its 52-week high of $94.83. The 52-week low is $62.47.

How is the business doing?

The last 12 months show a business under pressure. Revenue is down 23.7 % year over year and EPS is down 5.4 %. The operating margin over the last 12 months is 11.9 %. That is well below the 19.1 % of fiscal 2025 and the 18.7 % average for fiscal 2014-2025, so profitability has slipped under its own 12-year norm. Further down the income statement it looks worse: the net margin is −9.4 % and ROE is −4.1 %, which means the company booked a net loss over the period. The figures do not show the causes. The next reports should tell whether the decline is lasting.

How strong is the balance sheet?

Global Payments carries debt equal to 0.97 times its equity over the last 12 months. In financial services a ratio under 0.5 counts as prudent, so the company leans on borrowing more than the sector standard. Cash flow gives it a cushion: free cash flow was 145.6 % of net income in fiscal 2025, above the 90 % healthy threshold, so reported profits turned into real cash. Shareholder payouts are modest and well covered. The dividend yield is 1.2 % over the last 12 months, and the dividend took 17 % of fiscal 2025 earnings, which leaves room to pay down debt.

Is it a scalable business with little leverage?

Asset managers, brokers, fintech firms and exchanges are not banks. Their value comes from growing fee revenue and turning it into cash without heavy debt, so the sector looks at growth, margins, ROE and cash quality rather than loan books. Global Payments falls short on most of these tests. Revenue per share grew 5.3 % a year in fiscal 2020-2025, below the 6 % healthy mark. The fiscal 2025 operating margin of 19.1 % is under the 30 % threshold, and ROE of −4.1 % over the last 12 months is far from 15 %. Its strong point is cash: 145.6 % of fiscal 2025 net income became free cash flow.

What to expect from the next earnings?

Global Payments publishes results on November 3, 2026, and analysts expect EPS of $3.58 for the quarter. Its track record is solid: it beat EPS estimates in 6 of the last 8 quarters. On August 5, 2026 it reported $3.46 against $3.44 expected, a 0.6 % beat. Expectations are stable. The 2026 EPS consensus barely moved in the last 30 days, from $13.65 to $13.64 across 23 analysts, and the revenue consensus also held steady. Of the 63 analysts covering the company, 37 rate it a buy, 22 a hold and 4 a sell.

How this was prepared: the data comes from companies' official filings, collected by a professional provider, and from Kaplio's analysis engine (trailing-12-month ratios, 10 years of history and sector medians computed across US-listed companies). The text is written from that data alone, every figure is checked against it before publication, and it is reviewed when the company reports results. This is not investment advice.