What is the primary revenue source for Fiserv (FI)?

According to the latest financial reports, the company's revenue is driven by its core business segments and operational services. You can explore the exact breakdown and proportions of each revenue stream using the interactive charts on this page.

How can I visualize and analyze FI's financial statements?

gkcal provides interactive Sankey diagrams and profit waterfall charts that map out Fiserv's total revenue, cost of goods sold, operating expenses, and net income, making it easy to understand their business model and cash flow at a glance.

How Fiserv Makes Money: FI Revenue Breakdown (2026)

Operations

Where did the money come from, and where was it spent?

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Revenue was roughly flat year over year while operating profit declined, pressuring profitability.

The largest revenue segment accounts for 80.96% of revenue, indicating concentration.

Operating margin declined by 8.93 percentage points year over year.

Revenue: USD 5.03B
Largest revenue segment share (Processing And Services): 80.96%
Selling, general and administrative: USD 1.89B
Cost of revenue: USD 1.61B

View calculation evidence

YoY periods: Q1 2026 compared with Q1 2025

Source metrics

RevenueRevenue · RevenueFromContractWithCustomerExcludingAssessedTax
Cost of revenueCost of goods sold and services · CostOfGoodsAndServicesSold
Selling, general and administrativeSelling, general and administrative · SellingGeneralAndAdministrativeExpense
Largest revenue segment share (Processing And Services)Processing And Services · segment_value / revenue * 100
Operating marginOperating income · operating_income / revenue * 100

Assets

Where is the money tied up, and how is the company financed?

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Liabilities and shareholder equity jointly fund the asset base, with a broadly stable mix.

Goodwill accounts for 46.68% of total assets, a high share where impairment could hit earnings and equity.

Goodwill: USD 37.60B
Accounts receivable: USD 3.88B
Property, plant and equipment: USD 3.23B
Total liabilities: USD 54.33B
Shareholder equity: USD 26.22B

View calculation evidence

YoY periods: Q1 2026 compared with Q1 2025

Source metrics

GoodwillGoodwill · Goodwill
Property, plant and equipmentProperty and equipment, net · PropertyPlantAndEquipmentNet
Shareholder equityTotal equity · StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
Total liabilitiesTotal liabilities · Liabilities
Accounts receivableTrade accounts receivable, less allowance for doubtful accounts · AccountsReceivableNetCurrent

Cash

Did accounting profit ultimately turn into cash?

Steady

Operating cash flow covers accounting profit, showing good cash conversion.

Operating cash flow equals 104.9% of net income.

Free cash flow remains positive after capital expenditure.

Net income: USD 571.00M
Operating cash flow: USD 599.00M
Cash conversion: 104.90%
Free cash flow: USD 141.00M

View calculation evidence

YoY periods: Q1 2026 compared with Q1 2025

Source metrics

Net incomeNet income attributable to fiserv, inc. · NetIncomeLoss
Free cash flowcfo - capex
Cash conversionoperating_cash_flow / net_income * 100
Operating cash flowsum(waterfull.operating)

Shareholders

Did the money earned actually make its way back to shareholders?

Neutral

There was no material cash return; earnings stayed in the business without significant dilution.

View calculation evidence

YoY periods: Q1 2026 compared with Q1 2025

Diluted share count is missing, so dilution cannot be assessed against buybacks.

Financial Insights

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Where did the money come from, and where was it spent?

Where is the money tied up, and how is the company financed?

Did accounting profit ultimately turn into cash?

Did the money earned actually make its way back to shareholders?