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Global Payments key statistics and ratios

In fiscal 2025, Global Payments had return on equity of 6.2%, an operating margin of 22.8%, debt equal to 95.7% of equity and a current ratio of 1.69. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2009May 20092010May 20102011May 20112012May 20122013May 20132014May 20142015May 20152016May 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Gross margin———————60.4%51.5%67.5%57.8%50.8%55.7%57.9%72.0%73.7%72.6%63.9%
Operating margin20.0%19.7%17.8%13.9%15.0%15.9%16.5%14.7%14.1%21.9%16.1%12.0%15.9%7.1%17.8%25.5%22.8%12.4%
Net margin2.5%12.4%11.3%8.5%9.1%9.6%10.0%9.4%11.8%13.4%8.8%7.9%11.3%1.2%13.4%20.3%18.2%−9.1%
Free-cash-flow margin23.4%24.9%32.9%−12.9%6.0%4.4%12.2%17.3%8.3%26.5%22.1%25.3%26.8%18.1%25.6%30.8%26.5%8.0%
Return on equity5.5%26.4%20.5%16.0%18.6%22.9%31.7%—12.3%11.6%2.7%2.1%3.6%0.5%4.4%6.9%6.2%−4.1%
Return on assets—10.0%7.8%6.2%7.4%6.9%5.7%3.3%4.0%3.4%1.5%1.3%2.2%0.2%2.1%3.2%2.8%−1.6%
Asset turnover—0.810.690.730.820.720.570.360.340.260.170.170.190.200.150.160.150.17
Current ratio—1.441.281.491.721.361.091.171.131.031.221.011.060.920.990.961.690.82
Debt to equity0.0%66.1%75.6%63.5%100.4%183.9%307.8%—139.5%146.1%34.4%35.3%46.7%63.9%75.4%75.5%95.7%102.3%
Interest cover (operating income ÷ interest)————11.3x10.8x11.4x6.3x3.2x3.8x2.6x2.7x4.1x1.5x2.1x3.2x2.8x1.5x
Effective tax rate29.2%28.2%29.3%27.6%28.6%28.5%25.9%19.6%−25.8%13.8%12.0%13.0%16.2%74.3%23.9%15.8%20.0%12.8%
SG&A as % of revenue45.5%44.7%46.4%46.6%47.1%46.8%46.7%45.7%37.4%45.6%41.7%38.8%39.8%39.3%52.3%51.7%53.5%54.2%
Capital spending as % of revenue2.8%3.4%5.3%5.0%4.1%3.2%3.3%3.2%4.6%6.3%6.3%5.9%5.8%6.9%8.9%8.7%8.0%8.2%
Free cash flow ÷ net income919.0%201.5%292.1%−150.6%65.7%45.9%121.3%184.5%70.6%197.5%251.6%321.3%236.9%>999%191.8%151.7%145.6%—
Dividends ÷ net income17.2%3.2%3.1%3.4%2.9%2.3%1.9%2.0%0.0%0.0%5.4%39.9%26.9%245.7%26.4%16.1%17.0%—
Dividends and buybacks ÷ free cash flow1.9%25.5%3.5%—4.4%5.1%1.6%1.1%10.5%23.3%30.9%46.0%122.1%196.2%35.9%75.7%70.1%225.1%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

0 of 7 checks passed · June 30, 2026
What it owns · $63.6bn
Short-term assets $11.7bnLonger-term assets $51.9bn
What it owes, and who funded it · $62.7bn
Short-term liabilities $14.2bnLonger-term liabilities $25.5bnShareholders' equity $23.1bn
  • Short-term assets cover short-term liabilities $11.7bn of assets due within a year against $14.2bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $11.7bn short-term assets against $25.5bn of longer-dated liabilities.
  • More cash than debt $5.4bn of cash against $22.5bn of debt.
  • Debt below 40% of shareholders' equity Debt is 97% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 45% to 97% over five years.
  • A year's operating cash flow covers at least 20% of debt $1.7bn of operating cash flow against $22.5bn of debt.
  • Operating profit covers interest at least five times over Operating income of $1.3bn against $838m of interest.

From Global Payments's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

61 /100

Moderate moat

How hard Global Payments's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 2 / 20

    Cash operating profit has been a median 3.6% of total assets over 9 years.

  • Pricing power 14 / 20

    Gross margin has been a median 59.6%, moving by 8.4 percentage points (standard deviation) across 9 years.

  • Durability 10 / 20

    Operating margin has been a median 15.2%; its worst year was 6.4%.

  • Cash conversion 20 / 20

    Free cash flow was positive in 10 of 10 years, at a median 21.2% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 14.6% over five years; stock-based pay has been a median 2.0% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (66 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

Head to head: CPAY vs GPNFISV vs GPNFOUR vs GPN

More: Transaction & Payment Processing Services stocks compared, Financials sector, rankings of US companies

Figures from Global Payments's SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Global Payments.