
Global Payments Earnings: Modest Travel Headwind Persists, Results in Line With Expectations
Global Payments' third-quarter results were largely in line with expectations, with slightly muted growth and strong margin improvement.
Global Payments' third-quarter results were largely in line with expectations, with slightly muted growth and strong margin improvement.
The merger with Total System Services bulked up Global Payments' acquiring business and strengthened its moat, given the importance of scale in the business. The Worldpay merger dramatically improves scale.
The focus on small merchants increases Global Payments' macro sensitivity.
Metric | GPN | FIS | JKHY |
|---|---|---|---|
Price/Earnings (Normalized) | 7.39 | 4.87 | 27.25 |
Price/Book Value | 1.09 | 0.93 | 6.02 |
Price/Sales | 2.15 | 1.18 | 4.95 |
Price/Cash Flow | 20.86 | 3.87 | 14.81 |
Metric | GPN | FIS | JKHY |
|---|---|---|---|
Quick Ratio | 0.53 | 0.42 | 0.66 |
Current Ratio | 0.82 | 0.55 | 1.17 |
Interest Coverage | 0.78 | 2.99 | 117.88 |
Metric | GPN | FIS | JKHY |
|---|---|---|---|
Return on Assets (Normalized) | 5.91% | 7.99% | 15.54% |
Return on Equity (Normalized) | 14.91% | 20.80% | 22.31% |
Return on Invested Capital (Normalized) | 8.88% | 11.11% | 21.33% |
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