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Side-by-side financial comparison of Fiserv (FI) and Visa Inc. (V), based on the latest 10-Q / 10-K filings. Click either name above to swap in a different company.
Visa Inc. is the larger business by last-quarter revenue ($10.9B vs $5.3B, roughly 2.1× Fiserv). Visa Inc. runs the higher net margin — 15.3% vs 53.7%, a 38.3% gap on every dollar of revenue. On growth, Visa Inc. posted the faster year-over-year revenue change (14.6% vs 0.6%). Visa Inc. produced more free cash flow last quarter ($6.4B vs $1.5B). Over the past eight quarters, Visa Inc.'s revenue compounded faster (11.5% CAGR vs 4.0%).
Fiserv, Inc. is an American multinational financial technology company headquartered in Milwaukee, Wisconsin. The company processes debit and credit card transactions, loyalty programs, loans, electronic bill pay, wires and ACH transfers, check deposits, and ATM transactions on behalf of banking institutions. The company also produces debit and credit cards and point of sale terminals.
Visa Inc. is an American multinational payment card services corporation headquartered in San Francisco, California. It facilitates electronic funds transfers throughout the world, most commonly through Visa-branded credit cards, debit cards and prepaid cards.
FI vs V — Head-to-Head
Income Statement — Q4 2025 vs Q1 2026
| Metric | | |
|---|---|---|
| Revenue | $5.3B | $10.9B |
| Net Profit | $811.0M | $5.9B |
| Gross Margin | — | — |
| Operating Margin | 24.4% | 61.8% |
| Net Margin | 15.3% | 53.7% |
| Revenue YoY | 0.6% | 14.6% |
| Net Profit YoY | -13.5% | 14.3% |
| EPS (diluted) | $1.51 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align — see 8-quarter trend below.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history — bar widths are scaled to the larger of the two companies so you can eyeball the size gap and growth trajectory without doing math. Quarters aligned by calendar period (report date) so offset fiscal years line up.
| Q4 25 | $5.3B | $10.9B | ||
| Q3 25 | $5.3B | $10.7B | ||
| Q2 25 | $5.5B | $10.2B | ||
| Q1 25 | $5.1B | $9.6B | ||
| Q4 24 | $5.3B | $9.5B | ||
| Q3 24 | $5.2B | $9.6B | ||
| Q2 24 | $5.1B | $8.9B | ||
| Q1 24 | $4.9B | $8.8B |
| Q4 25 | $811.0M | $5.9B | ||
| Q3 25 | $792.0M | $5.1B | ||
| Q2 25 | $1.0B | $5.3B | ||
| Q1 25 | $851.0M | $4.6B | ||
| Q4 24 | $938.0M | $5.1B | ||
| Q3 24 | $564.0M | $5.3B | ||
| Q2 24 | $894.0M | $4.9B | ||
| Q1 24 | $735.0M | $4.7B |
| Q4 25 | 24.4% | 61.8% | ||
| Q3 25 | 27.3% | 57.3% | ||
| Q2 25 | 30.7% | 60.7% | ||
| Q1 25 | 27.2% | 56.6% | ||
| Q4 24 | 31.8% | 65.6% | ||
| Q3 24 | 30.7% | 66.0% | ||
| Q2 24 | 28.0% | 66.7% | ||
| Q1 24 | 24.2% | 61.0% |
| Q4 25 | 15.3% | 53.7% | ||
| Q3 25 | 15.0% | 47.5% | ||
| Q2 25 | 18.6% | 51.8% | ||
| Q1 25 | 16.6% | 47.7% | ||
| Q4 24 | 17.9% | 53.8% | ||
| Q3 24 | 10.8% | 55.3% | ||
| Q2 24 | 17.5% | 54.7% | ||
| Q1 24 | 15.1% | 53.1% |
| Q4 25 | $1.51 | — | ||
| Q3 25 | $1.46 | — | ||
| Q2 25 | $1.86 | — | ||
| Q1 25 | $1.51 | — | ||
| Q4 24 | $1.63 | — | ||
| Q3 24 | $0.98 | — | ||
| Q2 24 | $1.53 | — | ||
| Q1 24 | $1.24 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest filing — the kind of financial-strength check premium terminals charge for.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $798.0M | $14.8B |
| Total DebtLower is stronger | $27.8B | — |
| Stockholders' EquityBook value | $25.8B | $38.8B |
| Total Assets | $80.1B | $96.8B |
| Debt / EquityLower = less leverage | 1.08× | — |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $798.0M | $14.8B | ||
| Q3 25 | $1.1B | $17.2B | ||
| Q2 25 | $999.0M | $17.1B | ||
| Q1 25 | $1.2B | $11.7B | ||
| Q4 24 | $1.2B | $12.4B | ||
| Q3 24 | $1.2B | $12.0B | ||
| Q2 24 | $1.2B | $12.9B | ||
| Q1 24 | $1.2B | $13.0B |
| Q4 25 | $27.8B | — | ||
| Q3 25 | $28.9B | — | ||
| Q2 25 | $28.1B | — | ||
| Q1 25 | $27.0B | — | ||
| Q4 24 | $23.7B | — | ||
| Q3 24 | $24.1B | — | ||
| Q2 24 | $24.4B | — | ||
| Q1 24 | $23.8B | — |
| Q4 25 | $25.8B | $38.8B | ||
| Q3 25 | $25.1B | $37.9B | ||
| Q2 25 | $25.2B | $38.7B | ||
| Q1 25 | $25.9B | $38.0B | ||
| Q4 24 | $27.1B | $38.3B | ||
| Q3 24 | $27.8B | $39.1B | ||
| Q2 24 | $28.2B | $39.7B | ||
| Q1 24 | $28.8B | $40.5B |
| Q4 25 | $80.1B | $96.8B | ||
| Q3 25 | $79.4B | $99.6B | ||
| Q2 25 | $81.5B | $100.0B | ||
| Q1 25 | $80.4B | $92.9B | ||
| Q4 24 | $77.2B | $91.9B | ||
| Q3 24 | $79.8B | $94.5B | ||
| Q2 24 | $93.4B | $91.0B | ||
| Q1 24 | $92.7B | $92.4B |
| Q4 25 | 1.08× | — | ||
| Q3 25 | 1.15× | — | ||
| Q2 25 | 1.11× | — | ||
| Q1 25 | 1.04× | — | ||
| Q4 24 | 0.88× | — | ||
| Q3 24 | 0.87× | — | ||
| Q2 24 | 0.87× | — | ||
| Q1 24 | 0.82× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Net income can be massaged; cash flow is harder to fake.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $1.9B | $6.8B |
| Free Cash FlowOCF − Capex | $1.5B | $6.4B |
| FCF MarginFCF / Revenue | 28.4% | 58.7% |
| Capex IntensityCapex / Revenue; lower = less reinvestment burden | 8.4% | 3.5% |
| Cash ConversionOCF / Net Profit; >1× = earnings back up with cash | 2.40× | 1.16× |
| TTM Free Cash FlowTrailing 4 quarters | $4.3B | $22.9B |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $1.9B | $6.8B | ||
| Q3 25 | $1.8B | $6.2B | ||
| Q2 25 | $1.7B | $6.7B | ||
| Q1 25 | $648.0M | $4.7B | ||
| Q4 24 | $2.2B | $5.4B | ||
| Q3 24 | $2.2B | $6.7B | ||
| Q2 24 | $1.3B | $5.1B | ||
| Q1 24 | $831.0M | $4.5B |
| Q4 25 | $1.5B | $6.4B | ||
| Q3 25 | $1.3B | $5.8B | ||
| Q2 25 | $1.2B | $6.3B | ||
| Q1 25 | $313.0M | $4.4B | ||
| Q4 24 | $1.8B | $5.1B | ||
| Q3 24 | $1.8B | $6.4B | ||
| Q2 24 | $993.0M | $4.7B | ||
| Q1 24 | $411.0M | $4.3B |
| Q4 25 | 28.4% | 58.7% | ||
| Q3 25 | 24.7% | 54.5% | ||
| Q2 25 | 21.5% | 62.0% | ||
| Q1 25 | 6.1% | 45.5% | ||
| Q4 24 | 34.7% | 53.1% | ||
| Q3 24 | 35.2% | 66.1% | ||
| Q2 24 | 19.4% | 53.2% | ||
| Q1 24 | 8.4% | 48.5% |
| Q4 25 | 8.4% | 3.5% | ||
| Q3 25 | 9.6% | 3.6% | ||
| Q2 25 | 8.7% | 4.1% | ||
| Q1 25 | 6.5% | 3.4% | ||
| Q4 24 | 7.6% | 3.6% | ||
| Q3 24 | 7.7% | 3.2% | ||
| Q2 24 | 6.8% | 4.5% | ||
| Q1 24 | 8.6% | 3.2% |
| Q4 25 | 2.40× | 1.16× | ||
| Q3 25 | 2.28× | 1.23× | ||
| Q2 25 | 1.62× | 1.28× | ||
| Q1 25 | 0.76× | 1.03× | ||
| Q4 24 | 2.37× | 1.05× | ||
| Q3 24 | 3.97× | 1.25× | ||
| Q2 24 | 1.50× | 1.05× | ||
| Q1 24 | 1.13× | 0.97× |
Financial Flow Comparison
Sankey diagram of revenue → gross profit → operating profit → net profit for each company. Charts shown full-width and stacked so both segment hierarchies are readable side-by-side on desktop and mobile.
Revenue Breakdown by Segment
FI
| Small Business | $1.7B | 32% |
| Products | $1.0B | 19% |
| Digital Payments | $960.0M | 18% |
| Issuing | $792.0M | 15% |
| Enterprise | $587.0M | 11% |
| Processing | $265.0M | 5% |
| Affiliated Entity | $18.0M | 0% |
V
| Data Processing Revenues | $5.5B | 51% |
| International Transaction Revenues | $3.7B | 34% |
| Service Other | $1.2B | 11% |
| Other | $491.0M | 5% |
