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Side-by-side financial comparison of FISERV INC (FISV) and FLEX LTD. (FLEX). Click either name above to swap in a different company.
FLEX LTD. is the larger business by last-quarter revenue ($7.1B vs $5.3B, roughly 1.3× FISERV INC). FISERV INC runs the higher net margin — 15.3% vs 3.4%, a 12.0% gap on every dollar of revenue. On growth, FLEX LTD. posted the faster year-over-year revenue change (7.7% vs 0.6%). FISERV INC produced more free cash flow last quarter ($1.5B vs $272.0M). Over the past eight quarters, FLEX LTD.'s revenue compounded faster (25.2% 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.
Flex Ltd. is a Singaporean–American multinational manufacturing company. It is the third largest global electronics manufacturing services (EMS), original design manufacturer (ODM) company by revenue, behind only Pegatron for what concerns original equipment manufacturers. Flex's U.S. corporate headquarters are located in Austin, Texas. The company has manufacturing operations in over 30 countries, totaling about 172,000 employees.
FISV vs FLEX — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $5.3B | $7.1B |
| Net Profit | $811.0M | $239.0M |
| Gross Margin | — | 9.6% |
| Operating Margin | 24.4% | 5.5% |
| Net Margin | 15.3% | 3.4% |
| Revenue YoY | 0.6% | 7.7% |
| Net Profit YoY | -13.5% | -9.1% |
| EPS (diluted) | $1.51 | $0.64 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $5.3B | $7.1B | ||
| Q3 25 | $5.3B | $6.8B | ||
| Q2 25 | $5.5B | $6.6B | ||
| Q1 25 | $5.1B | $6.4B | ||
| Q4 24 | $5.3B | $6.6B | ||
| Q3 24 | $5.2B | $6.5B | ||
| Q2 24 | $5.1B | $6.3B | ||
| Q1 24 | $4.9B | $4.5B |
| Q4 25 | $811.0M | $239.0M | ||
| Q3 25 | $792.0M | $199.0M | ||
| Q2 25 | $1.0B | $192.0M | ||
| Q1 25 | $851.0M | $222.0M | ||
| Q4 24 | $938.0M | $263.0M | ||
| Q3 24 | $564.0M | $214.0M | ||
| Q2 24 | $894.0M | $139.0M | ||
| Q1 24 | $735.0M | $395.0M |
| Q4 25 | — | 9.6% | ||
| Q3 25 | — | 9.0% | ||
| Q2 25 | — | 8.7% | ||
| Q1 25 | — | 8.8% | ||
| Q4 24 | — | 9.1% | ||
| Q3 24 | — | 8.1% | ||
| Q2 24 | — | 7.5% | ||
| Q1 24 | — | -0.6% |
| Q4 25 | 24.4% | 5.5% | ||
| Q3 25 | 27.3% | 4.4% | ||
| Q2 25 | 30.7% | 4.7% | ||
| Q1 25 | 27.2% | 4.8% | ||
| Q4 24 | 31.8% | 5.1% | ||
| Q3 24 | 30.7% | 4.5% | ||
| Q2 24 | 28.0% | 3.7% | ||
| Q1 24 | 24.2% | -3.6% |
| Q4 25 | 15.3% | 3.4% | ||
| Q3 25 | 15.0% | 2.9% | ||
| Q2 25 | 18.6% | 2.9% | ||
| Q1 25 | 16.6% | 3.5% | ||
| Q4 24 | 17.9% | 4.0% | ||
| Q3 24 | 10.8% | 3.3% | ||
| Q2 24 | 17.5% | 2.2% | ||
| Q1 24 | 15.1% | 8.8% |
| Q4 25 | $1.51 | $0.64 | ||
| Q3 25 | $1.46 | $0.52 | ||
| Q2 25 | $1.86 | $0.50 | ||
| Q1 25 | $1.51 | $0.56 | ||
| Q4 24 | $1.63 | $0.67 | ||
| Q3 24 | $0.98 | $0.54 | ||
| Q2 24 | $1.53 | $0.34 | ||
| Q1 24 | $1.24 | $0.91 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $798.0M | $3.1B |
| Total DebtLower is stronger | $27.8B | $4.4B |
| Stockholders' EquityBook value | $25.8B | $5.1B |
| Total Assets | $80.1B | $20.8B |
| Debt / EquityLower = less leverage | 1.08× | 0.87× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $798.0M | $3.1B | ||
| Q3 25 | $1.1B | $2.2B | ||
| Q2 25 | $999.0M | $2.2B | ||
| Q1 25 | $1.2B | $2.3B | ||
| Q4 24 | $1.2B | $2.3B | ||
| Q3 24 | $1.2B | $2.6B | ||
| Q2 24 | $1.2B | $2.2B | ||
| Q1 24 | $1.2B | $2.5B |
| Q4 25 | $27.8B | $4.4B | ||
| Q3 25 | $28.9B | $3.7B | ||
| Q2 25 | $28.1B | $3.7B | ||
| Q1 25 | $27.0B | $3.7B | ||
| Q4 24 | $23.7B | $3.7B | ||
| Q3 24 | $24.1B | $3.7B | ||
| Q2 24 | $24.4B | $3.2B | ||
| Q1 24 | $23.8B | $3.3B |
| Q4 25 | $25.8B | $5.1B | ||
| Q3 25 | $25.1B | $5.0B | ||
| Q2 25 | $25.2B | $5.1B | ||
| Q1 25 | $25.9B | $5.0B | ||
| Q4 24 | $27.1B | $5.0B | ||
| Q3 24 | $27.8B | $5.0B | ||
| Q2 24 | $28.2B | $5.0B | ||
| Q1 24 | $28.8B | $5.3B |
| Q4 25 | $80.1B | $20.8B | ||
| Q3 25 | $79.4B | $19.5B | ||
| Q2 25 | $81.5B | $19.1B | ||
| Q1 25 | $80.4B | $18.4B | ||
| Q4 24 | $77.2B | $18.3B | ||
| Q3 24 | $79.8B | $18.6B | ||
| Q2 24 | $93.4B | $17.7B | ||
| Q1 24 | $92.7B | $18.3B |
| Q4 25 | 1.08× | 0.87× | ||
| Q3 25 | 1.15× | 0.73× | ||
| Q2 25 | 1.11× | 0.72× | ||
| Q1 25 | 1.04× | 0.74× | ||
| Q4 24 | 0.88× | 0.74× | ||
| Q3 24 | 0.87× | 0.74× | ||
| Q2 24 | 0.87× | 0.64× | ||
| Q1 24 | 0.82× | 0.61× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $1.9B | $420.0M |
| Free Cash FlowOCF − Capex | $1.5B | $272.0M |
| FCF MarginFCF / Revenue | 28.4% | 3.9% |
| Capex IntensityCapex / Revenue | 8.4% | 2.1% |
| Cash ConversionOCF / Net Profit | 2.40× | 1.76× |
| TTM Free Cash FlowTrailing 4 quarters | $4.3B | $1.2B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.9B | $420.0M | ||
| Q3 25 | $1.8B | $453.0M | ||
| Q2 25 | $1.7B | $399.0M | ||
| Q1 25 | $648.0M | $433.0M | ||
| Q4 24 | $2.2B | $413.0M | ||
| Q3 24 | $2.2B | $319.0M | ||
| Q2 24 | $1.3B | $340.0M | ||
| Q1 24 | $831.0M | $679.0M |
| Q4 25 | $1.5B | $272.0M | ||
| Q3 25 | $1.3B | $303.0M | ||
| Q2 25 | $1.2B | $266.0M | ||
| Q1 25 | $313.0M | $321.0M | ||
| Q4 24 | $1.8B | $301.0M | ||
| Q3 24 | $1.8B | $216.0M | ||
| Q2 24 | $993.0M | $229.0M | ||
| Q1 24 | $411.0M | $598.0M |
| Q4 25 | 28.4% | 3.9% | ||
| Q3 25 | 24.7% | 4.5% | ||
| Q2 25 | 21.5% | 4.0% | ||
| Q1 25 | 6.1% | 5.0% | ||
| Q4 24 | 34.7% | 4.6% | ||
| Q3 24 | 35.2% | 3.3% | ||
| Q2 24 | 19.4% | 3.6% | ||
| Q1 24 | 8.4% | 13.3% |
| Q4 25 | 8.4% | 2.1% | ||
| Q3 25 | 9.6% | 2.2% | ||
| Q2 25 | 8.7% | 2.0% | ||
| Q1 25 | 6.5% | 1.8% | ||
| Q4 24 | 7.6% | 1.7% | ||
| Q3 24 | 7.7% | 1.6% | ||
| Q2 24 | 6.8% | 1.8% | ||
| Q1 24 | 8.6% | 1.8% |
| Q4 25 | 2.40× | 1.76× | ||
| Q3 25 | 2.28× | 2.28× | ||
| Q2 25 | 1.62× | 2.08× | ||
| Q1 25 | 0.76× | 1.95× | ||
| Q4 24 | 2.37× | 1.57× | ||
| Q3 24 | 3.97× | 1.49× | ||
| Q2 24 | 1.50× | 2.45× | ||
| Q1 24 | 1.13× | 1.72× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FISV
| 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% |
FLEX
| Flex Reliability Solutions FRS | $3.2B | 46% |
| Transferred At Point In Time | $2.7B | 38% |
| Transferred Over Time | $1.1B | 16% |
