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FISERV INC（FISV）与万事达卡（MA）财务数据对比。点击上方公司名可切换其他公司
万事达卡的季度营收约是FISERV INC的1.7倍（$8.8B vs $5.3B）。万事达卡净利率更高（46.1% vs 15.3%，领先30.8%）。万事达卡同比增速更快（17.6% vs 0.6%）。万事达卡自由现金流更多（$4.9B vs $1.5B）。过去两年万事达卡的营收复合增速更高（17.8% vs 4.0%）
Fiserv是总部位于美国威斯康星州密尔沃基的跨国金融科技企业，面向银行机构提供借记卡、信用卡交易处理、忠诚度计划管理、贷款服务、电子账单支付、电汇及ACH转账、支票存款、ATM交易处理等解决方案，同时生产借记卡、信用卡及POS终端设备。
万事达卡是总部位于美国纽约帕切斯的跨国支付卡服务企业，核心业务为处理商户收单银行与持卡人发卡机构之间的支付交易，同时提供旗下品牌借记卡、信用卡、预付卡及相关配套支付服务，服务网络覆盖全球，于2006年公开上市。
FISV vs MA — 直观对比
营收规模更大
MA
是对方的1.7倍
$5.3B
营收增速更快
MA
高出17.0%
0.6%
净利率更高
MA
高出30.8%
15.3%
自由现金流更多
MA
多$3.4B
$1.5B
两年增速更快
MA
近两年复合增速
4.0%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $5.3B | $8.8B |
| 净利润 | $811.0M | $4.1B |
| 毛利率 | — | — |
| 营业利润率 | 24.4% | 55.8% |
| 净利率 | 15.3% | 46.1% |
| 营收同比 | 0.6% | 17.6% |
| 净利润同比 | -13.5% | 21.5% |
| 每股收益（稀释后） | $1.51 | $4.52 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收FISVMA
| Q4 25 | $5.3B | $8.8B | ||
| Q3 25 | $5.3B | $8.6B | ||
| Q2 25 | $5.5B | $8.1B | ||
| Q1 25 | $5.1B | $7.3B | ||
| Q4 24 | $5.3B | $7.5B | ||
| Q3 24 | $5.2B | $7.4B | ||
| Q2 24 | $5.1B | $7.0B | ||
| Q1 24 | $4.9B | $6.3B |
净利润FISVMA
| Q4 25 | $811.0M | $4.1B | ||
| Q3 25 | $792.0M | $3.9B | ||
| Q2 25 | $1.0B | $3.7B | ||
| Q1 25 | $851.0M | $3.3B | ||
| Q4 24 | $938.0M | $3.3B | ||
| Q3 24 | $564.0M | $3.3B | ||
| Q2 24 | $894.0M | $3.3B | ||
| Q1 24 | $735.0M | $3.0B |
营业利润率FISVMA
| Q4 25 | 24.4% | 55.8% | ||
| Q3 25 | 27.3% | 58.8% | ||
| Q2 25 | 30.7% | 58.7% | ||
| Q1 25 | 27.2% | 57.2% | ||
| Q4 24 | 31.8% | 52.6% | ||
| Q3 24 | 30.7% | 54.3% | ||
| Q2 24 | 28.0% | 58.0% | ||
| Q1 24 | 24.2% | 56.8% |
净利率FISVMA
| Q4 25 | 15.3% | 46.1% | ||
| Q3 25 | 15.0% | 45.7% | ||
| Q2 25 | 18.6% | 45.5% | ||
| Q1 25 | 16.6% | 45.2% | ||
| Q4 24 | 17.9% | 44.6% | ||
| Q3 24 | 10.8% | 44.3% | ||
| Q2 24 | 17.5% | 46.8% | ||
| Q1 24 | 15.1% | 47.4% |
每股收益（稀释后）FISVMA
| Q4 25 | $1.51 | $4.52 | ||
| Q3 25 | $1.46 | $4.34 | ||
| Q2 25 | $1.86 | $4.07 | ||
| Q1 25 | $1.51 | $3.59 | ||
| Q4 24 | $1.63 | $3.64 | ||
| Q3 24 | $0.98 | $3.53 | ||
| Q2 24 | $1.53 | $3.50 | ||
| Q1 24 | $1.24 | $3.22 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $798.0M | $10.6B |
| 总债务越低越好 | $27.8B | — |
| 股东权益账面价值 | $25.8B | $7.7B |
| 总资产 | $80.1B | $54.2B |
| 负债/权益比越低杠杆越低 | 1.08× | — |
8季度趋势，按日历期对齐
现金及短期投资FISVMA
| Q4 25 | $798.0M | $10.6B | ||
| Q3 25 | $1.1B | $10.3B | ||
| Q2 25 | $999.0M | $9.0B | ||
| Q1 25 | $1.2B | $7.6B | ||
| Q4 24 | $1.2B | $8.4B | ||
| Q3 24 | $1.2B | $11.1B | ||
| Q2 24 | $1.2B | $7.0B | ||
| Q1 24 | $1.2B | $7.3B |
总债务FISVMA
| 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 | — |
股东权益FISVMA
| Q4 25 | $25.8B | $7.7B | ||
| Q3 25 | $25.1B | $7.9B | ||
| Q2 25 | $25.2B | $7.9B | ||
| Q1 25 | $25.9B | $6.7B | ||
| Q4 24 | $27.1B | $6.5B | ||
| Q3 24 | $27.8B | $7.4B | ||
| Q2 24 | $28.2B | $7.4B | ||
| Q1 24 | $28.8B | $7.2B |
总资产FISVMA
| Q4 25 | $80.1B | $54.2B | ||
| Q3 25 | $79.4B | $53.3B | ||
| Q2 25 | $81.5B | $51.4B | ||
| Q1 25 | $80.4B | $48.5B | ||
| Q4 24 | $77.2B | $48.1B | ||
| Q3 24 | $79.8B | $47.2B | ||
| Q2 24 | $93.4B | $42.3B | ||
| Q1 24 | $92.7B | $42.6B |
负债/权益比FISVMA
| 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× | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $1.9B | $5.0B |
| 自由现金流经营现金流 - 资本支出 | $1.5B | $4.9B |
| 自由现金流率自由现金流/营收 | 28.4% | 55.5% |
| 资本支出强度资本支出/营收 | 8.4% | 1.3% |
| 现金转化率经营现金流/净利润 | 2.40× | 1.23× |
| 过去12个月自由现金流最近4个季度 | $4.3B | $17.2B |
8季度趋势，按日历期对齐
经营现金流FISVMA
| Q4 25 | $1.9B | $5.0B | ||
| Q3 25 | $1.8B | $5.7B | ||
| Q2 25 | $1.7B | $4.6B | ||
| Q1 25 | $648.0M | $2.4B | ||
| Q4 24 | $2.2B | $4.8B | ||
| Q3 24 | $2.2B | $5.1B | ||
| Q2 24 | $1.3B | $3.1B | ||
| Q1 24 | $831.0M | $1.7B |
自由现金流FISVMA
| Q4 25 | $1.5B | $4.9B | ||
| Q3 25 | $1.3B | $5.5B | ||
| Q2 25 | $1.2B | $4.6B | ||
| Q1 25 | $313.0M | $2.2B | ||
| Q4 24 | $1.8B | $4.7B | ||
| Q3 24 | $1.8B | $5.0B | ||
| Q2 24 | $993.0M | $3.0B | ||
| Q1 24 | $411.0M | $1.5B |
自由现金流率FISVMA
| Q4 25 | 28.4% | 55.5% | ||
| Q3 25 | 24.7% | 63.8% | ||
| Q2 25 | 21.5% | 56.1% | ||
| Q1 25 | 6.1% | 30.6% | ||
| Q4 24 | 34.7% | 63.3% | ||
| Q3 24 | 35.2% | 68.2% | ||
| Q2 24 | 19.4% | 43.4% | ||
| Q1 24 | 8.4% | 23.9% |
资本支出强度FISVMA
| Q4 25 | 8.4% | 1.3% | ||
| Q3 25 | 9.6% | 2.1% | ||
| Q2 25 | 8.7% | 0.5% | ||
| Q1 25 | 6.5% | 2.2% | ||
| Q4 24 | 7.6% | 1.3% | ||
| Q3 24 | 7.7% | 1.5% | ||
| Q2 24 | 6.8% | 1.7% | ||
| Q1 24 | 8.6% | 2.5% |
现金转化率FISVMA
| Q4 25 | 2.40× | 1.23× | ||
| Q3 25 | 2.28× | 1.44× | ||
| Q2 25 | 1.62× | 1.24× | ||
| Q1 25 | 0.76× | 0.73× | ||
| Q4 24 | 2.37× | 1.45× | ||
| Q3 24 | 3.97× | 1.57× | ||
| Q2 24 | 1.50× | 0.96× | ||
| Q1 24 | 1.13× | 0.56× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
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% |
MA
| Payment Network | $4.9B | 56% |
| Value Added Services And Solutions | $3.9B | 44% |
