The broad-based revenue decline and margin compression across both segments, combined with a 30% drop in free cash flow, signal structural headwinds beyond seasonal noise. The May 14 Investor Day is the next catalyst — watch for medium-term targets and progress on the One Fiserv Action Plan. The affirmed guidance provides a floor but does not offset the Q1 deterioration.
Price Chart
Executive Summary
Fiserv reported Q1 2026 GAAP EPS of $1.07, down 29% YoY, and adjusted EPS of $1.79, down 16% YoY. GAAP revenue fell 2% to $5.03B, with organic revenue declining 4% as both Merchant (-1%) and Financial Solutions (-6%) segments contracted. The company affirmed its full-year 2026 guidance for organic revenue growth of 1%-3% and adjusted EPS of $8.00-$8.30, but the broad-based revenue decline and margin compression signal ongoing operational headwinds.
Key Financial Metrics
Key Facts
- GAAP revenue $5.03B, down 2% YoY; organic revenue down 4%
- GAAP EPS $1.07, down 29% YoY; adjusted EPS $1.79, down 16% YoY
- GAAP operating margin compressed to 18.3% from 27.2% YoY; adjusted operating margin fell to 29.7% from 37.8%
- Merchant Solutions organic revenue -1%; Financial Solutions organic revenue -6%
- Operating cash flow $599M vs $648M YoY; free cash flow $259M vs $371M YoY
- Company repurchased 3.3M shares for $200M in Q1
- Affirmed FY2026 guidance: organic revenue growth 1%-3%, adjusted EPS $8.00-$8.30
Financial Impact
GAAP revenue decline of 2% ($5.03B vs $5.13B), GAAP EPS decline of 29% ($1.07 vs $1.51), adjusted EPS decline of 16% ($1.79 vs $2.14), operating cash flow decline of 8% ($599M vs $648M), free cash flow decline of 30% ($259M vs $371M)
Risk Factors
- Continued organic revenue decline in Financial Solutions (-6%) could signal loss of market share or client attrition
- Operating margin compression (GAAP 18.3% vs 27.2%) driven by One Fiserv transformation costs and severance may persist
- Free cash flow decline of 30% limits capital return flexibility despite $200M in buybacks
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3287513 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 11, 2026 7w ago | Insider Buy | $52.72 $48.65 | ▼ −7.72% | ▼ −6.66% | $44.36 (−15.86%) |
Aug 6, 2026 8w ago | 8-K | $54.11 $52.73 | ▲ +2.55% | ▲ +3.15% | $44.36 (+18.02%) |
Jul 7, 2026 12w ago | 8-K | $50.60 $54.11 | ▲ +6.94% | ▲ +3.66% | $44.36 (−12.33%) |
Jun 26, 2026 14w ago | Institutional Cluster | $49.45 $49.97 | ▲ +1.05% | ▼ −0.21% | $44.36 (−10.29%) |
Jun 24, 2026 14w ago | Press Release | $48.19 $50.22 | ▲ +4.21% | ▲ +2.28% | $44.36 (−7.95%) |
Jun 23, 2026 14w ago | 8-K | $48.19 $50.22 | ▲ +4.21% | ▲ +2.28% | $44.36 (−7.95%) |
Jun 17, 2026 15w ago | 8-K | $47.86 $51.72 | ▲ +8.07% | ▲ +7.53% | $44.36 (−7.31%) |
Jun 17, 2026 15w ago | 424B5 | $47.86 $51.72 | ▲ +8.07% | ▲ +7.53% | $44.36 (−7.31%) |
Jun 17, 2026 15w ago | Insider Cluster | $47.86 $51.72 | ▲ +8.07% | ▲ +7.53% | $44.36 (−7.31%) |
Jun 16, 2026 15w ago | 424B5 / 8-K | $49.83 $49.54 | ▼ −0.58% | ▼ −0.78% | $44.36 (−10.98%) |
US Market Status
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