At a glance
Global Payments Inc is worth $26.36B, about 17 times its fiscal 2025 earnings. Revenue fell 0.4% to $7.71B in fiscal 2025, with 18.2% kept as profit. It pays a 1.0% dividend yield, and returned $9.90B to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +29.8% over the past year with dividends reinvested and −4.6% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 44.3% in the 2020 crash (S&P 500: 33.7%) and 29.2% in the 2022 bear market (S&P 500: 24.5%).
The business in plain English
Global Payments, based in Georgia with about 26,000 employees, helps merchants in North America, Europe, Asia-Pacific and Latin America accept card, check and digital payments. When a shopper pays by Visa, Mastercard, American Express or Discover, the store and the card issuer don't deal directly. It sits between them: it gets the sale approved, routes the data so the money settles, and handles disputed charges, known as chargebacks.
Most revenue comes from fees set as a percentage of each sale or a flat charge per transaction, so it tracks merchants' sales. It also earns software subscription, licensing and add-on service fees. It sells three ways: its own checkout (point-of-sale) systems, branded Genius, for restaurants and retailers, plus software for schools, property managers and event organizers; payments built into partners' software and shopping carts; and core processing sold by its direct sales teams, banks and independent sales agents.
To refocus, it sold its AdvancedMD medical software unit in December 2024 and its payroll business in September 2025. In January 2026 it bought Worldpay and handed its Issuer Solutions business to FIS in a linked deal. Merchant Solutions was its only reported segment for 2025, when revenue was $7.7 billion. With Worldpay included, revenue in the quarter ended June 30, 2026, rose 68.6% from a year earlier to $3.3 billion.
Price history
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GPN +29.8% over the year to Nov 2, 2026, total return with dividends reinvested.
Latest results
- In Q2 FY2026 (ended Jun 30, 2026), revenue was $3.32B, up 68.6% from a year earlier, and net income was $13.0M (-94.6%).
- For fiscal 2025, revenue was $7.71B (-0.4% year over year) with a 18.2% net margin.
Financial health check
| Operating margin | 22.8% good |
|---|---|
| Free cash flow margin | 26.5% good |
| Return on equity (FY2025) | 6.1% weak |
| Return on assets (FY2025) | 2.6% weak |
| Net cash (cash minus debt) | $-17.11B weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $7.42B | $584.5M | $1.88B |
| FY2021 | $8.52B | $965.5M | $2.29B |
| FY2022 | $8.98B | $111.5M | $1.63B |
| FY2023 | $7.38B | $986.2M | $1.89B |
| FY2024 | $7.74B | $1.57B | $2.38B |
| FY2025 | $7.71B | $1.40B | $2.04B |
Valuation snapshot
| Market value | $26.36B |
|---|---|
| P/E ratio | 17.2 |
| Dividend yield | 1% |
Rank among 1514 US companies
Market value at each year end
Global Payments’s market value went from $21.34B at the end of 2016 to $26.36B on Nov 2, 2026, up 24%; since the end of 2025 it is up 44%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Nov 2, 2026 | $26.36B | +43.9% |
| 2025 | $18.32B | -35.7% |
| 2024 | $28.52B | -13.8% |
| 2023 | $33.07B | +23.1% |
| 2022 | $26.86B | -31.5% |
| 2021 | $39.22B | -39.2% |
| 2020 | $64.48B | +17.5% |
| 2019 | $54.87B | +68.1% |
| 2018 | $32.63B | +2.3% |
| 2017 | $31.90B | +49.5% |
| 2016 | $21.34B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| GPN price data to Nov 2, 2026 | +30.0% | +29.8% | -2.8% | -4.6% | +4.1% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +30.0% |
| 2025 | -30.1% |
| 2024 | -11.0% |
| 2023 | +29.0% |
| 2022 | -25.9% |
| 2021 | -36.9% |
| 2020 | +18.6% |
| 2019 | +77.3% |
| 2018 | +2.9% |
| 2017 | +44.5% |
| 2016 | +7.7% |
| 2015 | +59.9% |
| 2014 | +24.4% |
| 2013 | +43.7% |
| 2012 | -4.2% |
| 2011 | +2.7% |
| 2010 | -14.0% |
| 2009 | +64.6% |
| 2008 | -29.4% |
| 2007 | +0.7% |
| 2006 | -0.6% |
| 2005 | +59.4% |
| 2004 | +24.4% |
| 2003 | +47.5% |
| 2002 | -6.7% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 38.5% over that stretch · deepest drop along the way 44.5%, back to its old high 7.2 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 43.9% over that stretch · deepest drop along the way 44.3%, back to its old high 9.2 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 23.9% over that stretch · deepest drop along the way 29.2%, not recovered by the end of the data |
Insider activity
Form 4 filings from 2025-10-29 to 2026-10-29 (25 read): 0 open-market purchases and 0 sales ($0.00).
Who owns it
Large shareholders (13G filings)
| GTCR W Aggregator LP | 15.45% | Jan 9, 2026 |
| Vanguard Capital Management | 6.17% | Mar 31, 2026 |
ETFs with the most weight in GPN
| IPAY Amplify Mobile Payments ETF | 4.32% |
| FINX Global X FinTech ETF | 4.29% |
| BPAY iShares FinTech Active ETF | 3.89% |
| ABCS Alpha Blue Capital US Small-Mid Cap Dynamic ETF | 1.73% |
| FDIG Fidelity Crypto Industry and Digital Payments ETF | 1.56% |
| RSPF Invesco S&P 500 Equal Weight Financials ETF | 1.29% |
| DTEC ALPS Disruptive Technologies ETF | 0.97% |
| SURE AdvisorShares Insider Advantage ETF | 0.95% |
What could go wrong
- Worldpay deal may not pay off. Global Payments bought Worldpay in January 2026, paying GTCR about $6.2 billion in cash plus 43.3 million shares. If integration stumbles, expected savings may not arrive, costs could rise and customers could leave.
- A heavy debt load. As of June 30, 2026, total debt was $22.5 billion against $5.4 billion of cash and investments. That limits flexibility, and a credit-rating downgrade could raise interest costs.
- Restructuring could disrupt the business. The company is unifying its brands, technology and operations, with extra costs expected through the first half of 2027. The hoped-for savings and growth may not arrive, and the upheaval could disrupt the business.
- Reliance on Visa, Mastercard and sponsor banks. To process card payments, Global Payments needs Visa and Mastercard registrations, bank clearing services and, in some markets, a sponsoring bank. Losing these, or rising network fees, could cost it customers or earnings.
- Losses from chargebacks and merchant fraud. When a shopper disputes a charge and wins, the merchant owes the money back. If the merchant can't or won't pay, Global Payments may take the loss. Merchant fraud adds to this risk.
- Competition from better-funded rivals. Payments is crowded and changes quickly. Some competitors have more money and resources, which can help them cut prices or launch new technology. Big merchants could also shift transaction volume to other providers.
Recent events
- Quarterly results released
- Other company announcement
- Quarterly results released
- Shareholder vote results
- Major agreement signed; New debt or financial obligation; Other company announcement
- Major agreement signed
- Other company announcement
- Other company announcement
- Quarterly results released; Executive or board change; Investor presentation or announcement
- Executive or board change
For income and retirement investors
Global Payments pays a modest dividend, flat at $1.00 per share in each fiscal year from 2022 through 2025, after rising from $0.78 in 2020. The yield was 1.2% as of October 28, 2026. Dividends took about 17% of fiscal 2025 earnings and 11.7% of free cash flow (cash left after running and investing in the business). The company spent far more on buybacks: $8.6 billion from fiscal 2021 to 2025, versus $1.3 billion on dividends. The share count fell 8.8% from October 2021 to July 2026, even after it issued 43.3 million shares for Worldpay.
The stock has fallen sharply in past downturns: 44.5% in the 2008 financial crisis and 44.3% in the 2020 COVID crash, recovering in about 7 and 9 months, respectively. In the 2022 bear market it fell 29.2% and had not regained that peak as of October 28, 2026. As with any single stock, Global Payments carries more risk than a diversified fund.
Questions investors ask
How does Global Payments make money?
Mostly through transaction fees. When merchants accept card, check or digital payments, Global Payments charges a percentage of each sale or a flat fee per transaction to approve, process and settle it. It also earns software subscription and licensing fees from its own business software, plus fees for add-on services. Revenue was $7.7 billion in fiscal 2025, the year ended December 31, 2025, before the Worldpay purchase closed in January 2026.
Does Global Payments pay a dividend?
Yes, but it is small and has not risen since fiscal 2022. Global Payments paid $1.00 per share in each fiscal year from 2022 through 2025, and the yield was 1.2% as of October 28, 2026. Dividends used about 17% of fiscal 2025 earnings. The company has put far more cash into buybacks: $8.6 billion from fiscal 2021 to 2025, compared with $1.3 billion in dividends. It warns it may not keep paying dividends or buying back shares at the levels shareholders expect.
What happened with Global Payments and Worldpay?
It was a two-part deal completed in January 2026. Global Payments bought Worldpay, a payments technology company, from FIS and GTCR, and at the same time sold its Issuer Solutions business to FIS. It paid GTCR about $6.2 billion in cash plus 43.3 million shares, and received about $7.7 billion in cash plus FIS's stake in Worldpay. A GTCR entity reported owning 15.45% of Global Payments as of January 9, 2026. The company lists integrating Worldpay as a major risk.
How much debt does Global Payments have?
About $22.5 billion as of June 30, 2026, against $5.4 billion in cash and investments, for net debt of about $17.1 billion. Shareholders' equity was $23.1 billion. The company warns that this substantial debt could limit its flexibility, that a credit-rating downgrade could raise interest costs, and that its large goodwill balance (the premium paid in past acquisitions) could be written down.
What is Global Payments' P/E ratio?
About 14.5 times earnings as of October 28, 2026, based on fiscal 2025 earnings of $5.78 per share. The price-to-earnings (P/E) ratio compares the share price with a year's profit per share. That multiple follows a long slide: the share price fell 30.1% in 2025 and 38% over the five years to October 28, 2026. Profits may also shift as Worldpay is absorbed; net income in the quarter ended June 30, 2026, was 94.6% lower than a year earlier.