Stock Analysis on Net
Stock Analysis on Net

Fiserv Inc. (NASDAQ:FISV)

This company has been moved to the archive! The financial data has not been updated since April 28, 2022.

Common-Size Balance Sheet: Assets

Fiserv Inc., common-size consolidated balance sheet: assets

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Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Cash and cash equivalents 1.10 1.21 1.15 3.68 3.16
Trade accounts receivable, less allowance for doubtful accounts 3.75 3.33 3.59 9.31 9.69
Prepaid expenses and other current assets 2.00 1.76 1.94 2.43 2.12
Settlement assets 17.90 15.44 15.31 4.32 3.74
Assets held for sale 0.00 0.00 0.00 0.00 0.49
Current assets 24.75% 21.74% 21.98% 19.75% 19.20%
Property and equipment, net 2.28 2.18 2.07 3.53 3.79
Customer relationships, net 13.10 15.55 18.11 11.97 10.93
Other intangible assets, net 5.27 5.03 4.64 7.06 7.36
Intangible assets, net 18.37% 20.58% 22.75% 19.03% 18.29%
Goodwill 47.78 48.68 46.48 50.63 54.33
Contract costs, net 1.06 0.93 0.69 3.72 0.82
Investments in unconsolidated affiliates 3.36 3.69 3.51 0.58 0.00
Other long-term assets 2.39 2.20 2.52 2.76 3.58
Long-term assets 75.25% 78.26% 78.02% 80.25% 80.80%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

The asset composition demonstrates a structural shift between 2017 and 2021, characterized by a gradual increase in the proportion of current assets relative to a contraction in long-term assets. The balance sheet remains heavily dominated by non-physical assets, particularly goodwill and intangibles, which together constitute the majority of the total asset base throughout the analyzed period.

Current Asset Composition and Liquidity
Current assets increased from 19.20% of total assets in 2017 to 24.75% in 2021. This expansion is almost entirely attributed to a substantial surge in settlement assets, which rose from 3.74% to 17.90%. This growth in settlement assets is contrasted by a steady decline in cash and cash equivalents, which fell from 3.16% to 1.10%. Furthermore, trade accounts receivable experienced a sharp reduction between 2018 and 2019, moving from 9.31% to 3.59%, suggesting a change in credit terms or a shift in the nature of receivables.
Intangible Assets and Goodwill Trends
Goodwill serves as the primary asset component, although its relative weight decreased from 54.33% in 2017 to 47.78% in 2021. Net intangible assets showed a peaking pattern, rising from 18.29% in 2017 to a high of 22.75% in 2019, before declining to 18.37% by 2021. A similar trajectory is observed in customer relationships, which peaked at 18.11% in 2019. These fluctuations suggest significant valuation adjustments or the impact of amortization following acquisition activity.
Long-Term Asset and Fixed Asset Analysis
Long-term assets declined from 80.80% in 2017 to 75.25% in 2021. Within this category, property and equipment, net, showed a consistent downward trend, decreasing from 3.79% to 2.28%. Additionally, investments in unconsolidated affiliates, which were absent in 2017, became a consistent part of the asset mix, stabilizing between 3.36% and 3.69% from 2019 through 2021.

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