Stock Analysis on Net
Stock Analysis on Net

Fiserv Inc. (NASDAQ:FISV)

$22.49

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

Cash Flow Statement
Quarterly Data

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

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Fiserv Inc., consolidated cash flow statement (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Net income
Adjustment for discontinued operations
Depreciation and other amortization
Amortization of acquisition-related intangible assets
Amortization of financing costs and debt discounts
Net foreign currency gain on financing activities
Share-based compensation
Deferred income taxes
Gain on sale of assets
(Income) loss from investments in unconsolidated affiliates
Distributions from unconsolidated affiliates
Settlement of interest rate hedge contracts
Non-cash impairment charges
Other operating activities
Trade accounts receivable
Prepaid expenses and other assets
Contract costs
Accounts payable and other liabilities
Contract liabilities
Changes in assets and liabilities, net of effects from acquisitions and dispositions
Adjustments to reconcile net income to net cash provided by operating activities
Net cash provided by operating activities
Capital expenditures, including capitalized software and other intangibles
Proceeds from sale of assets
Payments for acquisition of businesses, net of cash acquired
Distributions from unconsolidated affiliates
Purchases of investments
Proceeds from sale of investments
Other investing activities
Net cash (used in) provided by investing activities
Debt proceeds
Debt repayments
Net proceeds from (repayments of) commercial paper and short-term borrowings
Payments of debt financing costs
Proceeds from issuance of treasury stock
Purchases of treasury stock, including employee shares withheld for tax obligations
Settlement activity, net
Distributions paid to noncontrolling interests and redeemable noncontrolling interests
Payments of acquisition-related contingent consideration
Other financing activities
Net cash provided by (used in) financing activities
Net cash provided by (used in) operating activities
Net cash provided by investing activities
Net cash flows from discontinued operations
Effect of exchange rate changes on cash and cash equivalents
Net change in cash and cash equivalents

Based on: 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

Net income trend
The net income shows significant volatility over the periods analyzed. There is a notable peak in December 2017 at 546 million USD, followed by fluctuations with a sharp decrease to 9 million USD in June 2020, likely reflecting extraordinary impacts. The overall trend towards 2022 shows an increased level, culminating in 682 million USD in March 2022, indicating recovery and growth after the dip.
Depreciation and amortization
Depreciation and amortization expenses exhibit an increasing trend from 68 million USD in early 2017 to 313 million USD by March 2022. Notably, amortization of acquisition-related intangible assets jumps substantially from 45 million USD at the end of 2018 to a peak around 560 million USD at the end of 2019, stabilizing somewhat thereafter but remaining elevated. This increase suggests ongoing acquisition activity and integration costs.
Operating activities
Net cash provided by operating activities fluctuates but generally trends upward from 463 million USD in March 2017 to a peak of 1343 million USD in March 2021. The periods in 2019 to early 2021 show particularly strong cash generation. Adjustments to reconcile net income to net cash from operations also increase significantly, supporting the strengthening cash flow.
Investing activities
Cash flow from investing activities varies widely, with large negative outflows notably in 2019, correlating with substantial payments for acquisition of businesses, including a very large net cash outflow of over 16 billion USD in September 2019. Proceeds from sales of assets spike in certain quarters such as December 2019 (584 million USD), providing intermittent offsets. Capital expenditures steadily increase over time from about 76 million USD to over 331 million USD, indicating sustained investment in capital and software.
Financing activities
Net cash from financing activities shows considerable volatility, with major inflows in mid-2019 coinciding with large debt proceeds of several billion USD, and subsequent repayments maintaining a similarly high level. Treasury stock purchases are consistently high, reflecting ongoing share repurchase programs, with especially large outflows seen in 2020 and 2021. Debt repayments generally increase through the periods, indicating active debt management.
Balance sheet related operational items
Changes in accounts receivable, prepaid expenses, contract costs, and liabilities display significant variation across quarters, impacting working capital and cash flow. Notably, contract costs are generally negative, suggesting amortization or usage of deferred contract-related expenditures. The variability in these items contributes to fluctuations in cash flow from operations.
Other notable adjustments and gains
There are periodic non-cash impairment charges, especially from mid-2019 to 2021, which may reflect asset write-downs linked to business conditions or strategic shifts. Gains on sale of assets underline occasional significant disposals. Foreign currency gains/losses on financing activities and settlements of hedge contracts introduce some volatility in reported figures but on a relatively smaller scale compared to other items.
Summary insights
The financial data portray a company undergoing substantial operational changes and strategic investments, including acquisitions and capital expenditures. The period from 2019 to 2021 is particularly characterized by high acquisition activity, resulting in elevated intangible asset amortization and sizable investing cash outflows. Despite occasional sharp net income drops (notably mid-2020), operating cash flows remain generally strong, supporting ongoing financing activities such as debt repayments and share repurchases. The overall trends highlight resilience and growth potential, tempered by significant financial management complexities.