Fiserv Inc. (NASDAQ:FISV)

The analysis of the financial data over the observed period reveals several key trends in revenue, operating income, and net income attributable to the company.

Revenue

Revenue showed fluctuations in the early years, with a peak in 2008 followed by a decline in 2009 and 2010. Starting from 2011, there was a consistent upward trend, with revenues increasing steadily each year. Notably, there was a substantial surge in revenue starting in 2019, with revenue more than doubling from 5,823 million in 2018 to 10,187 million in 2019, and continuing to grow in subsequent years, reaching 16,226 million by 2021.

Operating Income

Operating income remained relatively stable in the earlier part of the period, with minor fluctuations between 730 million and around 1,000 million. From 2008 onward, operating income demonstrated a gradual upward trajectory, peaking at 1,753 million in 2018. After a slight dip in 2019, operating income sharply increased again in 2020 and 2021, reaching 2,288 million in the last recorded year, indicating improved operational efficiency or scaling benefits alongside revenue growth.

Net Income Attributable to the Company

Net income followed a somewhat volatile path in the initial years, declining from 516 million in 2005 to 439 million in 2007, then recovering in 2008. From 2011 onward, net income generally trended upward, with notable increases from 2015 to 2017, where it rose from 712 million to 1,246 million. Although net income decreased slightly in 2018 and again in 2019, it rebounded in 2020 and further increased in 2021, reaching 1,334 million, reflecting strengthened profitability towards the end of the period.

Overall, the financial data indicates that after early-year fluctuations, the company achieved consistent growth in revenue and profitability from around 2011 onwards, with pronounced expansion and improved operational performance in the last three years of the period. This suggests successful strategic initiatives or market conditions that substantially boosted financial metrics.

Current Assets

The current assets demonstrated a notable downward trend from 2008 to 2010, decreasing from 4,204 million USD in 2008 to 1,277 million USD in 2010. This decline stabilized somewhat during the subsequent years, with a moderate increase to 1,975 million USD by 2017. After 2017, there was a substantial increase in current assets, peaking at 17,046 million USD in 2020. However, the level slightly declined again in 2021 to 16,219 million USD, followed by an increase to 18,870 million USD by the end of 2021.

Total Assets

Total assets followed a different pattern, starting at 6,040 million USD in 2005 and increasing steadily to reach 11,262 million USD by 2018. A significant surge occurred in 2019, with total assets rising dramatically to 77,539 million USD. This elevated level persisted through 2020 and 2021, with a slight reduction to 74,619 million USD in 2020 and a marginal increase again to 76,249 million USD in 2021. The data suggest a major acquisition or asset revaluation around 2019, resulting in a marked expansion of the company's asset base.

The analysis of the financial data reveals distinct trends and fluctuations in liabilities, debt, and shareholders' equity over the period examined.

Current liabilities

The reported current liabilities data is unavailable for the initial years but from 2008 onward it shows variation with a general increasing tendency. Values ranged from 891 million USD in 2011, experiencing some fluctuations before a sharp increase to 15,727 million USD in 2020, followed by a slight increase and then a further rise to 18,295 million USD in 2021. This indicates a growing short-term obligation component in recent years.

Total liabilities

Total liabilities started at 3,574 million USD in 2005, followed by an increase peaking at 9,379 million USD in 2007. After a decline and fluctuations until 2014, the figure escalated significantly from 8,969 million USD in 2018 to 42,682 million USD in 2020. There is a marginal decline in 2021, but liabilities remain elevated at 44,299 million USD. This trend suggests a substantial rise in the company’s overall financial obligations over the latter part of the period.

Total debt

Total debt followed a similar pattern to total liabilities, with amounts increasing moderately between 2005 and 2007, reaching 5,405 million USD in 2007, then decreasing and stabilizing around the 3,000 to 4,000 million USD range until 2013. Post-2013, debt levels increased sharply, peaking at 21,899 million USD in 2020. A slight reduction occurs in 2021 to 21,237 million USD, yet debt remains substantially higher compared to earlier years. This indicates a marked increase in borrowing or debt financing during the latter years.

Total shareholders’ equity

Shareholders’ equity has demonstrated relative stability from 2005 through 2013, ranging between approximately 2,400 to 3,600 million USD with minor fluctuations. However, in 2019 equity spikes dramatically to 32,979 million USD, maintaining near that level thereafter, slightly decreasing to 30,952 million USD in 2021. This suggests an extraordinary event or revaluation that caused equity to surge substantially, reflecting enhanced net asset positions or possible capital restructuring.

Overall, the data shows significant increases in total liabilities and total debt in the latter years, coupled with a dramatic rise in shareholders’ equity around 2019. These patterns indicate considerable changes in financial structure, potentially due to acquisitions, capital infusions, or strategic financing decisions. The rise in current liabilities also points to increased short-term financial commitments. Monitoring the sustainability and impact of these debt levels and equity changes would be critical for assessing financial health going forward.

The financial data indicates evolving patterns in cash flows from operating, investing, and financing activities over the examined period.

Net cash provided by operating activities

Operating cash flow displayed a general upward trend from 2005 through 2021, starting at $597 million and reaching $4,034 million by the end of 2021. Notably, there was a substantial increase between 2019 and 2020, where cash flow rose from $1,552 million to $2,795 million and then further to $4,147 million in 2020. The years 2019 through 2021 witnessed the highest operating cash inflows of the entire period, indicating strengthened operational efficiency or increased revenue generation during these years.

Net cash used in or provided by investing activities

Investing cash flows exhibited significant variability. Early years such as 2007 showed a large negative cash flow (-$4,474 million), while other years like 2008 presented a positive inflow of $206 million. The most pronounced outflow occurred in 2019, with cash used in investing activities at -$16,602 million, a stark contrast to other years. Between 2020 and 2021, investing cash flows returned to negative values but at a much lower magnitude (-$341 million in 2020 and -$1,630 million in 2021). This pattern suggests aggressive investment or acquisition activity around 2019 followed by a moderation in subsequent years.

Net cash provided by or used in financing activities

Financing activities cash flows were highly fluctuating and inversely correlated with investing cash flows in certain years. For example, 2007 displayed a large positive financing cash flow of $4,023 million, likely financing the significant investing outflow during the same period. Similarly, in 2019, a large inflow of $14,191 million from financing activities aligns with the substantial investing outflow, suggesting reliance on financing to support major acquisitions or capital expenditures. In 2020 and 2021, financing cash flows showed notable negative values (-$3,836 million and -$1,741 million respectively), indicating a repayment of debt, share repurchases, or dividend distributions during these periods.

The analysis of the annual financial data reveals several important trends in earnings performance for the company over the period from 2005 to 2021.

Earnings per Share

Both basic and diluted earnings per share (EPS) display a general upward trajectory from 2005 through 2018, indicating a strengthening profitability trend during this period. Basic EPS increased from US$0.69 in 2005 to a peak of US$2.95 in 2017, followed by a slight decline and volatility between 2018 and 2021. Diluted EPS followed a similar pattern, increasing from US$0.68 to US$2.89 by 2017, with subsequent decreases and fluctuations through 2021.

The EPS figures for 2008 show an interesting uptick relative to the preceding years, rising from US$0.66 to US$0.88, which could reflect operational improvements or other favorable factors during a generally challenging economic environment globally.

Post-2017, the data reveals a notable decline in EPS by 2019 and 2020, with basic EPS falling to US$1.74 and US$1.42 respectively. However, a recovery is observed in 2021 with EPS increasing to US$2.01, suggesting some rebound in earnings capacity.

Dividend per Share

No dividend per share data is recorded for the entire period under review, indicating that the company either did not pay dividends, or these figures were not reported or available.

Overall, the corporation demonstrated consistent growth in earnings per share for over a decade, reaching a peak before experiencing a correction and modest recovery by the end of the examined period. The absence of dividend information indicates a probable focus on reinvestment or other strategic priorities rather than distribution of earnings to shareholders through dividends.