Global Payments Inc. (GPN) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+19.5%

$118.55

vs $99.17 price

Levered DCF

$99.31

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

0.67

Distress zone

Rating

C+

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	13.25×	18.13×	33.6×	242.24×	40.96×	110.47×	84.13×	36.19×
P/B	0.81×	1.28×	1.44×	1.23×	1.54×	2.36×	1.3×	4.1×
P/S	2.41×	2.82×	3.44×	3.05×	4.64×	8.68×	7.37×	4.86×
EV / EBITDA	9.31×	9.78×	13.42×	17.12×	16.39×	28.73×	26.02×	16.32×
Gross margin	72.6%	62.8%	61.4%	57.9%	55.7%	50.8%	57.8%	67.5%
Operating margin	19.1%	22.6%	22.9%	22.0%	20.6%	16.4%	21.3%	23.6%
Net margin	18.2%	15.5%	10.2%	1.2%	11.3%	7.9%	8.8%	13.4%
Current ratio	1.69×	0.97×	0.99×	0.92×	1.06×	1.01×	1.22×	1.03×
Debt / equity	0.96×	0.75×	0.76×	0.64×	0.47×	0.36×	0.35×	1.46×
Interest coverage	2.27×	3.6×	3.35×	4.4×	5.26×	3.53×	3.43×	4.05×
Dividend yield	1.3%	0.9%	0.8%	1.0%	0.7%	0.4%	0.2%	0.0%
Payout ratio	17.0%	16.1%	26.4%	245.7%	26.9%	39.9%	20.1%	1.4%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	6.1%	7.0%	4.3%	0.5%	3.8%	2.1%	1.5%	11.3%
Return on invested capital	2.5%	4.6%	4.2%	2.3%	3.6%	2.6%	2.2%	6.3%
Return on assets	2.6%	3.3%	2.0%	0.2%	2.1%	1.3%	1.0%	3.4%
Free cash flow yield	11.0%	10.0%	4.8%	6.0%	5.8%	2.9%	3.0%	5.5%
Earnings yield	7.5%	5.5%	3.0%	0.4%	2.4%	0.9%	1.2%	2.8%
Enterprise value	$32.1B	$42.8B	$48.4B	$39.6B	$49.7B	$72.3B	$44.2B	$21B
Net debt / EBITDA	3.93×	3.26×	4.23×	5.31×	3.33×	3.1×	4.71×	3.59×
Cash conversion cycle (days)	-11	8	14	18	15	26	40	12