Valuation
26% of the score
96median 13
Fiserv is valued at 7.1x its operating profit before acquisition amortisation (EBITA), including debt: a low multiple.
25x
20x
15x
10x
6x
7.1x
Full points at 6x or less, none from 25xfull points
FISVFiserv
$46.01-66% 1Y
$46.01
$45.9752 weeks$136.41
RyuScore
Seven criteria, each scored 0 to 100 on a published scale, weighted into one number.
RyuScore 74 out of 100, Above average
Today's price. Only valuation depends on it.
Above average. Fiserv scores higher than 89% of the 1,794 companies Ryufin scores.
Carried by valuation and return on new capital, held back by return on capital and the balance sheet.
Financial Services median 58 · all companies 50
Return on capital
18% of the score
28median 34
Over 7 years the business earned 5.7% a year after tax on the capital it uses.
2%
8%
15%
25%
5.7%
None at 2% or less, full points from 25%full points
7 years agolatest 8.5%
Return on new capital
16% of the score
100median 49
For every dollar of operating profit earned over 6 years, yearly profit grew by 17 cents. It did so while using less capital than before.
-5%
12%
17%
None at minus 5 cents, full points from 12 centsfull points
Capital allocation
14% of the score
100median 64
How management spends the money: shares bought back or issued, and whether assets grow faster than the business they serve.
Share countDown 4.3% a year over 5 years: buybacks
1005%
-3%
-4.3%
0 pointsfull points
Assets against salesAssets grew 1.4% a year, sales 7.4%
10012%
-2%
-5.9%
0 pointsfull points
Cycle position
12% of the score
57median 62
Today's operating margin of 27% is 1.10x its normal 25%: above its usual level. Normal is half the 10 year median, half the last four years, so a margin that has held is not taken for a peak.
2x
1.5x
1x
0.7x
1.1x
A trough earns points, a peak costs themfull points
10 years agonow 27%
Balance sheet
8% of the score
24median 50
What the debt weighs against the profit that has to carry it.
Net debt to EBITDA3.5x a year of EBITDA
264.5x
0.5x
3.5x
0 pointsfull points
Interest coverOperating profit covers interest 4x
221.5x
12x
3.8x
0 pointsfull points
Earnings quality
6% of the score
88median 90
Whether the reported profit arrives as cash, and whether the accounts show the usual signs of stretching.
Cash against profitOperating cash flow was 1.84x profit over 3 years
1000.7x
1x
1.3x
1.8x
0 pointsfull points
AccrualsCash ran ahead of profit by 3.3% of assets
768%
0%
-8%
-3.3%
0 pointsfull points
How the RyuScore works
Each criterion earns 0 to 100 points on the scale drawn under it, and the RyuScore is their average weighted 26, 18, 16, 14, 12, 8 and 6. Scales bend in the company's favour between their ends, so an ordinary figure is never already near zero. Where a criterion cannot be measured from the filings it is taken out and the remaining weights scale up; a company needs 60% of the weight covered, and always a price, to get a score.
Built from the company's annual and quarterly filings with the SEC and today's share price. Banks, insurers and property trusts are not scored: their debt is their raw material, so these yardsticks mean something else there.