Revenue and profitability
- Revenue: $2,515,386,000 in QQ4 2024; YoY change +3.35%; QoQ change -3.31%.
- Gross profit: $1,563,089,000; gross margin 62.14% (0.6214).
- Operating income: $833,148,000; operating margin 33.12% (0.3312); YoY operating income growth +67.06%; QoQ growth +75.19%.
- Net income: $567,173,000; net margin 22.55% (0.2255); YoY net income growth +56.98%; QoQ growth +79.98%.
- Earnings per share (EPS): $2.26; diluted EPS $2.25; YoY EPS growth +62.59%; QoQ +82.26%.
Cash flow and liquidity
- Operating cash flow (OCF): $653,427,000.
- Free cash flow (FCF): $469,423,000; FCF per share $1.869.
- Cash and cash equivalents: $2,538,416,000; net cash from investing activities: cash outflow driven by acquisitions and capex.
- Net debt: $14,276,965,000; total debt: $16,815,381,000; cash balance provides a partial offset to leverage.
- Dividends paid: $62,333,000; share repurchases: $708,132,000; indicative of capital return and ongoing buyback activity.
Balance sheet and leverage
- Total assets: $46,890,255,000; total liabilities: $23,873,688,000; stockholders’ equity: $22,280,686,000.
- Long-term debt: $15,164,659,000; total debt: $16,815,381,000; debt-to-equity 0.77; debt ratio 0.366; interest coverage 3.84x.
- Goodwill and intangible assets: $35,218,260,000 (with goodwill $26,286,318,000; intangible assets $8,931,943,000).
- Liquidity measures: current ratio 0.965; quick ratio 0.965; cash ratio 0.438; days sales outstanding (DSO) 96.7; days payable 30.25; cash conversion cycle ~66.45 days.
Valuation and efficiency
- Price/earnings: ~12.35x; Price to book value: 1.26x; Price to sales: 11.14x; EV/EBITDA: ~30.85x; EV/FCF: not provided directly but implied high cash flow efficiency.
- Dividend yield: ~0.22%; payout ratio: ~11%; operating cash flow yield: ~6.3% (operating cash flow per share 2.60 vs share price context).
- Efficiency metrics (asset turnover, turnover of receivables, etc.) show modest asset utilization; working capital dynamics reflect a cash-heavy business with periodic acquisitions.
Four-quarter view and YoY trend
- Q4 2024 revenue: $2.516B; Q3 2024 revenue: $2.601B; Q2 2024 revenue: $1.971B; Q1 2024 revenue: $2.420B. The sequence indicates a peak in Q3 with a modest step-down into Q4, consistent with seasonality in payments volumes and mix.
- YoY growth in key metrics for the four-quarter window highlights revenue +3.35%, gross profit +3.41%, operating income +67.06%, net income +56.98%, and EPS +62.59%.