FISV - Fiserv: A Good Price For A Growing Fintech Company
- Fiserv is successfully positioned in almost every market segment both in terms of product and geographical mix, which lets company grow ahead of the rapidly-developing fintech market (8-12% 2021E).
- Company has solid financials with high revenue growth, FCF yield which lets company decrease net leverage and resume share buy-backs in the foreseeable future.
- FISV trades below its 23x 3-year average and in-line with the S&P 500 (vs. 5% premium 3-year average and the Lowest PEG ratio among peers).
- Company's successful M&A track record is key to unlocking shareholder value in upcoming years.
- COVID-19 recovery could foster offline consumption boosting FISV’s brick-and-mortar merchant acceptance services.
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Fiserv: A Good Price For A Growing Fintech Company