Fiserv (FISV) Investor Day 2026 summary

Strategic transformation and execution

• Launched the One Fiserv action plan after a comprehensive review, focusing on client service, product delivery, tech resilience, and disciplined capital allocation.

• Leadership and culture changes, including new hires from top financial and technology firms, have been implemented to address past challenges and drive sustainable financial performance.

• Five strategic pillars guide execution: client-first service, Clover as the SMB operating system, product innovation, AI-driven productivity (Project Elevate), and disciplined capital allocation.

• Sale of a majority stake in the ATM business and ongoing portfolio review align with the focus on core, high-return opportunities, including divestiture of ATM Managed Services, Cash and Logistics, and MoneyPass to Bridgeport Partners, with $275-300M after-tax proceeds and a 49% JV interest.

• No forced core migrations; modernization is modular and client-driven, with significant investment in service and technology.

Strategic direction and growth initiatives

• Focused on transforming from a strong platform to a high-performing company, leveraging large and expanding end markets and AI-driven capabilities for durable growth.

• Expanding synergies between financial and merchant solutions, with deep multi-product relationships and a diversified client base across financial institutions, enterprises, and SMBs.

• Investing in modernization, open modular platforms, and international expansion to deepen client relationships and drive ARPC.

Financial guidance and outlook

• Targeting 4%-6% compounded adjusted revenue growth from 2026-2029, with more than $23 billion in adjusted revenue by 2029.

• Expecting adjusted operating margin to exceed 37% by 2029, driven by baseline leverage and over 200 basis points from Project Elevate.

• Free cash flow conversion is targeted at roughly 90%, with over $13.5 billion expected from 2027-2029.

• Double-digit adjusted EPS growth targeted, with more than $12 in adjusted EPS by 2029.

• Majority of free cash flow to be returned to shareholders via share repurchase, while reducing leverage to 2.5x by 2029 and maintaining investment-grade rating.

• 2026 guidance: 1-3% adjusted and organic revenue growth, ~34% adjusted operating margin, and $8.00-$8.30 adjusted EPS.