Does FISERV INC have an economic moat?

Based on its FY2025 SEC filings, the Moat Index scores FISERV INC (FISV) 58.1 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 100, returns on capital 34, balance-sheet safety 32, capital discipline 57.

Is FISV stock trading below its intrinsic value?

Against a deliberately conservative owner-earnings model (9% discount rate, 0% assumed growth, capped at 4%), estimated intrinsic value is $71.10 per share versus a recent price of $50.63 — 29% below value. This is an educational estimate computed from primary SEC filings, not investment advice.

How has FISV's Moat Score changed over time?

The record logs 3 readings since Jul 17, 2026; the latest reads 58.1 out of 100 (shallow moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

The Moat Index

FISERV INC

FISV · Technology · $27.1B mkt cap · FY2025 filings · Shallow moat ·

On the watchlist

Shallow moat

The four filters

Pricing power100

Median gross margin 87.1% over 3y, very stable.

Returns on capital34

Median ROIC 8.9%, above the 9% hurdle in 50% of years.

Balance-sheet safety32

Net debt/EBITDA n/ax, interest coverage 4x.

Capital discipline57

Owner earnings +5.5%/yr, share count n/a.

Margin of safety

Above valueOn sale

29% below value

Owner earnings (normalized): $3.4B
Est. intrinsic value / share: $71.10
Recent price: $50.63
Discount to value: 29% below value

Conservative model: 9% discount rate, 0% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

20 years of fundamentals

The business, in plain English

Across the filed record, revenue grew from $3.7B (FY2007) to $21.2B (FY2025) — about 10.2% a year compounded over 18 years.

It earned 18.9% on invested capital in FY2025, with a median of 22.3% across 18 filed years. The Returns on Capital filter above scores it 34/100.

The balance sheet carried $24.8B of total debt in FY2024. Balance-Sheet Safety scores it 32/100.

The share count rose 251.1% between FY2009 and FY2025 — existing owners have been diluted over the record. Capital Discipline scores it 57/100.

Put together: Pricing Power is the strongest of the four filters (100/100) and Balance-Sheet Safety the weakest (32/100), which is how FISV lands at 58/100 — a Shallow moat.

This breakdown is generated from the filed numbers and sub-scores above — no outside narrative, no estimates. Where a filing doesn’t disclose an input, the sentence that would need it is omitted instead of guessed.

RevenueSales, as filed$21.2B FY2025

Gross marginRevenue kept after cost of goods87.2% FY2018

Return on invested capitalOperating profit on the capital employed18.9% FY2025

Owner earningsCash an owner could take out$1.7B FY2025

Gaps in a line mean that item isn’t in FISV’s filings for that year — the series is never interpolated or estimated. The Table view lists every filed value, including operating and net margins, total debt, and share count.

Moat Score history

Moat Score over timeLast scored reading of each day, on the 0–100 scale58.1 / 100

Score history begins Jul 17, 2026 — the record builds from here and can’t be backfilled.

Tier changesSame-methodology crossings of the Wide / Narrow / Shallow bars

None yet — FISV has read Shallow moat for every logged capture since Jul 17, 2026.

Scores are logged append-only and never overwritten — this record can’t be backfilled, which is exactly why it’s worth keeping.

Technology context

#143 of 532 scored Technology companies, ranked by Moat Score.

Nearest peers by Moat Score

#141DELL Dell Technologies Inc.58.2 out of 100, Shallow moatShallow moat
#142DIOD DIODES INC /DEL/58.1 out of 100, Shallow moatShallow moat
#144MMS Maximus, Inc.58.0 out of 100, Shallow moatShallow moat
#145SHOP Shopify Inc.57.9 out of 100, Shallow moatShallow moat

Compare FISV with its nearest peers →All Technology companies on the Index →

Common questions about FISV

Does FISERV INC have an economic moat?: Based on its FY2025 SEC filings, the Moat Index scores FISERV INC (FISV) 58.1 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 100, returns on capital 34, balance-sheet safety 32, capital discipline 57.
Is FISV stock trading below its intrinsic value?: Against a deliberately conservative owner-earnings model (9% discount rate, 0% assumed growth, capped at 4%), estimated intrinsic value is $71.10 per share versus a recent price of $50.63 — 29% below value. This is an educational estimate computed from primary SEC filings, not investment advice.
How has FISV's Moat Score changed over time?: The record logs 3 readings since Jul 17, 2026; the latest reads 58.1 out of 100 (shallow moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell FISV. See the disclaimer.