Global Payments

Global Payments processes card payments for merchants of all sizes in more than 175 countries. On January 9, 2026, it bought Worldpay from FIS and GTCR and sold its Issuer Solutions business, which served card issuers, to FIS. It is now a pure merchant business with three segments. SMB serves small and mid-size businesses with payments and point-of-sale software, including its Genius platform.

Enterprise serves large merchants, mostly through Worldpay. Platforms sells payments through software companies that embed them in their products. Global Payments earns fees on each transaction it processes and fees for software and hardware. In Q3 2026, GAAP revenue was $3.31 billion.

The market doubts that the new Global Payments can grow faster than a slow, crowded market. Merchant payment processing faces strong competitors in small business point-of-sale software and in online payments, and investors fear that price competition keeps growth low. Normalized adjusted net revenue grew only a little more than 4% in Q3 2026, and in August 2026 the company cut its 2026 outlook to growth of about 4% to 5% and adjusted EPS of $13.60 to $13.80, because the conflict in the Middle East hurt its travel business. It kept that outlook in November 2026.

The Worldpay purchase also adds integration risk and debt: long-term debt was $22.5 billion at September 30, 2026. GAAP results are much lower than adjusted results, because of deal costs and the amortization of acquired intangibles. For the gap to close, four things must be true. Normalized revenue growth must stay at about 4% to 5% or improve in 2027.

Normalized adjusted operating margin must expand by about 150 basis points in 2026, as guided, which shows that the Worldpay integration saves costs. Genius must keep winning merchants in SMB. The company must return more than $2 billion of capital in 2026 and about $7.5 billion from 2025 to 2027, while it keeps its leverage within its covenants. The full-year report and 2027 outlook in about February 2027 give the next evidence.

If growth and margins hold, the gap can close over the next four to six quarters. If growth stays near the low end, the market can keep the stock at a low multiple for longer.

1. Nov 5, 2026Passed

   Q3 2026 results: normalized growth and marginNormalized adjusted net revenue growth of about 4% or more and the 2026 outlook kept pass; another cut to the revenue or EPS outlook fails.Outcome: Normalized adjusted net revenue grew more than 4%, and Global Payments kept its 2026 outlook and its capital return plan.
2. Feb 5, 2027 · est.Pending

   Full-year 2026 results and 2027 outlookAbout 150 basis points of normalized margin expansion in 2026, more than $2 billion returned to shareholders and a 2027 outlook with faster growth pass; a weak 2027 outlook or higher leverage fails.
3. Q4 2027 · est.Pending

   Worldpay integration and the 2025 to 2027 capital return planAbout $7.5 billion returned to shareholders from 2025 to 2027 with leverage within covenants passes; a smaller return or a delayed integration fails.

Every passed and failed checkpoint across all picks

• November 5, 2026Global Payments reported Q3 2026 results. GAAP revenue was $3.31 billion, and adjusted net revenue was $3.18 billion, up more than 4% on a normalized basis. The normalized adjusted operating margin rose 220 basis points to 42.5%. GAAP diluted EPS was $1.06, and adjusted EPS rose 10% to $3.58. Global Payments kept its 2026 outlook and its plan to return more than $2 billion to shareholders in 2026. It raised its target for yearly Worldpay cost synergies to $650 million.
• September 23, 2026Global Payments published research that says consumers expect AI to make 15% of their purchases within five years.
• August 24, 2026Global Payments announced Genius World, its first event to show its full line of Genius point-of-sale products for retail, restaurant and enterprise merchants.

Last earnings

November 5, 2026 (8-K on sec.gov)

Next earnings

Expected about February 5, 2027. The company has not confirmed the date.

• 10-QQuarterly report for the period ended Sep 30, 2026Filed November 5, 2026 · gpn-20260930
• 8-KEarnings releaseFiled November 5, 2026 · Press release and exhibits
• 8-KChange to shareholder rights or bylawsFiled November 3, 2026 · Read it on sec.gov
• 10-QQuarterly report for the period ended Jun 30, 2026Filed August 5, 2026 · gpn-20260630
• 8-KEarnings releaseFiled August 5, 2026 · Press release and exhibits
• 10-QQuarterly report for the period ended Mar 31, 2026Filed May 8, 2026 · gpn-20260331
• 8-KOther company newsFiled May 7, 2026 · Read it on sec.gov
• 8-KEarnings releaseFiled May 6, 2026 · Press release and exhibits
• 8-KShareholder vote resultsFiled May 4, 2026 · Read it on sec.gov
• 8-KNew material agreement and New debt or financial obligationFiled March 12, 2026 · Read it on sec.gov

Every filing on SEC EDGAR (CIK 1123360)

• Merchant payment processing is competitive. Point-of-sale software companies and online payment companies compete for the same merchants, and this can push prices down. Normalized revenue grew only a little more than 4% in Q3 2026, and slower growth can keep the market's doubt in place.
• The Worldpay integration is large and complex. Global Payments must combine systems, teams and products while it keeps clients. Delays or client losses can cut the expected margin gains.
• Debt is high after the Worldpay purchase. Long-term debt, including its current portion, was $22.5 billion at September 30, 2026. The company also returns more than $2 billion to shareholders in 2026, so higher interest rates or lower cash flow can slow debt reduction.
• Payment volumes follow consumer spending. The conflict in the Middle East already hurt the travel business in 2026, and a weaker consumer would lower volumes in SMB and Enterprise.
• Card networks and regulators can change interchange and network rules. Global Payments must also keep its card network registrations and its bank sponsors to process payments.

Global Payments funds itself with unsecured senior notes, convertible notes, bank loans and commercial paper. Debt is the carrying amount of long-term debt, including its current portion, at September 30, 2026: $22.54 billion, of which $1.46 billion is due within 12 months. Read more

Yield at the current rate

1.0% (current annual rate, at today’s price)

Dividend yield

1.0% (last 12 months, at today’s price of $100.23)

Paid per share

$1.00 in the last 12 months (4 payments)

Current annual rate

$1.00 ($0.25 × 4 a year)

Payout ratio

17% of the last fiscal year’s earnings (the year that ended December 31, 2025)

Latest ex-dividend date

September 11, 2026, $0.25 per share

Dividends per share by year

From 2020 to 2025, the dividend grew by about 5.1% a year. From 2015 to 2025, the dividend grew by about 38.0% a year.

Source: company filings and market data, read on November 13, 2026. The ex-dividend date is the first day a buyer no longer gets the next payment.