Question 1

What is Global Payments's P/FCF ratio?

Accepted Answer

Global Payments (GPN) P/FCF ratio is 17.9× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month free cash flow, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/FCF ratio calculated?

Accepted Answer

P/FCF = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Free Cash Flow, where Free Cash Flow = Operating Cash Flow − Capital Expenditures. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/FCF ratio?

Accepted Answer

The price-to-free-cash-flow (P/FCF) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) free cash flow. It is calculated as market cap ÷ TTM free cash flow, where free cash flow = operating cash flow − capital expenditures. Because FCF cannot be inflated by non-cash accounting items, P/FCF is often considered a cleaner measure of "earnings-power valuation" than P/E — especially for capital-intensive businesses where depreciation diverges from real cash outflows.

Question 4

What is a good P/FCF ratio for Global Payments?

Accepted Answer

Mature companies that consistently convert profit into cash often trade at 15–25× P/FCF; capital-intensive businesses with lumpy capex typically trade lower. Compare against sector peers and against the company's own multi-year average — single-year P/FCF can be distorted by working-capital swings. For Global Payments specifically, the relevant sector benchmark is the current sector median of 12.0×.

Question 5

Is Global Payments's P/FCF ratio high or low?

Accepted Answer

Global Payments's P/FCF ratio of 17.9× is above its own 5-year average of 15.2× and above the sector median of 12.0×. That places the current reading at the 73th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Global Payments's historical P/FCF ratio range?

Accepted Answer

In the available daily series, Global Payments (GPN) P/FCF ratio has ranged from a low of 3.5× in 2009 to a high of 396.9× in 2017. The 5-year average is 15.2× and the 5-year median is 16.2×.

Question 7

What was Global Payments's P/FCF ratio in 2025?

Accepted Answer

Global Payments (GPN) P/FCF ratio at the end of 2025 was 9.1×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month free cash flow figure available at that date.

Question 8

Why does Global Payments's P/FCF ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (free cash flow). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$18.6B	$2.04B	9.1×	-0.7×	Dec 31, 2025
2024	$28.1B	$2.86B	9.8×	-10.9×	Dec 31, 2024
2023	$33.1B	$1.59B	20.8×	+4.6×	Dec 31, 2023
2022	$26.4B	$1.63B	16.2×	-0.8×	Dec 31, 2022
2021	$38.9B	$2.29B	17.0×	-17.3×	Dec 31, 2021
2020	$64.4B	$1.88B	34.3×	-16.3×	Dec 31, 2020
2019	$54.9B	$1.08B	50.6×	+32.4×	Dec 31, 2019
2018	$16.3B	$893M	18.3×	-30.0×	Dec 31, 2018
2017	$16B	$330M	48.3×	-8.2×	Dec 31, 2017
2016	$10.5B	$186M	56.5×	+40.0×	Nov 30, 2016
2015	$9.18B	$556M	16.5×	—	Nov 30, 2015
2014	$5.61B	-$64.2M	—	—	Nov 30, 2014
2013	$4.55B	$442M	10.3×	-15.1×	Nov 30, 2013
2012	$3.46B	$136M	25.4×	+16.1×	Nov 30, 2012
2011	$3.47B	$375M	9.3×	—	Nov 30, 2011
2010	$3.31B	-$467M	—	—	Nov 30, 2010
2009	$4.16B	$923M	4.5×	-4.5×	Nov 30, 2009
2008	$2.67B	$296M	9.0×	-9.6×	Nov 30, 2008
2007	$3.42B	$183M	18.6×	-2.2×	Nov 30, 2007
2006	$3.71B	$178M	20.8×	+8.3×	Nov 30, 2006
2005	$3.44B	$275M	12.5×	-16.7×	Nov 30, 2005
2004	$2.12B	$72.6M	29.2×	-69.9×	Nov 30, 2004
2003	$1.71B	$17.3M	99.1×	+89.7×	Nov 30, 2003
2002	$1.06B	$112M	9.4×	—	Nov 30, 2002


UMB Financial (UMBF)	8.8×
Federal Agricultural Mortgage (AGM)	8.6×
T. Rowe Price (TROW)	8.6×
First Financial (THFF)	8.3×
Old Republic International (ORI)	8.0×
1st Source (SRCE)	8.0×
Auburn National Bancorporation (AUBN)	7.7×
Eagle Financial Services (EFSI)	7.5×
PayPal (PYPL)	7.5×
Assurant (AIZ)	7.5×
Cincinnati Financial (CINF)	7.1×
Alerus Financial (ALRS)	7.0×
American Financial Group (AFG)	6.8×
Hartford Insurance Group (HIG)	6.5×
Travelers Companies (TRV)	6.3×
Invesco (IVZ)	6.1×
Arch Capital Group (ACGL)	5.9×
Principal Financial Group (PFG)	5.5×
Allstate (ALL)	4.7×
Everest Group (EG)	4.6×
Capital One Financial (COF)	3.9×
Prudential Financial (PRU)	3.5×
Mercury General (MCY)	3.4×
MetLife (MET)	2.8×
StoneX Group (SNEX)	0.8×

P/FCF Ratio for Global Payments (GPN) 2002-2026

P/FCF Ratio daily chart for Global Payments (GPN)

Historical P/FCF Ratio for Global Payments (GPN) from 2002 to 2025

About P/FCF Ratio at Global Payments (GPN)

Global Payments P/FCF Ratio by Year

Global Payments P/FCF Ratio 2025: 9.1×

Global Payments P/FCF Ratio 2024: 9.8×

Global Payments P/FCF Ratio 2023: 20.8×

Global Payments P/FCF Ratio 2022: 16.2×

Global Payments P/FCF Ratio 2021: 17.0×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

Global Payments (GPN) Key Financials