GPN Global Payments Inc. Common Stock
$92.59
Price · Aug 18, 2026
Fundamentals as of Aug 5, 2026
52W Range
$61–$96
91% of range
Analyst Rating
HOLD
39 analysts
Price Target
$102
+10% upside
P/E (TTM)
16.0
ROE
6.2%
Net Profit Margin
18.2%
About Global Payments Inc. Common Stock Company overview from Wikipedia
Global Payments Inc. is an American multinational financial technology company that provides payment technology to merchants, issuers and consumers. In June 2021, the company was named to the Fortune 500. The company processes payments made through credit cards, debit cards, and digital and contactless payments.
Read more
Global Payments Inc. is an American multinational financial technology company that provides payment technology to merchants, issuers and consumers. In June 2021, the company was named to the Fortune 500. The company processes payments made through credit cards, debit cards, and digital and contactless payments.
History
Global Payments was founded in 1996 and spun off from National Data Corporation, its former parent company, in 2001. Global Payments has been an independent, publicly traded company on the New York Stock Exchange having the ticker symbol “GPN” since its spin off.
In 2009, it paid $75 million for United Card Service, Russia's leading credit card processing company. In 2011, Global Payments's United Card Service bought Alfa-Bank's credit card processing unit. In October 2012, it acquired the smaller Accelerated Payment Technologies for $413 million. In October 2014, it purchased Australian payment processing company Ezidebit for $305 million. In January 2015, it bought Payment Processing (also known as PayPros), a California company, for $420 million.
In March 2015, Global Payments bought Realex Payments, an Irish-based payments gateway services company, for €115 million. On April 25, 2016, Global Payments completed the acquisition of Heartland Payment Systems for $4.3 billion. Both Global Payments and its subsidiary Heartland Payment Systems were among the leading credit card processing companies in 2016, according to Business Insider. Its headquarters moved from Sandy Springs, Georgia to Atlanta, Georgia in 2016.
In 2017, Global Payments initiated acquiring divisions of Active Networks. In 2018, Global Payments completed the acquisition of AdvancedMD. Also in 2018, Global Payments completed the acquisition of Sentral Education.
On May 28, 2019, Global Payments announced a $21.5 billion merger with TSYS. The merger was expected to trigger a Federal Trade Commission investigation. However, no such investigation occurred.
In August 2022, Global Payments entered a definitive agreement to acquire EVO Payments Inc. for nearly $4 billion.
On May 1, 2023, the company announced that CEO Jeffrey M. Sloan would resign, effective June 1, 2023. COO Cameron M. Bready succeeded him as CEO and president. As of July 2023, no single COO of the company had been named. Instead, two individuals were appointed to oversee domestic and international operations as Senior Executive Vice Presidents: Vince Lombardo and Bob Cortopassi, respectively.
Starting in early 2024 and continuing into September, Global Payments began laying off staff. These layoffs took place in the US, Canada, UK and India, as well as other smaller regional markets. Approximately 5400 employees were laid off during this time. Just weeks before the September lay offs were announced, Global Payments reported its second quarter results. Global Payments reported a net income of $296.4 million, a significant increase of $46.6 million compared to $249.7 million in the same quarter of 2023.
In April 2025, Global Payments agreed to acquire Worldpay, a payments technology provider, for $22 billion from GTCR and FIS. As part of this deal, it also agreed to sell its Issuer Solutions business, TSYS, to FIS for $13.5 billion. In January 2026, following regulatory approvals in multiple jurisdictions, it was announced the acquisition had been completed with a final transaction valued at $24.25 billion.
TSYS Acquisition
On September 18, 2019, TSYS and Global Payments completed their merger agreement for $21.5 billion.
In January 2026, Global Payments sold TSYS to FIS for $13.5 billion.
Services and operations
Global Payments provides payment services directly to merchants and indirectly through other financial organizations. Its technology-enabled services also support integrated payments, e-commerce, and omni-channel services.
Global Payments operates in more than 100 countries and serves 3.5 million merchants as well as 1,300 financial institutions. The company processes more than 50 billion transactions per year. After merging with TSYS in 2019, Global Payments has nearly 24,000 employees.
In 2020, 63 percent of the company's revenue was derived from "Merchant Solutions" 26 percent from Issuer Solutions, and 11 percent from the Business and Consumer Solutions segment, which operates as NetSpend. Eighty percent of Global Payments Merchant Solutions revenue was from North America, 15 percent was from Europe, and five percent was from Asia.
As of 2023, Global Payments does not have a singular Chief Operating Officer (COO). Instead the company divides operations into two distinct branches: domestic "US Merchant Solutions" headed by Senior Executive Vice President Vince Lombardo and international and vertical markets headed by Senior Executive Vice President Bob Cortopassi. Current CEO Cameron M. Bready was formerly the COO of the company, but no COO was announced as part of the succession plan.
Data breaches and faults
In 2012, a data breach at Global Payments affected 1.5 million credit and debit card numbers. This breach eventually cost the company around $100 million. In 2015, a technical fault with Global Payments' systems led to thousands of British businesses being unable to accept credit card payments on Valentine's Day weekend.
Lawsuits
Story v. Heartland Payments Systems
In 2019, Global Payments subsidiary Heartland Payments Systems was sued by Florida resident Max Story, alleging that Heartland defrauded parents of school children by leading them to believe that fees collected by the MySchoolBucks online lunch payment service, which Heartland owns and operates and which is used by 2 million people with children in 30,000 schools in the US, were going to their children's schools when in fact the money was going to Heartland. Shortly after the lawsuit was filed, Heartland deposited $40,000 into Story's bank account in an attempt to nullify Story's legal standing to sue, but Story refused to accept the payment and reversed the deposit. To limit the number of people who could potentially join the lawsuit if it is granted class action status, Heartland also updated its terms of service in 2019 to require MySchoolBucks users to accept that they "will not be permitted to participate in the Story case as a class member."
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
GPN Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$92.59
Market Cap
$21.92B
P/E (TTM)
16.0
EPS (TTM)
$5.78
Revenue (TTM)
$7.71B
Div Yield
1.1%
ROE
6.2%
Debt/Equity
—
52W Range
$61 – $96
GPN Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
Configure
10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$7.71B
2016-12-31
→
2025-12-31
EPS
$5.78
2016-12-31
→
2025-12-31
Free Cash Flow
$2.04B
2017-12-31
→
2025-12-31
Margins
18.2%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
GPN
Peer Median
P/E (TTM)
16.0
29.0
P/S (TTM)
2.8
2.9
P/B
1.0
4.1
Price / FCF
10.7
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
GPN
Peer Median
Operating Margin
22.8%
—
Net Profit Margin
18.2%
15.1%
ROA
2.8%
5.4%
ROE
6.2%
21.1%
ROIC
6.1%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
GPN
Peer Median
Current Ratio
1.7
1.1
Quick Ratio
1.2
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
GPN
Peer Median
Revenue YoY
-0.39%
—
Revenue CAGR 3Y
-5.0%
—
Revenue CAGR 5Y
0.75%
—
EPS YoY
-6.2%
—
Net Income YoY
-10.8%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
GPN
Peer Median
Payout Ratio
17.0%
—
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield
1.1%
Payout Ratio
17.0%
5Y Div CAGR
—
| Ex-date | Amount |
|---|---|
| June 12, 2026 | $0.2500 |
| March 9, 2026 | $0.2500 |
| Dec. 12, 2025 | $0.2500 |
| Sept. 12, 2025 | $0.2500 |
| June 13, 2025 | $0.2500 |
| March 14, 2025 | $0.2500 |
| Dec. 13, 2024 | $0.2500 |
| Sept. 13, 2024 | $0.2500 |
| June 14, 2024 | $0.2500 |
| March 14, 2024 | $0.2500 |
| Dec. 14, 2023 | $0.2500 |
| Sept. 14, 2023 | $0.2500 |
| June 14, 2023 | $0.2500 |
| March 16, 2023 | $0.2500 |
| Dec. 15, 2022 | $0.2500 |
| Sept. 15, 2022 | $0.2500 |
| June 9, 2022 | $0.2500 |
| March 10, 2022 | $0.2500 |
| Dec. 15, 2021 | $0.2500 |
| Sept. 9, 2021 | $0.2500 |
GPN Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
39 analysts
- Strong Buy 7 17.9%
- Buy 10 25.6%
- Hold 20 51.3%
- Sell 2 5.1%
- Strong Sell 0 0.0%
12-Month Price Target
28 analysts · 2026-08-19
Median
$95.00
Now
$92.59
Low
$60.00
High
$194.00
Median target
$95.00
+2.6%
Mean target
$101.50
+9.6%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.00%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $3.46 | $3.48 | -0.02% |
| March 31, 2026 | $2.96 | $2.86 | 0.10% |
| Dec. 31, 2025 | $3.18 | $3.19 | -0.01% |
| Sept. 30, 2025 | $3.26 | $3.28 | -0.02% |
| June 30, 2025 | $3.10 | $3.09 | 0.01% |
| March 31, 2025 | $2.69 | $2.74 | -0.05% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| GPN | $18.32B | 13.4 | -0.39% | 18.2% | 6.2% | — |
| PYPL | $53.71B | 10.8 | 4.3% | 15.8% | 25.9% | — |
| XYZ | $39.19B | 31.0 | 0.30% | 5.4% | 6.0% | 42.8% |
| FISV | $52.66B | 10.6 | 3.6% | 16.4% | 13.2% | — |
| CPAY | $20.57B | 20.0 | 13.9% | 23.6% | 30.5% | — |
| AFRM | $22.48B | 460.9 | 38.8% | 1.6% | 1.8% | — |
| FIS | $42.27B | 91.0 | 5.4% | 3.6% | 2.6% | 36.9% |
| TOST | $20.92B | 63.4 | 24.1% | 5.6% | 17.3% | 25.9% |
| CHYM | $0 | -5.9 | 30.7% | -46.2% | -71.4% | 88.0% |
| JKHY | $18.81B | 28.9 | 7.2% | 19.2% | 22.2% | — |
| WEX | $5.11B | 17.6 | 1.2% | 11.4% | 27.5% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.71B | $7.74B | $7.38B | $8.98B | $8.52B | $7.42B | $4.91B | $3.37B | $3.98B | $3.37B | $2.77B | |
| Cost of Revenue | $2.11B | $2.03B | $2.07B | $3.78B | $3.77B | $3.65B | $2.07B | $1.10B | $1.93B | $1.60B | $1.02B | |
| SG&A Expense | $4.12B | $4.00B | $3.86B | $3.52B | $3.39B | $2.88B | $2.05B | $1.53B | $1.49B | $1.41B | $1.30B | |
| Operating Expenses | $5.95B | $5.76B | $6.06B | $8.34B | $7.16B | $6.53B | $4.12B | $2.63B | $3.42B | $3.01B | $2.32B | |
| Operating Income | $1.75B | $1.97B | $1.32B | $640M | $1.36B | $894M | $791M | $737M | $559M | $356M | $457M | |
| Other Non-op | $-495M | $-444M | $-534M | $-416M | $-314M | $-300M | $-273M | $-175M | $-166M | $-99M | $-39M | |
| Pretax Income | $1.26B | $1.53B | $782M | $224M | $1.04B | $594M | $518M | $562M | $393M | $257M | $417M | |
| Income Tax | $252M | $242M | $187M | $167M | $169M | $77M | $62M | $77M | $-101M | $36M | $108M | |
| Net Income | $1.40B | $1.57B | $986M | $111M | $965M | $585M | $431M | $452M | $468M | $202M | $278M | |
| EPS (Basic) | $5.79 | $6.18 | $3.78 | $0.41 | $3.30 | $1.95 | $2.17 | $2.85 | $3.03 | $1.38 | $2.07 | |
| EPS (Diluted) | $5.78 | $6.16 | $3.77 | $0.40 | $3.29 | $1.95 | $2.16 | $2.84 | $3.01 | $1.37 | $2.06 | |
| Shares (Basic) | 241,634,000 | 254,291,000 | 261,126,000 | 275,191,000 | 292,655,000 | 299,222,000 | 198,298,000 | 158,672,000 | 154,652,000 | · | 134,072,000 | |
| Shares (Diluted) | 242,008,000 | 254,845,000 | 261,698,000 | 275,576,000 | 293,669,000 | 300,516,000 | 199,134,000 | 159,271,000 | 155,528,000 | · | 134,922,000 | |
| EBITDA | $2.98B | $4.20B | $3.49B | $2.30B | $3.05B | $2.51B | $1.67B | $1.26B | $1.01B | · | $594M |
Balance Sheet 27
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $8.34B | $2.36B | $2.09B | $2.00B | $1.98B | $1.95B | $1.68B | $1.21B | $1.34B | $1.16B | $651M | |
| Receivables | $784M | $788M | $1.12B | $998M | $946M | $794M | $895M | $348M | $302M | $275M | $202M | |
| Inventory | · | · | · | · | · | · | · | · | · | · | $5M | |
| Prepaid Expense | $802M | $550M | $767M | $660M | $637M | $621M | $439M | $217M | $207M | $131M | $41M | |
| Current Assets | $12.60B | $6.03B | $8.07B | $6.31B | $4.71B | $4.59B | $4.37B | $3.38B | $4.30B | $3.12B | $3.29B | |
| PP&E (Net) | · | · | · | · | · | $1.58B | $1.38B | $654M | $588M | $526M | $374M | |
| PP&E (Gross) | · | · | · | · | · | $2.24B | $1.76B | $1.03B | $812M | $667M | $497M | |
| Accum. Depreciation | · | · | · | · | · | $900M | $615M | $504M | $314M | $227M | $180M | |
| Goodwill | $17.08B | $17.03B | $26.74B | $23.32B | $24.81B | $23.87B | $23.76B | $6.34B | $5.70B | $4.81B | $1.49B | |
| Intangibles | $4.23B | $4.61B | $10.17B | $9.66B | $11.63B | $12.02B | $13.15B | $2.49B | $2.18B | $2.09B | $560M | |
| Other Non-current Assets | $1.87B | $1.85B | $2.57B | $2.34B | $2.42B | $2.14B | $1.81B | $363M | $207M | $113M | $33M | |
| Total Assets | $53.34B | $46.89B | $50.57B | $44.81B | $45.28B | $44.20B | $44.48B | $13.23B | $13.00B | $10.66B | $5.78B | |
| Accounts Payable | $2.54B | $2.84B | $2.82B | $2.44B | $2.54B | $2.06B | $1.82B | $1.18B | $1.04B | $805M | $327M | |
| Current Liabilities | $7.46B | $6.25B | $8.13B | $6.90B | $4.46B | $4.55B | $3.58B | $3.27B | $3.82B | $2.85B | $3.02B | |
| Capital Leases | $306M | $330M | $411M | $440M | $551M | $448M | $397M | · | · | · | · | |
| Deferred Tax | $1.61B | $1.58B | $2.24B | $2.43B | $2.79B | $2.95B | $3.15B | $585M | $437M | $661M | $172M | |
| Other Non-current Liabilities | $522M | $550M | $723M | $648M | $739M | $751M | $610M | $176M | $221M | $96M | $19M | |
| Total Liabilities | $29.56B | $23.87B | $26.78B | $22.27B | $19.41B | $16.71B | $16.43B | $9.04B | $9.03B | $7.89B | $4.92B | |
| Long-term Debt | $21.55B | $16.33B | $16.37B | $13.50B | $11.41B | · | $9.13B | $5.13B | $4.66B | $4.44B | $1.74B | |
| Total Debt | · | · | · | · | · | · | $9.13B | $5.13B | $4.66B | · | $1.74B | |
| Common Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Paid-in Capital | $17.08B | $18.12B | $19.80B | $19.98B | $22.88B | $24.96B | $25.83B | $2.24B | $2.38B | $1.82B | $149M | |
| Retained Earnings | $5.94B | $4.77B | $3.46B | $2.73B | $2.98B | $2.57B | $2.33B | $2.07B | $1.60B | $1.14B | $795M | |
| AOCI | $-126M | $-613M | $-259M | $-406M | $-234M | $-202M | $-311M | $-310M | $-183M | $-323M | $-186M | |
| Stockholders' Equity | $22.89B | $22.28B | $23.00B | $22.30B | $25.63B | $27.33B | $27.86B | $3.99B | $3.79B | $2.63B | $758M | |
| Liabilities + Equity | $53.34B | $46.89B | $50.57B | $44.81B | $45.28B | $44.20B | $44.48B | $13.23B | $13.00B | $10.66B | $5.78B | |
| Shares Outstanding | 236,692,592 | 248,708,899 | 260,382,746 | 263,081,872 | 284,750,452 | 298,332,459 | 300,225,590 | 157,961,982 | 159,180,317 | 152,185,616 | 130,557,676 |
Cash Flow 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $1.23B | $1.22B | $1.14B | $1.66B | $1.69B | $1.61B | $878M | $523M | $451M | · | $138M | |
| Stock-based Comp | $154M | $164M | $209M | $163M | $181M | $149M | $90M | $58M | $39M | · | $21M | |
| Deferred Tax | $-284M | $-300M | $-379M | $-304M | $-189M | $-165M | $-109M | $-2M | $-253M | · | $89M | |
| Amort. of Intangibles | $997M | $1.37B | $1.32B | $1.26B | $1.30B | $1.26B | $667M | $378M | $338M | · | $73M | |
| Other Non-cash | $158M | $282M | $-224M | $611M | $133M | $132M | $101M | $75M | $-194M | · | $-101M | |
| Operating Cash Flow | $2.66B | $3.06B | $2.55B | $2.24B | $2.78B | $2.31B | $1.39B | $1.11B | $512M | · | $430M | |
| CapEx | $618M | $675M | $658M | $616M | $493M | $436M | $308M | $213M | $182M | · | $93M | |
| Investing Cash Flow | $-230M | $-174M | $-4.36B | $-676M | $-2.29B | $-438M | $-917M | $-1.48B | $-736M | · | $-441M | |
| Debt Issued | $12.30B | $9.64B | $10.34B | $9.81B | $7.06B | $2.40B | $7.20B | $2.77B | $1.99B | · | $2.50B | |
| Net Debt Issued | $5.09B | $1.30B | $1.24B | $1.92B | $2.23B | $59M | $719M | $470M | $213M | · | $348M | |
| Stock Repurchased | $1.19B | $1.55B | $418M | $2.92B | $2.53B | $631M | $311M | $208M | $35M | · | · | |
| Net Stock Activity | $-1.19B | $-1.55B | $-418M | $-2.92B | $-2.53B | $-631M | $-311M | · | · | · | · | |
| Dividends Paid | $239M | $253M | $260M | $274M | $260M | $233M | $63M | $6M | $0 | · | $5M | |
| Financing Cash Flow | $3.73B | $-2.29B | $1.84B | $-1.38B | $-405M | $-1.55B | $-29M | $287M | $352M | · | $136M | |
| Net Change in Cash | $6.38B | $479M | $41M | $93M | $33M | $411M | $467M | $-125M | $173M | · | $69M | |
| Taxes Paid | $786M | $523M | $641M | $431M | $296M | $309M | $147M | $101M | $97M | · | $67M | |
| Free Cash Flow | $2.04B | $2.86B | $1.59B | $1.63B | $2.29B | $1.88B | $1.08B | $893M | $330M | · | $332M |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 22.8% | 23.1% | 17.8% | 7.1% | 15.9% | 12.0% | 16.1% | 21.9% | 14.1% | · | 16.5% | |
| Net Margin | 18.2% | 15.5% | 10.2% | 1.2% | 11.3% | 7.9% | 8.8% | 13.4% | 11.8% | · | 10.0% | |
| Pretax Margin | 16.4% | 18.5% | 12.1% | 2.5% | 12.2% | 8.0% | 10.5% | 16.7% | 9.9% | · | 15.0% | |
| EBITDA Margin | 38.7% | 41.5% | 36.2% | 25.7% | 35.8% | 33.8% | 34.0% | 37.4% | 25.4% | · | 21.4% | |
| ROA | 2.8% | 3.2% | 2.1% | 0.25% | 2.2% | 1.3% | 1.5% | 3.5% | 4.0% | · | 5.7% | |
| ROE | 6.2% | 6.9% | 4.3% | 0.47% | 3.6% | 2.1% | 2.7% | 11.6% | 14.6% | · | 31.7% | |
| ROIC | 6.1% | 8.8% | 6.1% | 0.74% | 4.4% | 2.9% | 1.9% | 7.0% | 8.3% | · | 13.5% |
Liquidity & Solvency 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.7 | 1.0 | 1.0 | 0.9 | 1.1 | 1.0 | 1.2 | 1.0 | 1.1 | · | 1.1 | |
| Quick Ratio | 1.2 | 0.6 | 0.4 | 0.4 | 0.7 | 0.6 | 0.7 | 0.5 | 0.4 | · | 0.3 | |
| Debt / Equity | · | · | · | · | · | · | 0.3 | 1.3 | 1.2 | · | 2.3 | |
| LT Debt / Equity | · | · | · | · | · | · | 0.3 | 1.3 | 1.2 | · | 2.2 |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.3 | 0.3 | · | 0.6 | |
| Inventory Turnover | · | · | · | · | · | · | · | · | · | · | 172.3 | |
| Receivables Turnover | 9.8 | 9.2 | 9.1 | 9.2 | 9.8 | 8.8 | 7.9 | 10.4 | 13.8 | · | 13.3 |
Growth Rates 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | -0.39% | 4.8% | -17.8% | 5.3% | 14.8% | · | · | · | · | · | · | |
| Revenue CAGR 3Y | -5.0% | -3.2% | -0.20% | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 0.75% | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | -6.2% | 63.4% | 842.5% | -87.8% | 68.7% | · | · | · | · | · | · | |
| EPS CAGR 3Y | 143.6% | 23.2% | 24.6% | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | 24.3% | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | -10.8% | 59.2% | 784.6% | -88.4% | 65.2% | · | · | · | · | · | · | |
| Net Income CAGR 3Y | 132.4% | 17.6% | 19.1% | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | 19.1% | · | · | · | · | · | · | · | · | · | · | |
| Dividend CAGR 5Y | 0.45% | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $7.71B | $7.74B | $7.38B | $8.98B | $8.52B | $7.42B | $4.91B | $3.37B | $3.98B | · | $2.77B | |
| Net Income TTM | $1.40B | $1.57B | $986M | $111M | $965M | $585M | $431M | $452M | $468M | · | $278M | |
| Market Cap | $18.32B | $27.87B | $33.07B | $26.13B | $38.49B | $64.27B | $54.81B | $16.29B | $15.96B | · | $3.41B | |
| Enterprise Value | · | · | · | · | · | · | $62.26B | $20.21B | $19.28B | · | $4.50B | |
| P/E | 13.4 | 18.2 | 33.7 | 248.3 | 41.1 | 110.5 | 84.5 | 36.3 | 33.3 | · | 25.3 | |
| P/S | 2.4 | 3.6 | 4.5 | 2.9 | 4.5 | 8.7 | 11.2 | 4.8 | 4.0 | · | 1.2 | |
| P/B | 0.8 | 1.3 | 1.4 | 1.2 | 1.5 | 2.4 | 2.0 | 4.1 | 4.2 | · | 4.5 | |
| P / Tangible Book | 11.6 | 43.6 | · | · | · | · | · | · | · | · | · | |
| P / Cash Flow | 6.9 | 7.9 | 14.7 | 11.6 | 13.8 | 27.8 | 39.4 | 14.7 | 31.1 | · | 8.0 | |
| P / FCF | 9.0 | 9.8 | 20.8 | 16.0 | 16.8 | 34.2 | 50.6 | 18.2 | 48.3 | · | 10.3 | |
| EV / EBITDA | · | · | · | · | · | · | 37.3 | 16.0 | 19.1 | · | 7.6 | |
| EV / FCF | · | · | · | · | · | · | 57.5 | 22.6 | 58.3 | · | 13.5 | |
| EV / Revenue | · | · | · | · | · | · | 12.7 | 6.0 | 4.9 | · | 1.6 | |
| Dividend Yield | 1.3% | 0.91% | 0.79% | 1.1% | 0.67% | 0.36% | 0.12% | 0.04% | 0.00% | · | 0.16% | |
| Earnings Yield | 7.5% | 5.5% | 3.0% | 0.40% | 2.4% | 0.91% | 1.2% | 2.8% | 3.0% | · | 4.0% | |
| Payout Ratio | 17.0% | 16.1% | 26.4% | 245.7% | 26.9% | 39.9% | 5.4% | 1.4% | 1.4% | · | 1.9% | |
| Annual Payout | $239M | $253M | $260M | $274M | $260M | $233M | $63M | $6M | $0 | · | $5M |
Income Statement 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.32B | $2.97B | $1.33B | $2.01B | $1.97B | $1.82B | $1.35B | $2.00B | $1.97B | $2.42B | $159M | $2.48B | $2.45B | $2.29B | $2.25B | $2.29B | |
| Cost of Revenue | $1.29B | $1.27B | $137M | $557M | $502M | $495M | $102M | $505M | $504M | $922M | $-737M | $916M | $942M | $948M | $928M | $931M | |
| SG&A Expense | $1.69B | $1.71B | $1.05B | $1.02B | $1.04B | $957M | $914M | $1.05B | $991M | $1.05B | $801M | $1.00B | $1.01B | $1.04B | $919M | $919M | |
| Operating Expenses | $2.98B | $2.99B | $1.25B | $1.23B | $1.58B | $1.45B | $743M | $1.55B | $1.50B | $1.97B | $61M | $1.92B | $1.85B | $2.24B | $1.85B | $1.90B | |
| Operating Income | $337M | $-16M | $79M | $778M | $393M | $372M | $604M | $443M | $475M | $452M | $98M | $558M | $603M | $57M | $408M | $386M | |
| Other Non-op | $-233M | $-209M | $-138M | $-122M | $-117M | $-110M | $-109M | $-95M | $-114M | $-126M | $-118M | $-140M | $-163M | $-112M | $-113M | $-115M | |
| Pretax Income | $104M | $-224M | $-59M | $656M | $276M | $261M | $495M | $348M | $361M | $326M | $-20M | $418M | $439M | $-55M | $294M | $272M | |
| Income Tax | $-5M | $-12M | $-125M | $199M | $41M | $44M | $98M | $60M | $65M | $19M | $-13M | $59M | $172M | $-31M | $47M | $14M | |
| Net Income | $13M | $-1.80B | $218M | $635M | $242M | $306M | $567M | $315M | $375M | $313M | $361M | $362M | $274M | $-11M | $249M | $290M | |
| EPS (Basic) | $0.05 | $-6.59 | $0.91 | $2.65 | $0.99 | $1.24 | $2.25 | $1.24 | $1.47 | $1.22 | $1.38 | $1.39 | $1.05 | $-0.04 | $0.90 | $1.06 | |
| EPS (Diluted) | $0.05 | $-6.59 | $0.91 | $2.64 | $0.99 | $1.24 | $2.23 | $1.24 | $1.47 | $1.22 | $1.37 | $1.39 | $1.05 | $-0.04 | $0.90 | $1.05 | |
| Shares (Basic) | 269,924,000 | 273,223,000 | -488,347,000 | 239,789,000 | 243,443,000 | 246,749,000 | -511,785,000 | 254,402,000 | 254,748,000 | 256,926,000 | -523,048,000 | 260,232,000 | 260,827,000 | 263,115,000 | -560,120,000 | 275,030,000 | |
| Shares (Diluted) | 270,115,000 | 273,223,000 | -488,903,000 | 240,174,000 | 243,577,000 | 247,160,000 | -512,806,000 | 254,897,000 | 255,166,000 | 257,588,000 | -523,680,000 | 260,935,000 | 261,328,000 | 263,115,000 | -560,607,000 | 275,435,000 | |
| EBITDA | $337M | $849M | · | $1.08B | $724M | $923M | · | $950M | $1.04B | $913M | · | $1.02B | $1.06B | $464M | · | $792M |
Balance Sheet 22
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $5.41B | $5.86B | $8.34B | $2.60B | $2.61B | $2.90B | $2.36B | $2.94B | $2.10B | $2.17B | · | $1.94B | $1.92B | $2.00B | · | $1.99B | |
| Receivables | $1.58B | $1.42B | $784M | $878M | $864M | $1.11B | $788M | $1.15B | $1.13B | $1.05B | · | $1.08B | $1.16B | $1.07B | · | $998M | |
| Prepaid Expense | $1.06B | $1.04B | $802M | $412M | $405M | $893M | $550M | $787M | $822M | $831M | · | $788M | $832M | $787M | · | $627M | |
| Current Assets | $11.67B | $11.67B | $12.60B | $7.21B | $7.75B | $6.74B | $6.03B | $7.90B | $8.55B | $9.67B | · | $6.78B | $5.52B | $5.60B | · | $5.45B | |
| Goodwill | $26.98B | $27.08B | $17.08B | $16.73B | $16.74B | $26.42B | $17.03B | $26.96B | $26.86B | $26.73B | · | $26.52B | $26.49B | $26.85B | · | $23.42B | |
| Intangibles | $19.41B | $20.18B | $4.23B | $4.29B | $4.38B | $8.67B | $4.61B | $9.32B | $9.61B | $9.80B | · | $10.26B | $10.74B | $10.59B | · | $9.91B | |
| Other Non-current Assets | $2.19B | $2.14B | $1.87B | $1.89B | $1.86B | $2.55B | $1.85B | $2.63B | $2.60B | $2.57B | · | $2.48B | $2.48B | $2.46B | · | $2.33B | |
| Total Assets | $63.57B | $64.25B | $53.34B | $47.96B | $48.52B | $47.62B | $46.89B | $49.99B | $50.75B | $51.77B | · | $48.92B | $48.15B | $48.64B | · | $43.94B | |
| Accounts Payable | $3.71B | $3.73B | $2.66B | $2.45B | $2.18B | $2.93B | $2.84B | $2.73B | $2.68B | $2.63B | · | $2.57B | $2.71B | $2.51B | · | $2.21B | |
| Current Liabilities | $14.15B | $14.75B | $7.46B | $8.43B | $8.18B | $7.14B | $6.25B | $8.53B | $9.33B | $10.52B | · | $6.22B | $5.12B | $6.08B | · | $5.68B | |
| Capital Leases | · | · | $306M | · | · | · | $330M | · | · | · | · | · | · | · | · | · | |
| Deferred Tax | $2.89B | $2.73B | $1.61B | $1.69B | $1.70B | $1.77B | $1.58B | $1.95B | $2.01B | $2.06B | · | $2.30B | $2.45B | $2.43B | · | $2.44B | |
| Other Non-current Liabilities | $1.07B | $1.11B | $522M | $556M | $577M | $666M | $550M | $673M | $639M | $644M | · | $673M | $694M | $699M | · | $655M | |
| Total Liabilities | $39.60B | $39.58B | $29.56B | $24.46B | $25.10B | $24.59B | $23.87B | $26.37B | $27.59B | $28.79B | · | $25.77B | $25.24B | $25.76B | · | $21.07B | |
| Long-term Debt | $22.52B | $22.70B | $21.55B | $15.30B | $16.10B | $16.28B | · | $16.86B | $17.27B | $17.23B | · | $16.71B | $17.11B | $17.77B | · | $13.48B | |
| Common Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | · | $0 | $0 | $0 | · | $0 | |
| Paid-in Capital | $19.41B | $19.92B | $17.08B | $17.03B | $17.50B | $17.68B | $18.12B | $18.81B | $18.76B | $18.81B | · | $19.75B | $19.69B | $19.84B | · | $20.72B | |
| Retained Earnings | $4.01B | $4.07B | $5.94B | $5.78B | $5.20B | $5.02B | $4.77B | $4.27B | $4.02B | $3.71B | · | $3.16B | $2.86B | $2.65B | · | $2.55B | |
| AOCI | $-309M | $-195M | $-126M | $-143M | $-104M | $-450M | $-613M | $-269M | $-392M | $-297M | · | $-471M | $-378M | $-411M | · | $-605M | |
| Stockholders' Equity | $23.11B | $23.79B | $22.89B | $22.67B | $22.59B | $22.25B | $22.28B | $22.81B | $22.39B | $22.22B | · | $22.44B | $22.17B | $22.08B | · | $22.66B | |
| Liabilities + Equity | $63.57B | $64.25B | $53.34B | $47.96B | $48.52B | $47.62B | $46.89B | $49.99B | $50.75B | $51.77B | · | $48.92B | $48.15B | $48.64B | · | $43.94B | |
| Shares Outstanding | 265,811,863 | 273,396,831 | 236,692,592 | 236,613,976 | 242,475,957 | 245,361,590 | 248,708,899 | 254,401,583 | 254,353,455 | 255,130,560 | · | 260,359,506 | 259,962,485 | 261,770,665 | · | 270,307,707 |
Cash Flow 16
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $884M | $865M | $177M | $303M | $296M | $293M | $141M | $310M | $305M | $461M | $-186M | $459M | $462M | $407M | $401M | $406M | |
| Stock-based Comp | $36M | $21M | $39M | $35M | $40M | $40M | $30M | $51M | $43M | $40M | $36M | $37M | $47M | $90M | $41M | $37M | |
| Amort. of Intangibles | $758M | $747M | $237M | $209M | $222M | $329M | $333M | $348M | $346M | $343M | $333M | $340M | $344M | $301M | $301M | $306M | |
| Restructuring | · | · | · | · | · | · | · | $56M | · | · | · | · | · | · | · | · | |
| Other Non-cash | · | $625M | · | · | · | $-242M | · | · | · | $-398M | · | · | · | $114M | · | · | |
| Operating Cash Flow | $663M | $-289M | $515M | $769M | $818M | $555M | $883M | $1.02B | $922M | $530M | $959M | $427M | $565M | $600M | $710M | $336M | |
| CapEx | $236M | $261M | $168M | $170M | $152M | $128M | $184M | $166M | $179M | $145M | $157M | $170M | $169M | $162M | $152M | $139M | |
| Investing Cash Flow | $-264M | $5.72B | $-310M | $556M | $-304M | $-173M | $673M | $-149M | $-549M | $-148M | $-241M | $-118M | $205M | $-4.21B | $-189M | $-123M | |
| Debt Issued | $4.66B | $4.67B | $7.40B | $2.14B | $1.20B | $1.55B | $2.00B | $1.35B | $1.68B | $4.61B | $1.48B | $1.50B | $2.65B | $4.71B | $688M | $6.17B | |
| Net Debt Issued | · | $-8.95B | · | · | · | $-996M | · | · | · | $1.98B | · | · | · | $3.15B | · | · | |
| Stock Repurchased | $550M | $550M | $-69.0K | $500M | $245M | $446M | $652M | $0 | $100M | $800M | $1.0K | $0 | $215M | $203M | $782M | $890M | |
| Net Stock Activity | · | $-550M | · | · | · | $-446M | · | · | · | $-800M | · | · | · | $-203M | · | · | |
| Dividends Paid | $66M | $68M | $59M | $58M | $60M | $61M | $62M | $63M | $63M | $64M | $65M | $65M | $65M | $66M | $66M | $69M | |
| Financing Cash Flow | $-834M | $-8.41B | $5.86B | $-1.60B | $-491M | $-32M | $-1.85B | $-74M | $-394M | $-277M | $-618M | $-243M | $-910M | $3.61B | $-572M | $-62M | |
| Net Change in Cash | $-432M | $-2.99B | $6.08B | $-303M | $192M | $412M | $-404M | $852M | $-41M | $71M | $147M | $-4M | $-123M | $22M | $58M | $58M | |
| Free Cash Flow | · | $-550M | · | · | · | $428M | · | · | · | $271M | · | · | · | $437M | · | · |
Profitability 7
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 10.2% | -0.53% | · | 38.8% | 21.8% | 19.5% | · | 18.3% | 22.3% | 18.7% | · | 22.6% | 24.6% | 2.5% | · | 16.9% | |
| Net Margin | 0.39% | -60.6% | · | 31.6% | 12.3% | 12.7% | · | 12.1% | 14.6% | 13.0% | · | 14.6% | 11.2% | -0.48% | · | 12.7% | |
| Pretax Margin | 3.1% | -7.6% | · | 32.7% | 15.9% | 14.6% | · | 14.4% | 17.5% | 13.5% | · | 16.9% | 17.9% | -2.4% | · | 11.9% | |
| EBITDA Margin | 10.2% | 28.6% | · | 53.8% | 37.0% | 38.3% | · | 36.5% | 40.6% | 37.7% | · | 41.1% | 43.4% | 20.2% | · | 34.6% | |
| ROA | 0.02% | -3.2% | · | 1.3% | 0.49% | 0.62% | · | 0.64% | 0.76% | 0.62% | · | 0.78% | 0.59% | -0.02% | · | 0.65% | |
| ROE | 0.06% | -7.8% | · | 2.8% | 1.1% | 1.4% | · | 1.4% | 1.7% | 1.4% | · | 1.6% | 1.2% | -0.05% | · | 1.2% | |
| ROIC | 1.5% | -0.06% | · | 2.4% | 1.2% | 1.8% | · | 1.8% | 2.1% | 1.9% | · | 2.1% | 1.7% | 0.11% | · | 1.6% |
Liquidity & Solvency 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.8 | 0.8 | · | 0.9 | 0.9 | 0.9 | · | 0.9 | 0.9 | 0.9 | · | 1.1 | 1.1 | 0.9 | · | 1.0 | |
| Quick Ratio | 0.5 | 0.5 | · | 0.4 | 0.4 | 0.6 | · | 0.5 | 0.3 | 0.3 | · | 0.5 | 0.6 | 0.5 | · | 0.5 |
Efficiency 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | · | 0.0 | 0.0 | 0.0 | · | 0.1 | 0.1 | 0.0 | · | 0.1 | 0.1 | 0.0 | · | 0.1 | |
| Receivables Turnover | 2.7 | 2.3 | · | 2.0 | 2.0 | 2.2 | · | 2.3 | 2.2 | 2.3 | · | 2.4 | 2.3 | 2.2 | · | 2.4 |
Valuation (TTM) 11
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $10.27B | $8.75B | · | $8.37B | $8.34B | $8.80B | · | $8.86B | $9.32B | $9.64B | · | $9.51B | $9.31B | $9.01B | · | $8.92B | |
| Net Income TTM | $-910M | $-617M | · | $1.50B | $1.24B | $1.31B | · | $1.37B | $1.32B | $938M | · | $915M | $-119M | $-149M | · | $159M | |
| Market Cap | $19.29B | $18.40B | · | $19.66B | $19.41B | $24.03B | · | $26.06B | $24.60B | $34.10B | · | $30.04B | $25.61B | $27.55B | · | $29.21B | |
| P/E | -24.9 | -39.1 | · | 13.6 | 16.2 | 18.9 | · | 19.3 | 18.8 | 36.9 | · | 33.4 | -273.7 | -194.9 | · | 211.9 | |
| P/S | 1.9 | 2.1 | · | 2.3 | 2.3 | 2.7 | · | 2.9 | 2.6 | 3.5 | · | 3.2 | 2.8 | 3.1 | · | 3.3 | |
| P/B | 0.8 | 0.8 | · | 0.9 | 0.9 | 1.1 | · | 1.1 | 1.1 | 1.5 | · | 1.3 | 1.2 | 1.2 | · | 1.3 | |
| P / Tangible Book | · | · | · | 11.9 | 13.2 | · | · | · | · | · | · | · | · | · | · | · | |
| P / Cash Flow | · | -63.7 | · | · | · | 43.3 | · | · | · | 81.9 | · | · | · | 46.0 | · | · | |
| P / FCF | · | -33.4 | · | · | · | 56.2 | · | · | · | 125.9 | · | · | · | 63.0 | · | · | |
| Earnings Yield | -4.0% | -2.6% | · | 7.3% | 6.2% | 5.3% | · | 5.2% | 5.3% | 2.7% | · | 3.0% | -0.37% | -0.51% | · | 0.47% | |
| Payout Ratio | · | -3.8% | · | · | · | 20.0% | · | · | · | 20.3% | · | · | · | -595.5% | · | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $7.71B | $7.74B | $7.38B | $8.98B | $8.52B |
| Operating Margin % | 22.8% | 23.1% | 17.8% | 7.1% | 15.9% |
| Net Income | $1.40B | $1.57B | $986M | $111M | $965M |
| Diluted EPS | $5.78 | $6.16 | $3.77 | $0.40 | $3.29 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 1.7 | 1.0 | 1.0 | 0.9 | 1.1 |
| Quick Ratio | 1.2 | 0.6 | 0.4 | 0.4 | 0.7 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $2.04B | $2.86B | $1.59B | $1.63B | $2.29B |
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Institutional owners (13F) 895 filers · $14.6B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 107 (-14 vs prior Q) | 92 (-22 vs prior Q) | 283 (-61 vs prior Q) | 294 (+47 vs prior Q) | +56.3M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| GTCR LLC | $3,139,529,069 | 43,268,041 | 21.47% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $1,067,599,442 | 14,713,333 | 7.30% | Shares |
| AMERIPRISE FINANCIAL INC | $842,844,791 | 11,610,879 | 5.76% | Shares |
| STATE STREET CORP | $762,835,470 | 10,513,168 | 5.22% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $718,408,506 | 9,900,889 | 4.91% | Shares |
| GLENVIEW CAPITAL MANAGEMENT, LLC | $646,270,805 | 8,906,709 | 4.42% | Shares |
| Pinnacle Financial Partners, Inc. | $498,320,094 | 6,867,697 | 3.41% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $428,882,031 | 5,679,081 | 2.93% | Shares |
| BANK OF AMERICA CORP /DE/ | $419,346,298 | 5,779,304 | 2.87% | Shares |
| FMR LLC | $291,862,899 | 4,022,366 | 2.00% | Shares |
| NORGES BANK | $201,525,604 | 2,777,365 | 1.38% | Shares |
| FRANKLIN RESOURCES INC | $160,184,544 | 2,207,615 | 1.10% | Shares |
| CITADEL ADVISORS LLC | $159,649,560 | 2,200,242 | 1.09% | Shares |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | $149,718,780 | 2,063,379 | 1.02% | Shares |
| Brandywine Global Investment Management, LLC | $146,189,018 | 1,888,747 | 1.00% | Shares |
| LYRICAL ASSET MANAGEMENT LP | $133,126,485 | 1,834,709 | 0.91% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $125,720,673 | 1,732,645 | 0.86% | Shares |
| Point72 Asset Management, L.P. | $122,662,100 | 1,690,492 | 0.84% | Shares |
| Clearbridge Investments, LLC | $121,135,347 | 1,669,451 | 0.83% | Shares |
| GOLDMAN SACHS GROUP INC | $110,502,785 | 1,522,916 | 0.76% | Shares |
| BARCLAYS PLC | $108,041,840 | 1,489,000 | 0.74% | Call option |
| Davis Asset Management, L.P. | $107,751,600 | 1,485,000 | 0.74% | Shares |
| NORDEA INVESTMENT MANAGEMENT AB | $107,158,152 | 1,533,679 | 0.73% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $103,381,384 | 1,424,771 | 0.71% | Shares |
| Focused Investors LLC | $94,386,048 | 1,300,800 | 0.65% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $91,668,313 | 1,263,345 | 0.63% | Shares |
| ALGEBRIS (UK) LTD | $91,289,941 | 1,262,105 | 0.62% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $81,137,753 | 1,118,216 | 0.55% | Shares |
| Amundi | $72,142,925 | 994,252 | 0.49% | Shares |
| Callodine Capital Management, LP | $72,026,757 | 992,651 | 0.49% | Shares |
| Patient Capital Management, LLC | $68,374,062 | 942,310 | 0.47% | Shares |
| Invenomic Capital Management LP | $63,967,372 | 881,579 | 0.44% | Shares |
| Caisse de depot et placement du Quebec | $55,129,347 | 759,776 | 0.38% | Shares |
| DEUTSCHE BANK AG\ | $53,447,986 | 736,604 | 0.37% | Shares |
| EARNEST PARTNERS LLC | $52,466,685 | 723,080 | 0.36% | Shares |
| BANK OF NOVA SCOTIA | $52,137,552 | 718,544 | 0.36% | Shares |
| Pine Valley Investments Ltd Liability Co | $51,144,497 | 704,858 | 0.35% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $49,616,528 | 683,800 | 0.34% | Call option |
| MILLENNIUM MANAGEMENT LLC | $48,513,689 | 668,601 | 0.33% | Shares |
| CAPITOLIS LIQUID GLOBAL MARKETS LLC | $47,996,553 | 661,474 | 0.33% | Shares |
| Swiss National Bank | $47,878,789 | 659,851 | 0.33% | Shares |
| JANE STREET GROUP, LLC | $47,613,872 | 656,200 | 0.33% | Call option |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $47,599,360 | 656,000 | 0.33% | Put option |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | $46,900,752 | 646,372 | 0.32% | Shares |
| PRIVATE MANAGEMENT GROUP INC | $44,430,084 | 612,322 | 0.30% | Shares |
| BlackRock, Inc. | $44,405,486 | 611,983 | 0.30% | Shares |
| CITADEL ADVISORS LLC | $42,977,288 | 592,300 | 0.29% | Call option |
| North Reef Capital Management LP | $42,084,800 | 580,000 | 0.29% | Shares |
| Mitsubishi UFJ Asset Management Co., Ltd. | $41,940,406 | 578,010 | 0.29% | Shares |
| RHUMBLINE ADVISERS | $41,011,599 | 565,211 | 0.28% | Shares |
| NOMURA HOLDINGS INC | $40,103,912 | 552,700 | 0.27% | Call option |
| Estuary Capital Management LP | $39,973,594 | 550,904 | 0.27% | Shares |
| Legal & General Group Plc | $39,219,842 | 540,516 | 0.27% | Shares |
| Sumitomo Mitsui Trust Group, Inc. | $39,012,029 | 537,652 | 0.27% | Shares |
| Melqart Asset Management (UK) Ltd | $38,651,841 | 532,688 | 0.26% | Shares |
| BARCLAYS PLC | $36,153,165 | 498,252 | 0.25% | Shares |
| PFA Pension, Forsikringsaktieselskab | $35,838,244 | 493,912 | 0.25% | Shares |
| Vanguard Global Advisers, LLC | $35,153,071 | 484,469 | 0.24% | Shares |
| AustralianSuper Pty Ltd | $33,799,609 | 465,816 | 0.23% | Shares |
| California Public Employees Retirement System | $33,671,250 | 464,047 | 0.23% | Shares |
| CREDIT AGRICOLE S A | $33,038,672 | 455,329 | 0.23% | Shares |
| HARRIS ASSOCIATES L P | $32,956,462 | 454,196 | 0.23% | Shares |
| Balyasny Asset Management L.P. | $31,654,663 | 436,255 | 0.22% | Shares |
| FIRST TRUST ADVISORS LP | $30,446,510 | 419,610 | 0.21% | Shares |
| Boston Partners | $30,291,410 | 417,467 | 0.21% | Shares |
| CITADEL ADVISORS LLC | $29,858,440 | 411,500 | 0.20% | Put option |
| National Pension Service | $28,815,753 | 397,130 | 0.20% | Shares |
| FULLER & THALER ASSET MANAGEMENT, INC. | $28,293,648 | 389,935 | 0.19% | Shares |
| ROYAL BANK OF CANADA | $28,284,000 | 389,800 | 0.19% | Call option |
| Arrowpoint Investment Partners (Singapore) Pte. Ltd. | $27,871,312 | 384,114 | 0.19% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $27,631,066 | 380,803 | 0.19% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $26,904,252 | 399,766 | 0.18% | Shares |
| MOORE CAPITAL MANAGEMENT, LP | $26,842,846 | 369,940 | 0.18% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $26,430,779 | 364,261 | 0.18% | Shares |
| RAYMOND JAMES FINANCIAL INC | $26,070,760 | 359,299 | 0.18% | Shares |
| WEITZ INVESTMENT MANAGEMENT, INC. | $25,396,000 | 350,000 | 0.17% | Shares |
| TOCQUEVILLE ASSET MANAGEMENT L.P. | $23,922,452 | 329,692 | 0.16% | Shares |
| LONE PEAK GLOBAL INVESTORS LLC | $23,715,050 | 326,833 | 0.16% | Shares |
| Caption Management, LLC | $22,812,864 | 314,400 | 0.16% | Put option |
| Distillate Capital Partners LLC | $22,530,968 | 310,515 | 0.15% | Shares |
| Prana Capital Management, LP | $21,728,963 | 299,462 | 0.15% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $21,046,419 | 290,055 | 0.14% | Shares |
| Portman Square Capital LLP | $19,866,928 | 273,800 | 0.14% | Put option |
| Longaeva Partners L.P. | $19,722,679 | 271,812 | 0.13% | Shares |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | $19,201,625 | 264,631 | 0.13% | Shares |
| Allianz Asset Management GmbH | $19,059,190 | 262,668 | 0.13% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $17,932,986 | 247,147 | 0.12% | Shares |
| LAKEWOOD CAPITAL MANAGEMENT, LP | $17,726,408 | 244,300 | 0.12% | Shares |
| Blue Trust, Inc. | $17,338,989 | 238,961 | 0.12% | Shares |
| Quantinno Capital Management LP | $17,113,491 | 235,852 | 0.12% | Shares |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | $17,056,000 | 235,063 | 0.12% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $17,011,100 | 233,181 | 0.12% | Shares |
| Portman Square Capital LLP | $15,955,944 | 219,900 | 0.11% | Call option |
| Coho Partners, Ltd. | $15,894,117 | 191,311 | 0.11% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $15,345,134 | 211,482 | 0.10% | Shares |
| Poplar Forest Capital LLC | $15,177,796 | 155,002 | 0.10% | Shares |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $15,031,530 | 207,160 | 0.10% | Shares |
| Delta Global Management LP | $15,016,655 | 206,955 | 0.10% | Shares |
| ALLIANCEBERNSTEIN L.P. | $14,965,299 | 222,367 | 0.10% | Shares |
| Gator Capital Management, LLC | $14,566,057 | 200,745 | 0.10% | Shares |
Company insiders 56 insiders · 28 officers · 28 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Cameron M Bready | Chief Executive Officer | July 29, 2026 M | 432,790 | 0 | 0 | $0 |
| Jeffrey Steven Sloan | CEO | Feb. 24, 2023 F | 311,286 | 0 | 0 | $0 |
| Raul Limon | CEO of Dolex | July 23, 2007 A | 3,217 | 0 | 0 | $0 |
| Joshua J Whipple | Chief Financial Officer | March 1, 2026 F | 107,262 | 0 | 0 | $0 |
| Paul M Todd | Senior Executive VP and CFO | Feb. 22, 2021 A | 129,021 | 0 | 0 | $0 |
| David E Mangum | President and COO | July 30, 2018 F | 215,236 | 0 | 0 | $0 |
| Morgan M Schuessler | President - International | Aug. 18, 2014 A | 49,483 | 0 | 0 | $0 |
| Joseph C Hyde | President - International | July 29, 2012 F | 35,380 | 0 | 0 | $0 |
| James G Kelly | Chief Operating Officer | April 5, 2010 M | 100,953 | 0 | 0 | $0 |
| Dara L. Steele-Belkin | Chief Legal Officer | June 1, 2026 F | 46,527 | 0 | 0 | $0 |
| Jennifer Bozeman Whyte | Chief Accounting Officer | March 15, 2026 F | 8,873 | 0 | 0 | $0 |
| David M Sheffield | EVP, Chief Accounting Officer | Feb. 28, 2026 F | 15,660 | 0 | 1 | $-164,123 |
| Stella Nichole Viviani | Chief People Officer | Feb. 27, 2026 A | 19,619 | 0 | 0 | $0 |
| David Lawrence Green | Chief Administrative Officer | Dec. 3, 2025 S | 68,096 | 0 | 1 | $-927,884 |
| Ryan J. Loy | Chief Information Officer | May 8, 2025 A | 29,849 | 0 | 0 | $0 |
| Andrea M Carter | Chief Human Resources Officer | Feb. 28, 2025 A | 26,077 | 0 | 0 | $0 |
| Shannon A Johnston | Senior EVP and CIO | June 6, 2024 S | 12,489 | 0 | 0 | $0 |
| Guido Francesco Sacchi | Senior EVP and CIO | Aug. 17, 2023 S | 66,130 | 0 | 0 | $0 |
| Jane Marie Elliott | EVP and Chief Of Staff | Aug. 18, 2016 F | 9,879 | 0 | 0 | $0 |
| Michelle V. Bonam-Ball | EVP & CHRO | Nov. 2, 2015 A | 1,836 | 0 | 0 | $0 |
| Gerald Thomas Balas Jr. | EVP and CHRO | April 27, 2015 S | 11,155 | 0 | 0 | $0 |
| Daniel C O'Keefe | SVP & Chief Accounting Officer | Aug. 18, 2014 A | 14,544 | 0 | 0 | $0 |
| Suellyn P Tornay | Executive Vice President | Oct. 29, 2013 M | 23,336 | 0 | 0 | $0 |
| Carl J Williams | Pres. Worldwide Pymt Process | July 31, 2009 F | 42,828 | 0 | 0 | $0 |
| Martin A Picciano | Chief Accounting Officer | Sept. 23, 2008 M | 7,114 | 0 | 0 | $0 |
| Kevin J Schultz | Chief Marketing Officer | Oct. 10, 2005 A | 14,806 | 0 | 0 | $0 |
| Jeffrey C Mcwey | Chief Marketing Officer | June 3, 2005 F | 25,607 | 0 | 0 | $0 |
| Barry W Lawson | Chief Information Officer | May 31, 2004 F | 29,130 | 0 | 0 | $0 |
| Kirsten Marie Kliphouse | Director | May 1, 2026 A | 9,076 | 0 | 0 | $0 |
| Thaddeus F. Arroyo | Director | May 1, 2026 A | 16,272 | 0 | 0 | $0 |
| Vivek Sankaran | Director | May 1, 2026 A | 3,418 | 0 | 0 | $0 |
| Joseph Osnoss | Director | May 1, 2026 A | 10,902 | 0 | 0 | $0 |
| Patricia A Watson | Director | May 1, 2026 A | 5,830 | 1 | 0 | $99,905 |
| Archana Deskus | Director | May 1, 2026 A | 4,499 | 0 | 0 | $0 |
| John G Bruno | Director | May 1, 2026 A | 21,849 | 0 | 0 | $0 |
| William B Plummer | Director | May 1, 2026 A | 18,685 | 0 | 0 | $0 |
| Joia M Johnson | Director | May 1, 2026 A | 6,352 | 1 | 0 | $99,345 |
| Troy M Woods | Director | May 1, 2026 A | 85,795 | 0 | 0 | $0 |
| Connie D Mcdaniel | Director | May 1, 2026 A | 33,193 | 0 | 1 | $-347,344 |
| Robert H B Baldwin JR | Director | Dec. 11, 2025 G | 45,911 | 2 | 0 | $1,086,867 |
| John Thompson Turner | Director | March 10, 2025 M | 34,212 | 0 | 0 | $0 |
| Ruth Ann Marshall | Director | April 26, 2024 A | 47,134 | 0 | 0 | $0 |
| Kriss Cloninger III | Director | April 29, 2022 A | 37,462 | 0 | 0 | $0 |
| William I Jacobs | Director | April 18, 2022 F | 15,825 | 0 | 0 | $0 |
| Alan M Silberstein | Director | Sept. 16, 2019 S | 38,063 | 0 | 0 | $0 |
| Mitchell L Hollin | Director | April 26, 2019 A | 36,585 | 0 | 0 | $0 |
| John Partridge | Director | April 30, 2018 A | 14,156 | 0 | 0 | $0 |
| Michael W Trapp | Director | March 1, 2017 G | 10,354 | 0 | 0 | $0 |
| Gerald J Wilkins | Director | April 22, 2016 J | 3,175 | 0 | 0 | $0 |
| Alex W Hart | Director | April 22, 2015 M | 22,063 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 183 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| FINX · Global X Funds | 3.75% | 97,093 NS | May 31, 2026 | N-PORT |
| ABCS · EA Series Trust | 1.88% | 2,819 NS | May 29, 2026 | N-PORT |
| RSPF · Invesco Exchange-Traded Fund Trust | 1.64% | 58,596 SH | Aug. 8, 2026 | Daily |
| MMID · MFS Active Exchange Traded Funds Tr… | 1.52% | 6,847 NS | May 31, 2026 | N-PORT |
| EPMV · Harbor ETF Trust | 1.35% | 832 NS | April 30, 2026 | N-PORT |
| SRHQ · Elevation Series Trust | 1.28% | 34,357 NS | April 30, 2026 | N-PORT |
| CVAR · ETF Opportunities Trust | 1.21% | 6,532 NS | April 30, 2026 | N-PORT |
| RPV · Invesco Exchange-Traded Fund Trust | 1.12% | 221,614 SH | Aug. 8, 2026 | Daily |
| GSY · Invesco Actively Managed Exchange-T… | 1.04% | 40,553,000 | Aug. 8, 2026 | Daily |
| DTEC · ALPS ETF Trust | 0.96% | 9,475 NS | May 31, 2026 | N-PORT |
| FTA · First Trust Exchange-Traded AlphaDE… | 0.93% | 168,183 NS | April 30, 2026 | N-PORT |
| FXR · First Trust Exchange-Traded AlphaDE… | 0.92% | 88,814 NS | April 30, 2026 | N-PORT |
| SPHB · Invesco Exchange-Traded Fund Trust … | 0.89% | 97,473 SH | Aug. 8, 2026 | Daily |
| EPMB · Harbor ETF Trust | 0.85% | 529 NS | April 30, 2026 | N-PORT |
| BSCU · Invesco Exchange-Traded Self-Indexe… | 0.70% | 19,624,000 | Aug. 8, 2026 | Daily |
| WLDR · Two Roads Shared Trust | 0.66% | 6,532 NS | April 30, 2026 | N-PORT |
| AUSF · Global X Funds | 0.52% | 58,860 NS | May 31, 2026 | N-PORT |
| BSCS · Invesco Exchange-Traded Self-Indexe… | 0.52% | 18,627,000 | Aug. 8, 2026 | Daily |
| HIBL · Direxion Shares ETF Trust | 0.47% | 5,159 NS | April 30, 2026 | N-PORT |
| FAB · First Trust Exchange-Traded AlphaDE… | 0.46% | 8,871 NS | April 30, 2026 | N-PORT |
| FEX · First Trust Exchange-Traded AlphaDE… | 0.44% | 91,270 NS | April 30, 2026 | N-PORT |
| QLC · FlexShares Trust | 0.42% | 52,920 NS | April 30, 2026 | N-PORT |
| ESLV · Strategy Shares | 0.40% | 650 NS | April 30, 2026 | N-PORT |
| FBCV · FIDELITY COVINGTON TRUST | 0.34% | 7,545 NS | April 30, 2026 | N-PORT |
| BSCR · Invesco Exchange-Traded Self-Indexe… | 0.28% | 12,929,000 | Aug. 8, 2026 | Daily |
| IMCV · iShares Trust | 0.28% | 36,748 SH | Aug. 8, 2026 | Daily |
| VOE · VANGUARD INDEX FUNDS | 0.27% | 1,388,124 SH | Aug. 8, 2026 | Daily |
| RSP · Invesco Exchange-Traded Fund Trust | 0.26% | 2,970,485 SH | Aug. 8, 2026 | Daily |
| SIZE · iShares Trust | 0.24% | 11,900 SH | Aug. 8, 2026 | Daily |
| IYJ · iShares Trust | 0.23% | 52,322 SH | Aug. 8, 2026 | Daily |
| EUSA · iShares, Inc. | 0.23% | 50,020 SH | Aug. 8, 2026 | Daily |
| JVAL · J.P. Morgan Exchange-Traded Fund Tr… | 0.22% | 22,625 NS | April 30, 2026 | N-PORT |
| REVS · Columbia ETF Trust I | 0.22% | 8,580 NS | April 30, 2026 | N-PORT |
| VLUE · iShares Trust | 0.22% | 232,071 SH | Aug. 8, 2026 | Daily |
| GSEW · Goldman Sachs ETF Trust | 0.21% | 49,538 NS | May 31, 2026 | N-PORT |
| FNCL · FIDELITY COVINGTON TRUST | 0.20% | 62,942 NS | April 30, 2026 | N-PORT |
| AFLG · First Trust Exchange-Traded Fund VI… | 0.20% | 17,428 NS | May 31, 2026 | N-PORT |
| DFVE · DoubleLine ETF Trust | 0.20% | 814 NS | March 31, 2026 | N-PORT |
| IWS · iShares Trust | 0.19% | 347,604 SH | Aug. 8, 2026 | Daily |
| TRFM · ETF Series Solutions | 0.18% | 3,950 NS | April 30, 2026 | N-PORT |
| VCEB · VANGUARD WORLD FUND | 0.17% | 2,043,000 PA | Aug. 8, 2026 | Daily |
| FAS · Direxion Shares ETF Trust | 0.17% | 45,531 NS | April 30, 2026 | N-PORT |
| VFH · VANGUARD WORLD FUND | 0.16% | 298,007 SH | Aug. 8, 2026 | Daily |
| UYG · ProShares Trust | 0.16% | 14,670 NS | May 31, 2026 | N-PORT |
| PALC · Pacer Funds Trust | 0.16% | 5,017 NS | April 30, 2026 | N-PORT |
| CSM · ProShares Trust | 0.16% | 10,847 NS | May 31, 2026 | N-PORT |
| DIVB · iShares Trust | 0.15% | 30,838 SH | Aug. 8, 2026 | Daily |
| ESUM · Strategy Shares | 0.15% | 3,276 NS | April 30, 2026 | N-PORT |
| PFIG · Invesco Exchange-Traded Fund Trust … | 0.15% | 188,000 | Aug. 8, 2026 | Daily |
| VO · VANGUARD INDEX FUNDS | 0.15% | 4,686,132 SH | Aug. 8, 2026 | Daily |