Global Payments Inc (0IW7.L) Q3 2025 Earnings Report

Global Payments Inc reported solid profitability in QQ3 2025 despite a material year-over-year revenue decline. The quarter delivered USD 2.008 billion in revenue with a strong operating margin of 38.8% and an EBITDA of USD 778.0 million, yielding an EBITDA margin of about 38.8%. Net income reached USD 635.2 million, or roughly 31.6% net margin, supported by a favorable pre-tax trajectory (income Before Tax USD 655.7 million) and a tax expense of USD 199.3 million. Management commentary is not included in the provided data; as such, the analysis relies on disclosed results and standard margin drivers within the payments technology space.

Key takeaway: the company exhibits high operating profitability and substantial bottom-line strength, even as revenue contracted on a YoY basis. The quarterly results demonstrate disciplined cost control (selling, general and administrative expenses at USD 1.016 billion) and a deliberate financing structure, evidenced by a net interest expense of USD 143.8 million and a negative net interest drag on earnings. The current liquidity position shows a current ratio of 0.86, signaling a tighter near-term balance sheet liquidity profile, though the debt load remains moderate (debt ratio ~0.317, debt capitalization ~0.402). Investors should monitor revenue momentum across segments, working capital dynamics, and any shifts in merchant/issuer solution mix that could affect profitability and cash flow generation going forward.