Quick10K

Total System Services

Filings

10-Q	2019-06-30	Filed 2019-07-31
10-Q	2019-03-31	Filed 2019-05-01
10-K	2018-12-31	Filed 2019-02-21
10-Q	2018-09-30	Filed 2018-11-06
10-Q	2018-06-30	Filed 2018-08-07
10-Q	2018-03-31	Filed 2018-05-08
10-K	2017-12-31	Filed 2018-02-23
10-Q	2017-09-30	Filed 2017-11-07
10-Q	2017-06-30	Filed 2017-08-07
10-Q	2017-03-31	Filed 2017-05-04
10-K	2016-12-31	Filed 2017-02-24
10-Q	2016-09-30	Filed 2016-11-04
10-Q	2016-06-30	Filed 2016-08-05
10-Q	2016-03-31	Filed 2016-05-05
10-K	2015-12-31	Filed 2016-02-25
10-Q	2015-09-30	Filed 2015-11-05
10-Q	2015-06-30	Filed 2015-08-06
10-Q	2015-03-31	Filed 2015-05-07
10-K	2014-12-31	Filed 2015-02-26
10-Q	2014-09-30	Filed 2014-11-06
10-Q	2014-06-30	Filed 2014-08-07
10-Q	2014-03-31	Filed 2014-05-08
10-K	2013-12-31	Filed 2014-02-25
10-Q	2013-09-30	Filed 2013-11-06
10-Q	2013-06-30	Filed 2013-08-08
10-Q	2013-03-31	Filed 2013-05-08
10-K	2012-12-31	Filed 2013-02-26
10-Q	2012-09-30	Filed 2012-11-05
10-Q	2012-06-30	Filed 2012-08-06
10-Q	2012-03-31	Filed 2012-05-07
10-K	2011-12-31	Filed 2012-02-24
10-Q	2011-09-30	Filed 2011-11-04
10-Q	2011-06-30	Filed 2011-08-05
10-Q	2011-03-31	Filed 2011-05-06
10-Q	2010-09-30	Filed 2010-11-04
10-Q	2010-06-30	Filed 2010-08-09
10-Q	2010-03-31	Filed 2010-05-07
10-K	2009-12-31	Filed 2010-03-01

Reports

8-K	2019-09-17	Leave Agreement, M&A, Shareholder Rights, Control, Officers, Amend Bylaw, Other Events, Exhibits
8-K	2019-08-29	Officers
8-K	2019-08-29	Shareholder Vote
8-K	2019-08-20	Other Events
8-K	2019-07-31	Earnings, Exhibits
8-K	2019-05-27	Enter Agreement, Exhibits
8-K	2019-05-27	Amend Bylaw, Other Events, Exhibits
8-K	2019-05-02	Amend Bylaw, Shareholder Vote, Exhibits
8-K	2019-04-23	Earnings, Exhibits
8-K	2019-01-31	Other Events
8-K	2019-01-29	Earnings, Exhibits
8-K	2018-10-23	Earnings, Exhibits
8-K	2018-10-22	Officers
8-K	2018-07-24	Earnings, Exhibits
8-K	2018-06-20
8-K	2018-05-11	Other Events, Exhibits
8-K	2018-04-26	Shareholder Vote
8-K	2018-04-24	Earnings, Exhibits
8-K	2018-04-23	Enter Agreement, Off-BS Arrangement, Exhibits
8-K	2018-01-23	Earnings, Exhibits
8-K	2018-01-10	Enter Agreement, M&A, Off-BS Arrangement, Other Events, Exhibits

Total System Services Financials

TSS Metrics, Comps, Filings

Quarterly | Annual

Business

Business. Based in Columbus, Georgia, and traded on the New York Stock Exchange under the symbol “TSS,” we are a global payment solutions provider that provides payment processing services, merchant services and related payment services to financial and nonfinancial institutions. In addition, we provide general purpose reloadable (“GPR”) prepaid debit and payroll cards, demand deposit accounts and other financial service solutions to the underbanked and other consumers and businesses. The services we provide are divided into three operating segments, Issuer Solutions, which accounted for 46% of our revenues in 2018, Merchant Solutions, which accounted for 34% of our revenues in 2018 and Consumer Solutions, which accounted for 20% of our revenues in 2018.

Seasonality. Due to the somewhat seasonal nature of the payments industry, our revenues and results of operations have generally increased in the fourth quarter of each year because of increased transaction and authorization volumes during the traditional holiday shopping season.

Intellectual Property. Our intellectual property portfolio is a component of our ability to provide of transaction processing and other payment-related services. We rely on a combination of contractual rights and copyright, trademark, patent and trade secret laws to establish and protect our proprietary technology. We also use various licensed intellectual property to conduct our business. In addition to using our intellectual property in our own operations, we grant licenses to certain of our clients to use our intellectual property.

Valuation ($BB)

Market Cap, Enterprise Value

Balance Sheet ($BB)

Assets, Equity

Income Statement ($BB Quarterly)

Revenue, G Profit, Net Income

Cash Flow ($BB Quarterly)

Ops, Inv, Fin


Comps ($MM TTM)	Market Cap	Gross Margin	EV/EBITDA	Ret on Assets	Assets	Liabilities	Revenue	G Profit	Net Income	EBITDA	EV
Worldpay (WP)	38,371	53%	26.0	1%	27,097	16,552	4,111	2,170	302	1,644	42,766
eBay (EBAY)	33,382	77%	14.0	11%	18,714	15,444	10,856	8,380	1,990	2,864	40,223
MercadoLibre (MELI)	26,848	50%	4,402.5	-3%	4,439	2,302	2,050	1,031	-120	6	26,014
FleetCor (FLT)	26,717	0%	23.1	8%	11,914	8,014	2,593	0	962	1,287	29,723
First Data (FDC)	26,217	0%	19.1	2%	51,031	43,518	9,569	0	1,213	2,176	41,631
Total System Services (TSS)	22,430	26%	29.2	6%	7,707	5,212	3,085	793	480	889	25,990
CoStar Group (CSGP)	21,793	79%	45.7	8%	3,715	416	1,341	1,058	311	446	20,403
MSCI (MSCI)	19,301	80%	23.4	17%	3,480	3,628	1,513	1,214	593	897	20,998
Broadridge (BR)	14,688	28%	26.2	11%	4,220	3,077	4,338	1,218	461	615	16,128
Akamai Technologies (AKAM)	14,608	66%	15.9	7%	6,357	2,856	2,835	1,861	453	873	13,869
Fair Isaac (FICO)	9,621	71%	33.8	13%	1,433	1,144	1,160	823	192	295	10,000
Western Union (WU)	9,487	31%	5.2	13%	8,804	8,823	5,386	1,654	1,135	1,550	8,089
WEX (WEX)	8,953	63%	44.1	1%	8,541	6,543	1,284	804	91	254	11,219
Nielsen (NLSN)	7,490	42%	-23.4	-9%	14,343	11,990	6,465	2,719	-1,247	-660	15,468
Etsy (ETSY)	6,880	67%	66.4	4%	1,499	1,110	548	368	65	105	6,979
Alliance Data Systems (ADS)	6,663	35%	1.1	2%	27,158	25,661	6,176	2,138	465	1,473	1,611
Zillow Group (Z)	6,113	54%	-36.0	-3%	6,076	2,624	1,799	976	-204	-144	5,193
CDK Global (CDK)	5,735	49%	18.7	4%	3,059	3,730	2,176	1,076	124	445	8,346
Athenahealth (ATHN)	5,427	54%	28.0	8%	1,589	521	1,311	705	126	192	5,382
Grubhub (GRUB)	5,193	0%	49.8	0%	2,379	878	971	0	9	106	5,294


Balance Sheet ($MM)	2010-06-30	2010-09-30	2010-12-31	2011-03-31	2011-06-30	2011-09-30	2011-12-31	2012-03-31	2012-06-30	2012-09-30	2012-12-31	2013-03-31	2013-06-30	2013-09-30	2013-12-31	2014-03-31	2014-06-30	2014-09-30	2014-12-31	2015-03-31	2015-06-30	2015-09-30	2015-12-31	2016-03-31	2016-06-30	2016-09-30	2016-12-31	2017-03-31	2017-06-30	2017-09-30	2017-12-31	2018-03-31	2018-06-30	2018-09-30	2018-12-31	2019-03-31	2019-06-30
Cash	388	373	395	252	263	281	316	371	419	357	248	223	1,374	397	278	274	251	266	289	328	349	448	389	1,932	465	447	425	465	428	414	450	494	461	487	474	497	461
Accounts Receivable	232	265	238	237	226	247	249	254	246	248	247	237	250	262	264	269	281	309	283	316	315	333	315	349	397	414	433	406	442	409	412	420	441	486	450	490	514
Inventory
PP&E	293	299	300	297	294	286	624	261	259	265	625	253	249	260	666	263	275	275	714	285	287	287	747	284	287	282	763	281	281	282	846	360	363	373	906	385	374
Assets	1,896	1,921	1,952	1,785	1,832	1,849	1,858	1,906	1,937	1,970	2,024	2,039	3,188	3,755	3,687	3,721	3,678	3,721	3,734	3,777	3,813	3,890	3,908	5,424	6,477	6,375	6,366	6,351	6,277	6,219	6,332	7,532	7,466	7,473	7,469	7,774	7,707
Accounts Payable	48	10	36	32	29	26	26	36	28	33	63	33	29	44	36	51	44	55	49	58	57	55	52	45	34	37	39	46	53	53	62	66	63	60	98	73	58
Long-Term Debt	196	196	234	230	227	225	220	216	222	201	202	194	1,282	1,522	1,463	1,454	1,446	1,451	1,442	1,432	1,422	1,412	1,430	2,903	3,643	3,464	3,360	3,259	3,131	2,954	3,151	4,093	4,028	3,851	3,864	4,160	4,021
Liabilities	530	546	548	540	504	531	537	538	523	520	539	526	1,614	2,091	2,044	2,068	2,030	2,009	2,011	2,040	2,010	1,985	2,036	3,477	4,468	4,284	4,242	4,191	3,999	3,849	3,975	5,011	4,965	4,833	4,883	5,421	5,212
Stockholders' Equity	1,239	1,243	1,241	1,228	1,310	1,298	1,301	1,349	1,393	1,391	1,425	1,455	1,516	1,605	1,581	1,607	1,618	1,683	1,693	1,708	1,774	1,876	1,843	1,922	1,985	2,066	2,100	2,145	2,265	2,357	2,241	2,395	2,502	2,640	2,586	2,353	2,495


Income Statement ($MM)	2010-06-30	2010-09-30	2010-12-31	2011-03-31	2011-06-30	2011-09-30	2011-12-31	2012-03-31	2012-06-30	2012-09-30	2012-12-31	2013-03-31	2013-06-30	2013-09-30	2013-12-31	2014-03-31	2014-06-30	2014-09-30	2014-12-31	2015-03-31	2015-06-30	2015-09-30	2015-12-31	2016-03-31	2016-06-30	2016-09-30	2016-12-31	2017-03-31	2017-06-30	2017-09-30	2017-12-31	2018-03-31	2018-06-30	2018-09-30	2018-12-31	2019-03-31	2019-06-30
Revenue	434	433		429	448	460	472	461	463	468	479	465	478	588	601	593	607	617	635	662	693	708	717	739	1,152	1,147	1,132	1,185	1,260	1,248	1,273	987	1,008	1,015		1,035	1,035
Cost of Revenue	298	303	312	301	312	321	323	318	313	316	316	321	323	395	403	423	445	407	422	450	460	456	489	481	838	840	826	862	899	898	939	613	618	624		632
Gross Profit	135	131		128	136	138	149	143	150	152	163	144	156	193	197	170	162	210	213	212	233	251	228	259	314	307	306	323	361	349	334	374	390	391		402
R&D
SG&A	56	52	57	55	57	57	60	58	58	61	74	66	69	81	85	88	93	79	90	90	102	88	110	107	178	151	175	156	156	149	160	186	217	175		179	186
Tax	28	31	19	25	35	24	29	30	43	30	31	18	30	31	16	24	31	39	35	40	42	38	32	43	40	44	33	43	56	73	75	18	37	38		30	31
Net Income	52	50	47	49	57	58	60	58	68	62	61	59	61	67	66	52	111	85	80	79	83	122	83	92	72	87	74	107	136	125	242	143	161	156		162	163


Cash Flow ($MM)	2010-06-30	2010-09-30	2010-12-31	2011-03-31	2011-06-30	2011-09-30	2011-12-31	2012-03-31	2012-06-30	2012-09-30	2012-12-31	2013-03-31	2013-06-30	2013-09-30	2013-12-31	2014-03-31	2014-06-30	2014-09-30	2014-12-31	2015-03-31	2015-06-30	2015-09-30	2015-12-31	2016-03-31	2016-06-30	2016-09-30	2016-12-31	2017-03-31	2017-06-30	2017-09-30	2017-12-31	2018-03-31	2018-06-30	2018-09-30	2018-12-31	2019-03-31	2019-06-30
Cash Operating		84	109	102	97	98	139	98	105	131	122	52	105	150	145	149	91	151	170	158	127	175	140	146	193	212	167	260		251	204	212	259	282		228	168
Cash Investing		-44	-102	-14	-70	-22	-35	-19	-41	-93	-157	-56	-24	-1,355	-75	-48	-13	-103	-62	-42	-56	-41	-64	-44	-2,384	-28	-36	-33		-44	-88	-1,085	-59	-54		-83	-37
Cash Financing		-63	18	-231	-20	-57	-63	-23	-15	-104	-71	-17	1,072	225	-188	-72	-135	-29	-80	-74	-52	-32	-132	1,442	728	-201	-147	-190		-223	-80	914	-227	-203		-124	-165