Western Union Co. (WU) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.42	$0.31	-26.2%	—	$1B	—
Q1 26	$0.39	$0.25	-35.9%	—	$982.7M	—
Q4 25	$0.42	$0.36	-14.3%	—	$1B	—
Q3 25	$0.43	$0.47	+9.3%	—	$1B	—
Q2 25	$0.44	$0.42	-4.5%	—	$1B	—
Q1 25	$0.41	$0.41	0.0%	—	$983.6M	—
Q4 24	$0.42	$0.4	-4.8%	—	$1.1B	—
Q3 24	$0.44	$0.46	+4.5%	—	$1B	—
Q2 24	$0.45	$0.44	-2.2%	—	$1.1B	—
Q1 24	$0.41	$0.45	+9.8%	—	$1B	—
Q4 23	$0.37	$0.37	0.0%	—	$1.1B	—
Q3 23	$0.39	$0.43	+10.3%	—	$1.1B	—
Q2 23	$0.39	$0.51	+30.8%	—	$1.2B	—
Q1 23	$0.34	$0.43	+26.5%	—	$1B	—
Q4 22	$0.35	$0.32	-8.6%	—	$1.1B	—
Q3 22	$0.42	$0.42	0.0%	—	$1.1B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$1.53	—	—	$4.1B	—
FY24	—	$2.75	—	—	$4.2B	—
FY23	—	$1.69	—	—	$4.4B	—
FY22	—	$2.35	—	—	$4.5B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$5.4B	$5.5B	$5.6B	$5.3B	$4.8B	$5.1B	$4.5B	$4.4B	$4.2B	$4.1B
YoY change	-1.11%	+1.87%	+1.19%	-5.33%	-8.64%	+4.88%	-11.7%	-2.65%	-3.38%	-3.78%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	5.4B	5.5B	5.6B	5.3B	4.8B	5.1B	4.5B	4.4B	4.2B	4.1B
Cost of revenue	3.3B	3.4B	3.3B	3.1B	2.8B	2.9B	2.6B	2.7B	2.6B	2.6B
Gross profit	2.2B	2.2B	2.3B	2.2B	2B	2.2B	1.8B	1.7B	1.6B	1.5B
Gross margin	39.8%	39.3%	41%	41.7%	41.5%	42.9%	41.3%	38.7%	37.8%	37%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	1.7B	1.2B	1.2B	1.3B	1B	1.1B	964.2M	867.8M	863.4M	742.8M
Operating expenses	1.7B	1.2B	1.2B	1.3B	1B	1.1B	964.2M	867.8M	863.4M	742.8M
Operating income	487M	939.8M	1.1B	934M	967.3M	1.1B	884.9M	817.5M	725.8M	757.3M
Operating margin	8.98%	17%	20.1%	17.6%	20%	22.1%	19.8%	18.8%	17.2%	18.7%
Non-operating income, net	3.7M	-455.1M	14.1M	533.1M	3.1M	-83.6M	210.8M	18M	700K	3.5M
Pretax income	341.7M	347.5M	991.4M	1.3B	855.1M	935.4M	1B	745.8M	618.6M	625.7M
Income tax	88.5M	904.6M	139.5M	263.1M	110.8M	129.6M	98M	119.8M	-315.6M	126.1M
Net income	253.2M	-557.1M	851.9M	1.1B	744.3M	805.8M	910.6M	626M	934.2M	499.6M
Net margin	4.67%	-10.1%	15.2%	20%	15.4%	15.9%	20.3%	14.4%	22.2%	12.3%
EBITDA	757.4M	1.2B	1.4B	1.2B	1.2B	1.2B	1B	1B	917.5M	934.1M
EPS	0.52	-1.19	1.89	2.47	1.81	1.98	2.35	1.69	2.75	1.53
Diluted EPS	0.51	-1.19	1.87	2.46	1.79	1.97	2.34	1.68	2.74	1.52

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	1.1B	1.1B	1B	1.1B	1B	1.1B	983.6M	1B	1B	1B	982.7M	1B
Cost of revenue	687.2M	656.1M	641.3M	663.9M	653.6M	661.7M	619.2M	642.8M	643.2M	645.4M	654.9M	676.7M
Gross profit	410.6M	396.2M	407.8M	402.5M	382.4M	396.5M	364.4M	383.3M	389.4M	363M	327.8M	336.5M
Gross margin	37.4%	37.7%	38.9%	37.7%	36.9%	37.5%	37%	37.4%	37.7%	36%	33.4%	33.2%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	199.7M	236.9M	215.7M	211.8M	217.5M	218.4M	187M	190.6M	187.5M	177.7M	204.8M	204.4M
Operating expenses	199.7M	236.9M	215.7M	211.8M	217.5M	218.4M	187M	190.6M	187.5M	177.7M	204.8M	204.4M
Operating income	210.9M	159.3M	192.1M	190.7M	164.9M	178.1M	177.4M	192.7M	201.9M	185.3M	123M	132.1M
Operating margin	19.2%	15.1%	18.3%	17.9%	15.9%	16.8%	18%	18.8%	19.6%	18.4%	12.5%	13%
Non-operating income, net	16.8M	6.5M	900K	1.9M	200K	-2.3M	800K	1.9M	300K	500K	1.3M	600K
Pretax income	204.3M	144.1M	170M	165.2M	135.7M	147.7M	147.3M	159.7M	167.6M	151.1M	90.1M	95.4M
Income tax	33.3M	17.1M	27.3M	24.2M	-129.1M	-238M	23.8M	37.6M	28M	36.7M	25.4M	18.7M
Net income	171M	127M	142.7M	141M	264.8M	385.7M	123.5M	122.1M	139.6M	114.4M	64.7M	76.7M
Net margin	15.6%	12.1%	13.6%	13.2%	25.6%	36.4%	12.6%	11.9%	13.5%	11.3%	6.58%	7.57%
EBITDA	259.3M	215.5M	242.7M	242.4M	210.9M	221.5M	221.8M	236.6M	245.9M	229.8M	173M	184.2M
EPS	0.46	0.35	0.41	0.42	0.78	1.14	0.37	0.37	0.43	0.36	0.21	0.25
Diluted EPS	0.46	0.35	0.41	0.41	0.78	1.13	0.36	0.37	0.43	0.36	0.2	0.24

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	10.6B	8.9B	7.7B	11.5B	9B	7.3B	5.3B	4.4B	3.6B	3B	1.9B
Enterprise value	10.1B	8.5B	7.7B	11.4B	8.2B	7.9B	6.7B	3.9B	3.3B	2.6B	3.7B
Shares outstanding	490.2M	467.9M	451.8M	427.6M	412.3M	406.8M	387.2M	370.8M	340M	326.6M	326.6M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	42.1	—	9.05	10.8	12.2	9.01	5.86	7.06	3.86	6.09	4.98
P/S	1.96	1.61	1.38	2.16	1.87	1.43	1.19	1.01	0.86	0.75	0.48
P/B	11.8	-18.1	-24.9	-289.9	48.5	20.4	11.2	9.23	3.72	3.17	2.12
EV/EBITDA	13.4	6.97	5.48	9.45	6.87	6.54	6.38	3.8	3.59	2.81	4.45
EV/Sales	1.87	1.53	1.38	2.16	1.7	1.55	1.49	0.89	0.78	0.65	0.92
Earnings yield	2.38%	—	11.1%	9.24%	8.23%	11.1%	17.1%	14.2%	25.9%	16.4%	20.1%
FCF yield	7.63%	6.35%	6.26%	6.87%	7.97%	11.4%	7%	14.4%	7.65%	12.9%	18.7%
PEG	—	—	—	—	—	—	—	—	—	—	-0.15

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	39.8%	39.3%	41%	41.7%	41.5%	42.9%	41.3%	38.7%	37.8%	37%	33.2%
Operating margin	8.98%	17%	20.1%	17.6%	20%	22.1%	19.8%	18.8%	17.2%	18.7%	13%
Net margin	4.67%	-10.1%	15.2%	20%	15.4%	15.9%	20.3%	14.4%	22.2%	12.3%	9.8%
ROE	28.1%	113.4%	-275%	-2.7K%	398.9%	226.6%	190.6%	130.7%	96.4%	52.2%	44%
ROA	2.69%	-6.03%	9.47%	12.1%	7.84%	9.13%	10.7%	7.64%	11.2%	6.01%	5.12%
ROIC	92.8%	0%	-313.2%	-880%	-134.5%	100.8%	44.2%	-893.5%	109.5%	111%	61.5%
Return on tangible assets	14.3%	-21.4%	36.2%	40.2%	22.2%	20.6%	25.9%	18.6%	25.8%	14.7%	13.5%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	0.91	0.84	0.75	0.87	0.93	0.96	0.75	0.92	1.27	1.13	0.28
Quick ratio	0.91	0.84	0.75	0.87	0.93	0.96	0.75	0.92	1.27	1.13	1.05
Debt / equity	3.09	-6.17	-11.1	-87.9	17.7	9.03	5.48	5.57	3.23	2.79	2.95
Debt / assets	0.3	0.33	0.38	0.4	0.35	0.36	0.31	0.33	0.37	0.32	0.34
Net debt / EBITDA	-0.68	-0.34	0	-0.04	-0.68	0.5	1.27	-0.55	-0.33	-0.44	-0.12
Interest coverage	3.24	3.45	7.63	9.69	8.22	9.87	11	8.08	6.16	5.38	4.37
Effective tax rate	25.9%	100%	14.1%	19.9%	13%	13.9%	9.72%	16.1%	0%	20.2%	21.6%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	11.1	11.8	12.4	12.4	11.7	12.5	11.6	11.8	12.4	12.4	12.7
EPS (basic)	0.52	-1.19	1.89	2.47	1.81	1.98	2.35	1.69	2.75	1.53	1.53
EPS (diluted)	0.51	-1.19	1.87	2.46	1.79	1.97	2.34	1.68	2.74	1.52	1.24
Book value per share	1.84	-1.05	-0.69	-0.09	0.45	0.87	1.23	1.29	2.85	2.93	2.91
FCF per share	1.66	1.21	1.07	1.84	1.75	2.04	0.96	1.71	0.81	1.2	1.35
Cash per share	6.73	7.38	7.6	8.23	9.98	6.41	3.32	8.69	10.1	9.44	2.95
Capex per share	0.14	0.15	0.3	0.11	0.09	0.09	0.08	0.06	0.11	0.08	0.18

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	1.27%	1.25%	2.45%	0.91%	0.75%	0.74%	0.71%	0.53%	0.89%	0.67%	1.36%
Capex / operating cash flow	9.31%	-11%	13.8%	3.29%	3.76%	3.63%	3.23%	2.63%	4.67%	5.02%	9%
Payout ratio	123.3%	-58.4%	40.1%	32.2%	49.8%	47.4%	40%	55.8%	34.4%	61.8%	75.8%
Dividend yield	2.93%	3.66%	4.43%	2.98%	4.09%	5.26%	6.83%	7.9%	8.92%	10.2%	15.5%

Yield

15.5%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.235

ex-dividend Sep 16, 2026

Payout ratio

76%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 16, 2026	$0.235
Jun 16, 2026	$0.235
Mar 17, 2026	$0.235

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$1.1B	$1.1B	$1B	$1.1B	$1B	$1.1B	$983.6M	$1B	$1B	$1B	$982.7M	$1B
YoY change	+0.75%	-3.63%	+1.18%	-8.85%	-5.63%	+0.56%	-6.24%	-3.78%	-0.33%	-4.71%	-0.09%	-1.26%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	3.3B	3.5B	3.4B	3.5B	4.1B	2.6B	1.3B	3.2B	3.4B	3.1B
Receivables	1.3B	1.6B	1.4B	1.2B	1.1B	1.2B	—	1.7B	1.4B	1.6B
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	4.8B	5.2B	4.9B	4.9B	5.5B	2.6B	1.5B	5.2B	5.2B	5B
Property, plant & equipment	132.2M	125.6M	181.8M	386.2M	339.5M	-178.1M	110.3M	218M	245.3M	290.2M
Goodwill & intangibles	7.7B	6.6B	6.6B	6.1B	6.1B	4.9B	5B	4.8B	4.8B	4.9B
Total assets	9.4B	9.2B	9B	8.8B	9.5B	8.8B	8.5B	8.2B	8.4B	8.3B
Accounts payable	1.1B	718.5M	564.9M	601.9M	500.9M	450.2M	464M	453M	407.9M	408.4M
Short-term debt	—	—	1.1B	745M	580M	775M	680M	864.9M	—	—
Total current liabilities	5.3B	6.2B	6.6B	5.7B	5.9B	2.7B	2.1B	5.7B	4.1B	4.4B
Long-term debt	2.8B	3B	2.3B	2.7B	2.7B	2.4B	1.9B	1.8B	3.1B	2.7B
Total liabilities	8.5B	9.7B	9.3B	8.8B	9.3B	8.5B	8B	7.7B	7.4B	7.3B
Shareholders' equity	902.2M	-491.4M	-309.8M	-39.5M	186.6M	355.6M	477.8M	479M	968.9M	957.8M
Total debt	2.8B	3B	3.4B	3.5B	3.3B	3.2B	2.6B	2.7B	3.1B	2.7B
Net debt	718.6M	930.6M	1.2B	1.7B	1.2B	2B	1.3B	902.3M	1B	1B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	1.1B	3.2B	2.9B	2.9B	2.9B	3.4B	2.9B	2.9B	2.8B	3.1B	2.9B	2.8B
Receivables	—	1.7B	1.8B	1.8B	1.5B	1.4B	1.9B	1.6B	1.4B	1.6B	1.5B	1.5B
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	1.1B	5.2B	4.7B	4.7B	4.4B	5.2B	4.8B	4.4B	4.2B	5B	4.4B	4.3B
Property, plant & equipment	-448.8M	218M	-446.1M	-440.5M	-448.8M	245.3M	-465.5M	-454.9M	-468.2M	290.2M	-479.2M	-483.7M
Goodwill & intangibles	4.9B	4.8B	4.8B	4.8B	4.8B	4.8B	4.7B	4.8B	4.9B	4.9B	5B	5B
Total assets	7.9B	8.2B	8.1B	8B	7.7B	8.4B	8.3B	8B	7.8B	8.3B	8.1B	8B
Accounts payable	433.1M	453M	392.7M	376.5M	426M	407.9M	376.2M	387.5M	429.7M	408.4M	410.9M	407.2M
Short-term debt	670M	864.9M	899.9M	994.8M	945M	—	350M	307.3M	149.7M	434.9M	334M	245.1M
Total current liabilities	1.8B	5.7B	5.6B	5.5B	4.9B	4.1B	4.5B	4.1B	3.9B	4.4B	4.4B	4.1B
Long-term debt	1.6B	1.8B	1.6B	1.6B	1.6B	3.1B	2.4B	2.4B	2.4B	2.7B	2.3B	2.5B
Total liabilities	7.3B	7.7B	7.7B	7.5B	7B	7.4B	7.4B	7.1B	6.9B	7.3B	7.2B	7.1B
Shareholders' equity	613.6M	479M	397.9M	440.8M	652.7M	968.9M	939.4M	883.6M	925.4M	957.8M	910.5M	914.7M
Total debt	2.3B	2.7B	2.5B	2.6B	2.6B	3.1B	2.8B	2.7B	2.6B	3.1B	2.6B	2.7B
Net debt	1.2B	902.3M	1B	1.2B	1.2B	1B	1.3B	1.3B	1.2B	1.5B	1.1B	1.3B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	253.2M	-557.1M	851.9M	1.1B	744.3M	805.8M	910.6M	626M	934.2M	499.6M
Depreciation & amortization	263.2M	262.9M	264.7M	257.7M	225.6M	208.2M	183.8M	183.6M	179.1M	165.4M
Stock-based compensation	—	—	—	—	—	—	—	—	—	—
Change in working capital	298.2M	-526.2M	-180.1M	52.9M	-157.7M	-121.4M	-194M	-43.3M	-187.1M	-83.7M
Operating cash flow	738.7M	-626.7M	987.6M	1.5B	971.9M	1B	989.1M	869.2M	800.9M	543.7M
Capital expenditure	-68.8M	-69.1M	-136.7M	-48.1M	-36.5M	-37.7M	-31.9M	-22.9M	-37.4M	-27.3M
Investing cash flow	-110.1M	-96.6M	-126.5M	246.6M	-253.2M	368.9M	701.8M	-15.9M	76.9M	-106.8M
Dividends paid	-312.2M	-325.6M	-341.7M	-340.8M	-370.3M	-381.6M	-364.2M	-349M	-321.5M	-309M
Share repurchases	-501.6M	-502.8M	-412.4M	-552.6M	-239.7M	-409.9M	-369.9M	-308.4M	-186.2M	-234.6M
Financing cash flow	-1.2B	-583.5M	-242.3M	-1.5B	-188.1M	-1.3B	-1.2B	-897M	-69.3M	-782.6M
Net change in cash	-617M	-1.3B	618.8M	188.6M	530.6M	127.4M	504.1M	-43.7M	808.5M	-345.7M
Free cash flow	812.1M	564.9M	482.3M	786.9M	720.7M	830.7M	373.4M	635.3M	275.7M	392.9M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	171M	127M	142.7M	141M	264.8M	385.7M	123.5M	122.1M	139.6M	114.4M	64.7M	76.7M
Depreciation & amortization	46M	45.1M	46.6M	46.1M	43M	43.4M	41.9M	40.2M	41.3M	42M	46.7M	49.3M
Stock-based compensation	—	—	—	—	—	—	—	—	—	—	—	—
Change in working capital	100K	62.3M	-124.1M	-33.7M	59.8M	-89.1M	-48.8M	3.1M	34.8M	-72.8M	-29M	-46.3M
Operating cash flow	246.2M	283.6M	85.2M	183.8M	406.5M	374.2M	150.3M	215.7M	260.4M	135.4M	109M	104.9M
Capital expenditure	-5M	-6.7M	-11M	-5.1M	-7M	-14.3M	-3.4M	-7.5M	-16M	-7.1M	-20.7M	-11.1M
Investing cash flow	10.7M	-40.4M	17.8M	-37.8M	-45.4M	142.3M	-90.1M	-44.8M	5.7M	15.7M	-29.4M	-39.3M
Dividends paid	-87.3M	-83M	-80.5M	-81.8M	-79.6M	-79.6M	-82.3M	-76.8M	-75.5M	-74.4M	-79.4M	-73.4M
Share repurchases	-91.1M	-211.3M	-150.6M	-30.2M	-1.7M	-3.7M	-76.7M	-79.5M	-52.3M	-26.1M	-52.9M	-11.1M
Financing cash flow	-225.5M	-51.7M	-368.1M	-54.4M	-204.2M	-370.6M	-696.6M	23.7M	-263.9M	154.2M	-208.2M	-348.1M
Net change in cash	31.4M	191.5M	-265.1M	91.6M	156.9M	145.9M	-636.4M	194.6M	2.2M	305.3M	-128.6M	-282.5M
Free cash flow	227.5M	233.9M	58.9M	-63.2M	184.8M	95.2M	123.8M	-29.3M	213.1M	85.3M	62.2M	63.5M

Western Union Co. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement