PresentationTien-Tsin HuangJPMorgan Chase & Co, Research Division Great, everyone. Thanks for joining. My name is Tien-Tsin Huang. I follow the payments and IT services sector at JPMorgan. And I was telling Cameron, really grateful to cover a space and have learned a ton over the years, and there's been a lot of change and delighted to have Cameron Bready, who's the CEO of Global Payments, give us an update. We've had Worldpay on the stage here before Cameron. And of course, you're going through this transa ...

Global Payments (NYSE:GPN) Conference September 17, 2025 06:50 AM ET Company ParticipantsCameron Bready - CEOConference Call ParticipantsTien-tsin Huang - Senior AnalystTien-tsin Huang - Senior AnalystTien-tsin HuangThanks for joining. My name is Tien-tsin Huang. I follow the payments and IT services sector at JPMorgan. I was telling Cameron, really grateful to cover a space and have learned a ton over the years. There's been a lot of change. I'm delighted to have Cameron Bready, who's the CEO of Global Pay ...

With a market cap of $20.4 billion, Global Payments Inc. (GPN) is a leading provider of payment technology and software solutions worldwide. The company operates primarily through its Merchant Solutions and Issuer Solutions segments, offering businesses and financial institutions secure, seamless, and innovative payment processing and software services. Companies valued over $10 billion are generally described as “large-cap” stocks, and Global Payments fits right into that category. With a global presence ...

核心观点 - 公司业务处于拐点 买入评级 [1] - Genius产品推出和GTM战略重置已显现实际成效 [1] - Worldpay收购即将完成 [1] 业务战略 - 推出Genius支付解决方案并重置GTM（Go-To-Market）市场进入策略 [1] - 通过收购Worldpay强化市场地位 [1] 投资逻辑 - 关注具备规模化潜力和终值释放能力的企业 [1] - 核心分析维度包括竞争壁垒、单位经济效应、再投资空间和管理质量 [1] - 重点研究具备长期顺风趋势的行业 [1] - 投资分析聚焦长期自由现金流创造和股东价值提升 [1]

核心观点 - 全球支付公司处于业务拐点 买入评级 [1] - Genius产品推出和GTM战略重置已显现实际成效 [1] - Worldpay收购计划即将推进 [1] 业务分析 - 公司具备规模化潜力和巨大终值释放能力 [1] - 核心竞争优势和单位经济效益持续优化 [1] - 管理层具备高质量资本配置能力 [1] 投资逻辑 - 关注长期自由现金流生成和股东价值创造 [1] - 投资策略聚焦基本面研究和估值驱动 [1] - 重点布局具备强劲顺周期趋势的行业领域 [1] 研究背景 - 分析来源为自主管理基金的专业投资者 [1] - 研究经验积累时间达10年 [1] - 研究目标为识别长期股权价值驱动因素 [1]

公司表现 - Global Payments自2021年下半年以来表现逊于标普500金融板块[1] - 作为支付处理商 其销售业绩与行业景气度高度关联[1] 分析师背景 - 分析师来自IT行业 担任Keylogin InfoTech总监 拥有25年投资经验[1] - 研究侧重于技术主题 包括自动化供应链 生成式AI 电信资本支出 软件通缩特性和半导体[1] - 采用逆向投资策略 同时覆盖以"科技生物"为重点的生物技术领域[1] - 投资生涯始于共同基金和指数基金 后转向个股投资 在2008/2009年金融危机中因错误建议遭受重大损失[1] 研究特点 - 分析基于自身经验并辅以数据分析 经常使用图表支持观点[1] - 研究风格偏保守 注重资本保全策略 根据全球金融危机期间的损失经验更关注投资方向[1] - 职业生涯初期从事虚拟化和云实施工作 后成为电信行业团队领导和项目负责人[1]

公司表现 - Global Payments (GPN) 自2021年下半年以来表现持续落后于标普500金融板块 [1] 分析师背景 - 分析师来自科技行业背景 担任Keylogin InfoTech总监 拥有25年投资经验 [1] - 研究侧重于科技主题 包括自动化供应链 生成式AI 电信资本支出 软件通缩特性和半导体 [1] - 采用分析驱动的研究方法 频繁使用图表支持观点 投资风格偏保守并注重资本保全 [1]

In my previous Global Payments (NYSE: GPN ) analysis titled Global Payments: Massive Potential With Or Without Worldpay Deal, I pointed out how GPN has significant potential once the Worldpay transaction is completed in 2026, although they can do veryAs of 2025, I've got over 10 years of researching companies. In total, throughout my investing life, I estimate that I researched (in depth) well over 1000 companies, from commodities like oil, natural gas, gold and copper to tech like Google or Nokia and many ...

In my previous Global Payments (NYSE: GPN ) analysis titled Global Payments: Massive Potential With Or Without Worldpay Deal, I pointed out how GPN has significant potential once the Worldpay transaction is completed in 2026, although they can do veryAs of 2025, I've got over 10 years of researching companies. In total, throughout my investing life, I estimate that I researched (in depth) well over 1000 companies, from commodities like oil, natural gas, gold and copper to tech like Google or Nokia and many ...

公司业务动态 - Global Payments Inc 宣布其Genius平台现面向英国的快餐和快速休闲餐厅客户开放 [1] - Genius平台将销售点系统、厨房管理、后台办公、支付、汽车穿梭点餐和数字标牌等多种功能集成于一个平台 [1] - 该平台专为速度和规模而构建，旨在满足快餐和快速休闲餐厅的复杂需求 [1] 行业解决方案 - 该解决方案针对快餐和快速休闲餐饮行业 [1] - 平台整合了支付技术与软件解决方案 [1]