A Business at a Glance
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Fidelity National Information Services, Inc.
FIS
$21.7B
Mkt Cap
$41.51
+3.67%
Fidelity National Information Services, Inc. (FIS) has a current P/E ratio of 56.9, compared to its historical median P/E of 34.6. The stock is currently considered Fair based on its historical valuation range.
Fidelity National Information Services, Inc. (FIS) has a 5-year average return on invested capital (ROIC) of 2.6%. This is below average and may indicate limited pricing power.
Fidelity National Information Services, Inc. (FIS) has a market capitalization of $26.6B. It is classified as a large-cap stock.
Yes, Fidelity National Information Services, Inc. (FIS) pays a dividend with a trailing twelve-month yield of 3.23%. The company also returns capital through share buybacks, with a buyback yield of 3.59%.
Based on historical P/E analysis, Fidelity National Information Services, Inc. (FIS) appears fair. The current P/E of 56.9 is 64% above its historical median of 34.6. The estimated fair value CAGR (P/E method) is 2.1%.
Fidelity National Information Services, Inc. (FIS) operates in the Services-Business Services, Nec industry, within the Industrials sector.
FIS is a global financial technology company providing solutions across the money lifecycle to financial institutions, businesses, and developers. The company operates through two primary segments: Banking Solutions, which serves financial institutions with core processing software, digital banking, fraud and risk management, card and retail payments, electronic funds transfer networks, and wealth and retirement solutions; and Capital Market Solutions, which serves capital markets participants with trading, analytics, and treasury management tools. FIS generates recurring revenue through multi-year processing contracts with financial institutions, complemented by non-recurring software licenses and professional services, creating a predictable cash flow model that supports reinvestment in innovation and infrastructure. The company's competitive strengths include its global brand, extensive domain expertise across banking and capital markets, long-term client relationships with high retention rates, advanced data and cloud-based technologies including AI and machine learning capabilities, and significant global scale and distribution. FIS serves a diverse client base ranging from large multinational financial institutions to regional and community banks, credit unions, and commercial enterprises across multiple geographies, leveraging its worldwide presence and talent pool to drive revenue growth and operational efficiency.
【Margin expansion and cash flow acceleration】 Management is confident in delivering pro forma margin expansion of 95–110 basis points in 2026, driven by favorable revenue mix, cost optimization programs, and year-one synergies from the Issuer Solutions acquisition. The company expects free cash flow to grow 27–33% in 2026 to over $2 billion, with a clear path to doubling free cash flow to more than $3 billion by 2028 through EBITDA growth and reduced integration costs. Banking segment momentum is strong, tracking closer to the upper end of its full-year growth range with particular strength in digital banking and network and money movement businesses, while Capital Markets is tracking closer to the lower end due to conservative assumptions around lending activity. Management is prioritizing recurring revenue growth and de-emphasizing episodic licenses, with expectations for accelerating recurring revenue contribution from previously closed new sales and new distribution partnerships beginning in 2027.
| Metric | Target | Period |
|---|---|---|
| Pro forma revenue growth | 5.1%-5.7% | FY2026 |
| Banking segment revenue growth | 5%-5.5% | FY2026 |
| Capital Markets segment revenue growth | 5.5%-6.5% | FY2026 |
| Pro forma EBITDA margin expansion | 95-110 basis points | FY2026 |
| Adjusted EPS growth | 8%-10% | FY2026 |
| Free cash flow | over $2 billion | FY2026 |
| Free cash flow growth | 27%-33% | FY2026 |
| Free cash flow target | more than $3 billion | FY2028 |
Pro forma revenue growth (FY2026): “We continue to target pro forma revenue growth of 5.1%-5.7%, with Banking at 5%-5.5% and Capital Markets at 5.5%-6.5%.”
Banking segment revenue growth (FY2026): “We continue to target pro forma revenue growth of 5.1%-5.7%, with Banking at 5%-5.5% and Capital Markets at 5.5%-6.5%.”
Capital Markets segment revenue growth (FY2026): “We continue to target pro forma revenue growth of 5.1%-5.7%, with Banking at 5%-5.5% and Capital Markets at 5.5%-6.5%.”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q2 FY2025 Earnings Call, Q1 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 11.4B | 10.7B | 10.1B | 9.8B | 9.7B | 9.3B |
| Net Income | 2.7B | 382M | 1.4B | -6.7B | -16.8B | 417M |
| EPS | $4.18 | $0.73 | $2.61 | $-11.26 | $-27.74 | $0.67 |
| Free Cash Flow | 2.7B | 2.5B | 2.1B | 4.2B | 3.7B | 4.5B |
| ROIC | 4.5% | 4.6% | 3.2% | 2.0% | 2.1% | 0.9% |
| Gross Margin | 36.4% | 36.9% | 37.6% | 37.2% | 35.6% | 35.9% |
| Debt/Equity | 1.32 | 0.96 | 0.74 | 1.02 | 0.75 | 0.44 |
| Dividends/Share | $1.34 | $1.60 | $1.44 | $2.08 | $1.88 | $1.56 |
| Operating Income | 1.8B | 1.7B | 1.7B | 1.4B | 1.2B | 1.0B |
| Operating Margin | 15.9% | 16.3% | 16.9% | 14.7% | 12.1% | 11.1% |
| ROE | 16.7% | 2.6% | 8.3% | -28.8% | -44.9% | 0.9% |
| Shares Outstanding | 640M | 523M | 556M | 591M | 604M | 622M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 6.4B | 6.6B | 9.2B | 9.1B | 8.4B | 10.3B | 12.6B | 9.3B | 9.7B | 9.8B | 10.1B | 10.7B | 11.4B |
| Gross Margin | 32.5% | 33.4% | 31.8% | 31.5% | 33.9% | 36.0% | 33.5% | 35.9% | 35.6% | 37.2% | 37.6% | 36.9% | 36.4% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 815M | 1.1B | 1.7B | 1.4B | 1.3B | 2.7B | 3.5B | 2.1B | 2.2B | 2.1B | 2.2B | 2.3B | 2.3B |
| EBIT | 1.3B | 1.1B | 1.2B | 1.4B | 1.5B | 969M | 552M | 1.0B | 1.2B | 1.4B | 1.7B | 1.7B | 1.8B |
| Op. Margin | 19.8% | 16.7% | 13.3% | 15.7% | 17.3% | 9.4% | 4.4% | 11.1% | 12.1% | 14.7% | 16.9% | 16.3% | 15.9% |
| Net Income | 679M | 632M | 525M | 1.3B | 846M | 298M | 158M | 417M | -16.8B | -6.7B | 1.4B | 382M | 2.7B |
| Net Margin | 10.6% | 9.6% | 5.7% | 13.8% | 10.0% | 2.9% | 1.3% | 4.5% | -172.3% | -67.7% | 14.3% | 3.6% | 23.3% |
| Non-Recurring | 0 | 194M | 0 | 62M | -25M | 69M | 85M | 421M | 17.6B | 16M | -10M | -101M | -101M |
| Returns on Capital | |||||||||||||
| ROIC | 7.1% | 4.2% | 3.7% | 7.5% | 5.6% | 1.7% | 0.5% | 0.9% | 2.1% | 2.0% | 3.2% | 4.6% | 4.5% |
| ROE | 10.3% | 8.0% | 5.5% | 12.3% | 8.1% | 1.0% | 0.3% | 0.9% | -44.9% | -28.8% | 8.3% | 2.6% | 16.7% |
| ROA | 4.8% | 3.1% | 2.0% | 5.0% | 3.5% | 0.6% | 0.2% | 0.5% | -22.9% | -11.3% | 3.3% | 1.1% | 6.1% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 1.2B | 1.1B | 1.9B | 1.7B | 2.0B | 2.4B | 4.4B | 4.8B | 3.9B | 4.3B | 2.2B | 2.6B | 2.9B |
| Free Cash Flow | 1.0B | 998M | 1.8B | 1.6B | 1.9B | 2.2B | 4.2B | 4.5B | 3.7B | 4.2B | 2.1B | 2.5B | 2.7B |
| Owner Earnings | 483M | 364M | 635M | 268M | 489M | -436M | 445M | 412M | 1.9B | 2.5B | 252M | 544M | 631M |
| CapEx | 149M | 133M | 145M | 145M | 127M | 200M | 263M | 320M | 227M | 115M | 97M | 154M | 167M |
| Maint. CapEx | 626M | 669M | 1.2B | 1.4B | 1.4B | 2.4B | 3.7B | 4.0B | 1.9B | 1.7B | 1.7B | 1.9B | 2.1B |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 626M | 669M | 1.2B | 1.4B | 1.4B | 2.4B | 3.7B | 4.0B | 1.9B | 1.7B | 1.7B | 1.9B | 2.1B |
| CapEx/OCF | 12.7% | 11.8% | 7.5% | 8.3% | 6.4% | 8.3% | 5.9% | 6.7% | 6.8% | 5.5% | 4.5% | 5.9% | 5.8% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 275M | 305M | 341M | 385M | 421M | 656M | 868M | 961M | 1.1B | 1.2B | 800M | 847M | 859M |
| Dividend Yield | 1.0% | 1.0% | 0.9% | 0.8% | 0.7% | 1.3% | 1.1% | 1.3% | 2.2% | 3.8% | 2.0% | 2.2% | 3.2% |
| Share Buybacks | 522M | 320M | 40M | 153M | 1.3B | 453M | 112M | 2.1B | 1.9B | 522M | 4.0B | 1.4B | 955M |
| Buyback Yield | 3.4% | 2.2% | 0.2% | 0.6% | 4.3% | 0.8% | 0.1% | 3.4% | 5.2% | 1.5% | 9.1% | 4.1% | 3.6% |
| Stock-Based Comp | 56M | 98M | 137M | 107M | 84M | 402M | 283M | 383M | 189M | 120M | 186M | 181M | 178M |
| Debt Repayment | 7.4B | 11.6B | 8.7B | 11.7B | 26.1B | 24.7B | 49.1B | 53.4B | 74.3B | 94.4B | 33.2B | 54.3B | 54.3B |
| Balance Sheet | |||||||||||||
| Net Debt | 4.6B | 10.8B | 9.8B | 8.1B | 8.3B | 19.6B | 18.7B | 18.9B | 20.0B | 18.9B | 10.7B | 12.7B | 20.3B |
| Cash & Equiv. | 493M | 682M | 683M | 665M | 703M | 1.2B | 2.0B | 2.0B | 456M | 440M | 834M | 599M | 755M |
| Long-Term Debt | 5.1B | 11.4B | 10.1B | 7.7B | 8.7B | 17.2B | 16.0B | 14.8B | 14.2B | 13.0B | 9.7B | 9.1B | 16.8B |
| Debt/Equity | 0.77 | 1.23 | 1.08 | 0.82 | 0.88 | 0.42 | 0.42 | 0.44 | 0.75 | 1.02 | 0.74 | 0.96 | 1.32 |
| Interest Coverage | 7.3 | 5.5 | 3.0 | 4.0 | 4.6 | 2.5 | 1.6 | 4.9 | 3.9 | 2.0 | 4.9 | 4.5 | 3.6 |
| Equity | 6.6B | 9.3B | 9.7B | 10.7B | 10.2B | 49.4B | 49.3B | 47.3B | 27.2B | 19.1B | 15.7B | 13.9B | 16.0B |
| Total Assets | 14.5B | 26.2B | 26.0B | 24.5B | 23.8B | 83.8B | 83.8B | 82.9B | 63.3B | 55.0B | 33.8B | 33.5B | 43.5B |
| Total Liabilities | 7.8B | 16.8B | 16.2B | 13.7B | 13.5B | 34.4B | 34.4B | 35.4B | 35.9B | 35.9B | 18.1B | 19.6B | 27.5B |
| Intangibles | 1.3B | 5.2B | 4.7B | 3.9B | 3.1B | 15.8B | 13.9B | 11.5B | 2.5B | 1.8B | 1.3B | 959M | 4.5B |
| Retained Earnings | 2.7B | 3.1B | 3.3B | 4.1B | 4.5B | 4.2B | 3.4B | 2.9B | -15.0B | -22.9B | -22.3B | -22.7B | -20.6B |
| Working Capital | 874M | 1.1B | 1.1B | -323M | 608M | -1.7B | -2.5B | -3.8B | -3.4B | -4.6B | -908M | -3.1B | -3.5B |
| Current Assets | 2.5B | 3.5B | 4.3B | 3.7B | 3.7B | 8.7B | 9.9B | 10.7B | 12.8B | 13.7B | 5.2B | 4.5B | 5.0B |
| Current Liabilities | 1.6B | 2.4B | 3.2B | 4.0B | 3.1B | 10.4B | 12.4B | 14.5B | 16.2B | 18.2B | 6.1B | 7.6B | 8.5B |
| Per Share Data | |||||||||||||
| EPS | 1.18 | 1.10 | 0.80 | 1.88 | 1.28 | 0.66 | 0.25 | 0.67 | -27.74 | -11.26 | 2.61 | 0.73 | 4.18 |
| Owner EPS | 0.84 | 0.63 | 0.96 | 0.40 | 0.74 | -0.97 | 0.70 | 0.66 | 3.10 | 4.18 | 0.45 | 1.04 | 0.99 |
| Book Value | 11.35 | 16.15 | 14.75 | 15.93 | 15.39 | 109.50 | 78.01 | 76.07 | 45.07 | 32.23 | 28.26 | 26.56 | 24.96 |
| Cash Flow/Share | 2.02 | 1.96 | 2.92 | 2.59 | 3.00 | 5.34 | 7.03 | 7.73 | 6.52 | 7.33 | 3.92 | 4.98 | 7.38 |
| Dividends/Share | 0.48 | 0.52 | 0.52 | 0.58 | 0.64 | 1.40 | 1.40 | 1.56 | 1.88 | 2.08 | 1.44 | 1.60 | 1.34 |
| Shares Out. | 577.9M | 577.2M | 660.4M | 672.5M | 663.5M | 451.5M | 632.0M | 622.4M | 603.9M | 591.0M | 555.6M | 523.3M | 640.0M |
| Valuation | |||||||||||||
| P/E Ratio | 22.4 | 23.5 | 38.0 | 21.8 | 34.6 | 187.6 | 502.2 | 147.8 | N/A | N/A | 30.6 | 92.0 | 9.9 |
| P/FCF | 29.9 | 29.7 | 24.3 | 34.4 | 31.4 | 25.3 | 19.0 | 13.7 | 10.0 | 8.2 | 21.3 | 14.3 | 9.9 |
| EV/EBIT | 15.2 | 22.7 | 23.9 | 24.4 | 25.3 | 76.2 | 172.9 | 73.9 | 46.3 | 36.4 | 31.6 | 27.0 | 25.8 |
| Price/Book | 2.3 | 1.6 | 2.2 | 2.6 | 2.9 | 1.1 | 1.6 | 1.3 | 1.4 | 1.8 | 2.8 | 2.5 | 1.7 |
| Price/Sales | 2.1 | 2.4 | 2.2 | 2.9 | 3.5 | 4.7 | 6.2 | 5.4 | 5.2 | 3.3 | 4.0 | 3.5 | 2.3 |
| FCF Yield | 6.7% | 6.7% | 8.2% | 5.8% | 6.4% | 4.0% | 5.3% | 7.3% | 10.0% | 12.2% | 4.7% | 7.0% | 10.2% |
| Market Cap | 15.2B | 14.8B | 21.6B | 27.4B | 29.3B | 55.9B | 79.3B | 61.6B | 37.2B | 34.5B | 44.3B | 35.2B | 26.6B |
| Avg. Price | 45.56 | 54.70 | 60.30 | 74.85 | 89.56 | 108.04 | 124.05 | 119.88 | 84.36 | 54.72 | 73.70 | 72.05 | 41.51 |
| Year-End Price | 52.62 | 51.36 | 65.42 | 81.61 | 88.32 | 123.84 | 125.54 | 99.00 | 61.62 | 58.36 | 79.79 | 67.19 | 41.51 |
Fidelity National Information Services, Inc. passes 2 of 9 quality checks, indicating weak fundamentals.
Fidelity National Information Services, Inc. trades at 56.9x trailing earnings, compared to its 15-year median P/E of 34.6x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 8.7x vs a median of 20.2x. The company's 5-year average ROIC is 2.6% with a gross margin of 36.6%. Total shareholder yield (dividends + buybacks) is 6.8%. At current prices, the estimated annualized return to fair value is -1.4%.
Fidelity National Information Services, Inc. (FIS) reported annual revenue of $10.7 billion in its most recent fiscal year, based on SEC EDGAR filings.
Fidelity National Information Services, Inc. (FIS) has a net profit margin of 3.6%. This is a modest margin.
Fidelity National Information Services, Inc. (FIS) generated $2.5 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Fidelity National Information Services, Inc. (FIS) has a debt-to-equity ratio of 0.96. This indicates moderate leverage.
Fidelity National Information Services, Inc. (FIS) reported earnings per share (EPS) of $0.73 in its most recent fiscal year.
Fidelity National Information Services, Inc. (FIS) has a return on equity (ROE) of 2.6%. This indicates moderate shareholder returns.
Fidelity National Information Services, Inc. (FIS) has a 5-year average gross margin of 36.6%. This indicates decent pricing power.
The Ledger Terminal provides 19 years of financial data for Fidelity National Information Services, Inc. (FIS), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Fidelity National Information Services, Inc. (FIS) has a book value per share of $26.56, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management is confident in delivering pro forma margin expansion of 95–110 basis points in 2026, driven by favorable revenue mix, cost optimization programs, and year-one synergies from the Issuer Solutions acquisition. The company expects free cash flow to grow 27–33% in 2026 to over $2 billion, with a clear path to doubling free cash flow to more than $3 billion by 2028 through EBITDA growth and reduced integration costs. Banking segment momentum is strong, tracking closer to the upper end of its full-year growth range with particular strength in digital banking and network and money movement businesses, while Capital Markets is tracking closer to the lower end due to conservative assumptions around lending activity. Management is prioritizing recurring revenue growth and de-emphasizing episodic licenses, with expectations for accelerating recurring revenue contribution from previously closed new sales and new distribution partnerships beginning in 2027.
Based on recent SEC filings and earnings calls, Fidelity National Information Services, Inc. (FIS) has provided the following forward guidance: Pro forma revenue growth: 5.1%-5.7% (FY2026); Banking segment revenue growth: 5%-5.5% (FY2026); Capital Markets segment revenue growth: 5.5%-6.5% (FY2026); Pro forma EBITDA margin expansion: 95-110 basis points (FY2026); Adjusted EPS growth: 8%-10% (FY2026), plus 3 additional metrics.
Pro forma EBITDA margin expansion (FY2026): “we are on track to deliver pro forma margin expansion of 95 basis points-110 basis points”
Adjusted EPS growth (FY2026): “this will drive adjusted EPS growth of 8%-10%”
Free cash flow (FY2026): “We are confident in the full year cash flow target of $2.1 billion.”
Free cash flow growth (FY2026): “For 2026, we anticipate free cash flow of over $2 billion, growing 27%-33% year-on-year”
Free cash flow target (FY2028): “We expect free cash flow to double by 2028 to more than $3 billion.”