NYSE · Technology

Fidelity National Information Services, Inc.

FIS · Information Technology Services

$47.31

▲ 0.77 (1.65%)

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Mr. Market is currently offering Fidelity National Information Services, Inc. at $47.31.

The business passes only 2 of 7 of Graham's defensive criteria — well below his required standard.

Overall Grade

Defensive

Enterprising

Profitability B

Gross Profit Margin 36.9%

Operating Margin 16.5%

Net Income Margin 3.6%

Fin. Health F

Years to Pay Off Debt 34.9 yrs

Working Capital vs Long-Term Debt -$12.2B

Working Capital -$3.1B

Valuation F

Margin of Safety 0.0%

Price-to-Book 1.76x

Cash Flow C

Free Cash Flow $1.8B

CapEx % of Net Income 258.9%

Owner Earnings $3.3B

2/7

Graham Score

Speculative

Defensive — Graham's strict criteria (P/B, P/E, dividends, stability) · Enterprising — Profitability & cash flow focused, accepts higher valuations for quality

Market Data

Market Cap $24.5B

Enterprise Value $36.7B

P/E (TTM) 64.81

Dividend Yield 3.44%

Exchange NYSE

Key Margins

Gross Profit 36.9%

Operating Margin 16.5%

Net Margin 3.6%

Company Info

Sector Technology

Industry Information Technology Services

Employees 44000

Country United States

Visit website

📖

Full Graham Analysis

Mr. Market is currently offering Fidelity National Information Services, Inc. at $47.31.

The business passes only 2 of 7 of Graham's defensive criteria — well below his required standard.

At $47.31, the stock trades at a 125% premium to its Graham Number of $21.02. Graham would consider this price speculative.

There is no margin of safety at the current price. Graham would advise patience and waiting for a better entry point.

Negative NCAV — liabilities exceed current assets. Common in capital-return businesses (buybacks, debt-funded dividends) and capital-intensive industries. Not automatically a warning sign..

Conclusion: By Graham's standards, this stock is speculative at its current price. The intelligent investor would look elsewhere or wait.

About Fidelity National Information Services, Inc.

Fidelity National Information Services, Inc. provides solutions to financial institutions, businesses, and developers worldwide. The company operates through Banking Solutions, Capital Market Solutions, and Corporate and Other segments. It provides core processing and ancillary applications; mobile and online banking; fraud, risk management, and compliance; card and retail payment; electronic funds transfer and network; wealth and retirement; and item processing and output solutions. The company also offers trading and assets, lending, leveraged and syndicated loan markets, and treasury and risk solutions. Fidelity National Information Services, Inc. was founded in 1968 and is headquartered in Jacksonville, Florida.

Showing Key Metrics

Income Highlights

Metric	2025	2024	2023	2022	2021
Gross Profit %	36.9% ▼	37.6%	37.2%	35.6%	N/A
Operating Margin %	16.5% ▼	17.4%	15.9%	13.2%	N/A
Net Income %	3.6% ▼	14.3%	-67.7%	-172.3%	N/A
Diluted EPS	0.73 ▼	2.61	-11.26	-27.68	N/A

Balance Sheet Highlights

Metric	2025	2024	2023	2022	2021
Total Assets	$33.5B	$33.8B	$55.0B	$63.3B	N/A
Total Debt	$13.3B ↑	$11.5B	$19.3B	$20.4B	N/A
Working Capital	-$3.1B ▼	-$908M	-$4.6B	-$3.4B	N/A
Years to Pay Debt	34.90	7.96	-2.91	-1.22	N/A

Cash Flow Highlights

Metric	2025	2024	2023	2022	2021
Free Cash Flow	$1.8B ▲	$1.3B	$3.6B	$626M	N/A
Owner Earnings	$3.3B	$4.0B	-$4.1B	-$13.9B	N/A
CapEx % of Net Income	258.9%	56.3%	N/A	N/A	N/A

Income Statement

	2025	2024	2023	2022	2021
Tax Effect Of Unusual Items	-4,050	-14,508	-26,894	-36,050
Tax Rate For Calcs	0	0	0	0
Normalized EBITDA	3,468,000	3,437,000	3,232,000	3,177,000
Total Unusual Items	-18,000	-52,000	-113,000	-103,000
Total Unusual Items Excluding Goodwill	-18,000	-52,000	-113,000	-103,000
Net Income From Continuing Operation Net Minority Interest	382,000	787,000	498,000	572,000
Reconciled Depreciation	1,883,000	1,737,000	1,744,000	1,878,000
Reconciled Cost Of Revenue	6,741,000	6,323,000	6,175,000	6,259,000
EBITDA	3,450,000	3,385,000	3,119,000	3,074,000
EBIT	1,567,000	1,648,000	1,375,000	1,196,000
Net Interest Income	-367,000	-250,000	-621,000	-281,000
Interest Expense	391,000	351,000	713,000	298,000
Interest Income	24,000	101,000	92,000	17,000
Normalized Income	395,950	824,492	584,106	638,950
Net Income From Continuing And Discontinued Operation	382,000	1,450,000	-6,655,000	-16,752,000
Total Expenses	8,918,000	8,366,000	8,271,000	8,441,000
Total Operating Income As Reported	1,741,000	1,709,000	1,447,000	1,176,000
Diluted Average Shares	525,000	555,000	591,000	604,000
Basic Average Shares	523,000	553,000	591,000	604,000
Diluted EPS	0	0	0	0
Basic EPS	0	0	0	0
Diluted NI Availto Com Stockholders	382,000	1,450,000	-6,655,000	-16,752,000
Net Income Common Stockholders	382,000	1,450,000	-6,655,000	-16,752,000
Net Income	382,000	1,450,000	-6,655,000	-16,752,000
Minority Interests	-3,000	-3,000	-7,000	-12,000
Net Income Including Noncontrolling Interests	385,000	1,453,000	-6,648,000	-16,740,000
Net Income Discontinuous Operations	0	663,000	-7,153,000	-17,324,000
Net Income Continuous Operations	385,000	790,000	505,000	584,000
Earnings From Equity Interest Net Of Tax	-526,000	-145,000	0	0
Tax Provision	265,000	362,000	157,000	314,000
Pretax Income	1,176,000	1,297,000	662,000	898,000
Other Income Expense	-216,000	-214,000	-277,000	-100,000
Other Non Operating Income Expenses	-198,000	-162,000	-164,000	3,000
Special Income Charges	-18,000	-52,000	-113,000	-103,000
Write Off				17,709,000	202,000
Impairment Of Capital Assets	18,000	52,000	113,000	103,000
Net Non Operating Interest Income Expense	-367,000	-250,000	-621,000	-281,000
Interest Expense Non Operating	391,000	351,000	713,000	298,000
Interest Income Non Operating	24,000	101,000	92,000	17,000
Operating Income	1,759,000	1,761,000	1,560,000	1,279,000
Operating Expense				2,182,000	2,115,000
Other Operating Expenses	-86,000	-142,000
Selling General And Administration	2,263,000	2,185,000	2,096,000	2,182,000
Gross Profit	3,936,000	3,804,000	3,656,000	3,461,000
Cost Of Revenue	6,741,000	6,323,000	6,175,000	6,259,000
Total Revenue	10,677,000	10,127,000	9,831,000	9,720,000
Operating Revenue	10,677,000	10,127,000	9,831,000	9,720,000

Balance Sheet

	2025	2024	2023	2022	2021
Treasury Shares Number	122,000	102,000	48,000	39,000
Ordinary Shares Number	514,000	531,000	583,000	591,000
Share Issued	636,000	633,000	631,000	630,000
Net Debt	12,483,000	10,456,000	18,638,000	19,635,000
Total Debt	13,331,000	11,541,000	19,341,000	20,409,000
Tangible Book Value	-7,698,000	-5,406,000	-1,859,000	5,879,000
Invested Capital	26,981,000	26,988,000	38,128,000	47,309,000
Working Capital	-3,128,000	-908,000	-4,573,000	-3,406,000
Net Tangible Assets	-7,698,000	-5,406,000	-1,859,000	5,879,000
Capital Lease Obligations	249,000	251,000	263,000	318,000
Common Stock Equity	13,899,000	15,698,000	19,050,000	27,218,000
Total Capitalization	22,968,000	25,384,000	32,020,000	41,424,000
Total Equity Gross Minority Interest	13,902,000	15,700,000	19,056,000	27,406,000
Minority Interest	3,000	2,000	6,000	188,000
Stockholders Equity	13,899,000	15,698,000	19,050,000	27,218,000
Gains Losses Not Affecting Retained Earnings	-504,000	-364,000	-260,000	-360,000
Other Equity Adjustments	-504,000	-364,000	-260,000	-360,000
Treasury Stock	10,202,000	8,816,000	4,724,000	4,192,000
Retained Earnings	-22,718,000	-22,257,000	-22,905,000	-14,971,000
Additional Paid In Capital	47,317,000	47,129,000	46,933,000	46,735,000
Capital Stock	6,000	6,000	6,000	6,000
Common Stock	6,000	6,000	6,000	6,000
Total Liabilities Net Minority Interest	19,586,000	18,084,000	35,917,000	35,872,000
Total Non Current Liabilities Net Minority Interest	11,970,000	11,990,000	17,688,000	19,648,000
Other Non Current Liabilities	98,000	90,000	65,000	357,000
Liabilities Heldfor Sale Non Current		0	1,093,000	1,371,000
Preferred Securities Outside Stock Equity					174,000
Derivative Product Liabilities	819,000	633,000	789,000	641,000
Employee Benefits	327,000	278,000	248,000
Non Current Pension And Other Postretirement Benefit Plans	164,000	127,000	110,000
Tradeand Other Payables Non Current	98,000	146,000	17,000
Non Current Deferred Liabilities	1,381,000	980,000	2,328,000	2,854,000
Non Current Deferred Revenue	166,000	117,000	149,000	165,000
Non Current Deferred Taxes Liabilities	1,215,000	863,000	2,179,000	2,689,000
Long Term Debt And Capital Lease Obligation	9,247,000	9,863,000	13,148,000	14,425,000
Long Term Capital Lease Obligation	178,000	177,000	178,000	219,000
Long Term Debt	9,069,000	9,686,000	12,970,000	14,206,000
Current Liabilities	7,616,000	6,094,000	18,229,000	16,224,000
Other Current Liabilities	189,000	1,164,000	8,884,000	7,366,000
Current Deferred Liabilities	957,000	902,000	829,000	777,000
Current Deferred Revenue	957,000	902,000	829,000	777,000
Current Debt And Capital Lease Obligation	4,084,000	1,678,000	6,193,000	5,984,000
Current Capital Lease Obligation	71,000	74,000	85,000	99,000
Current Debt	4,013,000	1,604,000	6,108,000	5,885,000
Other Current Borrowings	1,284,000	968,000	1,348,000	2,130,000
Commercial Paper	2,729,000	636,000	4,760,000	3,755,000
Pensionand Other Post Retirement Benefit Plans Current				104,000	134,000
Payables And Accrued Expenses	2,386,000	2,350,000	2,323,000	2,097,000
Current Accrued Expenses	1,374,000	1,132,000	1,346,000	474,000
Interest Payable	104,000	117,000	144,000	113,000
Payables	1,012,000	1,218,000	977,000	1,623,000
Other Payable	549,000	500,000	635,000	613,000
Dueto Related Parties Current	24,000	25,000	0
Total Tax Payable	247,000	479,000	232,000	387,000
Income Tax Payable	0	279,000	3,000
Accounts Payable	192,000	214,000	110,000	623,000
Total Assets	33,488,000	33,784,000	54,973,000	63,278,000
Total Non Current Assets	29,000,000	28,598,000	41,317,000	50,460,000
Other Non Current Assets	276,000	441,000	17,436,000	26,577,000
Defined Pension Benefit	159,000	161,000	152,000
Non Current Deferred Assets	1,321,000	1,241,000	1,076,000	973,000
Non Current Accounts Receivable	568,000	606,000	468,000
Financial Assets	283,000	120,000	172,000	330,000
Investments And Advances	3,874,000	4,049,000	195,000	281,000
Investmentin Financial Assets	193,000	191,000	195,000	281,000
Available For Sale Securities	193,000	191,000	195,000	281,000
Long Term Equity Investment	3,681,000	3,858,000	0
Goodwill And Other Intangible Assets	21,597,000	21,104,000	20,909,000	21,339,000
Other Intangible Assets	3,835,000	3,844,000	3,938,000	4,523,000
Goodwill	17,762,000	17,260,000	16,971,000	16,816,000
Net PPE	922,000	876,000	909,000	960,000
Accumulated Depreciation	-1,448,000	-1,437,000	-1,379,000	-1,264,000
Gross PPE	2,370,000	2,313,000	2,288,000	2,224,000
Leases	107,000	98,000	105,000	113,000
Other Properties	231,000	230,000	214,000	251,000
Machinery Furniture Equipment	1,574,000	1,514,000	1,501,000	1,405,000
Buildings And Improvements	429,000	439,000	435,000	422,000
Land And Improvements	29,000	32,000	33,000	33,000
Current Assets	4,488,000	5,186,000	13,656,000	12,818,000
Other Current Assets	959,000	638,000	641,000	509,000
Assets Held For Sale Current	0	1,115,000	10,111,000	8,990,000
Prepaid Assets	368,000	353,000	463,000	439,000
Receivables	2,562,000	2,246,000	2,001,000	2,424,000
Other Receivables	579,000	286,000	263,000	590,000
Duefrom Related Parties Current	39,000	84,000	0
Accounts Receivable	1,944,000	1,876,000	1,738,000	1,834,000
Allowance For Doubtful Accounts Receivable	-24,000	-35,000	-31,000	-31,000
Gross Accounts Receivable	1,968,000	1,911,000	1,769,000	1,865,000
Cash Cash Equivalents And Short Term Investments	599,000	834,000	440,000	456,000
Cash And Cash Equivalents	599,000	834,000	440,000	456,000

Cash Flow

	2025	2024	2023	2022	2021
Free Cash Flow	1,827,000	1,254,000	3,555,000	626,000
Repurchase Of Capital Stock	-1,425,000	-4,045,000	-522,000	-1,938,000
Repayment Of Debt	-54,348,000	-33,175,000	-94,444,000	-74,304,000
Issuance Of Debt	55,428,000	25,430,000	93,087,000	75,293,000
Capital Expenditure	-989,000	-817,000	-780,000	-996,000
Interest Paid Supplemental Data	401,000	396,000	696,000	417,000
Income Tax Paid Supplemental Data	628,000	488,000	402,000	963,000
End Cash Position	599,000	1,946,000	4,414,000	4,813,000
Beginning Cash Position	1,946,000	4,414,000	4,813,000	4,283,000
Effect Of Exchange Rate Changes	58,000	-63,000	110,000	-463,000
Changes In Cash	-1,405,000	-2,405,000	-509,000	993,000
Cash Flow From Discontinued Operation		-208,000	1,674,000	1,670,000
Financing Cash Flow	-1,179,000	-12,615,000	-3,493,000	-2,073,000
Cash From Discontinued Financing Activities	0	-65,000	-241,000
Cash Flow From Continuing Financing Activities	-1,179,000	-12,550,000	-3,252,000	-2,073,000
Net Other Financing Charges	5,000	37,000	-183,000	-43,000
Proceeds From Stock Option Exercised	8,000	3,000	41,000	57,000
Cash Dividends Paid	-847,000	-800,000	-1,231,000	-1,138,000
Common Stock Dividend Paid	-847,000	-800,000	-1,231,000	-1,138,000
Net Common Stock Issuance	-1,425,000	-4,045,000	-522,000	-1,938,000
Common Stock Payments	-1,425,000	-4,045,000	-522,000	-1,938,000
Net Issuance Payments Of Debt	1,080,000	-7,745,000	-1,357,000	989,000
Net Long Term Debt Issuance	1,080,000	-7,745,000	-1,357,000	989,000
Long Term Debt Payments	-54,348,000	-33,175,000	-94,444,000	-74,304,000
Long Term Debt Issuance	55,428,000	25,430,000	93,087,000	75,293,000
Investing Cash Flow	-3,042,000	8,139,000	-1,351,000	-226,000
Cash From Discontinued Investing Activities	0	-39,000	-342,000
Cash Flow From Continuing Investing Activities	-3,042,000	8,178,000	-1,009,000	-226,000
Net Other Investing Changes	-98,000	-91,000	-24,000	-6,000
Interest Received Cfi	-112,000	-122,000	-28,000	0
Dividends Received Cfi	147,000	47,000	0
Net Investment Purchase And Sale	0	-8,000	-20,000	726,000
Sale Of Investment			0	726,000	0
Purchase Of Investment	0	-8,000	-20,000		-24,000
Net Business Purchase And Sale	-1,990,000	9,169,000	-157,000	50,000
Sale Of Business	0	12,833,000	45,000	50,000
Purchase Of Business	-1,990,000	-3,664,000	-202,000	0
Net Intangibles Purchase And Sale	-835,000	-720,000	-665,000	-769,000
Purchase Of Intangibles	-835,000	-720,000	-665,000	-769,000
Net PPE Purchase And Sale	-154,000	-97,000	-115,000	-227,000
Purchase Of PPE	-154,000	-97,000	-115,000	-227,000
Operating Cash Flow	2,816,000	2,071,000	4,335,000	1,622,000
Cash From Discontinued Operating Activities	208,000	-104,000	2,257,000
Cash Flow From Continuing Operating Activities	2,608,000	2,175,000	2,078,000	1,622,000
Change In Working Capital	-510,000	-787,000	-115,000	-726,000
Change In Other Working Capital	-391,000	-476,000	-392,000	-391,000
Change In Payables And Accrued Expense	218,000	72,000	91,000	-16,000
Change In Payable	218,000	72,000	91,000	-16,000
Change In Account Payable	218,000	72,000	91,000	-16,000
Change In Prepaid Assets	-135,000	-205,000	-155,000	-72,000
Change In Receivables	-202,000	-178,000	341,000	-247,000
Changes In Account Receivables	-246,000	-94,000	341,000	-247,000
Other Non Cash Items	37,000	20,000	29,000	31,000
Stock Based Compensation	181,000	186,000	120,000	189,000
Asset Impairment Charge	18,000	52,000	113,000	103,000
Deferred Tax	-31,000	-204,000	-415,000	-388,000
Deferred Income Tax	-31,000	-204,000	-415,000	-388,000
Depreciation Amortization Depletion	1,883,000	1,737,000	1,744,000	1,878,000
Depreciation And Amortization	1,883,000	1,737,000	1,744,000	1,878,000
Operating Gains Losses	645,000	381,000	97,000	-49,000
Earnings Losses From Equity Investments	526,000	145,000	0	0
Gain Loss On Sale Of Business	119,000	62,000	97,000	-49,000
Net Income From Continuing Operations	385,000	790,000	505,000	584,000

These metrics estimate what Fidelity National Information Services, Inc. is worth based on its fundamentals — independent of what the market currently prices it at. Graham's Fair Value and NCAV are conservative floors rooted in 1930s–60s principles. EPV assumes zero growth. None are price targets — they are reference points for judging whether the current price offers a margin of safety.

Graham's Fair Value

$21.02

Margin of Safety

Market Cap ÷ Company Value

1.65

P/B Ratio

1.76

Warren's Owner Earnings

$3.3B

Latest fiscal year

Graham's 7 Criteria

Defensive Investor Checklist

2/7 — Speculative Investor

✅ Adequate Size

$10.7B

vs > $1.5B revenue

❌ Strong Financial Condition

0.59x

vs Current Ratio > 2.0x

❌ Earnings Stability

2 loss years (4 yrs data)

vs No negative EPS years

✅ Dividend Record

3.44%

vs Uninterrupted dividends

❌ Earnings Growth

-72.0% EPS growth

vs > 33% EPS growth

❌ Moderate P/E Ratio

64.8x

vs P/E ≤ 15.0x

❌ Moderate Price-to-Book

1.76x P/B (P/E×P/B: 114.0)

vs P/B ≤ 1.5x | P/E × P/B ≤ 22.5

Net Current Asset Value

$-29.21

Negative NCAV — liabilities exceed current assets. Common in capital-return businesses (buybacks, debt-funded dividends) and capital-intensive industries. Not automatically a warning sign.

"Buy at two-thirds of net current assets." — Graham

Earnings Power Value

$37.81

Per share, no-growth floor. Compare to current price.

Cash Flow Analysis

Metric	2025	2024	2023	2022	2021
Capital Expenditure % of Net Income	258.9%	56.3%	N/A	N/A	N/A
Repurchase of Capital Stock	-$1.4B	-$4.0B	-$522M	-$1.9B	N/A
Free Cash Flow	$1.8B ▲	$1.3B ▼	$3.6B ▲	$626M •	N/A •
Warren's Owner Earnings	$3.3B	$4.0B	-$4.1B	-$13.9B	N/A

Peers & Industry

No auto-detected peers for Information Technology Services. You can manually compare FIS against any stock using the Compare tool.

"The management of a business is its most important single factor — more important than market position, patents, or financial structure."

— Benjamin Graham

Capital Allocation & Alignment

Insider Ownership

0.13%

Low — management has little skin in the game

Return on Equity (ROE)

2.7%

Weak — poor returns on equity

Return on Assets (ROA)

1.1%

Poor — assets are not generating adequate returns

Share Buybacks (Latest Year)

$1.4B

Management is returning capital to shareholders via buybacks

Debt Trend YoY

+15.5% YoY

Debt is growing — management is leveraging up

Leadership Team

Stephanie Ferris

CEO, President & Director

Age 51

Pay: $4,187,045

1.096% of net income

James Kehoe

Corporate Executive VP & CFO

Age 63

Pay: $2,448,000

0.641% of net income

Kim Snider

Senior Vice President of Global Marketing & Communications

Jim Johnson

Co-president of Banking Solutions

Top Institutional Holders

Institution	% Owned	Shares
Vanguard Group Inc	12.15%	62,788,701
Blackrock Inc.	10.51%	54,336,629
Dodge & Cox Inc.	9.50%	49,113,297
JPMORGAN CHASE & CO	9.49%	49,055,129
Capital Research Global Investors	5.44%	28,129,710
State Street Corporation	4.79%	24,749,140
Geode Capital Management, LLC	2.59%	13,385,712
Charles Schwab Investment Management, Inc.	2.17%	11,196,718

⚠️ Current ratio below 1 — liquidity risk

Risk Analysis

Beta (Market Risk)

0.83

Low volatility — more stable than the market

Short Interest

3.2% of float

Low short interest — market is not heavily bearish

Debt-to-Equity

0.96x

Conservative balance sheet — low financial risk

Current Ratio