Fidelity National Information Services, Inc. (FIS) intrinsic value & 10-year financials
Fidelity National Information Services, Inc. (FIS) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue grew 2.1% a year to $10.7B, with an average return on invested capital of 0.3%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $36.01
- Market cap
- $18.9B
- Revenue (FY2025)
- $10.7B
- Revenue growth (10-yr CAGR)
- 2.1%
- ROIC (10-yr avg)
- 0.3%
- Free cash flow (FY2025)
- $2.5B
FIS 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $10.7B | $382.0M | $0.73 | $2.5B | 16.3% | 4.4% |
| FY2024 | $10.1B | $1.4B | $2.61 | $2.1B | 16.9% | 4.9% |
| FY2023 | $9.8B | -$6.7B | -$11.26 | $4.2B | 14.9% | 4.1% |
| FY2022 | $14.5B | -$16.7B | -$27.68 | $3.7B | -111.0% | -32.4% |
| FY2021 | $13.9B | $417.0M | $0.67 | $4.5B | 7.6% | 0.9% |
| FY2020 | $12.6B | $158.0M | $0.25 | $4.2B | 4.4% | 0.5% |
| FY2019 | $10.3B | $298.0M | $0.66 | $2.2B | 9.4% | 1.7% |
| FY2018 | $8.4B | $846.0M | $2.55 | $1.9B | 17.3% | 6.5% |
| FY2017 | $8.7B | $1.3B | $3.93 | $1.6B | 17.2% | 8.0% |
| FY2016 | $8.8B | $568.0M | $1.72 | $1.8B | 14.7% | 4.3% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Fidelity National Information Services has demonstrated mature, steady growth, with revenue compounding at 2.1% annually over the past decade.
Fidelity National Information Services has historically struggled to out-earn its cost of capital, averaging just 0.3% ROIC.
Fidelity National Information Services has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Fidelity National Information Services is modeled at -9.1% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-6.08 per share.