Fidelity National Info (FIS) AI Stock Analysis

• Market Cap: $25.34B
• Dividend Yield: 2.4%
• Average Volume (3M): 5.90M
• Price to Earnings (P/E): 89.9
• Beta (1Y): 0.44
• Revenue Growth: 4.26%
• EPS Growth: -75.98%
• Country: US
• Employees: 50,000
• Sector: Technology
• Sector Strength: 88
• Industry: Information Technology Services
• EPS (TTM): 1.68
• Shares Outstanding: 514,403,700
• 10 Day Avg. Volume: 5,852,491
• 30 Day Avg. Volume: 5,903,312
• PEG Ratio: -1.88
• Price to Book (P/B): 2.47
• Price to Sales (P/S): 3.22
• P/FCF Ratio: 12.23
• Enterprise Value/Market Cap: 1.15
• Enterprise Value/Revenue: 2.68
• Enterprise Value/Gross Profit: 7.02
• Enterprise Value/Ebitda: 8.12
• 1Y Price Target: $67.00
• Price Target Upside: 36.01% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 18
• EPS Forecast (FY): 6.27
• Revenue Forecast (FY): $13.20B

• Rating: 61 Neutral
• Price Target: $53.00 ▲(7.59% Upside)
• Action: Reiterated Date: 03/11/26
• Date: Action: Reiterated 03/11/26

The score is driven primarily by strong cash generation and a significantly improved balance sheet, supported by upbeat 2026 guidance and free-cash-flow targets. These positives are tempered by weak technical trend signals and a very high P/E, while recent corporate actions are modestly supportive but add some financing complexity.

Positive Factors

Cash Generation

Sustained high operating and free cash flow provides durable internal funding for capex, R&D, dividends and debt reduction. Management’s multi-year plan to double FCF to >$3B by 2028 signals structural cash conversion strength that underpins strategic flexibility and resilience across business cycles.

Stronger Balance Sheet

Rapid deleveraging materially improved financial flexibility and lowered interest exposure. A leaner capital structure with sizeable equity supports investment, M&A optionality and ability to absorb integration costs, reducing refinancing risk and improving long-term stability of cash returns.

Recurring Revenue & Data/AI Moat

A high recurring revenue mix plus unique scale in accounts and transactions supports predictable cashflows and cross-sell. The TSYS issuer acquisition and heavier data/AI investment deepen competitive moats in issuing, fraud and analytics, enabling durable margin and share gains in issuer processing.

Negative Factors

Profitability Volatility

Choppy revenue and swings in profitability indicate earnings are not yet fully stable. Variability between years complicates forecasting and raises execution risk for margin targets, making it harder to rely on steady earnings-driven cash returns over the next several quarters.

Large Debt Issuance/Financing Complexity

A sizeable March 2026 notes issuance materially alters funding mix and adds execution and interest-cost considerations. While it diversifies creditors and extends maturities, it increases near-term debt load and refinancing complexity that could constrain capital allocation until integration synergies materialize.

M&A & Integration Timing Risk

Growth outlook relies partly on acquisition contributions and synergies whose realization timing is uncertain. Integration costs, TSA impacts and reclassifications create near-term dilution and operational distractions that may delay margin improvement and cash conversion sustainability.

Fidelity National Info Business Overview & Revenue Model

Company Description

Fidelity National Information Services, Inc. provides technology solutions for merchants, banks, and capital markets firms worldwide. It operates through Merchant Solutions, Banking Solutions, and Capital Market Solutions segments. The Merchant Solutions segment offers enterprise acquiring, software-led small- to medium-sized businesses acquiring, and global e-commerce solutions. The Banking Solutions segment provides core processing and ancillary applications; digital solutions, including Internet, mobile, and e-banking; fraud, risk management, and compliance solutions; electronic funds transfer and network services; card and retail payment solutions; wealth and retirement solutions; and item processing and output services. The Capital Market Solutions segment offers securities processing and finance, global trading, asset management and insurance, and corporate liquidity solutions. Fidelity National Information Services, Inc. was founded in 1968 and is headquartered in Jacksonville, Florida.

How the Company Makes Money

FIS primarily makes money by selling and operating technology platforms and processing services for financial institutions and other businesses, earning revenue through a mix of recurring software/technology fees, transaction-based processing fees, professional services, and maintenance/support. A major component of its model is providing core banking and digital banking capabilities (e.g., account processing and channel functionality) where clients pay recurring fees for access to software and ongoing operations, often under multi-year contracts. FIS also earns transaction-driven revenue from payments-related services, such as enabling payment card issuing/processing, debit network and related services, and other payment processing functions where fees scale with customer activity (e.g., number of accounts, cards, authorizations, transactions, or volumes processed). In capital markets, FIS generates revenue by licensing and supporting specialized software and by providing managed services and processing for functions such as securities processing, risk/portfolio and treasury-related workflows, and other back-office operations; these revenues typically combine recurring subscriptions/licensing with implementation and ongoing services. Across segments, additional revenue comes from implementation, integration, consulting, and other professional services associated with deploying platforms, plus ongoing client support. Key factors supporting earnings include high switching costs and regulatory/operational complexity in financial services (which tend to favor long-term, recurring relationships), scale benefits from processing large transaction volumes, and ecosystem connectivity with payment networks, financial institutions, and other industry participants (specific partnership terms vary by product and are not uniformly disclosed).

Fidelity National Info Financial Statement Overview

Summary

Cash flow is a major strength (strong operating cash flow and consistently high, improving free cash flow), and the balance sheet has de-risked materially via rapid debt reduction. Offsetting this, the income statement is volatile, with a notable profitability step-down in 2025 after a stronger 2024, raising questions about earnings durability.

Income Statement

Revenue has been relatively stable but choppy, with a decline in 2025 (-4.7%) following modest growth in 2024 (~3.0%). Profitability is inconsistent: gross margin has held near ~36–38%, but bottom-line performance swung from very large losses in 2022–2023 to solid profitability in 2024 and a much lower profit level in 2025 (net margin ~3.6%). Operating profitability also shows volatility, with 2025 showing notably weaker operating earnings versus 2024, which raises questions on earnings durability.

Balance Sheet

Leverage improved meaningfully: total debt fell from ~$19–20B (2022–2023) to ~$11.5B (2024) and ~$4.0B (2025), driving debt-to-equity down to ~0.29 in 2025 (from ~0.74 in 2024 and ~1.02 in 2023). Equity remains sizable (~$14.0B in 2025), supporting balance-sheet flexibility. The main offset is profitability/returns volatility, with return on equity swinging from deeply negative in 2022–2023 to positive in 2024 and lower but still positive in 2025.

Cash Flow

Cash generation is a clear strength: operating cash flow remained strong across years (about $2.1B in 2024 and $2.6B in 2025), and free cash flow is consistently high (about $2.0B in 2024 and $2.45B in 2025). Free cash flow growth accelerated sharply in 2025, and free cash flow tracks reported earnings closely (free cash flow to net income ~0.94–0.97 in 2023–2025), indicating good earnings quality. A watch item is that cash flow as a share of revenue is solid, but reported earnings volatility in prior years makes consistency the key risk.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	10.68B	10.13B	9.83B	9.72B	13.88B
Gross Profit	3.94B	3.80B	3.66B	3.50B	5.20B
EBITDA	2.90B	3.38B	2.90B	2.88B	5.02B
Net Income	382.00M	1.45B	-6.66B	-16.72B	417.00M
Balance Sheet
Total Assets	33.49B	33.78B	54.97B	63.28B	82.93B
Cash, Cash Equivalents and Short-Term Investments	599.00M	834.00M	440.00M	456.00M	2.01B
Total Debt	4.01B	11.54B	19.34B	20.41B	20.88B
Total Liabilities	19.59B	18.08B	35.92B	35.87B	35.40B
Stockholders Equity	13.90B	15.70B	19.05B	27.22B	47.35B
Cash Flow
Free Cash Flow	2.81B	1.97B	4.22B	3.67B	3.56B
Operating Cash Flow	2.96B	2.07B	4.33B	3.94B	4.81B
Investing Cash Flow	-3.19B	8.14B	-1.52B	-373.00M	-1.77B
Financing Cash Flow	-1.18B	-12.62B	-3.32B	-2.57B	-2.54B

Fidelity National Info Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 49.26
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FIS, the sentiment is Negative. The current price of 49.26 is above the 20-day moving average (MA) of 49.07, below the 50-day MA of 55.16, and below the 200-day MA of 66.28, indicating a neutral trend. The MACD of -1.04 indicates Negative momentum. The RSI at 40.45 is Neutral, neither overbought nor oversold. The STOCH value of 42.60 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FIS.

Fidelity National Info Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
JKHY	77 Outperform	$12.00B	26.50	23.75%	1.25%	7.75%	20.42%
BR	72 Outperform	$20.71B	22.90	41.06%	1.63%	8.57%	35.02%
ACIW	71 Outperform	$4.11B	21.93	15.43%	―	7.01%	17.48%
FISV	68 Neutral	$29.98B	10.60	13.64%	―	5.16%	24.92%
GPN	62 Neutral	$19.69B	13.26	6.20%	1.25%	-11.30%	34.28%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
FIS	61 Neutral	$25.34B	89.95	2.68%	2.40%	4.26%	-75.98%

Fidelity National Info Corporate Events

Fidelity National Info Raises $6.8 Billion in Notes

On March 10, 2026, Fidelity National Information Services, Inc. completed a major U.S. dollar senior notes offering totaling $6.8 billion across fixed and floating rate tranches maturing between 2028 and 2031. The issuance, sold under an existing shelf registration and supported by a syndicate of leading banks, enhances FIS’s long-term funding profile and provides substantial capital for corporate purposes.

Also on March 10, 2026, FIS closed a €1.0 billion Euro-denominated senior notes offering split between floating rate notes due 2028 and fixed rate notes due 2030. By tapping both U.S. and European debt markets in parallel, the company diversified its funding sources and optimized its capital structure, which may strengthen its financial flexibility and appeal to a broader base of fixed-income investors.

The most recent analyst rating on (FIS) stock is a Hold with a $53.00 price target. To see the full list of analyst forecasts on Fidelity National Info stock, see the FIS Stock Forecast page.

Fidelity National Information Services Prices Multicurrency Senior Notes

On March 4, 2026, Fidelity National Information Services entered into an underwriting agreement with a syndicate of major investment banks for the issuance of $6.8 billion of U.S. dollar-denominated senior notes with maturities ranging from 2028 to 2031, including fixed-rate and floating-rate tranches. The notes, issued under an existing shelf registration and expected to close on March 10, 2026 subject to customary conditions, are set to provide substantial long-term funding that can support the company’s capital needs and balance sheet management.

On March 5, 2026, the company also signed a separate underwriting agreement for €1 billion of euro-denominated senior notes, split between floating-rate notes due 2028 and fixed-rate notes due 2030. This parallel euro issuance, also expected to close on March 10, 2026, broadens FIS’s funding base across currencies and further strengthens its financial flexibility in international debt markets.

The most recent analyst rating on (FIS) stock is a Hold with a $57.00 price target. To see the full list of analyst forecasts on Fidelity National Info stock, see the FIS Stock Forecast page.

Fidelity National Info Adds AI-Focused Independent Director

On January 19, 2026, Fidelity National Information Services’ board expanded from nine to ten members and elected Anil Srinivasa Chakravarthy as an independent director, effective January 20, 2026, with his initial term running until the 2026 annual shareholders’ meeting; he will receive standard non-employee director compensation on a prorated basis and will serve on the Audit Committee and the Risk and Technology Committee. The appointment adds a seasoned enterprise software and AI-focused technology leader—currently a senior executive at Adobe and former CEO of Informatica—to the board, strengthening FIS’s oversight and strategic capabilities in cloud transformation, SaaS, data management and AI-powered financial technology as it pursues its innovation and growth agenda.

The most recent analyst rating on (FIS) stock is a Hold with a $69.00 price target. To see the full list of analyst forecasts on Fidelity National Info stock, see the FIS Stock Forecast page.

FIS Completes Issuer Solutions Acquisition and Worldpay Divestiture

On January 9, 2026, FIS completed the acquisition of Global Payments’ Issuer Solutions business, formerly TSYS, and simultaneously sold its remaining 45% minority stake in merchant acquirer Worldpay to Global Payments, transactions originally agreed in April 2025. The Issuer Solutions unit, valued at $13.5 billion on an enterprise basis, was acquired in exchange for FIS’s Worldpay interest plus about $7.7 billion in cash, while Worldpay was valued at $24.25 billion, with customary post-closing price adjustments applying to both assets. The deal, formally announced via press release on January 12, 2026, transforms FIS into a scaled fintech leader in issuer processing, consolidating what it describes as the world’s largest issuing business under the new FIS Total Issuing Solutions brand, processing more than 40 billion transactions annually for over 150 financial institutions and corporates in more than 75 countries. By replacing a non-cash-generating minority equity stake with high-margin recurring revenue, a broader suite in credit processing, fraud, loyalty and value-added services, and a far larger addressable issuer market of roughly $28 billion, FIS expects the transaction to strengthen its financial profile, create robust revenue and cost synergies and add an estimated $500 million in incremental adjusted free cash flow in 2026, rising to $700 million by 2028.

The most recent analyst rating on (FIS) stock is a Buy with a $90.00 price target. To see the full list of analyst forecasts on Fidelity National Info stock, see the FIS Stock Forecast page.