Fidelity National Financial, Inc. (FNF) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$1.32	$1.39	+5.3%	—	$4B	—
Q1 26	$1.09	$0.93	-14.7%	—	$3.1B	—
Q4 25	$1.5	$1.41	-6.0%	—	$4B	—
Q3 25	$1.42	$1.63	+14.8%	—	$3.9B	—
Q2 25	$1.41	$1.16	-17.7%	—	$3.6B	—
Q1 25	$1.11	$0.78	-29.7%	—	$2.7B	—
Q4 24	$1.21	$1.34	+10.7%	—	$3.5B	—
Q3 24	$1.42	$1.3	-8.5%	—	$3.5B	—
Q2 24	$1.31	$1.24	-5.3%	—	$3.1B	—
Q1 24	$0.85	$0.76	-10.6%	—	$3.2B	—
Q4 23	$1	$0.75	-25.0%	—	$3.4B	—
Q3 23	$1.15	$1.23	+7.0%	—	$2.7B	—
Q2 23	$1.01	$1.01	0.0%	—	$3B	—
Q1 23	$0.81	$0.52	-35.8%	—	$2.4B	—
Q4 22	$1.17	$1.06	-9.4%	—	$2.6B	—
Q3 22	$1.42	$1.07	-24.6%	—	$3.3B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$2.22	—	—	$14.1B	—
FY24	—	$4.69	—	—	$13.4B	—
FY23	—	$1.91	—	—	$11.5B	—
FY22	—	$4.13	—	—	$11.5B	—
FY21	—	$8.5	—	—	$15.1B	—
FY20	—	$5.02	—	—	$10.7B	—
FY19	—	$3.89	—	—	$8.5B	—
FY18	—	$2.3	—	—	$7.6B	—
FY17	—	$2.44	—	—	$7.7B	—
FY16	—	$1.92	—	—	$7.3B	—

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$7.3B	$7.7B	$7.6B	$8.5B	$10.7B	$15.1B	$11.5B	$11.5B	$13.4B	$14.1B
YoY change	+8.9%	+5.59%	-0.9%	+11.5%	+26.4%	+40.8%	-24%	+0.58%	+15.9%	+5.88%

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$2.7B	$3.4B	$3.2B	$3.1B	$3.5B	$3.5B	$2.7B	$3.6B	$3.9B	$4B	$3.1B	$4B
YoY change	-16.9%	+31.8%	+34.3%	+1.22%	+29.9%	+4.66%	-17.6%	+16.8%	+11.9%	+12%	+16.9%	+11%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	7.3B	7.7B	7.6B	8.5B	10.7B	15.1B	11.5B	11.5B	13.4B	14.1B
Cost of revenue	—	—	—	—	—	—	—	—	—	—
Gross profit	—	—	—	—	—	—	—	—	—	—
Gross margin	—	—	—	—	—	—	—	—	—	—
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	2.3B	2.5B	2.5B	2.7B	3B	3.5B	3.2B	2.9B	3.1B	3.4B
Operating expenses	3.9B	4.2B	4.3B	4.4B	4.7B	5.5B	4.9B	4.4B	4.7B	5.1B
Operating income	—	—	—	—	—	—	—	—	—	—
Operating margin	—	—	—	—	—	—	—	—	—	—
Non-operating income, net	1.2B	—	—	—	—	—	—	—	—	—
Pretax income	955M	864M	750M	1.4B	1.8B	3.6B	1.7B	693M	1.7B	1.4B
Income tax	347M	235M	120M	308M	322M	813M	439M	192M	367M	753M
Net income	692M	794M	635M	1.1B	1.5B	2.8B	1.3B	518M	1.4B	679M
Net margin	9.54%	10.4%	8.36%	12.7%	13.6%	18.7%	11.4%	4.5%	10.4%	4.8%
EBITDA	—	—	—	—	—	—	—	—	—	—
EPS	1.92	2.44	2.3	3.89	5.02	8.5	4.13	1.91	4.69	2.22
Diluted EPS	1.92	2.38	2.26	3.83	4.99	8.44	4.1	1.91	4.65	2.21

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	2.7B	3.4B	3.2B	3.1B	3.5B	3.5B	2.7B	3.6B	3.9B	4B	3.1B	4B
Cost of revenue	—	—	—	—	—	—	—	—	—	—	—	—
Gross profit	—	—	—	—	—	—	—	—	—	—	—	—
Gross margin	—	—	—	—	—	—	—	—	—	—	—	—
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	734M	742M	727M	779M	810M	832M	770M	867M	899M	901M	827M	965M
Operating expenses	1.1B	1.1B	1.1B	1.2B	1.2B	1.2B	1.1B	1.3B	1.3B	1.3B	1.2B	1.4B
Operating income	—	—	—	—	—	—	—	—	—	—	—	—
Operating margin	—	—	—	—	—	—	—	—	—	—	—	—
Non-operating income, net	—	—	—	—	—	—	—	—	—	—	—	—
Pretax income	603M	-168M	331M	458M	313M	640M	111M	382M	453M	451M	498M	338M
Income tax	141M	-53M	63M	116M	44M	144M	29M	98M	90M	536M	175M	63M
Net income	477M	-114M	269M	343M	271M	508M	83M	293M	389M	-86M	321M	276M
Net margin	17.6%	-3.38%	8.29%	11.2%	7.7%	14.4%	3.1%	8.2%	9.88%	-2.18%	10.3%	6.96%
EBITDA	—	—	—	—	—	—	—	—	—	—	—	—
EPS	1.58	-0.25	0.92	1.13	0.98	1.65	0.3	1.02	1.33	-0.43	0.9	1.08
Diluted EPS	1.57	-0.25	0.91	1.12	0.97	1.65	0.3	1.02	1.33	-0.43	0.9	1.08

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	3.9B	3.2B	3.3B	4B	30.8B	36.4B	21.2B	26.6B	31B	31.7B
Receivables	322M	317M	306M	346M	3.6B	4.3B	5.9B	9.4B	13.9B	18B
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	—	—	—	—	—	—	—	—	—	—
Property, plant & equipment	—	—	—	—	—	—	—	—	—	—
Goodwill & intangibles	7.1B	7.5B	7.3B	7.1B	14.3B	15B	17.7B	19.8B	23.3B	24.7B
Total assets	—	—	—	—	—	—	—	—	95.4B	109B
Accounts payable	42M	39M	35M	44M	115M	129M	156M	339M	191M	246M
Short-term debt	—	—	—	—	—	—	—	—	—	—
Total current liabilities	—	—	—	—	—	—	—	—	—	—
Long-term debt	987M	759M	836M	1.3B	3.1B	3.5B	3.7B	4.3B	4.7B	4.8B
Total liabilities	—	—	—	—	—	—	—	—	86.8B	100B
Shareholders' equity	6.9B	4.5B	4.6B	5.4B	8.4B	9.5B	6.6B	7.5B	8.5B	9B
Total debt	987M	759M	836M	1.3B	3.1B	3.5B	3.7B	4.3B	4.7B	4.8B
Net debt	-62M	-351M	-9M	288M	627M	-370M	1.6B	1.8B	1.3B	2.4B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	23.9B	26.6B	27B	29.2B	31.1B	31B	30.6B	31.8B	32.4B	31.7B	30.9B	31.3B
Receivables	7.9B	9.4B	10.5B	11.5B	12.9B	13.9B	15.2B	16.3B	17.3B	18B	20.5B	21.4B
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	—	—	—	—	—	—	—	—	—	—	—	—
Property, plant & equipment	—	—	—	—	—	—	—	—	—	—	—	—
Goodwill & intangibles	19.4B	19.8B	21.1B	21.8B	22.9B	23.3B	23.6B	24B	24.3B	24.7B	24.8B	25.1B
Total assets	—	—	84.5B	88.8B	94.7B	95.4B	98.2B	102.3B	106.6B	109B	111.5B	114.5B
Accounts payable	2.4B	339M	3.1B	3.4B	4.4B	191M	3.3B	3.7B	3.8B	246M	3.3B	3.9B
Short-term debt	—	—	—	—	—	—	—	-3M	-3M	—	—	—
Total current liabilities	—	—	—	—	—	—	—	—	—	—	—	—
Long-term debt	4.1B	4.3B	4.3B	4.6B	4.6B	4.7B	4.8B	4.8B	4.8B	4.8B	4.8B	4.7B
Total liabilities	—	—	76.7B	80.8B	85.8B	86.8B	89.4B	93.5B	97.3B	100B	102.8B	105.7B
Shareholders' equity	6.6B	7.5B	7.8B	8B	8.9B	8.5B	8.8B	8.8B	9.3B	9B	8.7B	8.8B
Total debt	4.1B	4.3B	4.3B	4.6B	4.6B	4.7B	4.8B	4.8B	4.8B	4.8B	4.8B	4.7B
Net debt	1.3B	1.8B	984M	7M	-690M	1.3B	441M	1.9B	1.5B	2.4B	2.6B	1.7B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	692M	794M	635M	1.1B	1.5B	2.8B	1.3B	518M	1.4B	679M
Depreciation & amortization	—	—	—	—	—	—	—	—	—	—
Stock-based compensation	58M	44M	31M	38M	39M	42M	49M	60M	82M	88M
Change in working capital	-16M	-144M	-13M	138M	-104M	278M	-263M	449M	-267M	378M
Operating cash flow	734M	694M	653M	1.3B	1.3B	2.9B	677M	850M	875M	5.8B
Capital expenditure	-284M	-145M	-62M	-92M	-110M	-131M	-138M	-132M	-146M	—
Investing cash flow	-330M	-25M	-427M	-566M	-2.6B	-7.9B	-10.9B	-9.5B	-8.5B	-9.5B
Dividends paid	-239M	-278M	-328M	-344M	-389M	-446M	-489M	-500M	-532M	-546M
Share repurchases	-276M	-70M	-20M	-86M	-236M	-463M	-553M	-24M	0	-251M
Financing cash flow	-447M	-1.1B	-461M	-521M	2B	5B	4.1B	3.1B	1.7B	2.3B
Net change in cash	-43M	-391M	-235M	163M	747M	-97M	-6.1B	-5.6B	-5.9B	-1.4B
Free cash flow	872M	588M	860M	1B	1.5B	4B	4.2B	6.3B	6.7B	5.7B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	477M	-114M	269M	343M	271M	508M	83M	293M	389M	-86M	321M	276M
Depreciation & amortization	—	—	—	—	—	—	—	—	—	—	—	—
Stock-based compensation	15M	17M	16M	17M	15M	34M	21M	20M	23M	24M	23M	23M
Change in working capital	-46M	384M	-92M	246M	532M	-581M	18M	-109M	40M	429M	-4M	-89M
Operating cash flow	329M	327M	111M	550M	814M	-228M	150M	1.9B	1.3B	1.5B	875M	1.9B
Capital expenditure	-32M	-31M	-35M	-41M	-40M	-30M	-37M	—	—	—	—	—
Investing cash flow	-1.6B	-3.5B	-1.1B	-2B	-2.1B	-3.2B	-866M	-3.5B	-2.2B	-2.9B	-1B	-156M
Dividends paid	-123M	-134M	-130M	-131M	-130M	-141M	-136M	-135M	-135M	-140M	-140M	-138M
Share repurchases	-2M	0	0	0	0	0	-24M	-154M	-43M	-30M	-78M	-60M
Financing cash flow	526M	610M	254M	1.9B	-308M	-144M	671M	375M	965M	244M	-99M	-785M
Net change in cash	-789M	-2.5B	-767M	463M	-1.6B	-3.6B	-45M	-1.3B	106M	-1.2B	-264M	930M
Free cash flow	1B	2.2B	1.6B	1.3B	2.3B	1.5B	1.1B	1.9B	1.3B	1.5B	848M	1.8B

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	7.7B	—	8B	11.5B	10.3B	13.8B	10B	13.3B	14.7B	14.8B	11B
Enterprise value	4.8B	—	5.5B	8.8B	-17.4B	-19.1B	-7.6B	-9B	-11.7B	-12.1B	13.2B
Shares outstanding	338.8M	271M	273M	273M	284M	285M	275M	270M	271M	271M	271M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	11.1	—	12.5	10.7	7.09	4.89	7.64	25.6	10.5	21.8	14.4
P/S	1.06	—	1.05	1.36	0.96	0.92	0.87	1.15	1.1	1.05	0.72
P/B	1.12	—	1.72	2.14	1.23	1.46	1.52	1.78	1.72	1.65	1.48
EV/EBITDA	—	—	—	—	—	—	—	—	—	—	5.49
EV/Sales	0.65	—	0.72	1.04	-1.63	-1.27	-0.66	-0.78	-0.87	-0.86	0.86
Earnings yield	8.98%	—	7.98%	9.37%	14.1%	20.4%	13.1%	3.9%	9.48%	4.59%	6.96%
FCF yield	11.3%	—	10.8%	8.93%	14.3%	28.7%	42.3%	47.8%	45.5%	38.4%	32.6%
PEG	—	—	—	—	—	—	—	—	—	—	2.44

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Operating margin	—	—	—	—	—	—	—	—	—	—	10.7%
Net margin	9.54%	10.4%	8.36%	12.7%	13.6%	18.7%	11.4%	4.5%	10.4%	4.8%	5.03%
ROE	10%	17.8%	13.7%	20.1%	17.3%	29.8%	19.9%	6.94%	16.3%	7.57%	10.2%
ROA	—	—	—	—	—	—	—	—	1.46%	0.62%	1.23%
Return on tangible assets	—	—	—	—	—	—	—	—	1.93%	0.81%	1.01%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	—	—	—	—	—	—	—	—	—	—	0.94
Debt / equity	0.14	0.17	0.18	0.24	0.37	0.37	0.56	0.57	0.55	0.53	0.54
Debt / assets	—	—	—	—	—	—	—	—	0.05	0.04	0.04
Net debt / EBITDA	—	—	—	—	—	—	—	—	—	—	0.32
Interest coverage	15.9	19	18.4	30.1	20.8	32.2	16	4.98	9.33	6.77	8.16
Effective tax rate	36.3%	27.2%	16%	22.5%	18%	22.8%	25.4%	27.7%	21.1%	53.9%	49.7%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	21.4	28.3	27.8	31	37.7	52.9	41.7	42.7	49.3	52.2	57.1
EPS (basic)	1.92	2.44	2.3	3.89	5.02	8.5	4.13	1.91	4.69	2.22	2.22
EPS (diluted)	1.92	2.38	2.26	3.83	4.99	8.44	4.1	1.91	4.65	2.21	2.87
Book value per share	20.4	16.5	17	19.7	29.5	33.2	23.9	27.6	31.5	33.1	27.8
FCF per share	2.57	2.17	3.15	3.75	5.17	13.9	15.3	23.5	24.6	21	20.3
Cash per share	11.6	11.9	12.2	14.5	108.5	127.6	77.3	98.4	114.6	117	15
Capex per share	0.84	0.54	0.23	0.34	0.39	0.46	0.5	0.49	0.54	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	3.91%	1.89%	0.82%	1.09%	1.03%	0.87%	1.2%	1.15%	1.09%	—	—
Capex / operating cash flow	38.7%	20.9%	9.49%	7.36%	8.56%	4.53%	20.4%	15.5%	16.7%	—	—
Payout ratio	34.5%	35%	51.7%	32%	26.8%	15.8%	37.4%	96.5%	38.2%	80.4%	71.8%
Dividend yield	3.1%	—	4.12%	3%	3.78%	3.23%	4.9%	3.76%	3.63%	3.69%	5.06%

Yield

5.06%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.52

ex-dividend Sep 16, 2026

Payout ratio

72%

of earnings

Dividend growth

11 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 16, 2026	$0.52
Jun 16, 2026	$0.52
Mar 17, 2026	$0.52
Dec 17, 2025	$0.5014
Sep 16, 2025	$0.50
Jun 16, 2025	$0.50
Mar 17, 2025	$0.50
Dec 17, 2024	$0.50

Split history

Date	Ratio
Dec 17, 2025	1037:1000
Dec 1, 2022	104:100
Oct 2, 2017	1385:1000
Jul 1, 2014	1216:1000

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$1.32	$1.39	+5.3%	—	$4B	—
Q1 26	$1.09	$0.93	-14.7%	—	$3.1B	—
Q4 25	$1.5	$1.41	-6.0%	—	$4B	—
Q3 25	$1.42	$1.63	+14.8%	—	$3.9B	—
Q2 25	$1.41	$1.16	-17.7%	—	$3.6B	—
Q1 25	$1.11	$0.78	-29.7%	—	$2.7B	—
Q4 24	$1.21	$1.34	+10.7%	—	$3.5B	—
Q3 24	$1.42	$1.3	-8.5%	—	$3.5B	—
Q2 24	$1.31	$1.24	-5.3%	—	$3.1B	—
Q1 24	$0.85	$0.76	-10.6%	—	$3.2B	—
Q4 23	$1	$0.75	-25.0%	—	$3.4B	—
Q3 23	$1.15	$1.23	+7.0%	—	$2.7B	—
Q2 23	$1.01	$1.01	0.0%	—	$3B	—
Q1 23	$0.81	$0.52	-35.8%	—	$2.4B	—
Q4 22	$1.17	$1.06	-9.4%	—	$2.6B	—
Q3 22	$1.42	$1.07	-24.6%	—	$3.3B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$2.22	—	—	$14.1B	—
FY24	—	$4.69	—	—	$13.4B	—
FY23	—	$1.91	—	—	$11.5B	—
FY22	—	$4.13	—	—	$11.5B	—
FY21	—	$8.5	—	—	$15.1B	—
FY20	—	$5.02	—	—	$10.7B	—
FY19	—	$3.89	—	—	$8.5B	—
FY18	—	$2.3	—	—	$7.6B	—
FY17	—	$2.44	—	—	$7.7B	—
FY16	—	$1.92	—	—	$7.3B	—

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$7.3B	$7.7B	$7.6B	$8.5B	$10.7B	$15.1B	$11.5B	$11.5B	$13.4B	$14.1B
YoY change	+8.9%	+5.59%	-0.9%	+11.5%	+26.4%	+40.8%	-24%	+0.58%	+15.9%	+5.88%

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$2.7B	$3.4B	$3.2B	$3.1B	$3.5B	$3.5B	$2.7B	$3.6B	$3.9B	$4B	$3.1B	$4B
YoY change	-16.9%	+31.8%	+34.3%	+1.22%	+29.9%	+4.66%	-17.6%	+16.8%	+11.9%	+12%	+16.9%	+11%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	7.3B	7.7B	7.6B	8.5B	10.7B	15.1B	11.5B	11.5B	13.4B	14.1B
Cost of revenue	—	—	—	—	—	—	—	—	—	—
Gross profit	—	—	—	—	—	—	—	—	—	—
Gross margin	—	—	—	—	—	—	—	—	—	—
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	2.3B	2.5B	2.5B	2.7B	3B	3.5B	3.2B	2.9B	3.1B	3.4B
Operating expenses	3.9B	4.2B	4.3B	4.4B	4.7B	5.5B	4.9B	4.4B	4.7B	5.1B
Operating income	—	—	—	—	—	—	—	—	—	—
Operating margin	—	—	—	—	—	—	—	—	—	—
Non-operating income, net	1.2B	—	—	—	—	—	—	—	—	—
Pretax income	955M	864M	750M	1.4B	1.8B	3.6B	1.7B	693M	1.7B	1.4B
Income tax	347M	235M	120M	308M	322M	813M	439M	192M	367M	753M
Net income	692M	794M	635M	1.1B	1.5B	2.8B	1.3B	518M	1.4B	679M
Net margin	9.54%	10.4%	8.36%	12.7%	13.6%	18.7%	11.4%	4.5%	10.4%	4.8%
EBITDA	—	—	—	—	—	—	—	—	—	—
EPS	1.92	2.44	2.3	3.89	5.02	8.5	4.13	1.91	4.69	2.22
Diluted EPS	1.92	2.38	2.26	3.83	4.99	8.44	4.1	1.91	4.65	2.21

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	2.7B	3.4B	3.2B	3.1B	3.5B	3.5B	2.7B	3.6B	3.9B	4B	3.1B	4B
Cost of revenue	—	—	—	—	—	—	—	—	—	—	—	—
Gross profit	—	—	—	—	—	—	—	—	—	—	—	—
Gross margin	—	—	—	—	—	—	—	—	—	—	—	—
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	734M	742M	727M	779M	810M	832M	770M	867M	899M	901M	827M	965M
Operating expenses	1.1B	1.1B	1.1B	1.2B	1.2B	1.2B	1.1B	1.3B	1.3B	1.3B	1.2B	1.4B
Operating income	—	—	—	—	—	—	—	—	—	—	—	—
Operating margin	—	—	—	—	—	—	—	—	—	—	—	—
Non-operating income, net	—	—	—	—	—	—	—	—	—	—	—	—
Pretax income	603M	-168M	331M	458M	313M	640M	111M	382M	453M	451M	498M	338M
Income tax	141M	-53M	63M	116M	44M	144M	29M	98M	90M	536M	175M	63M
Net income	477M	-114M	269M	343M	271M	508M	83M	293M	389M	-86M	321M	276M
Net margin	17.6%	-3.38%	8.29%	11.2%	7.7%	14.4%	3.1%	8.2%	9.88%	-2.18%	10.3%	6.96%
EBITDA	—	—	—	—	—	—	—	—	—	—	—	—
EPS	1.58	-0.25	0.92	1.13	0.98	1.65	0.3	1.02	1.33	-0.43	0.9	1.08
Diluted EPS	1.57	-0.25	0.91	1.12	0.97	1.65	0.3	1.02	1.33	-0.43	0.9	1.08

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	3.9B	3.2B	3.3B	4B	30.8B	36.4B	21.2B	26.6B	31B	31.7B
Receivables	322M	317M	306M	346M	3.6B	4.3B	5.9B	9.4B	13.9B	18B
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	—	—	—	—	—	—	—	—	—	—
Property, plant & equipment	—	—	—	—	—	—	—	—	—	—
Goodwill & intangibles	7.1B	7.5B	7.3B	7.1B	14.3B	15B	17.7B	19.8B	23.3B	24.7B
Total assets	—	—	—	—	—	—	—	—	95.4B	109B
Accounts payable	42M	39M	35M	44M	115M	129M	156M	339M	191M	246M
Short-term debt	—	—	—	—	—	—	—	—	—	—
Total current liabilities	—	—	—	—	—	—	—	—	—	—
Long-term debt	987M	759M	836M	1.3B	3.1B	3.5B	3.7B	4.3B	4.7B	4.8B
Total liabilities	—	—	—	—	—	—	—	—	86.8B	100B
Shareholders' equity	6.9B	4.5B	4.6B	5.4B	8.4B	9.5B	6.6B	7.5B	8.5B	9B
Total debt	987M	759M	836M	1.3B	3.1B	3.5B	3.7B	4.3B	4.7B	4.8B
Net debt	-62M	-351M	-9M	288M	627M	-370M	1.6B	1.8B	1.3B	2.4B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	23.9B	26.6B	27B	29.2B	31.1B	31B	30.6B	31.8B	32.4B	31.7B	30.9B	31.3B
Receivables	7.9B	9.4B	10.5B	11.5B	12.9B	13.9B	15.2B	16.3B	17.3B	18B	20.5B	21.4B
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	—	—	—	—	—	—	—	—	—	—	—	—
Property, plant & equipment	—	—	—	—	—	—	—	—	—	—	—	—
Goodwill & intangibles	19.4B	19.8B	21.1B	21.8B	22.9B	23.3B	23.6B	24B	24.3B	24.7B	24.8B	25.1B
Total assets	—	—	84.5B	88.8B	94.7B	95.4B	98.2B	102.3B	106.6B	109B	111.5B	114.5B
Accounts payable	2.4B	339M	3.1B	3.4B	4.4B	191M	3.3B	3.7B	3.8B	246M	3.3B	3.9B
Short-term debt	—	—	—	—	—	—	—	-3M	-3M	—	—	—
Total current liabilities	—	—	—	—	—	—	—	—	—	—	—	—
Long-term debt	4.1B	4.3B	4.3B	4.6B	4.6B	4.7B	4.8B	4.8B	4.8B	4.8B	4.8B	4.7B
Total liabilities	—	—	76.7B	80.8B	85.8B	86.8B	89.4B	93.5B	97.3B	100B	102.8B	105.7B
Shareholders' equity	6.6B	7.5B	7.8B	8B	8.9B	8.5B	8.8B	8.8B	9.3B	9B	8.7B	8.8B
Total debt	4.1B	4.3B	4.3B	4.6B	4.6B	4.7B	4.8B	4.8B	4.8B	4.8B	4.8B	4.7B
Net debt	1.3B	1.8B	984M	7M	-690M	1.3B	441M	1.9B	1.5B	2.4B	2.6B	1.7B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	692M	794M	635M	1.1B	1.5B	2.8B	1.3B	518M	1.4B	679M
Depreciation & amortization	—	—	—	—	—	—	—	—	—	—
Stock-based compensation	58M	44M	31M	38M	39M	42M	49M	60M	82M	88M
Change in working capital	-16M	-144M	-13M	138M	-104M	278M	-263M	449M	-267M	378M
Operating cash flow	734M	694M	653M	1.3B	1.3B	2.9B	677M	850M	875M	5.8B
Capital expenditure	-284M	-145M	-62M	-92M	-110M	-131M	-138M	-132M	-146M	—
Investing cash flow	-330M	-25M	-427M	-566M	-2.6B	-7.9B	-10.9B	-9.5B	-8.5B	-9.5B
Dividends paid	-239M	-278M	-328M	-344M	-389M	-446M	-489M	-500M	-532M	-546M
Share repurchases	-276M	-70M	-20M	-86M	-236M	-463M	-553M	-24M	0	-251M
Financing cash flow	-447M	-1.1B	-461M	-521M	2B	5B	4.1B	3.1B	1.7B	2.3B
Net change in cash	-43M	-391M	-235M	163M	747M	-97M	-6.1B	-5.6B	-5.9B	-1.4B
Free cash flow	872M	588M	860M	1B	1.5B	4B	4.2B	6.3B	6.7B	5.7B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	477M	-114M	269M	343M	271M	508M	83M	293M	389M	-86M	321M	276M
Depreciation & amortization	—	—	—	—	—	—	—	—	—	—	—	—
Stock-based compensation	15M	17M	16M	17M	15M	34M	21M	20M	23M	24M	23M	23M
Change in working capital	-46M	384M	-92M	246M	532M	-581M	18M	-109M	40M	429M	-4M	-89M
Operating cash flow	329M	327M	111M	550M	814M	-228M	150M	1.9B	1.3B	1.5B	875M	1.9B
Capital expenditure	-32M	-31M	-35M	-41M	-40M	-30M	-37M	—	—	—	—	—
Investing cash flow	-1.6B	-3.5B	-1.1B	-2B	-2.1B	-3.2B	-866M	-3.5B	-2.2B	-2.9B	-1B	-156M
Dividends paid	-123M	-134M	-130M	-131M	-130M	-141M	-136M	-135M	-135M	-140M	-140M	-138M
Share repurchases	-2M	0	0	0	0	0	-24M	-154M	-43M	-30M	-78M	-60M
Financing cash flow	526M	610M	254M	1.9B	-308M	-144M	671M	375M	965M	244M	-99M	-785M
Net change in cash	-789M	-2.5B	-767M	463M	-1.6B	-3.6B	-45M	-1.3B	106M	-1.2B	-264M	930M
Free cash flow	1B	2.2B	1.6B	1.3B	2.3B	1.5B	1.1B	1.9B	1.3B	1.5B	848M	1.8B

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	7.7B	—	8B	11.5B	10.3B	13.8B	10B	13.3B	14.7B	14.8B	11B
Enterprise value	4.8B	—	5.5B	8.8B	-17.4B	-19.1B	-7.6B	-9B	-11.7B	-12.1B	13.2B
Shares outstanding	338.8M	271M	273M	273M	284M	285M	275M	270M	271M	271M	271M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	11.1	—	12.5	10.7	7.09	4.89	7.64	25.6	10.5	21.8	14.4
P/S	1.06	—	1.05	1.36	0.96	0.92	0.87	1.15	1.1	1.05	0.72
P/B	1.12	—	1.72	2.14	1.23	1.46	1.52	1.78	1.72	1.65	1.48
EV/EBITDA	—	—	—	—	—	—	—	—	—	—	5.49
EV/Sales	0.65	—	0.72	1.04	-1.63	-1.27	-0.66	-0.78	-0.87	-0.86	0.86
Earnings yield	8.98%	—	7.98%	9.37%	14.1%	20.4%	13.1%	3.9%	9.48%	4.59%	6.96%
FCF yield	11.3%	—	10.8%	8.93%	14.3%	28.7%	42.3%	47.8%	45.5%	38.4%	32.6%
PEG	—	—	—	—	—	—	—	—	—	—	2.44

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Operating margin	—	—	—	—	—	—	—	—	—	—	10.7%
Net margin	9.54%	10.4%	8.36%	12.7%	13.6%	18.7%	11.4%	4.5%	10.4%	4.8%	5.03%
ROE	10%	17.8%	13.7%	20.1%	17.3%	29.8%	19.9%	6.94%	16.3%	7.57%	10.2%
ROA	—	—	—	—	—	—	—	—	1.46%	0.62%	1.23%
Return on tangible assets	—	—	—	—	—	—	—	—	1.93%	0.81%	1.01%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	—	—	—	—	—	—	—	—	—	—	0.94
Debt / equity	0.14	0.17	0.18	0.24	0.37	0.37	0.56	0.57	0.55	0.53	0.54
Debt / assets	—	—	—	—	—	—	—	—	0.05	0.04	0.04
Net debt / EBITDA	—	—	—	—	—	—	—	—	—	—	0.32
Interest coverage	15.9	19	18.4	30.1	20.8	32.2	16	4.98	9.33	6.77	8.16
Effective tax rate	36.3%	27.2%	16%	22.5%	18%	22.8%	25.4%	27.7%	21.1%	53.9%	49.7%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	21.4	28.3	27.8	31	37.7	52.9	41.7	42.7	49.3	52.2	57.1
EPS (basic)	1.92	2.44	2.3	3.89	5.02	8.5	4.13	1.91	4.69	2.22	2.22
EPS (diluted)	1.92	2.38	2.26	3.83	4.99	8.44	4.1	1.91	4.65	2.21	2.87
Book value per share	20.4	16.5	17	19.7	29.5	33.2	23.9	27.6	31.5	33.1	27.8
FCF per share	2.57	2.17	3.15	3.75	5.17	13.9	15.3	23.5	24.6	21	20.3
Cash per share	11.6	11.9	12.2	14.5	108.5	127.6	77.3	98.4	114.6	117	15
Capex per share	0.84	0.54	0.23	0.34	0.39	0.46	0.5	0.49	0.54	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	3.91%	1.89%	0.82%	1.09%	1.03%	0.87%	1.2%	1.15%	1.09%	—	—
Capex / operating cash flow	38.7%	20.9%	9.49%	7.36%	8.56%	4.53%	20.4%	15.5%	16.7%	—	—
Payout ratio	34.5%	35%	51.7%	32%	26.8%	15.8%	37.4%	96.5%	38.2%	80.4%	71.8%
Dividend yield	3.1%	—	4.12%	3%	3.78%	3.23%	4.9%	3.76%	3.63%	3.69%	5.06%

Yield

5.06%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.52

ex-dividend Sep 16, 2026

Payout ratio

72%

of earnings

Dividend growth

11 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 16, 2026	$0.52
Jun 16, 2026	$0.52
Mar 17, 2026	$0.52
Dec 17, 2025	$0.5014
Sep 16, 2025	$0.50
Jun 16, 2025	$0.50
Mar 17, 2025	$0.50
Dec 17, 2024	$0.50

Split history

Date	Ratio
Dec 17, 2025	1037:1000
Dec 1, 2022	104:100
Oct 2, 2017	1385:1000
Jul 1, 2014	1216:1000

Fidelity National Financial, Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Split history

Fidelity National Financial, Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Split history