At a glance
Fidelity National Information Services Inc is worth $20.71B, about 55 times its fiscal 2025 earnings. Revenue grew 5.4% to $10.68B in fiscal 2025, with 3.6% kept as profit; over 4 years it has grown 3.4% a year. It pays a 4.28% dividend yield, and returned $15.02B to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned −33.3% over the past year with dividends reinvested and −15.8% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 34.7% in the 2020 crash (S&P 500: 33.7%) and 38.4% in the 2022 bear market (S&P 500: 24.5%).
The business in plain English
Fidelity National Information Services, or FIS, is a financial technology company based in Jacksonville, Florida. It provides software and processing services to banks and other businesses, from global financial institutions to U.S. regional and community banks, credit unions and commercial lenders. Much of its business comes from multi-year contracts that produce recurring revenue. Clients either license FIS software and pay for maintenance, or have FIS run the systems for them at the client's own site, in an FIS data center or in its private cloud.
Banking Solutions is the largest segment, with $7.29 billion, or 68.2%, of 2025 revenue of $10.68 billion. It is built around core processing: the software that keeps a bank's main records of customer deposits and loans. Alongside that, FIS offers online and mobile banking, fraud and compliance tools, and card services that let banks issue Visa and Mastercard credit and debit cards. Capital Market Solutions contributed 29.9% of revenue. North America produced 77.8% of sales and other regions 22.2%.
FIS has also reshaped itself. In January 2024 it sold 55% of its Worldpay merchant-payments business to funds managed by GTCR. On January 9, 2026, it sold the remaining 45% stake to Global Payments and bought Global Payments' Issuer Solutions business, funded by that sale plus about $7.7 billion of new debt.
Price history
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FIS -33.3% over the year to Nov 2, 2026, total return with dividends reinvested.
How it makes money
By business segment
| Banking Solutions | $7.29B | 68.2% |
| Capital Market Solutions | $3.20B | 29.9% |
By geography
| North America | $8.31B | 77.8% |
| All others | $2.37B | 22.2% |
Latest results
- In Q2 FY2026 (ended Jun 30, 2026), revenue was $3.38B, up 29.1% from a year earlier, and net income was $231.0M.
- For fiscal 2025, revenue was $10.68B (+5.4% year over year; +3.4% a year from FY2021 to FY2025) with a 3.6% net margin.
Financial health check
| Revenue growth a year (FY2021–FY2025) | +3.4% watch |
|---|---|
| Operating margin | 16.3% good |
| Free cash flow margin | 23% good |
| Return on equity (FY2025) | 2.7% weak |
| Return on assets (FY2025) | 1.1% weak |
| Net cash (cash minus debt) | $-20.43B weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $12.55B | $158.0M | $4.18B |
| FY2021 | $9.34B | $417.0M | $4.49B |
| FY2022 | $9.72B | $-16.75B | $3.71B |
| FY2023 | $9.83B | $-6.66B | $4.22B |
| FY2024 | $10.13B | $1.45B | $2.08B |
| FY2025 | $10.68B | $382.0M | $2.45B |
Valuation snapshot
| Market value | $20.71B |
|---|---|
| P/E ratio | 55 |
| Dividend yield | 4.28% |
Rank among 1514 US companies
Market value at each year end
Fidelity National Information Services’s market value went from $49.65B at the end of 2016 to $20.71B on Nov 2, 2026, down 58%; since the end of 2025 it is down 40%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Nov 2, 2026 | $20.71B | -39.8% |
| 2025 | $34.42B | -20.9% |
| 2024 | $43.48B | +22.2% |
| 2023 | $35.59B | -11.6% |
| 2022 | $40.26B | -39.4% |
| 2021 | $66.47B | -24.3% |
| 2020 | $87.78B | +2.7% |
| 2019 | $85.48B | +27.3% |
| 2018 | $67.17B | +6.9% |
| 2017 | $62.83B | +26.5% |
| 2016 | $49.65B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| FIS price data to Nov 2, 2026 | -37.7% | -33.3% | -5.3% | -15.8% | -4.2% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -37.6% |
| 2025 | -15.8% |
| 2024 | +37.0% |
| 2023 | -7.5% |
| 2022 | -36.5% |
| 2021 | -21.9% |
| 2020 | +2.8% |
| 2019 | +37.2% |
| 2018 | +10.3% |
| 2017 | +26.0% |
| 2016 | +26.6% |
| 2015 | -1.0% |
| 2014 | +17.9% |
| 2013 | +57.3% |
| 2012 | +34.1% |
| 2011 | -2.2% |
| 2010 | +17.8% |
| 2009 | +45.5% |
| 2008 | -28.3% |
| 2007 | +4.2% |
| 2006 | +8.8% |
| 2005 | +14.8% |
| 2004 | +8.9% |
| 2003 | +34.0% |
| 2002 | -28.3% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 40.1% over that stretch · deepest drop along the way 52.3%, back to its old high 18 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 34.7% over that stretch · deepest drop along the way 34.7%, back to its old high 13.2 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 34.2% over that stretch · deepest drop along the way 38.4%, not recovered by the end of the data |
Insider activity
Form 4 filings from 2025-10-27 to 2026-10-27 (25 read): 5 open-market purchases ($1.2M) and 0 sales ($0.00).
| Date | Insider | Type | Value |
|---|---|---|---|
| Mar 5, 2026 | Stephanie Ferris CEO and President | buy | $1.0M |
| Jan 15, 2026 | Jeffrey A Goldstein Director | buy (plan) | $60K |
| Oct 15, 2026 | Jeffrey A Goldstein Director | buy (plan) | $58K |
| Jul 15, 2026 | Jeffrey A Goldstein Director | buy (plan) | $57K |
| Apr 15, 2026 | Jeffrey A Goldstein Director | buy (plan) | $57K |
Who owns it
Large shareholders (13G filings)
| Dodge & Cox | 9.5% | Dec 31, 2025 |
| Vanguard Capital Management | 7.54% | Mar 31, 2026 |
| BlackRock, Inc. | 7.4% | Mar 31, 2025 |
| JPMORGAN CHASE & CO | 7.3% | Mar 31, 2026 |
| JPMORGAN CHASE & CO. | 5.2% | Jun 30, 2026 |
| Capital Research Global Investors | 3.7% | Mar 31, 2026 |
ETFs with the most weight in FIS
| FINX Global X FinTech ETF | 6.98% |
| IPAY Amplify Mobile Payments ETF | 5.48% |
| BAMV Brookstone Value Stock ETF | 3.72% |
| JDIV JPMorgan Dividend Leaders ETF | 2.6% |
| BLCV iShares Large Cap Value Active ETF | 2.45% |
| BEEX Beehive ETF | 2.35% |
| GTEK Goldman Sachs Future Tech Leaders Equity ETF | 2.35% |
| GOP Unusual Whales Subversive Republican Trading ETF | 2.23% |
What could go wrong
- Heavy debt after a big acquisition. FIS borrowed about $7.7 billion toward the Issuer Solutions deal. Debt was $21.2 billion, against $744 million of cash, as of June 30, 2026. Higher rates or a credit downgrade could raise borrowing costs.
- Big deals may not work as planned. FIS sold its last Worldpay stake and bought Issuer Solutions from Global Payments in January 2026. The new business may disappoint, and goodwill (the premium paid for acquisitions) could be written down, cutting reported profit.
- Cyberattacks and service outages. FIS holds Social Security numbers, account numbers and card data for clients' customers and is a regular hacking target. A breach or outage could mean contract breaches, lawsuits, fines and reputational harm.
- Fewer banks can mean fewer clients. Banking Solutions made up 68.2% of 2025 revenue. When banks and credit unions merge or fail, FIS can lose clients and grow more dependent on a smaller number of them.
- Falling behind on technology. Digital banking, security and AI are changing what clients need. If FIS's upgrades, including modernizing its core banking software, fall short or rivals move faster, it could lose clients and struggle to win new ones.
- Errors when moving clients' money. FIS handles debit card, credit card, bill payment and check-clearing transactions. Undetected errors in settling funds, fraudulent payments or lost access to clearing services could cause FIS financial losses.
Recent events
- Quarterly results released
- Executive or board change
- Shareholder vote results
- Quarterly results released
- Executive or board change
- Executive or board change
- Major agreement signed; Other company announcement
- Other company announcement
- Quarterly results released
- Executive or board change
For income and retirement investors
FIS's regular dividend rose from $1.40 a share in 2020 to $2.08 in 2023, was cut to $1.44 in 2024, then rose to $1.60 in 2025, a one-year increase streak. The 2025 dividend was 221.7% of earnings, so it exceeded reported profit, but just 34.5% of free cash flow (cash left after running and investing in the business). The yield was 4.71% as of October 28, 2026. Buybacks totaled $10.04 billion in 2021–2025, and the share count fell 16.5% from August 2021 to July 2026.
In downturns the stock has fallen hard: 52.3% in the 2008 financial crisis (about 18 months to recover from its low) and 34.7% in the 2020 COVID crash (about 13 months). It fell 38.4% in the 2022 bear market and, as of October 28, 2026, had not recovered; it was down 43.4% in 2026 to that date. A single stock carries more risk than a diversified fund.
Questions investors ask
How does FIS make money?
FIS makes money by providing software and processing services to banks and other financial firms, much of it under multi-year contracts that bring in recurring revenue. Banking Solutions, which covers core account systems, digital banking, fraud tools and card programs, produced $7.29 billion, or 68.2%, of 2025 revenue of $10.68 billion. Capital Market Solutions added 29.9%. North America accounted for 77.8% of revenue.
Does FIS still own Worldpay?
No. FIS sold 55% of its Worldpay Merchant Solutions business to funds managed by GTCR on January 31, 2024, keeping a 45% stake. In April 2025 it agreed to a deal with Global Payments: Global Payments would take that stake, and FIS would acquire Global Payments' Issuer Solutions business. The deal closed on January 9, 2026. FIS funded the purchase with the Worldpay stake sale plus about $7.7 billion of new debt.
Does FIS raise its dividend every year?
No. Regular dividends per share rose each year from $1.40 in 2020 to $2.08 in 2023, then were cut to $1.44 in 2024. They rose to $1.60 in 2025, leaving a one-year streak of increases and average growth of about 2.7% a year since 2020. Dividends paid in 2025 were 221.7% of net income, so they exceeded reported profit, but 34.5% of free cash flow, the cash left after running and investing in the business. The yield was 4.71% as of October 28, 2026.
How much debt does FIS have?
About $21.17 billion of total debt as of June 30, 2026, against $744 million of cash and investments, leaving net debt (debt minus cash) of roughly $20.4 billion. Debt exceeded the company's stock market value, which was $18.8 billion as of October 28, 2026. FIS took on about $7.7 billion of new debt to help pay for Issuer Solutions in January 2026. Its annual report lists higher interest rates, euro exchange-rate swings on its euro-denominated bonds and a possible credit downgrade as risks.
How has FIS stock performed?
Poorly over most periods. As of October 28, 2026, the stock was down 43.4% in 2026 to date and 42.5% over one year. Over five years it fell 62%, about 17.8% a year, and over ten years it fell 40%, about 5% a year. It gained 36.96% in 2024 but lost 15.81% in 2025. On October 28, 2026, it traded at 50 times 2025 earnings, a high multiple because earnings per share dropped to $0.73 from $2.61 in 2024.