olivLaw · US equity research
Fidelity National Information Services, Inc. FIS
Services-Business Services, NEC · SIC 7389 · Vertical: Services-Business Services, NEC (SIC 7389)
FIS, a financial technology company headquartered in Jacksonville, reported consolidated revenue of 10,677 million USD for fiscal 2025. In the second quarter of 2026 GAAP revenue rose 29% to 3,377 million USD, while deleveraging became the priority after the Issuer Solutions acquisition. The company updated its 2026 outlook with Free Cash Flow of 2,150-2,250 million USD.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Fidelity National Information Services, Inc. (FIS) stock was 29.76 USD (−23.67% on the day), with market capitalisation 15.3 bn USD, P/E 4.4 on diluted EPS of 6.70 USD over the last 12 months, dividend yield 8.47%, beta 0.41, 52-week range 29.76–67.54 USD. Latest reported quarter (Q3 2026): revenue of 3.5 bn USD (+27.1% YoY), net income of 356.0 m USD (+34.8% YoY), diluted EPS 0.69 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 31.9
- weak (30–45)
- Bollinger (20, 2)
- 31.90 – 40.48
- below the lower band · %B -0.25 · band width 23.7%
- SMA 50 / 200
- 36.70 / 43.33
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- 0.02 / 0.17
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −11.4% | −1.1% | −10.3 pp | — |
| 3 months | −30.5% | −0.5% | −30.1 pp | — |
| 6 months | −35.3% | +4.4% | −39.7 pp | — |
| Year to date | −55.2% | +12.3% | −67.5 pp | — |
| 1 year | −52.9% | +13.5% | −66.4 pp | −1.1% |
| 3 years | −42.7% | +76.4% | −119.1 pp | +15.6% |
| 5 years | −73.8% | +63.7% | −137.5 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2.6 bn | 2.5 bn | 2.6 bn | 2.7 bn | 2.8 bn | 3.3 bn | 3.4 bn | 3.5 bn |
| Cost of revenue | 1.6 bn | 1.7 bn | 1.7 bn | 1.7 bn | 1.7 bn | 2.2 bn | 2.2 bn | 2.2 bn |
| Gross profit | 977.0 m | 879.0 m | 952.0 m | 1.0 bn | 1.1 bn | 1.1 bn | 1.2 bn | 1.3 bn |
| SG&A | 482.0 m | 558.0 m | 572.0 m | 584.0 m | 550.0 m | 605.0 m | 684.0 m | 627.0 m |
| Operating income | 494.0 m | 347.0 m | 408.0 m | 457.0 m | 529.0 m | 423.0 m | 507.0 m | 660.0 m |
| Depreciation & amortisation | 446.0 m | 456.0 m | 481.0 m | 479.0 m | 468.0 m | 628.0 m | 665.0 m | 675.0 m |
| Interest expense | 167.0 m | 80.0 m | 110.0 m | 90.0 m | 112.0 m | 197.0 m | 200.0 m | 199.0 m |
| Pre-tax income | 488.0 m | 230.0 m | 139.0 m | 375.0 m | 431.0 m | 259.0 m | 295.0 m | 447.0 m |
| Income tax | 147.0 m | 81.0 m | 10.0 m | 87.0 m | 86.0 m | 106.0 m | 63.0 m | 90.0 m |
| Net income | 281.0 m | 77.0 m | -470.0 m | 264.0 m | 511.0 m | 2.4 bn | 231.0 m | 356.0 m |
| Diluted EPS | 0.52 ≈ | 0.15 | -0.90 | 0.50 | 0.98 ≈ | 4.58 | 0.45 | 0.69 |
| Capex | 18.0 m | 37.0 m | 39.0 m ≈ | 59.0 m ≈ | 19.0 m | 50.0 m | 26.0 m ≈ | 66.0 m ≈ |
| Dividends paid | 192.0 m | 220.0 m | 212.0 m ≈ | 208.0 m ≈ | 207.0 m | 232.0 m | 228.0 m ≈ | 227.0 m ≈ |
| Share repurchases | 1.0 bn | 537.0 m | 287.0 m ≈ | 308.0 m ≈ | 293.0 m | 67.0 m | 52.0 m ≈ | 23.0 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 0 percentile of its own 36-quarter history (min 4.9, median 49.4, max 1,620.3; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 8.4 bn | 10.3 bn | 12.6 bn | 9.3 bn | 9.7 bn | 9.8 bn | 10.1 bn | 10.7 bn |
| Revenue YoY | −2.8% | +22.7% | +21.5% | −25.6% | +4.1% | +1.1% | +3.0% | +5.4% |
| Net income | 846.0 m | 298.0 m | 158.0 m | 417.0 m | -16.8 bn | -6.7 bn | 1.5 bn | 382.0 m |
| Net income YoY | −32.9% | −64.8% | −47.0% | +163.9% | −4,117.3% | unavailable | unavailable | −73.7% |
| Diluted EPS | 2.55 | 0.66 | 0.25 | 0.67 | -27.74 | -11.26 | 2.61 | 0.73 |
| Diluted EPS YoY | −32.0% | −74.1% | −62.1% | +168.0% | −4,240.3% | unavailable | unavailable | −72.0% |
| net % | 10.0% | 2.9% | 1.3% | 4.5% | -172.3% | -67.7% | 14.3% | 3.6% |
| Free cash flow | 1.9 bn | 2.2 bn | 4.2 bn | 4.5 bn | 3.7 bn | 4.2 bn | unavailable | unavailable |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 599.0 m USD
- Financial debt
- 11.8 bn USD
- Net debt
- 11.2 bn USD
- Equity
- 13.9 bn USD
- Total assets
- 33.5 bn USD
- Debt / equity
- 0.85x
- Current ratio
- 0.59x
- ROE
- 2.6%
- ROA
- 1.1%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 12.6 bn | 9.3 bn | 9.7 bn | 9.8 bn | 10.1 bn | 10.7 bn | SEC (XBRL)· 24 Feb 2026verified |
| Cost of revenue | 8.3 bn | 6.0 bn | 6.3 bn | 6.2 bn | 6.3 bn | 6.7 bn | SEC (XBRL)· 24 Feb 2026verified |
| Gross profit | 4.2 bn | 3.3 bn | 3.5 bn | 3.7 bn | 3.8 bn | 3.9 bn | SEC (XBRL)· 24 Feb 2026verified |
| SG&A | 3.5 bn | 2.1 bn | 2.2 bn | 2.1 bn | 2.2 bn | 2.3 bn | SEC (XBRL)· 24 Feb 2026verified |
| Operating income | 552.0 m | 1.0 bn | 1.2 bn | 1.4 bn | 1.7 bn | 1.7 bn | SEC (XBRL)· 24 Feb 2026verified |
| Depreciation & amortisation | 3.7 bn | 4.0 bn | 1.9 bn | 1.7 bn | 1.7 bn | 1.9 bn | SEC (XBRL)· 24 Feb 2026verified |
| EBITDA | 4.3 bn ≈ | 5.1 bn ≈ | 3.1 bn ≈ | 3.2 bn ≈ | 3.4 bn ≈ | 3.6 bn ≈ | SEC (XBRL)· 24 Feb 2026derived |
| Interest expense | 339.0 m | 214.0 m | 298.0 m | 713.0 m | 351.0 m | 391.0 m | SEC (XBRL)· 24 Feb 2026verified |
| Pre-tax income | 266.0 m | 789.0 m | -16.3 bn | 662.0 m | 1.3 bn | 1.2 bn | SEC (XBRL)· 24 Feb 2026verified |
| Income tax | 96.0 m | 403.0 m | 314.0 m | 157.0 m | 362.0 m | 265.0 m | SEC (XBRL)· 24 Feb 2026verified |
| Net income | 158.0 m | 417.0 m | -16.8 bn | -6.7 bn | 1.5 bn | 382.0 m | SEC (XBRL)· 24 Feb 2026verified |
| Diluted EPS | 0.25 | 0.67 | -27.74 | -11.26 | 2.61 | 0.73 | SEC (XBRL)· 24 Feb 2026verified |
| Weighted average diluted shares | 627.0 m | 621.0 m | 604.0 m | 591.0 m | 555.0 m | 525.0 m | SEC (XBRL)· 24 Feb 2026verified |
| Dividend per share | 1.40 | 1.56 | 1.88 | 2.08 | 1.44 | 1.60 | SEC (XBRL)· 24 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 2.0 bn | 2.0 bn | 456.0 m | 440.0 m | 834.0 m | 599.0 m | SEC (XBRL)· 24 Feb 2026verified |
| Receivables | 3.3 bn | 3.8 bn | 1.8 bn | 1.7 bn | — | — | SEC (XBRL)· 04 Nov 2024verified |
| Current assets | 9.9 bn | 10.7 bn | 12.8 bn | 13.7 bn | 5.2 bn | 4.5 bn | SEC (XBRL)· 24 Feb 2026verified |
| Property, plant & equipment, net | 887.0 m | 949.0 m | 709.0 m | 695.0 m | 646.0 m | 691.0 m | SEC (XBRL)· 24 Feb 2026verified |
| Goodwill | 53.3 bn | 16.9 bn | 16.8 bn | 17.0 bn | 17.3 bn | 17.8 bn | SEC (XBRL)· 24 Feb 2026verified |
| Intangibles (excl. goodwill) | 13.9 bn | 11.5 bn | 2.5 bn | 1.8 bn | 1.3 bn | 959.0 m | SEC (XBRL)· 24 Feb 2026verified |
| Total assets | 83.8 bn | 82.9 bn | 63.3 bn | 55.0 bn | 33.8 bn | 33.5 bn | SEC (XBRL)· 24 Feb 2026verified |
| Accounts payable | 2.5 bn | 2.9 bn | 1.6 bn | 1.8 bn | 2.0 bn | 2.1 bn | SEC (XBRL)· 24 Feb 2026verified |
| Short-term debt | 2.8 bn | 3.9 bn | 3.8 bn | 4.8 bn | 636.0 m | 2.7 bn | SEC (XBRL)· 24 Feb 2026verified |
| Long-term debt | 16.0 bn | 14.8 bn | 14.2 bn | 13.0 bn | 9.7 bn | 9.1 bn | SEC (XBRL)· 24 Feb 2026verified |
| Current liabilities | 12.4 bn | 14.5 bn | 16.2 bn | 18.2 bn | 6.1 bn | 7.6 bn | SEC (XBRL)· 24 Feb 2026verified |
| Total liabilities | 34.4 bn | 35.4 bn | 35.9 bn | 35.9 bn | 18.1 bn | 19.6 bn | SEC (XBRL)· 24 Feb 2026verified |
| Equity | 49.3 bn | 47.4 bn | 27.2 bn | 19.1 bn | 15.7 bn | 13.9 bn | SEC (XBRL)· 24 Feb 2026verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 4.4 bn | 4.8 bn | 3.9 bn | 4.3 bn | — | — | SEC (XBRL)· 26 Feb 2024verified |
| Capex | 263.0 m | 320.0 m | 227.0 m | 115.0 m | 97.0 m | 154.0 m | SEC (XBRL)· 24 Feb 2026verified |
| Free cash flow | 4.2 bn ≈ | 4.5 bn ≈ | 3.7 bn ≈ | 4.2 bn ≈ | — | — | SEC (XBRL)· 26 Feb 2024derived |
| Investing cash flow | -914.0 m | -1.8 bn | -373.0 m | -1.4 bn | — | — | SEC (XBRL)· 26 Feb 2024verified |
| Financing cash flow | -2.8 bn | -2.5 bn | -2.6 bn | -3.5 bn | — | — | SEC (XBRL)· 26 Feb 2024verified |
| Dividends paid | 868.0 m | 961.0 m | 1.1 bn | 1.2 bn | 800.0 m | 847.0 m | SEC (XBRL)· 24 Feb 2026verified |
| Share repurchases | 112.0 m | 2.1 bn | 1.9 bn | 522.0 m | 4.0 bn | 1.4 bn | SEC (XBRL)· 24 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 55 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 15.3 bn USD
Key indicators
Coverage and freshness
Score by group
- Valuation100
- Balance sheet21
- Quality41
- Growth26
- Returns100
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 21.03 – 260.30 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · the input exists, but its latest figure is far older than the latest reported period: not used
- Peers: EV/EBITDA99.04 – 120.71 (Mid 108.96)7 companies used · median multiple 16.3x · quartiles 15.2x – 17.7xBR, CPAY, EBAY, FICO, GPN, RBA, UBER
- Peers: P/E147.78 – 260.30 (Mid 208.99)10 companies used · median multiple 31.2x · quartiles 22.0x – 38.8xBR, CPAY, EBAY, FICO, MA, MELI, MSCI, PYPL, RBA, UBER
- Dividend discount (DDM)21.03 – 28.28 (Mid 24.12)
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 55/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 5.5% | 20 (vs peers) | 14% |
| Net margin · Quality | 26.8% | 75 (vs peers) | 9% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | 3.2% | 26 (on a fixed band) | 11% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | 4.0x | 27 (vs peers) | 14% |
| Interest coverage · Balance sheet | 3.0x | 23 (on a fixed band) | 9% |
| Current ratio · Balance sheet | 0.5x | 0 (on a fixed band) | 6% |
| P/E (TTM) · Valuation | 4.4x | 100 (vs peers) | 14% |
| EV/EBITDA · Valuation | 7.4x | 100 (vs peers) | 14% |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | 8.7% | 100 (on a fixed band) | 9% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet21/100 · 3/3 factors with a value
- Growth· partial26/100 · 1/2 factors with a value
- Quality41/100 · 2/3 factors with a value
- Returns· partial100/100 · 1/2 factors with a value
- Valuation100/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Fidelity National Information Services, Inc. (FIS). Latest full fiscal year: 2025; data up to 2026-09-30.
Figures computed from the financial statements: revenue 10.7 bn USD in 2025; YoY growth 5.4%; net margin 26.8%; ROE 23.0%; net debt/EBITDA 4.0x.
The estimated value range is 99.04–120.71 USD per share (median of 3 methods, agreement: low); assumptions are illustrative. Against the central value of 108.96 USD, the price of 29.76 USD leaves a potential of 266.1% (value / price − 1) and a margin of safety of 72.7% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 55/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: growth, returns. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net margin: 26.8%
- P/E (TTM): 4.4x
- EV/EBITDA: 7.4x
- Shareholder yield (distributions): 8.7%
- The price is below the estimated value range
What contradicts it
- ROIC: 5.5%
- Revenue CAGR 3Y: 3.2%
- Net debt / EBITDA: 4.0x
- Interest coverage: 3.0x
- Current ratio: 0.5x
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): FCF conversion, EPS CAGR 3Y, FCF yield, Payout ratio (FCF).
Versus the vertical median
Services-Business Services, NEC (SIC 7389) · same industry (4-digit SIC) · compared with 12 companies
Only companies with a capitalisation between 2.5 bn and 158.0 bn (within 8× of the company's); 87 of the vertical were left out.
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| UBERUber Technologies, Inc. | 142.7 bn | 41.3 | 12.4% | 6.1% | +18.3% | −20% / +24% |
| MELIMercadoLibre, Inc. | 88.2 bn | 47.3 | 27.5% | 5.3% | +39.1% | −16% / +7% |
| EBAYeBay Inc. | 54.9 bn | 27.2 | 46.6% | 16.9% | +7.9% | +51% / +205% |
| PYPLPayPal Holdings, Inc. | 50.0 bn | 11.5 | 23.8% | 13.8% | +4.3% | −4% / +4% |
| MSCIMsci Inc. | 48.2 bn | 35.7 | — | 40.3% | +9.7% | +20% / +29% |
| FISVFiserv, Inc. | 33.0 bn | — | -17.0% | -18.9% | +3.6% | +1% / −52% |
| CPAYCorpay, Inc | 27.5 bn | 25.4 | 30.5% | 22.7% | +13.9% | +42% / +74% |
| GPNGlobal Payments Inc. | 25.4 bn | — | -4.1% | -9.1% | −0.4% | +27% / −17% |
| BRBroadridge Financial Solutions, Inc. | 21.4 bn | 20.9 | 40.2% | 13.9% | +8.5% | −17% / −2% |
| RBARB Global, Inc | 17.6 bn | 39.9 | 8.8% | 10.0% | +7.2% | −3% / +49% |
| FISFidelity National Information Services, Inc. | 15.3 bn | 4.4 | 23.0% | 26.8% | +5.4% | −53% / −43% |
| FICOFair Isaac Corp | 15.1 bn | 20.3 | — | 34.1% | +15.9% | −61% / −36% |
| MAMastercard Incorporated | — | 35.2 | 231.4% | 46.7% | +16.4% | +22% / +63% |
1- and 3-year price returns: for FIS from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 17.40 Total return -35% · Per year -35% | 30.78 Total return 12% · Per year 12% | 46.39 Total return 66% · Per year 66% |
| 3 years | 16.44 Total return -26% · Per year -9% | 32.77 Total return 37% · Per year 11% | 54.29 Total return 117% · Per year 29% |
| 5 years | 15.53 Total return -17% · Per year -4% | 34.88 Total return 64% · Per year 10% | 63.53 Total return 176% · Per year 22% |
- Exit P/E± 8.19
- Net margin± 5.73
- Annual revenue growth± 4.77
- Annual dilution± 0.48
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 04 Aug 2026; since then the company filed 10-Q (04 Nov 2026), 8-K (04 Nov 2026 · results).
In brief
FIS, a financial technology company headquartered in Jacksonville, reported consolidated revenue of 10,677 million USD for fiscal 2025 1. In the second quarter of 2026 GAAP revenue rose 29% to 3,377 million USD, while deleveraging became the priority after the Issuer Solutions acquisition 23. The company updated its 2026 outlook with Free Cash Flow of 2,150-2,250 million USD 3.
SWOT
Strengths
Weaknesses
Opportunities
Risks
- Cybersecurityhigh
An attack or data breach could interrupt services and lead to litigation and fines 1.
- Post-acquisition leveragemedium
The new debt could limit a return to share repurchases and tuck-in M&A until the leverage target is reached 23.
- Integration of Issuer Solutionsmedium
If integration takes longer than expected, synergies could arrive later or cost more 2.
- Dependence on transaction volumesmedium
A decline in consumer spending or financial market activity could reduce fee revenue 1.
- Data protection ruleslow
New privacy and AI regulations could raise costs and change business processes 12.
Investment thesis
What would need to be true (bull case)
- If banks keep investing in modernization and AI, demand for the FIS platform could support recurring revenue growth.
- If synergies from the Issuer Solutions acquisition materialize, margins could stay high and cash generation could rise.
- Long multi-year client contracts provide a stable revenue base even during periods of uncertainty.
What would break the thesis
- High leverage could limit financial flexibility and slow the return to share repurchases.
- Moderate pro forma growth suggests part of the reported growth comes from acquisitions rather than organic expansion.
- Competition from global banks and internet companies could pressure pricing and market share.
What to watch
- Progress of deleveraging toward the target gross leverage of approximately 2.8xQ4 2026
- Delivery of the updated 2026 Free Cash Flow outlook2026
- Adjusted EBITDA margin after integrating Total Issuing SolutionsQ3 2026
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 04 Aug 2026; since then the company filed 10-Q (04 Nov 2026), 8-K (04 Nov 2026 · results).
The business
FIS describes its business as providing financial technology solutions to financial institutions, businesses and developers across the money lifecycle 1. The company operates mainly through Banking Solutions and Capital Market Solutions, while Corporate and Other holds the remaining non-strategic businesses 1. The sale of Worldpay Merchant Solutions was reported as discontinued operations, and the remaining minority stake was sold in 2026 1.
Revenue comes from recurring multi-year contracts, transaction processing fees, professional services and software licenses 1. The company follows a build, buy or partner strategy and is transforming into a platform company that embeds artificial intelligence in its solutions 1. The Issuer Solutions acquisition from Global Payments, closed on January 9, 2026, extended its card issuing portfolio 1.
The acquisition was funded with approximately 7.7 billion USD of new debt and the Worldpay minority stake sale 1. As of June 30, 2026 total debt was 21.2 billion USD, and the company temporarily curtailed share repurchases and tuck-in M&A to accelerate deleveraging 23.
Market context
The payments and bank technology market is concentrated in the United States, where the company earns most of its revenue, and is consolidating through bank mergers 1. International revenue comes mainly from the United Kingdom, Germany and Canada 1. Demand for core modernization and digital banking solutions remains strong among banks 3.
Sales cycles are relatively stable, but vendor costs keep rising and cannot always be fully offset through pricing 1. High interest rates affect interest expense, and currency effects are hard to predict 1. If consumer spending weakens, transaction volumes could be affected 1.
Trends
- Bank modernization and artificial intelligencetailwind
Banks are investing in modernization and AI, which could increase demand for integrated platforms 3. The company argues that its platform position is an advantage in this process 1.
- Banking consolidationmixed
Mergers among financial institutions can bring new clients, but can also reduce them if FIS solutions are not chosen for the combined entity 1.
- High cost of debtheadwind
High interest rates and the new debt from the Issuer Solutions acquisition raise interest expense and could slow deleveraging 13.
- Cyberattack threatmixed
Rising cyberattacks and attackers' use of AI may require more security investment, but also create demand for fraud prevention solutions 1.
Competitive position
The company faces competition from specialized vendors, technology start-ups, global banks and internet companies, especially in payments 1. Many large clients have historically built key applications in-house, so FIS also competes with clients' internal capacity 1.
International competitors are entering the US market with more force, and pricing pressure could grow 1. If components are unbundled from complete suites, clients could choose specialized providers 1.
- Global banks and bank-controlled businesses
Global banks and businesses they control are described as entering payments and could displace FIS solutions 1.
- Global internet companies
Internet companies introduce competing solutions, particularly in digital payments 1.
- Emerging technology start-ups
Smaller start-ups with new technologies attract investment and can compete in specific segments 1.
- International financial technology providers
International competitors are targeting the US market with greater force, according to the annual report 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
- Acțiunile Fidelity National Information Services scad cu peste 3%, pe măsură ce vânzătorii accelerează în pofida rezultatelor peste estimări - Traders UnionSurge — Google News · 29 Sept 2026 · RO
- Acțiunile Fidelity National Information Services scad cu peste 3%, pe măsură ce vânzătorii accelerează în pofida rezultatelor peste estimări - Traders UnionSurge — Google News · 29 Sept 2026 · RO
- Acțiunile Fidelity National Information Services testează suportul de $33,38 pe fondul intensificării presiunii din partea vânzătorilor - Traders UnionSurge — Google News · 28 Sept 2026 · RO
- Fidelity National Information Services Shares Fall After Wells Fargo DowngradeYahoo Finance — News · 25 Aug 2026 · EN
The latest news item in our archive is from 29 Sept 2026; the newest SEC filing is from 04 Nov 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Quarterly report04 Nov 2026
- Current report04 Nov 2026Results of operations · Financial statements and exhibits
- Quarterly report04 Aug 2026
- Current report04 Aug 2026Results of operations · Financial statements and exhibits
- Current report18 Jun 2026Departure or appointment of officers
- Current report12 Jun 2026Shareholder vote
- Quarterly report08 May 2026
- Current report08 May 2026Results of operations · Financial statements and exhibits
- Proxy statement28 Apr 2026
- Current report03 Apr 2026Departure or appointment of officers
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Fidelity National Information Services, Inc. · 24 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Fidelity National Information Services, Inc. · 04 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Fidelity National Information Services, Inc. · 04 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.