Fidelity National Information Services, Inc. (FIS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+120.2%

$87.72

vs $39.84 price

Levered DCF

$133.52

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

0.08

Distress zone

Rating

A+

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	89.81×	56.88×	-5.33×	-2.45×	161.23×	554.31×	207.69×	39.75×
P/B	2.47×	2.85×	1.86×	1.51×	1.42×	1.78×	1.25×	3.29×
P/S	3.22×	4.41×	3.61×	4.22×	4.85×	6.98×	5.99×	3.99×
EV / EBITDA	16.24×	16.36×	18.73×	21.19×	17.15×	24.59×	25.13×	14.78×
Gross margin	36.9%	37.6%	37.2%	36.0%	37.4%	33.5%	36.0%	33.9%
Operating margin	16.5%	16.9%	20.8%	19.6%	15.1%	12.3%	17.0%	20.3%
Net margin	3.6%	14.3%	-67.7%	-172.0%	3.0%	1.3%	2.9%	10.0%
Current ratio	0.59×	0.85×	0.75×	0.79×	0.74×	0.8×	0.84×	1.19×
Debt / equity	0.96×	0.74×	1.02×	0.75×	0.44×	0.42×	0.42×	0.88×
Interest coverage	4.79×	4.87×	2.86×	6.38×	9.73×	4.56×	4.55×	5.46×
Dividend yield	2.5%	1.8%	3.5%	2.8%	1.4%	1.0%	1.1%	1.3%
Payout ratio	221.7%	55.2%	-18.5%	-6.8%	230.5%	549.4%	220.1%	49.8%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	2.7%	9.2%	-34.9%	-61.4%	0.9%	0.3%	0.6%	8.3%
Return on invested capital	3.5%	4.0%	3.6%	2.3%	1.5%	1.3%	1.7%	6.6%
Return on assets	1.1%	4.3%	-12.1%	-26.4%	0.5%	0.2%	0.4%	3.6%
Free cash flow yield	8.2%	4.4%	11.9%	9.0%	5.3%	3.8%	2.6%	4.1%
Earnings yield	1.1%	3.2%	-18.7%	-40.8%	0.6%	0.2%	0.5%	2.5%
Enterprise value	$47.1B	$55.4B	$54.4B	$60.9B	$86.1B	$106.2B	$81.5B	$41.9B
Net debt / EBITDA	4.39×	3.16×	6.51×	6.94×	3.76×	4.32×	6.05×	2.92×
Cash conversion cycle (days)	77	69	68	54	64	37	77	43