Fidelity National Financial, Inc.

Title Insurance

FNFStrained9 of 11 basics passed

$38.80

-2.44%

Market cap $10.4B

$38.80

-2.44%

Market cap $10.4B

Fidelity National Financial Inc is a provider of (i) title insurance, escrow and other title-related services, including trust activities, trustee sales guarantees, recordings and reconveyances and home warranty and (ii) transaction services to the real estate and mortgage industries.

It is a $10.4B financial services company. Revenue grew 13.0% over the last year, and it keeps 5¢ of every dollar of sales as profit. It trades at 13.5× earnings — around the middle of its own history.

Website: fnf.com
Location: Jacksonville, FL
Employees: 24 535
Sector: Financial Services

Share price · 3 years

$39.05 → $38.80-0.6%

price only — dividends excluded

Key facts · TTM

Revenue: total sales; $15.4B
Profit: keeps 5¢ of every $1 sold; $772M
Free cash flow: cash left after running the business; $5.56B
Net cash: more cash than debt; $156M
P/E: years of profit in the price; 13.5
EPS: earnings per share, TTM; $2.84
Dividend: pays out 46% of profit · 10% of FCF; 5.31%
Shares: down 22% since 2016 — buybacks; 272.0M
Volatility: beta vs the market — under 1 swings less; 0.98

Revenue, last 10 years

52-week range

Low $38.65$38.80High $59.54

Today's price is 1% of the way from the year's low to its high.

P/E vs its history5y

13.5×median 14.4×

Higher than 40% of past days — around the middle of its own history.

Valuation vs own history

P/E

13.5×

61%

P/S

0.7×

98%

EV/EBITDA

5.7×

99%

P/B

1.2×

100%

Share of the last ~5 years that was pricier than today (unusually cheap vs its own history). Based on the daily valuation record.

Standing in Financial Services

Size$10.4Btop 82%
Revenue growth+8%top 58%
Net margin5%top 83%
Return on equity10%top 68%
P/E13.5×top 45%
Dividend yield5.31%top 5%

Ranked against 129 Financial Services companies with a full CV — for P/E, lower ranks higher.

Skills

Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.

Strong valuation; Growth, Profitability, Health and Moat lag behind.

Valuation95

P/E vs own history40th pct · 20/25
FCF yield53.4% · 25/25
P/S0.7x · 25/25
EV/EBITDA3.9x · 25/25

Growth25

Revenue CAGR-2.0% · 0/25
Net income CAGR-29.4% · 0/25
EPS CAGR ~5Y-15.0% · 0/25
Fwd implied growth73.7% · 25/25

Profitability49

ROIC8.3% · 12/25
ROE10.1% · 12/25
Net margin5.0% · 13/25
Operating margin12.9% · 12/25

Health43

Altman Zn/a · 0/25
Current ratio0.37 · 0/25
Interest coverage6.8x · 18/25
Net cash / debtNet cash · 25/25

Quality60

Piotroski F5/9 · 15/25
Beneish M-2.60 · 25/25
FCF conversionn/a · 0/25
Margin stabilityσ 5.2% · 20/25

Moat37

ROIC >12% years5/5 yrs · 25/25
Median gross marginn/a · 0/25
FCF-positive yearsn/a · 0/25
Worst-year net marginworst 4.2% · 12/25

How the scores work →

Experience

The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.

FY2021Financial
Best year on record
$2.42B net income
FY2020Financial
Revenue crossed $10B
$10.8B for the year
FY2017Financial
Became debt-free
cash now exceeds total debt
FY2016Financial
Profitable every year on record
10 consecutive profitable years in our data
FY2016Financial
Revenue already above $1B
$9.55B in first reported year
FY2016Financial
Positive free cash flow every year since
10-year streak

Achievements

Verifiable track record, straight from the reported numbers.

$10 000 invested in 2021 would be worth ~$8 431 today — price return only

$14.4B revenue in FY2025

Revenue up 13.0% year over year

Profitable 10 years in a row

Positive free cash flow 10 years in a row

24 535 employees

Strengths & watch-outs

What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.

Strengths

Revenue growing 13.0% year over year
Strong cash conversion — FCF is 36.2% of revenue
Net cash position after subtracting debt from cash
Interest covered 6.8× by operating earnings

Watch-outs

Nothing stands out as a concern in the available data.

Qualifications

The basics a company should meet before you research it further. Each check uses the reported numbers.

9 of 11 checks passed

Revenue growing — the company sells more than a year ago+13.0% YoY
Profitable — makes more than it spends$772M TTM
Profit growing — earnings are higher than last year-22.0% YoY
Generates cash — cash left after running and investing$5.56B TTM
Debt under control — could handle its obligationsmore cash than debt
Established company — not a micro-cap — lower blow-up risk$10.4B market cap
Not printing shares — share count not ballooning — you keep your slice-4.9% shares over ~5y
Proven track record — years of profitability behind it10/10 profitable years
Financially stable — balance sheet not near distresshealth score 18/100
Pays a dividend — returns cash to shareholdersyield 5.31%
Valuation not extreme — price not wildly above earningsP/E 13.5

Peer comparisonFidelity National Financial, Inc. vs 6 largest financial services peers — cap, P/E, growth and margin side by sideOpen ▾

Company	Market cap	P/E	Revenue growth	Net margin	Profile
FNF this company	$10.4B	13.5	+13.0%	5.0%	Strained
BRK.A Berkshire Hathaway Inc.	$1.1T	11.6	+3.9%	22.3%	Mixed
BRK.B Berkshire Hathaway	$1.1T	11.6	+0.0%	18.0%	Strong
JPM JPMorgan Chase & Co.	$886.2B	13.6	+13.5%	32.6%	Strained
V VISA Inc.	$723.9B	31.9	+14.4%	50.8%	Solid
MA Mastercard Incorporated	$516.4B	31.7	+16.0%	46.3%	Mixed
BAC Bank of America Corporation	$380.4B	11.3	+15.9%	27.8%	Mixed

Head-to-head: FNF vs BRK.A · FNF vs BRK.B · FNF vs JPM

References

What covering analysts publish about the company — information only, not a recommendation.

Strong buy 2Buy 5Hold 3

Appendix · Financial records

The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.

Profit & lossRevenue $15.4B · net income $772M (TTM)Open ▾

Profit & loss

Revenue and profit over the company's career — the income statement, visualised.

RevenueNet income

Revenue (TTM)

$15.4B

YoY 13.0%

Net income (TTM)

$772M

Margin 5.0%

Operating margin

12.9%

P/E ratio

13.5

Dividend yield

5.31%

Income statement — full detail

Figures in USD billions · EPS in USD

	2020	2021	2022	2023	2024	2025
Revenue	10.8	15.6	11.6	11.8	13.7	14.4
Gross profit	—	—	—	—	—	—
Operating income (EBIT)	—	3.6	1.7	1.0	1.9	1.8
Net income	1.4	2.4	1.1	0.5	1.3	0.6
EPS (diluted)	4.99	8.44	4.10	1.91	4.65	2.21

Cash flowFree cash flow $5.56B · operating cash flow $5.56B (TTM)Open ▾

Cash flow statement

Cash generated by the business and what is left after investment — year by year.

Operating cash flowFree cash flow

Free cash flow (TTM)

$5.56B

Margin 36.2%

Operating cash flow (TTM)

$5.56B

Cash flow statement — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Operating cash flow	1.6	4.1	4.4	6.5	6.8	5.8
Capital expenditure	—	—	—	—	—	—
Free cash flow	1.6	4.1	4.4	6.5	6.8	5.8
FCF margin	14.6%	26.1%	37.7%	55.1%	49.8%	40.3%

Balance sheetAssets $109B · net cash $156M (FY2025)Open ▾

Balance sheet

How the balance sheet is built — what it owns versus how it is financed.

How $109B of assets is financed

93%

Liabilities $100B — borrowed moneyEquity $7.42B — owners' stake

Cash vs debt

Total debt $4.40B − cash $4.56B = net cash $156M

Cash on hand covers all debt.

Debt repayment

Not needed

Cash already covers all debt

Interest coverage

6.8x

EBIT ÷ interest expense

ROE

10.1%

Profit per $1 of equity

Balance sheet — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Cash & equivalents	3.5	4.9	4.9	4.9	6.5	4.6
Total assets	50.5	60.7	65.6	80.6	95.4	109.0
Total liabilities	42.1	51.2	59.6	73.2	86.8	100.0
Total debt	2.7	3.1	3.2	3.9	4.3	4.4
Equity	8.4	9.4	5.6	6.9	7.8	7.4
Net debt	-0.8	-1.8	-1.6	-1.0	-2.2	-0.2

Want the live picture — intraday moves, valuation history and full analysis?

Deeper analysis of FNF on PreMarketPrice

Figures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $38.80 · market cap $10.4B.