# Fidelity National Financial, Inc. (FNF) — Stock CV

Fidelity National Financial, Inc. 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.

> 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.

## Identity

- **Ticker**: FNF
- **Sector**: Financial Services
- **Industry**: Title Insurance
- **Headquarters**: JACKSONVILLE, FL
- **Employees**: 24 535
- **Website**: https://www.fnf.com
- **Market cap**: $10.4B
- **Last price**: $38.80
- **Financial profile**: Strained

## Vitals (TTM)

- **Revenue**: $15.4B
- **Net income**: $772M
- **Free cash flow**: $5.56B
- **Net cash**: $156M
- **P/E**: 13.5
- **Revenue growth (YoY)**: 13.0%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 95 |
| Growth | 25 |
| Profitability | 49 |
| Health | 43 |
| Quality | 60 |
| Moat | 37 |

## Qualifications (beginner checklist) — 9 of 11 passed

- [x] Revenue growing — +13.0% YoY
- [x] Profitable — $772M TTM
- [ ] Profit growing — -22.0% YoY
- [x] Generates cash — $5.56B TTM
- [x] Debt under control — more cash than debt
- [x] Established company — $10.4B market cap
- [x] Not printing shares — -4.9% shares over ~5y
- [x] Proven track record — 10/10 profitable years
- [ ] Financially stable — health score 18/100
- [x] Pays a dividend — yield 5.31%
- [x] Valuation not extreme — P/E 13.5

## Experience (career milestones)

- **FY2021** — Best year on record: $2.42B net income
- **FY2020** — Revenue crossed $10B: $10.8B for the year
- **FY2017** — Became debt-free: cash now exceeds total debt
- **FY2016** — Profitable every year on record: 10 consecutive profitable years in our data
- **FY2016** — Revenue already above $1B: $9.55B in first reported year
- **FY2016** — Positive free cash flow every year since: 10-year streak

## 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

- None stand out in the data.

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $15.6B | $2.42B | $4.09B |
| FY2022 | $11.6B | $1.14B | $4.36B |
| FY2023 | $11.8B | $517M | $6.48B |
| FY2024 | $13.7B | $1.27B | $6.82B |
| FY2025 | $14.4B | $602M | $5.83B |

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Source: https://stockcv.com/FNF — derived from company filings; may be delayed or incomplete. Information, not investment advice.