Fidelity National Financial, Inc. FNF
The following describes the business of Fidelity National Financial, Inc. and its subsidiaries. Except where otherwise noted, all references to "we," "us," "our", the "Company" or "FNF" are to Fidelity National Financial, Inc. and its subsidiaries, taken together.
We are a leading 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. FNF is one of the nation's largest title insurance companies operating through its title insurance underwriters - Fidelity National Title Insurance Company ("FNTIC"), Chicago Title Insurance Company ("Chicago Title"), Commonwealth Land Title Insurance Company ("Commonwealth Land Title"), Alamo Title Insurance ("Alamo Title") and National Title Insurance of New York Inc. ("National Title of New York") - which collectively issue more title insurance policies than any other title company in the United States. Through our subsidiary ServiceLink Holdings, LLC ("ServiceLink"), we provide mortgage transaction services including title-related services and facilitation of production and management of mortgage loans. We are also a leading provider of insurance solutions serving retail annuity and life customers and institutional clients through our majority-owned subsidiary, F&G Annuities & Life, Inc. ("F&G").
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.10B | $1.92B | $1.86B | $2.23B | $2.82B | $2.40B | $2.12B | $2.22B | $7.66B | $7.26B |
| Interest expense | — | $209.0M | $174.0M | $115.0M | $114.0M | $90.0M | $47.0M | $43.0M | $48.0M | $64.0M |
| Pre-tax income | $1.40B | $1.74B | $693.0M | $1.73B | $3.56B | $1.78B | $1.37B | $750.0M | $864.0M | $955.0M |
| Income tax | $753.0M | $367.0M | $192.0M | $439.0M | $813.0M | $322.0M | $308.0M | $120.0M | $235.0M | $347.0M |
| Net income | $602.0M | $1.27B | $517.0M | $1.29B | $2.80B | $1.43B | $1.06B | $628.0M | $771.0M | $650.0M |
| EPS, basic | 2.22 | 4.69 | 1.91 | 4.71 | 9.81 | 5.02 | 3.89 | 2.30 | — | — |
| EPS, diluted | 2.21 | 4.65 | 1.91 | 4.67 | 9.75 | 4.99 | 3.83 | 2.26 | — | — |
| Shares, diluted (wtd. avg.) | $272.0M | $273.0M | $271.0M | $277.0M | $287.0M | $286.0M | $277.0M | $278.0M | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $2.64B | $3.48B | $2.77B | $2.29B | $4.36B | $2.72B | $1.38B | $1.26B | $1.11B | $1.32B |
| Property, plant and equipment | $189.0M | $173.0M | $168.0M | $179.0M | $185.0M | $180.0M | $176.0M | $164.0M | $193.0M | $192.0M |
| Goodwill | $5.27B | $5.27B | $4.83B | $4.63B | $4.53B | $4.50B | $2.73B | $2.73B | $2.75B | $2.56B |
| Other intangibles | $917.0M | $966.0M | $4.63B | $3.81B | $523.0M | $540.0M | $422.0M | $513.0M | $618.0M | $585.0M |
| Total assets | $109.01B | $95.26B | $80.61B | $65.14B | $61.33B | $50.45B | $10.68B | $9.30B | $9.15B | $14.52B |
| Long-term debt | $4.40B | $4.32B | $3.89B | $3.24B | $3.10B | $2.66B | $838.0M | $836.0M | $759.0M | $987.0M |
| Total liabilities | $100.04B | $86.73B | $73.15B | $58.57B | $51.23B | $42.06B | $4.97B | $4.33B | $4.34B | $7.28B |
| Retained earnings | $5.48B | $5.98B | $5.24B | $5.22B | $4.37B | $2.39B | $1.36B | $641.0M | $217.0M | $1.78B |
| Total equity | $7.42B | $7.75B | $7.46B | $6.57B | $10.00B | $8.49B | $5.37B | $4.63B | $4.47B | $6.90B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $5.83B | $6.82B | $6.48B | $4.36B | $4.09B | $1.58B | $1.12B | $943.0M | $737.0M | $1.16B |
| Depreciation and amortisation | $844.0M | $739.0M | $593.0M | $491.0M | $432.0M | $296.0M | $178.0M | $182.0M | $389.0M | $431.0M |
| Stock-based compensation | $88.0M | $82.0M | $60.0M | $49.0M | $42.0M | — | $38.0M | $31.0M | $44.0M | $58.0M |
| Investing cash flow | -$8.93B | -$7.86B | -$9.09B | -$10.52B | -$7.45B | -$2.33B | -$520.0M | -$354.0M | $79.0M | -$191.0M |
| Financing cash flow | $2.26B | $1.76B | $3.09B | $4.09B | $5.00B | $2.10B | -$482.0M | -$442.0M | -$1.03B | -$428.0M |
| Dividends paid | $546.0M | $532.0M | $500.0M | $489.0M | $446.0M | $389.0M | $344.0M | $328.0M | $278.0M | $239.0M |
| Buybacks | $251.0M | $0 | $6.0M | $553.0M | $463.0M | $236.0M | $86.0M | $20.0M | $23.0M | $276.0M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-051485.
Others in SIC 6361
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| FAF | First American Financial Corp | $7.43B | 12.1x | 21.6% |
| STC | STEWART INFORMATION SERVICES CORP | $2.06B | 16.7x | 17.3% |
| ITIC | INVESTORS TITLE CO | $562.6M | 16.0x | 16.4% |