Fidelity National Information Services, Inc.
Orin's own judgment of how firmly the evidence points one way — not the chance the price goes up.
FIS trades at a steep discount to peers—5.5x P/E versus a 13.6x peer median and 9.0x EV/EBITDA versus 10.8x—while revenue has accelerated sharply to roughly 29–30% YoY in the first half of 2026 from 5.4% in FY2025, and free cash flow remained robust at $2.81B (26.3% margin) in FY2025.
The stock sits at $36.01, well below its 200-day MA of $45.18 and down nearly 48% from its 52-week high, but the MACD histogram has turned positive and RSI is neutral at 52, suggesting selling pressure is exhausting. With the Anthropic-partnered AML Investigations Agent now commercially available, consistent earnings beats, and open-market insider buying as recently as October 15, 2026, the combination of discounted valuation, accelerating top-line growth, and product momentum supports a contrarian buy.
What could go wrong
- Earnings quality and lumpiness. Q1 2026 net income spiked to $2.37B (EPS $4.58) then collapsed to $231M (EPS $0.45) in Q2 2026, suggesting one-time items distort reported profitability and make forward earnings hard to read.
- High leverage. Total debt stood at $13.33B as of FY2025 against stockholders' equity of $13.9B, limiting financial flexibility despite post-Worldpay deleveraging from $20.4B in 2022.
- Margin compression. Gross margin slipped from 37.6% in FY2024 to 36.9% in FY2025 and operating margin declined from 16.9% to 16.5%, while FY2025 net margin collapsed to 3.6% from 14.3%.
- Technical downtrend intact. Price remains below both the 50-day MA ($38.00) and 200-day MA ($45.18), and the stock is down ~48% from its 52-week high, so the primary trend is still bearish despite early stabilization signals.
What would change my mind
Where this comes from: peer comparison · quarterly results · fundamentals · technicals, 16 Oct. Orin's read on FIS; not advice.
How has the share price moved?
Down 46.5% over twelve months, from $66.53 on 27 Oct 2025 to $35.61 at the Tue 27 Oct 2026 close. Its highest close in that time was $67.54 on 8 Jan 2026; the last close is 47.3% below it.
- Green line: the closing price each trading day.
- Grey line: the average closing price over the last 50 trading days.
- Dashed amber line: the same over the last 200 trading days — a slower, smoother line.
- Bars along the bottom: shares traded each day — green when it closed higher than the day before, rose when lower (the most, 16.5M, on 4 Aug 2026).
- Flags: the company's filings, on the day they were made (a 10-Q is the quarterly report and a 10-K the annual report; an 8-K reports a major event).
On file
All FIS filingsLargest holders · 13F Q2 2026
Money flow| Filer | Position | Of fund |
|---|---|---|
| BlackRock | $1.7B | 0.0% |
| Vanguard Capital Management | $1.3B | 0.0% |
| JPMorgan Chase | $1.0B | 0.1% |
| State Street | $1.0B | 0.0% |
| Vanguard Portfolio Management | $941.6M | 0.0% |
| Capital World Investors | $811.4M | 0.1% |
| Capital Research Global Investors | $704.4M | 0.1% |
| Charles Schwab Investment Management | $634.2M | 0.1% |
| Geode Capital Management | $552.7M | 0.0% |
| Norges Bank | $307.3M | 0.0% |
95 of the 815 filers we track · quarter ended Q2 2026 · positions, not flows
Insiders, last 24 months: 100 Form 4 filings; open-market trades net $1.3M. Of the 50 on hand, 4 were open-market purchases and 0 sales — the rest are grants, option exercises and tax withholding.
Ask Orin about FIS
Orin answers questions about FIS from its filings, transcripts and numbers — with the source behind every claim. Your own desk starts with 3 free days, card required.
Start 3 free days →How is it priced, against its own past and its sector?
Priced at 4.4× its last 12 months of profit (Thu 5 Nov close) — lower than in all 3 of its last 5 fiscal years with a P/E (middle 89.8×); the typical Technology company on the NYSE is at 39.5×.
| Measure | Now | Its usual | Sector |
|---|---|---|---|
| P/E | 4.4×below usual | 89.8× | 39.5× |
| P/S | 1.17×below usual | 4.22× | — |
| EV/EBITDA | 7.5×below usual | 17.2× | — |
| P/B | 0.9×below usual | 1.9× | — |
- "Its usual" is the middle of its own last 5 fiscal years.
P/E: the share price divided by one year of profit per share — roughly how many years of today's profit the price pays for. A company that loses money has no P/E.
P/S: the company's total market value divided by one year of revenue. Used when there is no profit to measure.
EV/EBITDA: the price of the whole company (its shares plus its debt, minus its cash) divided by one year of operating profit before interest, tax and write-downs.
P/B: the share price divided by the book value per share — what the company owns minus what it owes, as its accounts record it. When book value is tiny, P/B swings wildly and says little.
What do the analysts who cover it publish?
The analysts' average 12-month price target is $44.36 (from $37 to $54) — 25% above the Tue 27 Oct close price. That is their published opinion, not Orin's.
$44.36
$37 – $54 · +25% against the last close
- 7 buy or overweight
- 8 hold
- 0 underweight or sell
Price target: the share price an analyst publishes for about 12 months ahead. It is the opinion of the firm that wrote it; the average is across the firms that cover the company.
Overweight / underweight: analysts' rating words: overweight means the firm expects the stock to do better than the others it covers, underweight worse. Their words, not Orin's.
How is it priced next to the companies it is compared to?
Priced at 4.4× its last 12 months of profit; the middle P/E of the 3 companies it is compared to that made a profit is 18.3×.
| Company | Market value | P/E | EV/EBITDA | Gross margin | Net margin | ROE |
|---|---|---|---|---|---|---|
| FISFidelity National Information Services, Inc. | $15B | 4.4× | 7.5× | 35.8% | 26.8% | 22% |
| BRBroadridge Financial Solutions, Inc. | $20B | 18.3× | 11.6× | 31.8% | 15.0% | 40% |
| FISVFiserv, Inc. | $25B | 9.1× | 7.0× | 47.2% | 13.4% | 11% |
| GPNGlobal Payments Inc. | $25B | lost money | 10.9× | 61.5% | −11.4% | −6% |
| JKHYJack Henry & Associates, Inc. | $11B | 22.7× | 12.9× | 43.6% | 19.8% | 23% |
- GPN: lost money over the last 12 months, so no P/E.
- The list of companies is the data vendor's choice, so it can include a company a person would not have picked.
Market value: the share price times the number of shares — what the whole company is priced at.
P/E: the share price divided by one year of profit per share — roughly how many years of today's profit the price pays for. A company that loses money has no P/E.
EV/EBITDA: the price of the whole company (its shares plus its debt, minus its cash) divided by one year of operating profit before interest, tax and write-downs.
Gross margin: the share of each $1 of sales left after the direct cost of making what was sold.
Net margin: the share of each $1 of sales kept as profit after every cost. Below zero, the company lost money.
ROE: return on equity: one year of profit as a share of the shareholders' money in the business (its book value).
Is it priced high or low compared with its own past?
Priced at 4.4× its last 12 months of profit (Thu 5 Nov close). It has no full fiscal year on file since its history starts, so there is nothing of its own to compare with.
- Now4.4×
P/E: the share price divided by one year of profit per share — roughly how many years of today's profit the price pays for. A company that loses money has no P/E.
Fiscal year (FY): the company's own 12-month accounting year, which need not match the calendar year.
How has its sector been priced?
Technology companies on the NYSE were priced at a typical 39.5× their yearly profit (Tue 27 Oct close).
- Now39.5×
- Each year is the middle of that calendar year's daily sector P/E; "Now" is the Tue 27 Oct close figure, the same one in the table above.
Sector P/E: the middle P/E of the companies in the same sector on the same stock exchange, as the data vendor works it out each day.
What does a cash-flow model say a share is worth?
A standard cash-flow model puts it at $90 a share — 153% above the $35.63 price it was computed against (27 Oct).
| Model | Value a share | Against the price then |
|---|---|---|
| Standard | $90 | 153% above $35.63 |
| Levered | $137 | 284% above $35.63 |
Discounted cash flow: a model's estimate of what the company is worth today, from the cash it is forecast to make in future years. Small changes in the forecast move it a lot, and it says little about a company that loses money.
Standard / levered: two versions of the cash-flow model: the standard one counts the cash before the company pays its lenders, the levered one after.