FNF

MKT CAP:$14B

Fidelity National Financial, Inc.

Market Cap

$14B

Financial Services·Insurance - Specialty·🇺🇸 United States·NYSE

Financials·Insurance·🇺🇸·NYSE

Stock Price

$52.33-$1.95 (-3.59%)

Apr 24, 2026

Company Details

Fidelity National Financial, Inc., together with its subsidiaries, provides various insurance products in the United States. The company operates through Title, F&G, and Corporate and Other segments. It offers title insurance, escrow, and o...

CEO

Michael Joseph Nolan

IPO Date

Oct 14, 2005

Website

www.fnf.com

Key Metrics TTM

Revenue

$12.9B

— YoY

Net Income

$672M

EPS (Diluted)

$2.40

Free Cash Flow

$4.9B

Revenue / Share

$47.61

Gross Margin

75.3%

Operating Margin

12.3%

Net Margin

5.2%

FCF Margin

37.8%

P/S

1.1x

P/E

21.1x

Earnings Reports

Q1 2026

May 6, 2026

PENDING

FY 2025

Feb 26, 2026

$14.5BEPS $2.21

Q4 2025

Feb 26, 2026

$4.1BEPS -$0.43

Q1 2025

May 8, 2025

$2.7BEPS $0.30

Q2 2024

Aug 7, 2024

$3.1BEPS $1.12

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 18	$2.1B	$1.5B	$287M
Q1 19	$1.7B	$1.3B	$264M
Q1 22	$3.1B	$1.9B	$556M
Q2 24	$3.1B	$2.4B	$459M
Q1 25	$2.7B	$1.5B	$111M
Q4 25	$4.1B	$4.0B	$450M

Valuation

Quarter	P/S	P/E
Q3 18	—	—
Q1 19	—	—
Q1 22	—	—
Q2 24	1.4x	12.4x
Q1 25	1.4x	14.3x
Q4 25	1.1x	21.1x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 18	$321M	$304M
Q1 19	-$4M	-$26M
Q1 22	$667M	$624M
Q2 24	$1.4B	$1.3B
Q1 25	$1.1B	$1.1B
Q4 25	$1.9B	$1.8B

Capital Expenditures

Quarter	CapEx
Q3 18	$17M
Q1 19	$22M
Q1 22	$43M
Q2 24	$41M
Q1 25	$37M
Q4 25	$34M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 25	+28.2%	+42.5%
Q4 25	+136.2%	+148.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 18	$7M	0.3%
Q1 19	$9M	0.5%
Q1 22	$13M	0.4%
Q2 24	$17M	0.6%
Q1 25	$21M	0.8%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A
Q3 18	$654M
Q1 19	$592M
Q1 22	$823M
Q2 24	$779M
Q1 25	$770M
Q4 25	$901M

Revenue Segments

Quarter	Corporate And Reconciling Items	Title Subsegment	Corporate and Other	F&G Segment	Title Segment
Q1 19	$59M	$1.7B	—	—	—
Q1 22	—	—	$34M	$748M	$2.4B

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$2.3B	$33.2B	$35.5B
Q2 22	$1.8B	$33.0B	$34.9B
Q3 22	$2.1B	$32.7B	$34.8B
Q4 22	$2.0B	$19.2B	$21.2B
Q1 23	$2.5B	$37.5B	$39.9B
Q2 23	$2.7B	$20.4B	$23.1B
Q3 23	$2.8B	$21.1B	$23.9B
Q4 23	$2.5B	$24.1B	$26.6B
Q1 24	$3.3B	$23.7B	$27.0B
Q2 24	$4.6B	$24.7B	$29.2B
Q3 24	$5.3B	$27.2B	$32.5B
Q4 24	$3.4B	$27.6B	$31.0B
Q1 25	$4.3B	$26.3B	$30.6B
Q2 25	$2.9B	$28.9B	$31.8B
Q3 25	$3.2B	$29.1B	$32.4B
Q4 25	$2.6B	$54.6B	$57.2B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 18	278M	—	—
Q1 19	277M	-0.4%	—
Q1 22	283M	+2.2%	—
Q2 24	273M	-3.5%	—
Q1 25	273M	0.0%	-1.8%
Q4 25	270M	-1.1%	-2.5%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 18	$85.6K	24K
Q1 19	$73.5K	23K
Q1 22	$108.0K	28K
Q2 24	$137.3K	22K
Q1 25	$113.6K	24K
Q4 25	$165.8K	25K

Revenue / Employee