Fidelity National Financial
FNF · NYSETitle Insurance · Fiscal year ends Dec 31
Fidelity National Financial reported revenue of $2.1B in the fiscal year ended Dec 2025, up 9.1% from the year before. Net income was $602M. Net debt was $1.8B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $2.8B | $2.2B | $1.9B | $1.9B | $2.1B |
| Interest expense | $114M | $115M | $174M | $209M | – |
| Pre-tax income | $3.6B | $1.7B | $693M | $1.7B | $1.4B |
| Income tax | $813M | $439M | $192M | $367M | $753M |
| Net income | $2.8B | $1.3B | $517M | $1.3B | $602M |
| Diluted EPS | 9.75 | 4.67 | 1.91 | 4.65 | 2.21 |
| Diluted shares | 287M | 277M | 271M | 273M | 272M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $4.4B | $2.3B | $2.8B | $3.5B | $2.6B |
| Net PP&E | $185M | $179M | $168M | $173M | $189M |
| Goodwill | $4.5B | $4.6B | $4.8B | $5.3B | $5.3B |
| Total assets | $61.3B | $65.1B | $80.6B | $95.3B | $109B |
| Deferred revenue | $144M | $166M | $91M | $92M | $95M |
| Long-term debt | $3.1B | $3.2B | $3.9B | $4.3B | $4.4B |
| Total liabilities | $51.2B | $58.6B | $73.2B | $86.7B | $100B |
| Shareholders' equity | $9.4B | $6.1B | $6.9B | $7.8B | $7.4B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $4.1B | $4.4B | $6.5B | $6.8B | $5.8B |
| Depreciation & amortisation | $432M | $491M | $593M | $739M | $844M |
| Stock-based compensation | $42M | $49M | $60M | $82M | $88M |
| Acquisitions | $0 | $0 | – | – | – |
| Share buybacks | $463M | $553M | $6M | $0 | $251M |
| Dividends paid | $446M | $489M | $500M | $532M | $546M |
| Dividend per share | 1.56 | 1.77 | 1.83 | 1.94 | 2.02 |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | −20.9% | −16.5% | 3.3% | 9.1% |
| EPS growth (YoY) | – | −52.1% | −59.1% | 143.5% | −52.5% |
| Net margin | 99.1% | 58.0% | 27.8% | 66.0% | 28.7% |
| Return on equityBlank when equity is negative | 29.7% | 21.2% | 7.5% | 16.4% | 8.1% |
| Cash conversion (CFO ÷ net income) | 1.46x | 3.37x | 12.5x | 5.37x | 9.68x |
| Debt ÷ equity | 0.33x | 0.53x | 0.56x | 0.56x | 0.59x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | −$1.3B | $952M | $1.1B | $842M | $1.8B |
Recent filings
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.