ACT vs FNF: Enact and Fidelity National Financial compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Fidelity National Financial is the larger company, worth $10.5B, about 1.6 times Enact.
- Fidelity National Financial grew revenue faster over the last year (+11.4% vs +4.1%).
- Enact keeps more of each dollar of revenue as operating profit (69.1% vs 11.3%).
- On earnings, Enact is the cheaper stock (10.0x vs 13.9x).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | ACT | FNF |
|---|---|---|
| Market cap | $6.5B | $10.5B |
| Share price | $45.97 | $38.80 |
| Revenue (last fiscal year) | $1.2B | $14.4B |
| Free cash flow (last fiscal year) | — | $5.7B |
| Revenue growth, last year | +4.1% | +11.4% |
| Revenue growth per year, last 5 fiscal years | +2.5% | -2.0% |
| Operating margin | 69.1% | 11.3% |
| Net margin | 54.5% | 5.0% |
| Return on equity | 12.7% | 10.4% |
| P/E (trailing) | 10.0x | 13.9x |
| Price / free cash flow | 8.93x | 1.65x |
| EV / EBITDA | — | 5.30x |
| FCF growth the price implies | — | -31.3% |
| Dividend yield | 1.8% | 5.2% |
| Debt / equity | 0.29x | 14.2x |
| Fundamental grade | B | C |
| Superinvestors holding it | 2 | 6 |
| Insider purchases, last 12 months | 0 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Enact
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $1.1B | — | 62.2% |
| 2022 | $1.1B | — | 82.0% |
| 2023 | $1.2B | — | 73.8% |
| 2024 | $1.2B | — | 73.1% |
| 2025 | $1.2B | — | 69.5% |
Fidelity National Financial
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $15.7B | $4.0B | 22.7% |
| 2022 | $11.6B | $4.2B | 15.0% |
| 2023 | $11.8B | $6.3B | 5.9% |
| 2024 | $13.7B | $6.7B | 12.7% |
| 2025 | $14.4B | $5.7B | 9.7% |
Where the revenue comes from
Enact
No segment breakdown reported.
Fidelity National Financial · by segments, 2025
Title$8.5B58%
F&G$5.7B39%
Corporate and Other$341M2%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open ACT in InvestinglyQuestions
Which is bigger, Enact or Fidelity National Financial?
Fidelity National Financial (FNF), at $10.5B against $6.5B.
Is ACT or FNF cheaper?
By trailing P/E, Enact (10.0x) is cheaper than Fidelity National Financial (13.9x). A lower multiple can also mean the market expects less growth.
Which grows faster, ACT or FNF?
Fidelity National Financial: revenue grew +11.4% over the last year, against +4.1%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.