Fidelity National Financial (FNF) financial statements
Fidelity National Financial reported revenue of $14.4B in fiscal 2025, up 7.9% a year over 9 years.
Net income was $602M and the operating margin 9.7%, against 13.2% in 2016.
Free cash flow was $5.7B, and the company returned $546M in dividends and $251M in net buybacks.
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Fidelity National Financial's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.3B | $7.7B | $7.6B | $8.5B | $10.8B | $15.7B | $11.6B | $11.8B | $13.7B | $14.4B |
| Operating income | $955M | $864M | $750M | $1.4B | $1.8B | $3.6B | $1.7B | $693M | $1.7B | $1.4B |
| Interest expense | $64M | $48M | $43M | $47M | $90M | $114M | $115M | $174M | $209M | — |
| Pre-tax income | $955M | $864M | $750M | $1.4B | $1.8B | $3.6B | $1.7B | $693M | $1.7B | $1.4B |
| Income tax | $347M | $235M | $120M | $308M | $322M | $813M | $439M | $192M | $367M | $753M |
| Net income | $650M | $771M | $628M | $1.1B | $1.4B | $2.8B | $1.3B | $517M | $1.3B | $602M |
| EPS (diluted) | — | — | $2.26 | $3.83 | $4.99 | $9.75 | $4.67 | $1.91 | $4.65 | $2.21 |
| Diluted shares | — | — | 278M | 277M | 286M | 287M | 277M | 271M | 273M | 272M |
| Operating margin | 13.2% | 11.3% | 9.9% | 16.2% | 16.6% | 22.7% | 15.0% | 5.9% | 12.7% | 9.7% |
| Net margin | 9.0% | 10.1% | 8.3% | 12.5% | 13.2% | 17.9% | 11.2% | 4.4% | 9.3% | 4.2% |
Balance sheet
Fiscal years, from Fidelity National Financial's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $1.0B | $1.1B | $1.3B | $1.4B | $2.7B | $4.4B | $2.3B | $2.8B | $3.5B | $2.6B |
| Receivables | $267M | $280M | — | — | — | — | — | — | — | — |
| Property, plant and equipment | $192M | $193M | $164M | $176M | $180M | $185M | $179M | $168M | $173M | $189M |
| Goodwill | $2.6B | $2.7B | $2.7B | $2.7B | $4.5B | $4.5B | $4.6B | $4.8B | $5.3B | $5.3B |
| Total assets | $14.5B | $9.2B | $9.3B | $10.7B | $50.5B | $61.3B | $65.1B | $80.6B | $95.3B | $109.0B |
| Total liabilities | $7.3B | $4.3B | $4.3B | $5.0B | $42.1B | $51.2B | $58.6B | $73.2B | $86.7B | $100.0B |
| Shareholders' equity | $6.0B | $4.4B | $4.6B | $5.4B | $8.4B | $9.4B | $6.1B | $6.9B | $7.8B | $7.4B |
| Net debt | -$1.0B | -$1.1B | -$1.3B | -$1.4B | -$2.7B | -$4.4B | -$2.3B | -$2.8B | -$3.5B | -$2.6B |
Cash flow
Fiscal years, from Fidelity National Financial's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.2B | $737M | $943M | $1.1B | $1.6B | $4.1B | $4.4B | $6.5B | $6.8B | $5.8B |
| Capital spending | $290M | $149M | $83M | $96M | $110M | $131M | $138M | $132M | $146M | $147M |
| Free cash flow | $872M | $588M | $860M | $1.0B | $1.5B | $4.0B | $4.2B | $6.3B | $6.7B | $5.7B |
| Stock-based compensation | $58M | $44M | $31M | $38M | $39M | $42M | $49M | $60M | $82M | $88M |
| Dividends paid | $239M | $278M | $328M | $344M | $389M | $446M | $489M | $500M | $532M | $546M |
| Share buybacks (net) | -$276M | -$23M | -$20M | -$86M | -$236M | -$463M | -$553M | -$6M | $0 | -$251M |
| Net borrowing | -$68M | -$211M | $72M | $0 | -$1.0B | $0 | -$400M | $0 | -$250M | — |
| Free cash flow margin | 12.0% | 7.7% | 11.3% | 12.1% | 13.6% | 25.3% | 36.5% | 54.0% | 48.7% | 39.3% |
| Dividends per share | — | — | $1.18 | $1.24 | $1.36 | $1.55 | $1.77 | $1.85 | $1.95 | $2.01 |
Questions
What was Fidelity National Financial's revenue in 2025?
$14.4B in fiscal 2025, from its 10-K filing.
How much free cash flow does Fidelity National Financial generate?
$5.7B in fiscal 2025 (operating cash flow minus capital spending).
From Fidelity National Financial's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.