Reading the tape
NYSE: FNF
Fidelity National Financial, Inc.
Financial Services · Insurance - Specialty
Market Cap
$13.61B
52w High
$59.21
52w Low
$42.78
P/E
17.86
Volume
1.48M
Outstanding Shares
269.16M
Price vs Fundamentals
Why The Stock Is Moving
Likely multiple compressionModerate confidence
1Y Price: -15.33%Revenue (TTM): 15.84%FCF (TTM): -6.07%P/FCF: 24th pct
What changed
The stock fell 15.33% over the last year. Revenue grew 15.84% over the trailing twelve months. Operating margin moved from 11.92% to 12.03%. Free cash flow declined 6.07% over the trailing twelve months.
What the market seems to be pricing
Visible fundamentals weakened far less than the stock price, and the shares now sit around the 24th percentile of their historical P/FCF range. That looks more like a rerating of the multiple than a collapse in the business.
What would invalidate this read
This read changes if operating margin (currently 12.03%) continues to decline, or if revenue growth turns negative. The bull case requires the business to hold its current trajectory.
Company profile
Fidelity National Financial, Inc., together with its subsidiaries, provides various insurance products in the United States.
CEOMichael Joseph Nolan
SectorFinancial Services
IndustryInsurance - Specialty
Employees23,533
IPO dateOct 14, 2005
Valuation
Forward P/E—
EV/EBITDA6.83
Enterprise value$17.19B
Price / Book1.83
Stock splits
Dec 17, 2025↑ Forward
Every 1000 shares became 1037
Dec 1, 2022↑ Forward
Every 25 shares became 26
Oct 2, 2017↑ Forward
Every 200 shares became 277
Jul 1, 2014↑ Forward
Every 125 shares became 152
Profitability & growth
Standard profitability metrics can be misleading for financial/insurance companies. GAAP requires unrealized investment gains/losses in net income (affecting ROE), and margins are blended across diverse business segments.
Revenue growth20.64%
Gross margin74.15%▲85.48%vs FY2024
Operating margin12.03%▼24.31%vs FY2024
ROE8.11%▼50.49%vs FY2024
Analyst consensus
RatingBuy
Target price$67.00▲32.46%
14
Buy
3
Hold
0
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
Aug 5, 2026
Q3 FY26 · EPS est $1.41 · Revenue est $3.91B
View
Dividends
$2.04/shareQuarterlyDividend Achiever · 14yrAdequateFNF pays a dividend with a 4.04% declared yield, 14 consecutive years of growth, growing at 8.54% annually, covered 11.7× by free cash flow.
Declared Yield
4.04%
Annual Div / Share
$2.04
5yr CAGR
+8.54%
Doubles every ~8.5yr
Payout Ratio
72.18%
Adequate
Dividend Growth Rate
3yr CAGR
+4.82%
5yr CAGR
+8.54%
10yr CAGR
+13.35%
Dividend Safety
7/10Adequate
Dividend History
Annualized dividend cycles per share
YearAnnual DivYoY
2026$2.04+4.1%
2025$1.96+3.8%
2024$1.89+6.6%
2023$1.77+7.2%
2022$1.65+22.0%
2021$1.36+8.5%
2020$1.25+6.6%
Income Projection
Invest
$
Growth rate:
Reinvest dividends
Today
$40/yr
$3/mo
In 5 yrs
$61/yr+51%
$5/mo
In 10 yrs
$92/yr+127%
$8/mo
| Today | In 5 yrs | In 10 yrs |
|---|---|---|
$40/yr $3/mo | $61/yr+51% $5/mo | $92/yr+127% $8/mo |
Yield-on-cost grows from 4.04% → 9.16% over 10yr
Analysis
Dividend Strengths
Dividend Achiever
FNF has raised its dividend for 14 consecutive years — qualifying as a Dividend Achiever, demonstrating long-term commitment to shareholder income.
Well-covered by free cash flow
The dividend is covered 11.7× by free cash flow, indicating the company generates sufficient cash to sustain and potentially grow the payout without straining its finances.
Strong dividend growth rate
The 5-year CAGR of 8.54% meaningfully outpaces inflation, compounding real income growth for long-term holders.
Risks to Watch
No strong risk signal stands out from the latest period pair.