Fidelity National Information Services (FIS) Company Report

Q4 revenue grew 7.4% to $2.8 billion, EBITDA rose 7.3%, and adjusted EPS increased 20%, while full-year 2025 revenue was $10.7 billion (+5.8%) and free cash flow was $1.6 billion (+19%).
Recurring annual contract value (ACV) sales expanded 20% year-over-year in Q4, with banking solutions ACV up 13% and capital markets ACV up 34%, driven by strong demand in payments, digital, and lending.
Completed the acquisition of Total Issuing Solutions, extending relationships with 14 of the top 25 U.S. large financial institutions and targeting $45 million of revenue synergies and $125 million of expense synergies over three years.
Provided 2026 guidance of 5.5%–6.5% pro forma revenue growth, 155–175 bps of EBITDA margin expansion, and 27%–33% free cash flow growth, aiming to exceed $3 billion of free cash flow by 2028.

4 days ago

Transcript

Fidelity National Information Services reports Q4 2025 results

FIS

Earnings

Guidance Update

M&A

FIS delivered 5.8% adjusted revenue growth and over 10% adjusted EPS growth to $5.75 in 2025, generating robust free cash flow and returning $1.3 billion to shareholders.
Banking adjusted revenue rose 5.6% (with recurring revenue up 6%) and capital markets grew 6.3% (recurring +5.8%) in 2025.
FIS completed the divestiture of its merchant business and acquired Total Issuing Solutions, enhancing its credit-issuing capabilities and targeting doubling free cash flow to over $3 billion by 2028.
For 2026, FIS projects 30–31% adjusted revenue growth (pro forma 5.1–5.7%), 34–35% EBITDA growth, 8–10% adjusted EPS growth to $6.22–6.32, and over $2 billion free cash flow.

4 days ago

Transcript

FIS reports Q4 2025 results and 2026 outlook

FIS

Earnings

Guidance Update

M&A

FIS delivered FY 2025 5.8% adjusted revenue growth and >10% adjusted EPS growth to $5.75, generating robust free cash flow and returning $1.3 billion to shareholders through buybacks.
Banking and capital markets segments posted 5.6% and 6.3% adjusted revenue growth in 2025, respectively.
Q4 recurring ACV sales rose 20% year-over-year, with digital, payments, and lending ACV up 123%, 70%, and 62%, respectively.
Completed acquisition of Total Issuing Solutions, providing over 1 billion accounts and 73 billion annual transactions, and targeting $45 million revenue and $125 million expense synergies over three years.
2026 guidance: adjusted revenue growth of 30–31%, EBITDA growth of 34–35%, adjusted EPS of $6.22–$6.32 (+8–10%), and free cash flow exceeding $2 billion (+27–33%).

4 days ago

Transcript

Fidelity National Information Services reports Q4 2025 results

FIS

Earnings

Guidance Update

Q4 2025 total revenue of $2.8 B (+7.4% adj. YoY); adj. EBITDA of $1.2 B (42.5% margin); adjusted EPS of $1.68 (+20.0% YoY).
FY 2025 total revenue of $10.7 B (+5.8% adj. YoY); adjusted EPS of $5.75 (+10.2% YoY); generated $2.2 B of adjusted free cash flow (88% conversion).
FY 2026 outlook: revenue of $13.77 B–$13.85 B (30%–31% adj. growth), adjusted EPS of $6.22–$6.32 (8%–10% growth), and free cash flow of $2.05 B–$2.15 B (27%–33% growth).

4 days ago

Presentation

FIS completes Issuer Solutions acquisition and provides pro forma Q4 2025 metrics

FIS

M&A

On January 9, 2026, FIS acquired the Issuer Solutions business from Global Payments for a net $7.7 billion cash payment and simultaneously sold its remaining Worldpay equity interests.
The Issuer Solutions business is now consolidated within the Banking Solutions segment, triggering a reorganization of FIS’s reportable segments.
Pro forma combined revenue for FY 2025 was $13,186 million, with an Adjusted Combined EBITDA of $5,431 million and an EBITDA margin of 41.2 %.
On a pro forma basis, FY 2024 combined revenue was $12,520 million, with Adjusted Combined EBITDA of $5,158 million and an EBITDA margin of 41.2 %.

4 days ago

8-K

FIS reports full-year 2025 results and 2026 outlook

FIS

Earnings

Guidance Update

M&A

FIS delivered $10.7 billion in full-year 2025 revenue (up 5% GAAP, 6% adjusted), with GAAP diluted EPS of $0.73 and adjusted EPS of $5.75, a 10% increase year-over-year.
Net cash provided by operating activities was $2.6 billion; free cash flow rose 19% to $1.6 billion and adjusted free cash flow increased 18% to $2.2 billion.
The company returned $2.1 billion of capital to shareholders in 2025, including $1.3 billion of share repurchases.
On January 9, 2026, FIS closed the acquisition of Total Issuing™ Solutions and sold its 45% Worldpay minority stake.
For 2026, FIS projects 30–31% adjusted revenue growth, 34–35% adjusted EBITDA growth, 8–10% adjusted EPS growth and 27–33% free cash flow growth (pro forma revenue growth of 5.1–5.7% and pro forma EBITDA growth of 7.2–8.4%).

4 days ago

8-K

FIS reports full-year 2025 results and introduces 2026 outlook

FIS

Earnings

Guidance Update

M&A

Full-year 2025 revenue rose 5% GAAP and 6% adjusted to $10.7 billion; GAAP diluted EPS was $0.73, and adjusted EPS was $5.75, up 10% year-over-year
Net cash from operating activities was $2.6 billion; free cash flow grew 19%, and adjusted free cash flow grew 18% in 2025
Returned $2.1 billion of capital to shareholders in 2025, including $1.3 billion of share repurchases
On January 9, 2026, FIS closed the acquisition of Total Issuing™ Solutions and sold its remaining stake in Worldpay
For 2026, FIS projects adjusted revenue growth of 30–31%, adjusted EBITDA growth of 34–35%, and adjusted EPS growth of 8–10%; on a pro forma basis, revenue and adjusted EBITDA are expected to grow 5.1–5.7% and 7.2–8.4%, respectively

4 days ago

Press Release

Fiserv draws activist stake from Jana Partners

FIS

Guidance Update

Board Change

Activist investor Jana Partners has built a stake in Fiserv and is pressing management to accelerate core banking growth and consider exiting nonstrategic operations.
Fiserv shares have tumbled roughly two-thirds over the past year after CEO Mike Lyons cut growth guidance, erasing tens of billions in market value.
The company recently beat Q4 adjusted EPS expectations at $1.99 vs. $1.90 and issued full-year adjusted EPS guidance of $8.00–$8.30 versus street estimates of $8.19.
Jana Partners has signaled support for CEO Mike Lyons’ execution plan and potential board refresh rather than mounting an overt challenge to current management.

Feb 17, 2026, 12:19 PM

Barron's

FIS completes acquisition of Global Payments Issuer Solutions and sale of Worldpay stake

FIS

M&A

FIS acquired Global Payments’ Issuer Solutions business for an enterprise value of $13.5 billion (net purchase price of $12 billion including $1.5 billion NPV of tax assets) on January 9, 2026.
Concurrently sold its remaining 45% minority interest in Worldpay to Global Payments, fully monetizing its stake.
The acquired Issuer Solutions business processes over 40 billion transactions annually, with a client presence in more than 75 countries and partnerships with 150+ financial institutions and corporates.
Transaction is expected to generate an additional $500 million of incremental Adjusted Free Cash Flow in 2026 and $700 million by 2028.

Jan 12, 2026, 12:27 PM

8-K

FIS launches agentic commerce offering

FIS

Product Launch

FIS unveils the first industry solution enabling banks to conduct agentic commerce—AI-mediated transactions—following its acquisition of the Total Issuing™ Solutions portfolio and in partnership with Mastercard and Visa.
In agentic commerce, AI acts as a personal assistant to source, negotiate and complete purchases using preapproved payment methods within existing authorization, authentication and dispute frameworks.
The offering, expected by end of Q1 2026, equips issuers with “Know Your Agent” data to enhance fraud protection, reduce chargebacks and improve approval rates for merchants.
Designed to help banks lead in AI-driven commerce, the solution delivers seamless customer experiences while maintaining security and compliance.

Jan 12, 2026, 12:02 PM

Press Release

Earnings Transcripts

Quarterly earnings call transcripts for Fidelity National Information Services.

Q4 2025

Feb 24, 2026

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Q3 2025

Nov 5, 2025

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Q2 2025

Aug 5, 2025

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View All Transcripts

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Fidelity National Information Services (FIS)

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