Fidelity National Information Services (FIS) Q4 2025 earnings summary

Executive summary

• Achieved strong full-year 2025 results, exceeding original outlook for adjusted revenue growth, EBITDA, and EPS, and positioning for robust 2026 growth.

• Completed full divestiture of merchant business and acquired Total Issuing Solutions, transforming the strategic and financial profile.

• Demonstrated robust free cash flow and disciplined capital allocation, including $2.1 billion returned to shareholders and a 10% dividend increase.

• Focused on innovation, AI, and data-driven solutions, leveraging proprietary datasets and deep client relationships.

Financial highlights

• FY 2025 adjusted revenue grew 5.8% to $10.7 billion; Q4 adjusted revenue up 7.4% to $2.8 billion.

• FY 2025 adjusted EBITDA was $4.3 billion (40.6% margin), up 4.7% year-over-year; adjusted EPS was $5.75, up 10.2%.

• Free cash flow for FY 2025 reached $2.2 billion, up 18%-19% year-over-year, with 88% conversion.

• Capital return totaled $2.1 billion through dividends and share repurchases.

Outlook and guidance

• FY 2026 adjusted revenue outlook: $13.77B–$13.85B, 5.1%-5.7% pro forma growth; adjusted EBITDA expected at $5.8B–$5.86B (42.1%-42.3% margin), up 7.2%-8.4%.

• Adjusted EPS guidance: $6.22–$6.32, up 8%-10%; free cash flow projected at $2.05B–$2.15B, up 27%-33%.

• Targeting free cash flow of over $3 billion by 2028, implying a 25% CAGR.

• Q1 2026 revenue guidance: $3.27–$3.29 billion; adjusted EBITDA: $1.275–$1.29 billion; adjusted EPS: $1.26–$1.30.