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FNFFidelity National Financial, Inc.
$42.50$11.4B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
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Income StatementBalance SheetCash FlowRatios & Margins
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FNF logo

Fidelity National Financial, Inc.

FNF
NYSE · Specialty Insurance
$42.50
At close - Sep 18, 4:00 PM EDT - USD
Market Cap$11.44B
P/E19.2x
52W High$60.74
Volume6.01M
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q2

Float Income Anchors Earnings Amid Title Reserve Volatility

FNF's earnings profile appears to be transitioning toward greater stability, driven by a robust investment income engine fueled by a growing $100B+ float, which is providing a critical buffer against core title insurance volatility. However, the company's fund...

GrowthAccelerating
ProfitabilityModerate
ValuationAttractive
TechnicalsWeak
Explore valuation models
MARKET ACTION

FNF price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

4/12 Beats

EPS beat 4 of last 12 quarters

02

Valuation risk

+57% Peers

P/E is 57% above peer median

03

Market leadership

RS 24 · Lag

Laggard (Underperforming 76% of market)

04

Weak Trend

Below 200DMA

Price < 200DMA

Next CatalystConfirmed earnings · Nov 5
01

Build the investment case

Start with the evidence for owning the stock and the risks that can break the thesis.

EXECUTIVE THESIS

The Investment Case

Full Analysis
Fundamental Trajectory

Revenue growth accelerated to 13.3% year-over-year in 2026Q2, yet underwriting profitability remains volatile, with the combined ratio swinging from a concerning 95.8% in 2025Q1 to a profitable 85.3% most recently.

Analyst Consensus+31.8% target
Buy(17 analysts)
14 Buy3 Hold0 Sell

The Bull Case

Upside Catalysts

Diversification and Growth in F&G Segment

The F&G Annuities & Life segment is demonstrating strong growth, with assets under management (AUM) reaching a record level of $63 billion at the end of 2025. This segment provides a robust, counter-cyclical cash flow that helps mitigate the cyclicality of the housing market.

Resilient Core Title Operations

While residential mortgage activity remains sluggish, commercial title volumes are rebounding, supported by growth in data center construction. FNF's core title operations are resilient, with technology and AI investments aiding margin expansion despite a challenging housing market.

Financial Strength and Shareholder Returns

FNF maintains ample liquidity with significant cash and short-term investments, alongside a conservative investment portfolio. The company is committed to shareholder-friendly capital allocation, including ongoing share buybacks and a secure dividend yield of around 4.4%.

The Bear Case

Key Downside Risks

Market performance

Price History →

Trailing total returns as of 9/20/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
FNF-18.83%
S&P 500 (^GSPC)+11.49%
1-Year Return
FNF-24.66%
S&P 500 (^GSPC)+15.01%
3-Year Return
FNF+13.26%
S&P 500 (^GSPC)+69.95%
5-Year Return
FNF+20.66%
S&P 500 (^GSPC)+78.35%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/EMedian
19.2x
Forward P/EExpansion
8.3x
EV/EBITDA40th %ile
6.1x
FCF YieldCash Flow
55.7%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
19.2x
12.1x
60th· Fair
EV/EBITDA
6.1x
6.7x
40th· Fair
Price/FCF
1.8x
2.3x
0th· Low
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$43.24+1.7%
Base (Fair)$75.49+77.6%
Bull$117.89+177.4%
$43.24 Bear$75.49 Base$117.89 Bull
Current Market Price: $42.50
Trades at a 43.7% discount to Base DCF ($75.49)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue
$14.51B+8.6% YoY
Net income
$602M-52.6% YoY
Free cash flow
$6.38B-4.4% YoY
Operating margin
9.9%-3.2 pts YoY
ROIC (TTM)10.1%
Avg ROIC 5Y-
ROE (TTM)6.9%
Piotroski Score6 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate4/12 (33%)
Revenue Beat Rate8/12 (67%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Aug 5, 2026
$1.39+6.1%
vs $1.31
$4.1B+6.9%
vs $3.8B
Q2 2026
May 6, 2026
$0.93-14.7%
vs $1.09
$3.2B-10.7%
vs $3.6B
Q1 2026
Feb 19, 2026
$1.41-6.6%
vs $1.51
$4.1B+10.7%
vs $3.7B
Q4 2025
Nov 6, 2025
$1.57+10.6%
vs $1.42
$3.9B+10.4%
vs $3.6B
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

5 Stories
Defense World·Sep 11, 2026
Tiptree Financial (NASDAQ:TIPT) and Fidelity National Financial (NYSE:FNF) Head to Head Review

Fidelity National Financial (NYSE: FNF - Get Free Report) and Tiptree Financial (NASDAQ: TIPT - Get Free Report) are both finance companies, but which is the better stock? We will compare the two businesses based on the strength of their dividends, analyst recommendations, valuation, earnings, risk, institutional ownership and profitability. Volatility and Risk Fidelity National Financial has

PRNewsWire·Sep 8, 2026
Fidelity National Financial CEO Mike Nolan and CFO Tony Park to Speak at the 2026 Barclays Global Financial Services Conference

JACKSONVILLE, Fla., Sept. 8, 2026 /PRNewswire/ -- Fidelity National Financial, Inc. (NYSE: FNF) (FNF), today announced that Mike Nolan, Chief Executive Officer, and Tony Park, Chief Financial Officer, will participate in a fireside chat at the Barclays Global Financial Services Conference on Tuesday, September 15, 2026 at approximately 2:45 pm Eastern Time.

Defense World·Sep 8, 2026
Nykredit A S Acquires Shares of 43,733 Fidelity National Financial, Inc. $FNF

Nykredit A S bought a new position in Fidelity National Financial, Inc. (NYSE: FNF) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 43,733 shares of the financial services provider's stock, valued at approximately $2,062,000. Several other institutional investors have also added

Seeking Alpha·Aug 31, 2026
Fidelity National Financial: A Quality Business At An Attractive Price

Fidelity National Financial remains a 'Buy,' despite a 20% share price decline, due to resilient margins, a secure dividend, and an attractive valuation. Elevated interest rates suppress refinancing and housing activity, but FNF's 33% market share and cost advantage enable modest outperformance versus industry trends. Commercial title revenue is rebounding, with 2026 expected to rival record years, offsetting residential softness and supporting incremental growth.

Filtered for Fidelity National Financial, Inc.More Headlines
04

Compare before deciding

Benchmark FNF against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Fidelity National Financial, Inc. (FNF)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
FNF logoFNFFidelity National Financial, Inc.Current
$42.50$11.44B19.238.61%4.15%6.88%4.72%
FAF logoFAFFirst American Financial Corporation
$69.59$7.11B11.6021.64%17.81%13.56%—
STC logoSTCStewart Information Services Corporation
$63.16$1.92B15.6317.32%4.12%8.36%—
ITIC logoITICInvestors Title Company
$289.00$545.63M15.565.6%13.8%14.63%—
RDN logoRDNRadian Group Inc.
$35.01$4.66B8.46-3.36%32.45%11.26%—
ESNT logoESNTEssent Group Ltd.
$67.19$6.19B9.74-0.49%51.43%11.91%—

Compare FNF vs Peers

Fidelity National Financial, Inc. (FNF) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs FAF

Most directly comparable listed peer for FNF.

Scale Benchmark

vs ICE

Larger-name benchmark to compare FNF against a more recognizable public peer.

Peer Set

Compare Top 5

vs FAF, STC, ITIC, RDN

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

FNF SEC Filings & Documents

Fidelity National Financial, Inc. (FNF) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Aug 5, 2026·SEC

Material company update

Jun 11, 2026·SEC

Material company update

May 12, 2026·SEC

10-K Annual Reports

3
FY 2026

Feb 26, 2026·SEC

FY 2025

Feb 28, 2025·SEC

FY 2024

Feb 29, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

Aug 6, 2026·SEC

FY 2026

May 8, 2026·SEC

FY 2025

Nov 10, 2025·SEC

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FNF Frequently Asked Questions

Fidelity National Financial, Inc. (FNF) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
How fast is Fidelity National Financial, Inc. growing?

Fidelity National Financial, Inc. (FNF) grew revenue by 8.6% over the past year. This is steady growth.

Is FNF profitable?

Yes, Fidelity National Financial, Inc. (FNF) is profitable, generating $772.0M in net income for fiscal year 2025 (4.2% net margin).

Dividend & Returns
Does FNF pay dividends?

Yes, Fidelity National Financial, Inc. (FNF) pays a dividend with a yield of 4.72%. This makes it attractive for income-focused investors.

What is FNF's return on equity?

Fidelity National Financial, Inc. (FNF) has a return on equity (ROE) of 6.9%. This is below average, suggesting room for improvement.

Industry Metrics
What is Fidelity National Financial, Inc.'s combined ratio?

Fidelity National Financial, Inc. (FNF) has a combined ratio of 90.1%. A ratio below 100% indicates underwriting profitability.

What if you invested $1,000 in FNF back in 2004?

Total return calculator · dividends reinvested · 22+ years of data

See returns →