Revenue growth accelerated to 30.1% in 2026Q1, though operating margins remain inconsistent, fluctuating between 13.7% and 23.4% over the last ten quarters.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 |
|---|
| Sales/Revenue | 11.66B | 10.68B | 10.13B | 9.83B | 9.72B | 13.88B | 12.55B | 10.33B | 8.42B | 8.67B | 9.24B | 6.6B | 6.41B | 6.07B | 5.81B | 5.75B | 5.27B | 3.77B | 3.45B | 2.92B | 4.13B | 1.12B | 1.04B | 1.02B | 1.01B | 851.12M | 827.37M | 763.3M |
| Revenue Growth % | 14.4% | 5.43% | 3.01% | 1.15% | -29.96% | 10.56% | 21.47% | 22.68% | -2.83% | -6.2% | 40.1% | 2.84% | 5.65% | 4.53% | 1.08% | 9.04% | 39.79% | 9.39% | 17.97% | -29.32% | 269.93% | 7.47% | 2.37% | 0.74% | 18.43% | 2.87% | 8.39% | - |
| Cost of Goods Sold | 7.28B | 6.74B | 6.32B | 6.17B | 6.22B | 8.68B | 8.35B | 6.61B | 5.57B | 5.79B | 6.23B | 4.39B | 4.33B | 4.09B | 3.95B | 4B | 3.64B | 2.8B | 2.64B | 2.27B | 2.98B | 791.58M | 739.6M | 732.76M | 730.44M | 601.74M | 0 | 0 |
| COGS % of Revenue | - | 63.14% | 62.44% | 62.81% | 63.96% | 62.56% | 66.51% | 63.97% | 66.12% | 66.84% | 67.45% | 66.63% | 67.55% | 67.3% | 67.96% | 69.58% | 69.03% | 74.3% | 76.52% | 77.57% | 72.11% | 70.86% | 71.15% | 72.16% | 72.47% | 70.7% | - | - |
| Gross Profit | 4.38B | 3.94B | 3.8B | 3.66B | 3.5B | 5.2B | 4.2B | 3.72B | 2.85B | 2.87B | 3.01B | 2.2B | 2.08B | 1.99B | 1.86B | 1.75B | 1.63B | 968.9M | 809.1M | 655.2M | 1.15B | 325.56M | 299.91M | 282.7M | 277.53M | 249.38M | 827.37M | 763.3M |
| Gross Margin % | 37.59% | 36.86% | 37.56% | 37.19% | 36.04% | 37.44% | 33.49% | 36.03% | 33.88% | 33.16% | 32.55% | 33.37% | 32.45% | 32.7% | 32.04% | 30.42% | 30.97% | 25.7% | 23.48% | 22.43% | 27.89% | 29.14% | 28.85% | 27.84% | 27.53% | 29.3% | 100% | 100% |
| Gross Profit Growth % | - | 3.47% | 4.05% | 4.37% | -32.57% | 23.57% | 12.92% | 30.45% | -0.7% | -4.45% | 36.67% | 5.76% | 4.84% | 6.69% | 6.47% | 7.1% | 68.42% | 19.75% | 23.49% | -43.15% | 254% | 8.55% | 6.09% | 1.86% | 11.29% | -69.86% | 8.39% | - |
| Operating Expenses | 2.29B | 2.18B | 2.1B | 1.61B | 1.6B | 3.09B | 2.66B | 1.96B | 1.15B | 1.26B | 1.43B | 931M | 789M | 782.5M | 781.5M | 658.8M | 567.3M | 411.9M | 474.2M | 373.3M | 560.56M | 129.44M | 120.25M | 128.3M | 125.58M | 97.96M | 681.75M | 635.81M |
| OpEx % of Revenue | - | 20.39% | 20.69% | 16.42% | 16.47% | 22.29% | 21.18% | 19% | 13.59% | 14.58% | 15.46% | 14.11% | 12.3% | 12.89% | 13.46% | 11.47% | 10.77% | 10.93% | 13.76% | 12.78% | 13.56% | 11.59% | 11.57% | 12.63% | 12.46% | 11.51% | 82.4% | 83.3% |
| Selling, General & Admin | 2.29B | 2.26B | 2.19B | 1.61B | 1.6B | 3.09B | 2.66B | 1.96B | 1.15B | 1.26B | 1.43B | 931M | 789M | 782.5M | 781.5M | 658.8M | 567.3M | 411.9M | 389.4M | 302.9M | 454.98M | 129.44M | 120.25M | 128.3M | 113.35M | 97.96M | 0 | 0 |
| SG&A % of Revenue | - | 21.2% | 21.58% | 16.42% | 16.47% | 22.29% | 21.18% | 19% | 13.59% | 14.58% | 15.46% | 14.11% | 12.3% | 12.89% | 13.46% | 11.47% | 10.77% | 10.93% | 11.3% | 10.37% | 11.01% | 11.59% | 11.57% | 12.63% | 11.25% | 11.51% | - | - |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 84.8M | 70.4M | 105.58M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 2.46% | 2.41% | 2.55% | - | - | - | - | - | - | - |
| Other Operating Expenses | -1000K | -86M | -90M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 12.23M | 0 | 681.75M | 635.81M |
| Operating Income | 2.09B | 1.76B | 1.71B | 2.04B | 1.9B | 2.1B | 1.55B | 1.76B | 1.71B | 1.61B | 1.58B | 1.27B | 1.29B | 1.2B | 1.08B | 1.09B | 1.06B | 557M | 334.9M | 281.9M | 591.93M | 196.12M | 179.65M | 154.4M | 151.95M | 151.42M | 145.62M | 127.48M |
| Operating Margin % | 17.9% | 16.47% | 16.88% | 20.77% | 19.57% | 15.15% | 12.32% | 17.03% | 20.29% | 18.57% | 17.09% | 19.25% | 20.15% | 19.81% | 18.58% | 18.95% | 20.2% | 14.78% | 9.72% | 9.65% | 14.32% | 17.56% | 17.28% | 15.2% | 15.07% | 17.79% | 17.6% | 16.7% |
| Operating Income Growth % | - | 2.93% | -16.31% | 7.36% | -9.51% | 35.96% | -12.16% | 2.98% | 6.15% | 1.96% | 24.33% | -1.71% | 7.44% | 11.43% | -0.89% | 2.29% | 91.11% | 66.32% | 18.8% | -52.38% | 201.82% | 9.16% | 16.36% | 1.61% | 0.35% | 3.98% | 14.23% | - |
| EBITDA | 4.14B | 3.64B | 3.45B | 3.57B | 3.54B | 6.12B | 5.26B | 4.2B | 3.13B | 2.98B | 2.75B | 1.94B | 1.92B | 1.82B | 1.71B | 1.73B | 1.69B | 991M | 800.3M | 778.7M | 1.03B | 247.97M | 227.1M | 201.87M | 191M | 197.77M | 188.32M | 163.24M |
| EBITDA Margin % | 35.53% | 34.11% | 34.03% | 36.33% | 36.4% | 44.09% | 41.91% | 40.69% | 37.15% | 34.33% | 29.79% | 29.4% | 29.91% | 29.93% | 29.48% | 30.04% | 32.16% | 26.29% | 23.22% | 26.66% | 24.81% | 22.2% | 21.85% | 19.88% | 18.95% | 23.24% | 22.76% | 21.39% |
| EBITDA Growth % | 19.5% | 5.69% | -3.53% | 0.96% | -42.17% | 16.31% | 25.12% | 34.36% | 5.14% | 8.1% | 41.98% | 1.07% | 5.57% | 6.14% | -0.82% | 1.86% | 71% | 23.83% | 2.77% | -24.06% | 313.54% | 9.19% | 12.5% | 5.69% | -3.42% | 5.02% | 15.36% | - |
| D&A (Non-Cash Add-back) | 2.06B | 1.88B | 1.74B | 1.53B | 1.64B | 4.02B | 3.71B | 2.44B | 1.42B | 1.37B | 1.17B | 669M | 626.3M | 614.6M | 632.8M | 637.2M | 630.1M | 434M | 465.4M | 496.8M | 433.55M | 51.86M | 47.45M | 47.47M | 39.05M | 46.35M | 42.7M | 35.76M |
| EBIT | 1.93B | 1.02B | 1.65B | 1.38B | 1.24B | 1B | 605M | 800M | 1.42B | 1.33B | 1.3B | 1.23B | 1.22B | 1.02B | 1.05B | 988.4M | 754.5M | 200.6M | 342.7M | 574.2M | 596.45M | 187.39M | 180.86M | 154.4M | 151.95M | 151.42M | 827.37M | 127.48M |
| Net Interest Income | -91M | -367M | -250M | -621M | -281M | -214M | -334M | -335M | -296M | -336M | -374M | -179M | -151.2M | -182.7M | -215M | -238.1M | -131.8M | -41.2M | -157.2M | -187.2M | -188.07M | -12.83M | -12.91M | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 0 | 0 | 101M | 92M | 17M | 2M | 5M | 52M | 17M | 22M | 20M | 16M | 15.3M | 10.4M | 8.6M | 6M | 6.4M | 3.4M | 6.3M | 3M | 4.75M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 91M | 367M | 351M | 713M | 298M | 216M | 339M | 387M | 313M | 358M | 394M | 195M | 166.5M | 193.1M | 223.6M | 244.1M | 138.2M | 44.6M | 163.5M | 190.2M | 192.82M | 12.83M | 12.91M | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | 899M | -1.11B | -557M | -1.38B | -961M | -1.31B | -1.29B | -1.36B | -620M | -637M | -673M | -233M | -238.7M | -377.6M | -248M | -344.6M | -448.2M | -401M | -155.9M | 104.9M | -182.5M | -21.68M | -11.71M | -5.61M | -6M | -8.07M | -1.09M | 1.41M |
| Pretax Income | 2.99B | 650M | 1.15B | 662M | 941M | 795M | 260M | 403M | 1.09B | 973M | 906M | 1.04B | 1.05B | 825M | 831.2M | 744.3M | 616.3M | 156M | 179M | 386.8M | 409.42M | 174.44M | 167.95M | 148.79M | 145.95M | 143.35M | 144.54M | 128.9M |
| Pretax Margin % | 25.61% | 6.09% | 11.38% | 6.73% | 9.68% | 5.73% | 2.07% | 3.9% | 12.93% | 11.23% | 9.8% | 15.72% | 16.42% | 13.59% | 14.31% | 12.95% | 11.7% | 4.14% | 5.19% | 13.24% | 9.91% | 15.61% | 16.16% | 14.65% | 14.48% | 16.84% | 17.47% | 16.89% |
| Income Tax | 288M | 265M | 362M | 157M | 325M | 371M | 96M | 100M | 208M | -321M | 317M | 379M | 335.1M | 309.2M | 270.9M | 239M | 215.3M | 52.1M | 57.6M | 136.2M | 150.15M | 68.93M | 62.07M | 55.05M | 55.96M | 56.28M | 57M | 54.27M |
| Effective Tax Rate % | 9.65% | 40.77% | 31.42% | 23.72% | 34.54% | 46.67% | 36.92% | 24.81% | 19.1% | -32.99% | 34.99% | 36.55% | 31.81% | 37.48% | 32.59% | 32.11% | 34.93% | 33.4% | 32.18% | 35.21% | 36.67% | 39.51% | 36.96% | 37% | 38.35% | 39.26% | 39.44% | 42.11% |
| Net Income | 2.67B | 382M | 1.45B | -6.66B | -16.72B | 417M | 158M | 298M | 846M | 1.26B | 568M | 632M | 679.1M | 493.1M | 461.2M | 469.6M | 404.5M | 105.9M | 214.8M | 561.2M | 259.09M | 103.04M | 111.81M | 92.4M | 89.98M | 87.08M | 88.46M | 74.63M |
| Net Margin % | 22.91% | 3.58% | 14.32% | -67.69% | -172.03% | 3% | 1.26% | 2.88% | 10.04% | 14.55% | 6.15% | 9.58% | 10.59% | 8.12% | 7.94% | 8.17% | 7.68% | 2.81% | 6.23% | 19.21% | 6.27% | 9.22% | 10.76% | 9.1% | 8.93% | 10.23% | 10.69% | 9.78% |
| Net Income Growth % | 225.73% | -73.66% | 121.79% | 60.2% | -4109.59% | 163.92% | -46.98% | -64.78% | -32.91% | 122.01% | -10.13% | -6.94% | 37.72% | 6.92% | -1.79% | 16.09% | 281.96% | -50.7% | -61.72% | 116.61% | 151.44% | -7.84% | 21% | 2.69% | 3.34% | -1.57% | 18.54% | - |
| Net Income (Continuing) | 2.7B | 385M | 790M | 505M | 616M | 424M | 164M | 303M | 881M | 1.29B | 589M | 658M | 718.3M | 515.8M | 560.3M | 505.3M | 401M | 103.9M | 121.4M | 250.6M | 259.27M | 105.51M | 105.88M | 93.74M | 89.98M | 87.08M | 87.54M | 74.63M |
| Discontinued Operations | -1000K | 0 | 663M | -7.15B | -17.32B | 0 | 0 | 0 | 0 | 0 | 1M | -7M | -11.4M | 1.9M | -79.2M | -24.2M | -43.1M | 4.6M | 97.4M | 310.5M | 0 | -2.47M | 5.93M | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 3M | 3M | 2M | 6M | 188M | 185M | 187M | 16M | 7M | 109M | 104M | 86M | 134.8M | 156.8M | 152.7M | 148.2M | 158.4M | 209.7M | 164.2M | 14.19M | 12.97M | 13.06M | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 5.17 | 0.75 | 1.42 | -11.26 | -27.68 | 0.67 | 0.25 | 0.66 | 2.55 | 3.75 | 1.72 | 2.19 | 2.35 | 1.68 | 1.55 | 1.53 | 1.15 | 0.44 | 1.11 | 2.86 | 1.37 | 1.63 | 1.75 | 1.40 | 1.30 | 1.26 | 1.30 | 1.07 |
| EPS Growth % | 244.8% | -47.18% | 112.61% | 59.32% | -4222.43% | 166.47% | -61.86% | -74.09% | -32% | 118.02% | -21.46% | -6.81% | 39.88% | 8.39% | 1.31% | 33.04% | 161.36% | -60.36% | -61.19% | 108.76% | -15.72% | -7.11% | 25% | 7.69% | 3.17% | -3.08% | 21.5% | - |
| EPS (Basic) | - | 0.74 | 1.42 | -11.26 | -27.68 | 0.68 | 0.26 | 0.67 | 2.58 | 3.82 | 1.74 | 2.22 | 2.38 | 1.70 | 1.58 | 1.56 | 1.17 | 0.45 | 1.12 | 2.91 | 1.39 | 1.66 | 1.78 | 1.42 | 1.32 | 1.27 | 1.32 | 1.09 |
| Diluted Shares Outstanding | 517M | 519M | 555M | 591M | 604M | 621M | 627M | 451M | 332M | 336M | 330M | 289M | 288.7M | 294.2M | 297.5M | 307M | 352M | 239.4M | 193.5M | 196.5M | 189.2M | 63.39M | 63.97M | 65.87M | 69.03M | 69.11M | 68.05M | 69.75M |
| Basic Shares Outstanding | 515M | 517M | 553M | 591M | 604M | 616M | 619M | 445M | 328M | 330M | 326M | 285M | 284.8M | 289.7M | 291.8M | 300.6M | 345.1M | 236.4M | 191.6M | 193.1M | 185.93M | 127.92M | 127.92M | 65.09M | 68.25M | 68.56M | 67.02M | 68.47M |
| Dividend Payout Ratio | - | 221.73% | 55.17% | - | - | 230.46% | 549.37% | 220.13% | 49.76% | 30.53% | 60.04% | 48.26% | 40.49% | 51.98% | 50.91% | 12.86% | 16.79% | - | - | - | - | - | - | - | - | - | - | - |
Integration and divestiture complexity
According to the most recent quarterly data, FIS achieved a significant revenue acceleration to 30.1% in 2026Q1, marking a sharp departure from the low-single-digit growth rates observed throughout 2024, likely reflecting the structural impact of the Worldpay divestiture and a shift toward core software-centric revenue streams.
The sudden jump in top-line growth suggests that the company's revenue profile has been fundamentally altered by recent corporate restructuring. Investors should monitor whether this growth is sustainable or if it represents a one-time accounting adjustment resulting from the deconsolidation of merchant assets.
As reported in the provided financial statements, FIS experienced significant gross margin fluctuations, ranging from a low of 33.6% in 2026Q1 to a peak of 42.5% in 2025Q3, indicating that the company's cost structure remains sensitive to shifts in service mix and potential integration-related expenses.
The inconsistency in gross margins suggests that the company has yet to achieve a stable operating equilibrium following its recent strategic pivot. This volatility warrants further investigation into whether the current cost base is optimized for the new, leaner business model or if further rationalization is required.
Based on the reported figures, FIS's net income has exhibited extreme volatility, including a $2.4 billion profit in 2026Q1 and a $470 million loss in 2025Q2, which suggests that headline earnings are heavily influenced by non-operating items rather than core operational performance alone.
The wide variance in net margins, which reached 71.8% in 2026Q1, implies that investors should rely more heavily on adjusted operating metrics to gauge true profitability. The presence of such large swings often masks the underlying health of the core banking and capital markets segments.
Data from the last ten quarters indicates that operating income has failed to scale linearly with revenue, as evidenced by an operating margin that fluctuated between 13.7% and 23.4%, suggesting that the company's overhead efficiency is currently hampered by ongoing restructuring and integration costs.
The lack of consistent operating leverage implies that the company is still in a transition phase where SG&A expenses are not yet fully aligned with the new revenue structure. Future performance will likely depend on management's ability to contain these costs as the business model matures.
Quick answers to the most common questions about buying FIS stock.
For fiscal year 2025, Fidelity National Information Services, Inc. (FIS) reported total revenue of $10.68B. This represents a 1298.8% increase compared to $763.3M in 1999.
Fidelity National Information Services, Inc. (FIS) is profitable, generating $382.0M in net income for the fiscal year ending 2025 with a net profit margin of 3.6%.
Fidelity National Information Services, Inc. (FIS) reported an operating income of $1.76B, resulting in an operating profit margin of 16.5%. This margin reflects the operational efficiency of the business before interest and taxes.
Fidelity National Information Services, Inc. (FIS) generated $3.94B in gross profit for the year, representing a gross profit margin of 36.9%. This demonstrates the company's core pricing power and production efficiency.