Upside case
Bull case
$163+219.3%
FNF would need investors to value it at roughly 28x earnings — about 19x more generous than today's 9x forward P/E. That requires meaningful multiple expansion on top of continued earnings growth.
Analysis OverviewBuyUpdated May 1, 2026
Fidelity National Financial, Inc. (FNF) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Buy
Covering
17
analysts
14 bullish · 0 bearish · 17 covering FNF
Strong Buy
0
Buy
14
Hold
3
Sell
0
Strong Sell
0
Consensus Target
$67
+30.9% vs today
Scenario Range
$23 – $163
Model bear to bull value window
Coverage
17
Published analyst ratings
Valuation Context
8.9x
Forward P/E · Market cap $13.9B
FNF price targets
Three scenarios for where FNF stock could go
Current
~$51
Confidence
41 / 100
Updated
May 1, 2026
Where we are now
Current · $51
Bear
$23
Base
$58
Bull
$163
Market caseClosest to today
Base case
$58+12.9%
At 10x on FY1 earnings, the base case reflects a reasonable but not stretched valuation. It prices in continued growth without assuming an exceptional setup.
Stress case
Bear case
$23-54.2%
If investor confidence fades or macro conditions deteriorate, a 5x multiple contraction could push FNF down roughly 54% from where it trades now.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
Fidelity National Financial, Inc.
FNF · NYSEFinancial ServicesInsurance - SpecialtyDecember year-end
Fidelity National Financial is a leading provider of title insurance and transaction services for real estate and mortgage industries. It generates revenue primarily from title insurance premiums (roughly 70% of revenue) and escrow services, with additional income from annuity and life insurance products through its F&G segment. The company's competitive advantage lies in its massive scale and national footprint in title services—processing over 40% of U.S. residential transactions—creating significant economies of scale and deep industry relationships.
Market Cap
$13.9B
Revenue TTM
$13.7B
Net Income TTM
$1.2B
Net Margin
8.5%
FNF Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
25%Exceptional
12 quarters tracked
Revenue Beat Rate
75%Exceptional
vs consensus estimates
Avg EPS Surprise
-9.8%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q2 2025
Q3 2025
Q4 2025
Q1 2026
Last 4 Quarters
EPS beats: 1 of 4Q2 2025
EPS
$0.78/$1.10
Revenue
$718M/$3.3B
Q3 2025
EPS
$1.16/$1.37
Revenue
$3.6B/$3.5B
Q4 2025
EPS
$1.57/$1.42
Revenue
$3.9B/$3.6B
Q1 2026
EPS
$1.41/$1.51
Revenue
$4.1B/$3.7B
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q2 2025 | $0.78/$1.10 | -29.1% | $718M/$3.3B | -78.4% |
| Q3 2025 | $1.16/$1.37 | -15.3% | $3.6B/$3.5B | +2.7% |
| Q4 2025 | $1.57/$1.42 | +10.6% | $3.9B/$3.6B | +10.4% |
| Q1 2026 | $1.41/$1.51 | -6.6% | $4.1B/$3.7B | +10.7% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$15.1B
+9.7% YoY
FY2
$16.3B
+8.2% YoY
EPS Outlook
FY1
$4.82
+12.7% YoY
FY2
$5.25
+8.8% YoY
Trailing FCF (TTM)$5.7B
FCF Margin: 41.4%
Next Earnings
May 6, 2026
Expected EPS
$1.09
Expected Revenue
$3.6B
FNF beat EPS estimates in 1 of 4 tracked quarters. Mixed delivery makes the upcoming report a key data point for re-rating.
FNF Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2024
Total disclosed revenue $11.3B
Product Mix
Latest annual revenue by segment or product family
Title Segment
72.8%
+17.1% YoY
Tap, hover, or focus a slice to inspect segment detail.
Geographic Mix
Latest annual revenue by reported region
Segment breakdown not available for this company.
Title Segment is the largest disclosed segment at 72.8% of FY 2024 revenue, up 17.1% YoY.
FNF Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Fairly Valued
Fair value est. $53 — implies +3.0% from today's price.
Upside to Fair Value
3.0%
potential upside
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
FNF
11.0x
vs
S&P 500
25.1x
56% discount
vs Financial Services Trailing P/E
FNF
11.0x
vs
Financial Services
13.3x
17% discount
vs FNF 5Y Avg P/E
Today
11.0x
vs
5Y Average
12.1x
9% discount
Forward PE
8.9x
S&P 500
19.1x
-54%
Financial Services
10.4x
-15%
5Y Avg
—
—
Trailing PE
11.0x
S&P 500
25.1x
-56%
Financial Services
13.3x
-17%
5Y Avg
12.1x
-9%
PEG Ratio
2.78x
S&P 500
1.72x
+62%
Financial Services
1.01x
+175%
5Y Avg
—
—
EV/EBITDA
6.1x
S&P 500
15.2x
-60%
Financial Services
11.4x
-46%
5Y Avg
6.6x
-8%
Price/FCF
2.1x
S&P 500
21.1x
-90%
Financial Services
10.6x
-80%
5Y Avg
3.6x
-42%
Price/Sales
1.0x
S&P 500
3.1x
-67%
Financial Services
2.2x
-53%
5Y Avg
1.0x
-0%
Dividend Yield
3.81%
S&P 500
1.87%
+104%
Financial Services
2.70%
+41%
5Y Avg
3.70%
+3%
| Metric | FNF | S&P 500 | Financial Services | 5Y Avg FNF |
|---|---|---|---|---|
| Forward PE | 8.9x | 19.1x-54% | 10.4x-15% | — |
| Trailing PE | 11.0x | 25.1x-56% | 13.3x-17% | 12.1x |
| PEG Ratio | 2.78x | 1.72x+62% | 1.01x+175% | — |
| EV/EBITDA | 6.1x | 15.2x-60% | 11.4x-46% | 6.6x |
| Price/FCF | 2.1x | 21.1x-90% | 10.6x-80% | 3.6x-42% |
| Price/Sales | 1.0x | 3.1x-67% | 2.2x-53% | 1.0x |
| Dividend Yield | 3.81% | 1.87% | 2.70% | 3.70% |
FNF trades above S&P 500 benchmarks on 1 of 6 measured multiples — appears modestly priced relative to the S&P 500 on most measures.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolFNF Financial Health
Verdict
Strong
FNF posts 8.5% net margin with 12.5% ROE — the core signals of underwriting discipline and capital efficiency.
Underwriting & Earnings
Premium revenue, margins, and returns
Revenue (TTM)
Trailing-twelve-month sales base
$13.7B
Revenue Growth
TTM vs prior year
+3.9%
Operating Margin
Operating income divided by revenue
11.6%
Net Margin
Net income divided by revenue
8.5%
EPS (TTM)
Diluted earnings per share, trailing twelve months
$4.28
ROE
Return on equity — measures underwriting and investment efficiency
12.5%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
13.7%
ROA
Return on assets, trailing twelve months
1.1%
Cash & Equivalents
Liquid assets on the balance sheet
$3.4B
Net Debt
Total debt minus cash
$1.3B
FCF Analysis
Traditional FCF and debt/FCF ratios are not meaningful for financial companies. Focus on ROE and ROA above.
ROE
Return on equity, trailing twelve months
12.5%
Shareholder Returns
How capital is returned to owners
Total shareholder yield
4.1%
Dividend
3.8%
Buyback
0.2%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$34M
Dividend / Share
Annualized trailing dividend per share
$1.95
Payout Ratio
Share of earnings distributed as dividends
41.9%
Shares Outstanding
Declining as buybacks retire shares
273M
All figures from the trailing twelve months. For financial companies, ROE and ROA are the primary health signals — FCF-based metrics are not applicable.
Open full ratios pageFNF Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated April 29, 2026
High Risk
Housing Market Dependency
FNF's performance is heavily reliant on the U.S. housing market's transaction volume. A slowdown in this market, evidenced by recent record lows in transactions, can significantly impact the company's financial results, particularly due to high mortgage interest rates that deter refinancing and home sales.
High Risk
Interest Rate Volatility
Fluctuations in mortgage interest rates directly affect real estate activity, which in turn impacts FNF's title insurance and transaction services. Higher interest rates can lead to reduced demand for housing and refinancing, resulting in lower transaction volumes and revenue.
High Risk
Title Segment Performance
FNF has reported a significant decline in its Title segment earnings, with a year-over-year drop of -38%. This decline has negatively affected pretax margins, pushing them below the company's long-term target range and contributing to a negative outlook for the stock.
Medium
General Economic Conditions
Broader economic downturns, shifts in consumer spending, and global events such as geopolitical conflicts can adversely affect FNF's operations. These factors can lead to reduced demand for title insurance and related services, impacting overall financial performance.
Medium
Capital Markets Volatility
The strength and volatility of capital markets can influence FNF's investment portfolio and overall financial stability. Significant fluctuations in market conditions may lead to losses in investments, affecting the company's financial health.
Medium
Regulatory Compliance
FNF's subsidiaries are subject to extensive government regulations, including those related to title insurance and data protection. Non-compliance with these regulations can result in penalties and reputational damage, impacting the company's operations.
Lower
Cybersecurity and System Failures
FNF is vulnerable to system failures, cyberattacks, and unauthorized data disclosures. Such incidents could materially and adversely affect the company's business operations and customer trust.
Lower
Competition
FNF faces significant competition in its operating segments, particularly within its title insurance and services businesses. Increased competition can lead to pricing pressures and reduced market share, impacting profitability.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why FNF Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated April 29, 2026
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%.
Undervaluation and Analyst Optimism
FNF stock is considered undervalued, trading at a discount to its intrinsic value, with several analysts upgrading the stock to 'Buy.' This sentiment is supported by potential upside and a solid dividend, indicating positive market outlook.
Integration and Future Growth
Fidelity National Information Services (FIS) is projected to reach $3 billion in free cash flow by 2028, driven by scaling its international credit processing platform. This growth is expected to be sustained by banking organic growth above 4.7% due to bank M&A activity.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
FNF Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$51.18
52W Range Position
38%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$42.78
+19.6% from the low
52-Week High
$64.98
-21.2% from the high
1 Month
+9.88%
3 Month
-10.21%
YTD
-5.7%
1 Year
-20.7%
3Y CAGR
+14.4%
5Y CAGR
+3.1%
10Y CAGR
+8.2%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
FNF vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
8.9x
vs 10.7x median
-17% below peer median
Revenue Growth
+9.7%
vs +7.4% median
+32% above peer median
Net Margin
8.5%
vs 12.9% median
-34% below peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
FNF FNF Fidelity National Financial, Inc. | $13.9B | 8.9x | +9.7% | 8.5% | Buy | +30.9% |
FAF FAF First American Financial Corporation | $7.0B | 10.7x | +14.2% | 11.2% | Buy | +21.4% |
STC STC Stewart Information Services Corporation | $2.1B | 11.3x | +10.1% | 4.0% | Buy | +17.3% |
ITI ITIC Investors Title Company | $448M | 39.0x | -14.9% | 12.9% | — | — |
RDN RDN Radian Group Inc. | $4.8B | 7.2x | +5.3% | 45.6% | Buy | +12.4% |
ESN ESNT Essent Group Ltd. | $5.9B | 8.5x | +7.4% | 53.7% | Buy | +15.2% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
FNF Dividend and Capital Return
FNF returns 4.1% total yield, led by a 3.81% dividend, raised 14 consecutive years.
Dividend SustainableFCF Well Covered
Total Shareholder Yield
4.1%
Dividend + buyback return per year
Buyback Yield
0.2%
Dividend Yield
3.81%
Payout Ratio
41.9%
How FNF Splits Its Return
Div 3.81%
Dividend 3.81%Buybacks 0.2%
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$1.95
Growth Streak
Consecutive years of dividend increases
14Y
3Y Div CAGR
4.9%
5Y Div CAGR
8.9%
Ex-Dividend Date
—
Payment Cadence
Quarterly
4 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$34M
Estimated Shares Retired
664.3K
Approx. Share Reduction
0.2%
Shares Outstanding
Current diluted share count from the screening snapshot
273M
| Year | Div / Share | YoY Grw | BB Yield | Total Yield |
|---|---|---|---|---|
| 2026 | $0.52 | — | — | — |
| 2025 | $1.98 | +2.3% | — | — |
| 2024 | $1.94 | +6.0% | 0.2% | 3.7% |
| 2023 | $1.83 | +6.4% | 0.2% | 3.8% |
| 2022 | $1.72 | +14.6% | 5.3% | 10.0% |
FAQ
7 questionsFNF Investor Questions
Common questions answered from live analyst data and company financials.
01Is Fidelity National Financial, Inc. (FNF) stock a buy or sell in 2026?
Fidelity National Financial, Inc. (FNF) is rated Buy by Wall Street analysts as of 2026. Of 17 analysts covering the stock, 14 rate it Buy or Strong Buy, 3 rate it Hold, and 0 rate it Sell or Strong Sell. The consensus 12-month price target is $67, implying +30.9% from the current price of $51. The bear case scenario is $23 and the bull case is $163.
02What is the FNF stock price target for 2026?
The Wall Street consensus price target for FNF is $67 based on 17 analyst estimates. The high-end target is $67 (+30.9% from today), and the low-end target is $67 (+30.9%). The base case model target is $58.
03Is Fidelity National Financial, Inc. (FNF) stock overvalued in 2026?
FNF trades at 8.9x times forward earnings. The stock currently trades at a discount to the broader market. Based on current multiples versus the peer group, the relative model signals fairly valued. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for Fidelity National Financial, Inc. (FNF) stock in 2026?
The primary risks for FNF in 2026 are: (1) Housing Market Dependency — FNF's performance is heavily reliant on the U. (2) Interest Rate Volatility — Fluctuations in mortgage interest rates directly affect real estate activity, which in turn impacts FNF's title insurance and transaction services. (3) Title Segment Performance — FNF has reported a significant decline in its Title segment earnings, with a year-over-year drop of -38%. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is Fidelity National Financial, Inc.'s revenue and earnings forecast?
Analyst consensus estimates FNF will report consensus revenue of $15.1B (+9.7% year-over-year) and EPS of $4.82 (+12.7% year-over-year) for the upcoming fiscal year. The following year, analysts project $16.3B in revenue.
06When does Fidelity National Financial, Inc. (FNF) report its next earnings?
Fidelity National Financial, Inc. is expected to report its next earnings on approximately 2026-05-06. Consensus expects EPS of $1.09 and revenue of $3.6B. Over recent quarters, FNF has beaten EPS estimates 25% of the time.
07How much free cash flow does Fidelity National Financial, Inc. generate?
Fidelity National Financial, Inc. (FNF) generated $5.7B in free cash flow over the trailing twelve months — a free cash flow margin of 41.4%. FNF returns capital to shareholders through dividends (3.8% yield) and share repurchases ($34M TTM).