Fidelity National Financial, Inc. (FNF) Financial Ratios
21 years of historical data (2004–2024) · Financial Services · Insurance - Specialty
EV/EBITDA
↑
6.11
-8% vs avg
5yr avg: 6.65
30Y Low1.3·High12.1
P/FCF
↓
2.08
↓-42% vs avg
5yr avg: 3.58
30Y Low2.2·High23.2
P/B Ratio
↑
1.64
+2% vs avg
5yr avg: 1.61
30Y Low0.5·High2.3
ROE
↓
15.9%
-13% vs avg
5yr avg: 18.2%
30Y Low-6%·High37%
Debt/EBITDA
↑
1.90
+3% vs avg
5yr avg: 1.85
30Y Low0.0·High3.8
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
FNF Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Fidelity National Financial, Inc. trades at 11.0x earnings, 9% below its 5-year average of 12.1x, sitting at the 47th percentile of its historical range. Compared to the Financial Services sector median P/E of 13.3x, the stock trades at a discount of 17%. On a free-cash-flow basis, the stock trades at 2.1x P/FCF, 42% below the 5-year average of 3.6x.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $13.9B | $15.3B | $13.8B | $10.4B | $14.4B | $10.7B | $12.1B | $8.4B | $10.5B | $8.2B | $8.6B |
| Enterprise Value | $15.2B | $16.6B | $15.6B | $12.0B | $14.0B | $11.4B | $12.4B | $8.0B | $10.1B | $9.6B | $10.6B |
| P/E Ratio → | 11.01 | 12.07 | 26.71 | 8.06 | 5.94 | 7.53 | 11.38 | 13.37 | 15.85 | 12.55 | 16.28 |
| P/S Ratio | 1.04 | 1.15 | 1.20 | 0.91 | 0.96 | 1.00 | 1.43 | 1.11 | 1.37 | 1.12 | 1.28 |
| P/B Ratio | 1.64 | 1.80 | 1.85 | 1.59 | 1.52 | 1.28 | 2.11 | 1.82 | 2.35 | 1.18 | 1.30 |
| P/FCF | 2.08 | 2.30 | 2.18 | 2.47 | 3.64 | 7.32 | 11.78 | 9.77 | 17.83 | 9.36 | 12.66 |
| P/OCF | 2.04 | 2.25 | 2.13 | 2.39 | 3.52 | 6.81 | 10.77 | 8.91 | 14.23 | 7.02 | 9.33 |
P/E links to full P/E history page with 30-year chart
FNF EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Fidelity National Financial, Inc.'s enterprise value stands at 6.1x EBITDA, 8% below its 5-year average of 6.6x. The Financial Services sector median is 11.4x, placing the stock at a 46% discount on an enterprise-value basis.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.24 | 1.35 | 1.05 | 0.93 | 1.06 | 1.46 | 1.05 | 1.32 | 1.32 | 1.59 |
| EV / EBITDA | 6.11 | 6.70 | 12.13 | 5.42 | 3.52 | 5.47 | 7.99 | 8.56 | 8.09 | 6.92 | 8.96 |
| EV / EBIT | 8.71 | 8.52 | 18.00 | 6.52 | 3.82 | 6.07 | 8.73 | 10.06 | 11.11 | 9.41 | 12.54 |
| EV / FCF | — | 2.49 | 2.46 | 2.85 | 3.54 | 7.75 | 12.06 | 9.28 | 17.24 | 10.99 | 15.64 |
FNF Profitability
Margins and return-on-capital ratios measuring operating efficiency
Fidelity National Financial, Inc. earns an operating margin of 13.0%, below the Financial Services sector average of 21.4%. Operating margins have compressed from 15.1% to 13.0% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 15.9% indicates solid capital efficiency, compared to the sector median of 9.5%. ROIC of 13.7% represents solid returns on invested capital versus a sector median of 5.7%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 52.9% | 52.9% | 49.1% | 62.3% | 59.6% | 63.6% | 70.5% | 70.0% | 69.6% | 70.3% | 70.3% |
| Operating Margin | 13.0% | 13.0% | 6.0% | 15.1% | 23.6% | 16.7% | 16.2% | 9.9% | 11.3% | 13.2% | 11.6% |
| Net Profit Margin | 9.5% | 9.5% | 4.5% | 11.3% | 18.6% | 13.3% | 12.5% | 8.3% | 10.1% | 9.0% | 7.9% |
Return on Capital
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 15.9% | 15.9% | 7.4% | 16.1% | 31.3% | 20.2% | 20.5% | 13.8% | 13.6% | 9.6% | 7.9% |
| ROA | 1.4% | 1.4% | 0.8% | 2.2% | 5.0% | 4.7% | 10.8% | 5.6% | 4.4% | 3.1% | 3.1% |
| ROIC | 13.7% | 13.7% | 6.0% | 15.0% | 29.5% | 17.8% | 20.1% | 13.5% | 10.4% | 8.5% | 6.6% |
| ROCE | 2.0% | 2.0% | 1.0% | 2.9% | 6.4% | 5.8% | 14.0% | 6.7% | 5.1% | 4.8% | 4.8% |
FNF Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Fidelity National Financial, Inc. carries a Debt/EBITDA ratio of 1.9x, which is manageable (54% below the sector average of 4.1x). Net debt stands at $1.3B ($4.7B total debt minus $3.4B cash). Interest coverage of 8.3x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.55 | 0.55 | 0.57 | 0.56 | 0.37 | 0.37 | 0.22 | 0.18 | 0.17 | 0.40 | 0.42 |
| Debt / EBITDA | 1.90 | 1.90 | 3.33 | 1.65 | 0.88 | 1.48 | 0.83 | 0.90 | 0.61 | 1.98 | 2.37 |
| Net Debt / Equity | — | 0.15 | 0.24 | 0.25 | -0.04 | 0.07 | 0.05 | -0.09 | -0.08 | 0.21 | 0.31 |
| Net Debt / EBITDA | 0.52 | 0.52 | 1.38 | 0.73 | -0.09 | 0.30 | 0.19 | -0.45 | -0.28 | 1.03 | 1.71 |
| Debt / FCF | — | 0.19 | 0.28 | 0.38 | -0.09 | 0.43 | 0.28 | -0.49 | -0.60 | 1.63 | 2.98 |
| Interest Coverage | 8.33 | 8.33 | 3.98 | 15.04 | 31.21 | 19.82 | 29.13 | 17.44 | 18.00 | 14.92 | 10.55 |
FNF Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | — | — | — | 280.67 | — | — | 97.82 | 115.57 | 15.39 | 0.30 | 0.38 |
| Quick Ratio | — | — | — | 320.81 | — | — | 164.61 | 183.89 | 42.01 | 4.49 | 4.57 |
| Cash Ratio | 241.85 | — | — | 241.85 | — | — | 89.95 | 106.71 | 23.51 | 3.72 | 3.76 |
| Asset Turnover | — | 0.14 | 0.14 | 0.20 | 0.25 | 0.21 | 0.79 | 0.85 | 0.56 | 0.34 | 0.32 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
FNF Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Fidelity National Financial, Inc. returns 4.1% to shareholders annually — split between a 3.8% dividend yield and 0.2% buyback yield. A payout ratio of 41.9% is moderate and appears sustainable, balancing shareholder returns with reinvestment capacity. The earnings yield of 9.1% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 3.8% | 3.5% | 3.6% | 4.7% | 3.1% | 3.6% | 2.8% | 3.9% | 2.7% | 2.9% | 2.6% |
| Payout Ratio | 41.9% | 41.9% | 96.7% | 37.8% | 15.9% | 27.3% | 32.4% | 52.2% | 36.1% | 36.8% | 41.7% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 9.1% | 8.3% | 3.7% | 12.4% | 16.8% | 13.3% | 8.8% | 7.5% | 6.3% | 8.0% | 6.1% |
| FCF Yield | 48.1% | 43.5% | 45.9% | 40.5% | 27.5% | 13.7% | 8.5% | 10.2% | 5.6% | 10.7% | 7.9% |
| Buyback Yield | 0.2% | 0.2% | 0.2% | 5.3% | 3.2% | 2.2% | 0.7% | 0.2% | 0.7% | 3.4% | 5.8% |
| Total Shareholder Yield | 4.1% | 3.7% | 3.8% | 10.0% | 6.3% | 5.8% | 3.6% | 4.1% | 3.3% | 6.3% | 8.4% |
| Shares Outstanding | — | $273M | $271M | $277M | $287M | $286M | $277M | $278M | $278M | $339M | $348M |
Peer Comparison
Compare FNF with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 FNFYou | $14B | 11.0 | 6.1 | 2.1 | 52.9% | 13.0% | 15.9% | 13.7% | 1.9 |
 FAF | $7B | 11.4 | 7.2 | 9.2 | 95.6% | 11.1% | 11.9% | 10.7% | 1.8 |
 STC | $2B | 17.0 | 11.7 | 15.8 | 87.7% | 5.7% | 7.5% | 6.2% | 3.9 |
 ITIC | $448M | 12.8 | 9.1 | 17.7 | 98.3% | 16.3% | 13.5% | 13.4% | 0.3 |
 RDN | $5B | 9.1 | 8.4 | — | 95.1% | 59.8% | 13.4% | 9.0% | 2.8 |
 ESNT | $6B | 8.8 | 7.2 | 6.9 | 93.6% | 67.5% | 13.6% | 11.3% | 0.6 |
 MTG | $6B | 8.4 | 6.2 | 6.5 | 94.9% | 76.5% | 14.3% | 12.7% | 0.7 |
 PFSI | $5B | 9.4 | 18.1 | — | 91.4% | 34.6% | 12.3% | 4.4% | 15.3 |
 ICE | $88B | 26.9 | 16.6 | 20.5 | 61.9% | 38.7% | 11.7% | 7.5% | 3.1 |
 CSGP | $15B | 2102.4 | 83.5 | 360.8 | 75.2% | -2.2% | 0.1% | -0.9% | 6.7 |
 OPEN | $5B | -3.1 | — | 4.8 | 8.0% | -6.6% | -151.3% | -16.6% | — |
| Financial Services Median | — | 13.3 | 11.4 | 10.6 | 62.9% | 21.4% | 9.5% | 5.7% | 4.1 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 21 years · Updated daily
Full FNF Stock Analysis
Analyst consensus, bull case, AI-generated risk factors, and peer comparison — all in one place.
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Side-by-side business, growth, and profitability comparison vs First American Financial Corporation.
Start ComparisonFNF — Frequently Asked Questions
Quick answers to the most common questions about buying FNF stock.
What is Fidelity National Financial, Inc.'s P/E ratio?
Fidelity National Financial, Inc.'s current P/E ratio is 11.0x. The historical average is 10.5x. This places it at the 47th percentile of its historical range.
What is Fidelity National Financial, Inc.'s EV/EBITDA?
Fidelity National Financial, Inc.'s current EV/EBITDA is 6.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 6.2x.
What is Fidelity National Financial, Inc.'s ROE?
Fidelity National Financial, Inc.'s return on equity (ROE) is 15.9%. The historical average is 13.9%.
Is FNF stock overvalued?
Based on historical data, Fidelity National Financial, Inc. is trading at a P/E of 11.0x. This is at the 47th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Fidelity National Financial, Inc.'s dividend yield?
Fidelity National Financial, Inc.'s current dividend yield is 3.81% with a payout ratio of 41.9%.
What are Fidelity National Financial, Inc.'s profit margins?
Fidelity National Financial, Inc. has 52.9% gross margin and 13.0% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does Fidelity National Financial, Inc. have?
Fidelity National Financial, Inc.'s Debt/EBITDA ratio is 1.9x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.