Fidelity National Financial, Inc. (FNF) Financial Ratios
22 years of historical data (2004–2025) · Financial Services · Insurance - Specialty
EV/EBITDA
↑
6.59
-7% vs avg
5yr avg: 7.07
30Y Low1.3·High12.1
P/FCF
↓
1.98
↓-23% vs avg
5yr avg: 2.58
30Y Low2.2·High23.2
P/B Ratio
↑
1.42
↓-16% vs avg
5yr avg: 1.68
30Y Low0.5·High2.3
ROE
↓
6.9%
↑-56% vs avg
5yr avg: 15.5%
30Y Low-6%·High37%
Debt/EBITDA
↑
2.09
+6% vs avg
5yr avg: 1.97
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 21.2x earnings, 37% above its 5-year average of 15.5x, sitting at the 90th percentile of its historical range. Compared to the Financial Services sector median P/E of 13.6x, the stock trades at a premium of 56%. On a free-cash-flow basis, the stock trades at 2.0x P/FCF, 23% below the 5-year average of 2.6x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $12.6B | $14.8B | $15.3B | $13.8B | $10.4B | $14.4B | $10.7B | $12.1B | $8.4B | $10.5B | $8.2B |
| Enterprise Value | $15.0B | $17.2B | $16.6B | $15.6B | $12.0B | $14.0B | $11.4B | $12.4B | $8.0B | $10.1B | $9.6B |
| P/E Ratio → | 21.19 | 24.70 | 12.07 | 26.71 | 8.06 | 5.94 | 7.53 | 11.38 | 13.37 | 15.85 | 12.55 |
| P/S Ratio | 0.87 | 1.02 | 1.15 | 1.20 | 0.91 | 0.96 | 1.00 | 1.43 | 1.11 | 1.37 | 1.12 |
| P/B Ratio | 1.42 | 1.65 | 1.80 | 1.85 | 1.59 | 1.52 | 1.28 | 2.11 | 1.82 | 2.35 | 1.18 |
| P/FCF | 1.98 | 2.33 | 2.30 | 2.18 | 2.47 | 3.64 | 7.32 | 11.78 | 9.77 | 17.83 | 9.36 |
| P/OCF | 1.93 | 2.28 | 2.25 | 2.13 | 2.39 | 3.52 | 6.81 | 10.77 | 8.91 | 14.23 | 7.02 |
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 6.6x EBITDA, 7% below its 5-year average of 7.1x. The Financial Services sector median is 11.4x, placing the stock at a 42% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.19 | 1.24 | 1.35 | 1.05 | 0.93 | 1.06 | 1.46 | 1.05 | 1.32 | 1.32 |
| EV / EBITDA | 6.59 | 7.58 | 6.70 | 12.13 | 5.42 | 3.52 | 5.47 | 7.99 | 8.56 | 8.09 | 6.92 |
| EV / EBIT | 10.47 | 10.30 | 8.52 | 18.00 | 6.52 | 3.82 | 6.07 | 8.73 | 10.06 | 11.11 | 9.41 |
| EV / FCF | — | 2.70 | 2.49 | 2.46 | 2.85 | 3.54 | 7.75 | 12.06 | 9.28 | 17.24 | 10.99 |
FNF Profitability
Margins and return-on-capital ratios measuring operating efficiency
Fidelity National Financial, Inc. earns an operating margin of 9.9%, below the Financial Services sector average of 20.3%. Operating margins have expanded from 6.0% to 9.9% over the past 3 years, signaling improving operational efficiency. ROE of 6.9% is modest, trailing the sector median of 9.0%. ROIC of 10.1% represents solid returns on invested capital versus a sector median of 5.5%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 98.2% | 98.2% | 52.9% | 49.1% | 62.3% | 59.6% | 63.6% | 70.5% | 70.0% | 69.6% | 70.3% |
| Operating Margin | 9.9% | 9.9% | 13.0% | 6.0% | 15.1% | 23.6% | 16.7% | 16.2% | 9.9% | 11.3% | 13.2% |
| Net Profit Margin | 4.2% | 4.2% | 9.5% | 4.5% | 11.3% | 18.6% | 13.3% | 12.5% | 8.3% | 10.1% | 9.0% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 6.9% | 6.9% | 15.9% | 7.4% | 16.1% | 31.3% | 20.2% | 20.5% | 13.8% | 13.6% | 9.6% |
| ROA | 0.6% | 0.6% | 1.4% | 0.7% | 2.1% | 5.0% | 4.7% | 10.8% | 5.6% | 4.4% | 3.1% |
| ROIC | 10.1% | 10.1% | 13.7% | 6.0% | 15.0% | 29.5% | 17.8% | 20.1% | 13.5% | 10.4% | 8.5% |
| ROCE | 1.8% | 1.8% | 2.0% | 1.0% | 2.7% | 7.4% | 5.8% | 14.0% | 6.7% | 5.1% | 4.8% |
FNF Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Fidelity National Financial, Inc. carries a Debt/EBITDA ratio of 2.1x, which is manageable (51% below the sector average of 4.3x). Net debt stands at $2.4B ($4.8B total debt minus $2.4B cash). Interest coverage of 6.9x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.53 | 0.53 | 0.55 | 0.57 | 0.56 | 0.37 | 0.37 | 0.22 | 0.18 | 0.17 | 0.40 |
| Debt / EBITDA | 2.09 | 2.09 | 1.90 | 3.33 | 1.65 | 0.88 | 1.48 | 0.83 | 0.90 | 0.61 | 1.98 |
| Net Debt / Equity | — | 0.27 | 0.15 | 0.24 | 0.25 | -0.04 | 0.07 | 0.05 | -0.09 | -0.08 | 0.21 |
| Net Debt / EBITDA | 1.05 | 1.05 | 0.52 | 1.38 | 0.73 | -0.09 | 0.30 | 0.19 | -0.45 | -0.28 | 1.03 |
| Debt / FCF | — | 0.38 | 0.19 | 0.28 | 0.38 | -0.09 | 0.43 | 0.28 | -0.49 | -0.60 | 1.63 |
| Interest Coverage | 6.92 | 6.92 | 9.33 | 4.98 | 16.04 | 32.21 | 20.82 | 30.13 | 18.44 | 19.00 | 15.92 |
FNF Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Fidelity National Financial, Inc.'s current ratio of 2.44x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.44 | 2.44 | — | — | — | 5.67 | — | 97.82 | 115.57 | 15.39 | 0.30 |
| Quick Ratio | 2.44 | 2.44 | — | — | — | 6.53 | — | 164.61 | 183.89 | 42.01 | 4.49 |
| Cash Ratio | 1.57 | 1.57 | — | — | — | 5.07 | — | 89.95 | 106.71 | 23.51 | 3.72 |
| Asset Turnover | — | 0.13 | 0.14 | 0.14 | 0.18 | 0.25 | 0.21 | 0.79 | 0.85 | 0.56 | 0.34 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
FNF Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Fidelity National Financial, Inc. returns 6.6% to shareholders annually — split between a 4.3% dividend yield and 2.3% buyback yield. The payout ratio of 90.7% is elevated — while still covered by earnings, there is limited headroom for dividend increases. The earnings yield of 4.7% (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 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 4.3% | 3.7% | 3.5% | 3.6% | 4.7% | 3.1% | 3.6% | 2.8% | 3.9% | 2.7% | 2.9% |
| Payout Ratio | 90.7% | 90.7% | 41.9% | 96.7% | 37.8% | 15.9% | 27.3% | 32.4% | 52.2% | 36.1% | 36.8% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.7% | 4.0% | 8.3% | 3.7% | 12.4% | 16.8% | 13.3% | 8.8% | 7.5% | 6.3% | 8.0% |
| FCF Yield | 50.6% | 42.9% | 43.5% | 45.9% | 40.5% | 27.5% | 13.7% | 8.5% | 10.2% | 5.6% | 10.7% |
| Buyback Yield | 2.3% | 1.9% | 0.2% | 0.2% | 5.3% | 3.2% | 2.2% | 0.7% | 0.2% | 0.7% | 3.4% |
| Total Shareholder Yield | 6.6% | 5.6% | 3.7% | 3.8% | 10.0% | 6.3% | 5.8% | 3.6% | 4.1% | 3.3% | 6.3% |
| Shares Outstanding | — | $272M | $273M | $271M | $277M | $287M | $286M | $277M | $278M | $278M | $339M |
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 | $13B | 21.2 | 6.6 | 2.0 | 98.2% | 9.9% | 6.9% | 10.1% | 2.1 |
 FAF | $7B | 11.4 | 7.2 | 9.2 | 95.6% | 11.1% | 11.9% | 10.7% | 1.8 |
 STC | $2B | 16.5 | 11.5 | 15.3 | 87.7% | 5.7% | 7.5% | 6.2% | 3.9 |
 ITIC | $488M | 13.9 | 9.7 | 19.2 | 98.3% | 16.3% | 13.5% | 13.7% | 0.2 |
 RDN | $5B | 8.4 | 7.2 | 14.0 | 92.3% | 61.2% | 12.4% | 8.9% | 1.4 |
 ESNT | $5B | 8.5 | 7.0 | 6.3 | 88.2% | 65.2% | 12.1% | 10.2% | 0.6 |
 MTG | $6B | 8.3 | 6.2 | 6.5 | 94.9% | 76.5% | 14.3% | 12.7% | 0.7 |
 PFSI | $4B | 8.9 | 17.9 | — | 91.4% | 34.6% | 12.3% | 4.4% | 15.3 |
 ICE | $76B | 23.2 | 14.8 | 17.7 | 61.9% | 38.7% | 11.7% | 7.5% | 3.1 |
 CSGP | $13B | 1814.5 | 71.6 | 311.4 | 75.2% | -2.2% | 0.1% | -0.9% | 6.7 |
 OPEN | $3B | -2.6 | — | 3.3 | 7.0% | -6.2% | -151.3% | -15.8% | — |
| Financial Services Median | — | 13.6 | 11.4 | 11.1 | 64.1% | 20.3% | 9.0% | 5.5% | 4.3 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 22 years · Updated daily
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FNF — 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 21.2x. The historical average is 11.2x. This places it at the 90th percentile of its historical range.
What is Fidelity National Financial, Inc.'s EV/EBITDA?
Fidelity National Financial, Inc.'s current EV/EBITDA is 6.6x. 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 6.9%. The historical average is 13.6%.
Is FNF stock overvalued?
Based on historical data, Fidelity National Financial, Inc. is trading at a P/E of 21.2x. This is at the 90th 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 4.29% with a payout ratio of 90.7%.
What are Fidelity National Financial, Inc.'s profit margins?
Fidelity National Financial, Inc. has 98.2% gross margin and 9.9% operating margin.
How much debt does Fidelity National Financial, Inc. have?
Fidelity National Financial, Inc.'s Debt/EBITDA ratio is 2.1x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.