As of 2024, Fidelity National Information Services net worth has captured the interest of financial enthusiasts and investors alike.
At Ando Money, I aim to provide accurate, in-depth insights into the company’s value and financial performance.
Quick Facts
| FACT | DETAIL |
|---|---|
| Name | Fidelity National Information Services |
| Full Name | Fidelity National Information Services, Inc. |
| Website | www.fisglobal.com |
| Industry | Financial Technology (FinTech) |
| Traded as | NYSE: FIS |
| ISIN | N/A |
| Founded | 1968 |
| Founders | N/A |
| Country/Territory | United States |
| Headquarters | Jacksonville, Florida |
| Chief Executive Officer | Stephanie Ferris |
| Number of Employees | 22,000 |
| Market Cap (2024) | $46.17 Billion |
| Total Assets (2024) | $34.598 Billion |
| Total Equity (2024) | $17.041 Billion |
| Revenue (Q2 2024) | $2.5 Billion |
| Net Income (Q2 2024) | $242 Million (GAAP) |
What is the Net Worth/Market Cap Of Fidelity National Information Services in 2024?
In 2024, the market cap of Fidelity National Information Services (FIS) is approximately $46.17 billion, positioning it as one of the prominent financial technology companies globally.
This places FIS in the same league as several other major financial entities, showcasing its strong market presence and value. Companies comparable to FIS in terms of influence and industry standing include:
- Mastercard
- Visa
- PayPal
- Global Payments
- Square
- American Express
- First Data
- Fiserv
- Western Union
- Worldline
If you’re interested in exploring more about the financial giants like FIS, check out the leading financial brands in the top companies worldwide.
Fidelity National Information Services Financial Performance Overview
Revenue & Earnings
In the second quarter of 2024, FIS reported revenue of approximately $2.5 billion, which marked a 3% increase on a GAAP basis and a 4% rise on an adjusted basis compared to the prior year.
This growth is attributed to improvements across its operational segments. The GAAP net earnings for continuing operations stood at $242 million, with a GAAP diluted EPS of $0.43.
Segment Performance
Banking Solutions: This segment generated revenue of $1.71 billion in Q2 2024, achieving 3% growth on both a GAAP and adjusted basis. Notably, adjusted EBITDA margin in this sector expanded by 140 basis points, reaching 44.8%.
The growth was fueled by cost-saving initiatives and an increase in high-margin license revenue.
Capital Market Solutions: This sector recorded $722 million in revenue, reflecting a 7% increase compared to the previous year. The segment’s adjusted EBITDA margin expanded by 60 basis points, reaching 50.8% due to operating leverage and higher recurring revenue growth.
Corporate and Other: Revenue in this category decreased by 33% to $57 million. Despite this, the company continues to focus on cost optimization.
Adjusted EBITDA & Profitability
The adjusted EBITDA margin for Q2 2024 expanded by 110 basis points to 40.1%. This improvement can be attributed to a better revenue mix and the implementation of cost-saving measures.
The adjusted net earnings for continuing operations reached approximately $754 million, resulting in an adjusted EPS of $1.36, representing a remarkable 79% increase from the previous year.
Shareholder Returns & Capital Allocation
The company remains committed to enhancing shareholder value. In 2024, FIS announced a $3 billion share repurchase authorization, in addition to completing $1.1 billion in share repurchases during Q2 and $2.5 billion year-to-date.
Additionally, FIS targets a dividend payout ratio of 35% of adjusted net earnings, ensuring consistent returns to shareholders.
Worldpay Sale & Balance Sheet
On January 31, 2024, FIS completed the sale of a 55% stake in its Worldpay Merchant Solutions business, retaining a 45% ownership in the newly formed joint venture, Worldpay Holdco, LLC. This strategic move provided FIS with additional flexibility and cash flow.
As of June 30, 2024, FIS reported total assets of $34.598 billion and total equity of $17.041 billion, with $11.2 billion in outstanding debt.
FAQs about Fidelity National Information Services
What services does FIS provide?
FIS is a global provider of financial technology solutions, offering services like banking technology, payment processing, asset management, and financial operations support to financial institutions, businesses, and developers.
How has FIS’s revenue grown in recent years?
FIS’s revenue for Q2 2024 increased by 3% on a GAAP basis and 4% on an adjusted basis year-over-year. This growth has been primarily driven by the performance in Banking and Capital Market Solutions.
Who is the CEO of FIS?
As of 2024, Stephanie Ferris serves as the Chief Executive Officer and President of FIS, leading the company’s vision and strategy in financial technology.
What is the significance of the Worldpay sale for FIS?
The sale of a 55% stake in Worldpay to GTCR was a strategic move to create greater operational focus and flexibility. FIS retained a 45% ownership in the new venture, providing additional earnings through equity method investment.
How does FIS approach shareholder returns?
FIS prioritizes delivering shareholder value through share repurchases and dividends. In 2024, they repurchased $1.1 billion worth of shares in Q2 and aim to complete $4 billion in total share buybacks for the year.
Conclusion
FIS’s financial performance in 2024 reflects robust growth and strategic maneuvers to enhance shareholder value.
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