Fidelity National Financial, Inc. (FNF) Income Statement
FNF 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsFNF revenue and net income
Where FNF's revenue goes
2025Each bar shows an amount and its share of revenue. FNF kept 4.2% of revenue as net income.
FNF profit margins
FNF growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +8.6% | +8.2% | +6.3% | +8.1% |
| Gross profit | +101.5% | +25.9% | +15.9% | +11.8% |
| Operating income | −17.8% | −6.1% | −4.3% | +6.4% |
| Net income | −52.6% | −22.5% | −15.9% | +1.3% |
| EPS (diluted) | +7.3% | −2.7% | −1.3% | +8.7% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
FNF quarterly EPS vs estimates
Fidelity National Financial beat the analyst EPS estimate in 3 of the last 8 quarters. Next report: November 5, 2026 (estimate $1.31).
FNF income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $14.51B | $13.36B | $11.52B | $11.46B | $15.07B | $10.70B | $8.47B | $7.59B | $7.66B | $7.26B |
| Cost of revenue | $262.0M | $6.29B | $5.86B | $4.32B | $6.09B | $3.90B | $2.50B | $2.28B | $2.33B | $2.15B |
| Gross profit | $14.24B | $7.07B | $5.66B | $7.14B | $8.97B | $6.80B | $5.97B | $5.31B | $5.34B | $5.10B |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | $3.44B | $3.15B | $2.91B | $3.19B | $3.53B | $2.95B | $2.70B | $2.54B | $2.46B | $2.27B |
| Total operating expenses | $12.81B | $5.33B | $4.96B | $5.41B | $5.41B | $5.02B | $4.60B | $4.56B | $4.47B | $4.15B |
| Operating income | $1.43B | $1.74B | $693.0M | $1.73B | $3.56B | $1.78B | $1.37B | $750.0M | $864.0M | $955.0M |
| Interest income | $2.94B | $2.84B | $2.27B | $115.0M | $114.0M | $900.0M | $225.0M | $177.0M | $131.0M | $129.0M |
| Interest expense | $242.0M | $209.0M | $174.0M | $115.0M | $114.0M | $90.0M | $47.0M | $43.0M | $48.0M | $64.0M |
| Income before taxes | $1.43B | $1.76B | $710.0M | $1.75B | $3.62B | $1.80B | $1.37B | $750.0M | $864.0M | $955.0M |
| Income taxes | $753.0M | $367.0M | $192.0M | $439.0M | $813.0M | $322.0M | $308.0M | $120.0M | $235.0M | $347.0M |
| Net income | $602.0M | $1.27B | $517.0M | $1.29B | $2.80B | $1.43B | $1.06B | $628.0M | $771.0M | $650.0M |
| EBITDA | $2.52B | $2.69B | $1.46B | $2.34B | $4.10B | $2.17B | $1.59B | $975.0M | $1.30B | $1.45B |
| EPS (diluted) | $4.98 | $4.64 | $3.51 | $5.40 | $7.90 | $5.31 | $3.40 | $2.69 | $2.48 | $2.47 |
| Gross margin | 98.2% | 52.9% | 49.1% | 62.3% | 59.6% | 63.6% | 70.5% | 70.0% | 69.6% | 70.3% |
| Operating margin | 9.9% | 13.0% | 6.0% | 15.1% | 23.6% | 16.7% | 16.2% | 9.9% | 11.3% | 13.2% |
| Net margin | 4.2% | 9.5% | 4.5% | 11.3% | 18.6% | 13.3% | 12.5% | 8.3% | 10.1% | 9.0% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.05B | $3.22B | $4.07B | $3.94B | $3.58B | $2.67B | $3.53B | $3.52B | $3.06B | $3.25B | $3.37B | $2.71B |
| Cost of revenue | $1.26B | $62.0M | $72.0M | $1.98B | $1.71B | $1.22B | $1.49B | $1.37B | $689.0M | $1.66B | $2.27B | $864.0M |
| Gross profit | $2.79B | $3.16B | $4.00B | $1.96B | $1.87B | $1.46B | $2.04B | $2.15B | $2.37B | $1.59B | $1.10B | $1.84B |
| Sales, general & admin | $965.0M | $827.0M | $901.0M | $899.0M | $867.0M | $770.0M | $832.0M | $1.51B | $779.0M | $727.0M | $742.0M | $734.0M |
| Total operating expenses | $2.19B | $2.67B | $3.54B | $1.50B | $1.48B | $1.35B | $1.40B | $3.52B | $1.91B | $1.26B | $1.27B | $1.24B |
| Operating income | $594.0M | $496.0M | $450.0M | $453.0M | $382.0M | $111.0M | $640.0M | −$773.0M | $459.0M | $332.0M | −$168.0M | $603.0M |
| Interest income | $724.0M | $734.0M | $748.0M | $754.0M | $721.0M | $718.0M | $737.0M | $739.0M | $697.0M | $665.0M | $635.0M | $686.0M |
| Interest expense | $61.0M | $61.0M | $61.0M | $60.0M | $61.0M | $60.0M | $57.0M | $56.0M | $47.0M | $49.0M | $45.0M | $44.0M |
| Income before taxes | $338.0M | $496.0M | $450.0M | $479.0M | $391.0M | $112.0M | $652.0M | −$706.0M | $459.0M | $332.0M | −$167.0M | $618.0M |
| Income taxes | $63.0M | $175.0M | $536.0M | $90.0M | $98.0M | $29.0M | $144.0M | −$179.0M | $116.0M | $63.0M | −$53.0M | $141.0M |
| Net income | $288.0M | $243.0M | −$117.0M | $358.0M | $278.0M | $83.0M | $450.0M | $266.0M | $306.0M | $248.0M | −$69.0M | $426.0M |
| EBITDA | $833.0M | $772.0M | $733.0M | $740.0M | $643.0M | $367.0M | $891.0M | $558.0M | $694.0M | $547.0M | $32.0M | $800.0M |
| EPS (diluted) | $1.39 | $0.93 | $1.41 | $1.63 | $1.16 | $0.78 | $1.34 | $1.30 | $1.24 | $0.76 | $0.75 | $1.23 |
| Gross margin | 68.8% | 98.1% | 98.2% | 49.6% | 52.2% | 54.6% | 57.7% | 61.0% | 77.5% | 49.0% | 32.7% | 68.1% |
| Operating margin | 14.7% | 15.4% | 11.1% | 11.5% | 10.7% | 4.2% | 18.1% | −22.0% | 15.0% | 10.2% | −5.0% | 22.3% |
| Net margin | 7.1% | 7.5% | −2.9% | 9.1% | 7.8% | 3.1% | 12.8% | 7.6% | 10.0% | 7.6% | −2.0% | 15.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in FNF's financial statements (latest annual report filed February 26, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
FNF financial results
In fiscal year 2025 (ended December 31, 2025), Fidelity National Financial reported revenue of $14.5 billion, up 8.6% from the year before. It had net income of $602.0 million (down 52.6%), a net profit margin of 4.2%. Diluted earnings per share came to $4.98. Over five years revenue grew at an average rate of 6.3% a year.
See the FNF stock overview for the latest quote and news, or the FNF chart for price history and technical indicators.
FNF income statement FAQ
What is Fidelity National Financial's annual revenue?
Fidelity National Financial reported total revenue of $14.5 billion for fiscal year 2025, which ended on December 31, 2025. That was up 8.6% from $13.4 billion the previous year.
Is Fidelity National Financial profitable?
Yes. Fidelity National Financial reported net income of $602.0 million in fiscal 2025, a net profit margin of 4.2%; its operating margin was 9.9%.
What is Fidelity National Financial's gross margin?
Fidelity National Financial's gross margin was 98.2% in fiscal 2025: for every $100 of revenue, Fidelity National Financial kept $98 after the direct cost of its products and services.
How fast is Fidelity National Financial growing?
Revenue grew 6.3% a year on average over the last five fiscal years, from $10.7 billion to $14.5 billion.
What are Fidelity National Financial's earnings per share?
Fidelity National Financial earned $4.98 per diluted share in fiscal 2025, compared with $4.64 a year earlier.
When will Fidelity National Financial report its next earnings?
Fidelity National Financial is expected to report results for the quarter ending September 30, 2026 on November 5, 2026 after the market closes.
When does Fidelity National Financial's fiscal year end?
Fidelity National Financial's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 26, 2026.