Fidelity National Financial, Inc. (FNF) Key Metrics
FNF valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $10.74B
- Enterprise value
- $12.93B
- P/E (TTM)
- 13.9 10-yr median 11.7
- Forward P/E
- 12.8
- PEG ratio
- 0.85
- Price / sales
- 0.7 10-yr median 1.1
- Price / book
- 1.5 10-yr median 1.9
- EV / EBITDA
- — 10-yr median 5.5
- Dividend yield
- 5.19% $2.08 a year
- Beta
- 0.99
FNF key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsFNF valuation Price multiples at each fiscal year-end price.
FNF returns How much profit the business earns on the capital it uses.
FNF per-share figures Results divided by the shares outstanding at year-end.
FNF financial health Debt, liquidity and how easily interest is covered.
FNF efficiency & capital use Working capital cycle and where the cash goes.
FNF valuation history
FNF returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
FNF debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
FNF cash returned to shareholders
FNF price vs earnings per share
FNF key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $14.85B | $14.78B | $13.33B | $10.05B | $13.89B | $10.37B | $11.65B | $8.10B | $10.11B | $7.70B |
| Enterprise value | −$13.24B | −$12.36B | −$8.94B | −$23.75B | −$17.16B | −$16.82B | $8.97B | $5.21B | $7.72B | $7.35B |
| P/E ratio | 24.7 | 11.6 | 25.8 | 7.8 | 5.0 | 7.3 | 11.0 | 12.9 | 13.1 | 11.9 |
| Price / sales | 1.0 | 1.1 | 1.2 | 0.9 | 0.9 | 1.0 | 1.4 | 1.1 | 1.3 | 1.1 |
| Price / book | 2.0 | 1.9 | 1.9 | — | 1.5 | 1.2 | 2.2 | 1.8 | 2.3 | 1.1 |
| Price / free cash flow | 2.3 | 2.2 | 2.1 | 2.4 | 3.5 | 7.1 | 11.4 | 9.4 | 17.2 | 8.8 |
| Price / operating cash flow | 2.3 | 2.2 | 2.1 | 2.3 | 3.4 | 6.6 | 10.4 | 8.6 | 13.7 | 6.6 |
| EV / sales | -0.9 | -0.9 | -0.8 | -2.1 | -1.1 | -1.6 | 1.1 | 0.7 | 1.0 | 1.0 |
| EV / EBITDA | — | — | — | — | — | — | 5.6 | 5.3 | 5.9 | 5.1 |
| EV / free cash flow | — | — | — | — | — | — | 8.8 | 6.1 | 13.1 | 8.4 |
| Earnings yield | 4.1% | 8.6% | 3.9% | 12.9% | 20.1% | 13.8% | 9.1% | 7.7% | 7.6% | 8.4% |
| Free cash flow yield | 42.9% | 45.1% | 47.6% | 42.0% | 28.5% | 14.2% | 8.8% | 10.6% | 5.8% | 11.3% |
| Dividend yield | 3.7% | 3.6% | 3.8% | 4.9% | 3.2% | 3.8% | 3.0% | 4.0% | 2.7% | 3.1% |
| Shareholder yield (dividends + buybacks) | 5.6% | 3.8% | 3.9% | 10.4% | 6.5% | 6.0% | 3.7% | 4.3% | 3.4% | 6.7% |
| Share price at fiscal year-end | $54.59 | $54.14 | $49.20 | $36.28 | $48.38 | $36.25 | $42.05 | $29.15 | $36.38 | $22.74 |
| Per share | ||||||||||
| Revenue per share | $53.33 | $48.92 | $42.51 | $41.35 | $52.49 | $37.42 | $30.57 | $27.32 | $27.56 | $21.42 |
| Earnings per share | $2.21 | $4.65 | $1.91 | $4.67 | $9.75 | $4.99 | $3.83 | $2.26 | $2.77 | $1.92 |
| Operating cash flow per share | $23.98 | $24.96 | $23.90 | $15.72 | $14.25 | $5.52 | $4.05 | $3.39 | $2.65 | $3.43 |
| Free cash flow per share | $23.44 | $24.43 | $23.42 | $15.22 | $13.79 | $5.13 | $3.70 | $3.09 | $2.12 | $2.57 |
| Cash per share | $120.80 | $116.64 | $98.00 | $136.21 | $126.69 | $107.71 | $14.29 | $13.44 | $11.59 | $12.52 |
| Book value per share | $27.29 | $28.40 | $25.49 | −$9.03 | $32.95 | $29.34 | $19.43 | $16.65 | $16.07 | $20.36 |
| Tangible book value per share | −$18.06 | −$14.33 | −$10.95 | −$41.86 | $6.83 | $4.30 | $6.60 | $3.55 | $2.54 | −$0.51 |
| Dividends per share | $2.01 | $1.95 | $1.85 | $1.77 | $1.55 | $1.36 | $1.24 | $1.18 | $1.00 | $0.71 |
| Capex per share | $0.54 | $0.53 | $0.49 | $0.50 | $0.46 | $0.38 | $0.35 | $0.30 | $0.54 | $0.86 |
| Debt per share | $17.53 | $17.24 | $15.80 | $14.21 | $18.53 | $12.64 | $4.62 | $3.01 | $2.96 | $11.47 |
| Shares outstanding | 272.0M | 273.0M | 271.0M | 277.0M | 287.0M | 286.0M | 277.0M | 278.0M | 278.0M | 338.8M |
| Change in shares outstanding | −0.4% | +0.7% | −2.2% | −3.5% | +0.3% | +3.2% | −0.4% | 0.0% | −17.9% | −2.6% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 7.9% | 17.3% | 23.5% | — | 31.3% | 20.7% | 21.2% | 13.8% | 13.6% | 9.6% |
| Return on invested capital (ROIC) | — | — | — | — | — | — | 47.8% | 33.1% | 14.6% | 9.6% |
| Return on assets (ROA) | 0.6% | 1.4% | 0.8% | 2.2% | 5.0% | 4.7% | 10.8% | 5.6% | 4.4% | 3.1% |
| Return on tangible assets | 0.6% | 1.5% | 0.7% | 2.7% | 5.3% | 3.3% | 14.9% | 11.8% | 7.8% | 4.5% |
| Free cash flow margin | 44.0% | 49.9% | 55.1% | 36.8% | 26.3% | 13.7% | 12.1% | 11.3% | 7.7% | 12.0% |
| Income quality (OCF / net income) | 10.83 | 5.37 | 12.53 | 3.37 | 1.46 | 1.11 | 1.06 | 1.50 | 0.96 | 1.79 |
| Financial health | ||||||||||
| Total debt | $4.77B | $4.71B | $4.28B | $3.94B | $5.32B | $3.62B | $1.28B | $836.0M | $824.0M | $3.89B |
| Cash & short-term investments | $32.86B | $31.84B | $26.56B | $37.73B | $36.36B | $30.80B | $3.96B | $3.73B | $3.22B | $4.24B |
| Net debt | −$28.09B | −$27.14B | −$22.28B | −$33.79B | −$31.04B | −$27.19B | −$2.68B | −$2.90B | −$2.40B | −$356.0M |
| Debt / equity | 0.64 | 0.61 | 0.62 | — | 0.56 | 0.43 | 0.24 | 0.18 | 0.18 | 0.56 |
| Debt / assets | 0.04 | 0.05 | 0.05 | 0.07 | 0.09 | 0.07 | 0.12 | 0.09 | 0.06 | 0.18 |
| Net debt / EBITDA | −11.16 | −10.09 | −15.26 | −14.47 | −7.56 | −12.53 | −1.68 | −2.97 | −1.84 | −0.25 |
| Current ratio | 2.44 | 2.79 | — | 280.67 | 315.16 | 299.59 | 97.82 | 115.57 | 15.39 | 0.30 |
| Quick ratio | 2.44 | 2.79 | — | 320.81 | 362.79 | 339.79 | 164.61 | 183.89 | 42.01 | 4.49 |
| Interest coverage | 5.9 | 8.3 | 4.0 | 15.0 | 31.2 | 19.8 | 29.1 | 17.4 | 18.0 | 14.9 |
| Working capital | $30.18B | $29.37B | $32.05B | $43.63B | $40.53B | $34.34B | $4.26B | $4.01B | $1.97B | −$797.0M |
| Invested capital | −$20.67B | −$19.38B | −$15.37B | −$36.30B | −$21.59B | −$18.80B | $2.70B | $1.73B | $2.07B | $6.54B |
| Tangible asset value | −$3.37B | −$3.13B | −$2.42B | −$11.59B | $1.96B | $1.23B | $2.16B | $984.0M | $705.0M | −$172.0M |
| Net current asset value | −$48.90B | −$41.08B | −$46.16B | −$15.83B | −$10.58B | −$7.61B | −$664.0M | −$284.0M | −$7.04B | −$14.12B |
| Graham number | $36.87 | $54.52 | $33.08 | — | $85.00 | $57.39 | $40.94 | $29.09 | $31.67 | $29.64 |
| Graham net-net per share | −$197.30 | −$163.40 | −$237.10 | −$73.90 | −$51.30 | −$37.88 | −$8.01 | −$5.60 | −$27.04 | −$36.04 |
| Capital allocation | ||||||||||
| Dividends paid | $546.0M | $532.0M | $500.0M | $489.0M | $446.0M | $389.0M | $344.0M | $328.0M | $278.0M | $239.0M |
| Share buybacks (net) | $289.0M | $34.0M | $24.0M | $553.0M | $463.0M | $236.0M | $86.0M | $20.0M | $70.0M | $276.0M |
| Dividend payout ratio | 90.7% | 41.9% | 96.7% | 37.8% | 15.9% | 27.3% | 32.4% | 52.2% | 36.1% | 36.8% |
| Dividends + buybacks / free cash flow | 13.1% | 8.5% | 8.3% | 24.7% | 23.0% | 42.6% | 42.0% | 40.5% | 59.2% | 59.1% |
| Capex / revenue | 1.0% | 1.1% | 1.1% | 1.2% | 0.9% | 1.0% | 1.1% | 1.1% | 1.9% | 4.0% |
| Capex / operating cash flow | 2.3% | 2.1% | 2.0% | 3.2% | 3.2% | 7.0% | 8.6% | 8.8% | 20.2% | 25.0% |
| Capex / depreciation | 0.17 | 0.20 | 0.22 | 0.28 | 0.20 | 0.37 | 0.54 | 0.46 | 0.38 | 0.67 |
| Stock-based compensation / revenue | 0.6% | 0.6% | 0.5% | 0.4% | 0.3% | 0.4% | 0.4% | 0.4% | 0.6% | 0.8% |
| SG&A / revenue | 23.7% | 23.6% | 25.2% | 27.9% | 23.4% | 27.6% | 31.8% | 33.4% | 32.1% | 31.3% |
| Efficiency | ||||||||||
| Days sales outstanding | 401.0 | 195.3 | 102.9 | 164.9 | 96.2 | 68.1 | 14.1 | 15.1 | 20.2 | 25.8 |
| Days of inventory on hand | — | — | -1,314.8 | -524.6 | -322.4 | -354.0 | -389.4 | -483.4 | -660.4 | -816.5 |
| Days payables outstanding | 304.4 | 15.4 | 15.4 | 12.1 | 7.3 | 7.4 | 5.8 | 5.9 | 8.9 | 12.1 |
| Cash conversion cycle (days) | 96.6 | 179.9 | -1,227.3 | -371.7 | -233.5 | -293.4 | -381.0 | -474.2 | -649.2 | -802.7 |
| Receivables turnover | 0.91 | 1.87 | 3.55 | 2.21 | 3.79 | 5.36 | 25.82 | 24.22 | 18.07 | 14.13 |
| Payables turnover | 1.20 | 23.72 | 23.69 | 30.29 | 49.95 | 49.03 | 63.24 | 61.62 | 40.82 | 30.14 |
| Asset turnover | 0.14 | 0.15 | 0.17 | 0.19 | 0.27 | 0.35 | 0.86 | 0.67 | 0.44 | 0.35 |
| Average receivables | $15.94B | $7.15B | $3.25B | $5.17B | $3.97B | $2.00B | $328.0M | $313.5M | $424.0M | $513.5M |
| Average payables | $218.5M | $265.0M | $247.5M | $142.5M | $122.0M | $79.5M | $39.5M | $37.0M | $57.0M | $71.5M |
| Average inventory | — | — | −$21.12B | −$6.20B | −$5.38B | −$3.78B | −$2.67B | −$3.02B | −$4.21B | −$4.82B |
| Intangibles / total assets | 11.3% | 12.2% | 12.2% | 15.9% | 12.4% | 14.2% | 33.3% | 40.7% | 27.6% | 33.1% |
Computed from FNF's annual financial statements (latest annual report filed February 26, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
FNF valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Fidelity National Financial traded at 24.7 times earnings, against a 10-year median of 11.7. Based on the latest twelve months, the trailing P/E is 13.9 and the forward P/E is 12.8. Fidelity National Financial earned a return on equity of 7.9% in fiscal 2025. It ended the year with $4.8 billion of debt and $32.9 billion in cash and short-term investments, a net cash position of $28.1 billion. It returned $835.0 million to shareholders: $546.0 million in dividends and $289.0 million in share buybacks, 13% of free cash flow. The share count fell 19.7% from 338.8M to 272.0M over 9 years.
See the FNF income statement, the FNF chart for price history, or the FNF stock overview for the latest quote and news.
FNF key metrics FAQ
What is Fidelity National Financial's P/E ratio?
Fidelity National Financial's trailing P/E ratio is 13.9 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 12.8. At the end of fiscal 2025 it was 24.7, compared with a 10-year median of 11.7.
What is Fidelity National Financial's return on equity?
Fidelity National Financial's return on equity (ROE) was 7.9% in fiscal 2025: net income of $602.0 million on average shareholders' equity of $7.6 billion.
How much debt does Fidelity National Financial have?
Fidelity National Financial had total debt of $4.8 billion at the end of fiscal 2025, a debt-to-equity ratio of 0.64 and more cash than debt.
What is Fidelity National Financial's dividend yield?
Fidelity National Financial's forward dividend yield is 5.19%. Fidelity National Financial paid $546.0 million in dividends in fiscal 2025 ($2.01 per share), a payout ratio of 90.7%.
Does Fidelity National Financial buy back its shares?
Yes. Fidelity National Financial spent $289.0 million on net share repurchases in fiscal 2025 Shares outstanding changed −0.4% over the year, to 272.0M..
What is Fidelity National Financial's free cash flow yield?
Fidelity National Financial generated $6.4 billion of free cash flow in fiscal 2025, a free cash flow yield of 42.9% on its market value at year-end ($14.8 billion).
What is Fidelity National Financial's current ratio?
Fidelity National Financial's current ratio was 2.44 at the end of fiscal 2025: current assets were 2.44 times current liabilities.