Fidelity National Information Services Inc. (NYSE:FIS)

The financial data reveals several notable trends over the five-year period.

Revenue and Gross Profit

Revenue exhibited a consistent upward trend, increasing from US$8,423 million in 2018 to US$14,528 million in 2022. This growth reflects a steady expansion in the company's sales. Correspondingly, gross profit increased each year, rising from US$2,854 million in 2018 to US$5,708 million in 2022, indicating improving profitability at the gross level.

Cost of Revenue

Costs of revenue also increased over time, from US$5,569 million in 2018 to US$8,820 million in 2022, which is consistent with the growth in revenue but at a somewhat slower rate, allowing gross profit margins to expand.

Selling, General and Administrative Expenses

Selling, general and administrative expenses rose significantly from US$1,301 million in 2018 to US$4,118 million in 2022. The sharp increase in 2019 may be attributed to one-time or restructuring costs, and the expenses continued to increase steadily thereafter, which may have pressured operating margins.

Asset Impairments

Asset impairments were relatively minor and stable from 2018 to 2021, ranging between US$87 million and US$202 million. However, in 2022, there is a dramatic increase to US$17,709 million, indicating a significant write-down or revaluation of assets that heavily impacted financial results.

Operating Income (Loss)

Operating income declined sharply from US$1,458 million in 2018 to a loss of US$16,119 million in 2022. While the company maintained positive operating income through 2021, the substantial asset impairments in 2022 appear to have driven the significant operating loss.

Interest Income and Expense

Interest income remained low and relatively stable, fluctuating between US$2 million and US$52 million. Interest expense showed some variability, peaking in 2019 at US$389 million and decreasing to US$216 million in 2021 before increasing somewhat to US$300 million in 2022.

Other Income (Expense), Net

Other income (expense), net, showed negative values in 2018, 2019, and 2021, but positive figures in 2020 and 2022. This relatively volatile pattern suggests occasional gains or losses from non-operating activities.

Earnings Before Income Taxes and Equity Method Investments

Earnings before income taxes and equity method investments declined from US$1,104 million in 2018 to a loss of US$16,331 million in 2022, reflecting the impact of rising costs, asset impairments, and operating losses.

Provision for Income Taxes

Tax provisions varied without a clear pattern, ranging between US$96 million and US$377 million in absolute terms. The relatively stable tax expense suggests taxes did not materially alter net income trends.

Equity Method Investment Earnings (Loss)

Equity method investment earnings were minimal and fluctuated between small losses and a slight gain in 2021. Data for 2022 is missing, indicating possible non-materiality or absence of such earnings.

Net Earnings (Loss)

Net earnings followed a declining trajectory from US$881 million in 2018 to a loss of US$16,708 million in 2022. This decline was exacerbated by the substantial asset impairments and operating losses reported in 2022.

Net Earnings Attributable to Noncontrolling Interests and Common Stockholders

Net earnings attributable to noncontrolling interests remained relatively small and negative, with a slight worsening from US$35 million loss in 2018 to US$12 million loss in 2022. Net earnings attributable to common stockholders mirrored the overall net earnings trend, decreasing sharply from US$846 million profit in 2018 to a US$16,720 million loss in 2022.