Price to Book Value (P/BV)
since 2005
Calculation
Fidelity National Information Services Inc., P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Total FIS stockholders’ equity1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 27, 2023 | 1.40 | = | 64.52 | ÷ | 45.98 | 45.98 | = | 27,218 | ÷ | 591,935,473 | |
| Feb 23, 2022 | 1.19 | = | 92.25 | ÷ | 77.67 | 77.67 | = | 47,347 | ÷ | 609,590,707 | |
| Feb 18, 2021 | 1.69 | = | 134.26 | ÷ | 79.37 | 79.37 | = | 49,300 | ÷ | 621,128,642 | |
| Feb 20, 2020 | 1.95 | = | 156.78 | ÷ | 80.22 | 80.22 | = | 49,440 | ÷ | 616,321,624 | |
| Feb 21, 2019 | 3.39 | = | 107.12 | ÷ | 31.63 | 31.63 | = | 10,215 | ÷ | 322,920,584 | |
| Feb 22, 2018 | 3.00 | = | 98.03 | ÷ | 32.72 | 32.72 | = | 10,835 | ÷ | 331,179,313 | |
| Feb 23, 2017 | 2.80 | = | 83.09 | ÷ | 29.63 | 29.63 | = | 9,741 | ÷ | 328,780,510 | |
| Feb 26, 2016 | 2.07 | = | 59.49 | ÷ | 28.70 | 28.70 | = | 9,321 | ÷ | 324,815,641 | |
| Feb 27, 2015 | 2.94 | = | 67.59 | ÷ | 23.00 | 23.00 | = | 6,557 | ÷ | 285,066,924 | |
| Feb 28, 2014 | 2.46 | = | 55.61 | ÷ | 22.64 | 22.64 | = | 6,581 | ÷ | 290,668,784 | |
| Feb 26, 2013 | 1.64 | = | 37.04 | ÷ | 22.55 | 22.55 | = | 6,641 | ÷ | 294,489,305 | |
| Feb 24, 2012 | 1.38 | = | 31.07 | ÷ | 22.46 | 22.46 | = | 6,503 | ÷ | 289,527,281 | |
| Feb 25, 2011 | 1.51 | = | 32.03 | ÷ | 21.16 | 21.16 | = | 6,403 | ÷ | 302,549,567 | |
| Feb 26, 2010 | 1.02 | = | 22.54 | ÷ | 22.16 | 22.16 | = | 8,309 | ÷ | 374,923,337 | |
| Feb 27, 2009 | 0.95 | = | 17.50 | ÷ | 18.50 | 18.50 | = | 3,533 | ÷ | 190,920,746 | |
| Feb 29, 2008 | 2.13 | = | 41.49 | ÷ | 19.44 | 19.44 | = | 3,781 | ÷ | 194,479,421 | |
| Mar 1, 2007 | 2.82 | = | 46.29 | ÷ | 16.41 | 16.41 | = | 3,143 | ÷ | 191,509,231 | |
| Mar 16, 2006 | 10.96 | = | 39.75 | ÷ | 3.63 | 3.63 | = | 695 | ÷ | 191,462,141 |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Fidelity National Information Services Inc. Annual Report.
The Price to Book Value (P/BV) ratio exhibits significant volatility over the analyzed period, characterized by an initial sharp contraction, a prolonged phase of expansion, and a subsequent recent decline. The ratio transitioned from an extreme high in 2006 to a valuation below book value by 2009, followed by a steady recovery that peaked in 2019 before contracting again through 2023.
- Initial Valuation Contraction (2006–2009)
- A precipitous decline in the P/BV ratio is observed during this interval. Starting at a peak of 10.96 in 2006, the ratio fell consistently, reaching a period low of 0.95 by February 2009. This decline was driven by a combination of a falling share price, which dropped from 39.75 to 17.50, and a simultaneous increase in book value per share (BVPS) from 3.63 to 18.50, indicating a market correction where the company was valued below its accounting book value.
- Valuation Recovery and Expansion (2010–2019)
- From 2010 to 2019, a sustained upward trend in the P/BV ratio is evident. The ratio rose from 1.02 in 2010 to a peak of 3.39 in 2019. This expansion reflects growing market confidence and a share price that appreciated significantly faster than the growth of the book value. During this phase, the share price rose from 22.54 to 107.12, while the BVPS grew more moderately from 22.16 to 31.63.
- Recent Valuation Compression (2020–2023)
- A notable shift occurred in 2020, where the P/BV ratio dropped to 1.95 despite the share price reaching an all-time high of 156.78. This compression was the result of a massive surge in BVPS, which jumped from 31.63 in 2019 to 80.22 in 2020. In the subsequent years, the P/BV ratio continued to trend downward, reaching 1.19 in 2022, before a slight recovery to 1.40 in 2023. This recent period is characterized by declining share prices and a significant reduction in BVPS to 45.98 by February 2023.
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Comparison to Competitors
Fidelity National Information Services Inc., P/BV, long-term trends, comparison to competitors
| Fidelity National Information Services Inc. | Accenture PLC | Adobe Inc. | AppLovin Corp. | Cadence Design Systems Inc. | Datadog Inc. | International Business Machines Corp. | Intuit Inc. | Microsoft Corp. | Oracle Corp. | Palantir Technologies Inc. | Palo Alto Networks Inc. | Salesforce Inc. | ServiceNow Inc. | Synopsys Inc. | Workday Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 27, 2023 | 1.40 | 7.13 | 11.22 | 2.67 | 18.46 | 17.39 | 5.34 | 7.20 | 12.38 | — | 6.94 | 252.00 | 3.37 | 18.36 | 9.24 | 12.68 |
| Feb 23, 2022 | 1.19 | 11.06 | 15.94 | 7.83 | 13.68 | 48.66 | 5.90 | 15.71 | 15.16 | 41.57 | 10.48 | 71.88 | 4.73 | 30.36 | 10.50 | 18.38 |
| Feb 18, 2021 | 1.69 | 8.51 | 16.53 | — | 14.90 | 31.25 | 5.24 | 17.71 | 13.11 | 14.01 | 28.60 | 20.61 | 4.48 | 40.91 | 7.57 | 15.54 |
| Feb 20, 2020 | 1.95 | 8.15 | 16.03 | — | 9.51 | 16.83 | 6.04 | 20.00 | 10.30 | 8.59 | — | 12.91 | 7.66 | 31.48 | 5.16 | 21.26 |
| Feb 21, 2019 | 3.39 | 9.44 | 12.76 | — | 12.50 | — | 7.40 | 24.12 | 10.02 | 3.84 | — | 22.92 | 9.93 | 39.03 | 3.68 | 18.62 |
| Feb 22, 2018 | 3.00 | 10.08 | 11.50 | — | 11.49 | — | 8.20 | 26.72 | 7.69 | 3.90 | — | 17.37 | 7.78 | 48.15 | 3.99 | 14.93 |
| Feb 23, 2017 | 2.80 | 9.83 | 7.37 | — | 11.10 | — | 9.30 | 24.96 | 6.08 | 3.49 | — | 16.91 | 9.45 | 37.73 | 2.81 | 12.36 |
| Feb 26, 2016 | 2.07 | 11.33 | 6.35 | — | 4.61 | — | 8.92 | 10.00 | 4.66 | 3.66 | — | 32.11 | 10.57 | 15.42 | 2.20 | 13.98 |
| Feb 27, 2015 | 2.94 | 8.96 | 5.26 | — | 4.06 | — | 13.73 | 7.79 | 3.96 | 3.82 | — | 16.81 | 12.79 | 26.77 | 2.12 | 14.17 |
| Feb 28, 2014 | 2.46 | 10.06 | 4.49 | — | 3.74 | — | 8.37 | 5.28 | 3.36 | 3.13 | — | 12.19 | 11.74 | 24.35 | 2.19 | 17.51 |
| Feb 26, 2013 | 1.64 | 11.05 | 2.84 | — | 4.38 | — | 11.77 | 6.46 | 3.68 | 3.11 | — | 19.49 | 12.73 | 19.86 | 1.93 | — |
| Feb 24, 2012 | 1.38 | 10.33 | 2.66 | — | 7.87 | — | 11.39 | 5.46 | 4.07 | 4.12 | — | — | 12.71 | — | 1.84 | — |
| Feb 25, 2011 | 1.51 | 11.06 | 3.29 | — | 9.33 | — | 8.57 | 5.05 | 4.84 | 3.52 | — | — | 9.19 | — | 1.93 | — |
| Feb 26, 2010 | 1.02 | 9.61 | 3.68 | — | 14.21 | — | 7.26 | 3.50 | 5.36 | 4.29 | — | — | 5.65 | — | 1.71 | — |
| Feb 27, 2009 | 0.95 | 9.15 | 2.34 | — | 10.30 | — | 8.61 | 4.76 | 6.47 | 4.66 | — | — | 15.76 | — | 1.68 | — |
| Feb 29, 2008 | 2.13 | 14.69 | 4.24 | — | 1.49 | — | 5.56 | 4.74 | 33.73 | 5.96 | — | — | 17.53 | — | 2.67 | — |
| Mar 1, 2007 | 2.82 | 13.85 | 4.39 | — | 3.45 | — | 4.96 | 6.56 | 19.86 | 5.28 | — | — | 21.98 | — | 3.34 | — |
| Mar 16, 2006 | 10.96 | 13.33 | 12.48 | — | 2.78 | — | 3.80 | 4.73 | 17.90 | 6.31 | — | — | 10.50 | — | 2.57 | — |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Software & Services)
Fidelity National Information Services Inc., P/BV, long-term trends, comparison to sector (software & services)
| Fidelity National Information Services Inc. | Software & Services | |
|---|---|---|
| Feb 27, 2023 | 1.40 | 10.54 |
| Feb 23, 2022 | 1.19 | 13.51 |
| Feb 18, 2021 | 1.69 | 11.67 |
| Feb 20, 2020 | 1.95 | 10.06 |
| Feb 21, 2019 | 3.39 | 8.75 |
| Feb 22, 2018 | 3.00 | 7.21 |
| Feb 23, 2017 | 2.80 | 6.29 |
| Feb 26, 2016 | 2.07 | 5.39 |
| Feb 27, 2015 | 2.94 | 5.16 |
| Feb 28, 2014 | 2.46 | 4.47 |
| Feb 26, 2013 | 1.64 | 4.89 |
| Feb 24, 2012 | 1.38 | 5.40 |
| Feb 25, 2011 | 1.51 | 5.32 |
| Feb 26, 2010 | 1.02 | 5.46 |
| Feb 27, 2009 | 0.95 | 6.11 |
| Feb 29, 2008 | 2.13 | 15.50 |
| Mar 1, 2007 | 2.82 | 11.43 |
| Mar 16, 2006 | 10.96 | 11.13 |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Information Technology)
Fidelity National Information Services Inc., P/BV, long-term trends, comparison to industry (information technology)
| Fidelity National Information Services Inc. | Information Technology | |
|---|---|---|
| Feb 27, 2023 | 1.40 | 10.25 |
| Feb 23, 2022 | 1.19 | 12.37 |
| Feb 18, 2021 | 1.69 | 10.94 |
| Feb 20, 2020 | 1.95 | 8.41 |
| Feb 21, 2019 | 3.39 | 7.00 |
| Feb 22, 2018 | 3.00 | 5.46 |
| Feb 23, 2017 | 2.80 | 4.53 |
| Feb 26, 2016 | 2.07 | 4.30 |
| Feb 27, 2015 | 2.94 | 4.36 |
| Feb 28, 2014 | 2.46 | 3.50 |
| Feb 26, 2013 | 1.64 | 3.75 |
| Feb 24, 2012 | 1.38 | 3.98 |
| Feb 25, 2011 | 1.51 | 4.16 |
| Feb 26, 2010 | 1.02 | 4.31 |
| Feb 27, 2009 | 0.95 | 4.00 |
| Feb 29, 2008 | 2.13 | 8.64 |
| Mar 1, 2007 | 2.82 | 7.24 |
| Mar 16, 2006 | 10.96 | 7.40 |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).