Analysis of Reportable Segments
Fidelity National Information Services Inc. operates in 3 segments: Banking Solutions (Banking); Merchant Solutions (Merchant); and Capital Market Solutions (Capital Markets).
Segment Profit Margin
Fidelity National Information Services Inc., profit margin by reportable segment
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Banking Solutions (Banking) | 42.56% | 44.93% | 43.00% | 41.78% | 39.50% |
| Merchant Solutions (Merchant) | 47.31% | 50.31% | 46.51% | 49.38% | 21.38% |
| Capital Market Solutions (Capital Markets) | 49.76% | 48.44% | 47.01% | 46.14% | 45.21% |
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).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Banking Solutions (Banking) | Banking Solutions (Banking) segment profit margin ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022. |
| Merchant Solutions (Merchant) | Merchant Solutions (Merchant) segment profit margin ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level. | |
| Capital Market Solutions (Capital Markets) | Capital Market Solutions (Capital Markets) segment profit margin ratio improved from 2020 to 2021 and from 2021 to 2022. |
Segment Profit Margin: Banking Solutions (Banking)
Fidelity National Information Services Inc.; Banking Solutions (Banking); segment profit margin calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Adjusted EBITDA | 2,854) | 2,874) | 2,556) | 2,454) | 2,256) |
| Revenue | 6,706) | 6,396) | 5,944) | 5,873) | 5,712) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 42.56% | 44.93% | 43.00% | 41.78% | 39.50% |
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).
1 2022 Calculation
Segment profit margin = 100 × Adjusted EBITDA ÷ Revenue
= 100 × 2,854 ÷ 6,706 = 42.56%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Banking Solutions (Banking) | Banking Solutions (Banking) segment profit margin ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022. |
Segment Profit Margin: Merchant Solutions (Merchant)
Fidelity National Information Services Inc.; Merchant Solutions (Merchant); segment profit margin calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Adjusted EBITDA | 2,258) | 2,262) | 1,752) | 994) | 59) |
| Revenue | 4,773) | 4,496) | 3,767) | 2,013) | 276) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 47.31% | 50.31% | 46.51% | 49.38% | 21.38% |
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).
1 2022 Calculation
Segment profit margin = 100 × Adjusted EBITDA ÷ Revenue
= 100 × 2,258 ÷ 4,773 = 47.31%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Merchant Solutions (Merchant) | Merchant Solutions (Merchant) segment profit margin ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level. |
Segment Profit Margin: Capital Market Solutions (Capital Markets)
Fidelity National Information Services Inc.; Capital Market Solutions (Capital Markets); segment profit margin calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Adjusted EBITDA | 1,375) | 1,271) | 1,147) | 1,129) | 1,081) |
| Revenue | 2,763) | 2,624) | 2,440) | 2,447) | 2,391) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 49.76% | 48.44% | 47.01% | 46.14% | 45.21% |
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).
1 2022 Calculation
Segment profit margin = 100 × Adjusted EBITDA ÷ Revenue
= 100 × 1,375 ÷ 2,763 = 49.76%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Capital Market Solutions (Capital Markets) | Capital Market Solutions (Capital Markets) segment profit margin ratio improved from 2020 to 2021 and from 2021 to 2022. |
Segment Capital Expenditures to Depreciation
Fidelity National Information Services Inc., capital expenditures to depreciation by reportable segment
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Banking Solutions (Banking) | 0.83 | 0.76 | 0.97 | 1.18 | 0.98 |
| Merchant Solutions (Merchant) | 1.43 | 1.16 | 1.20 | 1.22 | 1.10 |
| Capital Market Solutions (Capital Markets) | 0.83 | 0.70 | 0.82 | 1.24 | 1.30 |
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).
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Banking Solutions (Banking) | Banking Solutions (Banking) segment capital expenditures to depreciation ratio deteriorated from 2020 to 2021 but then slightly improved from 2021 to 2022. |
| Merchant Solutions (Merchant) | Merchant Solutions (Merchant) segment capital expenditures to depreciation ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level. | |
| Capital Market Solutions (Capital Markets) | Capital Market Solutions (Capital Markets) segment capital expenditures to depreciation ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level. |
Segment Capital Expenditures to Depreciation: Banking Solutions (Banking)
Fidelity National Information Services Inc.; Banking Solutions (Banking); segment capital expenditures to depreciation calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | 494) | 442) | 498) | 617) | 485) |
| Depreciation and amortization, including purchase accounting amortization | 597) | 583) | 513) | 523) | 494) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 0.83 | 0.76 | 0.97 | 1.18 | 0.98 |
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).
1 2022 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation and amortization, including purchase accounting amortization
= 494 ÷ 597 = 0.83
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Banking Solutions (Banking) | Banking Solutions (Banking) segment capital expenditures to depreciation ratio deteriorated from 2020 to 2021 but then slightly improved from 2021 to 2022. |
Segment Capital Expenditures to Depreciation: Merchant Solutions (Merchant)
Fidelity National Information Services Inc.; Merchant Solutions (Merchant); segment capital expenditures to depreciation calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | 514) | 401) | 365) | 144) | 11) |
| Depreciation and amortization, including purchase accounting amortization | 360) | 346) | 305) | 118) | 10) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 1.43 | 1.16 | 1.20 | 1.22 | 1.10 |
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).
1 2022 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation and amortization, including purchase accounting amortization
= 514 ÷ 360 = 1.43
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Merchant Solutions (Merchant) | Merchant Solutions (Merchant) segment capital expenditures to depreciation ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level. |
Segment Capital Expenditures to Depreciation: Capital Market Solutions (Capital Markets)
Fidelity National Information Services Inc.; Capital Market Solutions (Capital Markets); segment capital expenditures to depreciation calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | 283) | 229) | 223) | 269) | 206) |
| Depreciation and amortization, including purchase accounting amortization | 342) | 329) | 273) | 217) | 158) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 0.83 | 0.70 | 0.82 | 1.24 | 1.30 |
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).
1 2022 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation and amortization, including purchase accounting amortization
= 283 ÷ 342 = 0.83
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Capital Market Solutions (Capital Markets) | Capital Market Solutions (Capital Markets) segment capital expenditures to depreciation ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level. |
Revenue
Fidelity National Information Services Inc., revenue by reportable segment
US$ in millions
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Banking Solutions (Banking) | 6,706) | 6,396) | 5,944) | 5,873) | 5,712) |
| Merchant Solutions (Merchant) | 4,773) | 4,496) | 3,767) | 2,013) | 276) |
| Capital Market Solutions (Capital Markets) | 2,763) | 2,624) | 2,440) | 2,447) | 2,391) |
| Corporate and Other | 286) | 361) | 401) | —) | 44) |
| Total | 14,528) | 13,877) | 12,552) | 10,333) | 8,423) |
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).
Depreciation and amortization, including purchase accounting amortization
Fidelity National Information Services Inc., depreciation and amortization, including purchase accounting amortization by reportable segment
US$ in millions
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Banking Solutions (Banking) | 597) | 583) | 513) | 523) | 494) |
| Merchant Solutions (Merchant) | 360) | 346) | 305) | 118) | 10) |
| Capital Market Solutions (Capital Markets) | 342) | 329) | 273) | 217) | 158) |
| Corporate and Other | 2,547) | 2,757) | 2,623) | 1,586) | 758) |
| Total | 3,846) | 4,015) | 3,714) | 2,444) | 1,420) |
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).
Adjusted EBITDA
Fidelity National Information Services Inc., adjusted ebitda by reportable segment
US$ in millions
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Banking Solutions (Banking) | 2,854) | 2,874) | 2,556) | 2,454) | 2,256) |
| Merchant Solutions (Merchant) | 2,258) | 2,262) | 1,752) | 994) | 59) |
| Capital Market Solutions (Capital Markets) | 1,375) | 1,271) | 1,147) | 1,129) | 1,081) |
| Corporate and Other | (292) | (290) | (195) | (373) | (263) |
| Total | 6,195) | 6,117) | 5,260) | 4,204) | 3,133) |
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).
Capital expenditures
Fidelity National Information Services Inc., capital expenditures by reportable segment
US$ in millions
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Banking Solutions (Banking) | 494) | 442) | 498) | 617) | 485) |
| Merchant Solutions (Merchant) | 514) | 401) | 365) | 144) | 11) |
| Capital Market Solutions (Capital Markets) | 283) | 229) | 223) | 269) | 206) |
| Corporate and Other | 162) | 214) | 64) | 13) | 11) |
| Total | 1,453) | 1,286) | 1,150) | 1,043) | 713) |
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).