Stock Analysis on Net

Fidelity National Information Services Inc. (NYSE:FIS)

This company has been moved to the archive! The financial data has not been updated since May 2, 2023.

Enterprise Value (EV) 

Microsoft Excel

Current Enterprise Value (EV)

Fidelity National Information Services Inc., current enterprise value calculation

Microsoft Excel
Current share price (P) $53.13
No. shares of common stock outstanding 592,436,518
US$ in millions
Common equity (market value)1 31,476
Add: Preferred stock, $0.01 par value, none issued and outstanding (per books)
Add: Noncontrolling interest (per books) 8
Total equity 31,484
Add: Short-term borrowings (per books) 3,797
Add: Current portion of long-term debt (per books) 2,133
Add: Long-term debt, excluding current portion (per books) 14,207
Total equity and debt 51,621
Less: Cash and cash equivalents 2,188
Enterprise value (EV) 49,433

Based on: 10-K (reporting date: 2022-12-31).

1 Common equity (market value) = Share price × No. shares of common stock outstanding
= 53.13 × 592,436,518


Historical Enterprise Value (EV)

Fidelity National Information Services Inc., EV calculation

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Share price1, 2 $64.52 $92.25 $134.26 $156.78 $107.12
No. shares of common stock outstanding1 591,935,473 609,590,707 621,128,642 616,321,624 322,920,584
US$ in millions
Common equity (market value)3 38,192 56,235 83,393 96,627 34,591
Add: Preferred stock, $0.01 par value, none issued and outstanding (book value)
Add: Noncontrolling interest (book value) 8 11 13 16 7
Total equity 38,200 56,246 83,406 96,643 34,598
Add: Short-term borrowings (book value) 3,797 3,911 2,750 2,823 267
Add: Current portion of long-term debt (book value) 2,133 1,617 1,314 140 48
Add: Long-term debt, excluding current portion (book value) 14,207 14,825 15,951 17,229 8,670
Total equity and debt 58,337 76,599 103,421 116,835 43,583
Less: Cash and cash equivalents 2,188 2,010 1,959 1,152 703
Enterprise value (EV) 56,149 74,589 101,462 115,683 42,880

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 Data adjusted for splits and stock dividends.

2 Closing price as at the filing date of Fidelity National Information Services Inc. Annual Report.

3 2022 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 64.52 × 591,935,473


Common Equity (Market Value)

The market value of common equity demonstrated a significant increase from 34,591 million USD in 2018 to a peak of 96,627 million USD in 2019. Following this peak, a downward trend is evident, with values declining to 83,393 million USD in 2020, further decreasing to 56,235 million USD in 2021, and reaching 38,192 million USD in 2022. This reflects a substantial reduction in market perception of equity value over the last three years after a strong rise in the earlier period.

Total Equity

Total equity closely mirrors the trend observed in common equity market value. It exhibited an increase from 34,598 million USD in 2018 to 96,643 million USD in 2019, followed by a decline to 83,406 million USD in 2020. The decrease continued to 56,246 million USD in 2021 and then to 38,200 million USD in 2022. This highlights a consistent contraction in shareholders' equity after a peak in 2019, suggesting possible changes in retained earnings, capital adjustments, or other equity components.

Total Equity and Debt

The combined total of equity and debt increased significantly from 43,583 million USD in 2018 to 116,835 million USD in 2019, followed by a decline in subsequent years to 103,421 million USD in 2020, then a sharper drop to 76,599 million USD in 2021, and further down to 58,337 million USD in 2022. This pattern indicates a reduction in the company’s overall financing, both from equity and debt sources, after the 2019 peak, reflecting possible debt repayments, equity withdrawals, or decreases in asset financing needs.

Enterprise Value (EV)

Enterprise value rose markedly from 42,880 million USD in 2018 to 115,683 million USD in 2019, reaching the highest point during the period analyzed. Subsequently, EV decreased to 101,462 million USD in 2020, followed by further declines to 74,589 million USD in 2021, and 56,149 million USD in 2022. The pattern of descending enterprise value after 2019 reflects reduced market capitalization combined with alterations in debt and cash holdings, ultimately indicating diminished market valuation and overall company value in recent years.

Overall Trends and Insights

The data reveals a pronounced peak in company valuation and capitalization metrics around 2019, followed by a consistent declining trend across all key financial indicators through 2022. The sharp rise and subsequent decrease could be influenced by external market conditions, internal strategic decisions, or operational performance factors. The parallel movement of market equity, total equity, total capital employed (equity and debt), and enterprise value suggests broad shifts rather than isolated metric changes. This downward trend warrants further investigation into underlying causes, such as profitability, risk, cash flows, or market dynamics affecting the company during this period.