Common Stock Valuation Ratios (Price Multiples)
Quarterly Data
Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).
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- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Liquidity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Price to FCFE (P/FCFE)
- Operating Profit Margin since 2005
- Price to Sales (P/S) since 2005
- Analysis of Revenues
- Analysis of Debt
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Historical Valuation Ratios (Summary)
Fidelity National Information Services Inc., historical price multiples (quarterly data)
Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
- Price to Earnings (P/E) Ratio
- The Price to Earnings ratio shows significant volatility and extreme fluctuations over the periods. Beginning at 40.89 in March 2019, it rose sharply to 106.51 by September 2019 and peaked dramatically at 3040.19 in September 2020. After this peak, there was a notable decline with fluctuations, settling around 38.1 in March 2023. This trend indicates periods of overvaluation followed by corrections, suggesting highly variable earnings relative to the stock price during these years.
- Price to Operating Profit (P/OP) Ratio
- This ratio mirrors the volatility observed in the P/E ratio, starting at 23.73 in March 2019 and reaching a peak of 218.72 in September 2020. Thereafter, it decreased steadily to around 24.66 by March 2023. The initial rise and subsequent fluctuations reflect significant changes in operating profitability relative to the company's valuation, highlighting periods of market optimism and subsequent adjustment.
- Price to Sales (P/S) Ratio
- The Price to Sales ratio demonstrates a clearer downward trend, starting at 4.11 in March 2019 with some increase up to 9.35 in March 2020. Following this peak, it shows a consistent decline to approximately 2.16 by March 2023. This pattern suggests that the company’s stock price has been increasingly valued more conservatively relative to sales, possibly due to slower sales growth or market repositioning over time.
- Price to Book Value (P/BV) Ratio
- The Price to Book Value ratio shows moderate volatility with a notable spike to 8.04 in June 2019, followed by a sharp decline to below 2 in subsequent periods. From March 2020 onwards, it mostly fluctuates between 1.16 and 1.94, and dips as low as 0.79 in September 2022 before rising slightly again. Overall, this ratio indicates a transition from heightened market expectations about the company's net asset value to a more subdued valuation relative to book value in recent periods.
Price to Earnings (P/E)
Fidelity National Information Services Inc., historical P/E calculation (quarterly data)
| Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||
| Net earnings (loss) attributable to FIS common stockholders (in millions) | ||||||||||||||||||||||||||||
| Earnings per share (EPS)2 | ||||||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||||||
| P/E ratio4 | ||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||
| P/E Ratio, Competitors5 | ||||||||||||||||||||||||||||
| Accenture PLC | ||||||||||||||||||||||||||||
| Adobe Inc. | ||||||||||||||||||||||||||||
| Cadence Design Systems Inc. | ||||||||||||||||||||||||||||
| CrowdStrike Holdings Inc. | ||||||||||||||||||||||||||||
| Fair Isaac Corp. | ||||||||||||||||||||||||||||
| 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. | ||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
1 Data adjusted for splits and stock dividends.
2 Q1 2023 Calculation
EPS
= (Net earnings (loss) attributable to FIS common stockholdersQ1 2023
+ Net earnings (loss) attributable to FIS common stockholdersQ4 2022
+ Net earnings (loss) attributable to FIS common stockholdersQ3 2022
+ Net earnings (loss) attributable to FIS common stockholdersQ2 2022)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Fidelity National Information Services Inc. Quarterly or Annual Report.
4 Q1 2023 Calculation
P/E ratio = Share price ÷ EPS
= ÷ =
5 Click competitor name to see calculations.
Over the observed period, the share price exhibited significant fluctuations. Starting at $98.49 in March 2018, the price generally increased, peaking near $156.78 by December 2019, followed by a decline to approximately $53.13 in March 2023. The trend indicates an initial growth phase through 2019, a period of volatility amid 2020 and 2021, and a marked decline through 2022 into early 2023.
Earnings per share (EPS) data, beginning in March 2019, reveal notable variability and overall weakening before a steep negative shift in 2023. Initial EPS values ranged around 2.62 to 1.23 in early periods, followed by earnings hovering near zero or slightly positive/negative in 2020 and 2021. The company regained some positive EPS momentum into 2022, peaking at 1.58 in December 2022. However, a drastic decline occurred in the first quarter of 2023, with EPS falling sharply to approximately -28.25 and maintaining a similar negative value in the following quarter.
The price-to-earnings (P/E) ratio, available from March 2019 onwards, reflects an unstable and generally high valuation relative to earnings. It surged from around 40.89 in March 2019 to elevated extremes over 300 and even 3000 in late 2020, indicative of either earnings compression or high market valuation. The ratio remained elevated but decreased gradually through 2021 and 2022, settling around 38.1 by March 2023. Notably, P/E data is missing for several quarters, correlating with periods of negative or near-zero EPS where the ratio is not defined or meaningful.
- Share Price Trend
- Growth through 2018-2019, peak at end of 2019, volatility in 2020-2021, sharp decline through 2022-2023.
- EPS Dynamics
- Moderate positive EPS in early periods, oscillations near zero in mid-periods, recovery attempts in 2022, followed by severe negative earnings in 2023.
- P/E Ratio Behavior
- High and volatile ratios, with peaks corresponding to low or negative earnings periods; a gradual decrease in ratio as earnings somewhat normalized before negative earnings rendered the ratio unusable.
Overall, the data reflects a period of significant earnings instability with a correlated impact on share price valuation. The marked negative EPS in 2023 suggests an exceptional event or downturn adversely affecting profitability, corresponding with a steep share price reduction. The elevated P/E ratios during times of reduced or negative earnings imply challenges in maintaining consistent profitability, with valuation heavily influenced by earnings performance variability.
Price to Operating Profit (P/OP)
Fidelity National Information Services Inc., historical P/OP calculation (quarterly data)
| Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||
| Operating income (loss) (in millions) | ||||||||||||||||||||||||||||
| Operating profit per share2 | ||||||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||||||
| P/OP ratio4 | ||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||
| P/OP Ratio, Competitors5 | ||||||||||||||||||||||||||||
| Accenture PLC | ||||||||||||||||||||||||||||
| Adobe Inc. | ||||||||||||||||||||||||||||
| Cadence Design Systems Inc. | ||||||||||||||||||||||||||||
| CrowdStrike Holdings Inc. | ||||||||||||||||||||||||||||
| Fair Isaac Corp. | ||||||||||||||||||||||||||||
| 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. | ||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
1 Data adjusted for splits and stock dividends.
2 Q1 2023 Calculation
Operating profit per share
= (Operating income (loss)Q1 2023
+ Operating income (loss)Q4 2022
+ Operating income (loss)Q3 2022
+ Operating income (loss)Q2 2022)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Fidelity National Information Services Inc. Quarterly or Annual Report.
4 Q1 2023 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= ÷ =
5 Click competitor name to see calculations.
The data reveals notable fluctuations in share price, operating profit per share, and the price-to-operating profit (P/OP) ratio over the analyzed periods. The trends for each key financial measure are summarized below.
- Share Price (US$)
- The share price showed a general upward trend from March 2018 through December 2019, increasing from approximately 98.49 to a peak of 156.78. However, starting in March 2020, the share price exhibited considerable volatility and an overall declining trajectory. It fell sharply from around 129.44 in March 2020 to 53.13 by March 2023, marking a substantial decrease over three years. Notably, there were intermittent recoveries during 2020 and early 2021, but these were unsustained. The marked decline post-2021 suggests significant market or operational challenges.
- Operating Profit Per Share (US$)
- Operating profit per share data starts being available from March 2019 onward. Initially, the metric was relatively strong, with values around 4.52 to 4.57 in early 2019, before decreasing sharply in subsequent quarters to a low of 0.67 by September 2020. Following this trough, the operating profit per share showed a moderate recovery trend, increasing gradually to around 2.44 by March 2023. The values for the final two periods (March and June 2023) are abnormally negative (-27.23 and -26.9), indicating either a significant loss or possibly an accounting or reporting anomaly. The sharp initial decline followed by some recovery and eventual severe negative values suggests a period of financial stress, followed by instability or extraordinary circumstances.
- Price to Operating Profit (P/OP) Ratio
- The P/OP ratio, which relates the share price to operating profits, exhibits volatility consistent with the trends in share price and operating profit per share. Early in the data range (2019), the ratio was in the mid-20s but increased dramatically to a peak exceeding 200 by September 2020. This spike indicates that either the share price was relatively high compared to operating profits or that operating profits had fallen steeply, or both. After this peak, the ratio gradually declined, reaching the mid-20s again by March 2023. The declining ratio towards the end of the period may reflect improving operating profit relative to the share price or a reduced share price relative to profits. Data is missing for the very final periods. Overall, the ratio's volatility underscores periods of market uncertainty or operational profitability challenges.
In summary, the company experienced a strong share price performance until late 2019, after which considerable volatility and an overall decline ensued. Operating profits per share, initially robust, dropped sharply through 2020, partially recovered in subsequent years but ended in a sharply negative position. The P/OP ratio’s high volatility aligns with these patterns, signaling fluctuating perceptions of earnings power versus market value. The data reflects a challenging financial environment post-2019 with indications of operational difficulties or market-driven pressures impacting valuation and profitability.
Price to Sales (P/S)
Fidelity National Information Services Inc., historical P/S calculation (quarterly data)
| Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||
| Revenue (in millions) | ||||||||||||||||||||||||||||
| Sales per share2 | ||||||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||||||
| P/S ratio4 | ||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||
| P/S Ratio, Competitors5 | ||||||||||||||||||||||||||||
| Accenture PLC | ||||||||||||||||||||||||||||
| Adobe Inc. | ||||||||||||||||||||||||||||
| Cadence Design Systems Inc. | ||||||||||||||||||||||||||||
| CrowdStrike Holdings Inc. | ||||||||||||||||||||||||||||
| Fair Isaac Corp. | ||||||||||||||||||||||||||||
| 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. | ||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
1 Data adjusted for splits and stock dividends.
2 Q1 2023 Calculation
Sales per share
= (RevenueQ1 2023
+ RevenueQ4 2022
+ RevenueQ3 2022
+ RevenueQ2 2022)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Fidelity National Information Services Inc. Quarterly or Annual Report.
4 Q1 2023 Calculation
P/S ratio = Share price ÷ Sales per share
= ÷ =
5 Click competitor name to see calculations.
- Share Price Trend
- The share price exhibited an overall increase from early 2018 through 2019, peaking at 156.78 US$ in December 2019. Subsequently, there was a notable volatility through 2020 and 2021, with fluctuations reaching highs of around 151.80 US$ in March 2021 and lows near 92.25 US$ by December 2021. From early 2022 through the first quarter of 2023, there was a consistent downward trend, with the share price decreasing sharply to 53.13 US$ by March 2023.
- Sales Per Share Trend
- Sales per share data, available from March 2019, showed a steady upward trend over the period analyzed. Starting at 13.73 US$ in September 2019, sales per share gradually increased each quarter, reaching 24.55 US$ by March 2023. This progression indicates consistent revenue growth on a per-share basis over the four-year span, with no significant downturns despite fluctuations in the share price.
- Price-to-Sales (P/S) Ratio Analysis
- The P/S ratio reveals interesting dynamics when compared with sales per share and share price. Initially, from March 2019 to December 2019, the P/S ratio was notably elevated, peaking around 9.54 in September 2019, reflecting relatively high valuation compared to sales. This high ratio declined substantially over time, moving from a high range of approximately 8-9 down to a range of about 2.16 by March 2023. The decline in the P/S ratio towards the end of the timeframe suggests that share prices fell more steeply relative to the steady increase in sales per share, indicating a possible market reevaluation of the company’s revenue growth prospects or external macroeconomic impacts affecting stock valuation.
- Overall Interpretation
- Despite continuous growth in sales per share, the share price faced significant volatility and a notable decline in the latest periods. The decreasing P/S ratio supports the observation that the market’s valuation of the company’s sales diminished over time, especially after the peak in 2019. This could be interpreted as investors becoming more cautious or adjusting their expectations about future growth or profitability. The divergence between robust sales growth and declining share price highlights a potential disconnection between operational performance and market sentiment in the analyzed periods.
Price to Book Value (P/BV)
Fidelity National Information Services Inc., historical P/BV calculation (quarterly data)
| Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||
| Total FIS stockholders’ equity (in millions) | ||||||||||||||||||||||||||||
| Book value per share (BVPS)2 | ||||||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||||||
| P/BV ratio4 | ||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||
| P/BV Ratio, Competitors5 | ||||||||||||||||||||||||||||
| Accenture PLC | ||||||||||||||||||||||||||||
| Adobe Inc. | ||||||||||||||||||||||||||||
| Cadence Design Systems Inc. | ||||||||||||||||||||||||||||
| CrowdStrike Holdings Inc. | ||||||||||||||||||||||||||||
| Fair Isaac Corp. | ||||||||||||||||||||||||||||
| 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. | ||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
1 Data adjusted for splits and stock dividends.
2 Q1 2023 Calculation
BVPS = Total FIS stockholders’ equity ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of Fidelity National Information Services Inc. Quarterly or Annual Report.
4 Q1 2023 Calculation
P/BV ratio = Share price ÷ BVPS
= ÷ =
5 Click competitor name to see calculations.
The data reveals several notable trends in the share price, book value per share (BVPS), and price-to-book value (P/BV) ratio over the observed quarterly periods.
- Share Price
- The share price demonstrated an overall ascending trajectory from March 2018 through the end of 2019, increasing from $98.49 to a peak of $156.78 in December 2019. During 2020, share prices experienced volatility, dropping sharply in March ($129.44) and fluctuating through the year, ending 2020 at $134.26. In 2021, the price peaked at $151.80 in March but then declined steadily, reaching $92.25 by December. From 2022 onwards, the share price showed further decreases, ending at $53.13 in March 2023, which is markedly lower than the earlier highs.
- Book Value Per Share (BVPS)
- The BVPS remained relatively stable across most periods, fluctuating mildly around the $30 to $80 range. Notably, a substantial jump was observed in June 2019, where the BVPS rose from $30.58 in March 2019 to $16.28, then sharply rebounded to $80.04 in September 2019 and held close to this level throughout 2020 and 2021. However, in 2022, BVPS began to decline steadily from $76.99 in March 2022 to $45.74 in March 2023, indicating a possible decrease in net asset value per share during this time frame.
- Price-to-Book Value (P/BV) Ratio
- The P/BV ratio exhibited significant volatility over the periods. Early in the period (2018), it was relatively stable around the 3.1 to 3.8 range. A remarkable spike occurred in June 2019, reaching a ratio of 8.04, likely due to irregularities or recalculations in BVPS given the concurrent BVPS drop. Subsequent quarters saw a sharp decline to around 1.65-1.95, holding mostly below 2.0 from late 2019 until 2021, demonstrating that the share price was trading close to or slightly above book value at that time. From 2022 onward, the ratio decreased below 1.0 in March 2022, touching 0.79, before recovering partially to 1.16 by March 2023. This suggests that shares traded at a discount to book value during this recent period, reflecting investors’ diminished confidence or valuation adjustment relative to the company’s net assets.
In summary, the company experienced strong share price appreciation until late 2019, followed by heightened volatility and a pronounced decline in valuation multiples into early 2023. The BVPS showed significant stability with a high plateau during 2019-2021 before a decline beginning in 2022. The P/BV ratio peaked notably in mid-2019, then normalized to lower levels, and dipped below 1.0 in early 2022, indicating a period where market price lagged the book value per share. These patterns may reflect broader market conditions, company-specific events, or changes in investor sentiment over time.