10-KPeriod: FY2024

Fidelity National Information Services, Inc. Annual Report, Year Ended Dec 31, 2024

Filed February 13, 2025For Securities:FIS

Summary

Fidelity National Information Services, Inc. (FIS) reported total consolidated revenue of $10.13 billion for the year ended December 31, 2024, an increase of 3% from the prior year. This growth was primarily driven by new sales and increased transaction processing volumes in its Banking and Capital Markets segments, which experienced revenue increases of 2% and 8% respectively. The company also reported operating income of $1.71 billion, up 18% year-over-year, reflecting improved operating leverage and cost management initiatives. A significant event for FIS in 2024 was the completion of the Worldpay Sale, divesting a 55% equity interest in its Worldpay Merchant Solutions business. While this transaction resulted in a reported loss on sale, it has streamlined FIS's focus on its core Banking and Capital Markets segments. The company continues to prioritize investments in innovation and technology modernization to enhance its digital offerings and maintain its competitive edge in the evolving financial technology landscape. FIS also continues its capital allocation strategy, including share repurchases and dividends, while managing its debt levels to maintain an investment-grade credit rating.

Financial Highlights

54 data points
Beta

Revenue

$10.13B

37.6% Gross Margin

Net Income

$1.45B

14.3% Net Margin

EPS (Diluted)

$2.61

Total Assets

$33.78B

Cash & Equivalents

$834.00M

Free Cash Flow

$2.08B

Financial Statements
Beta
Revenue$10.13B
Cost of Revenue$6.32B
Gross Profit$3.80B
SG&A Expenses$2.19B
Operating Income$1.71B
Net Income$1.45B
EPS (Basic)$2.62
EPS (Diluted)$2.61
Shares Outstanding (Basic)553.00M
Shares Outstanding (Diluted)555.00M

Key Highlights

  • 1Total consolidated revenue increased by 3% to $10.13 billion for the year ended December 31, 2024.
  • 2Operating income grew by 18% year-over-year to $1.71 billion, driven by revenue growth and cost efficiencies.
  • 3The company completed the sale of a 55% equity interest in its Worldpay Merchant Solutions business, retaining a 45% interest.
  • 4Banking Solutions revenue grew 2%, driven by recurring revenue and increased transaction processing.
  • 5Capital Market Solutions revenue increased by 8%, boosted by new SaaS sales and higher license sales.
  • 6FIS has $4.55 billion in available liquidity as of December 31, 2024, including $834 million in cash and cash equivalents.
  • 7The company repurchased approximately $4.0 billion in shares during 2024 and declared a quarterly dividend of $0.40 per share.

Frequently Asked Questions

The sale of a 55% equity interest in Worldpay Merchant Solutions was a significant event in 2024. While it resulted in a reported loss on sale, it allowed FIS to focus on its core Banking and Capital Markets segments. The company retains a 45% interest in Worldpay, accounted for using the equity method. The proceeds from the sale were used to reduce debt and repurchase shares, contributing to a stronger balance sheet and focus on core operations.

FIS reported a 3% increase in total consolidated revenue to $10.13 billion for the year ended December 31, 2024. Operating income saw an 18% increase to $1.71 billion, indicating improved profitability driven by revenue growth in its key segments and effective cost management and operating leverage.

FIS operates primarily through two segments: Banking Solutions and Capital Market Solutions. The Banking segment experienced a 2% revenue increase, driven by recurring transaction processing. The Capital Markets segment saw an 8% revenue increase, supported by new SaaS sales and higher license revenue. The company also has a 'Corporate and Other' segment which includes overhead and non-strategic businesses, and saw a 20% revenue decrease.

FIS returned capital to shareholders through share repurchases and dividends. In 2024, the company repurchased approximately $4.0 billion of its common stock and declared a quarterly dividend of $0.40 per share, indicating a commitment to returning value to shareholders while managing its capital structure.