01—Abstract
Summary
Summary of the 10-K filed February 24, 2026. Cited figures are marked; the original filing is the authoritative source.
Fidelity National Information Services (FIS) reported solid revenue growth in 2025, driven by its Banking and Capital Markets segments, with a 6%a and 7% increase respectively.
The company has successfully navigated significant strategic changes, including the sale of a majority stake in its Worldpay Merchant Solutions business and the acquisition of Global Payments' Issuer Solutions business, which closed in early January 2026. This acquisition was financed through approximately $7.7 billionb in new debt and the sale of its remaining Worldpay stake. Despite increased debt levels resulting from this acquisition, FIS maintains a strong liquidity position and generated positive operating cash flow, indicating operational resilience.
The company continues to invest in innovation, particularly in digital banking solutions and AI, to enhance its offerings and maintain a competitive edge in the evolving financial technology landscape. Management anticipates these strategic moves and ongoing investments will position FIS for sustained revenue and earnings growth.
02—Key points
Key Highlights
- FIS reported a 6% revenue increase in its Banking segment and a 7% increase in its Capital Markets segment for fiscal year 2025, indicating broad-based growth across its core businesses.
- The company completed the significant acquisition of Global Payments' Issuer Solutions business in early January 2026, funded by $7.7 billion in new debt and the sale of its remaining Worldpay stake.
- FIS successfully managed its debt levels and maintained a strong liquidity position, with $4.7 billion in available liquidity as of December 31, 2025, and positive operating cash flows.
- The company continues to prioritize technology development and innovation, with a focus on digital banking solutions like the Digital One platform and integrating Artificial Intelligence (AI) across its services.
- FIS' long-term relationships with clients, often under multi-year recurring contracts, contribute to high client retention and provide a stable revenue stream.
- The company repurchased approximately $1.3 billion of its common stock in 2025 and had $1.8 billion remaining under its repurchase program authorization as of year-end, demonstrating a commitment to shareholder returns.
- The divestiture of the Worldpay Merchant Solutions business was completed in January 2024, with FIS retaining a 45% equity interest, which was subsequently sold as part of the January 2026 transaction.
03—One dollar
Follow one dollar
Of each $1.00 of revenue in FY2025, Fidelity National Information Services, Inc. kept $0.04.
- Revenue$10.68B100.0%
- Cost of revenue−$6.74B63.1%
- Gross profit$3.94B36.9%
- Operating costs−$2.19B20.6%
- Operating income$1.74B16.3%
- Interest, other & tax−$1.36B12.7%
- Net income$382.0M3.6%
Where FY2025 revenue went
$10.68B- Cost of revenue: $6.74B, 63% of revenue
- SG&A: $2.26B, 21% of revenue
- Interest, other & tax: $1.36B, 13% of revenue
- Net income: $382.0M, 3.6% of revenue
Kept 3.6% as net incomeNet income $382.0M · 3.6%
Full revenue history →04—Financials
Financial Highlights
Figures from 10-KFY2025filed February 24, 2026Financial Statements
FY2025 against FY2024
| Line item | FY2025FY2024 | Change |
|---|---|---|
| Revenue | $10.68B$10.13B | +5.4% |
| Cost of Revenue | $6.74B$6.32B | +6.6% |
| Gross Profit | $3.94B$3.80B | +3.5% |
| SG&A Expenses | $2.26B$2.19B | +3.6% |
| Operating Income | $1.74B$1.71B | +1.9% |
| Net Income | $382.00M$1.45B | −73.7% |
| EPS (Basic) | $0.73$2.62 | −72.1% |
| EPS (Diluted) | $0.73$2.61 | −72.0% |
| Shares Outstanding (Basic) | 523.00M553.00M | −5.4% |
| Shares Outstanding (Diluted) | 525.00M555.00M | −5.4% |
05—Questions
Frequently Asked Questions
What were the major strategic transactions completed by FIS in the reporting period?
In January 2024, FIS completed the sale of a 55% equity interest in its Worldpay Merchant Solutions business. In early January 2026, FIS completed the acquisition of Global Payments' Issuer Solutions business and also sold its remaining equity interest in Worldpay to Global Payments. These transactions represent significant strategic shifts for the company.
How did the acquisition of the Issuer Solutions business impact FIS' financial position?
The acquisition was financed by approximately $7.7 billion of new debt and the sale of FIS' remaining stake in Worldpay. This increased FIS' overall debt levels. However, the company reported strong operating cash flow and maintained a significant available liquidity position as of December 31, 2025, indicating continued financial stability.
What is the outlook for FIS' revenue and growth?
FIS experienced solid revenue growth in 2025, with its Banking and Capital Markets segments showing strong performance. The company is investing in innovation, particularly in digital banking and AI, and leveraging its long-term client relationships to drive future revenue and earnings growth. Management expects these strategies to support sustained growth.
What are the key risks facing FIS?
FIS faces significant risks including cybersecurity threats, data breaches, intense competition, potential regulatory changes, and the integration risks associated with strategic acquisitions. Economic downturns and changes in global financial markets also pose risks to client spending and transaction volumes.
06—Continue