CluenexFidelity National Information Services FIS
Fidelity National Information Services scores average on business quality (5.7 of 10). Here is why, in plain words, and what our sealed record shows.
Why it matters
- What Fidelity National Information Services does
Fidelity National Information Services provides core banking, payment solutions, and merchant services to financial institutions globally, generating revenue through transaction fees and software licenses. The company is leaning heavily into cloud-native modernization, highlighted by recent wins like Kredittbanken adopting its Total Issuing platform to upgrade legacy systems.
- What it does best
FIS excels at embedding itself into core bank infrastructure, processing massive transaction volumes that create extreme friction for customers to switch. With an ROE of 22.6%, it generates strong returns on equity compared to peers like FISV at 10.8%, locking banks into its multi-product ecosystem.
- The main risk
The primary vulnerability is anemic top-line growth, with revenue expanding at just 5.4%. If banking clients delay digital upgrades or core modernization budgets freeze, the low 32nd percentile sector revenue rank leaves little room to absorb lost transaction volume.
Quality, check by check
Scored against its own industry, from company filings.
Operating margins sit at 17.8% alongside a 36th percentile FCF margin. Profitability is stable, supported by consistent free cash flow generation of $1.9B, though scale benefits remain muted.
Switching costs anchor its moderate moat, locking financial institutions into complex core software. Sitting in the 37th percentile for operating margin, replacing its infrastructure requires multi-year bank overhauls.
Revenue growth limps along at 5.4%, lagging the broader sector. While cloud software deals like Kredittbanken offer a path forward, expansion remains slow compared to historical peaks.
With total debt of $13.1B and interest coverage at 3.6x, obligations are manageable though debt-heavy. Free cash flow reached $1.9B, marking a solid recovery from prior years. The balance sheet is getting stronger.
Insiders
Executives and directors, from SEC Form 4 filings we read ourselves. Open market trades only; grants, option exercises and pre-planned sales left out.
No open market buys or unplanned sales by executives or directors.
Our sealed record on FIS
Verdicts appear here 30 days after we publish them; members see today's. Each one is in the nightly ledger, fingerprinted the night it was made.
The first sealed verdicts appear here on Oct 11, 2026.
Questions
Fidelity National Information Services scores average on the Cluenex quality check (5.7 of 10), measured against its own industry. Profitability is fair, moat fair, growth slow and financial health strong.
In the last 90 days of SEC Form 4 filings: No open market buys or unplanned sales by executives or directors.
Nov 3, 2026, before the open.
See FIS today
- Today's verdict on FIS, and why
- Fair value with cautious, base and optimistic cases
- The exact price that would change the verdict
- Which stocks each signal names, the night it fires
Cite this page: Cluenex, “Fidelity National Information Services (FIS)”, https://cluenex.com/stocks/fis/, data as of Oct 10, 2026.