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Fidelity National Financial

NYSE:FNF
Snowflake Description

Solid track record with excellent balance sheet and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FNF
NYSE
$11B
Market Cap
  1. Home
  2. US
  3. Insurance
Company description

Fidelity National Financial, Inc., together with its subsidiaries, provides various insurance products in the United States. The last earnings update was 59 days ago. More info.


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FNF Share Price and Events
7 Day Returns
0.3%
NYSE:FNF
3.7%
US Insurance
0.8%
US Market
1 Year Returns
2.3%
NYSE:FNF
4%
US Insurance
5.9%
US Market
FNF Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Fidelity National Financial (FNF) 0.3% 13.1% 13% 2.3% 19.1% 23.4%
US Insurance 3.7% 3.1% 9.9% 4% 30.9% 44.5%
US Market 0.8% 2.6% 10.6% 5.9% 37.7% 45.5%
1 Year Return vs Industry and Market
  • FNF underperformed the Insurance industry which returned 4% over the past year.
  • FNF underperformed the Market in United States of America which returned 5.9% over the past year.
Price Volatility
FNF
Industry
5yr Volatility vs Market

FNF Value

 Is Fidelity National Financial undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Fidelity National Financial to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Fidelity National Financial.

NYSE:FNF Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $18.18 * 8.8%
$1.60
Book Value of Equity per Share Weighted future Book Value estimates from 3 analysts. $18.18
Discount Rate (Cost of Equity) See below 7.8%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:FNF
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Insurance Unlevered Beta Simply Wall St/ S&P Global 0.74
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.739 (1 + (1- 21%) (7.8%))
0.856
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.86
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.856 * 5.96%)
7.83%

Discounted Cash Flow Calculation for NYSE:FNF using Excess Returns Model Model

The calculations below outline how an intrinsic value for Fidelity National Financial is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NYSE:FNF Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (8.8% – 7.83%) * $18.18)
$0.18
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $0.18 / (7.83% - 2.73%)
$3.52
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $18.18 + $3.52
$21.69
NYSE:FNF Discount to Share Price
Calculation Result
Value per share (USD) From above. $21.69
Current discount Discount to share price of $38.92
= -1 x ($38.92 - $21.69) / $21.69
-79.4%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Fidelity National Financial is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Fidelity National Financial's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Fidelity National Financial's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:FNF PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $2.30
NYSE:FNF Share Price ** NYSE (2019-04-18) in USD $38.92
United States of America Insurance Industry PE Ratio Median Figure of 86 Publicly-Listed Insurance Companies 18.07x
United States of America Market PE Ratio Median Figure of 3,078 Publicly-Listed Companies 18.23x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Fidelity National Financial.

NYSE:FNF PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:FNF Share Price ÷ EPS (both in USD)

= 38.92 ÷ 2.30

16.92x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Fidelity National Financial is good value based on earnings compared to the US Insurance industry average.
  • Fidelity National Financial is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Fidelity National Financial's expected growth come at a high price?
Raw Data
NYSE:FNF PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 16.92x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
5.9%per year
United States of America Insurance Industry PEG Ratio Median Figure of 66 Publicly-Listed Insurance Companies 1.26x
United States of America Market PEG Ratio Median Figure of 2,108 Publicly-Listed Companies 1.56x

*Line of best fit is calculated by linear regression .

NYSE:FNF PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 16.92x ÷ 5.9%

2.84x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Fidelity National Financial is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Fidelity National Financial's assets?
Raw Data
NYSE:FNF PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $16.81
NYSE:FNF Share Price * NYSE (2019-04-18) in USD $38.92
United States of America Insurance Industry PB Ratio Median Figure of 117 Publicly-Listed Insurance Companies 1.23x
United States of America Market PB Ratio Median Figure of 5,172 Publicly-Listed Companies 1.93x
NYSE:FNF PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:FNF Share Price ÷ Book Value per Share (both in USD)

= 38.92 ÷ 16.81

2.31x

* Primary Listing of Fidelity National Financial.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Fidelity National Financial is overvalued based on assets compared to the US Insurance industry average.
X
Value checks
We assess Fidelity National Financial's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Insurance industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Insurance industry average (and greater than 0)? (1 check)
  5. Fidelity National Financial has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

FNF Future Performance

 How is Fidelity National Financial expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
5.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Fidelity National Financial expected to grow at an attractive rate?
  • Fidelity National Financial's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Fidelity National Financial's earnings growth is positive but not above the United States of America market average.
  • Fidelity National Financial's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:FNF Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:FNF Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 5.9%
NYSE:FNF Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 1.2%
United States of America Insurance Industry Earnings Growth Rate Market Cap Weighted Average 17.2%
United States of America Insurance Industry Revenue Growth Rate Market Cap Weighted Average 3.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:FNF Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:FNF Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 8,149 762 1
2020-12-31 7,622 954 707 5
2019-12-31 7,491 886 674 5
NYSE:FNF Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 7,592 943 628
2018-09-30 7,875 845 840
2018-06-30 7,777 796 756
2018-03-31 7,711 751 554
2017-12-31 7,668 737 507
2017-09-30 6,623 980 466
2017-06-30 6,903 1,079 460
2017-03-31 6,857 1,074 561
2016-12-31 7,260 1,162 584
2016-09-30 8,614 1,023 513
2016-06-30 8,739 936 517
2016-03-31 9,127 1,002 527

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Fidelity National Financial's earnings are expected to grow by 5.9% yearly, however this is not considered high growth (20% yearly).
  • Fidelity National Financial's revenue is expected to grow by 1.2% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:FNF Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from Fidelity National Financial Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:FNF Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 3.03 3.03 3.03 1.00
2020-12-31 2.68 2.91 2.48 5.00
2019-12-31 2.46 2.59 2.34 5.00
NYSE:FNF Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 2.30
2018-09-30 3.08
2018-06-30 2.78
2018-03-31 2.04
2017-12-31 1.87
2017-09-30 1.72
2017-06-30 1.70
2017-03-31 2.07
2016-12-31 2.15
2016-09-30 1.88
2016-06-30 1.89
2016-03-31 1.91

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Fidelity National Financial is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Fidelity National Financial's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Fidelity National Financial has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

FNF Past Performance

  How has Fidelity National Financial performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Fidelity National Financial's growth in the last year to its industry (Insurance).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Fidelity National Financial's year on year earnings growth rate has been positive over the past 5 years.
  • Fidelity National Financial's 1-year earnings growth exceeds its 5-year average (23.9% vs 10.6%)
  • Fidelity National Financial's earnings growth has exceeded the US Insurance industry average in the past year (23.9% vs -6.1%).
Earnings and Revenue History
Fidelity National Financial's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Fidelity National Financial Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:FNF Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 7,592.00 628.00 2,538.00
2018-09-30 7,875.00 840.00 2,564.00
2018-06-30 7,777.00 756.00 2,537.00
2018-03-31 7,711.00 554.00 2,498.00
2017-12-31 7,668.00 507.00 2,460.00
2017-09-30 6,623.00 466.00 2,297.00
2017-06-30 6,903.00 460.00 2,300.00
2017-03-31 6,857.00 561.00 2,192.00
2016-12-31 7,260.00 584.00 2,275.00
2016-09-30 8,614.00 513.00 2,478.00
2016-06-30 8,739.00 517.00 2,528.00
2016-03-31 9,127.00 527.00 2,700.00
2015-12-31 6,648.00 480.00 2,137.00
2015-09-30 8,957.00 780.00 2,595.00
2015-06-30 8,658.00 757.00 2,541.00
2015-03-31 8,313.00 691.00 2,464.00
2014-12-31 8,038.00 576.00 2,540.00
2014-09-30 6,881.00 246.00 2,345.00
2014-06-30 6,962.00 213.00 2,265.00
2014-03-31 7,185.00 260.00 2,198.00
2013-12-31 7,441.00 378.00 2,061.00
2013-09-30 8,722.00 475.00 2,302.00
2013-06-30 8,581.00 616.00 2,226.00
2013-03-31 8,026.00 615.00 2,127.00
2012-12-31 6,626.00 509.00 1,834.00
2012-09-30 6,212.90 533.40 1,852.20
2012-06-30 5,381.00 372.20 1,779.20

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Fidelity National Financial has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Fidelity National Financial used its assets more efficiently than the US Insurance industry average last year based on Return on Assets.
  • Fidelity National Financial has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Fidelity National Financial's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Insurance industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Fidelity National Financial has a total score of 5/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

FNF Health

 How is Fidelity National Financial's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Fidelity National Financial's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Fidelity National Financial is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Fidelity National Financial's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Fidelity National Financial's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 2.9x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Fidelity National Financial Company Filings, last reported 3 months ago.

NYSE:FNF Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 4,972.00 836.00 1,317.00
2018-09-30 5,032.00 836.00 1,271.00
2018-06-30 4,973.00 734.00 1,082.00
2018-03-31 4,823.00 748.00 884.00
2017-12-31 4,811.00 759.00 927.00
2017-09-30 5,713.00 890.00 1,249.00
2017-06-30 7,263.00 2,438.00 1,417.00
2017-03-31 7,234.00 2,722.00 1,249.00
2016-12-31 7,242.00 987.00 988.00
2016-09-30 7,108.00 2,754.00 979.00
2016-06-30 7,013.00 2,785.00 1,031.00
2016-03-31 6,919.00 2,742.00 1,125.00
2015-12-31 6,932.00 2,793.00 1,440.00
2015-09-30 6,949.00 2,811.00 1,282.00
2015-06-30 7,111.00 2,829.00 1,271.00
2015-03-31 6,631.00 2,906.00 575.00
2014-12-31 6,788.00 2,803.00 752.00
2014-09-30 7,041.00 3,242.00 836.00
2014-06-30 7,056.00 3,345.00 784.00
2014-03-31 6,963.00 3,345.00 779.00
2013-12-31 5,535.00 1,323.00 1,656.00
2013-09-30 4,940.00 1,349.00 972.00
2013-06-30 4,834.00 1,346.00 924.00
2013-03-31 4,773.00 1,356.00 762.00
2012-12-31 4,749.00 1,346.00 928.00
2012-09-30 4,616.20 1,353.50 861.30
2012-06-30 4,052.80 952.40 666.80
  • Fidelity National Financial's level of debt (16.8%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (24.2% vs 16.8% today).
  • Debt is well covered by operating cash flow (112.8%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 18.4x coverage).
X
Financial health checks
We assess Fidelity National Financial's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Fidelity National Financial has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

FNF Dividends

 What is Fidelity National Financial's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.19%
Current annual income from Fidelity National Financial dividends. Estimated to be 3.29% next year.
If you bought $2,000 of Fidelity National Financial shares you are expected to receive $64 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Fidelity National Financial's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.4%).
  • Fidelity National Financial's dividend is below the markets top 25% of dividend payers in United States of America (3.63%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:FNF Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
United States of America Insurance Industry Average Dividend Yield Market Cap Weighted Average of 79 Stocks 2.4%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2009 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:FNF Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 1.36 1.00
2020-12-31 1.29 3.00
2019-12-31 1.24 3.00
NYSE:FNF Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-02-13 1.240 3.431
2018-10-24 1.200 3.627
2018-07-17 1.200 3.075
2018-05-02 1.200 3.183
2017-10-25 1.080 2.762
2017-07-19 1.000 2.302
2017-05-03 1.000 2.324
2017-02-01 1.000 2.609
2016-11-03 1.000 2.963
2016-07-20 0.840 2.272
2016-04-27 0.840 2.414
2016-02-04 0.840 2.588
2015-10-27 0.840 2.474
2015-07-20 0.840 2.267
2015-05-01 0.760 2.031
2015-01-27 0.760 2.070
2014-10-28 0.760 2.327
2014-08-01 0.720 2.580
2014-07-30 0.720 2.652
2014-01-28 0.720 2.290
2013-10-23 0.720 2.441
2013-07-22 0.640 2.539
2013-04-24 0.640 2.573
2013-01-30 0.640 2.525
2012-11-01 0.640 2.686
2012-07-16 0.560 2.794
2012-04-24 0.560 2.932
2012-02-08 0.560 3.140
2011-10-19 0.480 2.989
2011-07-18 0.480 3.021
2011-04-21 0.480 3.099
2011-01-27 0.480 3.402
2010-10-20 0.720 5.267
2010-07-19 0.720 4.887
2010-04-21 0.720 5.114
2010-02-03 0.600 4.168
2009-10-21 0.600 4.395
2009-07-21 0.600 3.978
2009-04-22 0.600 4.220
2009-04-20 0.600 3.051

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Fidelity National Financial's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.9x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.5x coverage).
X
Income/ dividend checks
We assess Fidelity National Financial's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Fidelity National Financial afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Fidelity National Financial has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

FNF Management

 What is the CEO of Fidelity National Financial's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Randy Quirk
COMPENSATION $8,961,216
AGE 71
TENURE AS CEO 5.3 years
CEO Bio

Mr. Raymond Randall Quirk, also known as Randy, has been the Chief Executive Officer of Fidelity National Financial, Inc. since December 7, 2013 and served as its President from April 2008 to December 7, 2013. Mr. Quirk served as Co-President of Fidelity National Financial Inc. from May 2007 to April 2008 and also as its Co-Chief Operating Officer from October 2006 to May 2007. He served as the President of Fidelity National Financial Inc. from January 2003 to February 2006. He served as President of old FNF since 2002 until October 2005 when he was named its Chief Executive Officer. He joined old FNF in 1985. He served as the Chief Executive Officer of Fidelity National Title Group, Inc. He was responsible for the Direct and Agency operations of five leading title insurance underwriters: Fidelity National Title, Chicago Title, Ticor Title, Security Union Title Commonwealth Land Title, Lawyers Title and Alamo Title. In addition, he was responsible for ServiceLink, a leading provider of centralized title and closing services to national lenders. Mr. Quirk has served in numerous executive and management positions in FNF, including Executive Vice President and Division Manager and Regional Manager, with responsibilities for managing direct and agency operations nationally. He has been a Director of J. Alexander's Holdings, Inc. since September 14, 2015. He has been a Director of Fidelity National Financial, Inc. since February 2, 2017.

CEO Compensation
  • Randy's compensation has been consistent with company performance over the past year.
  • Randy's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Fidelity National Financial management team in years:

3.6
Average Tenure
58.5
Average Age
  • The tenure for the Fidelity National Financial management team is about average.
Management Team

Randy Quirk

TITLE
CEO & Director
COMPENSATION
$9M
AGE
71
TENURE
5.3 yrs

Mike Nolan

TITLE
President
COMPENSATION
$4M
AGE
58
TENURE
3.3 yrs

Tony Park

TITLE
Executive VP & CFO
COMPENSATION
$3M
AGE
51
TENURE
13.5 yrs

Roger Jewkes

TITLE
Chief Operating Officer
COMPENSATION
$4M
AGE
59
TENURE
3.6 yrs

Brent Bickett

TITLE
Executive Vice President of Corporate Strategy
COMPENSATION
$7M
AGE
53
TENURE
3.3 yrs

Dan Murphy

TITLE
Senior VP & Treasurer
AGE
51

Peter Sadowski

TITLE
Executive VP & Chief Legal Officer
COMPENSATION
$3M
AGE
63
TENURE
10.5 yrs

Bradley Ono

TITLE
Assistant Vice President of Sales & Client Development
TENURE
1.6 yrs

Karen Harper

TITLE
Vice President of Human Resource

Paul Perez

TITLE
Chief Compliance Officer of Fidelity National Title Group
AGE
63
Board of Directors Tenure

Average tenure and age of the Fidelity National Financial board of directors in years:

13.4
Average Tenure
62.5
Average Age
  • The average tenure for the Fidelity National Financial board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Bill Foley

TITLE
Non-Executive Chairman
COMPENSATION
$29M
AGE
73
TENURE
14.3 yrs

Randy Quirk

TITLE
CEO & Director
COMPENSATION
$9M
AGE
71
TENURE
2.2 yrs

Doug Ammerman

TITLE
Director
COMPENSATION
$228K
AGE
66
TENURE
13.8 yrs

Peter Shea

TITLE
Director
COMPENSATION
$332K
AGE
51
TENURE
13 yrs

Rick Massey

TITLE
Lead Independent Director
COMPENSATION
$468K
AGE
62
TENURE
5.3 yrs

Cary Thompson

TITLE
Director
COMPENSATION
$332K
AGE
61
TENURE
14.3 yrs

Tom Hagerty

TITLE
Independent Director
COMPENSATION
$453K
AGE
56
TENURE
14.3 yrs

Ron Lane

TITLE
Director
COMPENSATION
$332K
AGE
83
TENURE
14.3 yrs

John Rood

TITLE
Director
COMPENSATION
$405K
AGE
63
TENURE
5.9 yrs

Heather Murren

TITLE
Director
COMPENSATION
$397K
AGE
51
TENURE
1.9 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
30. Oct 18 Buy John Rood Individual 26. Oct 18 26. Oct 18 30,000 $32.51 $975,387
30. Oct 18 Buy John Rood Individual 26. Oct 18 26. Oct 18 1,200 $32.39 $38,868
30. Jul 18 Sell Brent Bickett Individual 27. Jul 18 27. Jul 18 -50,000 $40.68 $-2,034,150
25. Jun 18 Sell Anthony Park Individual 21. Jun 18 21. Jun 18 -55,779 $36.99 $-2,063,265
X
Management checks
We assess Fidelity National Financial's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Fidelity National Financial has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

FNF News

Simply Wall St News

Do You Know What Fidelity National Financial, Inc.'s (NYSE:FNF) P/E Ratio Means?

We'll apply a basic P/E ratio analysis to Fidelity National Financial, Inc.'s (NYSE:FNF), to help you decide if the stock is worth further research. … Based on the last twelve months, Fidelity National Financial's P/E ratio is 17.01. … How Do I Calculate Fidelity National Financial's Price To Earnings Ratio

Simply Wall St -

Fidelity National Financial, Inc. (NYSE:FNF): Will The Growth Last?

The most recent earnings update Fidelity National Financial, Inc.'s (NYSE:FNF) released in December 2018a

Simply Wall St -

Why Fidelity National Financial, Inc. (NYSE:FNF) Could Be Your Next Investment

Attractive stocks have exceptional fundamentals. … In the case of Fidelity National Financial, Inc. … (NYSE:FNF), there's

Simply Wall St -

Is Fidelity National Financial, Inc. (NYSE:FNF) A Smart Pick For Income Investors?

Historically, Fidelity National Financial, Inc. … Let's take a look at Fidelity National Financial in more detail. … See our latest analysis for Fidelity National Financial

Simply Wall St -

Fidelity National Financial, Inc.'s (NYSE:FNF) Earnings Grew 24%, Did It Beat Long-Term Trend?

After reading Fidelity National Financial, Inc.'s (NYSE:FNF) most recent earnings announcement (31 December 2018), I found it useful to look back at how the company has performed in the past and compare this against the latest numbers. … I also compare against an industry benchmark to check whether Fidelity National Financial's performance has been impacted by industry movements. … See our latest analysis for Fidelity National Financial?

Simply Wall St -

What Are Analysts Saying About The Future Of Fidelity National Financial, Inc.'s (NYSE:FNF)?

(NYSE:FNF) announced its earnings update. … with earnings expected to grow by 7.2% in the upcoming year … the higher past 5-year average growth rate of 11%.

Simply Wall St -

Some Fidelity National Financial Shareholders Are Down 14%

(NYSE:FNF) have tasted that bitter downside in the last year, as the share price dropped 14%. … Even though the Fidelity National Financial share price is down over the year, its EPS actually improved. … However, it is certainly possible the market was expecting an uptick in revenue, and that the share price fall reflects that disappointment

Simply Wall St -

Can We See Significant Institutional Ownership On The Fidelity National Financial, Inc. (NYSE:FNF) Share Register?

Every investor in Fidelity National Financial, Inc. … Fidelity National Financial is a pretty big company. … Normally institutions would own a significant portion of a company this size.

Simply Wall St -

How Should Investors Feel About Fidelity National Financial, Inc.'s (NYSE:FNF) CEO Pay?

In 2013 Randy Quirk was appointed CEO of Fidelity National Financial, Inc. … This analysis aims first to contrast CEO compensation with other large companies. … Check out our latest analysis for Fidelity National Financial?

Simply Wall St -

Is Fidelity National Financial, Inc.'s (NYSE:FNF) P/E Ratio Really That Good?

The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). … Fidelity National Financial has a P/E ratio of 10.48, based on the last twelve months. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

FNF Company Info

Description

Fidelity National Financial, Inc., together with its subsidiaries, provides various insurance products in the United States. The company operates in Title, and Corporate and Other segments. It offers title insurance, escrow, and other title related services, including trust activities, trustee sales guarantees, recordings and conveyances, and home warranty insurance. The company also provides technology, and transaction services to the real estate and mortgage industries; and mortgage transaction services, including title-related services and facilitation of production and management of mortgage loans. In addition, it engages in real estate brokerage business. Fidelity National Financial, Inc. was founded in 1847 and is headquartered in Jacksonville, Florida.

Details
Name: Fidelity National Financial, Inc.
FNF
Exchange: NYSE
Founded: 1847
$10,715,892,639
275,331,260
Website: http://www.fnf.com
Address: Fidelity National Financial, Inc.
601 Riverside Avenue,
Jacksonville,
Florida, 32204,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE FNF FNF Group Common Stock New York Stock Exchange US USD 04. Oct 2005
Number of employees
Current staff
Staff numbers
23,436
Fidelity National Financial employees.
Industry
Property and Casualty Insurance
Insurance
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/19 00:42
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/16
Last earnings filing: 2019/02/19
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.