Forensic Analysis · Professional & Commercial Services · as of Aug 11, 2026

Fidelity National Information Services, Inc. (FIS)

A forensic read on Fidelity National Information Services, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

D · Weak — demands caution

Forensic grade

Distress

Financial health

-1.3

Distress distance

Clean

Earnings quality

Forensic signals

8.2

P / E (ttm)

2.7%

ROE

$22.0B

Market cap

4.11%

Dividend yield

5.4%

Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Fidelity National Information Services, Inc. earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads -1.3, placing it in the Distress zone. 4 forensic signals were flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

5.1%

FY2025

Return on invested capital. Return on invested capital is 5.1% in the latest fiscal year and rising from 2% — well below its ~10% cost of capital, so reinvested dollars may be destroying value, not building it.

93% of FCF

FY2025

Shareholder returns. Returned $2.3B to shareholders (buybacks + dividends) in FY2025 — 93% of free cash flow. Right at the limit of what free cash flow covers — little room before it's funded by debt or the balance sheet. Counting the $181M of stock-based comp paid out in shares on top of that, the combined claim on free cash flow is 100%.

$17.7B

FY2020–FY2022

Goodwill impairments. Took $17.7B of goodwill writedowns across 2 years (FY2020 ($94M), FY2022 ($17.6B)). Writedowns mean past acquisitions underperformed what was paid for them.

-31%

FY2023→FY2024

Dividend — cut. The payout was CUT ~31% in FY2024 (from FY2023). It still returns some cash, but it is NOT the dependable, rising dividend an unbroken streak implies.

Key fundamentals

Latest Revenue$10.68B

Revenue Growth YoY+5.4%

Net Margin3.6%

Free Cash Flow$2.45B

Return on Equity2.7%

Debt / Equity0.74x

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Data from SEC EDGAR public filings · metrics as of Aug 11, 2026. Forensic signals flag probability, not certainty.