FIDELITY NATIONAL INFORMATION SERVICES, INC.

Financials Fidelity National Information Services, Inc. Sao Paulo

Equities

F1NI34

BRF1NIBDR004

Financial Technology (Fintech)

Market Closed - Sao Paulo Other stock markets 03:00:52 2024-04-29 pm EDT			5-day change	1st Jan Change
22.24 ^BRL	-0.98%		-.--%	+22.20%

May. 16	Autonomous Research Adjusts Fidelity National Information Services Price Target to $84 From $80	MT
May. 10	S&P 500 Posts Third Consecutive Weekly Gain Amid Better-Than-Expected Earnings, Hope for Rate Cuts; Utilities Lead Climb	MT

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	85,485	87,777	66,465	40,261	35,590	43,588	-	-
Enterprise Value (EV) ¹	104,525	105,833	84,808	58,210	54,228	51,966	50,890	50,494
P/E ratio	211 x	566 x	163 x	-2.45 x	-5.33 x	21.9 x	19.1 x	19.2 x
Yield	1.01%	0.99%	1.43%	2.77%	3.46%	1.86%	2.32%	2.5%
Capitalization / Revenue	8.27 x	6.99 x	4.79 x	2.77 x	3.62 x	4.3 x	4.13 x	3.96 x
EV / Revenue	10.1 x	8.43 x	6.11 x	4.01 x	5.52 x	5.13 x	4.82 x	4.59 x
EV / EBITDA	24.9 x	20.1 x	13.9 x	9.4 x	8.81 x	12.6 x	11.7 x	11 x
EV / FCF	47.3 x	31.9 x	23.9 x	22.8 x	16.9 x	21.9 x	19.5 x	17.3 x
FCF Yield	2.11%	3.13%	4.19%	4.38%	5.92%	4.56%	5.12%	5.78%
Price to Book	1.25 x	1.78 x	1.42 x	1.47 x	1.86 x	2.48 x	2.41 x	2.26 x
Nbr of stocks (in thousands)	614,600	620,509	608,937	593,379	592,484	556,251	-	-
Reference price ²	139.1	141.5	109.2	67.85	60.07	78.36	78.36	78.36
Announcement Date	2/13/20	2/9/21	2/15/22	2/13/23	2/26/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	10,333	12,552	13,877	14,528	9,821	10,137	10,557	11,005
EBITDA ¹	4,204	5,260	6,117	6,195	6,154	4,132	4,356	4,610
EBIT ¹	969	552	1,055	-16,119	1,467	1,846	2,085	2,563
Operating Margin	9.38%	4.4%	7.6%	-110.95%	14.94%	18.21%	19.75%	23.29%
Earnings before Tax (EBT) ¹	413	266	789	-16,331	663	1,310	1,749	2,405
Net income ¹	298	158	417	-16,720	-6,654	1,759	1,953	2,433
Net margin	2.88%	1.26%	3%	-115.09%	-67.75%	17.35%	18.5%	22.11%
EPS ²	0.6600	0.2500	0.6700	-27.68	-11.26	3.585	4.106	4.089
Free Cash Flow ¹	2,210	3,313	3,553	2,549	3,213	2,369	2,604	2,917
FCF margin	21.39%	26.39%	25.6%	17.55%	32.72%	23.37%	24.66%	26.5%
FCF Conversion (EBITDA)	52.57%	62.98%	58.08%	41.15%	52.21%	57.33%	59.78%	63.26%
FCF Conversion (Net income)	741.61%	2,096.84%	852.04%	-	-	134.68%	133.34%	119.86%
Dividend per Share ²	1.400	1.400	1.560	1.880	2.080	1.456	1.821	1.956
Announcement Date	2/13/20	2/9/21	2/15/22	2/13/23	2/26/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2
Net sales ¹	3,672	3,492	3,719	3,604	3,714	3,510	3,746	3,690	2,510	2,467	2,485	2,558	2,627	2,572	2,591
EBITDA ¹	1,705	1,418	1,599	1,575	1,605	1,359	1,551	1,632	1,613	975	992.2	1,063	1,099	1,016	1,049
EBIT ¹	455	157	374	462	-17,112	337	-6,316	959	331	361	432.6	522.6	534.9	437.7	465.7
Operating Margin	12.39%	4.5%	10.06%	12.82%	-460.74%	9.6%	-168.61%	25.99%	13.19%	14.63%	17.41%	20.43%	20.36%	17.02%	17.97%
Earnings before Tax (EBT) ¹	416	175	357	345	-17,209	189	-6,522	793	82	130	290.6	366	387.9	291.6	319.1
Net income ¹	291	120	277	249	-17,365	140	-6,596	-449	251	724	441.1	458.2	478.5	407.7	446.3
Net margin	7.92%	3.44%	7.45%	6.91%	-467.56%	3.99%	-176.08%	-12.17%	10%	29.35%	17.75%	17.91%	18.21%	15.85%	17.22%
EPS ²	0.4700	0.2000	0.4500	0.4100	-29.28	0.2400	-11.14	-0.7600	0.4200	1.250	0.8750	0.9365	0.9908	1.032	1.103
Dividend per Share ²	0.3900	0.4700	0.4700	0.4700	0.4700	0.5200	0.5200	0.5200	0.5200	-	0.3650	0.3650	0.3650	0.4000	0.4000
Announcement Date	2/15/22	5/3/22	8/4/22	11/3/22	2/13/23	4/27/23	8/2/23	11/7/23	2/26/24	5/6/24	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	19,040	18,056	18,343	17,949	18,638	8,378	7,302	6,907
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	4.529 x	3.433 x	2.999 x	2.897 x	3.029 x	2.028 x	1.676 x	1.498 x
Free Cash Flow ¹	2,210	3,313	3,553	2,549	3,213	2,369	2,604	2,917
ROE (net income / shareholders' equity)	8.48%	0.32%	8.41%	10.8%	15.8%	16.3%	18.6%	19.8%
ROA (Net income/ Total Assets)	4.7%	4.08%	4.88%	5.52%	6.17%	3.98%	6.7%	7.95%
Assets ¹	6,336	3,873	8,552	-303,074	-107,759	44,220	29,147	30,618
Book Value Per Share ²	111.0	79.60	76.90	46.10	32.30	31.60	32.60	34.70
Cash Flow per Share ²	5.340	7.080	7.750	6.520	7.340	5.090	6.120	6.500
Capex ¹	828	1,129	1,251	1,390	1,122	805	847	876
Capex / Sales	8.01%	8.99%	9.01%	9.57%	11.42%	7.94%	8.02%	7.96%
Announcement Date	2/13/20	2/9/21	2/15/22	2/13/23	2/26/24	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Fidelity National Information Services, Inc.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

78.36 USD

Average target price

79.8 USD

Spread / Average Target

+1.84%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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Financial Technology (Fintech) (NEC)