Fidelity National Information Services (FIS) · Q2 2026 results and valuation

At 3.2% growth a year (3-year revenue growth), the model's fair value is $43.91 a share — the stock trades 31% below it. Today's price assumes 0.1% growth a year.

1. Guidance ↓

   Fidelity National Information Services has reduced the EBITDA outlook to reflect the lower revenue projections for Capital Markets, and it now anticipates full year margin expansion of 85 to 105 basis...

2. Guidance

   Quarter interest rate pressures weighed on lending volumes, and Fidelity National Information Services now expects growth to be tempered, creating a modest drag on the segment recurring revenue growth.

3. Figure

   Fidelity National Information Services delivered revenue of $3.4 billion, up 5.3% on a pro forma basis.

4. Dropped

   Actual use case for them that makes a ton of sense

   Source quote

   “And it's a use case that the banks care about. It is an actual use case for them that makes a ton... ...see a humongous demand from clients in terms of specific use cases, but what we're focused on here with them is really bringing them together around tokenized deposits as the first use case, which steps them into digital asset capabilities. It is an actual use case for them that makes a ton of sense.”

Management sounded noticeably less positive answering analysts than in its prepared script — a bigger drop than in 84% of calls. Scripts are polished in advance; a drop under questioning often marks the topics analysts pressed on, so the answers deserve a closer read than the script.

Sentences that drove the tone

“Adjusted EBITDA grew 7.4%, margins expanded 113 basis points and adjusted EPS grew 9% toward the high end of the range, reflecting stronger execution across the business.”

“Banking grew 6.1% at the high end of our outlook, driven by continued momentum in both Banking and Payments.”

“Banking grew at the high end of our range with continued strength across Banking and Payments.”