# Fidelity National Financial, Inc. (FNF)

> Source: Nexqual · https://nexqual.com/FNF · data as of 2026-10-15 20:00 UTC · cite as "Nexqual, Fidelity National Financial, Inc. (FNF), nexqual.com/FNF" · informational, not investment advice.

**Price:** USD 39.68 (+1.07% on the day) · last close of Oct 15, 2026; US market closed, not a live price. Prev close 39.26 · day 39.53–40.57 · 52w 37.88–58.41 · market cap $10.6B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $15.4B, net income $772M (5.0% margin) (SEC filings).
- Valuation: P/E 13.8x (avg 20.7x at the last 3 fiscal year-ends), net debt $796M.
- 3 of 80 tracked superinvestors hold FNF (13F, Q2 2026): 0 new, 1 added, 2 reduced, 0 unchanged.
- Analysts: Buy (mean 2.00 on a 1–5 scale) (5 analysts), mean target USD 55 (range 47–61).
- Total return with dividends: 1Y -22.0% vs S&P 500 +18.1%; 5Y +6.8% vs S&P 500 +85.1%.
- Next earnings: 2026-11-05, EPS estimate USD 1.36, revenue estimate $3.83B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $15.7B | $11.6B | $11.8B | $13.7B | $14.4B | $15.4B |
| Net income | $2.80B | $1.29B | $517M | $1.27B | $602M | $772M |
| EPS (diluted) | $9.40 | $4.50 | $1.91 | $4.65 | $2.21 | — |
| Net margin | 17.9% | 11.2% | 4.4% | 9.3% | 4.2% | 5.0% |
| Revenue growth | +45.2% | -26.1% | +1.6% | +16.4% | +5.6% | — |
| Cash + short-term investments | $4.36B | $2.29B | $2.77B | $3.48B | $2.64B | — |
| Total debt | $3.10B | $3.24B | $3.89B | $4.32B | $4.40B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 13.8x · P/S 0.7x · EV/Sales 0.7x · P/B 1.4x · Earnings yield 7.25% · Dividend yield (paid, TTM) 5.20% · Buyback yield (TTM) 1.98% · Net debt $796M · EV $11.4B
P/E at fiscal year-ends: Dec 2025 24.7x, Dec 2024 11.6x, Dec 2023 25.8x.

## Superinvestors (SEC 13F-HR, Q2 2026)
3 of 80 tracked investors hold FNF. Change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Glenn Greenberg | Brave Warrior Advisors | 3.54% | $163M | Reduced -1.6% |
| Third Avenue Management |  | 1.46% | $9.1M | Reduced -0.2% |
| First Eagle Investment | First Eagle Investment Management | 0.71% | $423M | Added +1.1% |

## Analysts
Consensus Buy (mean 2.00 on a 1–5 scale), 5 analysts; mean target USD 55 (low 47, high 61).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-15 | Truist Securities | Target lowered | Buy | $70 → $59 |
| 2026-10-05 | Barclays | Target lowered | Equal-Weight | $54 → $47 |
| 2026-08-24 | Stephens & Co. | Reiterated | Overweight | $55 |
| 2026-08-10 | Keefe, Bruyette & Woods | Target lowered | Outperform | $64 → $61 |
| 2026-08-07 | Barclays | Target raised | Equal-Weight | $51 → $54 |
| 2026-07-07 | Barclays | Target raised | Equal-Weight | $50 → $51 |
| 2026-06-25 | Keefe, Bruyette & Woods | Target lowered | Outperform | $67 → $64 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-16) | 5Y (from 2021-10-11) |
|---|---|---|
| Total return | -22.0% | +6.8% |
| S&P 500 (SPY) | +18.1% | +85.1% |
| Per year | -22.1% | +1.3% |
| Volatility (annualized) | 27.4% | 26.8% |
| Max drawdown | -30.6% (Feb 2026→Sep 2026) | -36.7% (Jan 2022→Mar 2023) |

## Peers (Insurance - Specialty)
AXS (Axis Capital Holdings Limited) USD 97.93 +0.39% · FAF (First American Corporation (New) USD 63.43 +2.03% · ACT (Enact Holdings, Inc.) USD 45.67 +1.65% · ESNT (Essent Group Ltd.) USD 63.76 +2.77% · MTG (MGIC Investment Corporation) USD 27.61 +1.81% · RDN (Radian Group Inc.) USD 33.6 -0.44%

## More
Full page: https://nexqual.com/FNF · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt