Fidelity National Information Services (FIS) reported fourth‑quarter 2025 revenue of $2.81 billion, an 8% year‑over‑year increase, and adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of $1.20 billion, giving an adjusted EBITDA margin of 42.5%—a slight contraction from the 42.9% margin reported in Q3 2025. Adjusted earnings per share (EPS) were $1.68, in line with consensus estimates and beating the $2.74 billion revenue consensus by $0.04–$0.06 billion.
FIS also delivered full‑year 2025 results that included $10.7 billion in revenue, up 5% from the prior year, and $4.3 billion in adjusted EBITDA, a 40.6% margin that fell from 42.9% in 2024. Adjusted net earnings reached $3.0 billion, translating to an adjusted EPS of $5.75—an increase of 6.7% from the 2024 adjusted EPS of $5.57.
Management raised its 2026 guidance, projecting first‑quarter revenue of $3.27 billion to $3.29 billion and adjusted EPS of $1.26 to $1.30. For the full year, revenue guidance was lifted to $13.77 billion to $13.85 billion and adjusted EPS to $6.22 to $6.32, representing 30%–31% revenue growth and 8%–10% EPS growth. The higher outlook reflects confidence in the continued demand for banking solutions, the integration of the Issuer Solutions platform, and a shift toward higher‑margin recurring revenue streams.
Margin compression in Q4 was driven by one‑time restructuring charges and a shift in the revenue mix toward lower‑margin merchant operations. The full‑year contraction was largely attributable to the integration of the newly acquired Issuer Solutions business and related one‑time costs. Management expects margin expansion in 2026 to 42.1%–42.3% on an adjusted basis, driven by a higher mix of recurring revenue and the ongoing integration of Issuer Solutions. The acquisition of Issuer Solutions, completed on January 9 2026 for an enterprise value of $13.5 billion, and the simultaneous sale of FIS’s 45% stake in Worldpay for $6.6 billion, have provided significant cash and eliminated a non‑cash minority interest, strengthening the balance sheet.
Market reaction to the results was mixed. Some analysts highlighted the revenue beat and the optimistic guidance as evidence of strong execution, while others expressed caution due to the below‑consensus Q1 2026 EPS guidance and the company’s recent stock decline of 33% over the past six months.
"We are entering 2026 with continued strong momentum as our commercial excellence initiatives and investments in innovation are driving durable revenue growth and expanding margins," said Stephanie Ferris, CEO and President. "With the Issuing acquisition, FIS now operates the most comprehensive financial data set in the industry – spanning the entire money lifecycle. We are executing against a differentiated strategy, driving innovation across the enterprise, and are uniquely positioned for this generational moment in financial services."
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