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Fidelity National Information Services Inc FIS

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Morningstar’s Analysis

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FIS Sees a Bounce Back in Second Quarter

Brett Horn, CFA Senior Equity Analyst

Analyst Note

| Brett Horn, CFA |

Like its peers, narrow-moat FIS saw a bounce back in the second quarter and relatively outsize year-over-year growth. Overall revenue was up 17% on a reported basis, and 16% excluding acquisitions and currency effects. While year-over-year comparisons are distorted by the ups and downs of the coronavirus pandemic, we think the underlying results in the space have shown a sustained recovery in recent quarters, and the second quarter maintained that trend. We will keep our $142 per share fair value estimate in place.

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Company Profile

Business Description

Fidelity National Information Services’ legacy operations provide core and payment processing services to banks, but its business has expanded over time. By acquiring Sungard in 2015, the company now provides record-keeping and other services to investment firms. With the acquisition of Worldpay in 2019, FIS now provides payment processing services for merchants and holds leading positions in the United States and United Kingdom. About a fourth of revenue is generated outside North America.

601 Riverside Avenue
Jacksonville, FL, 32204
T +1 904 438-6000
Sector Technology
Industry Information Technology Services
Most Recent Earnings Jun 30, 2021
Fiscal Year End Dec 31, 2020
Stock Type Speculative Growth
Employees 62,000