Fidelity National Information Services (FIS) FY2019 results: revenue $10.3 billion, up 22.7% on the year
Fidelity National Information Services, Inc. (FIS) reported revenue of $10.3 billion for fiscal 2019, the year ended 31 December 2019, up 22.7% on the year before. Net income was $298 million, down 64.8%, and diluted earnings per share $0.66. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2020.
Revenue
$10.3 billion
+22.7% on the year
FY2015FY2019
Operating margin
9.4%
17.3% a year earlier
FY2015FY2019
Net income
$298 million
-64.8% on the year
FY2015FY2019
Diluted EPS
$0.66
-74.1% on the year
FY2015FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
10,333
8,423
8,668
+22.7%
Cost of revenue
6,610
5,569
5,794
+18.7%
Gross profit
3,723
2,854
2,874
+30.4%
Gross margin
36.0%
33.9%
33.2%
Selling, general and administrative
2,667
1,301
1,442
+105.0%
Operating income
969
1,458
1,432
-33.5%
Operating margin
9.4%
17.3%
16.5%
Interest expense
389
314
359
+23.9%
Pre-tax income
413
1,104
976
-62.6%
Income tax
100
208
-321
-51.9%
Effective tax rate
24.2%
18.8%
-32.9%
Net income
298
846
1,261
-64.8%
Net margin
2.9%
10.0%
14.5%
Diluted EPS
$0.66
$2.55
$3.75
-74.1%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
2,410
1,993
1,741
+20.9%
Capital expenditure
200
127
145
+57.5%
Free cash flow
2,210
1,866
1,596
+18.4%
Free cash flow margin
21.4%
22.2%
18.4%
Cash from investing
-7,501
-668
690
Cash from financing
7,581
-1,236
-2,480
Depreciation and amortisation
2,444
1,420
1,366
+72.1%
Share-based compensation
402
84.0
107
+378.6%
Buybacks
453
1,255
153
-63.9%
Dividends paid
656
421
385
+55.8%
Dividend per share
$1.40
$1.28
$1.16
+9.4%
Diluted shares, weighted
451m
332m
336m
+35.8%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
49,440
10,215
10,711
+384.0%
Non-controlling interest
16.0
7.0
109
+128.6%
Redeemable equity
0.0
n/a
n/a
Short-term borrowings
n/a
n/a
0.0
Debt
20,192
8,985
8,763
+124.7%
Operating lease liabilities
466
n/a
n/a
Other liabilities
13,692
4,563
4,934
+200.1%
Total liabilities and equity
83,806
23,770
24,517
+252.6%
Fixed assets
900
587
610
+53.3%
Goodwill
52,242
13,545
13,730
+285.7%
Intangible assets
15,798
3,132
3,885
+404.4%
Cash and equivalents
1,152
703
665
+63.9%
Receivables
3,242
1,472
1,624
+120.2%
Other assets
10,472
4,331
4,003
+141.8%
Total assets
83,806
23,770
24,517
+252.6%
10-K for the year ended 31 December 2019, filed 20 February 2020: the filing.