Fidelity National Information Services (FIS) FY2020 results: revenue $12.6 billion, up 21.5% on the year
Fidelity National Information Services, Inc. (FIS) reported revenue of $12.6 billion for fiscal 2020, the year ended 31 December 2020, up 21.5% on the year before. Net income was $158 million, down 47.0%, and diluted earnings per share $0.25. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2021.
Revenue
$12.6 billion
+21.5% on the year
FY2015FY2020
Operating margin
4.4%
9.4% a year earlier
FY2015FY2020
Net income
$158 million
-47.0% on the year
FY2015FY2020
Diluted EPS
$0.25
-62.1% on the year
FY2015FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
12,552
10,333
8,423
+21.5%
Cost of revenue
8,348
6,610
5,569
+26.3%
Gross profit
4,204
3,723
2,854
+12.9%
Gross margin
33.5%
36.0%
33.9%
Selling, general and administrative
3,516
2,667
1,301
+31.8%
Operating income
552
969
1,458
-43.0%
Operating margin
4.4%
9.4%
17.3%
Interest expense
339
389
314
-12.9%
Pre-tax income
266
413
1,104
-35.6%
Income tax
96.0
100
208
-4.0%
Effective tax rate
36.1%
24.2%
18.8%
Net income
158
298
846
-47.0%
Net margin
1.3%
2.9%
10.0%
Diluted EPS
$0.25
$0.66
$2.55
-62.1%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
4,442
2,410
1,993
+84.3%
Capital expenditure
263
200
127
+31.5%
Free cash flow
4,179
2,210
1,866
+89.1%
Free cash flow margin
33.3%
21.4%
22.2%
Cash from investing
-914
-7,501
-668
Cash from financing
-2,751
7,581
-1,236
Depreciation and amortisation
3,714
2,444
1,420
+52.0%
Share-based compensation
283
402
84.0
-29.6%
Buybacks
112
453
1,255
-75.3%
Dividends paid
868
656
421
+32.3%
Dividend per share
$1.40
$1.40
$1.28
0.0%
Diluted shares, weighted
627m
451m
332m
+39.0%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
49,300
49,440
10,215
-0.3%
Non-controlling interest
13.0
16.0
7.0
-18.8%
Redeemable equity
174
0.0
n/a
Debt
20,015
20,192
8,985
-0.9%
Operating lease liabilities
453
466
n/a
-2.8%
Other liabilities
13,887
13,692
4,563
+1.4%
Total liabilities and equity
83,842
83,806
23,770
+0.0%
Fixed assets
887
900
587
-1.4%
Goodwill
53,268
52,242
13,545
+2.0%
Intangible assets
13,928
15,798
3,132
-11.8%
Cash and equivalents
1,959
1,152
703
+70.1%
Receivables
3,314
3,242
1,472
+2.2%
Other assets
10,486
10,472
4,331
+0.1%
Total assets
83,842
83,806
23,770
+0.0%
10-K for the year ended 31 December 2020, filed 18 February 2021: the filing.