Fidelity National Financial (FNF) FY2023 results: revenue $11.8 billion, up 1.7% on the year
Fidelity National Financial, Inc. (FNF) reported revenue of $11.8 billion for fiscal 2023, the year ended 31 December 2023, up 1.7% on the year before. Net income was $517 million, down 60.0%, and diluted earnings per share $1.91. The figures are the company's own, from the 10-K it filed with the SEC on 29 February 2024.
Revenue
$11.8 billion
+1.7% on the year
FY2016FY2023
Operating margin
5.9%
14.9% a year earlier
FY2016FY2023
Net income
$517 million
-60.0% on the year
FY2016FY2023
Diluted EPS
$1.91
-59.1% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
6,478
4,355
4,090
+48.7%
Cash from investing
-9,090
-10,524
-7,449
Cash from financing
3,093
4,095
5,000
-24.5%
Depreciation and amortisation
593
491
432
+20.8%
Share-based compensation
60.0
49.0
42.0
+22.4%
Buybacks
6.0
553
463
-98.9%
Dividends paid
500
489
446
+2.2%
Dividend per share
$1.83
$1.77
$1.56
+3.4%
Diluted shares, weighted
271m
277m
287m
-2.2%
Shares outstanding at period end
273m
272m
284m
+0.3%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
6,908
6,116
9,414
+12.9%
Non-controlling interest
552
453
43.0
+21.9%
Redeemable equity
n/a
n/a
0.0
Debt
3,887
3,238
3,096
+20.0%
Other liabilities
69,267
55,336
48,777
+25.2%
Total liabilities and equity
80,614
65,143
61,330
+23.7%
Fixed assets
168
179
185
-6.1%
Goodwill
4,830
4,642
4,539
+4.0%
Intangible assets
4,627
3,811
523
+21.4%
Securities held for sale or to maturity
42,373
33,095
31,990
+28.0%
Loans
5,336
4,554
3,749
+17.2%
Cash and equivalents
2,767
2,286
4,360
+21.0%
Other assets
20,513
16,576
15,984
+23.8%
Total assets
80,614
65,143
61,330
+23.7%
10-K for the year ended 31 December 2023, filed 29 February 2024: the filing.