Fidelity National Financial

FNF

Insurance - Specialty · Financial Services

Price

$47.30

-0.14 (-0.30%)

Market Cap

$12.73B

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Good

Growth

Mixed

Cash Flow

Exceptional

Stability

Strong

Valuation

Strong

Dividends

Good

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Share count falling — buybacks

−5.2% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 287.0M (2021) → 272.0M (2025)

Winston Score History

The full picture

Fidelity National Financial is the largest title insurance company in the United States. Title insurance protects homebuyers and lenders if problems with a property's ownership history show up after a sale. The company also owns a majority stake in F&G Annuities & Life, which sells annuities and life insurance products to individuals planning for retirement.

FNF earns money primarily through one-time premiums paid at real estate closings, plus fees for escrow and settlement services. It operates mainly in the U.S. and handles roughly one in three title insurance transactions nationwide, giving it significant scale advantages over smaller competitors. The biggest risk the company faces is its heavy dependence on real estate transaction volume — when mortgage rates rise and home sales slow down, as they have in recent years, FNF's revenue falls sharply alongside the broader housing market.

Politician Trades

5 trades / 12mo

2 Congressional buys and 3 sells on FNF in the last 12 months.

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Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+13.3% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+5.9% YoY

YoY Growth Rate

Slow EPS growth

R&D Spend

$0/ year

0.0% of revenue

Below sector average (7%)

Research and development spending

Insider Activity

5.5%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$137.0B cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

Fidelity National Financial is a rare growth stock that's already generating positive cash flow while growing at 13%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

100.0%

Premium pricing power — 100.0% gross margin

Profit after running costs

Operating Margin

8.3%

Modest — 8.3% operating margin

Return on the money invested

ROCE

13.2%

Good — 13.2% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

+14.9%

Fast-growing sales (+14.9% YoY)

Profit growth

EPS YoY

-27.1%

Earnings shrinking (-27.1% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

881%

Turns 881% of profit into real cash

Spare cash per sale

FCF Margin

43.5%

Converts sales into free cash efficiently (43.5%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns

Debt / Equity

0.50

Conservative — low debt load (0.50)

Covers its interest

Interest Cover

7.15x

Adequate interest coverage (7.1x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

16.4x

Fair value — P/E 16.4

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year

P/E vs Forward

+6.4

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (16.4 → 10.0)

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Dividends

Dividend

Dividend Yield

3.96%

Moderate income — 3.96% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record

Dividend Growth

+4.0%

Dividend growing modestly (4.0% YoY)

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