FIS Unveils 30%+ Revenue Growth Outlook for 2026 as New Acquisitions Drive Expansion
2025 Delivers Solid Growth: Adjusted Revenue and EPS Rise
Fidelity National Information Services (FIS) closed out 2025 with a year of steady financial improvement, driven by resilient operational performance and a streamlined portfolio. Full-year 2025 adjusted revenue grew 6% to $10.68 billion, while adjusted EPS climbed 10% to $5.75. Adjusted EBITDA increased 5% to $4.33 billion, reflecting healthy profit growth across core business lines.
| Key Metrics (FY2025) | 2025 | 2024 | Change |
|---|---|---|---|
| Adjusted Revenue ($B) | 10.68 | 10.13 | +6% |
| Adjusted EBITDA ($B) | 4.33 | 4.14 | +5% |
| Adjusted EPS | 5.75 | 5.22 | +10% |
| Adjusted Free Cash Flow ($B) | 2.17 | 1.83 | +18% |
| Capital Returned to Shareholders ($B) | 2.10 | - | - |
Segment Insights: Capital Markets Lead on Margins, Banking Grows Recurring Revenue
Banking Solutions posted $7.29 billion in revenue for 2025, up 6% year-over-year, with recurring revenue growth matching overall segment expansion. Adjusted EBITDA hit $3.22 billion, though margin slipped slightly to 43.4%, largely due to short-term impacts from recent acquisitions. Meanwhile, Capital Market Solutions revenue climbed 7% to $3.20 billion, while adjusted EBITDA rose 9% to $1.65 billion. The latter’s margin improved to 51.8%, buoyed by higher-margin license revenue and tighter cost controls.
| Segment | 2025 Revenue ($B) | Growth YoY | 2025 Adj. EBITDA Margin |
|---|---|---|---|
| Banking Solutions | 7.29 | +6% | 43.4% |
| Capital Market Solutions | 3.20 | +7% | 51.8% |
Strategic Moves: Total Issuing™ Solutions Adds Scale, Worldpay Sale Simplifies Focus
January 2026 marked a major shift. FIS closed its acquisition of Total Issuing™ Solutions, extending its reach across the financial data landscape, while finalizing the sale of its remaining 45% stake in Worldpay. Leadership touts the result as positioning FIS with the industry’s most comprehensive dataset—fueling innovation and broadening its global financial technology footprint.
2026 Guidance Signals Ambitious Growth: Targets 30-31% Adjusted Revenue Increase
Looking ahead, FIS set bold 2026 targets: adjusted revenue is expected to jump 30-31%, with adjusted EBITDA rising 34-35%, and adjusted EPS up 8-10%. These results incorporate the full contribution from Total Issuing™ Solutions and reflect a streamlined, growth-focused organization. Free cash flow is projected to grow 27-33% to a range of $2.05 - $2.15 billion. On a pro forma basis (including Total Issuing™ acquisition throughout the prior year), revenue and adjusted EBITDA are forecast to increase 5.1-5.7% and 7.2-8.4%, respectively.
| 2026 Outlook | Guidance | Growth Range |
|---|---|---|
| Adjusted Revenue ($B) | 13.77 - 13.85 | +30% to +31% |
| Adjusted EBITDA ($B) | 5.80 - 5.86 | +34% to +35% |
| Adjusted EPS | 6.22 - 6.32 | +8% to +10% |
| Free Cash Flow ($B) | 2.05 - 2.15 | +27% to +33% |
Capital Returns and Balance Sheet Strategy: Dividend Growth and Deleveraging
During 2025, FIS returned $2.1 billion to shareholders via $1.3 billion in buybacks and $847 million in dividends. In early 2026, the board approved a 10% dividend increase to $0.44 per share. FIS plans to pause share repurchases and tuck-in M&A in the near term to further lower leverage, targeting a 2.8x gross leverage ratio before resuming broader capital return strategies.
Takeaway: Transformation Continues As FIS Targets Generational Growth
With solid segment performance, a reshaped portfolio, and financial targets that outpace recent years, FIS is aiming for a transformative 2026. The integration of Total Issuing™ Solutions, exit from Worldpay, and renewed focus on organic and recurring growth set the stage for FIS’s largest anticipated gains in a decade. Investors may wish to monitor upcoming execution risks—but the projected growth rates and margin expansion signal a clear inflection point for the firm’s global ambitions.
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