10-K · February 26, 2026
Fidelity National Financial, Inc. reported strong financial performance for the year ended December 31, 2025, with total revenues of $14.45 billion, driven primarily by increases in title insurance premiums and…
Earnings analysis · 10-Q
FNF earnings analysis
Filed May 8, 2026 · Our reading of the company's report
The latest report
Fidelity National Financial reported a revenue decline of 10.9% in Q1 2026 compared to the prior quarter, with total revenue reaching $3.226 billion and a diluted EPS of $0.93, missing consensus estimates. The Title…
Read full summary
Fidelity National Financial reported a revenue decline of 10.9% in Q1 2026 compared to the prior quarter, with total revenue reaching $3.226 billion and a diluted EPS of $0.93, missing consensus estimates. The Title segment performed well, showing a 13% increase in revenues year-over-year, driven by higher closed order volumes while the F&G segment saw mixed results due to increased recognized losses. The company is facing headwinds from operating expenses and overall economic conditions, although management remains optimistic about market conditions improving.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
Where revenue came from
The business segments reported by the company.
Shares of the segments disclosed in this filing, largest first.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.93
What stood out
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Revenue Decline from Estimates
Total revenue for Q1 2026 was $3.226 billion, falling short of the estimated $3.622 billion.
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Title Segment Growth
The Title segment revenue increased by $230 million, or 13%, to $2.004 billion in Q1 2026 compared to Q1 2025.
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Positive Growth in Net Earnings
Net earnings for Q1 2026 surged to $321 million, up from $83 million in Q1 2025.
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Significant Cash Balance
Cash and cash equivalents as of March 31, 2026, stood at $2.467 billion, indicating strong liquidity.
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Increase in Operating Income
Operating income before taxes reached $498 million in Q1 2026, an increase from $111 million in the previous year.
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Robust Shareholder Returns
The company returned $140 million to shareholders in dividends during Q1 2026.
What to watch
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Inflation Impact on Operations
Management warned of continued pressures from inflation and rising interest rates affecting real estate activity.
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Increased Operating Expenses
Compared to Q1 2025, total expenses rose to $2.728 billion from $2.618 billion, indicating rising operational costs.
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Market Volatility Risks
Management cited concerns over consumer spending and geopolitical uncertainties that could impact future earnings.
Management's outlook
Outlook deferred to earnings press release / call.
Earlier filings 4
10-Q · November 10, 2025
Fidelity National Financial, Inc. reported robust Q3 2025 results, with total revenues increasing by 11.9% year-over-year to $4.03 billion, driven primarily by a 15% rise in title premiums. Gross margin slightly…
10-Q · August 7, 2025
Fidelity National Financial, Inc. (FNF) reported strong revenue growth in Q2 2025, with total revenues increasing by 15% year-over-year to $3.64 billion, driven by an upswing in title premiums and escrow fees. However,…
10-Q · May 8, 2025
Fidelity National Financial (FNF) reported a significant decline in revenue and earnings for Q1 2025 compared to both the prior quarter and the prior year, primarily driven by challenges in their F&G segment. The Title…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.