DCF Tool


Fidelity National Information Services, Inc. – Data Processing, Hosting, and Related Services
fis is at the heart of the commerce and financial transactions that power the world’s economy. we are passionate about helping businesses and communities thrive by advancing the way the world pays, banks and invests, serving more than 20,000 clients and more than one million merchant locations in over 130 countries. for more information about fis, visit http://www.fisglobal.com.
Analysis Results
Intrinsic Value $333.45
Latest Price $55.98
Relative Value 83% undervalued
Thoughts on this result? Let us know.
Cash Flow (Billions)
Analysis Parameters
New Ticker
Analysis Details
Growth Rate Projection

An exponential growth model was fit to the past cash flow data, giving more weight to more recent years. This model determined a growth rate estimate of 20.3%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 6.6%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 20.3%, the cash flows for the next 5 years are projected.

The present value of each year's flow is adjusted to present value using the discount rate.

Year Future flow (billion) Present value (billion)
2023 5.24 4.91
2024 6.3 5.54
2025 7.58 6.26
2026 9.12 7.07
2027 11.0 7.98
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 243 billion. This corresponds to a present value of 166 billion.

Intrinsic Value Per Share

The total present value of the projected cash flows is 31.8 billion. Adding in the terminal value gives a total present value of 198 billion.

There are presently 592.0 million outstanding shares, so the intrinsic value per share is 333.45.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 12,818,000,000
Current Cash 2,188,000,000
Current Liabilities 16,224,000,000
Current Debt 5,930,000,000
Non-Cash Working Capital (NCWC) 336,000,000
Change in NCWC 576,000,000
EBIT 1,590,000,000
Tax Provision 377,000,000
Depreciation and Amortization 3,846,000,000
Capital Expenditure -1,390,000,000
Unlevered Free Cash Flow 4,622,000,000
Current Assets 10,708,000,000
Current Cash 2,010,000,000
Current Liabilities 14,466,000,000
Current Debt 5,528,000,000
Non-Cash Working Capital (NCWC) -240,000,000
Change in NCWC 118,000,000
EBIT 1,263,000,000
Tax Provision 371,000,000
Depreciation and Amortization 4,015,000,000
Capital Expenditure -1,251,000,000
Unlevered Free Cash Flow 3,555,600,000
Current Assets 9,898,000,000
Current Cash 1,959,000,000
Current Liabilities 12,361,000,000
Current Debt 4,064,000,000
Non-Cash Working Capital (NCWC) -358,000,000
Change in NCWC -479,000,000
EBIT 682,000,000
Tax Provision 96,000,000
Depreciation and Amortization 3,714,000,000
Capital Expenditure -1,129,000,000
Unlevered Free Cash Flow 2,536,184,615
Current Assets 8,692,000,000
Current Cash 1,152,000,000
Current Liabilities 10,382,000,000
Current Debt 2,963,000,000
Non-Cash Working Capital (NCWC) 121,000,000
Change in NCWC -99,000,000
EBIT 1,046,000,000
Tax Provision 100,000,000
Depreciation and Amortization 2,444,000,000
Capital Expenditure -828,000,000
Unlevered Free Cash Flow 2,303,446,650
Current Assets 3,733,000,000
Current Cash 703,000,000
Current Liabilities 3,125,000,000
Current Debt 315,000,000
Non-Cash Working Capital (NCWC) 220,000,000
Change in NCWC 157,000,000
EBIT 1,538,000,000
Tax Provision 208,000,000
Depreciation and Amortization 1,420,000,000
Capital Expenditure -622,000,000
Unlevered Free Cash Flow 2,199,240,587
Current Assets 3,606,000,000
Current Cash 665,000,000
Current Liabilities 3,923,000,000
Current Debt 1,045,000,000
Non-Cash Working Capital (NCWC) 63,000,000
Change in NCWC -717,000,000
EBIT 1,489,000,000
Tax Provision -319,000,000
Depreciation and Amortization 1,391,000,000
Capital Expenditure -613,000,000
Unlevered Free Cash Flow 1,550,000,000
Current Assets 4,282,000,000
Current Cash 683,000,000
Current Liabilities 3,151,000,000
Current Debt 332,000,000
Non-Cash Working Capital (NCWC) 780,000,000
Change in NCWC 304,800,000
EBIT 1,298,000,000
Tax Provision 317,000,000
Depreciation and Amortization 1,174,000,000
Capital Expenditure -616,000,000
Unlevered Free Cash Flow 1,706,643,267
Current Assets 3,511,400,000
Current Cash 687,600,000
Current Liabilities 2,363,900,000
Current Debt 15,300,000
Non-Cash Working Capital (NCWC) 475,200,000
Change in NCWC 80,700,000
EBIT 1,099,200,000
Tax Provision 378,800,000
Depreciation and Amortization 669,500,000
Capital Expenditure -415,300,000
Unlevered Free Cash Flow 1,032,540,582
Current Assets 2,473,100,000
Current Cash 492,800,000
Current Liabilities 1,598,900,000
Current Debt 13,100,000
Non-Cash Working Capital (NCWC) 394,500,000
Change in NCWC 134,000,000
EBIT 1,270,600,000
Tax Provision 335,100,000
Depreciation and Amortization 626,300,000
Capital Expenditure -371,200,000
Unlevered Free Cash Flow 1,255,505,904
Current Assets 2,351,900,000
Current Cash 547,500,000
Current Liabilities 1,672,700,000
Current Debt 128,800,000
Non-Cash Working Capital (NCWC) 260,500,000
Change in NCWC 36,800,000
EBIT 1,064,400,000
Tax Provision 309,200,000
Depreciation and Amortization 614,600,000
Capital Expenditure -336,200,000
Unlevered Free Cash Flow 980,675,781
Current Assets 1,844,200,000
Current Cash 517,600,000
Current Liabilities 1,256,800,000
Current Debt 153,900,000
Non-Cash Working Capital (NCWC) 223,700,000
Change in NCWC 52,200,000
EBIT 1,079,200,000
Tax Provision 270,900,000
Depreciation and Amortization 632,800,000
Capital Expenditure -296,100,000
Unlevered Free Cash Flow 1,116,373,243

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