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GSBR Research

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Founder, CEO, GSBR Research

Garvit Bhandari

Founder, CEO

Equity Bottom-Up

Fidelity National Info Serv / Equity Bottom-Up

<ul>
<li>Adjusted EBITDA margin improved to 40.8% in FY24 and is expanding further in FY25 as cost synergies and portfolio optimization take effect</li>
<li>Revenues rose 3% YoY to $10.1 billion in FY24 and is unlikely to see acceleration in FY25. Management expects low single digit revenue growth for fiscal 2025.</li>
<li>While margin recovery is underway, the lack of top-line acceleration and absence of any near-term catalysts limit upside in a market dominated by growth stories.</li>
</ul>


Adjusted EBITDA margin improved to 40.8% in FY24 and is expanding further in FY25 as cost synergies and portfolio optimization take effect
Revenues rose 3% YoY to $10.1 billion in FY24 and is unlikely to see acceleration in FY25. Management expects low single digit revenue growth for fiscal 2025.
While margin recovery is underway, the lack of top-line acceleration and absence of any near-term catalysts limit upside in a market dominated by growth stories.


Fidelity National Information (FIS) - Margin Recovery Continues, but Growth Lagging Peers