Enterprise Value to FCFF (EV/FCFF)
Free Cash Flow to The Firm (FCFF)
Fidelity National Information Services Inc., FCFF calculation
US$ in millions
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
| Item | Description | The company |
|---|---|---|
| FCFF | Free cash flow to the firm is the cash flow available to the Fidelity National Information Services Inc. suppliers of capital after all operating expenses have been paid and necessary investments in working and fixed capital have been made. | Fidelity National Information Services Inc. FCFF increased from 2020 to 2021 but then decreased significantly from 2021 to 2022. |
Interest Paid, Net of Tax
Fidelity National Information Services Inc., interest paid, net of tax calculation
US$ in millions
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
2 2022 Calculation
Cash paid for interest, tax = Cash paid for interest × EITR
= 417 × 21.00% = 88
Enterprise Value to FCFF Ratio, Current
Fidelity National Information Services Inc., current EV/FCFF calculation, comparison to benchmarks
| Selected Financial Data (US$ in millions) | |
| Enterprise value (EV) | 49,433) |
| Free cash flow to the firm (FCFF) | 2,878) |
| Valuation Ratio | |
| EV/FCFF | 17.17 |
| Benchmarks | |
| EV/FCFF, Competitors1 | |
| Accenture PLC | 25.76 |
| Adobe Inc. | 31.00 |
| Autodesk Inc. | 51.91 |
| Cadence Design Systems Inc. | 65.55 |
| CrowdStrike Holdings Inc. | 89.82 |
| International Business Machines Corp. | 17.92 |
| Intuit Inc. | 40.00 |
| Microsoft Corp. | 48.14 |
| Oracle Corp. | 40.49 |
| Palo Alto Networks Inc. | 41.50 |
| Salesforce Inc. | 32.67 |
| ServiceNow Inc. | 77.99 |
| Synopsys Inc. | 55.55 |
| EV/FCFF, Sector | |
| Software & Services | 48.15 |
| EV/FCFF, Industry | |
| Information Technology | 51.28 |
Based on: 10-K (reporting date: 2022-12-31).
1 Click competitor name to see calculations.
If the company EV/FCFF is lower then the EV/FCFF of benchmark then company is relatively undervalued.
Otherwise, if the company EV/FCFF is higher then the EV/FCFF of benchmark then company is relatively overvalued.
Enterprise Value to FCFF Ratio, Historical
Fidelity National Information Services Inc., historical EV/FCFF calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Enterprise value (EV)1 | 56,149) | 74,589) | 101,462) | 115,683) | 42,880) | |
| Free cash flow to the firm (FCFF)2 | 2,878) | 3,819) | 3,587) | 1,834) | 1,613) | |
| Valuation Ratio | ||||||
| EV/FCFF3 | 19.51 | 19.53 | 28.29 | 63.09 | 26.58 | |
| Benchmarks | ||||||
| EV/FCFF, Competitors4 | ||||||
| Accenture PLC | 16.99 | 24.76 | 17.90 | 18.49 | — | |
| Adobe Inc. | 20.82 | 33.61 | 40.43 | 40.48 | 31.36 | |
| Autodesk Inc. | 27.63 | 41.13 | 23.38 | 98.38 | — | |
| Cadence Design Systems Inc. | 44.54 | 35.05 | 44.13 | 29.35 | — | |
| CrowdStrike Holdings Inc. | 96.35 | 141.44 | 807.14 | — | — | |
| International Business Machines Corp. | 16.47 | 13.10 | 9.35 | 12.86 | — | |
| Intuit Inc. | 32.85 | 48.64 | 37.90 | 33.30 | — | |
| Microsoft Corp. | 32.31 | 38.37 | 33.99 | 26.37 | — | |
| Oracle Corp. | 31.60 | 16.36 | 14.99 | 14.03 | — | |
| Palo Alto Networks Inc. | 29.29 | 32.74 | 26.50 | 20.44 | — | |
| Salesforce Inc. | 35.97 | 44.91 | 39.63 | 41.21 | — | |
| ServiceNow Inc. | 40.86 | 60.13 | 83.74 | 67.96 | — | |
| Synopsys Inc. | 30.82 | 38.59 | 42.88 | 33.32 | 37.07 | |
| EV/FCFF, Sector | ||||||
| Software & Services | 29.55 | 32.31 | 27.29 | 23.61 | — | |
| EV/FCFF, Industry | ||||||
| Information Technology | 27.25 | 28.19 | 24.28 | 19.87 | — | |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
3 2022 Calculation
EV/FCFF = EV ÷ FCFF
= 56,149 ÷ 2,878 = 19.51
4 Click competitor name to see calculations.
| Valuation ratio | Description | The company |
|---|---|---|
| EV/FCFF | Enterprise value to free cash flow to the firm is whole company valuation indicator. | Fidelity National Information Services Inc. EV/FCFF ratio decreased from 2020 to 2021 and from 2021 to 2022. |