Fidelity National Financial (FNF) Gross Margin (2009 - 2026)
Fidelity National Financial's (FNF) quarterly Gross Margin came in at 98.08% in Q1 2026, up 6.0% year-on-year from 92.53% in Q1 2025, and up 9.27% quarter-over-quarter from 89.76% in Q4 2025.
Fidelity National Financial (FNF) Gross Margin (2009 - 2026) Analysis & Trends
Fidelity National Financial's Gross Margin history runs 18 years deep, the most recent figure standing at 98.08% for Q1 2026.
- On a quarterly basis, Gross Margin rose 6.0% year-over-year to 98.08% in Q1 2026; TTM through Mar 2026 was 93.56%, a 963.0% decrease from a year earlier, with the FY2025 full-year figure at 88.82%, down 948.0% from the prior year.
- Gross Margin climbed to 98.08% in Q1 2026 per FNF's latest filing, from 89.76% in the prior quarter.
- Across five years, Gross Margin topped out at 125.41% in Q4 2024 and bottomed at 60.26% in Q4 2023.
- The 5-year median for Gross Margin is 88.56% (2025), against an average of 91.38%.
- Across the five-year window, Gross Margin jumped 6515 bps in 2024 and sank 3565 bps in 2025, its largest moves.
- Year by year, Gross Margin stood at 84.67% in 2022, then dropped by 29 bps to 60.26% in 2023, then soared by 108 bps to 125.41% in 2024, then fell by 28 bps to 89.76% in 2025, then climbed by 9 bps to 98.08% in 2026.
- Per Business Quant, the three latest FNF Gross Margin figures stand at 98.08% (Q1 2026), 89.76% (Q4 2025), and 98.26% (Q3 2025).
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Fidelity National Financial | 13.08 Bn | 10.42 Bn | 3.16 Bn | 98.08% |
| 2 | Axis Capital Holdings | 8.50 Bn | 7.97 Bn | 613.18 Mn | 41.42% |
| 3 | First American Financial | 7.10 Bn | 4.22 Bn | 1.77 Bn | 83.37% |
| 4 | Enact Holdings | 6.51 Bn | 5.96 Bn | 205.69 Mn | 84.70% |
| 5 | Mgic Investment | 6.26 Bn | 6.23 Bn | 263.84 Mn | 88.81% |
| 6 | Essent | 6.05 Bn | 6.05 Bn | 211.88 Mn | 81.46% |
| 7 | Radian | 5.96 Bn | 5.91 Bn | 304.36 Mn | 75.61% |
| 8 | Assured Guaranty | 3.78 Bn | 3.28 Bn | 65.00 Mn | 79.27% |
| 9 | NMI Holdings | 3.17 Bn | 3.10 Bn | 134.15 Mn | 86.65% |
| 10 | Employers Holdings | 957.12 Mn | 620.72 Mn | 51.80 Mn | 28.63% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 98.08% |
| Dec 31, 2025 | 89.76% |
| Sep 30, 2025 | 98.26% |
| Jun 30, 2025 | 88.56% |
| Mar 31, 2025 | 98.02% |
| Dec 31, 2024 | 125.41% |
| Sep 30, 2024 | 98.31% |
| Jun 30, 2024 | 87.75% |
| Mar 31, 2024 | 98.61% |
| Dec 31, 2023 | 60.26% |
| Sep 30, 2023 | 97.95% |
| Jun 30, 2023 | 87.16% |
| Mar 31, 2023 | 85.45% |
| Dec 31, 2022 | 84.67% |
| Sep 30, 2022 | 86.59% |
| Jun 30, 2022 | 82.66% |
| Mar 31, 2022 | 86.04% |
| Dec 31, 2021 | 89.67% |
| Sep 30, 2021 | 87.20% |
| Jun 30, 2021 | 87.65% |