Fidelity National Financial (FNF) Operating Expenses (2009 - 2026)

Fidelity National Financial (FNF) recorded quarterly Operating Expenses of $2.7 billion in Q1 2026, down 24.22% quarter-over-quarter from $3.6 billion in Q4 2025, and up 4.2% on a YoY basis from $2.6 billion in Q1 2025.

Fidelity National Financial (FNF) Operating Expenses (2009 - 2026) Analysis & Trends

Fidelity National Financial's Operating Expenses history runs 18 years deep, the most recent figure standing at $2.7 billion for Q1 2026.

  • In Q1 2026, Operating Expenses rose 4.2% year-over-year to $2.7 billion; the TTM figure through Mar 2026 stood at $13.2 billion (up 13.54% YoY), while the FY2025 annual figure was $13.0 billion, up 9.29% from the prior year.
  • Operating Expenses was $2.7 billion for Q1 2026 at Fidelity National Financial, down from $3.6 billion in the prior quarter.
  • In the past five years, Operating Expenses ranged from a high of $3.6 billion in Q4 2023 to a low of $1.9 billion in Q2 2022.
  • Historically, Operating Expenses has averaged $2.9 billion across 5 years, with a median of $2.7 billion in 2026.
  • The sharpest annual moves came in 2022 and 2024: Operating Expenses slumped 39.38% in 2022, then soared 51.26% in 2024.
  • A 5-year view of Operating Expenses shows it stood at $2.6 billion in 2022, then jumped by 37.56% to $3.6 billion in 2023, then dropped by 17.19% to $3.0 billion in 2024, then rose by 20.76% to $3.6 billion in 2025, then declined by 24.22% to $2.7 billion in 2026.
  • The last three Operating Expenses figures came in at $2.7 billion (Q1 2026), $3.6 billion (Q4 2025), and $3.6 billion (Q3 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Fidelity National Financial 12.87 Bn 10.21 Bn 2.62 Bn 2.73 Bn
2 Axis Capital Holdings 7.52 Bn 6.65 Bn - 1.34 Bn
3 First American Financial 6.80 Bn 3.91 Bn 1.24 Bn 1.68 Bn
4 Enact Holdings 6.01 Bn 5.46 Bn 205.74 Mn 98.69 Mn
5 Mgic Investment 5.57 Bn 5.32 Bn 202.12 Mn 90.25 Mn
6 Essent 5.47 Bn 5.47 Bn - 129.35 Mn
7 Radian 4.74 Bn 4.66 Bn 368.17 Mn 292.67 Mn
8 Ryan Specialty Holdings 4.62 Bn 5.05 Bn - 700.63 Mn
9 Assured Guaranty 3.42 Bn -495.48 Mn 216.00 Mn 227.00 Mn
10 NMI Holdings 2.82 Bn 2.75 Bn 152.85 Mn 58.53 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 2.73 Bn
Dec 31, 2025 3.60 Bn
Sep 30, 2025 3.58 Bn
Jun 30, 2025 3.25 Bn
Mar 31, 2025 2.62 Bn
Dec 31, 2024 2.98 Bn
Sep 30, 2024 3.29 Bn
Jun 30, 2024 2.70 Bn
Mar 31, 2024 2.97 Bn
Dec 31, 2023 3.60 Bn
Sep 30, 2023 2.18 Bn
Jun 30, 2023 2.74 Bn
Mar 31, 2023 2.55 Bn
Dec 31, 2022 2.62 Bn
Sep 30, 2022 2.70 Bn
Jun 30, 2022 1.90 Bn
Mar 31, 2022 2.61 Bn
Dec 31, 2021 3.65 Bn
Sep 30, 2021 2.97 Bn
Jun 30, 2021 3.14 Bn