Fidelity National Financial (FNF) Operating Margin (2009 - 2026)
Fidelity National Financial (FNF) recorded quarterly Operating Margin of 25.48% in Q1 2026, up 22.45% quarter-over-quarter from 20.81% in Q4 2025, and down 237.0% on a YoY basis from 18.6% in Q1 2025.
Fidelity National Financial (FNF) Operating Margin (2009 - 2026) Analysis & Trends
Fidelity National Financial's Operating Margin history runs 18 years deep, the most recent figure standing at 25.48% for Q1 2026.
- In Q1 2026, Operating Margin fell 237.0% year-over-year to 25.48%; the TTM figure through Mar 2026 stood at 22.08% (down 213.0% YoY), while the FY2025 annual figure was 22.41%, down 43.0% from the prior year.
- Operating Margin was 25.48% for Q1 2026 at Fidelity National Financial, up from 20.81% in the prior quarter.
- In the past five years, Operating Margin ranged from a high of 27.85% in Q1 2025 to a low of 12.82% in Q3 2022.
- Historically, Operating Margin has averaged 21.44% across 5 years, with a median of 21.38% in 2025.
- The sharpest annual moves came in 2023 and 2025: Operating Margin jumped 1187 bps in 2023, then plunged 342 bps in 2025.
- A 5-year view of Operating Margin shows it stood at 21.08% in 2022, then dropped by 4 bps to 20.16% in 2023, then gained by 12 bps to 22.54% in 2024, then dropped by 8 bps to 20.81% in 2025, then advanced by 22 bps to 25.48% in 2026.
- The last three Operating Margin figures came in at 25.48% (Q1 2026), 20.81% (Q4 2025), and 21.27% (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Fidelity National Financial | 12.87 Bn | 10.21 Bn | 2.62 Bn | 25.48% |
| 2 | Axis Capital Holdings | 7.52 Bn | 6.65 Bn | - | - |
| 3 | First American Financial | 6.80 Bn | 3.91 Bn | 1.24 Bn | 8.29% |
| 4 | Enact Holdings | 6.01 Bn | 5.46 Bn | 205.74 Mn | 29.19% |
| 5 | Mgic Investment | 5.57 Bn | 5.32 Bn | 202.12 Mn | 26.23% |
| 6 | Essent | 5.47 Bn | 5.47 Bn | - | 17.63% |
| 7 | Radian | 4.74 Bn | 4.66 Bn | 368.17 Mn | 14.95% |
| 8 | Ryan Specialty Holdings | 4.62 Bn | 5.05 Bn | - | 12.08% |
| 9 | Assured Guaranty | 3.42 Bn | -495.48 Mn | 216.00 Mn | 35.25% |
| 10 | NMI Holdings | 2.82 Bn | 2.75 Bn | 152.85 Mn | 15.59% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 25.48% |
| Dec 31, 2025 | 20.81% |
| Sep 30, 2025 | 21.27% |
| Jun 30, 2025 | 21.38% |
| Mar 31, 2025 | 27.85% |
| Dec 31, 2024 | 22.54% |
| Sep 30, 2024 | 22.62% |
| Jun 30, 2024 | 24.79% |
| Mar 31, 2024 | 21.52% |
| Dec 31, 2023 | 20.16% |
| Sep 30, 2023 | 24.69% |
| Jun 30, 2023 | 20.14% |
| Mar 31, 2023 | 24.70% |
| Dec 31, 2022 | 21.08% |
| Sep 30, 2022 | 12.82% |
| Jun 30, 2022 | 17.57% |
| Mar 31, 2022 | 15.09% |
| Dec 31, 2021 | 11.17% |
| Sep 30, 2021 | 13.05% |
| Jun 30, 2021 | 13.34% |