Fidelity National Financial vs Hartford
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The short version
- Hartford is the larger business, with $28.4B of revenue in fiscal 2025 against $14.4B for Fidelity National Financial, about 2.0 times as much.
- Hartford grew revenue faster (6.9%, against 5.6%).
- Investors pay more for each dollar of Fidelity National Financial’s earnings: a P/E of 14.0x against 8.8x for Hartford.
| Latest fiscal year | FNF · FY25 | HIG · FY25 |
|---|---|---|
| Size | ||
| Market cap | $10.8B | $37.8B |
| Revenue | $14.4B | $28.4B |
| Free cash flow | — | $5.8B |
| Net income | $602M | $3.8B |
| Growth | ||
| Revenue growth | 5.6% | 6.9% |
| 5-year growth | 6.0% | 6.7% |
| Share count change | −0.4% | −4.1% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | — | — |
| Net margin | 4.2% | 13.5% |
| FCF margin | — | 20.3% |
| Return on capital | — | 22.6% |
| Return on equity | 7.9% | 21.7% |
| Balance sheet | ||
| Net debt | −$156M | −$159M |
| Net debt / EBITDA | −0.1x | −0.0x |
| Dividends and buybacks | $797M | $2.2B |
| Valuation & quality | ||
| P/E | 14.0x | 8.8x |
| Piotroski F-score | — | — |
Revenue
FY16
FNF $7.3B
HIG $16.3B
FY17
FNF $7.7B
HIG $17.2B
FY18
FNF $7.6B
HIG $19.0B
FY19
FNF $8.5B
HIG $20.7B
FY20
FNF $10.8B
HIG $20.5B
FY21
FNF $15.7B
HIG $22.4B
FY22
FNF $11.6B
HIG $22.4B
FY23
FNF $11.8B
HIG $24.5B
FY24
FNF $13.7B
HIG $26.5B
FY25
FNF $14.4B
HIG $28.4B
FNF
HIG
Operating margin
FY16
FNF —
HIG —
FY17
FNF —
HIG —
FY18
FNF —
HIG —
FY19
FNF —
HIG —
FY20
FNF —
HIG —
FY21
FNF —
HIG —
FY22
FNF —
HIG —
FY23
FNF —
HIG —
FY24
FNF —
HIG —
FY25
FNF —
HIG —
FNF
HIG
Free cash flow
FY16
FNF —
HIG $1.8B
FY17
FNF —
HIG $1.9B
FY18
FNF —
HIG $2.7B
FY19
FNF —
HIG $3.4B
FY20
FNF —
HIG $3.8B
FY21
FNF —
HIG $4.0B
FY22
FNF —
HIG $3.8B
FY23
FNF —
HIG $4.0B
FY24
FNF —
HIG $5.8B
FY25
FNF —
HIG $5.8B
FNF
HIG
Return on capital
FY16
FNF 9.3%
HIG —
FY17
FNF 13.1%
HIG —
FY18
FNF 17.7%
HIG 11.8%
FY19
FNF 28.6%
HIG 14.7%
FY20
FNF 26.4%
HIG 10.3%
FY21
FNF 35.6%
HIG 13.5%
FY22
FNF 20.9%
HIG 12.2%
FY23
FNF —
HIG 18.1%
FY24
FNF —
HIG 20.4%
FY25
FNF —
HIG 22.6%
FNF
HIG
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.