-0.91 | -3.76%
FIDELITY NATIONAL FINANCIAL's gross profit margin for the first quarter of its fiscal year 2013 has decreased when compared to the same period a year ago. The company has grown sales and net income during the past quarter when compared with the same quarter a year ago, however, it was unable to keep up with the growth of the average competitor within its industry.
During the same period, stockholders' equity ("net worth") has increased by 15.01% from the same quarter last year.
| Income Statement | Q1 FY13 | Q1 FY12 |
|---|---|---|
| Net Sales ($mil) | 2054.0 | 1189.9 |
| EBITDA ($mil) | 222.0 | 137.7 |
| EBIT ($mil) | 170.0 | 120.7 |
| Net Income ($mil) | 90.0 | 74.4 |
| Balance Sheet | Q1 FY13 | Q1 FY12 |
|---|---|---|
| Cash & Equiv. ($mil) | 1201.0 | 1091.5 |
| Total Assets ($mil) | 9682.0 | 8002.1 |
| Total Debt ($mil) | 1354.0 | 1066.5 |
| Equity ($mil) | 4295.0 | 3734.2 |
| Profitability | Q1 FY13 | Q1 FY12 |
|---|---|---|
| Gross Profit Margin | 10.81 | 11.57 |
| EBITDA Margin | 10.8 | 11.57 |
| Operating Margin | 8.28 | 10.14 |
| Sales Turnover | 0.81 | 0.61 |
| Return on Assets | 6.42 | 5.01 |
| Return on Equity | 14.42 | 8.39 |
| Debt | Q1 FY13 | Q1 FY12 |
|---|---|---|
| Current Ratio | 0.0 | 0.0 |
| Debt/Capital | 0.24 | 0.22 |
| Interest Expense | 23.0 | 15.1 |
| Interest Coverage | 7.39 | 7.99 |
| Share Data | Q1 FY13 | Q1 FY12 |
|---|---|---|
| Shares outstanding (mil) | 227.37 | 222.8 |
| Div / share | 0.16 | 0.14 |
| EPS | 0.39 | 0.32 |
| Book value / share | 18.89 | 16.76 |
| Institutional Own % | n/a | n/a |
| Avg Daily Volume | 2651664.0 | 2049731.0 |
BUY. The current P/E ratio indicates a significant discount compared to an average of 5484.72 for the Insurance industry and a discount compared to the S&P 500 average of 18.91. To use another comparison, its price-to-book ratio of 1.29 indicates a discount versus the S&P 500 average of 2.42 and a significant discount versus the industry average of 440.39. The price-to-sales ratio is well below both the S&P 500 average and the industry average, indicating a discount. Upon assessment of these and other key valuation criteria, FIDELITY NATIONAL FINANCIAL proves to trade at a discount to investment alternatives within the industry.
| Price/Earnings |
|
Price/Cash Flow |
| |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FNF 8.94 | Peers 5484.72 | FNF 8.86 | Peers 3994.91 | |||||||||||||||||||||
|
Discount. A lower P/E ratio than its peers can signify a less expensive stock or lower growth expectations. FNF is trading at a significant discount to its peers. |
Discount. The P/CF ratio, a stock’s price divided by the company's cash flow from operations, is useful for comparing companies with different capital requirements or financing structures. FNF is trading at a significant discount to its peers. |
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| Price/Projected Earnings |
|
Price to Earnings/Growth |
|
|||||||||||||||||||||
| FNF 11.57 | Peers 10.83 | FNF NM | Peers 0.89 | |||||||||||||||||||||
|
Premium. A higher price-to-projected earnings ratio than its peers can signify a more expensive stock or higher future growth expectations. FNF is trading at a premium to its peers. |
Neutral. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples. FNF's negative PEG ratio makes this valuation measure meaningless. |
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| Price/Book |
|
Earnings Growth |
|
|||||||||||||||||||||
| FNF 1.29 | Peers 440.39 | FNF 93.61 | Peers 74.11 | |||||||||||||||||||||
|
Discount. A lower price-to-book ratio makes a stock more attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet. FNF is trading at a significant discount to its peers. |
Higher. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios. FNF is expected to have an earnings growth rate that significantly exceeds its peers. |
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| Price/Sales |
|
Sales Growth |
|
|||||||||||||||||||||
| FNF 0.70 | Peers 518.64 | FNF 61.11 | Peers 14.03 | |||||||||||||||||||||
|
Discount. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales. FNF is trading at a significant discount to its industry on this measurement. |
Higher. A sales growth rate that exceeds the industry implies that a company is gaining market share. FNF has a sales growth rate that significantly exceeds its peers. |
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