Fidelity National Information Services, Inc. (FIS)
FIS provides banking and payments technology that powers financial institutions and merchants.
FIS vs MA: how the two businesses compare
- Bigger business: MA, with $32.8B of yearly revenue, about 3.1× FIS's $10.7B.
- More profitable: MA keeps 46 cents of each sales dollar as profit, against 4 cents at FIS.
From each company's latest annual SEC filing. Fiscal years can end on different dates.
Mastercard (MA) is the larger business by reported revenue: $32.8B in its fiscal year ended Dec 2025, about 3.1× FIS's $10.7B (fiscal year ended Dec 2025). FIS's net margin was 3.6% and MA's 45.6%. Both file with the SEC under the same industry code, SIC 7389 (Services-Business Services, NEC).
Figures come from each company's own SEC filings. This page compares the businesses; it is not a price target or a verdict.
- Financials
- Business Services, NEC
- Same classification
- December 31
- Same calendar
- Feb 24, 2026
FIS vs MA: quick comparison
| Company fact | FIS | MA |
|---|---|---|
| Company | Fidelity National Information Services, Inc. | Mastercard Incorporated |
| Exchange | NYSE | NYSE |
| Headquarters | — | Purchase, New York |
| Founded | — | 1966 |
| SEC industry | Services-Business Services, NEC | Services-Business Services, NEC |
| Fiscal year-end | December 31 | December 31 |
| Latest annual filing | 10-K · 2026-02-24 | 10-K · 2026-02-11 |
FIS vs MA: audited financials
- Scale: MA's $32.8B of revenue is about 3.1× FIS's $10.7B.
- Net margin: MA kept 45.6% of revenue as net income versus 3.6% at FIS.
- Periods: both fiscal years end on 2025-12-31, so these annual figures cover the same months.
| Metric | FIS | MA |
|---|---|---|
| Revenue | $10.7B2025-01-01 to 2025-12-31 · SEC filing | $32.8B2025-01-01 to 2025-12-31 · SEC filing |
| Net income | $382M2025-01-01 to 2025-12-31 · SEC filing | $15.0B2025-01-01 to 2025-12-31 · SEC filing |
| Operating cash flow | — | $17.6B2025-01-01 to 2025-12-31 · SEC filing |
| Diluted EPS | $0.732025-01-01 to 2025-12-31 · SEC filing | $16.522025-01-01 to 2025-12-31 · SEC filing |
| Net margin | 3.6%2025-01-01 to 2025-12-31 · SEC filing | 45.6%2025-01-01 to 2025-12-31 · SEC filing |
FIS: FY ending 2025-12-31 · MA: FY ending 2025-12-31. Figures as tagged in each issuer's SEC XBRL filing; fiscal calendars may not align.
Where FIS and MA overlap, and where they don't
Overlap
- Same SEC industry: both report under SIC 7389, Services-Business Services, NEC.
- Same fiscal calendar: both fiscal years end December 31.
Differences
- Only MA maps to International markets and Economic trends.
- Scale: MA reported about 3.1× the annual revenue of FIS.
- Profitability: net margin of 3.6% for FIS versus 45.6% for MA.
Overlap is drawn from SEC classifications and Yield Theory research themes. It is not evidence that the companies sell to the same customers or compete product for product.
Mastercard Incorporated (MA)
Mastercard runs a global payments network that processes card and digital transactions for banks and merchants. Like its main rival, it profits from payment volumes rather than carrying credit risk.
What moves each company
Company-specific drivers maintained by Yield Theory. Use them to decide which filing deserves deeper work; they are not predictions.
What moves FIS
We have not yet published a company-specific driver list for FIS. The primary source is Item 1 (Business) and Item 1A (Risk Factors) of its 10-K filed 2026-02-24.
What moves MA
- Gross dollar volume and switched transactions across debit, credit and commercial programs
- Cross-border volume, where merchant and card-issuing countries differ
- Rebates and incentives to issuers and merchants, which reduce reported revenue
- Interchange and surcharging regulation and litigation
The investment question
You now know MA reports about 3.1× FIS's revenue, and MA keeps more of each dollar as net income. Those are the facts. The investment question is what each share price already assumes about the services-business services, nec cycle, including “Gross dollar volume and switched transactions across debit, credit and commercial programs” at MA, and which evidence in the next filings would prove that assumption wrong.
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Read the full researchSEC filing comparison and disclosure evidence
Start with primary filings because fiscal calendars and accounting presentation can make superficially similar quarters incomparable. Both fiscal years end December 31, so annual reports line up, but check segment definitions before comparing growth or margins.
The current verified House and Senate snapshot contains 22 matched transaction rows for FIS and 27 matched transaction rows for MA. These delayed, range-based disclosures can identify a filing to inspect; they do not establish motive, conviction, or a real-time trading signal.
FIS primary filings
MA primary filings
What this comparison cannot tell you
This page does not contain licensed live prices, a valuation model, earnings estimates, portfolio constraints, or a forecast of future returns. SEC classifications can be broad, company descriptions can lag strategic change, and the latest annual filing may predate a material acquisition or divestiture. Read subsequent quarterly and current reports before making a decision.
A stronger business is not automatically the better stock. Starting valuation, expectations, capital structure, cyclicality, dilution, and the probability of each thesis determine the investment outcome. Use this comparison to frame the work, then verify the numbers in the linked filings and current company disclosures.
More comparisons involving FIS or MA
FIS vs MA FAQs
Are FIS and MA direct competitors?
Fidelity National Information Services and Mastercard share the SEC industry classification “Services-Business Services, NEC.” That makes the operating comparison relevant, but it does not prove that every product, customer, or revenue stream competes directly.
Is FIS or MA the bigger company by revenue?
Mastercard (MA) is the larger business by reported revenue: $32.8B in its fiscal year ended Dec 2025, about 3.1× FIS's $10.7B (fiscal year ended Dec 2025). FIS's net margin was 3.6% and MA's 45.6%. Both file with the SEC under the same industry code, SIC 7389 (Services-Business Services, NEC). Each figure is the annual amount tagged in the company's own SEC XBRL filing; market value depends on live prices, which this page does not publish.
Which is better, FIS or MA?
There is no context-free winner. Compare the operating exposures, filing evidence, valuation, balance sheet, and risks against the specific thesis you are testing. This page deliberately does not turn a static profile into a buy or sell recommendation.
Does this FIS vs MA comparison include live prices?
No. Yield Theory does not republish unlicensed real-time market data. The financial figures on this page are the audited annual numbers Fidelity National Information Services, Inc. and Mastercard Incorporated tagged in their SEC XBRL filings. Use a regulated broker or licensed quote provider for current prices and valuation multiples.
Where does the company information come from?
Company classifications, fiscal year-ends, and filing links come from the SEC EDGAR submissions API snapshot refreshed 2026-10-13. Business summaries and research themes are maintained by Yield Theory.
Data snapshot: SEC EDGAR submissions API, refreshed 2026-10-13. Independent educational research; not investment advice.
Which business differences matter to the investment thesis?
FIS vs MA compares reported results. The reports below show how we connect operating evidence to an investment thesis, its assumptions, catalysts, and risks. $39/month or $249/year.
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