Fidelity National Information Services Inc (FIS) is undervalued and International Business Machines Corp (IBM) is fairly valued.
Against our estimates of intrinsic value, FIS trades at the wider discount: a margin of safety of +71%, against -5% for IBM.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 7.4% (average of 3 methods) values the shares at $121.43; the price of $34.96 is 71% below that value, and 81% of that value comes from beyond year five.
Leak Score 58/100 on 8 of 12 signals
Discounting its cash flows at 8.4% (average of 3 methods) values the shares at $220.67; the price of $231.38 is 5% above that value, and 78% of that value comes from beyond year five.
Leak Score 65/100 on 9 of 12 signals
| Metric | FIS | IBM |
|---|---|---|
| Verdict | Undervalued | Fairly valued |
| Price | $34.96 | $231.38 |
| Intrinsic value | $121.43 | $220.67 |
| Margin of safety | +71% | -5% |
| Leak Score | 58/100 (8/12) | 65/100 (9/12) |
| Market cap | $18.0B | $218.0B |
| Revenue growth, 5 years | -3.2% | 4.1% |
| Operating margin | 23.0% | 20.9% |
| Net margin | 27.6% | 15.5% |
| Return on equity | 22.3% | 34.5% |
| Debt to equity | 1.33 | 1.89 |
| P/E | 5.4x | 20.5x |
| Forward P/E | 5.2x | 17.6x |
| P/B | 1.1x | 6.3x |
| Dividend yield | 5.2% | 2.9% |