FIS stock pitch - 2025-04-07

FIS is a core banking and issuer processing leader with 70% of its revenue from banking and 30% from capital markets. The company generates $10bn in revenue, $4bn in EBITDA, and $3bn in net profit. 80% of its revenue is recurring, and it has near-zero churn due to high switching costs. Long-term contracts provide stable income compared to transaction-based models. The stock is trading at 11x NTM P/E.