Munger Mode rating: 2 out of 5 — Sell. Our own rating from the research report below, on business quality first: moat durability and management, with price separating the top three.
Written in the voice and framework of Warren Buffett and Charlie Munger. All figures from the Q2 2026 Form 10-Q (period ended June 30, 2026), company disclosures, and current market data as of August 5, 2026. We have watched this company for a long time, and the story keeps rhyming. FIS runs a genuinely sticky business — banks almost never rip out their core processing systems — attached to a corporate machine that has spent the better part of a decade destroying shareholder capital through serial dealmaking. The stock closed near $42 on August 4, down from a 52-week high of $79, after management cut full-year guidance just seven months after closing a $13.5 billion acquisition that re-levered the balance sheet to roughly $21 billion of debt. The shares now trade at about 7 times adjusted earnings and a 10% free-cash-flow yield, and we understand why value hunters are circling.
Recent filings analysed: 8-K (2026-08-04), 10-Q (2026-08-04), 8-K (2026-06-18), 8-K (2026-06-12).
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