(Fibonacci numbers have a closed form analytic solution that can be computed in constant time: https://www.evanmiller.org/mathematical-hacker.html)
That's it. The nice closed form of exponentials as solutions is just for linear difference equations with constant coefficients. In that case, you can always find a solution by trying λ^n and seeing what that forces λ to be -- it'll be a root of some polynomial.
For small values, the iterative version works just fine. For larger values, there are other methods: one obvious one is using the matrix form of the Fibonacci numbers, which just requires you to take an exponent of a 2x2 matrix (which you can do quickly because of exponentiation by squaring).