First American Financial (FAF) Financials

$65.48 -1.11 (-1.67%)

Closing price 08/28/2025 03:59 PM Eastern

Extended Trading

$65.42 -0.06 (-0.09%)

As of 08/28/2025 06:06 PM Eastern

Annual Income Statements for First American Financial

This table shows First American Financial's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	288	343	423	474	707	696	1,241	263	217	131
Consolidated Net Income / (Loss)	289	343	422	476	710	700	1,249	265	216	133
Net Income / (Loss) Continuing Operations	289	343	422	476	710	700	1,249	265	216	133
Total Pre-Tax Income	433	478	445	610	905	923	1,641	326	274	165
Total Revenue	5,175	5,576	5,772	5,707	6,154	7,029	9,148	7,512	5,871	5,979
Net Interest Income / (Expense)	0.00	0.00	0.00	-41	-48	-57	-72	-93	-133	-150
Total Interest Income	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Interest Expense	0.00	0.00	0.00	41	48	57	72	93	133	150
Long-Term Debt Interest Expense	-	-	-	41	48	57	72	93	133	150
Total Non-Interest Income	5,175	5,576	5,772	5,748	6,202	7,086	9,221	7,605	6,004	6,128
Other Service Charges	673	724	776	781	788	1,013	1,215	1,149	939	961
Net Realized & Unrealized Capital Gains on Investments	94	149	174	174	382	326	650	-176	364	159
Premiums Earned	4,408	4,703	4,823	4,793	5,032	5,747	7,356	6,632	4,701	5,008
Total Non-Interest Expense	4,743	5,098	5,327	5,097	5,249	6,106	7,507	7,187	5,597	5,813
Salaries and Employee Benefits	3,252	3,457	3,587	3,549	3,680	4,125	5,337	5,169	3,941	4,104
Property & Liability Insurance Claims	555	555	520	522	517	658	689	577	400	388
Other Operating Expenses	850	988	1,092	900	923	1,119	1,323	1,272	1,067	1,113
Depreciation Expense	86	99	128	126	129	149	158	168	189	207
Impairment Charge	-	-	-	0.00	0.00	55	0.00	0.00	0.00	0.00
Income Tax Expense	144	134	23	134	195	223	392	60	59	33
Net Income / (Loss) Attributable to Noncontrolling Interest	0.78	0.48	-1.19	1.40	3.00	4.00	8.00	2.30	-1.30	1.50
Basic Earnings per Share	$2.65	$3.10	$3.79	$4.21	$6.26	$6.18	$11.18	$2.46	$2.08	$1.26
Weighted Average Basic Shares Outstanding	108.43M	110.55M	111.67M	112.61M	113.10M	112.70M	111M	107M	104.30M	103.90M
Diluted Earnings per Share	$2.62	$3.09	$3.76	$4.19	$6.22	$6.16	$11.14	$2.45	$2.07	$1.26
Weighted Average Diluted Shares Outstanding	109.83M	111.16M	112.44M	113.28M	113.70M	113M	111.40M	107.30M	104.60M	104.30M
Weighted Average Basic & Diluted Shares Outstanding	108.70M	110.60M	111.60M	112.70M	112.51M	109.85M	109.34M	103.13M	103.10M	102.80M
Cash Dividends to Common per Share	$1.00	$1.20	$1.44	$1.60	$1.68	$1.78	$1.94	$2.06	$2.10	$2.14

This table shows First American Financial's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Income / (Loss) Attributable to Common Shareholders	2.00	54	46	139	-1.70	34	47	116	-104	72	74
Consolidated Net Income / (Loss)	2.40	55	46	136	-1.20	34	47	116	-103	73	75
Net Income / (Loss) Continuing Operations	2.40	55	46	136	-1.20	34	47	116	-103	73	75
Total Pre-Tax Income	-3.20	58	60	178	-1.70	38	58	152	-144	100	97
Total Revenue	1,800	1,655	1,417	1,613	1,445	1,396	1,390	1,577	1,370	1,641	1,547
Net Interest Income / (Expense)	-24	-30	-29	-34	-36	-33	-34	-35	-36	-44	-35
Total Interest Income	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00
Total Interest Expense	24	30	29	34	36	33	34	35	36	44	35
Long-Term Debt Interest Expense	24	30	29	34	36	33	34	35	36	44	35
Total Non-Interest Income	1,824	1,685	1,446	1,647	1,481	1,429	1,425	1,612	1,406	1,685	1,582
Other Service Charges	282	248	227	250	246	216	223	247	248	244	242
Net Realized & Unrealized Capital Gains on Investments	-126	28	127	157	-25	105	137	117	-165	71	124
Premiums Earned	1,668	1,409	1,093	1,240	1,260	1,109	1,065	1,249	1,324	1,371	1,216
Total Non-Interest Expense	1,804	1,597	1,357	1,435	1,447	1,358	1,332	1,425	1,514	1,542	1,451
Salaries and Employee Benefits	1,295	1,149	957	1,011	1,017	957	933	1,001	1,070	1,100	1,032
Property & Liability Insurance Claims	155	126	97	105	109	89	83	95	111	99	88
Other Operating Expenses	312	280	259	273	274	262	266	277	280	291	278
Depreciation Expense	41	44	46	46	47	50	50	52	53	52	53
Income Tax Expense	-5.60	3.10	14	42	-0.50	4.10	12	35	-41	27	22
Net Income / (Loss) Attributable to Noncontrolling Interest	0.40	0.30	0.10	-2.10	0.50	0.20	0.00	0.40	0.60	0.50	0.60
Basic Earnings per Share	$0.02	$0.54	$0.44	$1.33	($0.02)	$0.33	$0.45	$1.11	($1.00)	$0.70	$0.72
Weighted Average Basic Shares Outstanding	105.30M	107M	104.50M	104.30M	104.20M	104.30M	104.10M	104.10M	103.60M	103.90M	103.80M
Diluted Earnings per Share	$0.02	$0.54	$0.44	$1.33	($0.02)	$0.32	$0.45	$1.11	($1.00)	$0.70	$0.71
Weighted Average Diluted Shares Outstanding	105.50M	107.30M	104.80M	104.50M	104.20M	104.60M	104.40M	104.30M	103.60M	104.30M	104.20M
Weighted Average Basic & Diluted Shares Outstanding	103.54M	103.13M	103.21M	103.09M	103.18M	103.10M	103.72M	102.89M	103.00M	102.80M	102.90M
Cash Dividends to Common per Share	$0.52	$0.52	$0.52	$0.52	$0.53	$0.53	$0.53	$0.53	$0.54	$0.54	$0.54

This table details how cash moves in and out of First American Financial's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	-163	-21	373	80	19	-211	-48	-4.50	2,382	-1,887
Net Cash From Operating Activities	551	489	632	793	913	1,085	1,220	778	354	898
Net Cash From Continuing Operating Activities	551	489	632	793	913	1,085	1,220	778	354	898
Net Income / (Loss) Continuing Operations	289	343	422	476	710	700	1,249	265	216	133
Consolidated Net Income / (Loss)	289	343	422	476	710	700	1,249	265	216	133
Depreciation Expense	86	99	128	126	129	149	158	168	189	207
Amortization Expense	28	28	31	27	27	39	47	19	8.60	-3.00
Non-Cash Adjustments to Reconcile Net Income	61	19	12	102	2.00	72	-307	667	214	340
Changes in Operating Assets and Liabilities, net	87	-0.22	39	63	45	125	73	-341	-272	221
Net Cash From Investing Activities	-974	-610	-387	-1,221	-452	-1,415	-3,393	-393	600	-459
Net Cash From Continuing Investing Activities	-974	-610	-387	-1,221	-452	-1,415	-3,393	-393	600	-459
Purchase of Investment Securities	-2,274	-2,302	-2,054	-5,625	-10,576	-21,045	-32,622	-19,339	-15,068	-35,750
Sale of Property, Leasehold Improvements and Equipment	17	9.22	9.98	2.63	1.00	14	18	6.80	0.10	0.60
Sale and/or Maturity of Investments	1,287	1,682	1,809	4,516	10,130	19,615	29,226	18,947	15,660	35,326
Other Investing Activities, net	-4.39	0.71	-18	3.36	-7.00	1.00	-15	-7.70	7.90	-35
Net Cash From Financing Activities	266	107	128	515	-445	113	2,126	-376	1,423	-2,309
Net Cash From Continuing Financing Activities	266	107	128	515	-445	113	2,126	-376	1,423	-2,309
Net Change in Deposits	366	80	291	716	-449	-60	1,792	451	1,788	-2,260
Issuance of Debt	0.00	160	0.00	2,381	8,152	16,006	25,244	15,533	13,384	28,852
Repayment of Debt	-5.24	-5.17	-5.54	-2,380	-7,956	-15,491	-24,599	-15,702	-13,453	-28,622
Repurchase of Common Equity	0.00	-0.45	0.00	-19	-2.00	-139	-99	-441	-73	-69
Payment of Dividends	-109	-132	-159	-178	-188	-199	-213	-218	-217	-221
Other Financing Activities, Net	14	3.49	1.76	-4.85	-2.00	-4.00	2.00	0.30	-6.70	9.40
Effect of Exchange Rate Changes	-6.02	-7.24	-	-7.37	3.00	6.00	-0.40	-13	4.90	-17
Cash Interest Paid	29	30	34	39	46	54	64	87	124	151
Cash Income Taxes Paid	89	116	126	92	179	193	340	193	122	46

This table details how cash moves in and out of First American Financial's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Change in Cash & Equivalents	617	-1,138	760	263	-667	2,026	-2,099	542	905	-1,235	327
Net Cash From Operating Activities	303	245	-92	269	219	-42	69	267	237	325	-53
Net Cash From Continuing Operating Activities	303	245	-92	269	219	-42	69	267	237	325	-53
Net Income / (Loss) Continuing Operations	2.40	55	46	136	-1.20	34	47	116	-103	73	75
Consolidated Net Income / (Loss)	2.40	55	46	136	-1.20	34	47	116	-103	73	75
Depreciation Expense	41	44	46	46	47	50	50	52	53	52	53
Amortization Expense	1.00	0.50	1.60	1.30	2.70	3.00	2.10	1.90	1.10	-8.10	-10
Non-Cash Adjustments to Reconcile Net Income	249	134	5.90	2.60	148	57	-53	17	293	82	36
Changes in Operating Assets and Liabilities, net	8.40	13	-191	83	23	-186	24	79	-7.20	126	-206
Net Cash From Investing Activities	-60	-138	427	-181	-61	415	-231	101	-295	-33	-235
Net Cash From Continuing Investing Activities	-60	-138	427	-181	-61	415	-231	101	-295	-33	-235
Purchase of Investment Securities	-4,355	-3,691	-3,128	-4,212	-4,163	-3,565	-5,214	-6,407	-13,856	-10,273	-8,393
Sale of Property, Leasehold Improvements and Equipment	6.60	-	0.10	-	-	-	0.00	-	-	0.60	0.10
Sale and/or Maturity of Investments	4,287	3,552	3,545	4,033	4,103	3,978	5,005	6,487	13,559	10,275	8,136
Other Investing Activities, net	1.10	0.70	9.30	-2.60	-0.60	1.80	-23	21	2.90	-35	23
Net Cash From Financing Activities	385	-1,251	424	171	-820	1,648	-1,932	175	957	-1,509	612
Net Cash From Continuing Financing Activities	385	-1,251	424	171	-820	1,648	-1,932	175	957	-1,509	612
Net Change in Deposits	602	-1,209	630	160	-696	1,695	-2,005	313	346	-914	613
Issuance of Debt	3,259	2,674	2,749	3,627	3,693	3,314	4,733	5,976	9,225	8,918	7,593
Repayment of Debt	-3,355	-2,632	-2,865	-3,546	-3,750	-3,293	-4,598	-6,025	-8,546	-9,454	-7,501
Repurchase of Common Equity	-72	-34	-30	-15	-9.30	-18	-3.50	-41	-16	-8.20	-28
Payment of Dividends	-54	-54	-54	-54	-55	-55	-55	-55	-56	-56	-56
Other Financing Activities, Net	4.90	3.40	-7.10	-0.30	-3.00	3.70	-3.90	5.70	4.00	3.60	-8.10
Effect of Exchange Rate Changes	-11	6.20	1.60	3.10	-5.00	5.20	-4.60	-0.30	5.90	-18	2.00
Cash Interest Paid	20	28	26	34	29	35	36	42	31	41	41
Cash Income Taxes Paid	65	22	1.90	12	9.00	100	3.40	8.30	18	16	13

This table presents First American Financial's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	8,237	8,832	9,573	10,631	11,519	12,796	16,451	14,955	16,803	14,909
Cash and Due from Banks	1,027	1,006	1,387	1,467	1,486	1,275	1,228	1,224	3,605	1,718
Interest Bearing Deposits at Other Banks	23	21	41	36	44	46	58	63	56	85
Trading Account Securities	4,601	4,957	5,219	6,067	6,306	7,105	10,538	8,924	7,893	7,957
Loans and Leases, Net of Allowance	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accrued Investment Income	257	300	311	326	324	385	441	367	509	375
Premises and Equipment, Net	946	998	1,008	1,035	1,022	1,030	1,093	1,277	1,402	1,419
Goodwill	964	1,017	1,113	1,144	1,151	1,379	1,588	1,798	1,808	1,804
Intangible Assets	48	79	100	109	92	194	218	194	154	125
Other Assets	370	452	393	445	1,094	1,382	1,287	1,109	1,376	1,425
Total Liabilities & Shareholders' Equity	8,237	8,832	9,573	10,631	11,519	12,796	16,451	14,955	16,803	14,909
Total Liabilities	5,484	5,817	6,090	6,885	7,094	7,874	10,668	10,274	11,940	9,982
Non-Interest Bearing Deposits	2,699	2,779	3,071	3,786	3,337	3,277	5,069	5,520	7,308	5,048
Long-Term Debt	581	737	733	808	1,007	1,527	2,186	2,012	1,947	2,190
Claims and Claim Expense	984	1,026	1,029	1,043	1,063	1,178	1,284	1,325	1,282	1,193
Other Long-Term Liabilities	983	1,022	995	1,001	1,410	1,892	2,129	1,417	1,402	1,550
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	2,753	3,014	3,483	3,745	4,425	4,922	5,783	4,681	4,863	4,927
Total Preferred & Common Equity	2,750	3,008	3,480	3,742	4,420	4,910	5,767	4,658	4,848	4,909
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	2,750	3,008	3,480	3,742	4,420	4,910	5,767	4,658	4,848	4,909
Common Stock	2,151	2,192	2,236	2,258	2,301	2,215	2,179	1,812	1,793	1,788
Retained Earnings	838	1,047	1,311	1,644	2,161	2,655	3,680	3,714	3,711	3,617
Accumulated Other Comprehensive Income / (Loss)	-239	-230	-68	-161	-41	40	-92	-869	-656	-496
Noncontrolling Interest	3.16	6.17	3.07	3.51	4.52	12	16	23	15	19

This table presents First American Financial's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025
Total Assets	16,486	15,384	15,731	14,678	14,698	15,157	16,566	15,497
Cash and Due from Banks	2,361	1,983	2,246	1,579	1,506	2,049	2,953	2,045
Interest Bearing Deposits at Other Banks	61	54	56	55	77	56	55	63
Trading Account Securities	8,917	8,399	8,322	7,936	7,787	7,791	7,740	8,121
Loans and Leases, Net of Allowance	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accrued Investment Income	397	367	385	389	366	404	391	377
Premises and Equipment, Net	1,205	1,307	1,344	1,379	1,422	1,441	1,455	1,414
Goodwill	1,811	1,805	1,802	1,800	1,807	1,808	1,811	1,810
Intangible Assets	205	185	174	162	148	137	135	122
Other Assets	1,529	1,284	1,402	1,377	1,585	1,471	2,027	1,547
Total Liabilities & Shareholders' Equity	16,486	15,384	15,731	14,678	14,698	15,157	16,566	15,497
Total Liabilities	11,955	10,605	10,944	10,136	9,892	10,325	11,456	10,457
Non-Interest Bearing Deposits	6,728	6,150	6,309	5,613	5,303	5,616	5,962	5,661
Other Short-Term Payables	1,115	721	790	811	745	907	897	724
Long-Term Debt	1,988	1,897	1,979	1,923	2,085	2,041	2,726	2,282
Claims and Claim Expense	1,314	1,315	1,322	1,300	1,262	1,252	1,230	1,188
Other Long-Term Liabilities	810	522	544	490	497	508	641	602
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	4,531	4,779	4,787	4,542	4,806	4,833	5,111	5,041
Total Preferred & Common Equity	4,508	4,757	4,772	4,527	4,787	4,814	5,092	5,019
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	4,508	4,757	4,772	4,527	4,787	4,814	5,092	5,019
Common Stock	1,834	1,800	1,800	1,798	1,806	1,781	1,781	1,784
Retained Earnings	3,722	3,712	3,796	3,739	3,702	3,762	3,601	3,635
Accumulated Other Comprehensive Income / (Loss)	-1,048	-756	-824	-1,010	-721	-730	-291	-400
Noncontrolling Interest	23	22	15	15	19	19	18	22

This table displays calculated financial ratios and metrics derived from First American Financial's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	10.64%	7.74%	3.52%	-1.13%	7.84%	14.22%	30.15%	-17.89%	-21.85%	1.83%
EBITDA Growth	18.67%	10.64%	-0.06%	26.11%	39.16%	4.71%	66.19%	-72.27%	-7.91%	-21.57%
EBIT Growth	23.45%	10.36%	-6.75%	36.87%	48.47%	1.99%	77.82%	-80.16%	-15.75%	-39.72%
NOPAT Growth	23.34%	18.90%	22.82%	12.81%	49.19%	-1.41%	78.44%	-78.76%	-18.77%	-38.47%
Net Income Growth	23.34%	18.90%	22.82%	12.81%	49.19%	-1.41%	78.44%	-78.76%	-18.77%	-38.47%
EPS Growth	21.86%	17.94%	21.68%	11.44%	48.45%	-0.96%	80.84%	-78.01%	-15.51%	-39.13%
Operating Cash Flow Growth	52.87%	-11.23%	29.16%	25.47%	15.11%	18.84%	12.43%	-36.26%	-54.44%	153.32%
Free Cash Flow Firm Growth	172.60%	-162.16%	41.51%	421.48%	-221.67%	-88.98%	14.64%	668.84%	-93.59%	-276.92%
Invested Capital Growth	5.40%	12.50%	12.39%	8.01%	19.28%	18.73%	23.57%	-16.01%	1.74%	4.51%
Revenue Q/Q Growth	1.83%	2.72%	-0.40%	-1.81%	5.64%	6.31%	2.59%	-8.49%	-4.23%	4.28%
EBITDA Q/Q Growth	-1.00%	-4.43%	15.17%	-4.81%	19.02%	10.15%	-2.34%	-35.73%	-2.22%	16.66%
EBIT Q/Q Growth	-1.39%	-6.89%	21.20%	-6.22%	23.06%	11.27%	-2.94%	-45.74%	-6.57%	59.19%
NOPAT Q/Q Growth	0.35%	-0.23%	49.54%	-21.14%	22.75%	8.71%	-1.56%	-43.77%	-8.61%	41.06%
Net Income Q/Q Growth	0.35%	-0.23%	49.54%	-21.14%	22.75%	8.71%	-1.56%	-43.77%	-8.61%	41.06%
EPS Q/Q Growth	0.00%	0.00%	48.03%	-21.54%	22.68%	9.03%	-1.33%	-42.08%	-9.61%	43.18%
Operating Cash Flow Q/Q Growth	0.85%	8.44%	-8.75%	19.91%	-0.76%	10.45%	-4.69%	-11.24%	-44.76%	68.96%
Free Cash Flow Firm Q/Q Growth	182.70%	49.11%	-366.32%	-0.11%	-27.35%	24.67%	13.55%	-14.78%	-65.95%	86.32%
Invested Capital Q/Q Growth	1.71%	-0.41%	4.55%	1.24%	4.29%	2.80%	1.45%	2.67%	5.34%	-9.18%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	10.56%	10.85%	10.47%	13.36%	17.24%	15.81%	20.18%	6.82%	8.03%	6.19%
EBIT Margin	8.36%	8.57%	7.71%	10.68%	14.71%	13.13%	17.94%	4.34%	4.67%	2.77%
Profit (Net Income) Margin	5.58%	6.16%	7.31%	8.34%	11.54%	9.96%	13.65%	3.53%	3.67%	2.22%
Tax Burden Percent	66.75%	71.92%	94.73%	78.08%	78.45%	75.84%	76.10%	81.46%	78.54%	80.17%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	33.25%	28.08%	5.27%	21.92%	21.55%	24.16%	23.90%	18.54%	21.47%	19.83%
Return on Invested Capital (ROIC)	8.89%	9.70%	10.59%	10.85%	14.22%	11.78%	17.33%	3.62%	3.19%	1.90%
ROIC Less NNEP Spread (ROIC-NNEP)	8.89%	9.70%	10.59%	10.85%	14.22%	11.78%	17.33%	3.62%	3.19%	1.90%
Return on Net Nonoperating Assets (RNNOA)	1.95%	2.22%	2.40%	2.31%	3.16%	3.19%	6.01%	1.45%	1.32%	0.80%
Return on Equity (ROE)	10.84%	11.91%	12.99%	13.17%	17.38%	14.98%	23.34%	5.07%	4.52%	2.71%
Cash Return on Invested Capital (CROIC)	3.63%	-2.07%	-1.08%	3.15%	-3.36%	-5.34%	-3.76%	21.02%	1.46%	-2.51%
Operating Return on Assets (OROA)	5.44%	5.60%	4.84%	6.03%	8.17%	7.59%	11.22%	2.07%	1.73%	1.04%
Return on Assets (ROA)	3.63%	4.02%	4.58%	4.71%	6.41%	5.76%	8.54%	1.69%	1.36%	0.84%
Return on Common Equity (ROCE)	10.83%	11.89%	12.97%	13.16%	17.36%	14.95%	23.28%	5.05%	4.50%	2.70%
Return on Equity Simple (ROE_SIMPLE)	10.50%	11.42%	12.12%	12.72%	16.06%	14.26%	21.66%	5.70%	4.45%	2.70%
Net Operating Profit after Tax (NOPAT)	289	343	422	476	710	700	1,249	265	216	133
NOPAT Margin	5.58%	6.16%	7.31%	8.34%	11.54%	9.96%	13.65%	3.53%	3.67%	2.22%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	62.83%	61.99%	62.14%	62.18%	59.80%	58.69%	58.34%	68.81%	67.13%	68.65%
Operating Expenses to Revenue	91.64%	91.43%	92.29%	89.32%	85.29%	86.87%	82.06%	95.66%	95.33%	97.23%
Earnings before Interest and Taxes (EBIT)	433	478	445	610	905	923	1,641	326	274	165
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	547	605	605	762	1,061	1,111	1,846	512	472	370
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.08	1.05	1.44	1.11	1.27	1.04	1.36	1.08	1.32	1.31
Price to Tangible Book Value (P/TBV)	1.70	1.64	2.21	1.67	1.77	1.53	1.98	1.89	2.22	2.16
Price to Revenue (P/Rev)	0.57	0.56	0.87	0.73	0.91	0.73	0.86	0.67	1.09	1.08
Price to Earnings (P/E)	10.27	9.17	11.84	8.74	7.94	7.33	6.31	19.19	29.61	49.06
Dividend Yield	3.68%	4.19%	3.19%	4.31%	3.36%	3.90%	2.72%	4.23%	3.38%	3.43%
Earnings Yield	9.74%	10.91%	8.45%	11.44%	12.59%	13.64%	15.84%	5.21%	3.38%	2.04%
Enterprise Value to Invested Capital (EV/IC)	0.75	0.76	1.02	0.76	0.94	0.83	1.10	0.87	0.69	0.96
Enterprise Value to Revenue (EV/Rev)	0.48	0.51	0.75	0.61	0.83	0.76	0.96	0.77	0.80	1.14
Enterprise Value to EBITDA (EV/EBITDA)	4.56	4.73	7.14	4.54	4.80	4.79	4.74	11.32	10.01	18.49
Enterprise Value to EBIT (EV/EBIT)	5.76	5.99	9.69	5.67	5.63	5.76	5.33	17.79	17.20	41.34
Enterprise Value to NOPAT (EV/NOPAT)	8.62	8.32	10.23	7.27	7.18	7.60	7.01	21.84	21.90	51.56
Enterprise Value to Operating Cash Flow (EV/OCF)	4.52	5.84	6.83	4.36	5.58	4.90	7.17	7.45	13.32	7.62
Enterprise Value to Free Cash Flow (EV/FCFF)	21.10	0.00	0.00	25.05	0.00	0.00	0.00	3.76	47.78	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.21	0.24	0.21	0.22	0.23	0.31	0.38	0.43	0.40	0.44
Long-Term Debt to Equity	0.21	0.24	0.21	0.22	0.23	0.31	0.38	0.43	0.40	0.44
Financial Leverage	0.22	0.23	0.23	0.21	0.22	0.27	0.35	0.40	0.41	0.42
Leverage Ratio	2.98	2.96	2.83	2.80	2.71	2.60	2.73	3.00	3.33	3.24
Compound Leverage Factor	2.98	2.96	2.83	2.80	2.71	2.60	2.73	3.00	3.33	3.24
Debt to Total Capital	17.43%	19.64%	17.38%	17.75%	18.53%	23.68%	27.43%	30.06%	28.59%	30.78%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	17.43%	19.64%	17.38%	17.75%	18.53%	23.68%	27.43%	30.06%	28.59%	30.78%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.09%	0.16%	0.07%	0.08%	0.08%	0.19%	0.20%	0.35%	0.22%	0.26%
Common Equity to Total Capital	82.48%	80.20%	82.54%	82.17%	81.38%	76.14%	72.37%	69.59%	71.19%	68.96%
Debt to EBITDA	1.06	1.22	1.21	1.06	0.95	1.37	1.18	3.93	4.13	5.92
Net Debt to EBITDA	-0.86	-0.48	-1.15	-0.91	-0.49	0.19	0.49	1.42	-3.64	1.05
Long-Term Debt to EBITDA	1.06	1.22	1.21	1.06	0.95	1.37	1.18	3.93	4.13	5.92
Debt to NOPAT	2.01	2.14	1.74	1.70	1.42	2.18	1.75	7.58	9.04	16.52
Net Debt to NOPAT	-1.63	-0.85	-1.65	-1.46	-0.74	0.29	0.72	2.73	-7.95	2.92
Long-Term Debt to NOPAT	2.01	2.14	1.74	1.70	1.42	2.18	1.75	7.58	9.04	16.52
Noncontrolling Interest Sharing Ratio	0.12%	0.16%	0.14%	0.09%	0.10%	0.18%	0.26%	0.38%	0.40%	0.34%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	118	-73	-43	138	-168	-317	-271	1,541	99	-175
Operating Cash Flow to CapEx	0.00%	0.00%	508.85%	686.49%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	3.37	-3.50	-5.57	-3.74	16.57	0.75	-1.17
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	19.36	19.02	19.04	16.85	8.36	2.67	6.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	16.54	19.04	19.28	17.10	8.43	2.67	6.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.65	0.65	0.63	0.56	0.56	0.58	0.63	0.48	0.37	0.38
Fixed Asset Turnover	5.53	5.74	5.75	5.59	5.98	6.85	8.62	6.34	4.38	4.24
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	3,334	3,751	4,216	4,554	5,432	6,449	7,969	6,693	6,810	7,117
Invested Capital Turnover	1.59	1.57	1.45	1.30	1.23	1.18	1.27	1.02	0.87	0.86
Increase / (Decrease) in Invested Capital	171	417	465	338	878	1,017	1,520	-1,276	117	307
Enterprise Value (EV)	2,491	2,859	4,317	3,458	5,094	5,320	8,751	5,795	4,721	6,837
Market Capitalization	2,957	3,144	5,009	4,149	5,614	5,102	7,835	5,046	6,420	6,432
Book Value per Share	$25.29	$27.39	$31.40	$33.47	$39.35	$43.98	$52.54	$44.98	$46.99	$47.65
Tangible Book Value per Share	$15.98	$17.41	$20.46	$22.26	$28.29	$29.89	$36.09	$25.75	$27.98	$28.92
Total Capital	3,334	3,751	4,216	4,554	5,432	6,449	7,969	6,693	6,810	7,117
Total Debt	581	737	733	808	1,007	1,527	2,186	2,012	1,947	2,190
Total Long-Term Debt	581	737	733	808	1,007	1,527	2,186	2,012	1,947	2,190
Net Debt	-469	-291	-696	-695	-524	206	900	725	-1,714	387
Capital Expenditures (CapEx)	-17	-9.22	124	116	-1.00	-14	-18	-6.80	-0.10	-0.60
Net Nonoperating Expense (NNE)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	581	737	733	808	1,007	1,527	2,186	2,012	1,947	2,190
Total Depreciation and Amortization (D&A)	114	127	159	153	156	188	205	186	197	204
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.65	$3.10	$3.79	$4.21	$6.26	$6.18	$11.18	$2.46	$2.08	$1.26
Adjusted Weighted Average Basic Shares Outstanding	108.43M	110.55M	111.67M	112.61M	113.08M	112.75M	111M	107M	104.30M	103.90M
Adjusted Diluted Earnings per Share	$2.62	$3.09	$3.76	$4.19	$6.22	$6.16	$11.14	$2.45	$2.07	$1.26
Adjusted Weighted Average Diluted Shares Outstanding	109.83M	111.16M	112.44M	113.28M	113.66M	113.02M	111.40M	107.30M	104.60M	104.30M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$6.26	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	109.09M	109.97M	110.96M	111.48B	112.51M	109.85M	109.34M	103.13M	103.10M	102.80M
Normalized Net Operating Profit after Tax (NOPAT)	289	343	422	476	710	742	1,249	265	216	133
Normalized NOPAT Margin	5.58%	6.16%	7.31%	8.34%	11.54%	10.55%	13.65%	3.53%	3.67%	2.22%
Pre Tax Income Margin	8.36%	8.57%	7.71%	10.68%	14.71%	13.13%	17.94%	4.34%	4.67%	2.77%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	14.87	18.85	16.19	22.67	3.50	2.07	1.11
NOPAT to Interest Expense	0.00	0.00	0.00	11.61	14.79	12.28	17.25	2.85	1.63	0.89
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	12.06	18.88	16.44	22.92	3.58	2.07	1.11
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	8.79	14.81	12.53	17.50	2.93	1.63	0.89
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	37.57%	38.30%	37.76%	37.51%	26.48%	28.43%	17.05%	81.98%	100.51%	166.44%
Augmented Payout Ratio	37.57%	38.43%	37.76%	41.46%	26.76%	48.29%	24.99%	248.10%	134.25%	218.10%

This table displays calculated financial ratios and metrics derived from First American Financial's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-29.04%	-29.64%	-29.64%	-21.06%	-19.71%	-15.65%	-1.88%	-2.21%	-5.22%	17.58%	11.28%
EBITDA Growth	-94.01%	-73.68%	-41.37%	19.25%	23.21%	-10.52%	3.56%	-8.82%	-286.54%	58.02%	25.88%
EBIT Growth	-100.53%	-82.64%	-54.08%	25.95%	46.88%	-33.45%	-2.18%	-14.88%	-8,394.12%	160.16%	65.69%
NOPAT Growth	-100.50%	-79.09%	-53.11%	23.78%	46.88%	-37.18%	1.52%	-14.66%	-8,394.12%	112.54%	60.17%
Net Income Growth	-99.47%	-79.09%	-53.11%	23.78%	-150.00%	-37.18%	1.52%	-14.66%	-8,516.67%	112.54%	60.17%
EPS Growth	-99.50%	-76.72%	-50.00%	31.68%	-200.00%	-40.74%	2.27%	-16.54%	-4,900.00%	118.75%	57.78%
Operating Cash Flow Growth	-24.16%	-28.64%	-340.99%	40.62%	-27.53%	-116.99%	175.08%	-0.86%	8.03%	878.42%	-176.19%
Free Cash Flow Firm Growth	217.84%	205.67%	210.22%	10,185.27%	-96.01%	-106.19%	-117.58%	-97.75%	-2,868.24%	-184.59%	-113.24%
Invested Capital Growth	-17.01%	-16.01%	-11.97%	-3.45%	-0.83%	1.74%	3.21%	1.59%	21.22%	4.51%	6.28%
Revenue Q/Q Growth	-11.87%	-8.07%	-14.39%	13.80%	-10.37%	-3.42%	-0.41%	13.42%	-13.13%	19.82%	-5.75%
EBITDA Q/Q Growth	-79.27%	159.44%	4.92%	111.34%	-78.58%	88.41%	21.43%	86.06%	-143.82%	259.60%	-3.27%
EBIT Q/Q Growth	-102.26%	1,903.13%	3.29%	198.83%	-100.95%	2,358.82%	51.82%	160.03%	-195.25%	169.18%	-3.30%
NOPAT Q/Q Growth	-102.03%	2,537.50%	-15.75%	196.52%	-100.87%	2,982.35%	36.15%	149.25%	-186.84%	172.12%	2.61%
Net Income Q/Q Growth	-97.82%	2,175.00%	-15.75%	196.52%	-100.88%	2,958.33%	36.15%	149.25%	-188.83%	170.50%	2.61%
EPS Q/Q Growth	-98.02%	2,600.00%	-18.52%	202.27%	-101.50%	1,700.00%	40.63%	146.67%	-190.09%	170.00%	1.43%
Operating Cash Flow Q/Q Growth	58.18%	-18.90%	-137.61%	391.44%	-18.48%	-119.02%	266.19%	284.85%	-11.17%	37.02%	-116.27%
Free Cash Flow Firm Q/Q Growth	35,650.63%	-0.29%	-28.31%	-60.31%	-85.94%	-254.86%	-103.52%	105.07%	-17,429.18%	84.08%	-52.49%
Invested Capital Q/Q Growth	-6.98%	2.67%	-0.25%	1.34%	-4.45%	5.34%	1.19%	-0.25%	14.01%	-9.18%	2.89%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	2.18%	6.14%	7.53%	13.98%	3.34%	6.52%	7.95%	13.04%	-6.58%	8.76%	8.99%
EBIT Margin	-0.18%	3.49%	4.21%	11.04%	-0.12%	2.75%	4.19%	9.61%	-10.54%	6.09%	6.24%
Profit (Net Income) Margin	0.13%	3.30%	3.25%	8.46%	-0.08%	2.46%	3.36%	7.38%	-7.55%	4.44%	4.83%
Tax Burden Percent	-75.00%	94.63%	77.18%	76.59%	70.59%	89.32%	80.10%	76.78%	71.61%	72.97%	77.43%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	0.00%	5.37%	22.82%	23.41%	0.00%	10.68%	19.90%	23.22%	0.00%	27.03%	22.57%
Return on Invested Capital (ROIC)	-0.14%	3.38%	3.15%	7.96%	-0.08%	2.14%	2.89%	6.29%	-5.92%	3.81%	4.17%
ROIC Less NNEP Spread (ROIC-NNEP)	0.08%	3.38%	3.15%	7.96%	-0.08%	2.14%	2.89%	6.29%	-6.02%	3.81%	4.17%
Return on Net Nonoperating Assets (RNNOA)	0.03%	1.36%	1.27%	3.32%	-0.03%	0.89%	1.20%	2.63%	-2.90%	1.61%	1.85%
Return on Equity (ROE)	-0.11%	4.74%	4.42%	11.29%	-0.11%	3.02%	4.10%	8.91%	-8.81%	5.42%	6.03%
Cash Return on Invested Capital (CROIC)	25.16%	21.02%	15.72%	6.99%	4.47%	1.46%	0.03%	1.29%	-17.87%	-2.51%	-3.82%
Operating Return on Assets (OROA)	-0.09%	1.67%	1.82%	4.48%	-0.05%	1.02%	1.63%	3.62%	-3.87%	2.29%	2.54%
Return on Assets (ROA)	0.07%	1.58%	1.41%	3.43%	-0.03%	0.91%	1.31%	2.78%	-2.77%	1.67%	1.96%
Return on Common Equity (ROCE)	-0.11%	4.72%	4.40%	11.25%	-0.11%	3.01%	4.08%	8.88%	-8.78%	5.41%	6.00%
Return on Equity Simple (ROE_SIMPLE)	10.47%	0.00%	4.48%	5.02%	5.21%	0.00%	4.52%	4.08%	1.85%	0.00%	3.20%
Net Operating Profit after Tax (NOPAT)	-2.24	55	46	136	-1.19	34	47	116	-101	73	75
NOPAT Margin	-0.12%	3.30%	3.25%	8.46%	-0.08%	2.46%	3.36%	7.38%	-7.38%	4.44%	4.83%
Net Nonoperating Expense Percent (NNEP)	-0.22%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.10%	0.00%	0.00%
SG&A Expenses to Revenue	71.91%	69.40%	67.51%	62.69%	70.38%	68.52%	67.09%	63.49%	78.13%	67.00%	66.72%
Operating Expenses to Revenue	100.18%	96.51%	95.79%	88.96%	100.12%	97.25%	95.81%	90.39%	110.54%	93.91%	93.76%
Earnings before Interest and Taxes (EBIT)	-3.20	58	60	178	-1.70	38	58	152	-144	100	97
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	39	102	107	226	48	91	111	206	-90	144	139
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.00	1.08	1.15	1.19	1.24	1.32	1.30	1.16	1.33	1.31	1.34
Price to Tangible Book Value (P/TBV)	1.80	1.89	1.98	2.03	2.19	2.22	2.20	1.95	2.16	2.16	2.18
Price to Revenue (P/Rev)	0.55	0.67	0.79	0.88	0.92	1.09	1.07	0.96	1.18	1.08	1.10
Price to Earnings (P/E)	9.59	19.19	25.99	23.58	23.71	29.61	28.66	28.68	73.19	49.06	42.54
Dividend Yield	4.75%	4.23%	3.89%	3.78%	3.83%	3.38%	3.49%	3.93%	3.23%	3.43%	3.28%
Earnings Yield	10.42%	5.21%	3.85%	4.24%	4.22%	3.38%	3.49%	3.49%	1.37%	2.04%	2.35%
Enterprise Value to Invested Capital (EV/IC)	0.63	0.87	0.80	0.79	0.92	0.69	0.98	0.81	0.83	0.96	0.95
Enterprise Value to Revenue (EV/Rev)	0.50	0.77	0.78	0.83	0.97	0.80	1.16	0.96	1.14	1.14	1.13
Enterprise Value to EBITDA (EV/EBITDA)	5.13	11.32	12.29	11.34	12.28	10.01	14.22	12.19	20.59	18.49	17.43
Enterprise Value to EBIT (EV/EBIT)	6.81	17.79	21.01	18.37	20.16	17.20	24.74	22.51	62.82	41.34	34.08
Enterprise Value to NOPAT (EV/NOPAT)	8.66	21.84	25.17	22.42	25.11	21.90	31.26	28.29	69.44	51.56	43.20
Enterprise Value to Operating Cash Flow (EV/OCF)	4.66	7.45	8.30	7.41	9.23	13.32	13.10	10.81	12.29	7.62	8.95
Enterprise Value to Free Cash Flow (EV/FCFF)	2.26	3.76	4.79	11.15	20.40	47.78	3,754.08	62.87	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.44	0.43	0.40	0.41	0.42	0.40	0.43	0.42	0.53	0.44	0.45
Long-Term Debt to Equity	0.44	0.43	0.40	0.41	0.42	0.40	0.43	0.42	0.53	0.44	0.45
Financial Leverage	0.42	0.40	0.40	0.42	0.43	0.41	0.42	0.42	0.48	0.42	0.44
Leverage Ratio	3.27	3.00	3.14	3.29	3.43	3.33	3.14	3.21	3.24	3.24	3.07
Compound Leverage Factor	3.27	3.00	3.14	3.29	3.43	3.33	3.14	3.21	3.24	3.24	3.07
Debt to Total Capital	30.50%	30.06%	28.42%	29.25%	29.74%	28.59%	30.26%	29.70%	34.78%	30.78%	31.16%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	30.50%	30.06%	28.42%	29.25%	29.74%	28.59%	30.26%	29.70%	34.78%	30.78%	31.16%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.35%	0.35%	0.34%	0.21%	0.23%	0.22%	0.27%	0.28%	0.23%	0.26%	0.30%
Common Equity to Total Capital	69.15%	69.59%	71.24%	70.54%	70.03%	71.19%	69.47%	70.03%	64.98%	68.96%	68.54%
Debt to EBITDA	2.50	3.93	4.34	4.18	3.99	4.13	4.39	4.48	8.60	5.92	5.73
Net Debt to EBITDA	-0.54	1.42	-0.32	-0.68	0.60	-3.64	1.05	-0.14	-0.89	1.05	0.44
Long-Term Debt to EBITDA	2.50	3.93	4.34	4.18	3.99	4.13	4.39	4.48	8.60	5.92	5.73
Debt to NOPAT	4.21	7.58	8.90	8.27	8.15	9.04	9.64	10.40	29.00	16.52	14.20
Net Debt to NOPAT	-0.92	2.73	-0.65	-1.35	1.22	-7.95	2.32	-0.33	-3.01	2.92	1.08
Long-Term Debt to NOPAT	4.21	7.58	8.90	8.27	8.15	9.04	9.64	10.40	29.00	16.52	14.20
Noncontrolling Interest Sharing Ratio	0.38%	0.38%	0.38%	0.32%	0.42%	0.40%	0.43%	0.35%	0.34%	0.34%	0.41%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	1,334	1,330	954	379	53	-82	-168	8.50	-1,473	-235	-358
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	55.59	44.94	32.77	11.04	1.49	-2.47	-4.89	0.24	-40.69	-5.37	-10.16
Operating Cash Flow to Interest Expense	12.61	8.29	-3.17	7.84	6.13	-1.25	2.02	7.53	6.54	7.43	-1.50
Operating Cash Flow Less CapEx to Interest Expense	12.88	8.29	-3.17	7.84	6.13	-1.25	2.02	7.53	6.54	7.44	-1.50
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.50	0.48	0.43	0.41	0.39	0.37	0.39	0.38	0.37	0.38	0.41
Fixed Asset Turnover	7.25	6.34	5.72	5.16	4.75	4.38	4.28	4.17	4.05	4.24	4.33
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	6,519	6,693	6,676	6,766	6,465	6,810	6,891	6,874	7,837	7,117	7,323
Invested Capital Turnover	1.14	1.02	0.97	0.94	0.94	0.87	0.86	0.85	0.80	0.86	0.86
Increase / (Decrease) in Invested Capital	-1,336	-1,276	-908	-242	-54	117	214	108	1,372	307	432
Enterprise Value (EV)	4,087	5,795	5,367	5,366	5,921	4,721	6,757	5,551	6,527	6,837	6,943
Market Capitalization	4,498	5,046	5,484	5,675	5,618	6,420	6,237	5,596	6,792	6,432	6,747
Book Value per Share	$43.28	$44.98	$46.12	$46.24	$43.92	$46.99	$45.99	$46.41	$49.49	$47.65	$48.83
Tangible Book Value per Share	$23.92	$25.75	$26.82	$27.09	$24.88	$27.98	$27.21	$27.65	$30.59	$28.92	$30.04
Total Capital	6,519	6,693	6,676	6,766	6,465	6,810	6,891	6,874	7,837	7,117	7,323
Total Debt	1,988	2,012	1,897	1,979	1,923	1,947	2,085	2,041	2,726	2,190	2,282
Total Long-Term Debt	1,988	2,012	1,897	1,979	1,923	1,947	2,085	2,041	2,726	2,190	2,282
Net Debt	-434	725	-140	-323	288	-1,714	501	-64	-283	387	174
Capital Expenditures (CapEx)	-6.60	0.00	-0.10	0.00	0.00	0.00	0.00	0.00	0.00	-0.60	-0.10
Net Nonoperating Expense (NNE)	-4.64	0.00	0.00	0.00	0.01	0.00	0.00	0.00	2.32	0.00	0.00
Net Nonoperating Obligations (NNO)	1,988	2,012	1,897	1,979	1,923	1,947	2,085	2,041	2,726	2,190	2,282
Total Depreciation and Amortization (D&A)	42	44	47	47	50	53	52	54	54	44	43
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.02	$0.54	$0.44	$1.33	($0.02)	$0.33	$0.45	$1.11	($1.00)	$0.70	$0.72
Adjusted Weighted Average Basic Shares Outstanding	105.30M	107M	104.50M	104.30M	104.20M	104.30M	104.10M	104.10M	103.60M	103.90M	103.80M
Adjusted Diluted Earnings per Share	$0.02	$0.54	$0.44	$1.33	($0.02)	$0.32	$0.45	$1.11	($1.00)	$0.70	$0.71
Adjusted Weighted Average Diluted Shares Outstanding	105.50M	107.30M	104.80M	104.50M	104.20M	104.60M	104.40M	104.30M	103.60M	104.30M	104.20M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	103.54M	103.13M	103.21M	103.09M	103.18M	103.10M	103.72M	102.89M	103.00M	102.80M	102.90M
Normalized Net Operating Profit after Tax (NOPAT)	-2.24	55	46	136	-1.19	34	47	116	-101	73	75
Normalized NOPAT Margin	-0.12%	3.30%	3.25%	8.46%	-0.08%	2.46%	3.36%	7.38%	-7.38%	4.44%	4.83%
Pre Tax Income Margin	-0.18%	3.49%	4.21%	11.04%	-0.12%	2.75%	4.19%	9.61%	-10.54%	6.09%	6.24%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-0.13	1.95	2.05	5.19	-0.05	1.15	1.70	4.28	-3.99	2.29	2.74
NOPAT to Interest Expense	-0.09	1.84	1.58	3.98	-0.03	1.03	1.36	3.29	-2.79	1.67	2.13
EBIT Less CapEx to Interest Expense	0.14	1.95	2.05	5.19	-0.05	1.15	1.70	4.28	-3.99	2.30	2.75
NOPAT Less CapEx to Interest Expense	0.18	1.84	1.58	3.98	-0.03	1.03	1.36	3.29	-2.79	1.68	2.13
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	46.57%	81.98%	101.13%	89.89%	91.56%	100.51%	100.69%	111.52%	233.72%	166.44%	137.83%
Augmented Payout Ratio	137.05%	248.10%	271.44%	153.22%	129.30%	134.25%	121.88%	147.81%	316.70%	218.10%	195.83%

Key Financial Trends

First American Financial (NYSE: FAF) reported mixed results in Q1 2025 compared to previous quarters. Here’s a summary of the key trends from the last four years based on the provided financial data:

Q1 2025 consolidated net income increased to $74.2 million, improving from a net loss in Q3 2024 (-$104 million), showing a recovery in profitability.
Total revenue in Q1 2025 was $1.55 billion, slightly lower than Q4 2024 ($1.64 billion) but relatively stable over recent quarters, reflecting consistent business volume.
Premiums earned remained robust at $1.22 billion in Q1 2025, supporting strong core insurance operations.
Operating expenses have been managed relatively well, with salaries and benefits in Q1 2025 at $1.03 billion, down from $1.10 billion in Q4 2024.
Long-term debt interest expense increased slightly to $35.2 million in Q1 2025 but remains in line with prior quarters, indicating stable financing costs.
Cash and due from banks increased to $2.05 billion in Q1 2025 from $1.5 billion in Q1 2024, signaling stronger liquidity.
Total assets remain high at about $15.5 billion as of Q1 2025, showing the company’s large asset base consistent with prior periods.
Total liabilities increased somewhat to $10.5 billion in Q1 2025, reflecting ongoing operational and financing activities.
Net interest expense remains a drag, with negative net interest income of $35.2 million in Q1 2025, impacting overall earnings.
Significant changes in operating assets and liabilities resulted in a net cash outflow of $206 million in operating activities in Q1 2025, contrasting with positive operating cash flow in prior quarters.

Analysis Summary: First American Financial showed a meaningful rebound in profitability in Q1 2025 after a challenging loss in Q3 2024. Revenues and premiums earned remain stable, and liquidity is strong with increased cash reserves. However, the company faces ongoing pressure from net interest expense and volatile operating cash flow dynamics. Investors should monitor future quarters to see if positive earnings trends continue alongside stable cash flows.

08/29/25 04:09 AM ETAI Generated. May Contain Errors.

Financials Breakdown Chart

Frequently Asked Questions About First American Financial's Financials

When does First American Financial's financial year end?

According to the most recent income statement we have on file, First American Financial's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has First American Financial's net income changed over the last 9 years?

The last 5 years of First American Financial's net income performance:

2020: $700 million
2021: $1.25 billion
2022: $265.30 million
2023: $215.50 million
2024: $132.60 million

Find out what analysts predict for First American Financial in the coming months.

How has First American Financial's revenue changed over the last 9 years?

Over the last 9 years, First American Financial's total revenue changed from $5.18 billion in 2015 to $5.98 billion in 2024, a change of 15.5%.

How much debt does First American Financial have?

First American Financial's total liabilities were at $9.98 billion at the end of 2024, a 16.4% decrease from 2023, and a 82.0% increase since 2015.

How much cash does First American Financial have?

In the past 9 years, First American Financial's cash and equivalents has ranged from $1.01 billion in 2016 to $3.61 billion in 2023, and is currently $1.72 billion as of their latest financial filing in 2024.

How has First American Financial's book value per share changed over the last 9 years?

Over the last 9 years, First American Financial's book value per share changed from 25.29 in 2015 to 47.65 in 2024, a change of 88.4%.

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This page (NYSE:FAF) was last updated on 8/29/2025 by MarketBeat.com Staff

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First American Financial (FAF) Financials

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First American Financial (FAF) Financials

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