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First American Financial (FAF) Financials

First American Financial logo
$62.72 +0.18 (+0.29%)
Closing price 03:59 PM Eastern
Extended Trading
$62.81 +0.09 (+0.14%)
As of 06:27 PM Eastern
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Annual Income Statements for First American Financial

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

Quarterly Income Statements for First American Financial

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

Annual Cash Flow Statements for First American Financial

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

Quarterly Cash Flow Statements for First American Financial

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

Annual Balance Sheets for First American Financial

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

Quarterly Balance Sheets for First American Financial

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

Annual Metrics And Ratios for First American Financial

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%

Quarterly Metrics And Ratios for First American Financial

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) has demonstrated mixed financial performance over the last four years, with improvement seen into early 2025 after a challenging 2023. Here's a breakdown of key trends and highlights based on its quarterly financial statements:

  • Increasing Revenue Streams: Total revenue has shown some growth from about $1.39 billion in Q1 2023 to $1.55 billion in Q1 2025. Premiums earned and other service charges have generally increased, supporting overall revenue growth.
  • Net Income Turnaround: After negative net income in Q3 2024 (-$104 million), the company returned to positive net income in Q4 2024 ($72 million) and improved further in Q1 2025 ($74 million), indicating a significant recovery.
  • Stable Dividend Payments: Despite fluctuations in earnings, FAF has maintained consistent quarterly dividends around $0.52-$0.54 per share, reflecting shareholder return commitment.
  • Strong Capital Base: Total common equity has remained robust, close to $5 billion in recent quarters, supporting the company’s financial stability.
  • Effective Debt Management: The company’s long-term debt interest expense increased slightly but remains manageable relative to earnings, with proactive debt issuance and repayments reflected in cash flow statements.
  • Net Interest Expense: FAF consistently reports net interest expense rather than net interest income due to interest on long-term debt; this expense increased from $29 million in early 2023 to $35 million by Q1 2025, but remains a relatively small portion of total expenses.
  • Cash Flow Volatility: Cash from operating activities has been variable, negative in Q1 2025 (-$53 million) but mostly positive over recent years, influenced in part by fluctuations in operating assets and liabilities.
  • Investment Activities: The company frequently buys and sells investment securities in large volumes (roughly $6-8 billion per quarter), resulting in fluctuations in net cash used in investing activities.
  • Accumulated Other Comprehensive Income (AOCI): The company carries negative AOCI balances ranging from approximately -$1 billion in 2022 to -$400 million in early 2025, indicating unrealized losses or other adjustments.
  • Share Count Stability: Weighted average diluted shares outstanding have remained relatively flat around 103-105 million shares over the period, showing limited dilution.
  • Significant Losses in 2023 and Mid-2024: FAF experienced a notable loss in Q3 2024 (-$104 million) and Q3 2023 (-$1.7 million), primarily due to realized and unrealized capital losses and higher claims and operating expenses, impacting profitability.
  • Rising Non-Interest Expenses: Total non-interest expenses increased over the years, reaching $1.45 billion in Q1 2025 from about $1.36 billion in Q1 2023, driven by salaries, claims, and operating expenses.
  • Declining Cash Reserves: Cash and due from banks declined from around $2.98 billion in Q3 2024 to $2.04 billion in Q1 2025, partly due to investments and operating cash flow usage.
  • Insurance Claims Increase: Property & liability insurance claims fluctuated but showed an upward trend, reaching $87.5 million in Q1 2025 from $83.4 million in Q1 2024, putting pressure on expenses.
  • Capital Gains Volatility: Net realized and unrealized capital gains on investments have been volatile, with large gains in early 2024 but negative amounts in some quarters of 2023 and a smaller gain in Q1 2025, affecting earnings stability.

Summary: First American Financial has rebounded from losses in 2023 and mid-2024, showing signs of recovery with improved net income and steady dividends in early 2025. While revenue growth and a solid equity base are positive signs, the company continues to face challenges from volatile investment gains, rising claims, and consistent operating expenses. Cash flow and liquidity management remain areas to monitor given recent quarterly fluctuations. Investors should weigh these factors and watch upcoming quarterly releases for continued progress.

08/08/25 07:44 PMAI Generated. May Contain Errors.

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 8/8/2025 by MarketBeat.com Staff
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