First American Financial Corp FAF
First American Financial Corporation traces its heritage back to 1889. On June 1, 2010, its common stock was listed on the New York Stock Exchange under the ticker symbol "FAF." First American's executive offices are located at 1 First American Way, Santa Ana, California 92707-5913 and its telephone number is (714) 250-3000.
Unless otherwise indicated or otherwise required by the context, the terms "we," "our," "it," "its," "Company" and "First American" refer to First American Financial Corporation and its subsidiaries.
The Company, through its subsidiaries, is engaged in the business of providing title insurance, settlement services and other financial services and risk solutions through its title insurance and services segment and its home warranty segment. The title insurance and services segment provides title insurance, closing and/or escrow services and similar or related services domestically and internationally in connection with residential and commercial real estate transactions. The segment also provides products, services and solutions that are designed to mitigate risk in, or otherwise facilitate, real estate transactions. Many of these products, services and solutions involve the use of real property-related data, including data derived from the Company's proprietary databases. In addition, the segment provides banking, trust, warehouse lending, mortgage subservicing and wealth management services. The home warranty segment sells home warranty products. Our corporate segment consists of certain financing facilities, our venture investment portfolio, operating results related to our property and casualty insurance business, which no longer sells policies or has policies in force, and certain corporate services that support our business operations. The substantial majority of our business is dependent upon activity in the real estate and mortgage markets.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.45B | $6.13B | $6.00B | $7.61B | $9.22B | $7.09B | $6.20B | $5.75B | $5.77B | $5.58B |
| Total operating expenses | $6.63B | $5.96B | $5.73B | $7.28B | $7.58B | $6.16B | $5.30B | $5.14B | $5.33B | $5.10B |
| Interest expense | $157.0M | $149.6M | $132.5M | $93.0M | $72.4M | $57.0M | $48.0M | $41.0M | $36.0M | $32.2M |
| Pre-tax income | $826.2M | $165.4M | $274.4M | $325.7M | $1.64B | $923.0M | $905.0M | $609.5M | $445.3M | $477.6M |
| Income tax | $201.0M | $32.8M | $58.9M | $60.4M | $392.2M | $223.0M | $195.0M | $133.6M | $23.5M | $134.1M |
| Net income | $621.8M | $131.1M | $216.8M | $263.0M | $1.24B | $696.0M | $707.0M | $474.5M | $423.0M | $343.0M |
| EPS, basic | 6.02 | 1.26 | 2.08 | 2.46 | 11.18 | 6.18 | 6.26 | 4.21 | 3.79 | 3.10 |
| EPS, diluted | 6.00 | 1.26 | 2.07 | 2.45 | 11.14 | 6.16 | 6.22 | 4.19 | 3.76 | 3.09 |
| Shares, diluted (wtd. avg.) | $103.7M | $104.3M | $104.6M | $107.3M | $111.4M | $113.0M | $113.7M | $113.3M | $112.4M | $111.2M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $1.39B | $1.72B | $3.61B | $1.22B | $1.23B | $1.28B | $1.49B | $1.47B | $1.39B | $1.01B |
| Property, plant and equipment | $682.3M | $745.1M | $749.6M | $636.9M | $506.0M | $445.0M | $442.0M | $457.8M | $439.6M | $434.1M |
| Goodwill | $1.82B | $1.80B | $1.81B | $1.80B | $1.59B | $1.38B | $1.15B | $1.14B | $1.11B | $1.02B |
| Other intangibles | $100.0M | $125.2M | $153.8M | $193.8M | $218.0M | $194.0M | $91.8M | $109.4M | $99.9M | $78.9M |
| Total assets | $16.23B | $14.91B | $16.80B | $14.96B | $16.45B | $12.80B | $11.52B | $10.63B | $9.57B | $8.83B |
| Total liabilities | $10.70B | $9.98B | $11.94B | $10.27B | $10.67B | $7.87B | $7.09B | $6.89B | $6.09B | $5.82B |
| Retained earnings | $4.01B | $3.62B | $3.71B | $3.71B | $3.68B | $2.65B | $2.16B | $1.64B | $1.31B | $1.05B |
| Total equity | $5.50B | $4.91B | $4.86B | $4.68B | $5.78B | $4.91B | $4.42B | $3.75B | $3.48B | $3.01B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $950.8M | $897.5M | $354.3M | $777.6M | $1.22B | $1.08B | $913.0M | $793.2M | $632.1M | $489.4M |
| Stock-based compensation | $68.4M | $52.0M | $49.1M | $67.3M | $53.6M | $52.0M | $42.0M | $41.1M | $37.4M | $34.1M |
| Capital expenditure | $188.3M | $218.3M | $263.4M | $259.8M | $160.5M | $114.0M | $107.0M | $118.2M | $134.2M | $132.3M |
| Investing cash flow | -$1.46B | -$458.7M | $599.5M | -$393.0M | -$3.39B | -$1.42B | -$452.0M | -$1.22B | -$387.2M | -$610.1M |
| Financing cash flow | $161.2M | -$2.31B | $1.42B | -$376.4M | $2.13B | $113.0M | -$445.0M | $514.7M | $128.0M | $106.8M |
| Dividends paid | $223.0M | $220.7M | $216.6M | $217.5M | $213.0M | $199.0M | $188.0M | $178.5M | $159.3M | $131.5M |
| Buybacks | $122.3M | $68.5M | $72.7M | $440.7M | $99.2M | $139.0M | $2.0M | $18.8M | $0 | $454.0K |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-055516.
Others in SIC 6361
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| FNF | Fidelity National Financial, Inc. | $12.28B | 20.7x | 9.1% |
| STC | STEWART INFORMATION SERVICES CORP | $2.06B | 16.7x | 17.3% |
| ITIC | INVESTORS TITLE CO | $562.6M | 16.0x | 16.4% |