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FAF

First American Financial Corporation

FAF

First American Financial Corporation • NYSE
$65.76 ▼ -0.42% (-0.28)
Market Cap $6.70 B
52w High $70.68
52w Low $53.09
Dividend Yield 2.17%
P/E 14.14
Volume 136.37K
Outstanding Shares 101.90M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.979B ▲ $1.001B ▲ $189.6M ▲ 9.581% ▲ $1.84 ▲ $341.7M ▲
Q2-2025 $1.841B ▲ $990.7M ▲ $146.1M ▲ 7.935% ▲ $1.41 ▲ $286.2M ▲
Q1-2025 $1.582B ▼ $890.1M ▼ $74.2M ▲ 4.689% ▲ $0.71 ▲ $184.3M ▼
Q4-2024 $1.678B ▲ $940.7M ▲ $72.4M ▲ 4.315% ▲ $0.7 ▲ $195.6M ▲
Q3-2024 $1.406B $912M $-104M -7.396% $-1 $-55M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $2.991B ▲ $17.61B ▲ $12.285B ▲ $5.301B ▲
Q2-2025 $2.031B ▼ $16.274B ▲ $11.125B ▲ $5.126B ▲
Q1-2025 $2.108B ▲ $15.497B ▲ $10.457B ▲ $5.019B ▲
Q4-2024 $1.804B ▼ $14.909B ▼ $9.982B ▼ $4.909B ▼
Q3-2024 $3.009B $16.566B $11.456B $5.092B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $189.9M ▲ $272.5M ▼ $-353.7M ▲ $964.9M ▲ $880.3M ▲ $223.1M ▼
Q2-2025 $147.1M ▲ $361.8M ▲ $-723.2M ▼ $335.5M ▼ $-13.9M ▼ $309.4M ▲
Q1-2025 $74.8M ▲ $-52.8M ▼ $-234.5M ▼ $612.3M ▲ $327M ▲ $-94.5M ▼
Q4-2024 $72.9M ▲ $324.6M ▲ $-33.1M ▲ $-1.509B ▼ $-1.235B ▼ $266.2M ▲
Q3-2024 $-104M $236.9M $-299.1M $961.1M $904.8M $185.4M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Corporate And Eliminations
Corporate And Eliminations
 $0 ▲$0 ▲$10.00M ▲$30.00M ▲
Corporate Segment
Corporate Segment
 $0 ▲$-10.00M ▼$10.00M ▲$30.00M ▲
Title Insurance And Services
Title Insurance And Services
 $1.61Bn ▲$1.48Bn ▼$1.72Bn ▲$1.84Bn ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has trended down from the real-estate boom peak a few years ago, reflecting a cooler housing and refinancing market. Profitability has compressed meaningfully from those peak years, with earnings now at a much more modest level, but the business remains consistently profitable. Operating and EBITDA margins are still positive, though not as strong as during the surge in transaction volumes. Overall, the income statement shows a cyclical, transaction-driven business that is past its recent high point but still generating steady, if lower, earnings.

Balance Sheet

Balance Sheet The balance sheet looks solid and conservative for a financial services company. Total assets grew through the peak period and have since eased back, which is consistent with a normalization in activity. Debt has increased compared with several years ago but appears reasonable relative to the company’s equity base, suggesting manageable leverage. Cash balances move around from year to year but remain healthy enough to provide flexibility. Equity has been fairly stable, which points to a generally resilient capital position despite earnings volatility.

Cash Flow

Cash Flow Cash generation is a relative bright spot. Operating cash flow has remained positive every year, even as the housing market cooled, and free cash flow has also stayed in positive territory after funding modest capital spending. Capital expenditures are small and steady, indicating that the business is not overly capital intensive. Overall, the cash flow profile suggests that First American can fund its operations and investment needs internally, with a buffer to handle market cycles.

Competitive Edge

Competitive Edge First American holds a leading position in title insurance and settlement services, supported by a long-standing brand, deep industry relationships, and a nationwide network of offices and agents. Its extensive property and ownership data, built up over many decades, forms a key barrier to entry and strengthens its underwriting and risk assessment. At the same time, the company faces vigorous competition from other large title insurers and evolving digital players, and its fortunes are closely tied to the health of the real estate market. Its scale and data assets, however, give it a clear edge in competing on both cost and service quality.

Innovation and R&D

Innovation and R&D The company is leaning heavily into digital innovation, focusing on making real estate transactions faster, more transparent, and more automated. Platforms like Endpoint, IgniteRE, and ClarityFirst aim to digitize both residential and commercial closings, while its large proprietary data sets feed AI and machine learning tools that streamline title searches and improve risk assessment. A portfolio of patents and targeted acquisitions, such as Docutech, reinforce this push. The main watchpoint is execution: continued user adoption, integration of platforms, and staying ahead of both traditional rivals and fintech entrants will determine how much of this innovation translates into durable economic advantage.

Summary

First American is a cyclical financial services business tied closely to real estate activity, with earnings that have come down from recent highs but remain positive. Its balance sheet and cash flow look prudent and supportive of stability through the cycle. The company’s real strength lies in its entrenched competitive position and rich data assets, which underpin a credible digital strategy built around automation and end-to-end transaction platforms. The key uncertainties are the pace of real estate market recovery and the company’s ability to sustain and monetize its technology edge in a competitive, rapidly evolving environment.

NEWS

November 18, 2025 · 9:00 AM UTC

First American Named to the 2025 Fortune Best Workplaces for Parents™ List

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November 11, 2025 · 9:00 AM UTC

First American Named a 2026 Military Friendly® Employer

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November 6, 2025 · 9:00 AM UTC

First American Mortgage Solutions Launches equiRisk™, Expanding its equiSolutions™ Product Suite for Home Equity Lending

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November 4, 2025 · 4:55 PM UTC

First American Financial Corporation Appoints Jeffrey (Jeff) J. Dailey to Board of Directors

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November 4, 2025 · 4:15 PM UTC

First American Financial Corporation Declares Quarterly Cash Dividend of 55 Cents Per Share

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