FAF

MKT CAP:$7B

First American Financial Corporation

Market Cap

$7B

Financial Services·Insurance - Specialty·🇺🇸 United States·NYSE

Financials·Insurance·🇺🇸·NYSE

Stock Price

$70.87+$9.79 (+16.03%)

Apr 24, 2026

Company Details

First American Financial Corporation, through its subsidiaries, provides financial services. It operates through Title Insurance and Services, and Specialty Insurance segments. The Title Insurance and Services segment issues title insurance...

CEO

Mark Edward Seaton

IPO Date

May 28, 2010

Website

www.firstam.com

Key Metrics TTM

Revenue

$7.7B

+22.8% YoY

Net Income

$673M

EPS (Diluted)

$6.50

Free Cash Flow

$763M

Revenue / Share

$74.62

Gross Margin

57.1%

Operating Margin

9.5%

Net Margin

8.7%

FCF Margin

9.9%

P/S

0.9x

P/E

10.7x

Earnings Reports

Q1 2026

Apr 22, 2026

NEW

$1.8B+16.2%EPS $1.21

FY 2025

Feb 17, 2026

$7.4BEPS $6.00

Q4 2025

Feb 17, 2026

$2.0B+22.2%EPS $2.05

Q3 2025

Oct 23, 2025

$2.0B+40.7%EPS $1.83

Q2 2025

Jul 24, 2025

$1.8B+14.2%EPS $1.41

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 21	$2.0B	$1.2B	$306M
Q2 21	$2.3B	$1.4B	$399M
Q4 21	$2.4B	$1.4B	$333M
Q1 22	$2.0B	$1.2B	$130M
Q4 22	$1.7B	$969M	$58M
Q1 23	$1.4B	$895M	$60M
Q4 23	$1.4B	$895M	$38M
Q1 24	$1.4B	$907M	$93M
Q2 24	$1.6B	$1.0B	$152M
Q3 24	$1.4B	$768M	-$144M
Q4 24	$1.7B	$1.0B	$100M
Q1 25	$1.6B	$987M	$97M
Q2 25	$1.8B	$1.2B	$195M
Q3 25	$2.0B	$1.2B	$247M
Q4 25	$2.0B	$2.0B	$287M
Q1 26	$1.8B	$0	$0

Valuation

Quarter	P/S	P/E
Q1 21	0.8x	7.3x
Q2 21	0.8x	6.9x
Q4 21	1.0x	8.0x
Q1 22	0.9x	8.3x
Q4 22	0.7x	8.3x
Q1 23	0.8x	12.7x
Q4 23	1.0x	27.9x
Q1 24	1.0x	34.4x
Q2 24	0.9x	22.8x
Q3 24	1.2x	73.9x
Q4 24	1.1x	49.2x
Q1 25	1.1x	43.0x
Q2 25	1.0x	33.8x
Q3 25	0.9x	13.7x
Q4 25	0.9x	10.3x
Q1 26	0.8x	9.1x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 20	$404M	$381M
Q1 21	$224M	$195M
Q2 21	$253M	$214M
Q4 21	$344M	$294M
Q1 22	$40M	-$3M
Q4 22	$247M	$176M
Q1 23	-$92M	-$155M
Q4 23	-$42M	-$100M
Q1 24	$69M	$18M
Q2 24	$267M	$210M
Q3 24	$237M	$185M
Q4 24	$325M	$266M
Q1 25	-$53M	-$95M
Q2 25	$362M	$309M
Q3 25	$273M	$223M
Q4 25	$369M	$325M

Capital Expenditures

Quarter	CapEx
Q4 20	$22M
Q1 21	$29M
Q2 21	$39M
Q4 21	$50M
Q1 22	$43M
Q4 22	$71M
Q1 23	$63M
Q4 23	$58M
Q1 24	$52M
Q2 24	$57M
Q3 24	$52M
Q4 24	$58M
Q1 25	$42M
Q2 25	$52M
Q3 25	$49M
Q4 25	$45M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 21	+17.4%	+19.7%
Q2 21	+40.9%	+35.0%
Q4 21	+23.6%	+21.7%
Q1 22	-5.2%	+8.0%
Q4 22	-17.4%	-6.0%
Q1 23	-36.2%	-25.7%
Q4 23	-39.8%	-31.8%
Q1 24	-30.0%	-30.0%
Q2 24	-3.7%	-9.6%
Q3 24	-2.8%	+11.8%
Q4 24	+17.8%	+13.9%
Q1 25	+11.1%	+11.5%
Q2 25	+14.2%	+12.7%
Q3 25	+40.7%	+11.7%
Q4 25	+22.2%	+11.7%
Q1 26	+16.2%	+23.7%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 20	$7M	0.3%
Q1 21	$31M	1.5%
Q2 21	$9M	0.4%
Q4 21	$7M	0.3%
Q1 22	$43M	2.1%
Q4 22	$7M	0.4%
Q1 23	$23M	1.6%
Q4 23	$8M	0.6%
Q1 24	$23M	1.6%
Q2 24	$9M	0.6%
Q3 24	$10M	0.7%
Q4 24	$10M	0.6%
Q1 25	$31M	1.9%
Q2 25	$17M	0.9%
Q3 25	$12M	0.6%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A
Q1 21	$535M
Q2 21	$588M
Q4 21	$642M
Q1 22	$602M
Q4 22	$550M
Q1 23	$488M
Q4 23	$501M
Q1 24	$485M
Q2 24	$509M
Q3 24	$524M
Q4 24	$542M
Q1 25	$507M
Q2 25	$571M
Q3 25	$575M

Revenue Segments

Quarter	Specialty Insurance Segment	Title Insurance And Services	Corporate	Corporate And Eliminations	Corporate Segment
Q1 21	$136M	$1.9B	—	—	—
Q2 21	$152M	$2.1B	—	—	—
Q4 21	$121M	$2.3B	—	—	—
Q1 22	$115M	$2.0B	-$79M	—	—
Q4 22	$113M	$1.6B	—	-$42M	—
Q4 23	—	$1.3B	—	$148M	—
Q4 24	—	$1.6B	—	—	—
Q3 25	—	$1.8B	—	$28M	$28M

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$1.8B	$0	$1.8B
Q3 22	$2.4B	$0	$2.4B
Q4 22	$1.3B	$0	$1.3B
Q1 23	$2.0B	$0	$2.0B
Q2 23	$2.3B	$0	$2.3B
Q3 23	$1.6B	$0	$1.6B
Q4 23	$3.7B	$0	$3.7B
Q1 24	$1.5B	$94M	$1.6B
Q2 24	$2.0B	$111M	$2.2B
Q3 24	$3.0B	$0	$3.0B
Q4 24	$1.8B	$0	$1.8B
Q1 25	$2.1B	$0	$2.1B
Q2 25	$2.0B	$0	$2.0B
Q3 25	$3.0B	$0	$3.0B
Q4 25	$1.4B	$0	$1.4B
Q1 26	$2.4B	$0	$2.4B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 21	111M	-1.0%	-2.3%
Q2 21	111M	-0.2%	-1.2%
Q4 21	111M	+0.2%	-1.3%
Q1 22	111M	-0.5%	-1.5%
Q4 22	105M	-5.3%	-5.8%
Q1 23	105M	-0.1%	-5.8%
Q4 23	104M	-0.4%	-6.3%
Q1 24	104M	0.0%	-5.8%
Q2 24	104M	-0.1%	-0.6%
Q3 24	104M	-0.7%	-1.1%
Q4 24	104M	+0.6%	-0.2%
Q1 25	104M	0.0%	-0.2%
Q2 25	104M	-0.2%	-0.3%
Q3 25	104M	-0.2%	+0.2%
Q4 25	103M	-0.6%	-1.0%
Q1 26	103M	+0.1%	-0.9%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 21	$103.4K	20K
Q2 21	$115.6K	20K
Q4 21	$106.4K	22K
Q1 22	$91.5K	22K
Q4 22	$79.1K	21K
Q1 23	$68.4K	21K
Q4 23	$74.1K	19K
Q1 24	$74.2K	19K
Q2 24	$83.9K	19K
Q3 24	$73.2K	19K
Q4 24	$88.1K	19K
Q1 25	$83.1K	19K
Q2 25	$96.7K	19K
Q3 25	$103.9K	19K
Q4 25	$107.3K	19K
Q1 26	$96.2K	19K

Revenue / Employee