First American Financial
FAF NYSE Property & Casualty Insurance Financials FY2016–FY2025
First American Financial's revenue rose 21.6% to $7.5 billion in fiscal 2025. Net income was $622 million, up 374.3%. Its return on equity was 11.9%, up from 2.7% a year earlier. It paid out $345 million in dividends and buybacks. The diluted share count fell 0.6%.
Revenue
Total sales reported in the income statement.
$7.5B
21.6%
vs prior year
Efficiency ratio
Noninterest expense as a share of revenue. Lower is better for banks.
—
Net income
Profit after all expenses, interest and tax.
$622M
374.3%
Return on equity
Net income as a share of average shareholders' equity.
12.0%
9.3 pts
Market cap
Last close times the latest diluted share count, so it is approximate.
$6.7B
Oct 23 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
9.1x
On $7.10 EPS (TTM)
What First American Financial does
No business description yet.
- Legal name
- FIRST AMERICAN FINANCIAL CORPORATION
- Fiscal year ends
- December 31, 2025
- Latest annual report
- —
- Accession · CIK
- 0001193125-26-055516
0001472787
Revenue and margins
First American Financial had $7.5B of revenue in fiscal 2025, up 21.6% on the year before.
FY16
Revenue $5.6B
FY17
Revenue $5.8B
FY18
Revenue $5.7B
FY19
Revenue $6.2B
FY20
Revenue $7.1B
FY21
Revenue $9.2B
FY22
Revenue $7.6B
FY23
Revenue $6.0B
FY24
Revenue $6.1B
FY25
Revenue $7.5B
Q4 '23
Revenue $1.4B
Q1 '24
Revenue $1.4B
Q2 '24
Revenue $1.6B
Q3 '24
Revenue $1.4B
Q4 '24
Revenue $1.7B
Q1 '25
Revenue $1.6B
Q2 '25
Revenue $1.8B
Q3 '25
Revenue $2.0B
Q4 '25
Revenue $2.0B
Q1 '26
Revenue $1.8B
Q2 '26
Revenue $2.1B
Q3 '26
Revenue $2.1B
FY16
Net interest share —
Efficiency ratio —
FY17
Net interest share —
Efficiency ratio —
FY18
Net interest share —
Efficiency ratio —
FY19
Net interest share —
Efficiency ratio —
FY20
Net interest share —
Efficiency ratio —
FY21
Net interest share —
Efficiency ratio —
FY22
Net interest share —
Efficiency ratio —
FY23
Net interest share —
Efficiency ratio —
FY24
Net interest share —
Efficiency ratio —
FY25
Net interest share —
Efficiency ratio —
Net interest share
Efficiency ratio
Net income and earnings per share
From fiscal 2016 to 2025, diluted EPS grew 7.7% a year. Loss periods are shown in red.
FY16
Net income $343M
FY17
Net income $423M
FY18
Net income $475M
FY19
Net income $707M
FY20
Net income $696M
FY21
Net income $1.2B
FY22
Net income $263M
FY23
Net income $217M
FY24
Net income $131M
FY25
Net income $622M
Q4 '23
Net income $34.1M
Q1 '24
Net income $46.7M
Q2 '24
Net income $116M
Q3 '24
Net income −$104M
Q4 '24
Net income $72.4M
Q1 '25
Net income $74.2M
Q2 '25
Net income $146M
Q3 '25
Net income $190M
Q4 '25
Net income $212M
Q1 '26
Net income $125M
Q2 '26
Net income $219M
Q3 '26
Net income $177M
FY16
Diluted EPS $3.09
FY17
Diluted EPS $3.76
FY18
Diluted EPS $4.19
FY19
Diluted EPS $6.22
FY20
Diluted EPS $6.16
FY21
Diluted EPS $11.14
FY22
Diluted EPS $2.45
FY23
Diluted EPS $2.07
FY24
Diluted EPS $1.26
FY25
Diluted EPS $6.00
Q4 '23
Diluted EPS $0.32
Q1 '24
Diluted EPS $0.45
Q2 '24
Diluted EPS $1.11
Q3 '24
Diluted EPS −$1.00
Q4 '24
Diluted EPS $0.70
Q1 '25
Diluted EPS $0.71
Q2 '25
Diluted EPS $1.41
Q3 '25
Diluted EPS $1.84
Q4 '25
Diluted EPS $2.05
Q1 '26
Diluted EPS $1.21
Q2 '26
Diluted EPS $2.12
Q3 '26
Diluted EPS $1.72
Returns and efficiency
For banks, return on equity and the efficiency ratio (costs as a share of revenue) say most about how well the business runs.
FY16
ROE 11.9%
ROTE 18.8%
Efficiency ratio —
FY17
ROE 13.0%
ROTE 20.3%
Efficiency ratio —
FY18
ROE 13.1%
ROTE 20.0%
Efficiency ratio —
FY19
ROE 17.3%
ROTE 25.0%
Efficiency ratio —
FY20
ROE 14.9%
ROTE 21.4%
Efficiency ratio —
FY21
ROE 23.3%
ROTE 34.0%
Efficiency ratio —
FY22
ROE 5.1%
ROTE 7.9%
Efficiency ratio —
FY23
ROE 4.6%
ROTE 7.8%
Efficiency ratio —
FY24
ROE 2.7%
ROTE 4.5%
Efficiency ratio —
FY25
ROE 12.0%
ROTE 19.0%
Efficiency ratio —
ROE
ROTE
Efficiency ratio
Dividends, buybacks and share count
First American Financial returned $345M to shareholders in fiscal 2025. The diluted share count fell 0.6%.
FY16
Dividends $132M
Buybacks $0.5M
FY17
Dividends $159M
Buybacks $0.0M
FY18
Dividends $179M
Buybacks $18.8M
FY19
Dividends $188M
Buybacks $2.0M
FY20
Dividends $199M
Buybacks $139M
FY21
Dividends $213M
Buybacks $99.2M
FY22
Dividends $218M
Buybacks $441M
FY23
Dividends $217M
Buybacks $72.7M
FY24
Dividends $221M
Buybacks $68.5M
FY25
Dividends $223M
Buybacks $122M
Dividends
Buybacks
Q4 '23
Dividends $54.5M
Buybacks $17.7M
Q1 '24
Dividends $54.9M
Buybacks $3.5M
Q2 '24
Dividends $54.7M
Buybacks $40.7M
Q3 '24
Dividends $55.6M
Buybacks $16.1M
Q4 '24
Dividends $55.5M
Buybacks $8.2M
Q1 '25
Dividends $55.7M
Buybacks $28.2M
Q2 '25
Dividends $55.3M
Buybacks $60.5M
Q3 '25
Dividends $56.0M
Buybacks $33.6M
Q4 '25
Dividends $56.0M
Buybacks $0.0M
Q1 '26
Dividends $56.2M
Buybacks $33.5M
Q2 '26
Dividends $56.1M
Buybacks $20.5M
Q3 '26
Dividends $0.0M
Buybacks $1.5M
Dividends
Buybacks
FY16
Diluted shares 0.11B
FY17
Diluted shares 0.11B
FY18
Diluted shares 0.11B
FY19
Diluted shares 0.11B
FY20
Diluted shares 0.11B
FY21
Diluted shares 0.11B
FY22
Diluted shares 0.11B
FY23
Diluted shares 0.10B
FY24
Diluted shares 0.10B
FY25
Diluted shares 0.10B
Value First American Financial yourself
Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.
Earnings multiple
Value per share
—
Reference multiples: today 9.1x · peers 11.9x · sector 13.7x.
Balance sheet
Loans, deposits and capital at each fiscal year end.
FY16
Loans —
Deposits $2.8B
FY17
Loans —
Deposits $3.1B
FY18
Loans —
Deposits $3.8B
FY19
Loans —
Deposits $3.3B
FY20
Loans —
Deposits $3.3B
FY21
Loans —
Deposits $5.1B
FY22
Loans —
Deposits $5.5B
FY23
Loans —
Deposits $7.3B
FY24
Loans —
Deposits $5.0B
FY25
Loans —
Deposits $5.3B
Loans
Deposits
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Deposits | $5.1B | $5.5B | $7.3B | $5.0B | $5.3B |
| Total assets | $16.5B | $15.0B | $16.8B | $14.9B | $16.2B |
| Shareholders' equity | $5.8B | $4.7B | $4.8B | $4.9B | $5.5B |
| Goodwill | $1.6B | $1.8B | $1.8B | $1.8B | $1.8B |
| Intangible assets | $218M | $194M | $154M | $125M | $100M |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$4.1M
1 insider
Sold, 12 months
$1.1M
3 insiders
Of sales under plans
0%
$0.0M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Jul 24, 2026 | Steven A AdamsVP & Chief Accounting Officer | Sold | 3,253 | $74.99 | $0.2M | Form 4 |
| May 5, 2026 | Lisa W CornehlSVP, Chief Legal Officer | Sold | 5,823 | $68.63 | $0.4M | Form 4 |
| Apr 24, 2026 | Margaret M McCarthyDirector | Sold | 6,630 | $70.59 | $0.5M | Form 4 |
| Feb 17, 2026 | Parker S KennedyDirector | Bought | 44,841 | $67.85 | $3.0M | Form 4 |
| Feb 13, 2026 | Parker S KennedyDirector | Bought | 15,000 | $67.17 | $1.0M | Form 4 |
Similar companies
Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score | |
|---|---|---|---|---|---|---|---|---|
| First American Financial FAF | $6.7B | 21.6% | — | — | — | 9.1x | — | |
| KeyCorp KEY | $23.4B | 62.7% | — | — | — | 12.3x | — | Compare → |
| Regions Financial RF | $25.5B | 6.3% | — | — | — | 11.6x | — | Compare → |
| Ally Financial ALLY | $12.2B | −3.3% | — | — | — | 9.2x | — | Compare → |
| Northern Trust NTRS | $32.3B | −2.5% | — | — | — | — | — | Compare → |
10 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $5.6B | $5.8B | $5.7B | $6.2B | $7.1B | $9.2B | $7.6B | $6.0B | $6.1B | $7.5B |
| Pretax income | $478M | $445M | $610M | $905M | $923M | $1.6B | $326M | $274M | $165M | $826M |
| Income tax | $134M | $23.5M | $134M | $195M | $223M | $392M | $60.4M | $58.9M | $32.8M | $201M |
| Net income | $343M | $423M | $475M | $707M | $696M | $1.2B | $263M | $217M | $131M | $622M |
| Net income to common | $343M | $423M | $475M | $707M | $696M | $1.2B | $263M | $217M | $131M | $622M |
| Diluted EPS | $3.09 | $3.76 | $4.19 | $6.22 | $6.16 | $11.14 | $2.45 | $2.07 | $1.26 | $6.00 |
| Diluted shares | 0.11B | 0.11B | 0.11B | 0.11B | 0.11B | 0.11B | 0.11B | 0.10B | 0.10B | 0.10B |
| Cash flow | ||||||||||
| Stock-based compensation | $34.1M | $37.4M | $41.1M | $42.0M | $52.0M | $53.6M | $67.3M | $49.1M | $52.0M | $68.4M |
| Share buybacks | $0.5M | $0.0M | $18.8M | $2.0M | $139M | $99.2M | $441M | $72.7M | $68.5M | $122M |
| Dividends paid | $132M | $159M | $179M | $188M | $199M | $213M | $218M | $217M | $221M | $223M |
| Dividends and buybacks | $132M | $159M | $197M | $190M | $338M | $312M | $658M | $289M | $289M | $345M |
| Balance sheet | ||||||||||
| Deposits | $2.8B | $3.1B | $3.8B | $3.3B | $3.3B | $5.1B | $5.5B | $7.3B | $5.0B | $5.3B |
| Goodwill | $1.0B | $1.1B | $1.1B | $1.2B | $1.4B | $1.6B | $1.8B | $1.8B | $1.8B | $1.8B |
| Intangible assets | $78.9M | $99.9M | $109M | $91.8M | $194M | $218M | $194M | $154M | $125M | $100M |
| Total assets | $8.8B | $9.6B | $10.6B | $11.5B | $12.8B | $16.5B | $15.0B | $16.8B | $14.9B | $16.2B |
| Preferred stock | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Shareholders' equity | $3.0B | $3.5B | $3.7B | $4.4B | $4.9B | $5.8B | $4.7B | $4.8B | $4.9B | $5.5B |
| Margins | ||||||||||
| Net margin | 6.2% | 7.3% | 8.3% | 11.4% | 9.8% | 13.5% | 3.5% | 3.6% | 2.1% | 8.3% |
| Returns | ||||||||||
| Return on equity | 11.9% | 13.0% | 13.1% | 17.3% | 14.9% | 23.3% | 5.1% | 4.6% | 2.7% | 12.0% |
| Return on assets | 4.0% | 4.6% | 4.7% | 6.4% | 5.7% | 8.5% | 1.7% | 1.4% | 0.8% | 4.0% |
| Return on tangible equity | 18.8% | 20.3% | 20.0% | 25.0% | 21.4% | 34.0% | 7.9% | 7.8% | 4.5% | 19.0% |
| Growth | ||||||||||
| Revenue growth | 7.7% | 3.5% | −0.4% | 7.9% | 14.3% | 30.1% | −17.5% | −21.1% | 2.1% | 21.6% |
| Net income growth | 19.1% | 23.3% | 12.2% | 49.0% | −1.6% | 78.3% | −78.8% | −17.6% | −39.5% | 374.3% |
| EPS growth | 17.9% | 21.7% | 11.4% | 48.5% | −1.0% | 80.8% | −78.0% | −15.5% | −39.1% | 376.2% |
| Share count change | 1.2% | 1.2% | 0.8% | 0.4% | −0.6% | −1.4% | −3.7% | −2.5% | −0.3% | −0.6% |
| Capital allocation | ||||||||||
| Stock comp / revenue | 0.6% | 0.7% | 0.7% | 0.7% | 0.7% | 0.6% | 0.9% | 0.8% | 0.9% | 0.9% |
Source: SEC EDGAR XBRL filings (CIK 0001472787). Data updated October 23, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.