First American (FAF) financial statements
First American reported revenue of $7.5B in fiscal 2025, up 3.3% a year over 9 years.
Net income was $622M and the operating margin 11.1%, against 8.6% in 2016.
Free cash flow was $762M, and the company returned $223M in dividends and $122M in net buybacks.
The diluted share count fell 7% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from First American's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.6B | $5.8B | $5.7B | $6.2B | $7.1B | $9.2B | $7.6B | $6.0B | $6.1B | $7.5B |
| Operating income | $478M | $445M | $610M | $905M | $923M | $1.6B | $326M | $274M | $165M | $826M |
| Interest expense | $32M | $36M | $41M | $48M | $57M | $72M | $93M | $132M | $150M | $157M |
| Pre-tax income | $478M | $445M | $610M | $905M | $923M | $1.6B | $326M | $274M | $165M | $826M |
| Income tax | $134M | $23M | $134M | $195M | $223M | $392M | $60M | $59M | $33M | $201M |
| Net income | $343M | $423M | $474M | $707M | $696M | $1.2B | $263M | $217M | $131M | $622M |
| EPS (diluted) | $3.09 | $3.76 | $4.19 | $6.22 | $6.16 | $11.14 | $2.45 | $2.07 | $1.26 | $6.00 |
| Diluted shares | 111M | 112M | 113M | 114M | 113M | 111M | 107M | 105M | 104M | 104M |
| Operating margin | 8.6% | 7.7% | 10.6% | 14.6% | 13.0% | 17.8% | 4.3% | 4.6% | 2.7% | 11.1% |
| Net margin | 6.2% | 7.3% | 8.3% | 11.4% | 9.8% | 13.5% | 3.5% | 3.6% | 2.1% | 8.3% |
Balance sheet
Fiscal years, from First American's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $1.0B | $1.4B | $1.5B | $1.5B | $1.3B | $1.2B | $1.2B | $3.6B | $1.7B | $1.4B |
| Property, plant and equipment | $434M | $440M | $458M | $442M | $445M | $506M | $637M | $750M | $745M | $682M |
| Goodwill | $1.0B | $1.1B | $1.1B | $1.2B | $1.4B | $1.6B | $1.8B | $1.8B | $1.8B | $1.8B |
| Total assets | $8.8B | $9.6B | $10.6B | $11.5B | $12.8B | $16.5B | $15.0B | $16.8B | $14.9B | $16.2B |
| Total liabilities | $5.8B | $6.1B | $6.9B | $7.1B | $7.9B | $10.7B | $10.3B | $11.9B | $10.0B | $10.7B |
| Shareholders' equity | $3.0B | $3.5B | $3.7B | $4.4B | $4.9B | $5.8B | $4.7B | $4.8B | $4.9B | $5.5B |
| Net debt | -$1.0B | -$1.4B | -$1.5B | -$1.5B | -$1.3B | -$1.2B | -$1.2B | -$3.6B | -$1.7B | -$1.4B |
Cash flow
Fiscal years, from First American's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $489M | $632M | $793M | $913M | $1.1B | $1.2B | $778M | $354M | $898M | $951M |
| Capital spending | $132M | $134M | $118M | $107M | $114M | $160M | $260M | $263M | $218M | $188M |
| Free cash flow | $357M | $498M | $675M | $806M | $971M | $1.1B | $518M | $91M | $679M | $762M |
| Stock-based compensation | $34M | $37M | $41M | $42M | $52M | $54M | $67M | $49M | $52M | $68M |
| Dividends paid | $132M | $159M | $178M | $188M | $199M | $213M | $218M | $217M | $221M | $223M |
| Share buybacks (net) | -$454,000 | $0 | -$19M | -$2M | -$139M | -$99M | -$441M | -$73M | -$68M | -$122M |
| Net borrowing | -$5M | -$6M | -$5M | -$6M | -$6M | -$6M | -$7M | -$6M | -$4M | -$4M |
| Free cash flow margin | 6.4% | 8.6% | 11.7% | 13.0% | 13.7% | 11.5% | 6.8% | 1.5% | 11.1% | 10.2% |
| Dividends per share | $1.18 | $1.42 | $1.58 | $1.65 | $1.76 | $1.91 | $2.03 | $2.07 | $2.12 | $2.15 |
Questions
What was First American's revenue in 2025?
$7.5B in fiscal 2025, from its 10-K filing.
How much free cash flow does First American generate?
$762M in fiscal 2025 (operating cash flow minus capital spending).
From First American's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.