First American Financial Corporation (FAF) Income Statement Analysis

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Complete financial analysis of First American Financial Corporation (FAF) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of First American Financial Corporation, a leading company in the Insurance – Specialty industry within the Financial Services sector.

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First American Financial Corporation (FAF)

Industry: Insurance - Specialty

Sector: Financial Services

Website: https://www.firstam.com

About First American Financial Corporation

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 policies on residential and commercial property, as well as offers related products and services. This segment also provides closing and/or escrow services; products, services, and solutions to mitigate risk or otherwise facilitate real estate transactions; and appraisals and other valuation-related products and services, lien release and document custodial services, warehouse lending services, default-related products and services, mortgage subservicing, and related products and services, as well as banking, trust, and wealth management services. In addition, it accommodates tax-deferred exchanges of real estate; and maintains, manages, and provides access to title plant data and records. This segment offers its products through a network of direct operations and agents in 49 states and in the District of Columbia, as well as in Canada, the United Kingdom, Australia, South Korea, and internationally. The Specialty Insurance segment provides property and casualty insurance comprising coverage to residential homeowners and renters for liability losses and typical hazards, such as fire, theft, vandalism, and other types of property damage. It also offers residential service contracts that cover residential systems, such as heating and air conditioning systems, and appliances against failures that occur as the result of normal usage during the coverage period. First American Financial Corporation was founded in 1889 and is headquartered in Santa Ana, California.

Metric	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
Revenue	938.50M	7.61B	9.22B	7.09B	6.20B	5.75B	5.77B	5.58B	5.18B	4.68B	4.96B	4.54B	3.82B	3.91B	4.05B	4.37B	6.08B
Cost of Revenue	1.07B	2.34B	0.00	1.12B	923.30M	900.21M	880.87M	853.84M	820.97M	833.68M	836.32M	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	-128.50M	5.27B	9.22B	5.97B	5.28B	4.85B	4.89B	4.72B	4.35B	3.84B	4.12B	4.54B	3.82B	3.91B	4.05B	4.37B	6.08B
Gross Profit Ratio	-13.69%	69.23%	100.00%	84.21%	85.11%	84.34%	84.74%	84.69%	84.14%	82.18%	83.13%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
General & Administrative	1.99B	2.34B	2.35B	1.94B	1.81B	1.75B	1.90B	1.76B	1.59B	1.41B	1.45B	1.33B	1.19B	1.22B	1.22B	1.39B	1.82B
Selling & Marketing	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.20B	1.22B	1.24B	1.37B	2.11B
SG&A	1.99B	2.34B	2.35B	1.94B	1.81B	1.75B	1.90B	1.76B	1.59B	1.41B	1.45B	1.33B	2.38B	2.44B	2.46B	2.76B	3.93B
Other Expenses	4.01B	1.27B	-11.15B	-9.12B	-7.89B	-6.85B	-6.31B	-5.97B	-5.49B	-4.89B	-5.24B	-5.40B	-6.06B	-6.12B	-6.29B	-7.23B	-10.20B
Operating Expenses	6.00B	1.27B	-8.80B	-7.18B	-6.09B	-5.10B	-4.41B	-4.21B	-3.89B	-3.48B	-3.79B	-4.07B	-3.68B	-3.68B	-3.83B	-4.47B	-6.26B
Cost & Expenses	6.00B	7.28B	7.58B	6.16B	5.30B	5.14B	5.33B	5.10B	4.74B	4.33B	4.65B	4.07B	3.69B	3.69B	3.84B	4.48B	6.28B
Interest Income	0.00	350.00M	191.00M	206.44M	298.43M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Interest Expense	132.50M	93.00M	72.00M	57.47M	47.80M	40.98M	35.99M	32.21M	29.11M	19.25M	15.30M	9.07M	12.08M	14.90M	19.82M	27.22M	42.61M
Depreciation & Amortization	188.50M	167.00M	158.00M	148.98M	129.02M	125.93M	128.05M	99.05M	85.60M	85.60M	74.92M	74.95M	76.89M	78.91M	82.48M	95.24M	94.82M
EBITDA	595.40M	585.70M	0.00	1.13B	1.03B	776.44M	609.37M	608.84M	547.47M	455.40M	400.93M	551.42M	219.25M	307.65M	306.64M	6.54M	-91.95M
EBITDA Ratio	63.44%	6.48%	6.26%	0.77%	3.93%	13.48%	10.58%	10.91%	10.56%	9.72%	8.08%	12.13%	5.73%	7.80%	7.28%	-0.11%	-1.51%
Operating Income	401.50M	326.00M	419.00M	-94.16M	114.75M	649.11M	482.50M	509.31M	461.09M	369.13M	325.31M	475.79M	142.07M	225.88M	212.28M	-100.22M	-186.76M
Operating Income Ratio	42.78%	4.29%	4.54%	-1.33%	1.85%	11.29%	8.36%	9.13%	8.91%	7.89%	6.56%	10.48%	3.72%	5.78%	5.25%	-2.29%	-3.07%
Total Other Income/Expenses	-127.10M	325.70M	3.36B	922.53M	-3.37B	-3.39B	-3.60B	-3.44B	-3.15B	-2.90B	-3.17B	-9.07M	-3.97M	-6.52M	-7.93M	-115.92M	-208.83M
Income Before Tax	274.40M	326.00M	1.64B	923.27M	905.02M	609.54M	445.33M	477.58M	432.77M	350.56M	310.71M	467.41M	130.29M	212.11M	204.35M	-115.92M	-208.83M
Income Before Tax Ratio	29.24%	4.29%	17.81%	13.03%	14.59%	10.60%	7.71%	8.57%	8.36%	7.49%	6.27%	10.29%	3.41%	5.43%	5.05%	-2.65%	-3.44%
Income Tax Expense	58.90M	61.00M	393.00M	222.77M	195.17M	133.64M	23.47M	134.11M	143.90M	116.35M	123.64M	165.68M	51.71M	83.15M	70.07M	-43.43M	-86.39M
Net Income	216.80M	263.00M	1.24B	696.00M	707.41M	474.50M	423.05M	342.99M	288.09M	233.53M	186.37M	301.04M	78.28M	127.83M	122.39M	-84.01M	-142.98M
Net Income Ratio	23.10%	3.46%	13.46%	9.82%	11.41%	8.26%	7.33%	6.15%	5.57%	4.99%	3.76%	6.63%	2.05%	3.27%	3.02%	-1.92%	-2.35%
EPS	2.08	2.46	11.18	6.18	6.26	4.21	3.79	3.10	2.65	2.18	1.74	2.83	0.74	1.22	1.18	-0.81	-1.37
EPS Diluted	2.07	2.45	11.14	6.16	6.22	4.19	3.76	3.09	2.62	2.15	1.71	2.77	0.73	1.20	1.18	-0.81	-1.37
Weighted Avg Shares Out	104.30M	107.00M	111.00M	112.75M	113.08M	112.61M	111.67M	110.55M	108.43M	106.88M	106.99M	106.31M	105.20M	104.13M	104.01M	104.01M	104.01M
Weighted Avg Shares Out (Dil)	104.60M	107.30M	111.40M	113.02M	113.66M	113.28M	112.44M	111.16M	109.83M	108.69M	109.10M	108.54M	106.91M	106.18M	104.01M	104.01M	104.01M

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