The company maintains a conservative capital structure with a stable $5.5 billion equity base as of 2026Q1, providing a buffer against the volatility inherent in its $17.9 billion asset base.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 |
|---|
| Total Assets | 17.94B | 16.23B | 14.91B | 16.8B | 19.64B | 16.47B | 12.8B | 11.52B | 14.38B | 13.06B | 11.85B | 11.02B | 10.24B | 8.98B | 8.4B | 5.37B | 5.82B | 5.53B | 5.67B | 5.35B |
| Asset Growth % | 38.26% | 8.86% | -11.27% | -14.46% | 19.29% | 28.69% | 11.08% | -19.87% | 10.11% | 10.22% | 7.54% | 7.61% | 14.03% | 6.83% | 56.46% | -7.76% | 5.27% | -2.39% | 5.81% | - |
| Total Investment Assets | 3M | 9.39B | 8.65B | 8.53B | 17.91B | 10.6B | 7.85B | 6.83B | 6.07B | 5.22B | 4.96B | 4.6B | 3.85B | 3.18B | 2.85B | 2.39B | 2.39B | 1.89B | 1.76B | 1.42B |
| Long-Term Investments | 27.28B | 9.39B | 8.65B | 8.53B | 8.92B | 10.54B | 7.11B | 6.31B | 6.07B | 5.22B | 4.96B | 4.6B | 3.85B | 3.18B | 2.85B | 2.39B | 2.39B | 1.89B | 1.76B | 1.42B |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 58M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Assets | 2.44B | 1.39B | 0 | 0 | 10.21B | 2.3B | 0 | 0 | 1.92B | 1.7B | 1.31B | 1.28B | 1.47B | 1.07B | 886.99M | 646.15M | 963.28M | 849.46M | 1.02B | 1.25B |
| Cash & Equivalents | 2.44B | 1.39B | 1.8B | 3.66B | 1.22B | 1.23B | 1.32B | 1.53B | 1.5B | 1.43B | 1.03B | 1.05B | 1.21B | 858.33M | 698.4M | 418.3M | 728.75M | 583.03M | 723.65M | 906.39M |
| Receivables | 1.71B | 432.6M | 436.1M | 585.1M | 389.1M | 441M | 386M | 335.35M | 413M | 311.08M | 299.8M | 256.73M | 276.61M | 236.9M | 259.78M | 227.85M | 234.54M | 266.43M | 298.6M | 338.74M |
| Other Current Assets | -398M | -432.6M | -2.24B | -4.25B | 33.9M | 2.94B | -1.71B | -1.87B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Goodwill & Intangibles | 8.37B | 1.92B | 2.6B | 2.61B | 1.99B | 1.81B | 2.16B | 1.82B | 1.25B | 1.21B | 1.1B | 1.01B | 1.02B | 892.37M | 902.95M | 878.41M | 882.08M | 879.88M | 893.89M | 927.42M |
| Goodwill | 1.91B | 1.82B | 1.8B | 1.81B | 1.8B | 1.59B | 1.38B | 1.15B | 1.14B | 1.11B | 1.02B | 964.34M | 959.95M | 846.03M | 845.86M | 818.42M | 812.03M | 800.99M | 806.2M | 827.31M |
| Intangible Assets | 95M | 100M | 799.1M | 806.2M | 194M | 218M | 779M | 671.51M | 109.37M | 99.91M | 78.9M | 48.11M | 55.81M | 46.35M | 57.09M | 59.99M | 70.05M | 78.89M | 87.69M | 100.11M |
| PP&E (Net) | 1.07B | 1.11B | 959.8M | 978.9M | 885M | 755M | 711M | 733.4M | 457.84M | 439.57M | 434.05M | 409.97M | 395.29M | 361.35M | 343.45M | 337.58M | 345.87M | 358.57M | 397.25M | 438.97M |
| Other Assets | -1.07B | -10.5B | -12.21B | -12.12B | -9.86B | -14M | -9.97B | -8.86B | -16.64M | -5.22B | -4.96B | -4.6B | -3.85B | -3.18B | -2.85B | -2.39B | -2.39B | -3.13B | -3.06B | -2.78B |
| Total Liabilities | 12.45B | 10.73B | 9.98B | 11.94B | 14.96B | 10.68B | 7.87B | 7.09B | 10.63B | 9.57B | 8.83B | 8.25B | 7.66B | 6.52B | 6.05B | 3.34B | 3.83B | 3.5B | 3.69B | 3.31B |
| Total Debt | 0 | 1.91B | 2.42B | 2.19B | 1.92B | 2.46B | 1.82B | 1.33B | 808.33M | 732.81M | 736.69M | 585.1M | 587.34M | 310.29M | 229.76M | 299.98M | 293.82M | 259.31M | 293.97M | 306.58M |
| Net Debt | -2.44B | 518.6M | 616.8M | -1.47B | 691M | 1.23B | 502M | -200.96M | -695.01M | -695.75M | -290.67M | -465.44M | -624.19M | -548.04M | -468.64M | -118.32M | -434.93M | -323.71M | -429.68M | -599.8M |
| Long-Term Debt | 0 | 1.68B | 1.55B | 1.09B | 1.39B | 1.65B | 1.01B | 568.23M | 572.02M | 732.81M | 731.84M | 576.03M | 587.34M | 310.29M | 221.32M | 299.98M | 293.82M | 259.31M | 293.97M | 306.58M |
| Short-Term Debt | 0 | 81.3M | 643.8M | 853.3M | 343M | 538M | 516M | 438.41M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Liabilities | 0 | 0 | 0 | 0 | 258M | 0 | 0 | 0 | 283.39M | 313.88M | 298.55M | 271.3M | 235.26M | 218.56M | 198.52M | 183.15M | 178.07M | 176.71M | 185.14M | 229.57M |
| Accounts Payable | 0 | 0 | 66.7M | 63.3M | 51M | 87M | 56M | 58.58M | 47.08M | 68.46M | 59.27M | 55.8M | 26.26M | 26.38M | 27.85M | 27.52M | 33.35M | 31.95M | 37.07M | 73.74M |
| Deferred Revenue | 199.3M | 214M | 0 | 0 | 197M | 14M | 0 | 0 | 243.28M | 240.82M | 228.91M | 207.93M | 202.76M | 192.18M | 170.66M | 155.63M | 144.72M | 144.76M | 148.07M | 155.83M |
| Other Current Liabilities | -199.3M | -295.3M | -1.19B | -1.35B | -1.03B | -1.19B | -1.1B | -844.85M | -350.08M | -364.62M | -345.97M | -320.47M | -293.89M | -280.82M | -67.42M | -231.18M | -377.82M | -176.71M | -185.14M | -701.9M |
| Deferred Taxes | 590.9M | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities | 12.45B | 8.35B | 7.94B | 10.43B | 8.48B | 8.27B | -1.87B | -1.41B | 4.07B | 3.37B | 3.1B | 4.57B | 4.2B | 0 | -428.97M | -299.98M | -293.82M | -259.31M | -293.97M | -306.58M |
| Total Equity | 5.49B | 5.5B | 4.93B | 4.86B | 4.69B | 5.78B | 4.92B | 4.43B | 3.75B | 3.48B | 3.01B | 2.76B | 2.58B | 2.46B | 2.35B | 2.03B | 1.99B | 2.03B | 1.97B | 2.04B |
| Equity Growth % | 31.27% | 11.62% | 1.32% | 3.73% | -18.93% | 17.49% | 11.23% | 18.15% | 7.53% | 15.55% | 9.15% | 7.21% | 4.88% | 4.44% | 15.57% | 2.07% | -1.92% | 2.97% | -3.24% | - |
| Shareholders Equity | 5.49B | 5.5B | 4.91B | 4.85B | 4.67B | 5.77B | 4.91B | 4.42B | 3.74B | 3.48B | 3.01B | 2.76B | 2.57B | 2.45B | 2.35B | 2.03B | 1.98B | 2.02B | 1.89B | 1.93B |
| Minority Interest | 22.6M | 24.8M | 18.5M | 14.7M | 23M | 16M | 12M | 4.52M | 3.51M | 3.07M | 6.17M | 3.16M | 3.13M | 3.19M | 3.7M | 6.34M | 13.7M | 13.05M | 82.42M | 109.68M |
| Retained Earnings | 4.08B | 4.01B | 3.62B | 3.71B | 3.72B | 3.68B | 2.65B | 2.16B | 1.64B | 1.31B | 1.05B | 846.69M | 662.31M | 520.76M | 387.01M | 124.82M | 72.07M | 0 | 0 | 0 |
| Common Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1K | 1K | 1K | 1K | 1K | 1K | 1K | 1K | 1K | 1K | 0 | 0 | 0 |
| Accumulated OCI | -322.5M | -256.7M | -496.4M | -655.8M | -868M | -92M | 40M | -41.49M | -160.57M | -67.51M | -230.4M | -239M | -199.11M | -145.54M | -150.56M | -177.46M | -149.16M | -147.49M | -261.45M | -95.3M |
| Return on Equity (ROE) | 12.54% | 11.93% | 2.68% | 4.54% | 5.02% | 23.19% | 14.89% | 17.31% | 13.13% | 13.02% | 11.88% | 10.79% | 9.28% | 7.75% | 13.73% | 3.89% | 6.35% | 6.11% | -4.18% | -7.01% |
| Return on Assets (ROA) | 3.95% | 3.99% | 0.83% | 1.19% | 1.46% | 8.48% | 5.72% | 5.46% | 3.46% | 3.4% | 3% | 2.71% | 2.43% | 2.14% | 4.37% | 1.4% | 2.25% | 2.19% | -1.52% | -2.67% |
| Equity / Assets | 30.61% | 33.89% | 33.05% | 28.94% | 23.87% | 35.12% | 38.47% | 38.41% | 26.05% | 26.68% | 25.45% | 25.07% | 25.17% | 27.36% | 27.99% | 37.89% | 34.25% | 36.76% | 34.85% | 38.11% |
| Debt / Equity | 0.00x | 0.35x | 0.49x | 0.45x | 0.41x | 0.43x | 0.37x | 0.30x | 0.22x | 0.21x | 0.24x | 0.21x | 0.23x | 0.13x | 0.10x | 0.15x | 0.15x | 0.13x | 0.15x | 0.15x |
| Book Value per Share | 53.14 | 53.03 | 47.24 | 46.49 | 43.69 | 51.91 | 43.55 | 38.93 | 33.06 | 30.98 | 27.12 | 25.15 | 23.70 | 22.51 | 21.67 | 19.03 | 18.78 | 19.55 | 18.98 | 19.62 |
| Tangible BV per Share | 33.70 | 34.52 | 22.28 | 21.50 | 25.13 | 35.70 | 24.46 | 22.90 | 22.00 | 20.19 | 17.26 | 15.93 | 14.36 | 14.33 | 13.35 | 10.82 | 10.47 | 11.09 | 10.39 | 10.70 |
Mortgage origination volume volatility
As reported in recent financial statements, First American Financial maintained a stable equity base of $5.5 billion in 2026Q1, demonstrating a capacity to preserve capital despite the significant fluctuations in total assets which reached $17.9 billion during the same period of heightened market uncertainty.
The stability of the equity base suggests that management has successfully navigated cyclical downturns without eroding the core capital buffer. This resilience appears to be a strategic priority, allowing the firm to maintain its market position even when transaction volumes in the title insurance segment face severe headwinds.
Based on the provided quarterly data, loss reserves exhibited significant variance, peaking at $730.9 million in 2025Q3 before moderating to $77.8 million by 2026Q1, which suggests that actuarial adjustments remain a primary driver of reported net income volatility for the company.
The wide swings in loss reserves warrant further investigation into the underlying claims environment and potential changes in actuarial assumptions. Investors should monitor whether these fluctuations represent genuine shifts in long-tail risk exposure or if they are being utilized to smooth earnings across different quarters.
According to historical balance sheet figures, the company has consistently managed its liabilities relative to equity, maintaining a structure that appears designed to withstand the cyclical nature of the mortgage industry while supporting ongoing operations through periods of reduced transaction activity.
The company's ability to keep its liability profile aligned with its equity base suggests a disciplined approach to capital management. This conservative stance may provide the necessary flexibility to pursue strategic investments in digital platforms like Endpoint without overextending the balance sheet during market troughs.
As indicated by the discrepancy between total assets and reported investment holdings, the company's off-balance sheet escrow deposits represent a significant, yet opaque, component of its financial influence that may be more sensitive to interest rate changes than the primary balance sheet suggests.
The reliance on interest income from these escrow balances acts as a synthetic hedge against declining title insurance volumes. However, this dependency implies that the company's financial health is structurally tied to the interest rate environment, which may introduce risks if rates decline unexpectedly.
Quick answers to the most common questions about buying FAF stock.
As of 2025, First American Financial Corporation (FAF) had total assets of $16.23B including $1.39B in current assets.
First American Financial Corporation (FAF) carries total debt of $1.91B, offset by $1.39B in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
First American Financial Corporation (FAF) has total shareholders' equity (book value) of $5.50B ($53.03 book value per share). Book value represents the net worth of the company belonging to common stock holders.