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Major US title insurance and settlement services company for real estate transactions.
Major US title insurance and settlement services company for real estate transactions.
Collects a one-time premium when a property changes hands or is refinanced, paid at closing, so revenue follows housing and mortgage transaction volumes rather than the number of policies in force. Some premiums come through its own offices and the rest through independent agents, who keep a share. Commercial deals bring larger fees per transaction.
Moat: narrow (scale, distribution, data). Large title-plant database and agent network built over a century give scale and data advantages, though volume tracks housing.
Headquarters: Santa Ana, California, United States · Founded: 1889 · Employees: 19,102
Size First American Financial (FAF) is a United States Financials company (Specialty Insurance) with a market value of $6.84B, the 973rd largest of 3,117 United States companies the cockpit tracks. Shares closed at $67.01 on 6 Nov 2026.
Performance Over six months the shares fell 5.7%, against -4.6% for the median peer and -1.1% for the United States market (cap-weighted) — 4th lowest of 9 in its peer set.
Growth Revenue grew 14.1% over the last twelve months (peer median +7.8%); the operating margin is 14.1% (peer median 14.9%).
Valuation It trades at 1.27× book value against a peer median of 1.06× (4th most expensive of 9).
Price implies The share price implies a return on equity of about 13.2%; First American Financial delivers 13.7%, so the price asks less than the business earns today.
Credit First American Financial has 3 bonds outstanding ($1.55B), rated BBB- by the agencies and trading like BBB- at a weighted spread of 128 bp.
Short interest Short interest is 6.2% of the free float (15 Oct 2026).
Next results Next results expected around 10 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $8.09B | $7.45B | $6.12B | $6.00B | $7.59B |
| Revenue growth | — | +22% | +2% | -21% | — |
| Net income | $732M | $622M | $131M | $217M | $263M |
| Free cash flow | $806M | $762M | $679M | $90.9M | $520M |
| Capital expenditure | $164M | $188M | $218M | $263M | $260M |
| Total debt | $1.75B | $1.76B | $1.78B | $1.64B | $1.92B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| First American Financial FAF | $6.84B | -6% | +14% | 14% | 1.27× | 13.2% |
| Fidelity National Financial, Inc. - FNF FNF | $11.8B | -13% | +13% | 10% | 1.58× | 13.4% |
| Old Republic International ORI | $9.50B | +1% | +11% | 18% | 1.62× | 10.4% |
| Stewart Information Services STC | $1.43B | -33% | +21% | 8% | 0.86× | 9.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | FAF | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +6.7% | +3.8% | 3rd highest of 9 |
| 6-month return | -5.7% | -4.6% | 4th lowest of 9 |
| Return on equity | 13.7% | 11.0% | 3rd highest of 9 |
| Price / book | 1.27× | 1.06× | 4th most expensive of 9 |
| Trailing P/E | 9.4× | 9.5× | 5th cheapest of 9 |
| ROE the price implies | 13.2% | 8.9% | 3rd most demanding of 9 |
| ROE delivered | 13.7% | 11.1% | 3rd highest of 9 |
| Bond spread | 128 bp | 114 bp | 3rd widest of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| First American Financial FAF | United States | $6.84B | -6% | +14% | 14% | 1.27× | 13.2% | 13.7% |
| General Insurance Corporation of India GICRE.NS | India | $6.37B | -14% | -1% | 9% | 0.60× | 8.9% | 9.1% |
| Essent ESNT | United States | $5.70B | 0% | +4% | 12% | 1.01× | 8.5% | 12.0% |
| ICICI Lombard General Insurance ICICIGI.NS | India | $8.80B | -11% | +14% | 15% | 4.38× | 53.9% | 14.7% |
| Old Republic International ORI | United States | $9.50B | +1% | +11% | 18% | 1.62× | 10.4% | 17.9% |
| Radian RDN | United States | $4.76B | -5% | +28% | 12% | 1.00× | 8.3% | 12.0% |
| Fidelity National Financial, Inc. - FNF FNF | United States | $11.8B | -13% | +13% | 10% | 1.58× | 13.4% | 10.1% |
| Assured Guaranty AGO | United States | $3.23B | -2% | +3% | 6% | 0.58× | 6.0% | 6.3% |
| Coface COFA.PA | France | $2.65B | -4% | +1% | 9% | 1.11× | 8.8% | 9.4% |
First American Financial has 3 bonds outstanding with $1.55B face value. The agencies rate it BBB-; its bonds trade like BBB-. Weighted yield 5.97%, a spread of 128 bp over government bonds.