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First American Financial (FAF) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Oct 23, 2026 · First American Financial (FAF) Q3 2026 earnings results →

Q3 2026 Revenue up 5% year over year to $2.1B · 8¢ of every $1 of revenue kept as net profit · operating margin 10.9%

First American Financial made $2.1B in Q3 2026 (+5% Y/Y). Operating margin 10.9%, net earnings $177M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 23, 2026.

Revenue$2.1B
Year over year+5%
Operating margin10.9%
Net earnings$177M
Operating cash flow$238M

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First American Financial Q3 2026 revenue breakdown: Sankey diagram of revenue, costs, profit and cash flow
First American Financial Q3 2026 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $2.1B in Q3 2026, up 5% year over year and down 2% from the previous quarter.

Operating profit was $0.23B, a 10.9% margin (down 1.6 points year over year). Operating profit fell $0.02B even though revenue rose $0.11B versus Q3 2025, so costs grew faster than sales. Total costs grew 7% against revenue growth of 5%. Net earnings were $0.18B, down 7% year over year. The effective tax rate was 22.4%.

Operating cash flow was $0.24B (down 13% year over year), 135% of net earnings. Non-cash charges added back $0.05B of depreciation and amortization and $0.01B of share-based compensation. Capital expenditures of $0.04B left free cash flow of $0.20B.

Quarterly history

First American Financial revenue by quarterFirst American Financial revenue by quarter$1.6BQ1 2025$1.8BQ2 2025$2.0BQ3 2025$2.0BQ4 2025$1.8BQ1 2026$2.1BQ2 2026$2.1BQ3 2026
First American Financial net earnings by quarterFirst American Financial net earnings by quarter$74.8MQ1 2025$147MQ2 2025$190MQ3 2025$213MQ4 2025$125MQ1 2026$219MQ2 2026$177MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QOct 23, 2026$2.1B+5%10.9%$177M$238M
Q2 202610-QJul 23, 2026$2.1B+15%13.4%$219M$357M
Q1 202610-QApr 24, 2026$1.8B+16%8.8%$125M$5.6M
Q4 202510-KFeb 18, 2026$2.0B+22%14.0%$213M$369M
Q3 202510-QOct 24, 2025$2.0B+41%12.5%$190M$272M
Q2 202510-QJul 25, 2025$1.8B+14%10.6%$147M$362M
Q1 202510-QApr 25, 2025$1.6B+11%6.1%$74.8M−$52.8M

Charts

First American Financial: revenue growth, year over year and quarter over quarterFirst American Financial: revenue growth, year over year and quarter over quarterY/YQ/Q+11%Q1 2025+14%+16%Q2 2025+41%+7%Q3 2025+22%+4%Q4 2025+16%-10%Q1 2026+15%+15%Q2 2026+5%-2%Q3 2026
Latest (Q3 2026): Y/Y +5%, Q/Q -2%.
First American Financial: where the cash came from (+) and went (−), TTM to Q3 2026First American Financial: where the cash came from (+) and went (−), TTM to Q3 2026Other investing−$2.0BCash drawn (+) / kept (−)$1.2BOperating cash flow$970MOther financing$198MDividends−$168MCapital spending−$164MBuybacks−$55.5MPartners−$4.2MNet borrowing (+) / repaid (−)−$3.6MExchange rates−$100K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
First American Financial: profit against cash, quarter by quarterFirst American Financial: profit against cash, quarter by quarterNet incomeOperating cash flow$72.9M$325MQ4 2024$74.8M−$52.8MQ1 2025$147M$362MQ2 2025$190M$272MQ3 2025$213M$369MQ4 2025$125M$5.6MQ1 2026$219M$357MQ2 2026$177M$238MQ3 2026
Latest (Q3 2026): Net income $177M, Operating cash flow $238M.
First American Financial: diluted shares by fiscal yearFirst American Financial: diluted shares by fiscal year113MFY2020111MFY2021107MFY2022105MFY2023104MFY2024104MFY2025
-8.2% since FY2020: buybacks shrank the count.
First American Financial: long-term debt falling due (FY2025)First American Financial: long-term debt falling due (FY2025)$3.4M2026$2.2M2027$2.0M2028$200K2029$450M2030$1.1BLater
Cash $1.4B, short-term investments —, long-term debt — at 2025-12-31.
First American Financial in its industry: growth against margin (4 companies, SIC 6361)First American Financial in its industry: growth against margin (4 companies, SIC 6361)revenue growth, year over year →↑ operating marginmedian +12%median 14%FNFSTCITICFAF (+5%, 11%)
Title Insurance; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

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💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About First American Financial

First American Financial Corporation traces its heritage back to 1889. On June 1, 2010, its common stock was listed on the New York Stock Exchange under the ticker symbol “FAF.” First American’s executive offices are located at 1 First American Way, Santa Ana, California 92707-5913 and its telephone number is (714) 250-3000. Unless otherwise indicated or otherwise required by the context, the terms “we,” “our,” “it,” “its,” “Company” and “First American” refer to First American Financial Corporation and its subsidiaries.

In its own words, from its 10-K, filed Feb 18, 2026.

First American Financial against its Title Insurance peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +5% against the peers' median +12%. Operating margin: 10.9% against the peers' median 13.9%.

CompanyQuarterRevenueY/YOp. margin
FAF First American FinancialQ3 2026$2.1B+5%10.9%
FNF Fidelity National FinancialQ3 2026$3.6B-11%34.8%
STC Stewart Information ServicesQ3 2026$901M+13%5.1%
ITIC Investors TitleQ3 2026$81.9M+12%13.9%

Source: First American Financial 10-Q on SEC EDGAR · CIK 1472787 · Title Insurance

13F: who owns FAF and who is buying

Largest holders of FAF (13F)Largest holders of FAF (13F)BlackRock$644MFMR LLC$628MVanguard Group$626MBoston Partners$401MVanguard Portfolio Management LLC$371MDimensional Fund Advisors LP$336MVanguard Capital Management LLC$303MState Street$232MAriel Investments, LLC$222MArrowstreet Capital, Limited Part…$136M
Funds' net buying of FAF by quarter (13F)Funds' net buying of FAF by quarter (13F)−$299M2024-09$66.9M2024-12−$105M2025-03$122M2025-06−$45.8M2025-09$152M2025-12$120M2026-03−$8.7M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on FAF

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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中文版：First American Financial（FAF）财报

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