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First American Financial cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$197M in Q3 2026 · $806M over twelve months

Operating cash flow$238M
Capital spending−$41.4M
Free cash flow+$197M
Cash / net income1.3×

Analysis

In Q3 2026, First American Financial generated $238M of operating cash flow and spent $41.4M on capital projects, leaving free cash flow of $197M. That is $26.5M less than in Q3 2025 ($223M).

Over the twelve months to Sep 30, 2026, operating cash flow was $970M; the largest uses were other investing ($2.0B), dividends ($168M), capital spending ($164M); besides operations, cash came from other financing ($198M); the cash balance fell by $1.2B.

Operating cash flow was $238M against net income of $177M — 1.3× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$54.7M, payables +$53.5M, income taxes payable −$35.4M.

Free cash flow

First American Financial: free cash flow by quarterFirst American Financial: free cash flow by quarter$266MQ4 2024−$94.5MQ1 2025$309MQ2 2025$223MQ3 2025$324MQ4 2025−$32.7MQ1 2026$317MQ2 2026$197MQ3 2026
Operating cash flow less capital spending.
First American Financial: operating cash flow against capital spendingFirst American Financial: operating cash flow against capital spendingOperating cash flowCapital spending$325M$58.4MQ4 2024−$52.8M$41.7MQ1 2025$362M$52.4MQ2 2025$272M$49.4MQ3 2025$369M$44.8MQ4 2025$5.6M$38.3MQ1 2026$357M$39.2MQ2 2026$238M$41.4MQ3 2026
Latest (Q3 2026): Operating cash flow $238M, Capital spending $41.4M.

Capital allocation, year by year

First American Financial: where the cash came from (up) and went (down), by fiscal yearFirst American Financial: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $1.2BFY2021: Net borrowing $634MFY2021: Asset sales $17.8MFY2021: Capital spending −$160MFY2021: Acquisitions −$257MFY2021: Buybacks −$99.2MFY2021: Dividends −$213M$1.9BFY2021FY2022: Operating cash flow $778MFY2022: Net borrowing −$8.8MFY2022: Asset sales $6.8MFY2022: Capital spending −$260MFY2022: Acquisitions −$311MFY2022: Buybacks −$441MFY2022: Dividends −$218M$784MFY2022FY2023: Operating cash flow $354MFY2023: Net borrowing −$8.0MFY2023: Asset sales $100KFY2023: Capital spending −$263MFY2023: Buybacks −$72.7MFY2023: Dividends −$217M$354MFY2023FY2024: Operating cash flow $898MFY2024: Net borrowing $437MFY2024: Asset sales $600KFY2024: Capital spending −$218MFY2024: Buybacks −$68.5MFY2024: Dividends −$221M$1.3BFY2024FY2025: Operating cash flow $951MFY2025: Net borrowing −$6.0MFY2025: Asset sales $600KFY2025: Capital spending −$188MFY2025: Buybacks −$122MFY2025: Dividends −$223M$951MFY2025
Over these 5 years operating cash flow totalled $4.2B; the largest uses were dividends ($1.1B) and capital spending ($1.1B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$1.7B
Debtnone
Net cash$1.7B
Due within a year$3.4M

First American Financial funds itself: free cash flow was $806M over the last twelve months, with $1.7B of cash and investments and no debt on the balance sheet ($3.4M due within a year, 509.1× covered by cash).

First American Financial: debt maturities by year (FY2025)First American Financial: debt maturities by year (FY2025)$3.4MYear 1$2.2MYear 2$2.0MYear 3$200KYear 4$450MYear 5$1.1BAfter year 5
Principal due in each year as disclosed in the annual report, against $1.7B of cash and investments now.

Where the cash came from and went

First American Financial: sources (+) and uses (−) of cash, Q3 2026First American Financial: sources (+) and uses (−) of cash, Q3 2026Cash drawn (+) / kept (−)$894MOther financing−$818MOther investing−$269MOperating cash flow$238MCapital spending−$41.4MExchange rates$1.8MNet borrowing (+) / repaid (−)−$1.7MBuybacks−$1.5MPartners−$1.3MAsset & business sales−$400K
First American Financial: sources (+) and uses (−) of cash, TTM to Q3 2026First American Financial: sources (+) and uses (−) of cash, 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 profit to cash

First American Financial: net income to operating cash flow, Q3 2026First American Financial: net income to operating cash flow, Q3 2026Net income$177MDepreciation & amortization$54.7MStock-based pay$11.3MGains on investments$1.6MReceivables−$8.3MPayables$53.5MIncome taxes payable−$35.4MOperating cash flow$238M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$238M−$41.4M−$1.5M—−$1.7M$894M$197M
Q2 2026$357M−$39.2M−$20.5M−$56.1M−$500K−$189M$317M
Q1 2026$5.6M−$38.3M−$33.5M−$56.2M−$600K−$1.0B−$32.7M
Q4 2025$369M−$44.8M—−$56.0M−$800K$1.5B$324M
Q3 2025$272M−$49.4M−$33.6M−$56.0M−$1.6M−$880M$223M
Q2 2025$362M−$52.4M−$60.5M−$55.3M−$700K$13.9M$309M
Q1 2025−$52.8M−$41.7M−$28.2M−$55.7M−$600K−$327M−$94.5M
Q4 2024$325M−$58.4M−$8.2M−$55.5M−$900K$1.2B$266M

First American Financial: income statement and cash flow

First American Financial, Q3 2026: revenue $2.1B (+5% year over year), operating margin 10.9%. The chart follows the revenue to costs, profit and cash.

First American Financial: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.