FAFFirst American Financial Corp
Title Insurance
- Revenue
- $7.5B
- 22% YoY
- Operating margin
- —
- EBITDA
- —
- Market cap
- $6.5B
- Employees
- 19,102
- $390K revenue each
- Net debt / EBITDA
- —
- AI in 10-K
- 0.7
- mentions per 10K words
Takeover score 1 of 13
Fixable underperformance 0 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo153% of net incomeCash flow under 80% of net income
- Dilutive SBCNo1% of revenueOver 10% of revenue
- Payouts exceed cash flowNo36% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo10% of assetsOver 40% of assets
- Shareholder dissentNo98% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeYes$390K · 18th pctBottom quartile of its SIC industry
- Quiet on AINo0.7 per 10K words · 27th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedNo$6.5B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo$3M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $9.2B | $7.6B | $6.0B | $6.1B | $7.5B | 22% |
| Net income | $1.2B | $263M | $217M | $131M | $622M | 374% |
| Operating cash flow | $1.2B | $778M | $354M | $898M | $951M | 5.9% |
| Capex | $161M | $260M | $263M | $218M | $188M | 14% |
| Stock-based comp | $54M | $67M | $49M | $52M | $68M | 32% |
| Buybacks | $99M | $441M | $73M | $69M | $122M | 79% |
| Dividends | $213M | $218M | $217M | $221M | $223M | 1.0% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $4M · 3
- Open-market sells, 12 mo
- $1M · 4
- Net
- $3M
Pay vs performance
No pay-versus-performance disclosure yet.