$5 B

FAF Mkt cap, 14-Dec-2018

$451.8 M

First American Revenue Q3, 2018
First American Gross profit (Q3, 2018)221.3 M
First American Gross profit margin (Q3, 2018), %49%
First American Net income (Q3, 2018)22.5 M
First American EBIT (Q3, 2018)59.8 M
First American Cash, 30-Sep-201897.9 M
First American EV4.9 B

First American Revenue

First American revenue was $1.85 b in FY, 2017

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First American Revenue Breakdown

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First American revenue breakdown by business segment: 7.8% from Specialty Insurance, 92.1% from Title Insurance and Services and 0.1% from Other

First American Income Statement

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

5.0b4.7b5.2b5.6b1.9b

Revenue growth, %

(6%)11%8%

Cost of goods sold

670.2m740.3m776.5m1.0t974.9m

Gross profit

4.3b3.9b4.4b(1.0t)876.3m

Gross profit Margin, %

86%84%85%(18622%)47%

General and administrative expense

461.5b459.8m

Operating expense total

461.5b1.6b

Depreciation and amortization

177.8m

EBIT

172.9m169.8m202.9m274.6b238.6m

EBIT margin, %

3%4%4%4925%13%

Interest expense

15.3m19.2m29.1m32.2m63.4m

Interest income

4.7m4.1m4.0m3.1b1.5m

Pre tax profit

310.7m350.6m432.8m477.6m

Income tax expense

123.6m116.3m143.9m134.1m18.2m

Net Income

187.1m234.2m288.9m343.5m152.2m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Revenue

405.5m310.4m349.4m367.5m364.8m386.0m386.4m453.5m500.2m523.9m439.9m474.0m483.1m444.9m488.4m451.8m

Cost of goods sold

213.8m177.4m182.2m185.2m185.5m189.7m192.8m245.4m264.7m275.5m252.0m249.2m244.2m239.4m239.3m230.4m

Gross profit

191.8m133.0m167.2m182.3m179.2m196.3m193.6m208.2m235.5m248.4m187.9m224.8m238.9m205.5m249.1m221.3m

Gross profit Margin, %

47%43%48%50%49%51%50%46%47%47%43%47%49%46%51%49%

General and administrative expense

89.9m89.8m68.1m98.3m91.2m111.2m116.7m119.1m111.9m103.6m131.3m115.0m112.0m113.1m

Operating expense total

333.5m296.8m307.3m289.7m315.5m325.3m320.5m396.2m424.7m439.1m407.3m395.6m420.8m400.5m398.8m392.0m

Depreciation and amortization

29.4m35.3m35.8m37.3m36.4m39.6m43.3m44.5m43.5m46.1m47.4m48.5m

EBIT

49.3m60.7m65.9m57.3m75.5m84.8m32.6m78.4m62.3m44.4m89.6m59.8m

EBIT margin, %

14%16%17%13%15%16%7%17%13%10%18%13%

Interest expense

12.6m16.8m17.3m18.4m13.8m17.5m17.2m14.3m18.4m14.4m14.1m14.5m16.7m17.7m19.0m19.4m

Interest income

1.0m1.2m1.0m870.0k1.5m882.0k645.0k627.0k557.0k736.0k338.0k592.0k393.0k530.0k224.0k299.0k

Pre tax profit

76.5m116.0m58.9m141.6m115.4m75.6m153.6m166.9m83.9m

Income tax expense

23.8m(362.0k)11.3m14.3m11.5m14.2m21.8m15.8m20.3m15.9m6.3m18.6m11.9m(711.0k)17.3m20.8m

Net Income

43.7m(2.5m)16.2m45.7m29.4m33.0m28.5m27.5m40.4m35.1m15.4m41.3m30.8m28.3m58.5m22.5m

First American Balance Sheet

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

834.8m1.2b1.0b1.0b118.8m

Accounts Receivable

196.3m214.3m241.0m269.2m256.6m

Inventories

50.7m51.4m45.9m43.1m

Current Assets

641.6m500.6m542.3m391.9m430.3m

PP&E

361.3m395.3m410.0m434.1m447.7m

Goodwill

846.0m959.9m964.3m1.0b

Total Assets

6.5b7.7b8.3b8.8b4.1b

Accounts Payable

26.4m26.3m55.8m59.3m143.8m

Short-term debt

70.0m

Current Liabilities

538.0m550.6m614.5m668.4m613.4m

Long-term debt

Total Debt

70.0m

Total Liabilities

2.9b3.1b

Additional Paid-in Capital

2.1b2.1b2.2b2.2b224.5m

Retained Earnings

520.8m662.3m846.7m1.0b877.1m

Total Equity

2.5b2.6b2.8b3.0b

Debt to Assets Ratio

0 x

Financial Leverage

2.7 x3 x3 x2.9 x

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Cash

135.6m122.9m140.9m127.6m89.7m113.1m160.3m133.1m72.4m79.0m102.9m89.4m149.4m123.7m85.0m97.9m

Accounts Receivable

270.0m194.0m197.7m223.7m226.5m267.1m239.9m245.1m267.1m283.1m258.1m270.6m278.5m244.0m256.2m254.3m

Current Assets

580.8m632.5m633.0m531.0m501.6m559.5m565.6m476.6m441.6m445.6m413.8m433.7m481.5m421.0m410.0m414.6m

PP&E

194.0m375.2m372.8m365.8m359.3m351.0m341.0m370.0m455.4m443.6m440.4m433.4m453.9m443.9m453.8m453.4m

Goodwill

993.9m955.8m983.7m970.5m968.6m967.0m982.8m1.0b1.0b

Total Assets

3.1b3.7b3.7b3.6b3.5b3.5b3.6b3.6b4.0b4.0b3.9b4.0b4.1b4.1b4.2b4.1b

Accounts Payable

183.2m158.4m160.7m148.2m178.9m167.8m169.4m188.4m175.5m180.9m186.2m144.9m161.0m171.0m160.0m157.6m

Short-term debt

6.1m43.9m33.3m21.9m16.2m48.1m48.3m43.6m43.9m87.5m122.6m140.0m92.5m49.7m49.7m27.1m

Current Liabilities

521.0m558.1m597.6m558.5m532.1m572.0m582.3m585.8m586.5m655.9m688.4m646.5m635.3m607.5m596.5m572.5m

Total Debt

6.1m43.9m33.3m21.9m16.2m48.1m48.3m43.6m43.9m87.5m122.6m140.0m92.5m49.7m49.7m27.1m

Total Liabilities

1.9b2.7b2.6b2.5b2.4b2.5b2.6b2.5b2.9b2.9b2.9b2.9b3.1b3.1b3.1b3.1b

Additional Paid-in Capital

758.7m661.8m645.3m612.2m613.2m570.7m539.6m559.9m542.1m471.7m382.9m371.5m290.3m219.6m186.8m174.0m

Retained Earnings

438.9m423.0m439.0m484.4m523.1m554.9m581.9m645.9m686.3m721.4m740.4m781.6m812.4m881.8m940.3m962.8m

Total Equity

1.2b1.0b1.1b1.0b1.0b1.0b989.5m2.8b2.9b3.0b3.1b

Debt to Equity Ratio

0 x0 x0 x0 x0 x0 x0 x0 x0 x

Debt to Assets Ratio

0 x0 x0 x0 x0 x0 x0 x0 x0 x0 x0 x0 x

Financial Leverage

2.7 x3.6 x3.5 x3.4 x3.4 x3.5 x3.6 x1.3 x1.4 x1.3 x1.3 x

First American Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

187.1m234.2m288.9m343.5m152.2m

Depreciation and Amortization

127.0m138.4m146.6m173.0b177.8m

Accounts Receivable

21.2m13.2m(15.0m)(24.0m)15.5m

Inventories

Accounts Payable

5.3m(15.0m)36.7m(29.3m)(44.6m)

Cash From Operating Activities

378.5m360.6m551.3m489.4m

Purchases of PP&E

(68.7m)(52.0m)(44.1m)(45.2m)(40.5m)

Long-term Borrowings

(168.2m)(325.1m)(5.2m)(5.2m)(1.8b)

Cash From Financing Activities

252.8m837.1m266.4m106.8m

Interest Paid

10.8m17.3m29.2m30.1m53.5m

Income Taxes Paid

120.3m72.0m89.1m116.3m71.7m

Free Cash Flow

465.6m457.9m675.0m357.2m

First American Ratios

USDY, 2018

EV/EBIT

82.2 x
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First American Operating Metrics

First American's Reported Claims, units was reported to be 971 in FY, 2016.
FY, 2014FY, 2015FY, 2016

Reported Claims, units

789 867 971
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First American Human Capital

Ethnicity

Y, 2016
White73 %
Hispanic12 %
Asian8 %
Other7 %
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First American Employee Rating

3.5905 votes
Culture & Values
3.6
Work/Life Balance
3.6
Senior Management
3.3
Salary & Benefits
3.3
Career Opportunities
3.3
Source