First American Financial Corporation
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $621.8M | $131.1M | $216.8M | $263.0M | $1.24B | $696.0M | $707.0M | $474.5M |
| Depreciation & Amortization | $216.2M | $207.4M | $188.5M | $167.5M | $158.4M | $149.0M | $129.0M | $125.9M |
| Depreciation | — | — | — | — | — | — | — | — |
| Amortization | $37.6M | $44.4M | $51.5M | $53.2M | $50.7M | $43.0M | $28.0M | $30.4M |
| Stock-Based Compensation | $68.4M | $52.0M | $49.1M | $67.3M | $53.6M | $52.0M | $42.0M | $41.1M |
| Net Cash from Operating Activities | $950.8M | $897.5M | $354.3M | $777.6M | $1.22B | $1.09B | $913.0M | $793.2M |
| Investing Activities | ||||||||
| Capital Expenditures | $188.3M | $218.3M | $263.4M | $259.8M | $160.5M | $114.0M | $107.0M | $118.2M |
| Business Acquisitions | — | — | — | $311.0M | $257.0M | $397.6M | — | — |
| Net Cash from Investing Activities | $-1.46B | $-458.7M | $599.5M | $-393.0M | $-3.39B | $-1.42B | $-452.0M | $-1.22B |
| Financing Activities | ||||||||
| Dividends Paid | $223.0M | $220.7M | $216.6M | $217.5M | $213.0M | $199.0M | $188.0M | $178.5M |
| Stock Repurchases | $122.3M | $68.5M | $72.7M | $440.7M | $99.2M | $139.0M | $2.0M | $18.8M |
| Net Cash from Financing Activities | $161.2M | $-2.31B | $1.42B | $-376.4M | $2.13B | $113.0M | $-445.0M | $514.7M |
| Net Change in Cash | $-330.8M | $-1.89B | $2.38B | $-4.5M | $-47.5M | $-211.0M | $19.0M | $79.9M |
| Free Cash Flow | $762.5M | $679.2M | $90.9M | $517.8M | $1.06B | $971.0M | $806.0M | $675.0M |