First American Financial (FAF) Operating Expenses (2009 - 2026)
First American Financial (FAF) reported Operating Expenses of $1.7 billion for Q1 2026, up 12.82% on a YoY basis from $1.5 billion in Q1 2025, and up 134.49% quarter-over-quarter from -$4.9 billion in Q4 2025.
First American Financial (FAF) Operating Expenses (2009 - 2026) Analysis & Trends
First American Financial has reported Operating Expenses for 18 years, with the latest figure at $1.7 billion in Q1 2026.
- For the quarter ending Q1 2026, Operating Expenses rose 12.82% year-over-year to $1.7 billion; the trailing twelve-month figure through Mar 2026 stood at $193.6 million (up 57.91% YoY), and the FY2025 full-year result was $3.1 million, down 3.12% from the prior year.
- Operating Expenses for Q1 2026 stood at $1.7 billion, up from -$4.9 billion in the prior quarter.
- The five-year high for Operating Expenses was $1.9 billion in Q2 2022, with the low at -$4.9 billion in Q4 2025.
- Historically, Operating Expenses has averaged $527.4 million across 5 years, with a median of $1.5 billion in 2025.
- Annual changes were most pronounced in 2022 — Operating Expenses jumped 129.39% — and 2023, when it tumbled 366.45%.
- First American Financial's Operating Expenses stood at $1.6 billion in 2022, then plunged by 366.45% to -$4.3 billion in 2023, then dropped by 0.9% to -$4.4 billion in 2024, then dropped by 11.12% to -$4.9 billion in 2025, then soared by 134.49% to $1.7 billion in 2026.
- The last three Operating Expenses figures came in at $1.7 billion (Q1 2026), -$4.9 billion (Q4 2025), and $1.7 billion (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Fidelity National Financial | 12.87 Bn | 10.21 Bn | 2.62 Bn | 2.73 Bn |
| 2 | Axis Capital Holdings | 7.52 Bn | 6.65 Bn | - | 1.34 Bn |
| 3 | First American Financial | 6.80 Bn | 3.91 Bn | 1.24 Bn | 1.68 Bn |
| 4 | Enact Holdings | 6.01 Bn | 5.46 Bn | 205.74 Mn | 98.69 Mn |
| 5 | Mgic Investment | 5.57 Bn | 5.32 Bn | 202.12 Mn | 90.25 Mn |
| 6 | Essent | 5.47 Bn | 5.47 Bn | - | 129.35 Mn |
| 7 | Radian | 4.74 Bn | 4.66 Bn | 368.17 Mn | 292.67 Mn |
| 8 | Ryan Specialty Holdings | 4.62 Bn | 5.05 Bn | - | 700.63 Mn |
| 9 | Assured Guaranty | 3.42 Bn | -495.48 Mn | 216.00 Mn | 227.00 Mn |
| 10 | NMI Holdings | 2.82 Bn | 2.75 Bn | 152.85 Mn | 58.53 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 1.68 Bn |
| Dec 31, 2025 | -4.86 Bn |
| Sep 30, 2025 | 1.73 Bn |
| Jun 30, 2025 | 1.65 Bn |
| Mar 31, 2025 | 1.49 Bn |
| Dec 31, 2024 | -4.37 Bn |
| Sep 30, 2024 | 1.55 Bn |
| Jun 30, 2024 | 1.46 Bn |
| Mar 31, 2024 | 1.37 Bn |
| Dec 31, 2023 | -4.34 Bn |
| Sep 30, 2023 | 1.48 Bn |
| Jun 30, 2023 | 1.47 Bn |
| Mar 31, 2023 | 1.39 Bn |
| Dec 31, 2022 | 1.63 Bn |
| Sep 30, 2022 | 1.83 Bn |
| Jun 30, 2022 | 1.92 Bn |
| Mar 31, 2022 | 1.90 Bn |
| Dec 31, 2021 | -5.54 Bn |
| Sep 30, 2021 | 1.95 Bn |
| Jun 30, 2021 | 1.87 Bn |