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First American Financial Corp（FAF）与Fidelity National Financial, Inc.（FNF）财务数据对比。点击上方公司名可切换其他公司
First American Financial Corp的季度营收约是Fidelity National Financial, Inc.的3.8倍（$2.0B vs $544.0M）。First American Financial Corp净利率更高（10.3% vs -21.5%，领先31.8%）。First American Financial Corp同比增速更快（21.6% vs 10.3%）。过去两年First American Financial Corp的营收复合增速更高（19.9% vs 13.7%）
第一美国金融公司是美国知名金融服务企业，主要面向房地产及抵押贷款行业开展业务，核心服务涵盖产权保险、房产交易与抵押业务相关的交割结算服务，在全球地产金融服务领域具备成熟的服务能力与较高的行业认可度。
富达国民金融是美国财富500强企业，主要面向房地产与抵押贷款行业提供产权保险及交割服务，2019年其产权及房地产业务相关年度营收约为84.69亿美元，是全球领先的产权保险服务供应商。
FAF vs FNF — 直观对比
营收规模更大
FAF
是对方的3.8倍
$544.0M
营收增速更快
FAF
高出11.3%
10.3%
净利率更高
FAF
高出31.8%
-21.5%
两年增速更快
FAF
近两年复合增速
13.7%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $2.0B | $544.0M |
| 净利润 | $211.9M | $-117.0M |
| 毛利率 | — | — |
| 营业利润率 | 14.0% | 82.9% |
| 净利率 | 10.3% | -21.5% |
| 营收同比 | 21.6% | 10.3% |
| 净利润同比 | 192.7% | -126.0% |
| 每股收益（稀释后） | $2.04 | $-0.44 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收FAFFNF
| Q4 25 | $2.0B | $544.0M | ||
| Q3 25 | $2.0B | $553.0M | ||
| Q2 25 | $1.8B | $547.0M | ||
| Q1 25 | $1.6B | $455.0M | ||
| Q4 24 | $1.7B | $493.0M | ||
| Q3 24 | $1.4B | $506.0M | ||
| Q2 24 | $1.6B | $504.0M | ||
| Q1 24 | $1.4B | $421.0M |
净利润FAFFNF
| Q4 25 | $211.9M | $-117.0M | ||
| Q3 25 | $189.6M | $358.0M | ||
| Q2 25 | $146.1M | $278.0M | ||
| Q1 25 | $74.2M | $83.0M | ||
| Q4 24 | $72.4M | $450.0M | ||
| Q3 24 | $-104.0M | $266.0M | ||
| Q2 24 | $116.0M | $306.0M | ||
| Q1 24 | $46.7M | $248.0M |
营业利润率FAFFNF
| Q4 25 | 14.0% | 82.9% | ||
| Q3 25 | 12.5% | 81.9% | ||
| Q2 25 | 10.6% | 69.8% | ||
| Q1 25 | 6.1% | 24.4% | ||
| Q4 24 | 5.9% | — | ||
| Q3 24 | -10.3% | 61.9% | ||
| Q2 24 | 9.4% | 90.9% | ||
| Q1 24 | 4.1% | 78.6% |
净利率FAFFNF
| Q4 25 | 10.3% | -21.5% | ||
| Q3 25 | 9.6% | 64.7% | ||
| Q2 25 | 7.9% | 50.8% | ||
| Q1 25 | 4.7% | 18.2% | ||
| Q4 24 | 4.3% | 91.3% | ||
| Q3 24 | -7.4% | 52.6% | ||
| Q2 24 | 7.2% | 60.7% | ||
| Q1 24 | 3.3% | 58.9% |
每股收益（稀释后）FAFFNF
| Q4 25 | $2.04 | $-0.44 | ||
| Q3 25 | $1.84 | $1.33 | ||
| Q2 25 | $1.41 | $1.02 | ||
| Q1 25 | $0.71 | $0.30 | ||
| Q4 24 | $0.70 | $1.65 | ||
| Q3 24 | $-1.00 | $0.97 | ||
| Q2 24 | $1.11 | $1.12 | ||
| Q1 24 | $0.45 | $0.91 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $1.4B | $2.6B |
| 总债务越低越好 | — | $4.4B |
| 股东权益账面价值 | $5.5B | $7.4B |
| 总资产 | $16.2B | $109.0B |
| 负债/权益比越低杠杆越低 | — | 0.59× |
8季度趋势，按日历期对齐
现金及短期投资FAFFNF
| Q4 25 | $1.4B | $2.6B | ||
| Q3 25 | $2.9B | $3.5B | ||
| Q2 25 | $2.0B | $3.3B | ||
| Q1 25 | $2.0B | $4.5B | ||
| Q4 24 | $1.7B | $3.5B | ||
| Q3 24 | $3.0B | $5.0B | ||
| Q2 24 | $2.0B | $4.9B | ||
| Q1 24 | $1.5B | $3.5B |
总债务FAFFNF
| Q4 25 | — | $4.4B | ||
| Q3 25 | — | $4.4B | ||
| Q2 25 | — | $4.4B | ||
| Q1 25 | — | $4.4B | ||
| Q4 24 | — | $4.3B | ||
| Q3 24 | — | $4.2B | ||
| Q2 24 | — | $4.2B | ||
| Q1 24 | — | $3.9B |
股东权益FAFFNF
| Q4 25 | $5.5B | $7.4B | ||
| Q3 25 | $5.3B | $8.4B | ||
| Q2 25 | $5.1B | $7.9B | ||
| Q1 25 | $5.0B | $7.9B | ||
| Q4 24 | $4.9B | $7.8B | ||
| Q3 24 | $5.1B | $8.1B | ||
| Q2 24 | $4.8B | $7.3B | ||
| Q1 24 | $4.8B | $7.1B |
总资产FAFFNF
| Q4 25 | $16.2B | $109.0B | ||
| Q3 25 | $17.6B | $106.6B | ||
| Q2 25 | $16.3B | $102.3B | ||
| Q1 25 | $15.5B | $98.2B | ||
| Q4 24 | $14.9B | $95.4B | ||
| Q3 24 | $16.6B | $94.7B | ||
| Q2 24 | $15.2B | $88.8B | ||
| Q1 24 | $14.7B | $84.5B |
负债/权益比FAFFNF
| Q4 25 | — | 0.59× | ||
| Q3 25 | — | 0.53× | ||
| Q2 25 | — | 0.56× | ||
| Q1 25 | — | 0.56× | ||
| Q4 24 | — | 0.56× | ||
| Q3 24 | — | 0.52× | ||
| Q2 24 | — | 0.58× | ||
| Q1 24 | — | 0.55× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $369.3M | $1.5B |
| 自由现金流经营现金流 - 资本支出 | $324.5M | — |
| 自由现金流率自由现金流/营收 | 15.8% | — |
| 资本支出强度资本支出/营收 | 2.2% | — |
| 现金转化率经营现金流/净利润 | 1.74× | — |
| 过去12个月自由现金流最近4个季度 | $762.5M | — |
8季度趋势，按日历期对齐
经营现金流FAFFNF
| Q4 25 | $369.3M | $1.5B | ||
| Q3 25 | $272.5M | $1.3B | ||
| Q2 25 | $361.8M | $1.9B | ||
| Q1 25 | $-52.8M | $1.1B | ||
| Q4 24 | $324.6M | $1.5B | ||
| Q3 24 | $236.9M | $2.4B | ||
| Q2 24 | $266.7M | $1.4B | ||
| Q1 24 | $69.3M | $1.6B |
自由现金流FAFFNF
| Q4 25 | $324.5M | — | ||
| Q3 25 | $223.1M | — | ||
| Q2 25 | $309.4M | — | ||
| Q1 25 | $-94.5M | — | ||
| Q4 24 | $266.2M | — | ||
| Q3 24 | $185.4M | — | ||
| Q2 24 | $210.0M | — | ||
| Q1 24 | $17.6M | — |
自由现金流率FAFFNF
| Q4 25 | 15.8% | — | ||
| Q3 25 | 11.3% | — | ||
| Q2 25 | 16.8% | — | ||
| Q1 25 | -6.0% | — | ||
| Q4 24 | 15.8% | — | ||
| Q3 24 | 13.2% | — | ||
| Q2 24 | 13.0% | — | ||
| Q1 24 | 1.2% | — |
资本支出强度FAFFNF
| Q4 25 | 2.2% | — | ||
| Q3 25 | 2.5% | — | ||
| Q2 25 | 2.8% | — | ||
| Q1 25 | 2.6% | — | ||
| Q4 24 | 3.5% | — | ||
| Q3 24 | 3.7% | — | ||
| Q2 24 | 3.5% | — | ||
| Q1 24 | 3.6% | — |
现金转化率FAFFNF
| Q4 25 | 1.74× | — | ||
| Q3 25 | 1.44× | 3.66× | ||
| Q2 25 | 2.48× | 6.82× | ||
| Q1 25 | -0.71× | 13.43× | ||
| Q4 24 | 4.48× | 3.32× | ||
| Q3 24 | — | 8.89× | ||
| Q2 24 | 2.30× | 4.45× | ||
| Q1 24 | 1.48× | 6.42× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
FAF
| Title Insurance And Services | $1.9B | 94% |
| Home Warranty | $110.3M | 5% |
FNF
| Escrow Fees | $241.0M | 44% |
| Other Title Related Fees And Income | $182.0M | 33% |
| Service Link Excluding Title Premiums Escrow Fees And Subservicing Fees | $87.0M | 16% |
| Insurance Contracts Home Warranty | $31.0M | 6% |
