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First American Financial Corp（FAF）与环联（TRU）财务数据对比。点击上方公司名可切换其他公司
First American Financial Corp的季度营收约是环联的1.6倍（$2.0B vs $1.2B），First American Financial Corp净利率更高（10.3% vs 9.6%，领先0.7%），First American Financial Corp同比增速更快（21.6% vs 13.7%），过去两年First American Financial Corp的营收复合增速更高（19.9% vs 9.4%）
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。
环联是美国知名消费者信用报告机构，与益博睿、艾奎法克斯并列美国三大征信机构，总部位于伊利诺伊州芝加哥。目前其业务覆盖30余个国家，累计收集超10亿消费者的信用信息，持有美国几乎所有有信用记录消费者的超2亿份档案，服务超6.5万家企业客户，2014年营收达13亿美元。
FAF vs TRU — 直观对比
营收规模更大
FAF
是对方的1.6倍
$1.2B
营收增速更快
FAF
高出7.9%
13.7%
净利率更高
FAF
高出0.7%
9.6%
两年增速更快
FAF
近两年复合增速
9.4%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.0B | $1.2B |
| 净利润 | $211.9M | $120.0M |
| 毛利率 | — | — |
| 营业利润率 | 14.0% | 19.7% |
| 净利率 | 10.3% | 9.6% |
| 营收同比 | 21.6% | 13.7% |
| 净利润同比 | 192.7% | -4.0% |
| 每股收益（稀释后） | $2.04 | $0.61 |
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FAFTRU
| Q1 26 | — | $1.2B | ||
| Q4 25 | $2.0B | $1.2B | ||
| Q3 25 | $2.0B | $1.2B | ||
| Q2 25 | $1.8B | $1.1B | ||
| Q1 25 | $1.6B | $1.1B | ||
| Q4 24 | $1.7B | $1.0B | ||
| Q3 24 | $1.4B | $1.1B | ||
| Q2 24 | $1.6B | $1.0B |
净利润FAFTRU
| Q1 26 | — | $120.0M | ||
| Q4 25 | $211.9M | $101.1M | ||
| Q3 25 | $189.6M | $96.6M | ||
| Q2 25 | $146.1M | $109.6M | ||
| Q1 25 | $74.2M | $148.1M | ||
| Q4 24 | $72.4M | $66.3M | ||
| Q3 24 | $-104.0M | $68.0M | ||
| Q2 24 | $116.0M | $85.0M |
营业利润率FAFTRU
| Q1 26 | — | 19.7% | ||
| Q4 25 | 14.0% | 17.4% | ||
| Q3 25 | 12.5% | 17.8% | ||
| Q2 25 | 10.6% | 16.9% | ||
| Q1 25 | 6.1% | 23.2% | ||
| Q4 24 | 5.9% | 16.5% | ||
| Q3 24 | -10.3% | 14.4% | ||
| Q2 24 | 9.4% | 17.5% |
净利率FAFTRU
| Q1 26 | — | 9.6% | ||
| Q4 25 | 10.3% | 8.6% | ||
| Q3 25 | 9.6% | 8.3% | ||
| Q2 25 | 7.9% | 9.6% | ||
| Q1 25 | 4.7% | 13.5% | ||
| Q4 24 | 4.3% | 6.4% | ||
| Q3 24 | -7.4% | 6.3% | ||
| Q2 24 | 7.2% | 8.2% |
每股收益（稀释后）FAFTRU
| Q1 26 | — | $0.61 | ||
| Q4 25 | $2.04 | $0.52 | ||
| Q3 25 | $1.84 | $0.49 | ||
| Q2 25 | $1.41 | $0.56 | ||
| Q1 25 | $0.71 | $0.75 | ||
| Q4 24 | $0.70 | $0.33 | ||
| Q3 24 | $-1.00 | $0.35 | ||
| Q2 24 | $1.11 | $0.44 |
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 | $732.5M |
| 总债务越低越好 | — | $5.6B |
| 股东权益账面价值 | $5.5B | $4.9B |
| 总资产 | $16.2B | $12.0B |
| 负债/权益比越低杠杆越低 | — | 1.14× |
8季度趋势，按日历期对齐
现金及短期投资FAFTRU
| Q1 26 | — | $732.5M | ||
| Q4 25 | $1.4B | $856.3M | ||
| Q3 25 | $2.9B | $752.5M | ||
| Q2 25 | $2.0B | $690.0M | ||
| Q1 25 | $2.0B | $612.5M | ||
| Q4 24 | $1.7B | $682.0M | ||
| Q3 24 | $3.0B | $646.0M | ||
| Q2 24 | $2.0B | $545.8M |
总债务FAFTRU
| Q1 26 | — | $5.6B | ||
| Q4 25 | — | $4.9B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $5.1B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益FAFTRU
| Q1 26 | — | $4.9B | ||
| Q4 25 | $5.5B | $4.4B | ||
| Q3 25 | $5.3B | $4.5B | ||
| Q2 25 | $5.1B | $4.5B | ||
| Q1 25 | $5.0B | $4.4B | ||
| Q4 24 | $4.9B | $4.2B | ||
| Q3 24 | $5.1B | $4.2B | ||
| Q2 24 | $4.8B | $4.1B |
总资产FAFTRU
| Q1 26 | — | $12.0B | ||
| Q4 25 | $16.2B | $11.1B | ||
| Q3 25 | $17.6B | $11.1B | ||
| Q2 25 | $16.3B | $11.1B | ||
| Q1 25 | $15.5B | $10.9B | ||
| Q4 24 | $14.9B | $11.0B | ||
| Q3 24 | $16.6B | $11.1B | ||
| Q2 24 | $15.2B | $11.0B |
负债/权益比FAFTRU
| Q1 26 | — | 1.14× | ||
| Q4 25 | — | 1.11× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.20× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — |
| 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% | 5.2% |
| 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FAFTRU
| Q1 26 | — | — | ||
| Q4 25 | $369.3M | $319.5M | ||
| Q3 25 | $272.5M | $324.3M | ||
| Q2 25 | $361.8M | $291.3M | ||
| Q1 25 | $-52.8M | $52.5M | ||
| Q4 24 | $324.6M | $254.0M | ||
| Q3 24 | $236.9M | $229.3M | ||
| Q2 24 | $266.7M | $295.2M |
自由现金流FAFTRU
| Q1 26 | — | — | ||
| Q4 25 | $324.5M | $222.8M | ||
| Q3 25 | $223.1M | $240.4M | ||
| Q2 25 | $309.4M | $214.3M | ||
| Q1 25 | $-94.5M | $-15.9M | ||
| Q4 24 | $266.2M | $136.9M | ||
| Q3 24 | $185.4M | $161.3M | ||
| Q2 24 | $210.0M | $226.9M |
自由现金流率FAFTRU
| Q1 26 | — | — | ||
| Q4 25 | 15.8% | 19.0% | ||
| Q3 25 | 11.3% | 20.6% | ||
| Q2 25 | 16.8% | 18.8% | ||
| Q1 25 | -6.0% | -1.5% | ||
| Q4 24 | 15.8% | 13.2% | ||
| Q3 24 | 13.2% | 14.9% | ||
| Q2 24 | 13.0% | 21.8% |
资本支出强度FAFTRU
| Q1 26 | — | 5.2% | ||
| Q4 25 | 2.2% | 8.3% | ||
| Q3 25 | 2.5% | 7.2% | ||
| Q2 25 | 2.8% | 6.8% | ||
| Q1 25 | 2.6% | 6.2% | ||
| Q4 24 | 3.5% | 11.3% | ||
| Q3 24 | 3.7% | 6.3% | ||
| Q2 24 | 3.5% | 6.6% |
现金转化率FAFTRU
| Q1 26 | — | — | ||
| Q4 25 | 1.74× | 3.16× | ||
| Q3 25 | 1.44× | 3.36× | ||
| Q2 25 | 2.48× | 2.66× | ||
| Q1 25 | -0.71× | 0.35× | ||
| Q4 24 | 4.48× | 3.83× | ||
| Q3 24 | — | 3.37× | ||
| Q2 24 | 2.30× | 3.47× |
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% |
TRU
| U.S. Markets | $975.0M | 78% |
| International | $274.0M | 22% |
