Fairfax Finl Financials

FRFHF

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Fairfax Finl (FRFHF) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 10 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Piotroski F-Score Weak

3/9

Fairfax Finl passes 3 of 9 financial strength tests. 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).

Earnings Quality Low Quality

0.46x

For every $1 of reported earnings, Fairfax Finl generates $0.46 in operating cash flow ($2.4B OCF vs $5.3B net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Revenue

N/A

EBITDA

N/A

Net Income

$5.3B

YoY+23.9%

5Y CAGR+169.2%

Fairfax Finl reported $5.3B in net income in fiscal year 2025. This represents an increase of 23.9% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$6.2B

YoY+2.1%

5Y CAGR+6.9%

Fairfax Finl held $6.2B in cash against $13.6B in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

N/A

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

17.1%

YoY+2.1pp

5Y CAGR+16.9pp

Fairfax Finl's ROE was 17.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 2.1 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

FRFHF Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	N/A	N/A	N/A	$28.1B+6.0%	$26.5B+33.7%	$19.8B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	$46.9M-19.0%	$57.9M-7.8%	$62.8M
Income Tax	$1.2B-15.9%	$1.4B+69.1%	$813.4M-25.5%	$1.1B+50.5%	$726.0M+251.2%	$206.7M
Net Income	$5.3B+23.9%	$4.3B-16.3%	$5.1B+33.7%	$3.8B+4.0%	$3.7B+9703.7%	$37.4M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

FRFHF Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$107.8B+11.4%	$96.8B+5.2%	$92.0B+16.7%	$78.8B-9.0%	$86.6B+17.0%	$74.1B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$6.2B+2.1%	$6.1B+19.4%	$5.1B-16.3%	$6.1B-47.6%	$11.7B+161.6%	$4.5B
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$4.2B+2.6%	$4.1B+32.1%	$3.1B+6.6%	$2.9B-5.1%	$3.1B-1.3%	$3.1B
Total Liabilities	$76.9B+12.4%	$68.4B+6.4%	$64.3B+15.2%	$55.8B-14.6%	$65.3B+15.6%	$56.5B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$13.6B+16.1%	$11.8B+20.9%	$9.7B+12.7%	$8.6B+11.2%	$7.8B-12.0%	$8.8B
Total Equity	$30.9B+8.9%	$28.3B+2.3%	$27.7B+20.3%	$23.0B+7.2%	$21.5B+22.5%	$17.5B
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18
Total Assets	$107.8B+11.4%	$96.8B+5.2%	$92.0B+16.7%	$78.8B-9.0%	$86.6B+17.0%	$74.1B+5.0%	$70.5B+9.5%	$64.4B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$6.2B+2.1%	$6.1B+19.4%	$5.1B-16.3%	$6.1B-47.6%	$11.7B+161.6%	$4.5B+15.6%	$3.9B-24.5%	$5.1B
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$4.2B+2.6%	$4.1B+32.1%	$3.1B+6.6%	$2.9B-5.1%	$3.1B-1.3%	$3.1B+4.3%	$3.0B+10.9%	$2.7B
Total Liabilities	$76.9B+12.4%	$68.4B+6.4%	$64.3B+15.2%	$55.8B-14.6%	$65.3B+15.6%	$56.5B+7.5%	$52.6B+11.9%	$47.0B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$13.6B+16.1%	$11.8B+20.9%	$9.7B+12.7%	$8.6B+11.2%	$7.8B-12.0%	$8.8B+21.9%	$7.2B+11.6%	$6.5B
Total Equity	$30.9B+8.9%	$28.3B+2.3%	$27.7B+20.3%	$23.0B+7.2%	$21.5B+22.5%	$17.5B-2.1%	$17.9B+3.1%	$17.4B
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

FRFHF Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$2.4B-39.4%	$4.0B+10236.8%	-$39.4M+99.1%	-$4.4B-166.6%	$6.6B+4650.4%	$139.8M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$523.8M+60.4%	-$1.3B-1538.2%	$92.0M-76.1%	$384.8M-79.1%	$1.8B+4028.6%	-$46.8M
Financing Cash Flow	-$1.8B-16.7%	-$1.6B-46.5%	-$1.1B+17.6%	-$1.3B-8.9%	-$1.2B-372.2%	$436.9M
Dividends Paid	$368.1M-10.6%	$411.7M+39.6%	$294.9M-0.1%	$295.1M-6.8%	$316.6M	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

FRFHF Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	13.6%-0.3pp	13.9%+13.7pp	0.2%
Return on Equity	17.1%+2.1pp	15.0%-3.4pp	18.4%+1.8pp	16.6%-0.5pp	17.1%+16.9pp	0.2%
Return on Assets	4.9%+0.5pp	4.4%-1.1pp	5.5%+0.7pp	4.8%+0.6pp	4.2%+4.2pp	0.1%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.44+0.0	0.41+0.1	0.35-0.0	0.37+0.0	0.36-0.1	0.50
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.44+0.0	0.41+0.1	0.35-0.0	0.37+0.0	0.36-0.1	0.50+0.1	0.40+0.0	0.37
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Frequently Asked Questions

Is Fairfax Finl profitable?

Yes, Fairfax Finl (FRFHF) reported a net income of $5.3B in fiscal year 2025.

How much debt does Fairfax Finl have?

As of fiscal year 2025, Fairfax Finl (FRFHF) had $6.2B in cash and equivalents against $13.6B in long-term debt.

What is Fairfax Finl's return on equity (ROE)?

Fairfax Finl (FRFHF) has a return on equity of 17.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Fairfax Finl's operating cash flow?

Fairfax Finl (FRFHF) generated $2.4B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Fairfax Finl's total assets?

Fairfax Finl (FRFHF) had $107.8B in total assets as of fiscal year 2025, including both current and long-term assets.

What is Fairfax Finl's debt-to-equity ratio?

Fairfax Finl (FRFHF) had a debt-to-equity ratio of 0.44 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Fairfax Finl's return on assets (ROA)?

Fairfax Finl (FRFHF) had a return on assets of 4.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Fairfax Finl's Piotroski F-Score?

Fairfax Finl (FRFHF) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Fairfax Finl's earnings high quality?

Fairfax Finl (FRFHF) has an earnings quality ratio of 0.46x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.