FAIRFAX FINCL HLDG S/VTG (FRFHF) Financials

FRFHF

FY2025 annual

Revenue Not reported for FY2025

Net Income $5.3B +23.9% YoY

EPS (Diluted) Not reported for FY2025

Operating Cash Flow $2.4B -39.4% YoY

Source SEC Filings (10-K/10-Q) Latest period FY2025, ended Dec 31, 2025 Reported Mar 6, 2026 Currency USD FYE December

Newest figures come from the 10-K for FY2025, filed Mar 6, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the FRFHF SEC filings page.

This page shows FAIRFAX FINCL HLDG S/VTG (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).

Rhea AI FRFHF FY2025 2026-09-05

Rising profitability is paired with weaker cash conversion and a more leveraged balance sheet, making financing structure central to earnings interpretation.

The relationship between earnings and cash weakened: operating cash flow represented roughly 0.5x of net income in FY2025 versus 0.9x in FY2024. That divergence means the latest profit increase was not matched by operating cash production, so earnings quality depends more heavily on non-cash or working-capital effects than the income statement alone reveals.

Total assets expanded 24.5% between FY2021 and FY2025, while total liabilities grew 17.7%; the business added balance-sheet capacity without liabilities rising one-for-one. Even so, debt-to-equity increased from 0.36x to 0.44x, indicating that leverage became a larger part of the financing mix.

FY2025 return on equity reached 17.1% even as interest expense rose 60.0% from FY2021. The improved shareholder return therefore coexisted with a heavier financing burden rather than being explained by lower borrowing costs.

Financial Health Signals

Financial health score not available

FAIRFAX FINCL HLDG S/VTG does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial

3/5

FAIRFAX FINCL HLDG S/VTG passes 3 of 5 computable financial strength tests (4 of the nine could not be computed from available data). 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 FINCL HLDG S/VTG 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

None of these metrics is reported for Q4 2025.

Cash & Balance Sheet

Cash & Debt

$6.2B

YoY+2.1%

QoQ+2.1%

FAIRFAX FINCL HLDG S/VTG held $6.2B in cash against $13.6B in long-term debt as of Q4 2025.

Free Cash Flow

Not reported for Q4 2025.

Dividends Per Share

Not reported for Q4 2025.

Shares Outstanding

Not reported for Q4 2025.

Margins & Returns

None of these metrics is reported for Q4 2025.

Capital Allocation

None of these metrics is reported for Q4 2025.

FRFHF Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

FRFHF quarterly income statement

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K
Revenue	N/A	N/A	N/A	$28.1B+6.0%	$26.5B+33.7%	$19.8B-8.1%	$21.5B+21.3%	$17.8B+9.4%	$16.2B+74.5%	$9.3B
Interest Expense	$821.9M+26.6%	$649.0M+27.3%	$510.0M+12.6%	$452.8M-11.9%	$513.9M+8.0%	$475.9M+0.8%	$472.0M+36.0%	$347.1M+4.8%	$331.2M+36.4%	$242.8M
Income Tax	$1.2B-15.9%	$1.4B+69.1%	$813.4M-25.5%	$1.1B+50.5%	$726.0M+251.2%	$206.7M-21.0%	$261.5M+491.6%	$44.2M-89.2%	$408.3M+355.8%	-$159.6M
Net Income	$5.3B+23.9%	$4.3B-16.3%	$5.1B+33.7%	$3.8B+4.0%	$3.7B+9703.7%	$37.4M-98.1%	$2.0B+141.0%	$817.9M-49.4%	$1.6B+509.1%	-$394.7M
Diluted Shares (Avg)	23M-4.5%	24M-3.4%	25M-1.3%	25M-7.7%	27M-0.9%	28M-1.2%	28M-1.2%	28M+8.8%	26M+13.4%	23M

Metric	Q4'2510-K	Q4'2410-K	Q4'2310-K	Q4'2210-K	Q4'2110-K	Q4'2010-K	Q4'1910-K	Q4'1810-K

Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, Income Tax, Net Income, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).

FRFHF Balance Sheet

FRFHF quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K
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+0.4%	$64.1B+47.7%	$43.4B
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-41.7%	$8.8B+88.6%	$4.6B
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-7.0%	$2.9B+77.8%	$1.6B
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+2.9%	$45.7B+44.7%	$31.6B
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+1.0%	$6.4B+34.5%	$4.8B
Total Equity	$30.9B+8.9%	$28.3B+2.3%	$27.7B+20.3%	$23.0B+7.2%	$21.5B+22.5%	$17.5B-2.1%	$17.9B+3.1%	$17.4B-5.7%	$18.4B+55.8%	$11.8B

Metric	Q4'2510-K	Q4'2410-K	Q4'2310-K	Q4'2210-K	Q4'2110-K	Q4'2010-K	Q4'1910-K	Q4'1810-K
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+0.4%
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-41.7%
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-7.0%
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+2.9%
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+1.0%
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-5.7%

Not reported in any period shown, so not listed: Current Assets, Short-Term Investments, Inventory, Accounts Receivable, Long-Term Investments, Current Liabilities, Non-Current Liabilities, Retained Earnings.

FRFHF Cash Flow Statement

FRFHF quarterly cash flow statement

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K
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-89.7%	$1.4B+170.4%	-$1.9B-170.4%	$2.7B+117.3%	$1.3B
Depreciation & Amortization	N/A	N/A	N/A	$683.6M-26.5%	$930.4M+23.7%	$752.1M+15.6%	$650.8M+85.5%	$350.9M+25.1%	$280.5M+46.3%	$191.7M
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+96.1%	-$1.2B-91.5%	-$628.6M+32.2%	-$927.7M+44.5%	-$1.7B
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+152.2%	-$837.4M-23.9%	-$676.1M-138.4%	$1.8B+14.1%	$1.5B
Dividends Paid	$368.1M-10.6%	$411.7M+39.6%	$294.9M-0.1%	$295.1M-6.8%	$316.6M	N/A	N/A	N/A	N/A	N/A

Metric	Q4'2510-K	Q4'2410-K	Q4'2310-K	Q4'2210-K	Q4'2110-K	Q4'2010-K	Q4'1910-K	Q4'1810-K

Not reported in any period shown, so not listed: Operating Cash Flow, Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.

FRFHF Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

FRFHF quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K
Net Margin	N/A	N/A	N/A	13.6%-0.3pp	13.9%+13.7pp	0.2%-9.0pp	9.2%+4.5pp	4.6%-5.3pp	10.0%+14.2pp	-4.2%
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%-10.8pp	11.0%+6.3pp	4.7%-4.1pp	8.8%+12.1pp	-3.3%
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%-2.8pp	2.8%+1.5pp	1.3%-1.3pp	2.5%+3.4pp	-0.9%
Debt-to-Equity	0.440.0x	0.41+0.1x	0.350.0x	0.370.0x	0.36-0.1x	0.50+0.1x	0.400.0x	0.370.0x	0.35-0.1x	0.40
Asset Turnover	N/A	N/A	N/A	0.36+0.1x	0.310.0x	0.270.0x	0.310.0x	0.280.0x	0.250.0x	0.21

Metric	Q4'2510-K	Q4'2410-K	Q4'2310-K	Q4'2210-K	Q4'2110-K	Q4'2010-K	Q4'1910-K	Q4'1810-K
Debt-to-Equity	0.440.0x	0.41+0.1x	0.350.0x	0.370.0x	0.36-0.1x	0.50+0.1x	0.400.0x	0.370.0x

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Return on Assets, Current Ratio, Asset Turnover, FCF Margin.

Where FAIRFAX FINCL HLDG S/VTG Ranks

Frequently Asked Questions

Is FAIRFAX FINCL HLDG S/VTG profitable?

Yes, FAIRFAX FINCL HLDG S/VTG (FRFHF) reported a net income of $5.3B in fiscal year 2025.

How much debt does FAIRFAX FINCL HLDG S/VTG have?

As of fiscal year 2025, FAIRFAX FINCL HLDG S/VTG (FRFHF) had $6.2B in cash and equivalents against $13.6B in long-term debt.

What is FAIRFAX FINCL HLDG S/VTG's return on equity (ROE)?

FAIRFAX FINCL HLDG S/VTG (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 FINCL HLDG S/VTG's operating cash flow?

FAIRFAX FINCL HLDG S/VTG (FRFHF) generated $2.4B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are FAIRFAX FINCL HLDG S/VTG's total assets?

FAIRFAX FINCL HLDG S/VTG (FRFHF) had $107.8B in total assets as of fiscal year 2025, including both current and long-term assets.

What is FAIRFAX FINCL HLDG S/VTG's debt-to-equity ratio?

FAIRFAX FINCL HLDG S/VTG (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 FINCL HLDG S/VTG's return on assets (ROA)?

FAIRFAX FINCL HLDG S/VTG (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 FINCL HLDG S/VTG's Piotroski F-Score?

FAIRFAX FINCL HLDG S/VTG (FRFHF) has a Piotroski F-Score of 3 out of 5 computable signals; 4 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are FAIRFAX FINCL HLDG S/VTG's earnings high quality?

FAIRFAX FINCL HLDG S/VTG (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.