Fairfax Fincl Holdings PFD I (FRFXF) Financials
Newest figures come from the 40-F 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 FRFXF SEC filings page.
This page shows Fairfax Fincl Holdings PFD I (FRFXF) 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 (40-F and 6-K reports).
Profit recovered in FY2025, but cash conversion weakened while debt and liabilities continued expanding faster than equity.
Operating cash flow conversion was only45.8% of net income in FY2025, down from93.7% in FY2024; paired with net income rising23.9% , this shows the earnings rebound converted less completely into cash. The gap points to weaker earnings quality than the profit figure alone suggests.
The balance sheet is becoming more debt-funded: long-term debt reached
Net income rose
Financial Health Signals
We do not publish a peer-relative financial health score for Fairfax Fincl Holdings PFD I, because the score only covers companies whose filings and listing give us what it needs to compare them with their peers. The signals and metrics below are current.
Fairfax Fincl Holdings PFD I 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).
For every $1 of reported earnings, Fairfax Fincl Holdings PFD I 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
Earnings & Revenue
Fairfax Fincl Holdings PFD I reported $5.3B in net income in fiscal year 2025. This represents an increase of 23.9% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Fairfax Fincl Holdings PFD I generated $1.8B in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 48.9% from the prior year.
Fairfax Fincl Holdings PFD I held $6.2B in cash against $13.6B in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Fairfax Fincl Holdings PFD I'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.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Capital Allocation
Fairfax Fincl Holdings PFD I invested $586.2M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 43.4% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
FRFXF 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.
| Metric | FY2540-F | FY2440-F | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 |
|---|---|---|---|---|---|---|---|---|---|---|
| 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 | N/A | N/A | N/A | $46.9M-19.0% | $57.9M-7.8% | $62.8M-7.4% | $67.8Mn/m | $0 | N/A | N/A |
| 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% | $408.3Mn/m | -$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% | $1.6Bn/m | -$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 |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, EPS (Basic), EPS (Diluted).
FRFXF Balance Sheet
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.
| Metric | FY2540-F | FY2440-F | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 |
|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
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.
FRFXF Cash Flow 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.
| Metric | FY2540-F | FY2440-F | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $2.4B-39.4% | $4.0Bn/m | -$39.4Mn/m | -$4.4B-166.6% | $6.6B+4650.4% | $139.8M-89.7% | $1.4Bn/m | -$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 |
| Capital Expenditures | $586.2M+43.4% | $408.8M | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | $1.8B-48.9% | $3.6B | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | -$523.8Mn/m | -$1.3B-1538.2% | $92.0M-76.1% | $384.8M-79.1% | $1.8Bn/m | -$46.8Mn/m | -$1.2Bn/m | -$628.6Mn/m | -$927.7Mn/m | -$1.7B |
| Financing Cash Flow | -$1.8Bn/m | -$1.6Bn/m | -$1.1Bn/m | -$1.3Bn/m | -$1.2B-372.2% | $436.9Mn/m | -$837.4Mn/m | -$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 |
Not reported in any period shown, so not listed: Stock-Based Compensation, Share Buybacks.
FRFXF 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.
| Metric | FY2540-F | FY2440-F | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 |
|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
| Liabilities-to-Equity | 2.49+0.1x | 2.41+0.1x | 2.32-0.1x | 2.42-0.6x | 3.04-0.2x | 3.23+0.3x | 2.94+0.2x | 2.71+0.2x | 2.48-0.2x | 2.67 |
| 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 |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio, FCF Margin.
Where Fairfax Fincl Holdings PFD I Ranks
Frequently Asked Questions
Yes, Fairfax Fincl Holdings PFD I (FRFXF) reported a net income of $5.3B in fiscal year 2025.
As of fiscal year 2025, Fairfax Fincl Holdings PFD I (FRFXF) had $6.2B in cash and equivalents against $13.6B in long-term debt.
Fairfax Fincl Holdings PFD I (FRFXF) has a return on equity of 17.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
Fairfax Fincl Holdings PFD I (FRFXF) generated $1.8B in free cash flow during fiscal year 2025. This represents a -48.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
Fairfax Fincl Holdings PFD I (FRFXF) generated $2.4B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
Fairfax Fincl Holdings PFD I (FRFXF) had $107.8B in total assets as of fiscal year 2025, including both current and long-term assets.
Fairfax Fincl Holdings PFD I (FRFXF) invested $586.2M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
Fairfax Fincl Holdings PFD I (FRFXF) had a debt-to-equity ratio of 0.44 as of fiscal year 2025. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.
Fairfax Fincl Holdings PFD I (FRFXF) had a liabilities-to-equity ratio of 2.49 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.
Fairfax Fincl Holdings PFD I (FRFXF) had a return on assets of 4.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Fairfax Fincl Holdings PFD I (FRFXF) 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.
Fairfax Fincl Holdings PFD I (FRFXF) 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.