FAF // First American Corporation (New)

DES <GO> NYSE CIK 0001472787 ↗

Financials • Specialty Insurers

$63.72 ▲ +0.17 (+0.27%)

MKT CAP: $6.51B • VOL: 1.30M

52W L $56 52W H $80

ALTMAN Z

1.52 RISK

PIOTROSKI

9 / 9

FAF // ROARABLE RATING & 5-PILLAR RQD CONFIDENCE 02:00 EST DETERMINISTIC ENGINE

PRIOR: RQD 63/100 [C] (+0 PT) • UNCHANGED AS OF 2026-11-01

ROARABLE C

RQD CONFIDENCE

63 / 100 +0D

5 X 20-PT QUANT PILLARS

E 0 D 35 C 59 B 70 A 86+

Roarable Hold — Fair / Balanced Risk-Reward

01 MASSIVE / SEC XBRL

Forensic Fundamentals

12 / 20

NEUTRAL

FCF -1% vs NI +200% • ROIC-WACC -1.7% • Z 1.52

02 OPRA GEX + SEC 13F

Whale & Options Flow

[LOCKED] FLAGGED

UNLOCK BELOW TO REVEAL

03 SEC FORM 4 (90D)

Insider Conviction

[LOCKED] FLAGGED

UNLOCK BELOW TO REVEAL

04 FRED 90D r-MATRIX

Macro Regime Fit

13 / 20

SOLID

TAILWIND • r(10Y)=+0.00 (+23bp) • r(OAS)=+0.00

05 10-K REDLINE AUDIT

Forensic 10-K Risk

16 / 20

STRONG

20 BASE - 4 DEDUCT • 0 CRIT / 0 MED • STABLE

ALERT

Why did FAF's Whale & Options Flow & Insider Conviction sub-score just flash a warning? Enter your email to unlock the full 5-Pillar Rating Breakdown + get instant alerts whenever FAF is Upgraded or Downgraded.

SIG <GO> CROSS-FEED TRIANGULATION // PROPRIETARY ANOMALY ENGINE (1 ACTIVE ON FAF)

STAGE 2 DETERMINISTIC Z-SCORE + STAGE 3 GEEK DESK BRIEF ALL MARKET ANOMALIES <SIG>

▼ BEARISH // F-RATED EARNINGS MIRAGE // ACCRUAL WATCHSIFTER 02 // ACCRUAL & RECEIVABLES FORENSICS

SEVERITY: 91/100 Z-SCORE: +3.19σ

FAF Accounting Gap: Net Income (+220%) Outpaced OCF (+5.9%) With +0.5% Working-Capital Build

CASH CONVERSION GAP

+214.1% (NI vs OCF)

RECEIVABLES / WC BLOAT

+0.5% VS REV

60D C-SUITE FORM 4 SALES

0 OPEN-MKT DUMPS

[GEEK DESK FORENSIC NOTE // SEC XBRL × FORM 4 CROSS-CHECK]

SEC EDGAR XBRL CompanyFacts10-K/10-Q Working Capital ScheduleSEC Form 4 Executive Sales

SEC EDGAR XBRL triangulation on First American Corporation (New) (FAF) exposes a +214.1% Cash Conversion Gap as YoY Net Income growth (+220.0%) diverged from Operating Cash Flow growth (+5.9%). Non-cash current assets and receivables expanded +0.5% relative to top-line revenue growth. Monitor upcoming 10-Q cash realization closely for accrual mean-reversion.

FAF // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: -9.00%▼ DESCENDING CHANNEL

2026-10-30O $64.09H $64.09L $63.03C $63.82VOL 1.07M

RES: $72.33SUP: $56.35SMA50: $67.54SMA200: $67.42

FAF // INSTITUTIONAL BULL VS. BEAR FORENSIC DEBATE

NEUTRAL / PAIR TRADE CONVICTION: 54/100

BEAR 0

100 BULL

First American Corporation (New) (FAF) exhibits 41.0% gross margins and 7.0% return on invested capital within Financials (Specialty Insurers), balanced against a 9.2x enterprise multiple and 6.8% implied options volatility.

▲ INSTITUTIONAL BULL THESIS (LONG)

01. Operating Leverage & Capital Efficiency Moat

Sustained 41.0% gross profitability converts into 10.2% operating margin and 7.0% ROIC, outpacing sector cost of capital.

ROIC: 7.0% // GM: 41.0%

02. Top-Line Expansion & Cash Conversion

YoY revenue trajectory of +21.6% paired with 9.46% free cash flow yield supports self-funded R&D and capital return.

REV YOY: +21.6% // FCF YLD: 9.46%

03. Balance Sheet Solvency & Forensic Quality

Altman Z-Score of 1.52 and Piotroski F-Score of 9/9 indicate low near-term refinancing stress.

ALTMAN Z: 1.52 // F-SCORE: 9/9

▼ INSTITUTIONAL BEAR THESIS (SHORT / RISK)

01. Multiple Compression & Duration Sensitivity

Trading at 10.5x trailing P/E (8.8x Fwd P/E) leaves valuation vulnerable if real 10Y TIPS yields spike.

P/E: 10.5x // EV/EBITDA: 9.2x

02. Options Skew & Event Volatility Risk

Options market prices a ±6.8% implied move with a 0.79 put/call ratio around $62.00 max pain.

IMPL MOVE: ±6.8% // P/C: 0.79

03. Competitive Margin & CapEx Cycle Pressure

Elevated industry capital intensity and customer concentration in Specialty Insurers require continuous execution to defend 8.3% net margins.

NET MARGIN: 8.3% // D/E: 0.82x

KEY CATALYST // Upcoming 10-Q/10-K XBRL margin progression, guidance revision vs 8.8x forward consensus, and institutional 13F positioning.

MACRO REGIME // Monitor US 10Y Real Yields (DFII10) and High-Yield Credit Spreads (OAS) for beta-adjusted multiple impact (Beta 0.97).

FORM 4 & 13F FLOW OPEN OWN <GO>

FILER	SIDE	$ VALUE
INSPECT FULL OWNERSHIP LEDGER IN OWN <GO>

UNUSUAL OPTIONS TAPE OPEN OPT <GO>

STRIKE / EXP	TYPE	PREMIUM
INSPECT GEX & CHAIN IN OPT <GO>

KEY VALUATION & PROFITABILITY RATIOS XBRL FA <GO>

TRAILING P/E 10.5x

FORWARD P/E 8.8x

EV / EBITDA 9.2x

FCF YIELD 9.46%

GROSS MARGIN 41.0%

OPERATING MARGIN 10.2%

NET MARGIN 8.3%

ROIC % 7.0%

REV GROWTH YOY +21.6%

DILUTED EPS TTM $6.09

DEBT / EQUITY 0.82x

DIVIDEND YIELD 3.43%

RSI-14 MOMENTUM 44.8

5Y EQUITY BETA 0.97

FRED MACRO SENSITIVITY (PEARSON r) ECST <GO>

MACRO CORRELATION CALIBRATION ACTIVE BELOW.

FRED MACRO REGIME STRESS-TEST SIMULATOR // FAFPEARSON R VARIANCE ENGINE

01 // SELECT FEDERAL RESERVE & CREDIT SHOCK SCENARIO

02 // POSITION NOTIONAL EXPOSURE

HEADLINE STRESS SCORE

75/100SEVERE DRAWDOWN PRESSURE

PRIMARY FACTOR EXPOSURE

DFII10 // -0.61 r

Latest: 2.08%

EST. DIRECTIONAL MOVE

-8.50%

Implied Px: $58.31

EST. DOLLAR VARIANCE

-$4,248

On $50,000 Notional

[LOCKED // MULTI-FACTOR DRAWDOWN HEDGE & MACRO TRIGGER ALERT]

Unblur the exact $50,000 delta-adjusted ETF/options hedge ratio for FAF & activate live FRED threshold breach alerts.

HEAD-TO-HEAD PEER COMPARISONS COMP <GO>

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MARGINS ROIC VALUATION