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Financial statements

FAIRFAX FINANCIAL HOLDINGS LTD/ CAN financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data FAIRFAX FINANCIAL HOLDINGS LTD/ CAN files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

FY2017FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue9,30016,22517,75821,53319,79526,46828,050
Cost of revenue1,0951,8212,6533,4742,9982,9883,3494,0604,1465,194
Gross profit8,20414,40315,10518,05916,79723,48024,701
General and administrative4064714973475174672,0712,9883,1873,607
Operating income1,0731721,3441,2846181,6064,1455,7076,6836,105
Pre-tax income-5542,0238622,2332444,3934,9045,9085,6396,440
Income tax-16040844.22622077261,0938131,3761,157
Net income to minority interests118-126442-32.9-181266438713388511
Net income-5131,7413762,0042183,4013,3744,3823,8754,772
EPS, basic-73.04201.6036.34219.9119.91390.67140.83186.87173.41230.07
EPS, diluted-73.04196.2935.19210.8119.00369.28131.37173.24160.56213.78

Balance sheet

FY2017FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash and equivalents4,6508,7705,1143,8634,46711,6856,1205,1216,1136,243
Property, plant and equipment8921,2501,2431,6881,746
Lease right-of-use assets1,0511,0211,008760769
Goodwill1,6342,9052,7032,9973,1263,0852,9283,1224,1254,230
Intangible assets2,2143,1682,9743,1973,1032,8432,7623,2544,1534,109
Total assets43,38464,09064,37270,50974,05486,64578,81991,98596,777107,788
Accounts payable1,9462,4492,0442,4642,6892,7162,9113,5573,9464,321
Total liabilities31,56445,67847,00752,60156,52765,33055,80064,28468,42876,914
Total debt4,7686,4146,4807,2338,8147,7538,6259,72411,75413,643
Shareholders' equity9,82013,81113,11514,37813,85716,38519,11622,95124,06826,514
Minority interests2,0004,6014,2503,5293,6714,9303,9034,7504,2814,360
Total equity11,82018,41217,36517,90717,52721,47623,01927,70128,34930,874
Total liabilities and equity43,38464,09064,37270,50974,05486,64578,81991,98596,777107,788

Cash flow statement

FY2017FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Net income-3951,6158181,97137.43,6673,8125,0954,2635,284
Cash from operations1,2582,734-1,9241,3551406,641-4,420-39.43,9942,419
Cash from investing-1,670-928-629-1,204-46.81,83938592-1,323-524
Share buybacks64.2-141-214-104-138-133-148-89.6-240-189
Dividends paid-317-295-295-412-368
Cash from financing1,5431,762-676-837437-1,189-1,295-1,067-1,564-1,825
Exchange rate effect-37.7148-16912.473.9-72-23616.3-11659.7
Interest paid216278286377370367361428509677

Key metrics

Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $17.78 on September 25, 2026.

Profitability

MetricValueHow it is calculated
Effective tax rate18.0%Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)18.9%Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)4.7%Net income / average total assets.
Return on invested capital (ROIC)15.7%Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.

Growth

MetricValueHow it is calculated
Operating income growth, 1y-8.7%Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y13.8%Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y58.1%Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y23.2%Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y12.3%Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y85.3%Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y33.1%EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y17.6%Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y62.3%Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y-39.4%Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 5y76.9%Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y10.2%Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y11.5%Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y13.9%Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y11.4%Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y11.0%Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y7.8%Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.

Balance sheet health

MetricValueHow it is calculated
Debt / equity0.51xTotal debt / shareholders' equity. Not shown when equity is negative.
Debt / assets12.7%Total debt / total assets.
Liabilities / assets71.4%Total liabilities / total assets.
Net debt$7.40BTotal debt - cash - short-term investments. Negative means more cash than debt.
Goodwill and intangibles / assets7.7%(Goodwill + intangible assets) / total assets.
Tangible book value$18.17BShareholders' equity - goodwill - intangible assets.

Efficiency

MetricValueHow it is calculated
Days payables290 days365 x average accounts payable / cost of revenue.

Per share

MetricValueHow it is calculated
EPS, diluted$213.78Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic$230.07Net income per basic share, as reported (split-adjusted).
Payout ratio7.7%Dividends paid / net income, when net income is positive.

Valuation

MetricValueHow it is calculated
Market cap$465.5MShare price x shares outstanding.
Enterprise value$7.87BMarket cap + total debt - cash - short-term investments.
P/E0.10xMarket cap / net income. Only when net income is positive.
P/B0.02xMarket cap / shareholders' equity. Only when equity is positive.
Price / tangible book0.03xMarket cap / tangible book value, when positive.
P/OCF0.19xMarket cap / cash from operations, when positive.
EV/EBIT1.29xEnterprise value / operating income, when both are positive.
Earnings yield1,025.0%Net income / market cap (the inverse of P/E).
Dividend yield79.1%Dividends paid over the period / market cap.
Shareholder yield119.7%(Dividends paid + share buybacks) / market cap.
PEG0.01xP/E / EPS growth per year over 3 years (in percent). Only when both are positive.
Was FAIRFAX FINANCIAL HOLDINGS LTD/ CAN profitable in fiscal 2025?

Yes. Net income was $4.77B, a net margin of -.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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