Fairfax Financial Holdings Limited
Financial Statements (IFRS) · Amounts in CAD
Income Statement
Balance Sheet
Cash Flow
| Line Item | Q4 2025Dec 31, 2025 | Q3 2025Sep 30, 2025 | Q2 2025Jun 30, 2025 | Q1 2025Mar 31, 2025 | Q4 2024Dec 31, 2024 |
|---|---|---|---|---|---|
| Total Revenue | 7.7B | 7.5B | 8.0B | 7.5B | 7.7B |
| Operating Revenue | 7.7B | 7.5B | 8.0B | 7.5B | 7.7B |
| Selling General And Administration | 1.6B | 1.7B | -- | 1.8B | -- |
| General And Administrative Expense | 360.8M | 377.2M | -- | 480.2M | -- |
| Other Operating Expenses | -1.6B | -1.7B | -1.8M | -1.7B | 3.7B |
| EBIT | 2.0B | 1.8B | 2.2B | 1.4B | 1.8B |
| Interest Expense | 211.0M | 213.1M | 207.4M | 190.4M | 172.7M |
| Interest Expense Non Operating | 211.0M | 213.1M | 207.4M | 190.4M | 172.7M |
| Interest Income | 389.1M | 303.0M | 666.3M | 270.2M | 1.8B |
| Net Interest Income | -211.0M | -213.1M | -207.4M | -190.4M | -172.7M |
| Special Income Charges | -- | -- | -- | -- | 0.00 |
| Pretax Income | 1.8B | 1.6B | 2.0B | 1.2B | 1.7B |
| Tax Provision | 272.8M | 318.9M | 352.1M | 212.7M | 359.3M |
| Tax Effect Of Unusual Items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Income From Continuing And Discontinued Operation | 1.2B | 1.2B | 1.4B | 945.7M | 1.2B |
| Net Income From Continuing Operation Net Minority Interest | 1.2B | 1.2B | 1.4B | 945.7M | 1.2B |
| Net Income Including Noncontrolling Interests | 1.5B | 1.2B | 1.6B | 953.0M | 1.3B |
| Minority Interests | -244.9M | -94.0M | -165.2M | -7.3M | -165.7M |
| Net Income Common Stockholders | 1.4B | 1.2B | 1.4B | 945.7M | 1.2B |
| Net Income | 1.2B | 1.2B | 1.4B | 945.7M | 1.2B |
| Reconciled Depreciation | 159.1M | 165.5M | 167.7M | 291.5M | 217.3M |
| Basic EPS | 61.85 | 55.90 | 66.34 | 46.10 | 54.46 |
| Diluted EPS | 57.57 | 52.04 | 61.61 | 42.70 | 50.42 |
| Basic Average Shares | 21.1M | 21.5M | 21.6M | 21.7M | 21.9M |
| Diluted Average Shares | 21.5M | 22.1M | 23.3M | 22.1M | 22.9M |
| Total Unusual Items | -- | -- | -- | -- | 0.00 |
| Total Unusual Items Excluding Goodwill | -- | -- | -- | -- | 0.00 |
| Tax Rate For Calcs | 0.16 | 0.20 | 0.18 | 0.18 | 0.21 |
| Normalized Income | 1.2B | 1.2B | 1.4B | 945.7M | 1.2B |
| Diluted NI Availto Com Stockholders | 1.4B | 1.2B | 1.4B | 945.7M | 1.2B |
| Loss Adjustment Expense | 5.9B | 6.1B | 6.0B | 6.1B | 6.2B |
| Net Income Continuous Operations | 1.5B | 1.2B | 1.6B | 953.0M | 1.3B |
| Net Non Operating Interest Income Expense | -211.0M | -213.1M | -207.4M | -190.4M | -172.7M |
| Net Policyholder Benefits And Claims | 5.9B | 6.1B | 6.0B | 6.1B | 6.2B |
| Other Gand A | 360.8M | 377.2M | -- | 480.2M | -- |
| Policyholder Benefits Ceded | 974.0M | 953.0M | 1.0B | 1.2B | 1.2B |
| Policyholder Benefits Gross | 6.9B | 7.1B | 7.0B | 7.2B | 7.4B |
| Selling And Marketing Expense | 1.3B | 1.3B | -- | 1.3B | -- |
| Total Expenses | 5.9B | 6.0B | 6.1B | 6.3B | 6.0B |
| Line Item | Q4 2025Dec 31, 2025 | Q3 2025Sep 30, 2025 | Q2 2025Jun 30, 2025 | Q1 2025Mar 31, 2025 | Q4 2024Dec 31, 2024 |
|---|---|---|---|---|---|
| Cash And Cash Equivalents | 8.6B | 8.8B | 7.2B | 6.4B | 7.1B |
| Cash Cash Equivalents And Short Term Investments | 8.6B | 11.4B | 10.0B | 7.3B | 7.2B |
| Other Short Term Investments | 19.5M | 2.6B | 2.9B | 870.4M | 51.6M |
| Accounts Receivable | 1.0B | 919.2M | 797.1M | 869.1M | 780.4M |
| Receivables | 2.6B | 919.2M | 797.1M | 869.1M | 2.5B |
| Prepaid Assets | 460.8M | -- | -- | -- | 536.0M |
| Net PPE | 3.6B | -- | -- | -- | 3.6B |
| Goodwill | 4.2B | -- | -- | -- | 4.1B |
| Goodwill And Other Intangible Assets | 8.3B | 8.3B | 8.4B | 8.2B | 8.3B |
| Other Intangible Assets | 4.1B | -- | -- | -- | 4.2B |
| Investments And Advances | 62.5B | 63.1B | 62.4B | 59.7B | 56.8B |
| Long Term Equity Investment | 10.0B | 9.9B | 9.6B | 8.8B | 8.5B |
| Total Assets | 107.8B | 106.4B | 103.6B | 98.9B | 96.8B |
| Current Debt | 2.5B | -- | -- | -- | 2.1B |
| Current Debt And Capital Lease Obligation | 2.5B | -- | -- | -- | 2.1B |
| Accounts Payable | 1.6B | 6.9B | 7.2B | 7.4B | 2.1B |
| Payables | 2.4B | 6.9B | 7.2B | 7.4B | 2.7B |
| Payables And Accrued Expenses | 4.5B | 6.9B | 7.2B | 7.4B | 4.9B |
| Current Accrued Expenses | 2.1B | -- | -- | -- | 2.2B |
| Long Term Debt | 11.2B | 13.8B | 13.2B | 12.2B | 9.6B |
| Long Term Debt And Capital Lease Obligation | 12.4B | 13.8B | 13.2B | 12.2B | 10.9B |
| Long Term Capital Lease Obligation | 1.2B | -- | -- | -- | 1.3B |
| Total Liabilities Net Minority Interest | 76.9B | 75.9B | 73.6B | 70.7B | 68.4B |
| Common Stock | 5.4B | 5.5B | 5.6B | 5.6B | 5.7B |
| Capital Stock | 5.6B | 6.0B | 6.4B | 6.4B | 6.8B |
| Retained Earnings | 22.1B | 21.4B | 20.7B | 19.3B | 19.0B |
| Treasury Stock | 1.1B | 1.1B | 1.1B | 1.0B | 1.0B |
| Gains Losses Not Affecting Retained Earnings | -905.0M | -959.1M | -914.1M | -1.3B | -1.4B |
| Other Equity Adjustments | -905.0M | -959.1M | -914.1M | -1.3B | -1.4B |
| Common Stock Equity | 26.3B | 25.7B | 25.0B | 23.3B | 23.0B |
| Stockholders Equity | 26.5B | 26.2B | 25.8B | 24.1B | 24.1B |
| Total Equity Gross Minority Interest | 30.9B | 30.4B | 30.0B | 28.2B | 28.3B |
| Minority Interest | 4.4B | 4.2B | 4.2B | 4.1B | 4.3B |
| Total Capitalization | 37.7B | 40.0B | 39.0B | 36.2B | 33.7B |
| Net Tangible Assets | 18.2B | 17.9B | 17.3B | 15.9B | 15.8B |
| Tangible Book Value | 17.9B | 17.4B | 16.6B | 15.2B | 14.7B |
| Invested Capital | 39.9B | 39.5B | 38.2B | 35.5B | 34.7B |
| Total Debt | 14.8B | 13.8B | 13.2B | 12.2B | 13.1B |
| Net Debt | 5.1B | 5.0B | 6.0B | 5.8B | 4.6B |
| Share Issued | 22.6M | 23.9M | 24.2M | 24.2M | 24.4M |
| Ordinary Shares Number | 20.9M | 22.1M | 22.4M | 22.4M | 22.5M |
| Accrued Interest Receivable | 516.1M | -- | -- | -- | 483.2M |
| Capital Lease Obligations | 1.2B | -- | -- | -- | 1.3B |
| Commercial Paper | -- | -- | -- | -- | 2.1B |
| Defined Pension Benefit | 133.5M | -- | -- | -- | 100.4M |
| Derivative Product Liabilities | 1.1B | 392.8M | 340.4M | 307.2M | 558.6M |
| Employee Benefits | 96.9M | -- | -- | -- | 109.3M |
| Income Tax Payable | 589.2M | -- | -- | -- | 565.3M |
| Investments In Other Ventures Under Equity Method | 10.0B | 9.9B | 9.6B | 8.8B | 8.5B |
| Line Of Credit | 2.5B | -- | -- | -- | 2.1B |
| Non Current Deferred Liabilities | 2.3B | 2.0B | 2.0B | 1.7B | 2.2B |
| Non Current Deferred Revenue | 355.7M | -- | -- | -- | 442.0M |
| Non Current Deferred Taxes Liabilities | 1.9B | 2.0B | 2.0B | 1.7B | 1.7B |
| Non Current Pension And Other Postretirement Benefit Plans | 96.9M | -- | -- | -- | 109.3M |
| Other Equity Interest | 779.0M | 723.8M | 689.5M | 670.1M | 733.0M |
| Other Payable | 240.6M | -- | -- | -- | -- |
| Other Receivables | 934.7M | -- | -- | -- | 1.0B |
| Preferred Shares Number | -- | -- | -- | -- | 48.2M |
| Preferred Stock | 231.7M | 520.2M | 756.1M | 756.1M | 1.1B |
| Preferred Stock Equity | 231.7M | 520.2M | 756.1M | 756.1M | 1.1B |
| Taxes Receivable | 177.0M | -- | -- | -- | 252.2M |
| Total Tax Payable | 589.2M | -- | -- | -- | 565.3M |
| Treasury Shares Number | 1.8M | 1.8M | 1.8M | 1.8M | 2.0M |
| Line Item | Q4 2025Dec 31, 2025 | Q3 2025Sep 30, 2025 | Q2 2025Jun 30, 2025 | Q1 2025Mar 31, 2025 | Q4 2024Dec 31, 2024 |
|---|---|---|---|---|---|
| Operating Cash Flow | -1.3B | 2.2B | 871.3M | 694.4M | 736.4M |
| Cash Flow From Continuing Operating Activities | -1.3B | 2.2B | 871.3M | 694.4M | 736.4M |
| Depreciation And Amortization | 159.1M | 165.5M | 167.7M | 291.5M | 217.3M |
| Stock Based Compensation | 42.2M | 46.0M | 44.8M | 43.6M | 46.0M |
| Deferred Tax | -31.9M | 74.8M | 181.4M | -22.4M | -3.5M |
| Deferred Income Tax | -31.9M | 74.8M | 181.4M | -22.4M | -3.5M |
| Change In Working Capital | 767.8M | 1.5B | 630.9M | 1.3B | -797.7M |
| Other Non Cash Items | -2.7B | -91.7M | -606.9M | -668.8M | -25.8M |
| Capital Expenditure | -111.7M | -263.7M | -98.6M | -112.2M | -117.0M |
| Purchase Of PPE | -111.7M | -263.7M | -98.6M | -112.2M | -117.0M |
| Net PPE Purchase And Sale | -111.7M | -263.7M | -98.6M | -112.2M | -117.0M |
| Purchase Of Business | -364.4M | -339.6M | -725.8M | -141.4M | -1.8B |
| Sale Of Business | 158.1M | 61.9M | 49.5M | 646.8M | 561.9M |
| Investing Cash Flow | 151.9M | -499.1M | -603.1M | 426.5M | -681.2M |
| Cash Flow From Continuing Investing Activities | 151.9M | -499.1M | -603.1M | 426.5M | -681.2M |
| Issuance Of Debt | -75.4M | 1.2B | 1.1B | 364.5M | 1.6B |
| Repayment Of Debt | -245.0M | -460.6M | -424.7M | -61.6M | -771.8M |
| Net Issuance Payments Of Debt | -320.4M | 755.0M | 657.5M | 302.9M | 825.9M |
| Repurchase Of Capital Stock | -1.0B | -688.6M | -128.5M | -655.5M | -648.9M |
| Net Common Stock Issuance | -812.2M | -508.9M | -128.5M | -364.7M | -475.1M |
| Common Stock Dividend Paid | 0.00 | 0.00 | 0.00 | -343.6M | 0.00 |
| Common Stock Payments | -812.2M | -508.9M | -128.5M | -364.7M | -475.1M |
| Financing Cash Flow | -1.4B | 33.3M | 435.1M | -851.6M | -371.2M |
| Cash Flow From Continuing Financing Activities | -1.4B | 33.3M | 435.1M | -851.6M | -371.2M |
| Effect Of Exchange Rate Changes | -25.6M | -900,000 | 70.1M | 16.1M | -91.9M |
| Changes In Cash | -2.6B | 1.7B | 703.3M | 269.3M | -316.0M |
| Beginning Cash Position | 8.9B | 7.2B | 6.4B | 6.1B | 6.5B |
| End Cash Position | 6.2B | 8.9B | 7.2B | 6.4B | 6.1B |
| Free Cash Flow | -1.4B | 1.9B | 772.7M | 582.2M | 619.4M |
| Amortization Of Securities | -58.4M | -70.9M | -65.8M | -63.4M | -74.0M |
| Cash Dividends Paid | -4.1M | -5.7M | -5.8M | -352.5M | -11.5M |
| Depreciation | 159.1M | 165.5M | 167.7M | 291.5M | 217.3M |
| Dividends Received Cfi | 492.6M | 40.3M | 173.6M | 33.5M | 79.9M |
| Earnings Losses From Equity Investments | -251.8M | -305.0M | -130.7M | -128.6M | -347.0M |
| Gain Loss On Investment Securities | 127.7M | -426.2M | -952.0M | -1.1B | 1.8B |
| Gain Loss On Sale Of Business | -- | -- | -- | -- | -575.5M |
| Long Term Debt Issuance | -75.4M | 1.2B | 1.1B | 3.8M | 1.6B |
| Long Term Debt Payments | -245.0M | -460.6M | -424.7M | -61.6M | -771.8M |
| Net Business Purchase And Sale | -206.3M | -277.7M | -676.3M | 505.4M | -1.2B |
| Net Income From Continuing Operations | 1.5B | 1.2B | 1.6B | 953.0M | 1.3B |
| Net Investment Properties Purchase And Sale | -22.7M | 2.0M | -1.8M | -200,000 | -5.1M |
| Net Long Term Debt Issuance | -320.4M | 755.0M | 657.5M | -57.8M | 825.9M |
| Net Other Financing Charges | -86.2M | -27.4M | -88.1M | -146.5M | -536.7M |
| Net Other Investing Changes | -- | -- | -- | -- | -- |
| Net Preferred Stock Issuance | -218.9M | -179.7M | 0.00 | -290.8M | -- |
| Net Short Term Debt Issuance | -- | -- | -- | 360.7M | -- |
| Operating Gains Losses | 81.8M | -731.2M | -1.1B | -1.2B | 871.5M |
| Preferred Stock Dividend Paid | -4.1M | -5.7M | -5.8M | -8.9M | -11.5M |
| Preferred Stock Payments | -218.9M | -179.7M | 0.00 | -290.8M | -- |
| Purchase Of Investment Properties | -- | -- | -1.8M | -200,000 | -- |
| Sale Of Investment Properties | -- | 2.0M | -- | -- | -- |
| Short Term Debt Issuance | -- | -- | -- | 360.7M | -- |