Cash flow wit FAF is not the problem. many of the acquisitions are stock deals and do not involve cash or debt. Other acquisitions are either paid for or near the end of their payouts. If you want an interiesting comparison, look at St Paul Companies. Alhough much smaller than St Paul, FAF blows them away in every catagory, especially earnings growth. With a current P/E of about 4.5 this has to be the value stock of the year. I have owned the company for about 5 years. Unfortunately the recent rise in interest rates has much to do with the down prices. Long term rates seem to have peaked at about 5.7% and hopefully will continue to fall for a long time. Do no ever forget, this company lives and dies with mortgage rates.
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