First Acceptance Corp FACO

FinancialsInsuranceUnited States of America

Last close 6.08 USD on Nov 1, 2026, +44.2% year to date

Quant rating

Quant rating D Rank 673 of 799 in Financials

Growth D 609 of 799
Valuation D 675 of 799
Quality D 715 of 799
Revisions D 617 of 799
Momentum A 65 of 799

Historical valuation

Valuation history unavailable.

Key data

Market cap: 225M
Enterprise value: 225M
52-week range: 3.25 – 6.90
3-year range: 1.05 – 6.90
Dividend yield: 0.00%
Beta (5 years): 0.25
Shares outstanding: 37.0M
Next earnings: –

About the company

First Acceptance Corporation is an insurance holding company. The Company underwrites non-standard personal automobile insurance through insurance companies known as the First Acceptance Insurance Group. It offers non-standard personal automobile insurance through its own underwritten insurance policies primarily through independent agents in 15 states. It also offers a variety of other commissionable third-party products, such as roadside assistance, and in most states, it also sells (and continues to sell) an insurance product for renters that it underwrite. Its products include auto insurance, renters insurance, and life insurance. Its roadside assistance services include mechanical first aid, emergency towing, emergency fluid delivery, emergency tire service, emergency battery service, and lost key or lockout service. Its subsidiaries include First Acceptance Insurance Company of Georgia, Inc. and First Acceptance Insurance Company of Tennessee, Inc.

Growth and profitability

Growth and profitability by fiscal year
	–	–	–	–	–	5Y avg
Revenue (mil)	343	379	327	258	235	–
Revenue growth	−9.5%	15.9%	26.7%	9.9%	7.6%	9.5%
EPS (basic, normalized)	–	–	−1.43	−0.37	−0.35	–
EPS growth	–	–	–	–	–	–
Gross margin	–	–	–	–	–	–
Net margin	1.1%	−7.5%	−0.6%	10.7%	3.8%	1.5%
ROE	–	–	–	–	−7.0%	−7.0%

Balance sheet, last quarter
Cash & short-term investments (mil)	–
Current ratio	–
Long-term debt (mil)	–
Net debt (mil)	–
Total equity (mil)	–
Net debt / equity	–

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			Book value per share			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	P/B	Mean est.	Growth	P/E
– actual	343	−9.5%	0.7x	–	–	–	–	–	–

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
FY1	–	–	–	–	–	–	–	–
FY2	–	–	–	–	–	–	–	–
FY3	–	–	–	–	–	–	–	–

Earnings surprises

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Sep 2009	Dec 2009	Mar 2010	Jun 2010	FQ-5	FQ-4	FQ-3	FQ-2	FQ-1	FQ0
Sales reported (mil)	57.3	53.8	56.1	56.0	–	–	–	–	–	–
Sales mean (mil)	–	–	–	–	–	–	–	–	–	–
Surprise	–	–	–	–	–	–	–	–	–	–
EPS reported	0.06	0.03	0.04	0.02	–	–	–	–	–	–
EPS mean	–	–	–	–	–	–	–	–	–	–
Surprise	–	–	–	–	–	–	–	–	–	–

Peer comparison Insurance

Peers in the same industry group, by market capitalization
Company	Market cap	ROE	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 P/B	FY2 P/B
FACO First Acceptance Corp	225M	–	1.1%	–	–	–	–	–
2328 PICC Property and Casualty Co Ltd	46.2B	14.8%	7.6%	1.01x	7.4x	7.1x	1.0x	0.9x
PGR The Progressive Corporation	134.0B	38.2%	12.9%	3.91x	12.6x	14.3x	3.9x	3.4x
ADML Admiral Group PLC	15.8B	53.0%	14.5%	7.92x	16.3x	14.3x	7.5x	6.3x
KNSL Kinsale Capital Group Inc	8.2B	26.4%	27.8%	4.29x	16.6x	16.7x	4.0x	3.6x
MCY Mercury General Corporation	5.7B	–	9.0%	2.00x	7.7x	8.7x	1.8x	1.6x
Mean		33.1%	12.1%	3.83x	12.1x	12.2x	3.6x	3.2x
Median		32.3%	11.0%	3.91x	12.6x	14.3x	3.9x	3.4x

Technical analysis

1M−1.9%
3M+12.4%
1Y+84.9%
3Y+424.1%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, First Acceptance Corp, fiscal years, most recent first
	–	–	–	–	–	–
Premiums earned	343	379	327	258	235	218
Other revenue	4.7	9.6	5.0	5.1	5.7	9.8
Total revenue	348	389	332	263	241	228
Losses, benefits and adjustments	221	309	219	161	143	148
Amortization of policy acquisition costs	–	–	–	–	–	–
Selling, general & administrative expenses	0.3	0.2	0.1	0.2	0.2	0.6
Depreciation/amortization	2.9	3.5	2.3	1.8	2.1	2.2
Interest expense (income), operating	–	–	–	–	1.7	–
Other operating expenses	112	118	110	88.5	83.9	83.0
Operating income	11.1	−42.0	0.4	11.4	9.8	−6.0
Net interest income (expense)	−4.5	−4.3	−3.0	−1.7	–	−3.0
Gain (loss) on sale of assets	0	1.2	–	–	–	–
Other non-operating income (expense)	0	0	0	0	0	0
Net income before taxes	6.6	−45.1	−2.6	9.7	9.8	−9.0
Provision for taxes	2.7	−15.8	−0.6	−18.3	0.7	0
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	3.9	−29.3	−1.9	28.1	9.2	−9.0
Extraordinary items	−12.5	–	–	–	–	–
Net income	−8.6	−29.3	−1.9	28.1	9.2	−9.0
Basic weighted average shares (mil)	41.3	41.1	41.0	41.0	40.9	40.9
Diluted weighted average shares (mil)	41.3	41.1	41.0	41.3	41.1	40.9
Basic EPS, normalized	–	–	−1.43	−0.37	−0.35	–

Balance sheet in millions of USD, fiscal years

Balance sheet, First Acceptance Corp, fiscal years, most recent first
	–	–	–	–	–	–
Assets
Total receivables	–	–	–	–	–	–
Prepaid expenses	–	–	–	–	–	–
Property, plant & equipment	2.9	4.2	5.1	3.2	3.5	4.7
Goodwill	29.4	29.4	29.4	0	–	–
Intangibles	6.9	7.6	8.5	4.8	4.8	4.8
Insurance receivables	69.6	66.4	69.9	56.5	46.2	45.6
Long-term investments	140	127	143	136	138	139
Note receivable	–	–	–	–	–	–
Other long-term assets	20.5	35.6	18.3	16.5	–	–
Deferred policy acquisition costs	4.9	4.9	5.5	3.5	2.9	3.2
Other assets	6.4	6.1	7.0	6.0	6.5	5.9
Total assets	396	400	402	328	274	262
Liabilities
Accounts payable	–	–	–	–	–	–
Payable/accrued	–	–	–	–	–	–
Accrued expenses	6.0	7.1	7.3	3.3	–	–
Policy liabilities	242	240	205	165	140	134
Short-term debt	29.8	29.8	29.8	0	0	0
Current portion of long-term debt	–	–	–	–	–	–
Long-term debt	40.3	40.3	40.3	40.2	40.3	40.3
Minority interest	–	–	–	–	–	–
Other liabilities	13.2	10.5	15.6	13.5	16.2	14.9
Total liabilities	331	328	298	221	197	190
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	0.4	0.4	0.4	0.4	0.4	0.4
Additional paid-in capital	458	458	457	457	457	457
Retained earnings (accumulated deficit)	−396	−387	−358	−356	−384	−393
Treasury stock	–	–	–	–	–	–
Other equity	1.9	1.3	3.5	5.1	3.4	8.7
Total equity	64.8	72.5	104	107	76.9	72.8
Total liabilities & shareholders' equity	396	400	402	328	274	262

Cash flow statement in millions of USD, fiscal years

Cash flow statement, First Acceptance Corp, fiscal years, most recent first
	–	–	–	–	–	–
Operating activities
Net income	−8.6	−29.3	−1.9	28.1	9.2	−9.0
Depreciation, depletion & amortization	2.9	3.5	2.3	1.8	2.1	2.2
Deferred taxes	14.9	−16.2	−0.9	−19.2	0	0
Non-cash items	0	−6.2	0	0.3	0.2	−2.3
Changes in working capital	−0.2	34.5	29.9	16.1	6.4	12.9
Cash from operations	9.0	−13.6	29.3	27.0	17.8	3.8
Investing activities
Capital expenditures	−0.8	−2.4	−36.5	−1.4	−0.9	−3.6
Other investing cash flows	−11.5	19.0	−9.7	4.7	−4.0	35.1
Cash from investing	−12.3	16.7	−46.2	3.3	−4.9	31.5
Financing activities
Financing cash flow items	–	–	–	0	0	0
Cash dividends paid	–	–	–	–	–	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	0.1	0.1	30.1	0.1	0.1	0.1
Cash from financing	0.1	0.1	30.1	0.1	0.1	0
Foreign exchange effects	–	–	–	–	–	–
Net change in cash	−3.2	3.1	13.2	30.4	12.9	35.4
Free cash flow	8.2	−16.0	−7.2	25.6	16.8	0.2

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.