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First Bancshares (FBMS) Financials

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Annual Income Statements for First Bancshares

Annual Income Statements for First Bancshares

This table shows First Bancshares' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 6.25 8.46 9.67 11 21 44 53 64 63 75 77
Consolidated Net Income / (Loss)		 6.61 8.80 10 11 21 44 53 64 63 75 77
Net Income / (Loss) Continuing Operations		 6.61 8.80 10 11 21 44 53 64 63 75 77
Total Pre-Tax Income 		9.05 12 14 18 27 56 63 81 79 97 98
Total Revenue		 41 45 52 74 105 149 195 195 215 296 284
Net Interest Income / (Expense)		 33 37 40 59 85 122 153 157 178 249 234
Total Interest Income		 36 40 45 66 100 149 179 177 200 341 370
Loans and Leases Interest Income		 30 34 38 57 87 129 158 151 158 295 322
Investment Securities Interest Income		 5.96 5.80 5.92 8.69 12 18 21 24 41 44 45
Deposits and Money Market Investments Interest Income		 0.09 0.09 0.06 0.16 0.99 1.85 0.90 1.14 1.95 2.45 3.44
Total Interest Expense		 2.97 3.21 4.32 6.91 15 27 27 20 23 92 136
Deposits Interest Expense		 2.37 2.56 3.44 5.26 11 20 20 12 14 71 118
Long-Term Debt Interest Expense		 0.60 0.65 0.87 1.65 4.31 6.96 7.06 7.62 8.60 20 18
Total Non-Interest Income		 7.80 7.59 11 14 21 27 42 37 37 47 50
Service Charges on Deposit Accounts		 - - - - - 7.84 7.21 7.26 8.67 14 14
Other Service Charges		 5.72 6.22 6.06 9.36 13 11 14 17 19 30 28
Net Realized & Unrealized Capital Gains on Investments		 1.71 0.96 4.39 4.27 4.31 5.98 19 12 5.47 -0.61 3.33
Other Non-Interest Income		 0.37 0.41 0.79 0.74 3.04 2.36 1.51 1.96 3.73 3.32 4.34
Provision for Credit Losses		 1.42 0.41 0.63 0.51 2.12 3.74 25 -1.10 5.61 15 3.79
Total Non-Interest Expense		 31 32 37 55 76 89 106 115 130 185 182
Salaries and Employee Benefits		 17 19 22 31 37 47 61 66 73 93 102
Net Occupancy & Equipment Expense		 4.68 4.77 1.80 7.09 9.18 12 15 17 18 24 24
Marketing Expense		 0.45 0.50 0.47 0.41 0.51 0.86 0.51 0.62 0.39 0.83 0.45
Other Operating Expenses		 7.21 7.39 11 16 15 22 25 27 28 48 42
Amortization Expense		 - - - - - - - - 4.66 9.56 9.53
Restructuring Charge		 - - - - 14 6.28 3.32 1.61 6.41 9.08 3.74
Income Tax Expense		 2.44 3.21 3.93 6.96 5.79 13 11 17 16 21 21
Basic Earnings per Share		 $1.27 $1.64 $1.86 - - - $2.53 $3.05 $2.86 $2.41 $2.45
Weighted Average Basic Shares Outstanding		 4.90M 5.37M 5.44M 12.34M 17.27M 18.85M 21.02M 20.49M 31.06M 31.23M 31.25M
Diluted Earnings per Share		 $1.25 $1.62 $1.64 - - - $2.52 $3.03 $2.84 $2.39 $2.44
Weighted Average Diluted Shares Outstanding		 4.90M 5.37M 5.44M 12.34M 17.27M 18.85M 21.02M 20.49M 31.06M 31.23M 31.25M
Weighted Average Basic & Diluted Shares Outstanding		 4.90M 5.37M 5.44M 12.34M 17.27M 18.85M 21.02M 20.49M 31.06M 31.23M 31.25M
Cash Dividends to Common per Share		 $0.15 $0.15 $0.15 $0.15 $0.20 $0.31 $0.42 $0.58 $0.74 $0.90 $1.00

Quarterly Income Statements for First Bancshares

This table shows First Bancshares' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 6/30/2022 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 16 14 16 16 24 24 11 21 20 19 18
Consolidated Net Income / (Loss)		 16 14 16 16 24 24 11 21 20 19 18
Net Income / (Loss) Continuing Operations		 16 14 16 16 24 24 11 21 20 19 18
Total Pre-Tax Income 		19 18 20 21 30 31 14 27 25 24 22
Total Revenue		 51 58 56 78 78 80 60 70 71 71 72
Net Interest Income / (Expense)		 42 49 48 65 66 61 58 57 58 59 60
Total Interest Income		 46 54 58 80 86 86 89 92 91 94 94
Loans and Leases Interest Income		 35 42 47 68 75 75 78 79 78 82 82
Investment Securities Interest Income		 11 12 9.35 12 11 11 11 11 12 11 11
Total Interest Expense		 3.75 4.73 10 15 20 25 31 34 33 35 33
Deposits Interest Expense		 1.91 2.75 7.04 12 15 20 25 29 29 30 29
Long-Term Debt Interest Expense		 1.84 1.98 2.96 3.14 5.40 5.41 6.31 4.91 3.77 4.57 4.47
Total Non-Interest Income		 8.66 9.02 8.12 13 12 19 2.35 13 13 12 12
Service Charges on Deposit Accounts		 2.04 2.22 2.37 3.66 3.43 3.65 3.45 3.37 3.33 3.71 3.50
Other Service Charges		 6.37 6.80 -0.87 8.29 9.05 9.58 2.90 9.36 9.81 8.65 0.36
Net Realized & Unrealized Capital Gains on Investments		 0.09 0.00 5.39 0.66 -0.05 -0.10 -1.12 -0.05 0.18 -0.12 3.32
Provision for Credit Losses		 0.60 4.30 0.71 11 1.25 1.00 1.25 0.00 1.65 1.00 1.14
Total Non-Interest Expense		 31 36 35 46 47 48 44 43 44 46 48
Salaries and Employee Benefits		 17 19 20 24 23 23 24 25 25 25 27
Net Occupancy & Equipment Expense		 3.83 3.83 6.52 5.30 5.04 5.34 8.46 5.71 5.49 5.66 7.60
Other Operating Expenses		 8.72 9.34 2.33 13 14 19 1.27 13 13 13 2.53
Restructuring Charge		 1.17 3.64 1.19 3.79 4.10 0.59 0.59 0.01 0.35 2.59 0.79
Income Tax Expense		 3.46 3.92 4.01 4.60 6.53 6.94 3.28 5.97 5.68 5.29 3.84
Basic Earnings per Share		 $0.77 $0.61 $0.67 $0.52 $0.76 $0.78 $0.35 $0.66 $0.62 $0.59 $0.58
Weighted Average Basic Shares Outstanding		 24.03M 24.03M 31.06M 31.05M 31.10M 31.09M 31.23M 31.22M 31.20M 31.20M 31.25M
Diluted Earnings per Share		 $0.76 $0.61 $0.66 $0.52 $0.75 $0.77 $0.35 $0.65 $0.62 $0.59 $0.58
Weighted Average Diluted Shares Outstanding		 24.03M 24.03M 31.06M 31.05M 31.10M 31.09M 31.23M 31.22M 31.20M 31.20M 31.25M
Weighted Average Basic & Diluted Shares Outstanding		 24.03M 24.03M 31.06M 31.05M 31.10M 31.09M 31.23M 31.22M 31.20M 31.20M 31.25M

Annual Cash Flow Statements for First Bancshares

This table details how cash moves in and out of First Bancshares' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 5.37 -3.36 21 30 67 9.76 394 357 -774 210 -135
Net Cash From Operating Activities		 7.06 7.55 8.02 22 32 45 51 96 90 109 86
Net Cash From Continuing Operating Activities		 7.06 7.55 8.02 22 32 45 51 96 90 109 86
Net Income / (Loss) Continuing Operations		 6.61 8.80 10 11 21 44 53 64 63 75 77
Consolidated Net Income / (Loss)		 6.61 8.80 10 11 21 44 53 64 63 75 77
Provision For Loan Losses		 1.42 0.41 0.63 0.51 2.12 3.74 25 -1.10 5.61 15 3.79
Depreciation Expense		 2.18 2.30 2.30 2.90 4.30 5.31 12 14 12 12 10
Amortization Expense		 0.90 0.92 0.63 1.74 -0.68 -1.79 -3.95 -0.03 1.71 -4.43 2.03
Non-Cash Adjustments to Reconcile Net Income		 0.62 0.81 0.37 8.62 2.79 -5.38 -20 16 3.24 18 3.32
Changes in Operating Assets and Liabilities, net		 -4.68 -5.69 -6.03 -2.78 1.74 -0.93 -15 2.64 4.38 -6.73 -11
Net Cash From Investing Activities		 -79 -54 -111 -141 -8.81 -63 -259 -207 -707 328 -148
Net Cash From Continuing Investing Activities		 -79 -54 -111 -141 -8.81 -63 -259 -207 -707 328 -148
Purchase of Property, Leasehold Improvements and Equipment		 -0.99 -1.23 -2.71 -4.68 -4.06 -7.89 -4.40 -7.13 -16 -3.69 -3.33
Acquisitions		 - - - - - - - - - 107 0.00
Purchase of Investment Securities		 -138 -103 -159 -214 -156 -236 -497 -798 -621 -253 -461
Sale of Property, Leasehold Improvements and Equipment		 - - - - - - - - 0.71 1.42 0.43
Sale and/or Maturity of Investments		 61 50 51 77 109 150 213 239 -95 477 316
Net Cash From Financing Activities		 77 43 124 150 44 28 602 469 -158 -227 -72
Net Cash From Continuing Financing Activities		 77 43 124 150 44 28 602 469 -158 -227 -72
Net Change in Deposits		 54 24 122 76 46 -68 664 602 -223 -427 141
Issuance of Debt		 180 194 252 199 170 365 64 0.00 2,055 7,600 4,033
Repayment of Debt		 -156 -173 -293 -179 -169 -259 -109 -115 -1,950 -7,371 -4,213
Repurchase of Common Equity		 0.00 -0.34 - 0.00 -0.24 -5.23 -8.07 -5.17 -22 0.00 0.00
Payment of Dividends		 -1.11 -1.12 -1.24 -1.42 -2.56 -5.19 -8.59 -12 -16 -28 -31
Other Financing Activities, Net		 -0.09 -0.09 -0.18 -0.33 -0.02 -0.06 -0.49 -0.72 -0.68 -0.36 -2.28
Cash Interest Paid		 3.06 3.45 4.26 7.05 11 21 22 16 17 51 127
Cash Income Taxes Paid		 0.28 4.15 4.73 0.35 2.12 11 14 16 7.19 16 17

Quarterly Cash Flow Statements for First Bancshares

This table details how cash moves in and out of First Bancshares' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 6/30/2022 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Net Change in Cash & Equivalents		 -446 -193 -19 188 -139 3.58 158 -15 -132 6.53 6.28
Net Cash From Operating Activities		 22 26 18 4.65 34 42 28 10 26 32 18
Net Cash From Continuing Operating Activities		 22 26 18 4.65 34 42 28 10 26 32 18
Net Income / (Loss) Continuing Operations		 16 14 16 16 24 24 11 21 20 19 18
Consolidated Net Income / (Loss)		 16 14 16 16 24 24 11 21 20 19 18
Provision For Loan Losses		 0.60 4.30 0.71 11 1.25 1.00 1.25 0.00 1.65 1.00 1.14
Depreciation Expense		 2.95 2.42 3.23 3.34 -1.02 1.65 8.13 3.70 4.77 5.71 -3.98
Non-Cash Adjustments to Reconcile Net Income		 2.01 8.65 -6.42 -0.43 -2.50 -0.58 21 -1.67 -2.05 2.68 4.37
Changes in Operating Assets and Liabilities, net		 0.93 -2.97 2.72 -26 13 15 -8.97 -12 1.47 4.08 -4.15
Net Cash From Investing Activities		 -333 -34 -15 290 5.09 -40 73 17 -137 25 -54
Net Cash From Continuing Investing Activities		 -333 -34 -15 290 5.09 -40 73 17 -137 25 -54
Purchase of Property, Leasehold Improvements and Equipment		 -2.94 -5.02 -6.38 -1.07 -1.85 0.17 -0.94 -0.72 -0.61 -0.96 -1.03
Purchase of Investment Securities		 -386 -123 270 -41 -39 -76 -98 -95 -187 -75 -104
Sale of Property, Leasehold Improvements and Equipment		 - - - 0.73 - 0.69 - 0.00 0.42 - 0.01
Sale and/or Maturity of Investments		 56 69 -279 224 45 36 172 112 50 101 52
Net Cash From Financing Activities		 -135 -185 -22 -106 -179 1.60 57 -42 -21 -51 42
Net Cash From Continuing Financing Activities		 -135 -185 -22 -106 -179 1.60 57 -42 -21 -51 42
Net Change in Deposits		 -132 -245 -57 -219 -176 -13 -19 246 -86 -68 49
Issuance of Debt		 - 65 1,990 1,533 605 1,209 4,253 100 1,000 1,516 1,417
Repayment of Debt		 -0.05 -0.04 -1,950 -1,413 -601 -1,187 -4,170 -380 -927 -1,491 -1,415
Repurchase of Common Equity		 - - - -0.31 - - - -0.31 -0.02 -0.05 0.38
Payment of Dividends		 -3.63 -4.49 -4.73 -6.42 -6.74 -7.04 -7.35 -7.66 -7.67 -7.67 -7.67
Cash Interest Paid		 - - - 11 9.58 14 17 39 28 32 29
Cash Income Taxes Paid		 - - - 0.94 3.28 5.06 6.80 0.16 9.10 5.54 1.75

Annual Balance Sheets for First Bancshares

This table presents First Bancshares' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Total Assets		 1,094 1,145 1,277 1,813 3,004 3,942 5,153 6,077 6,462 7,999 8,005
Cash and Due from Banks		 30 24 32 43 71 90 138 115 67 224 114
Interest Bearing Deposits at Other Banks		 14 17 30 48 88 79 425 804 78 131 106
Trading Account Securities		 265 251 255 368 503 765 1,022 - 691 1,042 1,003
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 11 0.00 0.00 0.00 5,116 5,351
Loans Held for Sale		 - - 860 1,217 2,050 - 3,109 - 4.44 2.91 3.69
Premises and Equipment, Net		 35 34 35 46 75 98 115 - 144 174 170
Goodwill		 12 14 14 20 90 159 157 157 180 273 273
Intangible Assets		 - - - - - - - - - 69 59
Other Assets		 737 806 52 70 127 2,740 187 72 5,297 967 909
Total Liabilities & Shareholders' Equity		 1,094 1,145 1,277 1,813 3,004 3,942 5,153 6,077 6,462 7,999 8,005
Total Liabilities		 998 1,042 1,123 1,591 2,641 3,398 4,508 5,247 5,815 7,050 6,999
Non-Interest Bearing Deposits		 201 189 202 302 570 723 571 1,550 1,630 1,849 1,797
Interest Bearing Deposits		 691 727 837 1,169 1,887 2,353 3,644 3,676 3,864 4,614 4,808
Short-Term Debt		 - - - - 86 214 - 0.00 130 390 210
Accrued Interest Payable		 0.32 0.25 0.31 0.35 1.52 2.51 2.13 - 3.32 23 14
Long-Term Debt		 100 121 79 114 81 81 259 - 145 123 124
Other Long-Term Liabilities		 4.70 4.12 4.03 5.47 16 24 31 21 41 51 47
Total Equity & Noncontrolling Interests		 96 103 155 222 363 544 645 676 647 949 1,005
Total Preferred & Common Equity		 96 103 155 222 363 544 645 676 647 949 1,005
Total Common Equity		 79 86 155 222 363 544 645 676 647 949 1,005
Common Stock		 50 50 112 170 294 429 479 481 584 808 810
Retained Earnings		 28 36 44 54 72 110 154 206 253 300 346
Treasury Stock		 -0.46 -0.46 -0.46 -0.46 -0.46 -5.69 -14 -19 -41 -41 -41
Accumulated Other Comprehensive Income / (Loss)		 1.82 1.10 -1.08 -0.44 -1.80 10 26 7.98 -149 -118 -110

Quarterly Balance Sheets for First Bancshares

This table presents First Bancshares' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q2 2022 Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024
Period end date 6/30/2022 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024
Total Assets		 6,037 6,455 8,017 7,862 7,884 7,964 7,966 7,966
Cash and Due from Banks		 119 72 107 106 122 109 117 128
Interest Bearing Deposits at Other Banks		 238 92 227 88 76 231 91 87
Trading Account Securities		 1,489 1,379 1,928 1,199 1,142 1,089 1,124 1,060
Loans and Leases, Net of Allowance		 3,093 3,681 4,917 4,958 5,036 5,086 5,196 5,263
Loans and Leases		 3,132 3,719 4,970 5,018 5,096 5,140 5,251 5,319
Allowance for Loan and Lease Losses		 32 38 52 53 54 54 55 56
Loans Held for Sale		 - 2.23 4.07 - - 4.24 5.89 2.99
Premises and Equipment, Net		 127 141 - 178 176 173 172 171
Goodwill		 157 179 272 273 273 273 273 273
Other Assets		 809 909 382 1,053 1,054 999 988 983
Total Liabilities & Shareholders' Equity		 6,037 6,455 8,017 7,862 7,884 7,964 7,966 7,966
Total Liabilities		 5,477 5,833 7,117 6,963 6,987 7,004 6,994 6,955
Non-Interest Bearing Deposits		 823 1,771 2,082 2,087 1,968 1,837 1,870 1,797
Interest Bearing Deposits		 4,483 3,780 4,586 4,406 4,512 4,873 4,756 4,764
Short-Term Debt		 - 90 250 280 302 110 182 208
Accrued Interest Payable		 1.61 1.37 4.09 7.97 14 14 15 14
Long-Term Debt		 145 145 154 128 128 123 124 124
Other Long-Term Liabilities		 24 46 41 54 63 46 46 49
Total Equity & Noncontrolling Interests		 560 621 896 899 897 960 972 1,012
Total Preferred & Common Equity		 560 621 896 899 897 960 972 1,012
Total Common Equity		 560 621 896 899 897 960 972 1,012
Common Stock		 481 583 806 806 807 808 809 809
Retained Earnings		 232 241 262 279 297 313 325 336
Treasury Stock		 -41 -41 -41 -41 -41 -41 -41 -41
Accumulated Other Comprehensive Income / (Loss)		 -111 -162 -131 -145 -165 -120 -120 -92

Annual Metrics And Ratios for First Bancshares

This table displays calculated financial ratios and metrics derived from First Bancshares' official financial filings.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 16.11% 8.21% 15.60% 42.66% 43.42% 41.07% 30.79% -0.01% 10.40% 37.83% -4.05%
EBITDA Growth		 50.70% 25.53% 11.49% 30.79% 37.94% 95.74% 19.19% 32.69% -2.40% 12.86% 5.49%
EBIT Growth		 44.95% 32.73% 16.96% 25.07% 53.76% 108.93% 11.73% 28.56% -2.95% 23.02% 1.20%
NOPAT Growth		 42.55% 33.04% 15.01% 4.91% 99.93% 106.10% 20.03% 22.21% -1.94% 19.93% 2.30%
Net Income Growth		 42.55% 33.04% 15.01% 4.91% 99.93% 106.10% 20.03% 22.21% -1.94% 19.93% 2.30%
EPS Growth		 17.92% 29.60% 1.23% 0.00% 0.00% 0.00% 0.00% 20.24% -6.27% -15.85% 2.09%
Operating Cash Flow Growth		 -60.78% 6.94% 6.21% 169.44% 45.85% 41.90% 14.51% 87.00% -5.94% 20.53% -21.19%
Free Cash Flow Firm Growth		 -40.69% 54.00% 101.81% -26,527.32% -85.29% -55.16% 95.15% 1,172.25% -120.91% -1,509.26% 143.09%
Invested Capital Growth		 32.94% 14.33% 4.36% 44.05% 57.12% 58.45% 7.80% -8.20% 11.06% 58.65% -8.43%
Revenue Q/Q Growth		 3.75% 1.34% 3.79% 14.02% 51.77% -7.39% -8.14% 11.49% 3.22% 1.36% 4.27%
EBITDA Q/Q Growth		 13.46% 5.73% 2.90% 57.92% 20.72% 2.54% -24.99% 19.70% -1.65% -5.01% -2.02%
EBIT Q/Q Growth		 7.77% 4.42% -0.37% 62.29% 18.46% 2.67% -26.60% 29.07% -3.85% -5.82% 8.66%
NOPAT Q/Q Growth		 8.93% 3.74% -0.49% 1.01% 18.62% -22.75% -6.31% 13.18% 0.81% -6.50% 10.37%
Net Income Q/Q Growth		 8.93% 3.74% -0.49% 54.93% 38.96% 13.93% -30.59% 50.58% 0.81% -6.50% 10.37%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -11.48% 10.41%
Operating Cash Flow Q/Q Growth		 -30.34% 24.16% 191.81% 0.50% 10.68% 12.39% 3.12% 4.18% -0.66% 10.05% -10.89%
Free Cash Flow Firm Q/Q Growth		 -80.66% -112.52% 103.54% -31.75% -7.05% -40.60% 91.28% -2.82% -249.57% -19.15% 266.89%
Invested Capital Q/Q Growth		 27.79% 31.10% 22.45% 24.02% 17.77% 20.67% 0.57% 2.04% 7.63% 10.16% -0.27%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 29.45% 34.16% 32.95% 30.21% 29.05% 40.31% 36.74% 48.75% 43.10% 35.29% 38.80%
EBIT Margin		 21.96% 26.94% 27.26% 23.90% 25.62% 37.95% 32.42% 41.68% 36.64% 32.70% 34.49%
Profit (Net Income) Margin		 16.05% 19.74% 19.63% 14.44% 20.13% 29.41% 26.99% 32.98% 29.30% 25.49% 27.18%
Tax Burden Percent		 73.08% 73.25% 72.03% 60.42% 78.56% 77.50% 83.25% 79.14% 79.96% 77.95% 78.80%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 26.92% 26.75% 27.97% 39.58% 21.44% 22.50% 16.75% 20.86% 20.04% 22.05% 21.20%
Return on Invested Capital (ROIC)		 3.85% 4.19% 4.42% 3.72% 4.90% 6.40% 6.03% 7.40% 7.18% 6.33% 5.51%
ROIC Less NNEP Spread (ROIC-NNEP)		 3.85% 4.19% 4.42% 3.72% 4.90% 6.40% 6.03% 7.40% 7.18% 6.33% 5.51%
Return on Net Nonoperating Assets (RNNOA)		 3.44% 4.62% 3.43% 1.91% 2.35% 3.25% 2.81% 2.31% 2.33% 3.13% 2.39%
Return on Equity (ROE)		 7.29% 8.81% 7.85% 5.63% 7.25% 9.65% 8.84% 9.72% 9.51% 9.46% 7.90%
Cash Return on Invested Capital (CROIC)		 -24.43% -9.19% 0.15% -32.38% -39.53% -38.84% -1.48% 15.95% -3.30% -39.02% 14.31%
Operating Return on Assets (OROA)		 0.89% 1.07% 1.16% 1.14% 1.12% 1.63% 1.39% 1.44% 1.26% 1.34% 1.22%
Return on Assets (ROA)		 0.65% 0.79% 0.84% 0.69% 0.88% 1.26% 1.15% 1.14% 1.00% 1.04% 0.96%
Return on Common Equity (ROCE)		 5.92% 7.30% 7.32% 5.63% 7.25% 9.65% 8.84% 9.72% 9.51% 9.46% 7.90%
Return on Equity Simple (ROE_SIMPLE)		 6.87% 8.51% 6.55% 4.77% 5.84% 8.05% 8.14% 9.49% 9.73% 7.95% 7.68%
Net Operating Profit after Tax (NOPAT)		 6.61 8.80 10 11 21 44 53 64 63 75 77
NOPAT Margin		 16.05% 19.74% 19.63% 14.44% 20.13% 29.41% 26.99% 32.98% 29.30% 25.49% 27.18%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 54.82% 53.39% 47.34% 51.75% 44.17% 40.05% 39.43% 42.98% 42.61% 39.99% 44.74%
Operating Expenses to Revenue		 74.59% 72.14% 71.53% 75.41% 72.37% 59.54% 54.66% 58.89% 60.75% 62.40% 64.17%
Earnings before Interest and Taxes (EBIT)		 9.05 12 14 18 27 56 63 81 79 97 98
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 12 15 17 22 31 60 71 95 93 104 110
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.84 0.99 0.85 1.51 1.09 1.09 0.93 1.10 1.10 0.92 1.08
Price to Tangible Book Value (P/TBV)		 0.99 1.18 0.93 1.66 1.45 1.54 1.23 1.44 1.53 1.44 1.61
Price to Revenue (P/Rev)		 1.60 1.92 2.54 4.56 3.75 4.00 3.08 3.84 3.33 2.95 3.82
Price to Earnings (P/E)		 10.57 10.14 13.53 31.61 18.64 13.59 11.41 11.64 11.35 11.59 14.05
Dividend Yield		 1.21% 0.95% 0.63% 0.50% 0.75% 0.98% 1.50% 1.63% 2.49% 3.20% 2.88%
Earnings Yield		 9.46% 9.87% 7.39% 3.16% 5.36% 7.36% 8.76% 8.59% 8.81% 8.63% 7.12%
Enterprise Value to Invested Capital (EV/IC)		 0.71 0.81 0.63 1.06 0.76 0.86 0.33 0.00 0.92 0.71 0.89
Enterprise Value to Revenue (EV/Rev)		 3.36 4.09 2.87 4.87 3.82 4.85 1.52 0.00 3.93 3.49 4.22
Enterprise Value to EBITDA (EV/EBITDA)		 11.40 11.96 8.72 16.12 13.14 12.02 4.14 0.00 9.12 9.89 10.87
Enterprise Value to EBIT (EV/EBIT)		 15.28 15.17 10.53 20.38 14.90 12.77 4.69 0.00 10.73 10.67 12.23
Enterprise Value to NOPAT (EV/NOPAT)		 20.91 20.71 14.63 33.72 18.97 16.48 5.63 0.00 13.42 13.69 15.52
Enterprise Value to Operating Cash Flow (EV/OCF)		 19.60 24.14 18.46 16.58 12.78 16.13 5.78 0.00 9.38 9.52 14.01
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 423.32 0.00 0.00 0.00 0.00 0.00 0.00 0.00 5.98
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.04 1.17 0.51 0.51 0.46 0.54 0.40 0.00 0.43 0.54 0.33
Long-Term Debt to Equity		 1.04 1.17 0.51 0.51 0.22 0.15 0.40 0.00 0.22 0.13 0.12
Financial Leverage		 0.89 1.10 0.78 0.51 0.48 0.51 0.47 0.31 0.32 0.49 0.43
Leverage Ratio		 11.22 11.21 9.39 8.20 8.22 7.66 7.65 8.50 9.48 9.06 8.19
Compound Leverage Factor		 11.22 11.21 9.39 8.20 8.22 7.66 7.65 8.50 9.48 9.06 8.19
Debt to Total Capital		 50.90% 53.84% 33.92% 33.96% 31.37% 35.18% 28.68% 0.00% 29.85% 35.11% 24.92%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 16.15% 25.56% 0.00% 0.00% 14.11% 26.67% 15.68%
Long-Term Debt to Total Capital		 50.90% 53.84% 33.92% 33.96% 15.21% 9.62% 28.68% 0.00% 15.73% 8.44% 9.24%
Preferred Equity to Total Capital		 8.74% 7.64% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 40.36% 38.52% 66.08% 66.04% 68.63% 64.83% 71.32% 100.00% 70.15% 64.89% 75.08%
Debt to EBITDA		 8.22 7.92 4.67 5.15 5.42 4.92 3.63 0.00 2.97 4.91 3.03
Net Debt to EBITDA		 4.54 5.21 1.01 1.01 0.23 2.10 -4.24 0.00 1.40 1.51 1.03
Long-Term Debt to EBITDA		 8.22 7.92 4.67 5.15 2.63 1.35 3.63 0.00 1.57 1.18 1.12
Debt to NOPAT		 15.08 13.71 7.84 10.77 7.82 6.74 4.94 0.00 4.37 6.80 4.32
Net Debt to NOPAT		 8.34 9.02 1.70 2.12 0.33 2.88 -5.78 0.00 2.06 2.10 1.47
Long-Term Debt to NOPAT		 15.08 13.71 7.84 10.77 3.79 1.84 4.94 0.00 2.31 1.64 1.60
Noncontrolling Interest Sharing Ratio		 18.88% 17.15% 6.64% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -42 -19 0.35 -92 -171 -266 -13 138 -29 -465 200
Operating Cash Flow to CapEx		 713.77% 613.31% 296.12% 461.99% 776.44% 566.40% 1,163.82% 1,343.37% 607.88% 4,775.88% 2,953.78%
Free Cash Flow to Firm to Interest Expense		 -14.11 -6.02 0.08 -13.37 -11.34 -9.94 -0.48 7.02 -1.28 -5.08 1.48
Operating Cash Flow to Interest Expense		 2.37 2.35 1.86 3.13 2.09 1.67 1.92 4.86 3.99 1.18 0.63
Operating Cash Flow Less CapEx to Interest Expense		 2.04 1.97 1.23 2.45 1.82 1.38 1.75 4.50 3.33 1.16 0.61
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.04 0.04 0.04 0.05 0.04 0.04 0.04 0.03 0.03 0.04 0.04
Fixed Asset Turnover		 1.23 1.30 1.51 1.81 1.74 1.72 1.82 0.00 0.00 1.86 1.65
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 196 224 234 337 529 839 904 830 922 1,462 1,339
Invested Capital Turnover		 0.24 0.21 0.23 0.26 0.24 0.22 0.22 0.22 0.25 0.25 0.20
Increase / (Decrease) in Invested Capital		 49 28 9.77 103 192 309 65 -74 92 541 -123
Enterprise Value (EV)		 138 182 148 358 403 721 296 -173 844 1,033 1,198
Market Capitalization		 66 86 131 336 396 595 599 747 714 875 1,085
Book Value per Share		 $14.89 $15.97 $28.33 $19.88 $24.48 $28.90 $30.12 $32.17 $26.91 $30.53 $32.23
Tangible Book Value per Share		 $12.58 $13.42 $25.80 $18.09 $18.43 $20.47 $22.79 $24.72 $19.41 $19.55 $21.59
Total Capital		 196 224 234 337 529 839 904 676 922 1,462 1,339
Total Debt		 100 121 79 114 166 295 259 0.00 275 513 334
Total Long-Term Debt		 100 121 79 114 81 81 259 0.00 145 123 124
Net Debt		 55 79 17 22 6.91 126 -303 -920 130 158 113
Capital Expenditures (CapEx)		 0.99 1.23 2.71 4.68 4.06 7.89 4.40 7.13 15 2.27 2.90
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 100 121 79 114 166 295 259 154 275 513 334
Total Depreciation and Amortization (D&A)		 3.08 3.22 2.93 4.64 3.62 3.52 8.41 14 14 7.67 12
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.27 $1.64 $1.86 $1.12 $1.63 $0.00 $0.00 $0.00 $2.86 $2.41 $2.45
Adjusted Weighted Average Basic Shares Outstanding		 5.38M 5.43M 9.14M 12.34M 17.27M 18.85M 21.02M 20.49M 31.06M 31.23M 31.25M
Adjusted Diluted Earnings per Share		 $1.25 $1.62 $1.64 $1.11 $1.62 $0.00 $0.00 $0.00 $2.84 $2.39 $2.44
Adjusted Weighted Average Diluted Shares Outstanding		 5.38M 5.43M 9.14M 12.34M 17.27M 18.85M 21.02M 20.49M 31.06M 31.23M 31.25M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 5.38M 5.43M 9.14M 12.34M 17.27M 18.85M 21.02M 20.49M 31.06M 31.23M 31.25M
Normalized Net Operating Profit after Tax (NOPAT)		 6.61 8.80 10 11 32 49 55 65 68 83 80
Normalized NOPAT Margin		 16.05% 19.74% 19.63% 14.44% 30.42% 32.68% 28.41% 33.64% 31.68% 27.88% 28.22%
Pre Tax Income Margin		 21.96% 26.94% 27.26% 23.90% 25.62% 37.95% 32.42% 41.68% 36.64% 32.70% 34.49%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 3.04 3.75 3.26 2.54 1.79 2.11 2.37 4.12 3.49 1.06 0.72
NOPAT to Interest Expense		 2.22 2.74 2.35 1.54 1.41 1.64 1.97 3.26 2.79 0.82 0.57
EBIT Less CapEx to Interest Expense		 2.71 3.36 2.63 1.87 1.52 1.82 2.20 3.76 2.83 1.03 0.70
NOPAT Less CapEx to Interest Expense		 1.89 2.36 1.72 0.86 1.14 1.34 1.80 2.90 2.13 0.80 0.55
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 16.72% 12.74% 12.20% 13.34% 12.05% 11.86% 16.36% 18.69% 25.87% 36.51% 39.72%
Augmented Payout Ratio		 16.72% 16.58% 12.20% 13.34% 13.16% 23.82% 31.72% 26.75% 61.12% 36.51% 39.72%

Quarterly Metrics And Ratios for First Bancshares

This table displays calculated financial ratios and metrics derived from First Bancshares' official financial filings.

Metric Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 6/30/2022 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 8.31% 17.25% 13.57% 55.71% 54.54% 37.58% 7.07% -9.70% -9.36% -10.96% 19.38%
EBITDA Growth		 -2.75% -16.21% 7.49% -2.30% 32.16% 61.64% -4.60% 25.17% 2.93% -10.25% -19.16%
EBIT Growth		 -1.08% -12.62% 9.41% -1.59% 57.75% 74.23% -29.44% 27.44% -16.27% -23.77% 54.48%
NOPAT Growth		 0.98% -12.95% 3.19% -3.32% 50.95% 73.47% -32.20% 26.78% -17.17% -23.76% 65.64%
Net Income Growth		 0.98% -12.95% 3.19% -3.32% 50.95% 73.47% -32.20% 26.78% -17.17% -23.76% 65.64%
EPS Growth		 2.70% -19.74% 0.00% -35.80% -1.32% 26.23% -46.97% 25.00% -17.33% -23.38% 65.71%
Operating Cash Flow Growth		 -13.77% 40.11% -3.18% -79.86% 53.26% 57.41% 54.30% 119.90% -25.11% -23.00% -37.11%
Free Cash Flow Firm Growth		 224.26% -128.56% -184.04% -841.19% -602.70% -1,437.98% -601.15% 123.79% 108.56% 100.73% 126.73%
Invested Capital Growth		 -12.34% 5.30% 11.06% 77.39% 85.40% 55.01% 58.65% -8.50% -2.28% 1.15% -8.43%
Revenue Q/Q Growth		 1.95% 14.59% -3.65% 38.35% 1.18% 2.01% -25.01% 16.68% 1.56% 0.20% 0.54%
EBITDA Q/Q Growth		 -10.55% -8.01% 15.47% 2.82% 21.01% 12.51% -31.85% 34.90% -0.49% -1.90% -38.62%
EBIT Q/Q Growth		 -9.41% -6.47% 13.02% 2.77% 45.22% 3.30% -54.23% 85.62% -4.59% -5.96% -7.24%
NOPAT Q/Q Growth		 -6.39% -10.86% 16.03% -0.14% 46.14% 2.44% -54.65% 86.73% -4.51% -5.72% -1.47%
Net Income Q/Q Growth		 -6.39% -10.86% 16.03% -0.14% 46.14% 2.44% -54.65% 86.73% -4.51% -5.72% -1.47%
EPS Q/Q Growth		 -6.17% -19.74% 8.20% -21.21% 44.23% 2.67% -54.55% 85.71% -4.62% -4.84% -1.69%
Operating Cash Flow Q/Q Growth		 -3.72% 18.83% -30.98% -74.49% 632.53% 22.06% -32.35% -63.65% 149.49% 25.49% -44.75%
Free Cash Flow Firm Q/Q Growth		 54.33% -125.24% -160.03% -631.81% -4.67% 22.78% -18.54% 124.83% -62.35% -93.41% 4,236.89%
Invested Capital Q/Q Growth		 -4.07% 21.42% 7.63% 41.49% 0.26% 1.52% 10.16% -18.40% 7.08% 5.09% -0.27%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 43.65% 35.05% 42.00% 31.22% 37.33% 41.18% 37.42% 43.27% 42.39% 41.51% 25.34%
EBIT Margin		 37.84% 30.89% 36.23% 26.91% 38.63% 39.12% 23.88% 37.98% 35.68% 33.49% 30.90%
Profit (Net Income) Margin		 31.03% 24.14% 29.07% 20.98% 30.31% 30.44% 18.41% 29.46% 27.70% 26.06% 25.54%
Tax Burden Percent		 82.00% 78.16% 80.24% 77.97% 78.47% 77.82% 77.10% 77.56% 77.63% 77.83% 82.67%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 18.00% 21.84% 19.76% 22.03% 21.53% 22.18% 22.90% 22.44% 22.37% 22.17% 17.33%
Return on Invested Capital (ROIC)		 8.20% 6.02% 7.13% 4.99% 8.14% 8.14% 4.57% 6.81% 6.02% 5.32% 5.18%
ROIC Less NNEP Spread (ROIC-NNEP)		 8.20% 6.02% 7.13% 4.99% 8.14% 8.14% 4.57% 6.81% 6.02% 5.32% 5.18%
Return on Net Nonoperating Assets (RNNOA)		 1.95% 1.77% 2.31% 1.85% 3.08% 3.57% 2.26% 2.35% 2.30% 2.12% 2.24%
Return on Equity (ROE)		 10.15% 7.79% 9.44% 6.85% 11.22% 11.71% 6.83% 9.16% 8.32% 7.44% 7.42%
Cash Return on Invested Capital (CROIC)		 21.70% 2.31% -3.30% -49.68% -52.85% -35.75% -39.02% 15.27% 8.16% 4.09% 14.31%
Operating Return on Assets (OROA)		 1.31% 1.07% 1.24% 0.92% 1.50% 1.59% 0.98% 1.37% 1.27% 1.15% 1.10%
Return on Assets (ROA)		 1.07% 0.84% 1.00% 0.72% 1.18% 1.24% 0.75% 1.06% 0.98% 0.90% 0.91%
Return on Common Equity (ROCE)		 10.15% 7.79% 9.44% 6.85% 11.22% 11.71% 6.83% 9.16% 8.32% 7.44% 7.42%
Return on Equity Simple (ROE_SIMPLE)		 11.51% 10.04% 0.00% 6.96% 7.83% 8.99% 0.00% 8.31% 7.79% 6.91% 0.00%
Net Operating Profit after Tax (NOPAT)		 16 14 16 16 24 24 11 21 20 19 18
NOPAT Margin		 31.03% 24.14% 29.07% 20.98% 30.31% 30.44% 18.41% 29.46% 27.70% 26.06% 25.54%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 41.50% 39.41% 47.21% 37.23% 36.14% 35.18% 53.62% 43.16% 42.94% 43.21% 48.95%
Operating Expenses to Revenue		 60.98% 61.72% 62.51% 58.90% 59.78% 59.63% 74.04% 62.02% 62.00% 65.11% 67.51%
Earnings before Interest and Taxes (EBIT)		 19 18 20 21 30 31 14 27 25 24 22
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 22 20 24 24 29 33 22 30 30 30 18
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.97 1.08 1.10 0.85 0.85 0.89 0.92 0.83 0.83 0.98 1.08
Price to Tangible Book Value (P/TBV)		 1.35 1.52 1.53 1.22 1.22 1.28 1.44 1.16 1.15 1.35 1.61
Price to Revenue (P/Rev)		 2.73 3.23 3.33 3.14 2.84 2.75 2.95 2.76 2.86 3.66 3.82
Price to Earnings (P/E)		 8.44 10.76 11.35 12.19 10.90 9.94 11.59 9.97 10.63 14.24 14.05
Dividend Yield		 2.48% 2.50% 2.49% 3.19% 3.32% 3.33% 3.20% 3.69% 3.76% 3.10% 2.88%
Earnings Yield		 11.84% 9.30% 8.81% 8.20% 9.17% 10.06% 8.63% 10.03% 9.41% 7.02% 7.12%
Enterprise Value to Invested Capital (EV/IC)		 0.47 0.87 0.92 0.64 0.75 0.78 0.71 0.58 0.71 0.83 0.89
Enterprise Value to Revenue (EV/Rev)		 1.67 3.57 3.93 3.43 3.63 3.54 3.49 2.39 3.21 4.08 4.22
Enterprise Value to EBITDA (EV/EBITDA)		 3.53 7.89 9.12 9.20 10.07 9.41 9.89 6.00 7.79 9.89 10.87
Enterprise Value to EBIT (EV/EBIT)		 4.13 9.07 10.73 10.61 10.97 10.07 10.67 6.72 9.25 12.34 12.23
Enterprise Value to NOPAT (EV/NOPAT)		 5.16 11.90 13.42 13.32 13.94 12.82 13.69 8.64 11.92 15.91 15.52
Enterprise Value to Operating Cash Flow (EV/OCF)		 4.01 8.19 9.38 11.61 11.76 10.50 9.52 6.04 8.56 11.60 14.01
Enterprise Value to Free Cash Flow (EV/FCFF)		 2.03 38.42 0.00 0.00 0.00 0.00 0.00 3.62 8.56 20.37 5.98
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.26 0.38 0.43 0.45 0.45 0.48 0.54 0.24 0.31 0.33 0.33
Long-Term Debt to Equity		 0.26 0.23 0.22 0.17 0.14 0.14 0.13 0.13 0.13 0.12 0.12
Financial Leverage		 0.24 0.29 0.32 0.37 0.38 0.44 0.49 0.35 0.38 0.40 0.43
Leverage Ratio		 9.46 9.28 9.48 9.56 9.52 9.44 9.06 8.61 8.46 8.30 8.19
Compound Leverage Factor		 9.46 9.28 9.48 9.56 9.52 9.44 9.06 8.61 8.46 8.30 8.19
Debt to Total Capital		 20.54% 27.43% 29.85% 31.07% 31.22% 32.41% 35.11% 19.56% 23.94% 24.66% 24.92%
Short-Term Debt to Total Capital		 0.00% 10.51% 14.11% 19.22% 21.41% 22.75% 26.67% 9.22% 14.27% 15.45% 15.68%
Long-Term Debt to Total Capital		 20.54% 16.93% 15.73% 11.85% 9.80% 9.66% 8.44% 10.35% 9.67% 9.21% 9.24%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 79.46% 72.57% 70.15% 68.93% 68.78% 67.59% 64.89% 80.44% 76.06% 75.34% 75.08%
Debt to EBITDA		 1.54 2.50 2.97 4.48 4.19 3.91 4.91 2.03 2.64 2.94 3.03
Net Debt to EBITDA		 -2.25 0.76 1.40 0.78 2.20 2.12 1.51 -0.93 0.85 1.04 1.03
Long-Term Debt to EBITDA		 1.54 1.54 1.57 1.71 1.32 1.17 1.18 1.07 1.07 1.10 1.12
Debt to NOPAT		 2.25 3.76 4.37 6.48 5.80 5.33 6.80 2.93 4.04 4.73 4.32
Net Debt to NOPAT		 -3.28 1.14 2.06 1.13 3.04 2.88 2.10 -1.33 1.30 1.67 1.47
Long-Term Debt to NOPAT		 2.25 2.32 2.31 2.47 1.82 1.59 1.64 1.55 1.63 1.77 1.60
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 115 -29 -76 -553 -579 -447 -530 131 50 3.26 142
Operating Cash Flow to CapEx		 756.12% 526.47% 286.14% 1,389.25% 1,842.81% 0.00% 2,997.98% 1,427.34% 13,509.52% 3,327.21% 1,725.54%
Free Cash Flow to Firm to Interest Expense		 30.72 -6.15 -7.55 -35.86 -28.69 -17.89 -17.05 3.83 1.49 0.09 4.23
Operating Cash Flow to Interest Expense		 5.94 5.59 1.82 0.30 1.69 1.67 0.91 0.30 0.77 0.93 0.53
Operating Cash Flow Less CapEx to Interest Expense		 5.15 4.53 1.19 0.28 1.60 1.70 0.88 0.28 0.76 0.90 0.50
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.03 0.03 0.03 0.03 0.04 0.04 0.04 0.04 0.04 0.03 0.04
Fixed Asset Turnover		 1.67 1.62 0.00 0.00 1.77 1.85 1.86 0.00 1.61 1.57 1.65
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 705 856 922 1,304 1,308 1,328 1,462 1,193 1,278 1,343 1,339
Invested Capital Turnover		 0.26 0.25 0.25 0.24 0.27 0.27 0.25 0.23 0.22 0.20 0.20
Increase / (Decrease) in Invested Capital		 -99 43 92 569 602 471 541 -111 -30 15 -123
Enterprise Value (EV)		 333 743 844 831 981 1,035 1,033 689 903 1,113 1,198
Market Capitalization		 545 671 714 760 767 802 875 796 805 996 1,085
Book Value per Share		 $27.36 $25.86 $26.91 $28.86 $28.97 $28.85 $30.53 $30.74 $31.13 $32.42 $32.23
Tangible Book Value per Share		 $19.70 $18.42 $19.41 $20.11 $20.19 $20.08 $19.55 $22.01 $22.40 $23.69 $21.59
Total Capital		 705 856 922 1,301 1,308 1,328 1,462 1,193 1,278 1,343 1,339
Total Debt		 145 235 275 404 408 430 513 233 306 331 334
Total Long-Term Debt		 145 145 145 154 128 128 123 123 124 124 124
Net Debt		 -212 71 130 71 214 233 158 -106 98 117 113
Capital Expenditures (CapEx)		 2.94 5.02 6.38 0.34 1.85 -0.85 0.94 0.72 0.19 0.96 1.03
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 145 235 275 408 408 430 513 233 306 331 334
Total Depreciation and Amortization (D&A)		 2.95 2.42 3.23 3.34 -1.02 1.65 8.13 3.70 4.77 5.71 -3.98
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.77 $0.61 $0.67 $0.52 $0.76 $0.78 $0.35 $0.66 $0.62 $0.59 $0.58
Adjusted Weighted Average Basic Shares Outstanding		 24.03M 24.03M 31.06M 31.05M 31.10M 31.09M 31.23M 31.22M 31.20M 31.20M 31.25M
Adjusted Diluted Earnings per Share		 $0.76 $0.61 $0.66 $0.52 $0.75 $0.77 $0.35 $0.65 $0.62 $0.59 $0.58
Adjusted Weighted Average Diluted Shares Outstanding		 24.03M 24.03M 31.06M 31.05M 31.10M 31.09M 31.23M 31.22M 31.20M 31.20M 31.25M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 24.03M 24.03M 31.06M 31.05M 31.10M 31.09M 31.23M 31.22M 31.20M 31.20M 31.25M
Normalized Net Operating Profit after Tax (NOPAT)		 17 17 17 19 27 25 12 21 20 21 19
Normalized NOPAT Margin		 32.92% 29.03% 30.78% 24.80% 34.41% 31.01% 19.17% 29.47% 28.08% 28.89% 26.45%
Pre Tax Income Margin		 37.84% 30.89% 36.23% 26.91% 38.63% 39.12% 23.88% 37.98% 35.68% 33.49% 30.90%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 5.13 3.80 2.03 1.35 1.50 1.25 0.46 0.77 0.76 0.69 0.66
NOPAT to Interest Expense		 4.21 2.97 1.63 1.06 1.18 0.98 0.36 0.60 0.59 0.54 0.55
EBIT Less CapEx to Interest Expense		 4.34 2.74 1.39 1.33 1.41 1.29 0.43 0.75 0.76 0.66 0.63
NOPAT Less CapEx to Interest Expense		 3.42 1.91 0.99 1.03 1.09 1.01 0.33 0.58 0.59 0.51 0.52
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 20.87% 23.80% 25.87% 30.91% 31.80% 30.89% 36.51% 36.07% 39.24% 43.39% 39.72%
Augmented Payout Ratio		 55.25% 59.33% 61.12% 31.40% 32.24% 30.89% 36.51% 36.07% 39.27% 43.39% 39.72%

Financials Breakdown Chart

Key Financial Trends

First Bancshares Inc (NASDAQ: FBMS) has demonstrated solid financial performance over the last four years through its quarterly results up to Q4 2024. Here are the key trends observed from the analysis of its income statements, cash flow statements, and balance sheets:

  • Consistent Revenue Growth: Total revenue has shown steady growth from approximately $50.8 million in Q2 2022 to $71.6 million in Q4 2024, driven by increases in both interest and non-interest income streams.
  • Improvement in Net Interest Income: Net interest income improved substantially from $42.1 million in Q2 2022 to $60.1 million in Q4 2024, reflecting strengthening loan and lease interest income amidst modestly rising interest expenses.
  • Growing Non-Interest Income: Non-interest income rose from $8.7 million in Q2 2022 to $11.5 million in Q4 2024, with notable increases in service charges on deposit accounts and capital gains from investments.
  • Increasing Net Income and EPS: Net income attributable to common shareholders increased markedly from $15.8 million (Q2 2022) to $18.3 million (Q4 2024), with diluted EPS rising from $0.76 to $0.58 (note that EPS figures fluctuate quarter-over-quarter but show improvement over the years).
  • Strong Operating Cash Flow: The company generated solid net cash from operating activities, recording over $17.7 million in Q4 2024, demonstrating operational efficiency and cash generation capability.
  • Managing Credit Loss Provisions: Provision for credit losses fluctuated quarterly, peaking notably in early 2023 (e.g., $11 million in Q1 2023) but trending lower to around $1.14 million recently, indicating a cautious but improving credit outlook.
  • Stable Loan Portfolio: Loans and leases increased steadily from around $3.1 billion in Q2 2022 to over $5.3 billion by Q3 2024, indicating growth in core lending activities while maintaining a consistent allowance for loan losses ratio.
  • Dividend Stability: Cash dividends per common share were modest and steadily increased from $0.18 in Q2 2022 to $0.25 in Q4 2024, reflecting a stable return policy to shareholders.
  • Increasing Non-Interest Expenses: Total non-interest expenses rose from approximately $30.9 million in Q2 2022 to nearly $48.4 million in Q4 2024, driven by rising salaries, occupancy, and restructuring charges, which may pressure future profitability if not controlled.
  • Volatility in Investment Securities Activity: The company’s cash flow from investing activities shows significant variability, with heavy purchases and sales of investment securities quarter-to-quarter contributing to large swings, indicating active portfolio management but potential income volatility.

Overall, First Bancshares exhibits sustained growth in core banking operations with improving profitability and solid cash flow generation, though expenses and investment activity volatility warrant monitoring. The company’s expanding loan book and stable dividend policy are positive indicators for shareholders, balanced by cautious credit management and expense control considerations.

09/19/25 10:12 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About First Bancshares' Financials

When does First Bancshares' financial year end?

According to the most recent income statement we have on file, First Bancshares' fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has First Bancshares' net income changed over the last 10 years?

First Bancshares' net income appears to be on an upward trend, with a most recent value of $77.19 million in 2024, rising from $6.61 million in 2014. The previous period was $75.46 million in 2023. Find out what analysts predict for First Bancshares in the coming months.

How has First Bancshares' revenue changed over the last 10 years?

Over the last 10 years, First Bancshares' total revenue changed from $41.20 million in 2014 to $284.03 million in 2024, a change of 589.4%.

How much debt does First Bancshares have?

First Bancshares' total liabilities were at $7.00 billion at the end of 2024, a 0.7% decrease from 2023, and a 601.7% increase since 2014.

How much cash does First Bancshares have?

In the past 10 years, First Bancshares' cash and equivalents has ranged from $23.63 million in 2015 to $224.20 million in 2023, and is currently $114.19 million as of their latest financial filing in 2024.

How has First Bancshares' book value per share changed over the last 10 years?

Over the last 10 years, First Bancshares' book value per share changed from 14.89 in 2014 to 32.23 in 2024, a change of 116.4%.


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This page (NASDAQ:FBMS) was last updated on 9/19/2025 by MarketBeat.com Staff
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