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First Financial Bankshares (FFIN) Financials

First Financial Bankshares logo
$34.04 +0.42 (+1.25%)
Closing price 04:00 PM Eastern
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$34.04 0.00 (0.00%)
As of 06:01 PM Eastern
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Annual Income Statements for First Financial Bankshares

Annual Income Statements for First Financial Bankshares

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 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		 100 105 120 151 165 202 228 234 199 224
Consolidated Net Income / (Loss)		 100 105 120 151 165 202 228 234 199 224
Net Income / (Loss) Continuing Operations		 100 105 120 151 165 202 228 234 199 224
Total Pre-Tax Income 		132 136 147 178 198 242 272 281 243 272
Total Revenue		 291 312 328 375 398 490 513 533 492 551
Net Interest Income / (Expense)		 218 227 237 273 289 350 370 401 384 427
Total Interest Income		 222 232 246 292 319 364 376 433 528 629
Loans and Leases Interest Income		 152 161 167 200 225 263 272 296 406 503
Investment Securities Interest Income		 70 71 77 90 93 100 104 133 116 113
Federal Funds Sold and Securities Borrowed Interest Income		 0.21 0.34 1.68 1.63 1.89 0.95 0.74 3.70 6.01 13
Total Interest Expense		 4.09 5.45 9.29 19 30 14 6.04 31 144 202
Deposits Interest Expense		 3.64 4.50 8.21 17 27 13 5.71 26 125 195
Long-Term Debt Interest Expense		 - - - - - 1.13 0.34 5.19 19 7.38
Total Non-Interest Income		 73 85 91 102 108 140 142 132 108 124
Trust Fees by Commissions		 19 - 24 28 28 30 36 40 40 47
Service Charges on Deposit Accounts		 - - 19 22 22 21 21 25 25 25
Other Service Charges		 53 27 30 35 36 41 46 41 34 35
Net Realized & Unrealized Capital Gains on Investments		 0.15 1.89 16 16 19 48 34 23 6.34 14
Other Non-Interest Income		 1.05 56 1.13 0.94 2.09 0.86 4.04 2.84 2.06 3.01
Provision for Credit Losses		 9.69 10 6.53 5.67 2.97 20 -1.14 17 11 14
Total Non-Interest Expense		 149 166 174 191 197 228 242 235 238 265
Salaries and Employee Benefits		 81 91 95 105 112 135 142 134 132 153
Net Occupancy & Equipment Expense		 23 24 21 21 20 21 22 22 22 24
Property & Liability Insurance Claims		 3.15 2.68 2.22 2.33 1.09 1.76 3.13 3.71 7.75 6.50
Other Operating Expenses		 42 48 48 55 55 59 62 63 65 67
Amortization Expense		 0.56 0.74 7.55 7.29 8.32 11 13 11 11 14
Income Tax Expense		 31 31 27 28 33 40 44 46 44 48
Basic Earnings per Share		 $1.55 $1.59 $0.91 $1.11 $1.22 $1.42 $1.60 $1.64 $1.39 $1.56
Weighted Average Basic Shares Outstanding		 64.89M 66.01M 66.13M 67.82M 142.22M 142.25M 142.61M 142.70M 142.75M 142.98M
Diluted Earnings per Share		 $1.54 $1.59 $0.91 $1.11 $1.21 $1.42 $1.59 $1.64 $1.39 $1.56
Weighted Average Diluted Shares Outstanding		 64.89M 66.01M 66.13M 67.82M 142.22M 142.25M 142.61M 142.70M 142.75M 142.98M
Weighted Average Basic & Diluted Shares Outstanding		 64.89M 66.01M 66.13M 67.82M 142.22M 142.25M 142.61M 142.70M 142.75M 142.98M
Cash Dividends to Common per Share		 $0.62 $0.70 $0.75 - $0.47 $0.51 $0.58 $0.66 $0.71 $0.72

Quarterly Income Statements for First Financial Bankshares

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

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 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 3/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 59 59 53 51 50 46 53 52 55 62 61
Consolidated Net Income / (Loss)		 59 59 53 51 50 46 53 52 55 62 61
Net Income / (Loss) Continuing Operations		 59 59 53 51 50 46 53 52 55 62 61
Total Pre-Tax Income 		71 71 64 63 60 56 65 64 67 76 75
Total Revenue		 134 133 124 126 122 119 130 135 139 147 149
Net Interest Income / (Expense)		 103 104 96 96 94 98 100 103 107 116 119
Total Interest Income		 113 121 122 129 135 142 149 154 160 166 167
Loans and Leases Interest Income		 78 86 89 98 106 112 117 124 130 133 131
Investment Securities Interest Income		 34 34 31 29 28 28 28 28 28 30 33
Federal Funds Sold and Securities Borrowed Interest Income		 1.43 1.62 1.65 1.58 0.79 1.99 4.72 2.37 2.76 3.60 3.26
Total Interest Expense		 9.57 17 25 33 41 45 49 50 53 50 48
Deposits Interest Expense		 8.79 13 22 28 36 39 45 48 52 49 48
Federal Funds Purchased and Securities Sold Interest Expense		 - - 3.41 5.51 5.04 - 4.00 1.99 0.85 - 0.77
Total Non-Interest Income		 31 29 28 30 28 22 29 31 32 31 30
Trust Fees by Commissions		 10 10 9.85 9.88 10 11 11 12 12 13 13
Service Charges on Deposit Accounts		 6.40 6.40 6.04 6.31 6.51 6.52 6.25 6.01 6.43 6.31 6.18
Other Service Charges		 8.29 8.73 7.83 9.70 7.66 8.59 8.08 9.25 9.29 8.32 8.03
Net Realized & Unrealized Capital Gains on Investments		 5.28 3.03 3.95 3.58 3.16 -4.34 3.13 3.63 3.60 3.26 2.80
Other Non-Interest Income		 0.66 0.24 0.35 0.48 0.70 0.54 0.56 0.66 1.36 0.43 0.57
Provision for Credit Losses		 3.22 4.07 2.78 5.57 2.28 0.00 0.81 5.89 6.12 1.00 3.53
Total Non-Interest Expense		 59 58 57 58 60 63 64 65 66 70 70
Salaries and Employee Benefits		 34 33 31 32 33 36 37 37 37 42 42
Net Occupancy & Equipment Expense		 5.84 5.40 5.56 5.62 5.77 5.37 5.71 5.85 6.03 6.06 6.04
Property & Liability Insurance Claims		 0.92 1.02 1.65 1.42 1.57 3.11 1.97 1.51 1.51 1.51 1.58
Other Operating Expenses		 16 16 16 16 17 16 16 17 17 17 17
Amortization Expense		 2.87 2.72 2.54 2.75 2.67 3.25 3.16 3.32 3.87 3.80 3.83
Income Tax Expense		 12 12 12 12 11 10 11 11 12 14 14
Basic Earnings per Share		 $0.42 $0.41 $0.37 $0.36 $0.35 $0.31 $0.37 $0.37 $0.39 $0.43 $0.43
Weighted Average Basic Shares Outstanding		 142.64M 142.70M 142.73M 142.74M 142.71M 142.75M 142.84M 142.85M 142.91M 142.98M 143.05M
Diluted Earnings per Share		 $0.41 $0.42 $0.37 $0.36 $0.35 $0.31 $0.37 $0.37 $0.39 $0.43 $0.43
Weighted Average Diluted Shares Outstanding		 142.64M 142.70M 142.73M 142.74M 142.71M 142.75M 142.84M 142.85M 142.91M 142.98M 143.05M
Weighted Average Basic & Diluted Shares Outstanding		 142.64M 142.70M 142.73M 142.74M 142.71M 142.75M 142.84M 142.85M 142.91M 142.98M 143.05M
Cash Dividends to Common per Share		 $0.17 $0.17 $0.17 $0.18 $0.18 $0.18 $0.18 $0.18 $0.18 $0.18 $0.18

Annual Cash Flow Statements for First Financial Bankshares

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 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		 19 -16 116 -124 34 446 -200 -198 206 227
Net Cash From Operating Activities		 109 161 190 186 202 211 355 324 285 310
Net Cash From Continuing Operating Activities		 109 161 190 186 202 211 355 324 285 310
Net Income / (Loss) Continuing Operations		 100 105 120 151 165 202 228 234 199 224
Consolidated Net Income / (Loss)		 100 105 120 151 165 202 228 234 199 224
Provision For Loan Losses		 9.69 10 6.53 5.67 2.97 20 -1.14 17 11 14
Depreciation Expense		 11 12 13 13 12 13 13 13 13 13
Amortization Expense		 28 29 30 27 26 42 68 71 52 45
Non-Cash Adjustments to Reconcile Net Income		 0.17 -1.22 -1.22 -4.10 -3.17 -13 3.63 -5.52 9.76 4.24
Changes in Operating Assets and Liabilities, net		 -40 6.40 21 -5.87 0.40 -53 44 -5.66 0.53 9.91
Net Cash From Investing Activities		 -384 -252 -398 -273 -448 -1,262 -2,612 -838 127 -737
Net Cash From Continuing Investing Activities		 -384 -252 -398 -273 -448 -1,262 -2,612 -838 127 -737
Purchase of Investment Securities		 -3,219 -3,807 -4,917 -3,952 -4,980 -7,663 -11,119 -5,451 -4,731 -7,382
Sale and/or Maturity of Investments		 2,753 3,553 4,519 3,660 4,532 6,340 8,507 4,613 4,859 6,645
Net Cash From Financing Activities		 295 75 324 -37 279 1,498 2,056 316 -206 654
Net Cash From Continuing Financing Activities		 295 75 324 -37 279 1,498 2,056 316 -206 654
Net Change in Deposits		 96 288 484 -124 423 1,523 1,891 439 133 961
Repayment of Debt		 235 -170 - - - 49 - - -238 -207
Repurchase of Common Equity		 - - - 0.00 0.00 -8.01 0.00 -9.45 -2.74 0.00
Payment of Dividends		 -39 -45 -49 -54 -61 -70 -80 -91 -100 -103
Other Financing Activities, Net		 - - 0.25 3.86 4.29 4.72 3.99 6.22 2.13 3.16
Cash Interest Paid		 - - - - - 14 6.20 31 135 205
Cash Income Taxes Paid		 - - - - - 44 40 45 47 41

Quarterly Cash Flow Statements for First Financial Bankshares

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

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 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 3/31/2025
Net Change in Cash & Equivalents		 -100 -35 116 -167 109 148 64 -231 214 180 164
Net Cash From Operating Activities		 96 70 96 57 73 59 76 69 81 84 77
Net Cash From Continuing Operating Activities		 96 70 96 57 73 59 76 69 81 84 77
Net Income / (Loss) Continuing Operations		 59 59 53 51 50 46 53 52 55 62 61
Consolidated Net Income / (Loss)		 59 59 53 51 50 46 53 52 55 62 61
Provision For Loan Losses		 3.22 4.07 2.78 5.57 2.28 - 0.81 5.89 6.12 1.00 3.53
Depreciation Expense		 3.15 3.17 3.07 3.19 3.02 3.29 3.22 3.23 3.47 3.50 3.50
Amortization Expense		 17 15 14 13 13 12 11 12 11 11 9.51
Non-Cash Adjustments to Reconcile Net Income		 0.02 -3.44 0.07 2.64 1.65 5.41 1.23 1.61 1.65 -0.24 2.02
Changes in Operating Assets and Liabilities, net		 14 -8.05 24 -19 3.35 -7.91 5.83 -5.90 2.78 7.20 -3.08
Net Cash From Investing Activities		 -221 188 122 -26 -8.45 40 -70 -222 -109 -337 -142
Net Cash From Continuing Investing Activities		 -221 188 122 -26 -8.45 40 -70 -222 -109 -337 -142
Purchase of Investment Securities		 -397 -1,445 -144 -205 -222 -4,161 -3,714 -908 -317 -2,443 -5,377
Sale and/or Maturity of Investments		 177 1,633 265 179 214 4,201 3,645 686 208 2,107 5,235
Net Cash From Financing Activities		 25 -293 -102 -198 45 49 57 -78 242 432 229
Net Cash From Continuing Financing Activities		 25 -293 -102 -198 45 49 57 -78 242 432 229
Net Change in Deposits		 19 -137 -69 -129 -91 422 152 119 347 343 368
Issuance of Debt		 - - -9.58 -45 164 - -70 -171 -79 - -113
Payment of Dividends		 -0.02 -24 -24 -24 -26 -26 -26 -26 -26 -26 -26
Other Financing Activities, Net		 1.63 0.24 0.88 0.21 0.39 0.65 1.62 0.16 0.60 0.77 0.80
Cash Interest Paid		 9.50 16 23 29 36 48 51 49 53 52 49

Annual Balance Sheets for First Financial Bankshares

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 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		 6,665 6,810 7,255 7,732 8,262 10,905 13,102 12,974 13,106 13,979
Cash and Due from Banks		 179 205 210 208 232 211 205 293 281 260
Interest Bearing Deposits at Other Banks		 90 49 163 41 48 518 324 37 255 503
Trading Account Securities		 2,734 2,861 3,087 3,180 3,442 4,477 6,611 5,486 4,747 4,626
Loans and Leases, Net of Allowance		 3,275 3,312 3,437 3,902 4,142 5,104 5,326 6,366 7,060 7,815
Loans and Leases		 3,317 3,357 3,486 3,954 4,195 5,171 5,389 6,442 7,149 7,913
Allowance for Loan and Lease Losses		 42 46 48 51 52 67 63 76 89 98
Premises and Equipment, Net		 116 123 124 133 131 142 150 153 152 152
Intangible Assets		 144 144 141 175 174 318 317 316 315 314
Other Assets		 86 86 76 91 91 133 171 323 296 309
Total Liabilities & Shareholders' Equity		 6,665 6,810 7,255 7,732 8,262 10,905 13,102 12,974 13,106 13,979
Total Liabilities		 5,860 5,972 6,332 6,679 7,035 9,226 11,343 11,708 11,607 12,373
Non-Interest Bearing Deposits		 1,746 1,718 2,042 2,116 2,065 2,983 3,780 4,062 3,436 3,348
Interest Bearing Deposits		 3,444 3,761 3,921 4,064 4,539 5,693 6,786 6,944 7,703 8,751
Short-Term Debt		 - - - 469 381 430 671 24 22 136
Long-Term Debt		 616 446 331 - - - - 619 382 61
Other Long-Term Liabilities		 44 36 25 15 34 102 106 60 64 77
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 805 838 923 1,053 1,227 1,678 1,759 1,266 1,499 1,607
Total Preferred & Common Equity		 805 838 923 1,053 1,227 1,678 1,759 1,266 1,499 1,607
Total Common Equity		 805 838 923 1,053 1,227 1,678 1,759 1,266 1,499 1,607
Common Stock		 370 373 379 444 452 671 678 679 683 691
Retained Earnings		 388 447 517 607 708 837 982 1,122 1,220 1,340
Treasury Stock		 0.00 -6.67 -7.15 -7.51 -8.22 -9.13 -10 -11 -12 -13
Accumulated Other Comprehensive Income / (Loss)		 47 18 27 2.85 68 170 99 -535 -403 -424
Other Equity Adjustments		 - 6.67 7.15 7.51 8.22 9.13 10 11 12 13

Quarterly Balance Sheets for First Financial Bankshares

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

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025
Total Assets		 13,110 13,008 12,825 12,777 13,191 13,164 13,583 14,312
Cash and Due from Banks		 227 225 255 208 222 263 296 233
Federal Funds Sold		 - 0.00 0.00 0.00 12 2.80 0.00 12
Interest Bearing Deposits at Other Banks		 138 221 24 180 365 103 287 682
Trading Account Securities		 5,764 5,311 5,085 4,665 4,675 4,593 4,632 4,775
Loans and Leases, Net of Allowance		 6,181 6,495 6,778 6,995 7,140 7,520 7,623 7,845
Loans and Leases		 6,255 6,576 6,778 6,995 7,229 7,520 7,723 7,946
Allowance for Loan and Lease Losses		 74 81 - - 90 - 100 101
Premises and Equipment, Net		 153 154 153 153 152 153 151 151
Intangible Assets		 316 315 315 315 314 314 314 314
Other Assets		 330 287 302 352 310 310 278 301
Total Liabilities & Shareholders' Equity		 13,110 13,008 12,825 12,777 13,191 13,164 13,583 14,312
Total Liabilities		 11,978 11,635 11,458 11,537 11,700 11,645 11,921 12,632
Non-Interest Bearing Deposits		 4,201 3,891 3,578 3,478 3,348 3,289 3,303 3,357
Interest Bearing Deposits		 6,941 7,045 7,229 7,239 7,942 8,120 8,453 9,110
Short-Term Debt		 775 25 28 130 27 24 26 27
Other Short-Term Payables		 0.00 24 26 26 26 26 - 26
Long-Term Debt		 - 608 559 622 307 139 58 57
Other Long-Term Liabilities		 61 42 37 41 50 48 81 56
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 1,133 1,373 1,367 1,240 1,491 1,519 1,662 1,680
Total Preferred & Common Equity		 1,133 1,373 1,367 1,240 1,491 1,519 1,662 1,680
Total Common Equity		 1,133 1,373 1,367 1,240 1,491 1,519 1,662 1,680
Common Stock		 677 681 682 681 685 687 688 693
Retained Earnings		 1,088 1,150 1,175 1,199 1,247 1,274 1,304 1,376
Treasury Stock		 -11 -11 -11 -12 -12 -12 -13 -13
Accumulated Other Comprehensive Income / (Loss)		 -632 -458 -490 -640 -441 -442 -330 -389
Other Equity Adjustments		 11 11 11 12 12 12 13 13

Annual Metrics And Ratios for First Financial Bankshares

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 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		 11.49% 7.22% 5.04% 14.29% 6.14% 23.22% 4.64% 4.01% -7.74% 11.98%
EBITDA Growth		 15.26% 3.42% 7.88% 14.59% 7.93% 26.17% 18.92% 3.14% -15.42% 7.07%
EBIT Growth		 11.15% 3.12% 8.28% 21.05% 11.14% 22.39% 12.22% 3.27% -13.38% 11.73%
NOPAT Growth		 12.08% 4.38% 14.89% 25.14% 9.41% 22.58% 12.64% 3.04% -15.14% 12.33%
Net Income Growth		 12.08% 4.38% 14.89% 25.14% 9.41% 22.58% 12.64% 3.04% -15.14% 12.33%
EPS Growth		 10.79% 3.25% 14.89% 25.14% 9.01% 17.36% 11.97% 3.14% -15.24% 12.23%
Operating Cash Flow Growth		 -16.98% 47.35% 18.37% -2.06% 8.64% 4.06% 68.58% -8.70% -12.17% 8.71%
Free Cash Flow Firm Growth		 -393.83% 189.01% -37.85% -178.26% 166.55% -480.39% 68.25% 900.38% -73.01% 58.10%
Invested Capital Growth		 35.48% -9.64% -2.33% 21.39% 5.69% 31.07% 15.28% -21.48% -0.28% -5.22%
Revenue Q/Q Growth		 3.62% 0.31% 1.53% 3.28% 1.95% 0.00% 0.68% 0.54% -2.59% 5.28%
EBITDA Q/Q Growth		 2.79% 1.09% 1.86% 2.86% 2.31% 0.00% 0.57% 0.01% -5.53% 6.08%
EBIT Q/Q Growth		 2.21% 1.13% 2.35% 4.32% 2.45% 0.00% -1.66% 1.71% -5.70% 7.93%
NOPAT Q/Q Growth		 2.66% 1.43% 8.55% 1.55% 1.82% 0.00% -1.36% 1.44% -5.99% 7.89%
Net Income Q/Q Growth		 2.66% 1.43% 8.55% 1.55% 1.82% 0.00% -1.36% 1.44% -5.99% 7.89%
EPS Q/Q Growth		 4.05% 1.92% 8.55% 1.55% 1.68% 0.00% -1.85% 1.86% -7.33% 8.33%
Operating Cash Flow Q/Q Growth		 -13.26% 12.41% 1.18% -3.96% 17.82% 0.00% 3.96% -5.65% -3.76% 9.07%
Free Cash Flow Firm Q/Q Growth		 -39.67% 1,563.66% -35.95% -494.12% -94.91% 85.98% -225.41% 7.11% 60.56% -28.73%
Invested Capital Q/Q Growth		 9.88% -7.10% -0.34% 10.57% 0.00% -0.68% 2.01% 0.05% -4.45% 3.31%
Profitability Metrics		 - - - - - - - - - -
EBITDA Margin		 58.66% 56.58% 58.11% 58.26% 59.24% 60.66% 68.94% 68.36% 62.67% 59.92%
EBIT Margin		 45.30% 43.57% 44.91% 47.57% 49.82% 49.48% 53.06% 52.69% 49.47% 49.36%
Profit (Net Income) Margin		 34.50% 33.58% 36.73% 40.22% 41.46% 41.25% 44.40% 43.99% 40.46% 40.58%
Tax Burden Percent		 76.15% 77.08% 81.78% 84.55% 83.22% 83.36% 83.67% 83.48% 81.78% 82.22%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 23.85% 22.92% 18.22% 15.46% 16.78% 16.64% 16.33% 16.52% 18.22% 17.78%
Return on Invested Capital (ROIC)		 8.13% 7.75% 9.49% 10.85% 10.53% 10.87% 10.03% 10.81% 10.44% 12.06%
ROIC Less NNEP Spread (ROIC-NNEP)		 8.13% 7.75% 9.49% 10.85% 10.53% 10.87% 10.03% 10.81% 10.44% 12.06%
Return on Net Nonoperating Assets (RNNOA)		 5.38% 5.01% 4.19% 4.39% 3.92% 3.04% 3.21% 4.69% 3.95% 2.33%
Return on Equity (ROE)		 13.51% 12.76% 13.67% 15.25% 14.45% 13.91% 13.24% 15.50% 14.39% 14.39%
Cash Return on Invested Capital (CROIC)		 -22.00% 17.88% 11.84% -8.47% 5.00% -16.02% -4.17% 34.88% 10.72% 17.42%
Operating Return on Assets (OROA)		 2.11% 2.02% 2.09% 2.38% 2.48% 2.53% 2.27% 2.15% 1.87% 2.01%
Return on Assets (ROA)		 1.60% 1.56% 1.71% 2.01% 2.06% 2.11% 1.90% 1.80% 1.53% 1.65%
Return on Common Equity (ROCE)		 13.45% 12.76% 13.67% 15.25% 14.45% 13.91% 13.24% 15.50% 14.39% 14.39%
Return on Equity Simple (ROE_SIMPLE)		 12.47% 12.50% 13.04% 14.30% 13.43% 12.04% 12.94% 18.52% 13.27% 13.91%
Net Operating Profit after Tax (NOPAT)		 100 105 120 151 165 202 228 234 199 224
NOPAT Margin		 34.50% 33.58% 36.73% 40.22% 41.46% 41.25% 44.40% 43.99% 40.46% 40.58%
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%
SG&A Expenses to Revenue		 35.58% 36.75% 35.38% 33.77% 33.34% 31.83% 32.04% 29.36% 31.36% 32.13%
Operating Expenses to Revenue		 51.37% 53.16% 53.09% 50.91% 49.44% 46.54% 47.16% 44.04% 48.37% 48.13%
Earnings before Interest and Taxes (EBIT)		 132 136 147 178 198 242 272 281 243 272
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 171 177 190 218 235 297 353 364 308 330
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 2.13 3.13 2.89 3.37 3.58 2.87 3.91 3.70 2.82 3.21
Price to Tangible Book Value (P/TBV)		 2.60 3.78 3.42 4.04 4.17 3.54 4.77 4.93 3.57 3.99
Price to Revenue (P/Rev)		 5.90 8.41 8.15 9.47 11.05 9.84 13.41 8.80 8.60 9.35
Price to Earnings (P/E)		 17.09 25.05 22.18 23.55 26.66 23.85 30.21 20.00 21.27 23.05
Dividend Yield		 2.38% 1.76% 1.86% 1.57% 1.44% 1.50% 1.20% 2.01% 2.39% 2.00%
Earnings Yield		 5.85% 3.99% 4.51% 4.25% 3.75% 4.19% 3.31% 5.00% 4.70% 4.34%
Enterprise Value to Invested Capital (EV/IC)		 1.45 2.19 2.10 2.47 2.79 2.14 2.89 2.62 2.15 2.54
Enterprise Value to Revenue (EV/Rev)		 7.06 9.02 8.02 10.06 11.30 9.23 13.69 9.38 8.33 8.33
Enterprise Value to EBITDA (EV/EBITDA)		 12.04 15.94 13.80 17.26 19.08 15.21 19.86 13.72 13.30 13.90
Enterprise Value to EBIT (EV/EBIT)		 15.59 20.69 17.85 21.14 22.68 18.64 25.80 17.80 16.85 16.87
Enterprise Value to NOPAT (EV/NOPAT)		 20.47 26.84 21.82 25.00 27.26 22.37 30.83 21.33 20.60 20.52
Enterprise Value to Operating Cash Flow (EV/OCF)		 18.84 17.50 13.81 20.21 22.19 21.45 19.76 15.42 14.39 14.81
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 11.63 17.48 0.00 57.40 0.00 0.00 6.61 20.07 14.20
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 0.76 0.53 0.36 0.45 0.31 0.26 0.38 0.51 0.27 0.12
Long-Term Debt to Equity		 0.76 0.53 0.36 0.00 0.00 0.00 0.00 0.49 0.25 0.04
Financial Leverage		 0.66 0.65 0.44 0.40 0.37 0.28 0.32 0.43 0.38 0.19
Leverage Ratio		 8.42 8.20 7.99 7.58 7.01 6.60 6.98 8.62 9.43 8.72
Compound Leverage Factor		 8.42 8.20 7.99 7.58 7.01 6.60 6.98 8.62 9.43 8.72
Debt to Total Capital		 43.34% 34.73% 26.40% 30.80% 23.71% 20.40% 27.62% 33.67% 21.23% 10.92%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 30.80% 23.71% 20.40% 27.62% 1.24% 1.16% 7.52%
Long-Term Debt to Total Capital		 43.34% 34.73% 26.40% 0.00% 0.00% 0.00% 0.00% 32.43% 20.07% 3.41%
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%
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%
Common Equity to Total Capital		 56.66% 65.27% 73.60% 69.20% 76.29% 79.60% 72.38% 66.33% 78.77% 89.08%
Debt to EBITDA		 3.61 2.53 1.74 2.15 1.62 1.45 1.90 1.76 1.31 0.60
Net Debt to EBITDA		 1.99 1.06 -0.22 1.00 0.42 -1.01 0.40 0.86 -0.43 -1.72
Long-Term Debt to EBITDA		 3.61 2.53 1.74 0.00 0.00 0.00 0.00 1.70 1.24 0.19
Debt to NOPAT		 6.13 4.25 2.75 3.11 2.31 2.13 2.95 2.74 2.03 0.88
Net Debt to NOPAT		 3.38 1.79 -0.36 1.45 0.60 -1.48 0.63 1.33 -0.67 -2.53
Long-Term Debt to NOPAT		 6.13 4.25 2.75 0.00 0.00 0.00 0.00 2.64 1.92 0.27
Noncontrolling Interest Sharing Ratio		 0.40% 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)		 -272 242 150 -118 78 -298 -95 757 204 323
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 -66.45 44.36 16.18 -6.21 2.60 -20.90 -15.65 24.07 1.42 1.60
Operating Cash Flow to Interest Expense		 26.69 29.49 20.49 9.84 6.73 14.79 58.78 10.31 1.97 1.53
Operating Cash Flow Less CapEx to Interest Expense		 26.69 29.49 20.49 9.84 6.73 14.79 58.78 10.31 1.97 1.53
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.05 0.05 0.05 0.05 0.05 0.05 0.04 0.04 0.04 0.04
Fixed Asset Turnover		 2.66 2.62 2.66 2.91 3.01 3.58 3.51 3.52 3.23 3.63
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 1,421 1,284 1,254 1,522 1,609 2,108 2,430 1,908 1,903 1,804
Invested Capital Turnover		 0.24 0.23 0.26 0.27 0.25 0.26 0.23 0.25 0.26 0.30
Increase / (Decrease) in Invested Capital		 372 -137 -30 268 87 500 322 -522 -5.26 -99
Enterprise Value (EV)		 2,055 2,813 2,627 3,766 4,492 4,519 7,016 5,001 4,099 4,586
Market Capitalization		 1,715 2,625 2,670 3,548 4,393 4,818 6,874 4,689 4,232 5,152
Book Value per Share		 $12.20 $12.68 $13.93 $15.55 $9.03 $11.80 $12.35 $8.87 $10.50 $11.24
Tangible Book Value per Share		 $10.01 $10.51 $11.80 $12.97 $7.76 $9.56 $10.12 $6.66 $8.30 $9.04
Total Capital		 1,421 1,284 1,254 1,522 1,609 2,108 2,430 1,908 1,903 1,804
Total Debt		 616 446 331 469 381 430 671 643 404 197
Total Long-Term Debt		 616 446 331 0.00 0.00 0.00 0.00 619 382 61
Net Debt		 339 188 -43 219 99 -299 143 312 -133 -566
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 616 446 331 469 381 430 671 643 404 197
Total Depreciation and Amortization (D&A)		 39 41 43 40 37 55 81 84 65 58
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.78 $0.80 $0.91 $1.12 $1.22 $1.42 $1.60 $1.64 $1.39 $1.56
Adjusted Weighted Average Basic Shares Outstanding		 132.05M 132.25M 135.15M 135.63M 142.22M 142.25M 142.61M 142.70M 142.75M 142.98M
Adjusted Diluted Earnings per Share		 $0.77 $0.80 $0.91 $1.11 $1.21 $1.42 $1.59 $1.64 $1.39 $1.56
Adjusted Weighted Average Diluted Shares Outstanding		 132.05M 132.25M 135.15M 135.63M 142.22M 142.25M 142.61M 142.70M 142.75M 142.98M
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
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 132.05M 132.25M 135.15M 135.63M 142.22M 142.25M 142.61M 142.70M 142.75M 142.98M
Normalized Net Operating Profit after Tax (NOPAT)		 100 105 120 151 165 202 228 234 199 224
Normalized NOPAT Margin		 34.50% 33.58% 36.73% 40.22% 41.46% 41.25% 44.40% 43.99% 40.46% 40.58%
Pre Tax Income Margin		 45.30% 43.57% 44.91% 47.57% 49.82% 49.48% 53.06% 52.69% 49.47% 49.36%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 32.25 24.94 15.85 9.41 6.58 17.02 45.01 8.93 1.69 1.34
NOPAT to Interest Expense		 24.56 19.22 12.96 7.96 5.48 14.18 37.66 7.46 1.38 1.11
EBIT Less CapEx to Interest Expense		 32.25 24.94 15.85 9.41 6.58 17.02 45.01 8.93 1.69 1.34
NOPAT Less CapEx to Interest Expense		 24.56 19.22 12.96 7.96 5.48 14.18 37.66 7.46 1.38 1.11
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 38.62% 42.86% 40.67% 35.76% 37.05% 34.81% 35.03% 38.94% 50.24% 46.04%
Augmented Payout Ratio		 38.62% 42.86% 40.67% 35.76% 37.05% 38.77% 35.03% 42.97% 51.61% 46.04%

Quarterly Metrics And Ratios for First Financial Bankshares

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

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 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 3/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.44% 2.20% -4.62% -7.56% -8.86% -9.86% 4.29% 6.94% 14.12% 23.10% 14.96%
EBITDA Growth		 -0.80% 0.06% -9.26% -16.20% -15.97% -20.21% -2.28% -1.05% 7.23% 26.54% 11.24%
EBIT Growth		 1.23% 7.18% -3.10% -13.52% -15.44% -20.79% 0.97% 1.62% 11.48% 35.67% 15.84%
NOPAT Growth		 0.70% 6.02% -6.08% -15.90% -16.49% -21.63% 1.58% 3.17% 11.61% 35.54% 14.89%
Net Income Growth		 0.70% 6.02% -6.08% -15.90% -16.49% -21.63% 1.58% 3.17% 11.61% 35.54% 14.89%
EPS Growth		 0.00% 7.69% -5.13% -14.29% -14.63% -26.19% 0.00% 2.78% 11.43% 38.71% 16.22%
Operating Cash Flow Growth		 -18.28% -21.75% 10.65% -20.33% -23.92% -15.94% -21.14% 20.52% 10.44% 43.83% 1.56%
Free Cash Flow Firm Growth		 366.19% 317.73% 1,198.02% -17.17% -106.53% -91.18% -20.54% 68.43% 963.09% 215.60% -47.38%
Invested Capital Growth		 -19.95% -21.48% -10.75% -6.79% 4.43% -0.28% -8.99% -13.98% -12.35% -5.22% -3.38%
Revenue Q/Q Growth		 -1.47% -1.15% -6.24% 1.22% -2.86% -2.24% 8.48% 3.79% 3.66% 5.46% 1.31%
EBITDA Q/Q Growth		 -3.49% -2.09% -9.20% -2.34% -3.22% -7.02% 11.20% -1.11% 4.88% 9.72% -2.24%
EBIT Q/Q Growth		 -1.35% -1.02% -9.13% -2.54% -3.55% -7.27% 15.83% -1.91% 5.81% 12.85% -1.10%
NOPAT Q/Q Growth		 -1.91% -1.13% -10.40% -3.22% -2.59% -7.22% 16.13% -1.71% 5.38% 12.68% -1.56%
Net Income Q/Q Growth		 -1.91% -1.13% -10.40% -3.22% -2.59% -7.22% 16.13% -1.71% 5.38% 12.68% -1.56%
EPS Q/Q Growth		 -2.38% 2.44% -11.90% -2.70% -2.78% -11.43% 19.35% 0.00% 5.41% 10.26% 0.00%
Operating Cash Flow Q/Q Growth		 34.05% -27.27% 37.29% -40.48% 28.01% -19.64% 28.80% -9.03% 17.30% 4.65% -9.05%
Free Cash Flow Firm Q/Q Growth		 128.98% 8.65% -49.36% -34.26% -118.05% 246.82% 356.08% 39.36% -7.51% -46.31% -23.96%
Invested Capital Q/Q Growth		 -9.07% 0.05% 5.11% -2.54% 1.88% -4.45% -4.07% -7.88% 3.81% 3.31% -2.20%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 68.02% 67.38% 65.25% 62.95% 62.72% 59.64% 61.14% 58.25% 58.93% 61.31% 59.16%
EBIT Margin		 53.27% 53.34% 51.70% 49.78% 49.42% 46.88% 50.05% 47.30% 48.28% 51.66% 50.43%
Profit (Net Income) Margin		 44.25% 44.26% 42.29% 40.44% 40.55% 38.48% 41.19% 39.01% 39.66% 42.37% 41.17%
Tax Burden Percent		 83.07% 82.97% 81.81% 81.23% 82.04% 82.09% 82.31% 82.47% 82.14% 82.01% 81.62%
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		 16.93% 17.03% 18.19% 18.77% 17.96% 17.91% 17.70% 17.53% 17.86% 17.99% 18.38%
Return on Invested Capital (ROIC)		 10.94% 10.88% 10.48% 10.31% 10.50% 9.93% 10.69% 10.85% 11.10% 12.59% 13.08%
ROIC Less NNEP Spread (ROIC-NNEP)		 10.94% 10.88% 10.48% 10.31% 10.50% 9.93% 10.69% 10.85% 11.10% 12.59% 13.08%
Return on Net Nonoperating Assets (RNNOA)		 5.43% 4.72% 5.10% 5.19% 6.75% 3.76% 3.61% 2.82% 3.19% 2.44% 1.72%
Return on Equity (ROE)		 16.37% 15.60% 15.58% 15.50% 17.26% 13.69% 14.30% 13.67% 14.30% 15.03% 14.80%
Cash Return on Invested Capital (CROIC)		 32.93% 34.88% 22.23% 17.96% 6.53% 10.72% 19.84% 26.10% 24.25% 17.42% 16.33%
Operating Return on Assets (OROA)		 2.20% 2.18% 2.07% 1.97% 1.93% 1.77% 1.90% 1.84% 1.92% 2.10% 2.09%
Return on Assets (ROA)		 1.83% 1.81% 1.69% 1.60% 1.58% 1.45% 1.56% 1.52% 1.57% 1.72% 1.71%
Return on Common Equity (ROCE)		 16.37% 15.60% 15.58% 15.50% 17.26% 13.69% 14.30% 13.67% 14.30% 15.03% 14.80%
Return on Equity Simple (ROE_SIMPLE)		 20.41% 0.00% 16.83% 16.20% 17.07% 0.00% 13.40% 13.26% 12.46% 0.00% 13.78%
Net Operating Profit after Tax (NOPAT)		 59 59 53 51 50 46 53 52 55 62 61
NOPAT Margin		 44.25% 44.26% 42.29% 40.44% 40.55% 38.48% 41.19% 39.01% 39.66% 42.37% 41.17%
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		 29.63% 28.94% 29.78% 29.72% 31.66% 34.41% 32.70% 32.20% 31.21% 32.43% 32.33%
Operating Expenses to Revenue		 44.33% 43.59% 46.07% 45.79% 48.72% 53.12% 49.33% 48.32% 47.33% 47.66% 47.20%
Earnings before Interest and Taxes (EBIT)		 71 71 64 63 60 56 65 64 67 76 75
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 91 89 81 79 77 71 79 78 82 90 88
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 5.05 3.70 3.22 2.90 2.82 2.82 3.12 2.78 3.18 3.21 3.06
Price to Tangible Book Value (P/TBV)		 7.01 4.93 4.17 3.77 3.79 3.57 3.95 3.50 3.92 3.99 3.76
Price to Revenue (P/Rev)		 10.80 8.80 8.37 7.68 6.94 8.60 9.36 8.34 10.11 9.35 9.01
Price to Earnings (P/E)		 24.77 20.00 19.10 17.91 16.55 21.27 23.29 20.94 25.52 23.05 22.19
Dividend Yield		 1.59% 2.01% 2.20% 2.48% 2.85% 2.39% 2.21% 2.44% 1.95% 2.00% 2.00%
Earnings Yield		 4.04% 5.00% 5.24% 5.58% 6.04% 4.70% 4.29% 4.78% 3.92% 4.34% 4.51%
Enterprise Value to Invested Capital (EV/IC)		 3.22 2.62 2.29 2.19 1.94 2.15 2.40 2.39 2.74 2.54 2.43
Enterprise Value to Revenue (EV/Rev)		 11.57 9.38 8.73 8.27 7.66 8.33 8.82 7.93 9.15 8.33 7.53
Enterprise Value to EBITDA (EV/EBITDA)		 16.83 13.72 12.92 12.54 11.85 13.30 14.32 13.13 15.39 13.90 12.66
Enterprise Value to EBIT (EV/EBIT)		 22.21 17.80 16.50 15.89 14.99 16.85 17.98 16.38 19.01 16.87 15.21
Enterprise Value to NOPAT (EV/NOPAT)		 26.54 21.33 19.91 19.31 18.27 20.60 21.95 19.92 23.11 20.52 18.54
Enterprise Value to Operating Cash Flow (EV/OCF)		 17.85 15.42 13.80 13.41 13.06 14.39 16.58 14.52 16.86 14.81 13.81
Enterprise Value to Free Cash Flow (EV/FCFF)		 8.68 6.61 9.73 11.75 30.39 20.07 11.54 8.45 10.56 14.20 14.65
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.68 0.51 0.46 0.43 0.61 0.27 0.22 0.11 0.05 0.12 0.05
Long-Term Debt to Equity		 0.00 0.49 0.44 0.41 0.50 0.25 0.21 0.09 0.03 0.04 0.03
Financial Leverage		 0.50 0.43 0.49 0.50 0.64 0.38 0.34 0.26 0.29 0.19 0.13
Leverage Ratio		 8.95 8.62 9.20 9.67 10.91 9.43 9.15 9.00 9.08 8.72 8.67
Compound Leverage Factor		 8.95 8.62 9.20 9.67 10.91 9.43 9.15 9.00 9.08 8.72 8.67
Debt to Total Capital		 40.61% 33.67% 31.56% 30.06% 37.73% 21.23% 18.30% 9.67% 4.79% 10.92% 4.74%
Short-Term Debt to Total Capital		 40.61% 1.24% 1.23% 1.44% 6.51% 1.16% 1.47% 1.41% 1.49% 7.52% 1.53%
Long-Term Debt to Total Capital		 0.00% 32.43% 30.33% 28.62% 31.22% 20.07% 16.83% 8.26% 3.30% 3.41% 3.21%
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		 59.39% 66.33% 68.44% 69.94% 62.27% 78.77% 81.70% 90.33% 95.21% 89.08% 95.26%
Debt to EBITDA		 2.13 1.76 1.78 1.72 2.30 1.31 1.09 0.53 0.27 0.60 0.25
Net Debt to EBITDA		 1.12 0.86 0.52 0.91 1.11 -0.43 -0.87 -0.68 -1.61 -1.72 -2.49
Long-Term Debt to EBITDA		 0.00 1.70 1.71 1.64 1.91 1.24 1.00 0.45 0.19 0.19 0.17
Debt to NOPAT		 3.35 2.74 2.74 2.65 3.55 2.03 1.67 0.81 0.40 0.88 0.36
Net Debt to NOPAT		 1.77 1.33 0.81 1.39 1.72 -0.67 -1.33 -1.03 -2.41 -2.53 -3.64
Long-Term Debt to NOPAT		 0.00 2.64 2.63 2.53 2.94 1.92 1.54 0.69 0.28 0.27 0.24
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)		 535 581 294 193 -35 51 234 326 301 162 123
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 55.85 33.97 11.66 5.84 -0.85 1.15 4.75 6.46 5.70 3.26 2.54
Operating Cash Flow to Interest Expense		 10.04 4.09 3.80 1.72 1.77 1.31 1.54 1.37 1.53 1.70 1.59
Operating Cash Flow Less CapEx to Interest Expense		 10.04 4.09 3.80 1.72 1.77 1.31 1.54 1.37 1.53 1.70 1.59
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04
Fixed Asset Turnover		 3.53 3.52 3.47 3.42 3.30 3.23 3.25 3.31 3.44 3.63 3.77
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 1,907 1,908 2,006 1,955 1,992 1,903 1,825 1,682 1,746 1,804 1,764
Invested Capital Turnover		 0.25 0.25 0.25 0.26 0.26 0.26 0.26 0.28 0.28 0.30 0.32
Increase / (Decrease) in Invested Capital		 -475 -522 -242 -142 84 -5.26 -180 -273 -246 -99 -62
Enterprise Value (EV)		 6,134 5,001 4,601 4,275 3,866 4,099 4,387 4,011 4,787 4,586 4,292
Market Capitalization		 5,725 4,689 4,414 3,967 3,503 4,232 4,653 4,218 5,287 5,152 5,136
Book Value per Share		 $7.95 $8.87 $9.62 $9.58 $8.69 $10.50 $10.44 $10.63 $11.64 $11.24 $11.75
Tangible Book Value per Share		 $5.73 $6.66 $7.41 $7.37 $6.48 $8.30 $8.24 $8.43 $9.44 $9.04 $9.56
Total Capital		 1,907 1,908 2,006 1,955 1,992 1,903 1,825 1,682 1,746 1,804 1,764
Total Debt		 775 643 633 588 752 404 334 163 84 197 84
Total Long-Term Debt		 0.00 619 608 559 622 382 307 139 58 61 57
Net Debt		 409 312 187 309 363 -133 -266 -207 -500 -566 -843
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
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)		 775 643 633 588 752 404 334 163 84 197 84
Total Depreciation and Amortization (D&A)		 20 19 17 17 16 15 14 15 15 14 13
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.42 $0.41 $0.37 $0.36 $0.35 $0.31 $0.37 $0.37 $0.39 $0.43 $0.43
Adjusted Weighted Average Basic Shares Outstanding		 142.64M 142.70M 142.73M 142.74M 142.71M 142.75M 142.84M 142.85M 142.91M 142.98M 143.05M
Adjusted Diluted Earnings per Share		 $0.41 $0.42 $0.37 $0.36 $0.35 $0.31 $0.37 $0.37 $0.39 $0.43 $0.43
Adjusted Weighted Average Diluted Shares Outstanding		 142.64M 142.70M 142.73M 142.74M 142.71M 142.75M 142.84M 142.85M 142.91M 142.98M 143.05M
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		 142.64M 142.70M 142.73M 142.74M 142.71M 142.75M 142.84M 142.85M 142.91M 142.98M 143.05M
Normalized Net Operating Profit after Tax (NOPAT)		 59 59 53 51 50 46 53 52 55 62 61
Normalized NOPAT Margin		 44.25% 44.26% 42.29% 40.44% 40.55% 38.48% 41.19% 39.01% 39.66% 42.37% 41.17%
Pre Tax Income Margin		 53.27% 53.34% 51.70% 49.78% 49.42% 46.88% 50.05% 47.30% 48.28% 51.66% 50.43%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 7.46 4.14 2.55 1.89 1.47 1.25 1.32 1.26 1.27 1.53 1.56
NOPAT to Interest Expense		 6.20 3.43 2.08 1.54 1.20 1.03 1.08 1.04 1.05 1.25 1.27
EBIT Less CapEx to Interest Expense		 7.46 4.14 2.55 1.89 1.47 1.25 1.32 1.26 1.27 1.53 1.56
NOPAT Less CapEx to Interest Expense		 6.20 3.43 2.08 1.54 1.20 1.03 1.08 1.04 1.05 1.25 1.27
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 38.27% 38.94% 40.77% 32.87% 46.53% 50.24% 50.75% 51.08% 49.67% 46.04% 44.48%
Augmented Payout Ratio		 42.35% 42.97% 40.77% 32.87% 47.82% 51.61% 50.75% 51.08% 49.67% 46.04% 44.48%

Key Financial Trends

First Financial Bankshares (NASDAQ: FFIN) has reported its Q1 2025 financial results showing steady performance compared to the previous quarters and a positive trend over the last year. Here is a summary of the key financial highlights and trends based on the last four years of quarterly data:

  • Revenue Growth: Total revenue for Q1 2025 was $149.02 million, marking a slight increase from $147.1 million in Q4 2024 and a continued growth trajectory when compared to earlier quarters.
  • Net Interest Income: The net interest income reached $118.8 million in Q1 2025, increasing from $116.1 million in Q4 2024. This improvement indicates stronger interest-earning assets and effective interest margin management.
  • Non-Interest Income Stability: Non-interest income was $30.23 million in Q1 2025, showing consistency with prior quarters and driven by steady trust fees, service charges, and capital gains.
  • Net Income and EPS Growth: Net income rose slightly to $61.35 million in Q1 2025 from $62.32 million in Q4 2024, with earnings per share holding steady at $0.43 (basic and diluted). The company has demonstrated stable profitability growth.
  • Strong Operating Cash Flow: In Q1 2025, net cash from operating activities increased to $76.83 million, reflecting effective earnings quality and good working capital management.
  • Provision for Credit Losses: The provision for credit losses in Q1 2025 increased to $3.53 million from $1.0 million in Q4 2024, suggesting slightly higher expected credit risks but still at manageable levels given the stable loan portfolio.
  • Deposit Growth: Deposits grew by approximately $367.6 million in Q1 2025, which is a healthy sign but also indicates the bank may need to carefully manage deposit costs and interest expenses.
  • Interest Expense Pressure: Interest expense for Q1 2025 was nearly $48.3 million, slightly down from $49.7 million in Q4 2024 but highlighting pressure on margins due to higher rates paid on deposits and borrowings.
  • Allowance for Loan and Lease Losses Increase: The allowance for loan and lease losses rose to $101.08 million in Q1 2025 compared to $89.56 million in Q1 2024, indicating conservative risk provisioning but warrants attention to loan portfolio quality.
  • Accumulated Other Comprehensive Loss: The accumulated other comprehensive loss increased to -$388.9 million in Q1 2025 from -$441.6 million in Q2 2024 (less negative but still substantial), reflecting market valuation fluctuations on securities which could affect equity if prolonged.

Long-Term Financial Health: Over the past four years, First Financial Bankshares has consistently increased its total assets, which reached $14.31 billion in Q1 2025 from about $12.8 billion in Q2 2024 and $13.1 billion in prior quarters, demonstrating solid growth in its loan and securities portfolio.

Capital Position: The company maintains a strong equity base of approximately $1.68 billion in Q1 2025, up from around $1.37 billion a year earlier. This is attributable to accumulated earnings and capital management, supporting its lending and growth capacity.

Expense Management: Non-interest expenses held steady around $70 million in Q1 2025, similar to recent quarters and managing growth in salaries, occupancy, and amortization expenses well relative to revenue increases.

Overall, First Financial Bankshares shows a solid earnings and asset growth trend with good operational cash flow and prudent risk management. Investors should monitor credit provisions and interest expense trends as interest rates evolve and keep an eye on any fluctuations in comprehensive income due to market conditions.

08/08/25 11:38 PMAI Generated. May Contain Errors.

Frequently Asked Questions About First Financial Bankshares' Financials

When does First Financial Bankshares' financial year end?

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

How has First Financial Bankshares' net income changed over the last 9 years?

First Financial Bankshares' net income appears to be on an upward trend, with a most recent value of $223.51 million in 2024, rising from $100.38 million in 2015. The previous period was $198.98 million in 2023. See where experts think First Financial Bankshares is headed by visiting First Financial Bankshares' forecast page.

How has First Financial Bankshares' revenue changed over the last 9 years?

Over the last 9 years, First Financial Bankshares' total revenue changed from $290.97 million in 2015 to $550.73 million in 2024, a change of 89.3%.

How much debt does First Financial Bankshares have?

First Financial Bankshares' total liabilities were at $12.37 billion at the end of 2024, a 6.6% increase from 2023, and a 111.1% increase since 2015.

How much cash does First Financial Bankshares have?

In the past 9 years, First Financial Bankshares' cash and equivalents has ranged from $179.14 million in 2015 to $293.29 million in 2022, and is currently $260.00 million as of their latest financial filing in 2024.

How has First Financial Bankshares' book value per share changed over the last 9 years?

Over the last 9 years, First Financial Bankshares' book value per share changed from 12.20 in 2015 to 11.24 in 2024, a change of -7.9%.


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This page (NASDAQ:FFIN) was last updated on 8/8/2025 by MarketBeat.com Staff
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