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.
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 |
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 |
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 |
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 |
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 |
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 |
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 |
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 demonstrated stable financial performance over the past four years with steady growth in key financial metrics, manageable expenses, and consistent dividend payments.
Positive Trends:
- Net interest income increased steadily from approximately $94 million in Q3 2023 to about $119 million in Q1 2025, indicating improved core banking profitability.
- Non-interest income remained healthy, hovering around $28 million to $30 million per quarter, supported by stable trust fees, service charges, and capital gains on investments.
- Net income from continuing operations showed growth from around $46 million in Q4 2022 to $61 million in Q1 2025, reflecting overall improvement in profitability.
- Total assets have risen consistently, reaching $14.3 billion by Q1 2025, driven by growth in loans and leases, and trading account securities.
- Loan and lease portfolios expanded from about $6.2 billion in Q3 2022 to nearly $7.9 billion by Q1 2025, suggesting successful lending growth.
- Allowance for loan and lease losses remained controlled relative to loan growth, indicating prudent risk management.
- The company maintained a consistent quarterly dividend payout of $0.18 per share, demonstrating a commitment to returning capital to shareholders.
- Net cash from operating activities consistently positive and increasing, reaching approximately $77 million in Q1 2025, indicating solid cash flow generation.
- Deposit balances grew from roughly $9 billion in Q3 2022 to over $12 billion by Q1 2025, indicating strong customer funding base.
Neutral Observations:
- Non-interest expenses have been relatively stable but remain significant, ranging between $57 million to $70 million per quarter, which may warrant monitoring for cost control.
- Provision for credit losses fluctuated between $0.001 million to $6 million per quarter, reflective of changing credit risk assessments but no major spikes yet.
- Long-term debt levels have decreased from over $600 million in 2023 to around $57 million by Q1 2025, which may indicate debt repayment but also affects leverage ratios.
- Accumulated other comprehensive income has shown significant negative balances exceeding $388 million by Q1 2025, which could impact equity and should be monitored for changes due to market factors.
- Net interest margin details are unavailable but rising net interest income alongside growing assets suggest steady margin performance.
Negative Considerations:
- Cash and due from banks and cash equivalents have shown fluctuations, at times decreasing significantly prior to Q1 2025, which could affect liquidity management.
- Cash dividends paid are steady but represent a meaningful cash outflow of around $25 million each quarter, which may constrain reinvestment depending on growth needs.
- Despite asset growth, net realized and unrealized capital gains have occasionally been negative, such as in Q4 2023 with a loss of about $4.3 million, indicating potential volatility in investment income.
- Non-interest expenses have increased modestly from 2022 to 2025, suggesting rising operating costs which could pressure profitability if unchecked.
Overall, First Financial Bankshares exhibits stable earnings growth, strong asset and deposit growth, and consistent cash flow generation. Investors should watch expense control, credit provisions, and comprehensive income volatility as key factors going forward.
08/29/25 06:10 AM ETAI Generated. May Contain Errors.