First Financial Bankshares (FFIN) Financials

$33.73 +0.34 (+1.02%)

Closing price 03:59 PM Eastern

Extended Trading

$33.76 +0.02 (+0.07%)

As of 04:10 PM Eastern

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

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

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

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

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

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

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%

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%

Financials Breakdown Chart

Key Financial Trends

First Financial Bankshares (NASDAQ: FFIN) has demonstrated steady financial performance over the past four years, as observed in its quarterly income statements, cash flow statements, and balance sheets.

Key Positive Trends:

Consistent growth in net interest income, rising from approximately $96.2 million in Q1 2023 to $118.8 million in Q1 2025, indicating strong core banking operations.
Stable and gradually increasing earnings per share (EPS), with diluted EPS growing from $0.37 in Q1 2023 to $0.43 in Q1 2025.
Net income attributable to common shareholders increased from $52.6 million in Q1 2023 to $61.3 million in Q1 2025, reflecting overall profitability improvement.
Solid and growing total assets from about $13.1 billion in Q1 2023 to approximately $14.3 billion in Q1 2025, showing expansion of the bank’s balance sheet.
Growth in deposits, with interest-bearing deposits increasing significantly from $7.0 billion in Q1 2023 to over $9.1 billion in Q1 2025, indicating strong customer confidence and funding base.
Effective management of loan portfolio with loans and leases, net of allowance, increasing from roughly $6.5 billion in Q1 2023 to $7.8 billion in Q1 2025.
Regular dividend payments maintained, with cash dividends per share steady at $0.18 over recent quarters, providing income to shareholders.
Strong operating cash flows, with net cash from continuing operating activities rising to $76.8 million in Q1 2025, supporting liquidity and operational strength.

Neutral Aspects:

Provision for credit losses fluctuates but remains relatively low compared to total loans, suggesting controlled credit risk; provision was $3.5 million in Q1 2025 compared to lower levels in prior quarters.
Amortization and depreciation expenses have increased moderately over time, reflecting ongoing investments in technology and infrastructure; amortization was $3.8 million in Q1 2025.
Accumulated other comprehensive loss remains sizable (approximately -$389 million in Q1 2025), which may reflect unrealized losses on securities or pension liabilities but does not currently impair equity significantly.

Key Areas of Concern:

Total non-interest expenses have increased slightly to $70.3 million in Q1 2025, which may pressure future profitability if expenses continue rising faster than revenues.
While overall net income is growing, quarterly fluctuations in non-interest income, particularly realized and unrealized capital gains on investments, cause some earnings variability.

Summary:

First Financial Bankshares shows a healthy and growing financial profile with improving net interest income and increasing loans and deposits, supporting expansion. Profitability indicators, including EPS and net income, have trended upward steadily over the past four years. The company maintains strong operating cash flow and a stable dividend payout, benefiting investors looking for income and growth.

However, careful monitoring is advised regarding rising operating expenses and volatility in non-interest income, which could impact earnings predictability. The sizeable accumulated other comprehensive loss is a factor to watch but is common in financial institutions with substantial investment securities.

Overall, First Financial Bankshares appears to be on a solid growth trajectory with manageable risks for retail investors contemplating investment in the company.

10/09/25 04:17 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About First Financial Bankshares' Financials

When does First Financial Bankshares' fiscal year end?

According to the most recent income statement we have on file, First Financial Bankshares' financial year ends in December. Their financial 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. Find out what analysts predict for First Financial Bankshares in the coming months.

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 10/9/2025 by MarketBeat.com Staff

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First Financial Bankshares (FFIN) Financials

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First Financial Bankshares (FFIN) Financials

Annual Income Statements for First Financial Bankshares

Quarterly Income Statements for First Financial Bankshares

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Quarterly Cash Flow Statements for First Financial Bankshares

Annual Balance Sheets for First Financial Bankshares

Quarterly Balance Sheets for First Financial Bankshares

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Quarterly Metrics And Ratios for First Financial Bankshares

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