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First Hawaiian (FHB) Financials

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$26.13 -0.29 (-1.10%)
Closing price 05/13/2026 04:00 PM Eastern
Extended Trading
$26.14 +0.01 (+0.04%)
As of 08:55 AM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
Annual Income Statements for First Hawaiian

Annual Income Statements for First Hawaiian

This table shows First Hawaiian's 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 2025
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 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders
214 230 184 264 284 186 266 266 235 230 276
Consolidated Net Income / (Loss)
214 230 184 264 284 186 266 266 235 230 276
Net Income / (Loss) Continuing Operations
214 230 184 264 284 186 266 266 235 230 276
Total Pre-Tax Income
343 372 368 358 382 244 349 351 309 293 354
Total Operating Income
353 371 363 356 387 251 350 341 311 264 304
Total Gross Profit
641 709 547 554 584 444 574 582 586 529 558
Total Revenue
651 717 771 816 859 776 731 832 1,097 780 831
Operating Revenue
588 701 743 814 851 747 724 822 1,081 765 818
Other Revenue
62 16 28 2.38 7.89 29 7.24 9.94 15 14 13
Total Cost of Revenue
9.90 8.60 224 262 275 331 157 250 511 250 273
Operating Cost of Revenue
- - 205 240 261 210 196 248 484 236 246
Other Cost of Revenue
9.90 8.60 19 22 14 122 -39 1.39 27 15 27
Total Operating Expenses
287 337 184 198 197 193 223 241 275 266 253
Marketing Expense
5.47 6.13 6.19 4.81 6.91 5.70 6.11 8.00 7.62 7.72 8.57
Other Operating Expenses / (Income)
112 174 178 193 190 188 217 233 268 258 245
Total Other Income / (Expense), net
-10 0.43 5.80 2.29 -5.25 -7.13 -1.49 10 -1.44 29 50
Interest Expense
23 27 0.02 6.76 17 12 4.90 0.47 29 22 8.27
Interest & Investment Income
12 27 5.82 9.05 12 4.43 3.41 11 28 50 58
Income Tax Expense
129 142 185 94 97 58 83 86 74 62 78
Basic Earnings per Share
$1.53 $1.65 $1.32 $1.93 $2.14 $1.43 $2.06 $2.08 $1.84 $1.80 $2.21
Weighted Average Basic Shares Outstanding
139.46M 139.49M 139.56M 136.95M 133.08M 129.89M 128.96M 127.49M 127.57M 127.70M 124.79M
Diluted Earnings per Share
$1.53 $1.65 $1.32 $1.93 $2.13 $1.43 $2.05 $2.08 $1.84 $1.79 $2.20
Weighted Average Diluted Shares Outstanding
139.46M 139.49M 139.66M 137.11M 133.39M 130.22M 129.54M 127.98M 127.92M 128.33M 125.51M
Weighted Average Basic & Diluted Shares Outstanding
139.70M 139.50M 139.20M 137M 132.90M 130.92M 128.16M 127.69M 127.62M 126.42M 122.69M
Cash Dividends to Common per Share
- $0.62 $0.88 $0.96 $1.04 $1.04 $1.04 $1.04 $1.04 $1.04 $1.04

Quarterly Income Statements for First Hawaiian

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders
58 48 54 62 61 52 59 73 74 70 68
Consolidated Net Income / (Loss)
58 48 54 62 61 52 59 73 74 70 68
Net Income / (Loss) Continuing Operations
58 48 54 62 61 52 59 73 74 70 68
Total Pre-Tax Income
76 63 71 81 76 65 77 88 96 93 87
Total Operating Income
75 62 58 70 62 56 64 74 80 87 74
Total Gross Profit
139 148 128 134 129 121 127 139 144 147 138
Total Revenue
202 108 193 280 196 345 198 273 210 149 207
Operating Revenue
201 99 190 275 193 341 196 271 206 146 205
Other Revenue
1.67 9.29 3.11 4.29 2.60 4.45 2.52 2.99 3.78 3.57 2.56
Total Cost of Revenue
63 -40 66 145 67 224 71 134 66 2.18 69
Operating Cost of Revenue
56 -45 59 143 60 225 60 130 62 -5.52 64
Other Cost of Revenue
7.50 5.33 6.30 1.80 7.40 -0.75 11 4.50 4.50 7.70 5.00
Total Operating Expenses
63 86 70 64 67 65 63 65 64 60 64
Marketing Expense
2.29 1.44 2.61 1.77 1.81 1.53 2.18 2.04 2.03 2.33 2.25
Other Operating Expenses / (Income)
61 85 67 63 65 64 61 63 62 58 62
Total Other Income / (Expense), net
1.00 0.71 12 11 14 9.03 13 14 17 6.13 13
Interest Expense
8.00 7.02 0.43 0.52 0.39 2.94 0.32 0.24 0.20 7.52 0.10
Interest & Investment Income
9.00 7.73 13 11 15 12 13 15 17 14 13
Income Tax Expense
18 15 16 19 15 12 18 15 22 23 20
Basic Earnings per Share
$0.46 $0.37 $0.42 $0.48 $0.48 $0.42 $0.47 $0.58 $0.59 $0.57 $0.55
Weighted Average Basic Shares Outstanding
127.61M 127.57M 127.71M 127.87M 127.89M 127.70M 126.28M 125.32M 124.27M 124.79M 122.46M
Diluted Earnings per Share
$0.46 $0.37 $0.42 $0.48 $0.48 $0.41 $0.47 $0.58 $0.59 $0.56 $0.55
Weighted Average Diluted Shares Outstanding
127.94M 127.92M 128.22M 128.26M 128.50M 128.33M 127.17M 125.83M 124.97M 125.51M 123.35M
Weighted Average Basic & Diluted Shares Outstanding
127.61M 127.62M 127.84M 127.89M 127.89M 126.42M 125.72M 124.63M 123.72M 122.69M 121.65M
Cash Dividends to Common per Share
$0.26 - $0.26 $0.26 $0.26 - $0.26 $0.26 $0.26 - $0.26

Annual Cash Flow Statements for First Hawaiian

This table details how cash moves in and out of First Hawaiian's 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 2025
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 12/31/2025
Net Change in Cash & Equivalents
1,389 -1,598 -17 -31 -310 347 218 -882 1,213 -570 308
Net Cash From Operating Activities
143 220 270 351 297 210 417 431 255 318 335
Net Cash From Continuing Operating Activities
143 220 270 351 297 210 417 431 255 318 335
Net Income / (Loss) Continuing Operations
214 230 184 264 284 186 266 266 235 230 276
Consolidated Net Income / (Loss)
214 230 184 264 284 186 266 266 235 230 276
Depreciation Expense
26 52 62 55 68 63 52 57 43 38 34
Amortization Expense
- - - - - - - - 0.00 0.00 0.44
Non-Cash Adjustments To Reconcile Net Income
-1.85 -14 17 51 24 113 -17 14 31 50 39
Changes in Operating Assets and Liabilities, net
-95 -48 7.43 -19 -80 -152 117 94 -53 -0.41 -14
Net Cash From Investing Activities
244 -1,897 -971 -258 375 -2,104 -2,376 -965 1,025 549 264
Net Cash From Continuing Investing Activities
244 -1,897 -971 -258 375 -2,104 -2,376 -965 1,025 549 264
Purchase of Property, Plant & Equipment
-19 -16 -10 -36 -29 -33 -20 -13 -16 -29 -32
Purchase of Investments
-2,951 -3,135 -1,136 -466 -1,731 -4,165 -4,819 -1,285 -191 -392 -581
Sale of Property, Plant & Equipment
11 1.10 9.07 0.72 0.76 0.79 4.02 17 8.51 0.00 0.00
Sale and/or Maturity of Investments
3,907 2,044 914 824 2,261 2,308 1,856 1,234 1,393 961 666
Other Investing Activities, net
-704 -792 -748 -581 -126 -214 603 -919 -169 8.48 211
Net Cash From Financing Activities
1,002 78 684 -125 -981 2,241 2,177 -197 -67 -1,436 -292
Net Cash From Continuing Financing Activities
1,002 78 684 -125 -981 2,241 2,177 -347 -67 -1,436 -292
Repayment of Debt
-170 -207 -9.16 -0.01 -0.01 -0.01 -200 -75 -75 -500 -250
Repurchase of Preferred Equity
- - - - - - - - 0.00 0.00 -0.34
Repurchase of Common Equity
- - 0.00 -132 -136 -5.00 -75 -9.48 0.00 -40 -100
Payment of Dividends
-164 -447 -125 -131 -138 -135 -134 -133 -133 -133 -131
Issuance of Debt
- - 0.00 600 - -400 0.00 0.00 500 250 0.00
Issuance of Common Equity
- - 0.53 0.34 0.00 0.31 0.55 0.38 0.31 0.25 0.28
Other Financing Activities, net
1,337 732 817 -462 -707 2,781 2,585 -131 -360 -1,013 189
Cash Interest Paid
22 26 37 80 102 53 23 44 262 363 293

Quarterly Cash Flow Statements for First Hawaiian

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents
655 676 -466 -160 -42 97 144 84 457 -378 241
Net Cash From Operating Activities
26 41 67 78 59 114 37 136 57 105 160
Net Cash From Continuing Operating Activities
26 41 67 78 59 114 37 136 57 105 160
Net Income / (Loss) Continuing Operations
58 48 54 62 61 52 59 73 74 70 68
Consolidated Net Income / (Loss)
58 48 54 62 61 52 59 73 74 70 68
Depreciation Expense
10 10 9.54 9.20 9.84 9.44 8.41 9.37 7.86 7.94 8.37
Amortization Expense
- - - - - - 0.00 - 0.13 0.24 0.34
Non-Cash Adjustments To Reconcile Net Income
10 -0.31 7.50 1.84 13 28 13 8.51 6.18 11 8.13
Changes in Operating Assets and Liabilities, net
-53 -16 -4.62 5.22 -25 24 -44 45 -31 16 75
Net Cash From Investing Activities
229 697 167 146 273 -38 276 -8.55 208 -211 -110
Net Cash From Continuing Investing Activities
229 697 167 146 273 -38 276 -8.55 208 -211 -110
Purchase of Property, Plant & Equipment
-4.09 -7.71 -4.86 -5.99 -6.57 -11 -8.10 -11 -7.57 -4.90 -4.30
Purchase of Investments
-22 -40 -28 -12 -6.33 -346 -11 -83 -226 -261 -143
Sale and/or Maturity of Investments
225 697 155 196 174 437 174 156 186 150 153
Other Investing Activities, net
29 39 44 -31 113 -117 122 -70 255 -95 -117
Net Cash From Financing Activities
400 -212 -699 -384 -374 21 -168 -43 192 -272 192
Net Cash From Continuing Financing Activities
400 -62 -699 -384 -374 21 -168 -43 192 -272 192
Repurchase of Common Equity
- - 0.00 - - - -25 -25 -24 -26 -32
Payment of Dividends
-33 -33 -33 -33 -33 -33 -33 -34 -32 -32 -33
Other Financing Activities, net
433 -179 -666 -351 -91 94 -110 16 498 -214 257
Cash Interest Paid
76 88 89 90 101 83 82 72 76 64 66

Annual Balance Sheets for First Hawaiian

This table presents First Hawaiian's 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 2025
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 12/31/2025
Total Assets
19,353 19,662 20,549 20,696 20,167 22,663 24,992 24,577 24,926 23,828 23,955
Total Current Assets
10,587 11,385 12,140 17,433 17,157 19,142 0.00 0.00 0.00 0.00 0.00
Plant, Property, & Equipment, net
305 301 289 305 317 322 318 280 281 289 303
Total Noncurrent Assets
8,461 7,976 8,120 2,958 2,693 3,198 24,831 24,441 24,802 23,700 23,820
Long-Term Investments
4,027 5,078 5,235 - - - 0.00 4,321 4,041 3,791 3,533
Noncurrent Note & Lease Receivables
- - - - - - 12,962 14,092 14,353 14,408 14,313
Goodwill
995 995 995 995 995 995 995 995 995 995 995
Other Noncurrent Operating Assets
3,417 1,886 1,890 1,962 1,698 2,203 10,874 5,033 5,411 4,506 4,979
Total Liabilities & Shareholders' Equity
19,353 19,662 20,549 20,696 20,167 22,663 24,992 24,577 24,926 23,828 23,955
Total Liabilities
16,616 17,185 18,017 18,171 17,526 19,919 22,335 22,308 22,440 21,211 21,186
Total Current Liabilities
0.00 0.00 0.00 17,150 16,845 19,228 0.00 21,689 21,333 20,322 20,516
Short-Term Debt
- - - 11,142 10,965 11,706 - 12,824 13,749 13,347 13,968
Customer Deposits
- - - 6,008 5,880 7,522 - 8,865 7,584 6,975 6,547
Total Noncurrent Liabilities
16,616 17,185 18,017 1,021 681 691 22,493 763 1,264 1,049 839
Long-Term Debt
16,062 16,795 17,612 600 200 200 21,973 144 157 160 168
Noncurrent Employee Benefit Liabilities
134 133 134 128 138 143 134 103 103 97 99
Other Noncurrent Operating Liabilities
420 258 271 293 343 348 385 517 1,004 791 571
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests
2,737 2,476 2,533 2,525 2,640 2,744 2,657 2,269 2,486 2,617 2,769
Total Preferred & Common Equity
2,737 2,476 2,533 2,525 2,640 2,744 2,657 2,269 2,486 2,617 2,769
Total Common Equity
2,737 2,476 2,533 2,525 2,640 2,744 2,657 2,269 2,486 2,617 2,769
Common Stock
- 2,486 2,490 2,497 2,505 2,515 2,529 2,540 2,550 2,562 2,578
Retained Earnings
- 79 139 292 437 474 605 737 838 934 1,079
Treasury Stock
- - -0.28 -132 -270 -277 -355 -368 -371 -414 -519
Accumulated Other Comprehensive Income / (Loss)
-51 -88 -96 -132 -32 32 -122 -639 -530 -464 -368

Quarterly Balance Sheets for First Hawaiian

This table presents First Hawaiian's 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 Q2 2025 Q3 2025 Q1 2026
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 6/30/2025 9/30/2025 3/31/2026
Total Assets
24,870 24,884 24,512 24,913 24,279 23,992 23,780 23,745 23,837 24,099 24,265
Total Current Assets
16,841 -147 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Plant, Property, & Equipment, net
299 278 278 278 281 284 287 293 299 303 303
Total Noncurrent Assets
7,730 24,753 24,382 24,790 24,158 23,869 23,657 23,619 23,706 23,961 24,131
Long-Term Investments
- 4,261 4,180 4,104 3,988 3,917 3,854 3,725 3,659 3,594 3,480
Noncurrent Note & Lease Receivables
- 14,221 14,363 14,332 14,320 14,360 14,241 14,293 14,352 14,129 14,441
Goodwill
995 995 995 995 995 995 995 995 995 995 995
Other Noncurrent Operating Assets
6,734 5,275 4,844 5,358 4,854 4,596 4,566 4,606 4,700 5,242 5,215
Total Liabilities & Shareholders' Equity
24,870 24,884 24,512 24,913 24,279 23,992 23,780 23,745 23,837 24,099 24,265
Total Liabilities
22,670 22,555 22,152 22,562 21,765 21,441 21,132 21,096 21,143 21,365 21,497
Total Current Liabilities
22,092 0.00 21,078 21,511 20,669 20,319 20,228 20,216 20,231 20,730 20,777
Short-Term Debt
12,775 - 12,912 13,612 13,621 13,461 13,428 13,330 13,387 13,947 14,257
Customer Deposits
9,317 - 8,167 7,899 7,049 6,857 6,800 6,886 6,844 6,782 6,520
Total Noncurrent Liabilities
578 22,555 1,222 1,205 1,256 1,283 1,068 1,047 1,079 801 889
Long-Term Debt
- 21,782 649 155 160 161 164 167 168 165 169
Noncurrent Employee Benefit Liabilities
134 102 101 100 102 101 100 96 95 95 98
Other Noncurrent Operating Liabilities
444 672 473 950 994 1,021 804 784 816 541 621
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests
2,201 2,329 2,360 2,351 2,514 2,550 2,648 2,649 2,695 2,734 2,768
Total Preferred & Common Equity
2,201 2,329 2,360 2,351 2,514 2,550 2,648 2,649 2,695 2,734 2,768
Total Common Equity
2,201 2,329 2,360 2,351 2,514 2,550 2,648 2,649 2,695 2,734 2,768
Common Stock
2,537 2,542 2,545 2,547 2,553 2,556 2,560 2,566 2,569 2,574 2,582
Retained Earnings
690 770 799 824 858 887 915 960 1,001 1,042 1,115
Treasury Stock
-368 -371 -371 -371 -374 -374 -374 -444 -469 -493 -556
Accumulated Other Comprehensive Income / (Loss)
-659 -612 -613 -649 -524 -519 -453 -434 -407 -388 -373

Annual Metrics And Ratios for First Hawaiian

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
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 12/31/2025
DEI Shares Outstanding
- - - - - - - - - - 123,719,585.00
DEI Adjusted Shares Outstanding
- - - - - - - - - - 123,719,585.00
DEI Earnings Per Adjusted Shares Outstanding
- - - - - - - - - - 2.23
Growth Metrics
- - - - - - - - - - -
Profitability Metrics
- - - - - - - - - - -
Net Operating Profit after Tax (NOPAT)
220 230 181 263 288 191 267 258 236 207 237
Return On Investment Capital (ROIC_SIMPLE)
- - - - - - - 1.69% 1.44% 1.29% 1.40%
Earnings before Interest and Taxes (EBIT)
353 371 363 356 387 251 350 341 311 264 304
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
379 424 425 411 455 314 402 398 353 302 338
Valuation Ratios
- - - - - - - - - - -
Leverage & Solvency
- - - - - - - - - - -
Liquidity Ratios
- - - - - - - - - - -
Cash Flow Metrics
- - - - - - - - - - -
Free Cash Flow to Firm (FCFF)
-14,552 808 -536 5,404 327 1,342 -15,785 13,971 -1,198 223 -802
Efficiency Ratios
- - - - - - - - - - -
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
14,772 14,194 14,910 9,769 9,730 8,578 24,630 10,917 12,350 12,334 13,373
Increase / (Decrease) in Invested Capital
14,772 -578 717 -5,141 -39 -1,151 16,052 -13,714 1,434 -16 1,039
Book Value per Share
$19.63 $17.75 $18.14 $18.72 $20.16 $20.98 $20.63 $17.77 $19.48 $20.47 $22.38
Tangible Book Value per Share
$12.33 $10.49 $11.01 $11.34 $12.56 $13.37 $12.90 $9.97 $11.68 $12.68 $14.34
Total Capital
18,799 19,271 20,145 14,267 13,805 14,650 24,630 15,237 16,392 16,125 16,906
Total Debt
16,062 16,795 17,612 11,742 11,165 11,906 21,973 12,968 13,906 13,507 14,137
Total Long-Term Debt
16,062 16,795 17,612 600 200 200 21,973 144 157 160 168
Net Debt
12,035 11,717 12,377 7,244 7,089 5,834 21,973 8,648 9,864 9,717 10,604
Capital Expenditures (CapEx)
8.29 14 1.00 35 29 33 16 -4.01 7.48 29 32
Debt-free, Cash-free Net Working Capital (DFCFNWC)
10,587 11,385 12,140 6,927 7,201 5,549 0.00 -8,865 -7,584 -6,975 -6,547
Debt-free Net Working Capital (DFNWC)
10,587 11,385 12,140 11,425 11,277 11,620 0.00 -8,865 -7,584 -6,975 -6,547
Net Working Capital (NWC)
10,587 11,385 12,140 283 312 -86 0.00 -21,689 -21,333 -20,322 -20,516
Net Nonoperating Expense (NNE)
6.35 -0.27 -2.89 -1.69 3.91 5.43 1.13 -7.90 1.10 -23 -39
Net Nonoperating Obligations (NNO)
12,035 11,717 12,377 7,244 7,089 5,834 21,973 8,648 9,864 9,717 10,604
Total Depreciation and Amortization (D&A)
26 52 62 55 68 63 52 57 43 38 34
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
$1.53 $1.65 $1.32 $1.93 $2.14 $1.43 $2.06 $2.08 $1.84 $1.80 $2.21
Adjusted Weighted Average Basic Shares Outstanding
139.46M 139.49M 139.56M 136.95M 133.08M 129.89M 128.96M 127.49M 127.57M 127.70M 124.79M
Adjusted Diluted Earnings per Share
$1.53 $1.65 $1.32 $1.93 $2.13 $1.43 $2.05 $2.08 $1.84 $1.79 $2.20
Adjusted Weighted Average Diluted Shares Outstanding
139.46M 139.49M 139.66M 137.11M 133.39M 130.22M 129.54M 127.98M 127.92M 128.33M 125.51M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $2.14 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
139.70M 139.55M 139.60M 134.87M 130.35M 130.92M 128.16M 127.69M 127.62M 126.42M 122.69M
Normalized Net Operating Profit after Tax (NOPAT)
220 230 254 263 288 191 267 258 236 207 237
Debt Service Ratios
- - - - - - - - - - -
Payout Ratios
- - - - - - - - - - -

Quarterly Metrics And Ratios for First Hawaiian

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding
- - - - - - - - - 123,719,585.00 122,689,256.00
DEI Adjusted Shares Outstanding
- - - - - - - - - 123,719,585.00 122,689,256.00
DEI Earnings Per Adjusted Shares Outstanding
- - - - - - - - - 0.57 0.55
Growth Metrics
- - - - - - - - - - -
Revenue Growth
-7.27% -55.98% 9.48% 6.13% -0.49% 219.29% 2.38% -2.18% 7.14% - 4.56%
EBITDA Growth
-15.22% -36.20% -25.56% -11.44% -9.62% -9.69% 6.67% 4.82% 21.39% - 14.51%
EBIT Growth
-14.30% -38.48% -27.23% -10.64% -10.15% -9.85% 9.71% 5.22% 27.74% - 15.93%
NOPAT Growth
-12.82% -39.46% -25.73% -10.64% -5.21% -3.81% 10.13% 14.05% 21.97% - 16.68%
Net Income Growth
-15.64% -40.32% -18.85% -0.83% 5.62% 10.51% 9.27% 18.29% 20.08% - 14.41%
EPS Growth
-14.81% -41.27% -19.23% -2.04% 4.35% 10.81% 11.90% 20.83% 22.92% - 17.02%
Operating Cash Flow Growth
-83.18% -62.20% -19.35% -25.53% 124.63% 176.23% -44.90% 74.45% -3.04% - 334.99%
Free Cash Flow Firm Growth
-104.96% -110.05% 158.15% -14.67% -17.17% 104.41% -100.86% 40.62% -150.63% - -1,801.00%
Invested Capital Growth
2.81% 13.13% -38.00% 4.39% 3.09% -0.13% 0.93% 2.74% 7.00% - 10.41%
Revenue Q/Q Growth
-24.84% -46.56% -2.51% 0.71% -29.52% 71.45% -42.60% 38.08% -23.27% - 38.58%
EBITDA Q/Q Growth
-10.88% -15.93% 3.50% 15.47% -9.05% -15.99% 11.16% 14.80% 5.36% - -12.81%
EBIT Q/Q Growth
-11.46% -18.00% 5.41% 18.29% -10.98% -17.73% 14.91% 15.24% 7.91% - -14.63%
NOPAT Q/Q Growth
-11.99% -18.27% 6.39% 18.28% -6.64% -17.06% 9.11% 24.43% -0.32% - -11.96%
Net Income Q/Q Growth
-6.76% -18.41% 14.14% 14.20% -0.69% -14.63% 12.86% 23.63% 0.81% - -3.07%
EPS Q/Q Growth
-6.12% -19.57% 13.51% 14.29% 0.00% -14.58% 14.63% 23.40% 1.72% - -1.79%
Operating Cash Flow Q/Q Growth
-75.03% 57.21% 61.72% 17.31% -24.69% 93.33% -67.74% 271.42% -58.14% - 52.26%
Free Cash Flow Firm Q/Q Growth
32.14% -412.45% 647.27% -106.02% 30.66% 119.28% -206.38% -321.72% -193.78% - -26.97%
Invested Capital Q/Q Growth
2.34% 2.80% -0.35% -0.42% 1.07% -0.42% 0.70% 1.37% 5.26% - 2.55%
Profitability Metrics
- - - - - - - - - - -
Gross Margin
68.63% 137.14% 47.20% 49.17% 66.73% 35.02% 64.35% 50.90% 68.53% - 66.64%
EBITDA Margin
42.42% 66.74% 26.04% 29.86% 38.53% 18.88% 36.56% 30.40% 41.74% - 40.04%
Operating Margin
37.26% 57.18% 22.68% 26.64% 33.64% 16.14% 32.32% 26.97% 37.93% - 35.83%
EBIT Margin
37.26% 57.18% 22.68% 26.64% 33.64% 16.14% 32.32% 26.97% 37.93% - 35.83%
Profit (Net Income) Margin
28.79% 43.95% 19.12% 21.68% 30.55% 15.21% 29.91% 26.78% 35.19% - 32.73%
Tax Burden Percent
76.24% 76.00% 76.71% 76.70% 80.44% 81.09% 77.00% 83.14% 76.80% - 77.50%
Interest Burden Percent
101.33% 101.15% 109.93% 106.15% 112.91% 116.22% 120.21% 119.44% 120.79% - 117.87%
Effective Tax Rate
23.76% 24.00% 23.29% 23.30% 19.56% 18.91% 23.00% 16.86% 23.20% - 22.50%
Return on Invested Capital (ROIC)
2.34% 3.13% 1.21% 1.94% 2.52% 1.18% 2.25% 2.01% 2.56% - 1.78%
ROIC Less NNEP Spread (ROIC-NNEP)
2.35% 3.14% 1.25% 1.97% 2.59% 1.26% 2.36% 2.13% 2.69% - 1.88%
Return on Net Nonoperating Assets (RNNOA)
9.88% 12.21% 7.04% 7.67% 10.06% 4.83% 8.93% 7.97% 10.12% - 7.21%
Return on Equity (ROE)
12.22% 15.35% 8.25% 9.61% 12.58% 6.01% 11.18% 9.98% 12.68% - 8.99%
Cash Return on Invested Capital (CROIC)
-0.52% -10.29% 48.27% -2.53% -1.34% 1.81% 0.79% -0.93% -4.96% - -8.02%
Operating Return on Assets (OROA)
1.46% 1.94% 1.03% 1.25% 1.57% 0.74% 1.51% 1.26% 1.79% - 1.25%
Return on Assets (ROA)
1.13% 1.49% 0.87% 1.02% 1.43% 0.70% 1.40% 1.25% 1.66% - 1.15%
Return on Common Equity (ROCE)
12.22% 15.35% 8.25% 9.61% 12.58% 6.01% 11.18% 9.98% 12.68% - 8.99%
Return on Equity Simple (ROE_SIMPLE)
11.36% 0.00% 8.85% 8.70% 8.50% 0.00% 8.88% 0.00% 0.00% - 0.00%
Net Operating Profit after Tax (NOPAT)
57 47 49 58 54 45 49 61 61 65 58
NOPAT Margin
28.41% 43.45% 17.39% 20.43% 27.06% 13.09% 24.88% 22.42% 29.13% - 27.77%
Net Nonoperating Expense Percent (NNEP)
-0.01% -0.01% -0.04% -0.04% -0.07% -0.07% -0.10% -0.12% -0.13% - -0.10%
Return On Investment Capital (ROIC_SIMPLE)
- 0.29% - - - 0.28% 0.31% 0.38% 0.36% 0.39% 0.33%
Cost of Revenue to Revenue
31.37% -37.14% 52.80% 50.83% 33.27% 64.98% 35.65% 49.10% 31.47% - 33.36%
SG&A Expenses to Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
R&D to Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Operating Expenses to Revenue
31.37% 79.97% 24.53% 22.53% 33.08% 18.88% 32.04% 23.93% 30.60% - 30.81%
Earnings before Interest and Taxes (EBIT)
75 62 64 76 68 56 64 74 80 87 74
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
86 72 74 85 78 65 72 83 88 95 83
Valuation Ratios
- - - - - - - - - - -
Price to Book Value (P/BV)
0.93 1.11 1.09 1.03 1.12 1.26 1.17 1.16 1.13 - 1.09
Price to Tangible Book Value (P/TBV)
1.62 1.85 1.80 1.69 1.79 2.03 1.87 1.85 1.78 - 1.71
Price to Revenue (P/Rev)
2.25 3.30 2.44 2.31 2.61 2.95 2.76 2.82 2.74 - 3.60
Price to Earnings (P/E)
8.21 11.76 12.32 11.83 13.15 14.28 13.14 12.73 11.96 - 10.61
Dividend Yield
6.05% 4.80% 4.85% 5.07% 4.49% 4.05% 4.26% 4.17% 4.19% - 4.22%
Earnings Yield
12.17% 8.51% 8.12% 8.45% 7.60% 7.00% 7.61% 7.85% 8.36% - 9.42%
Enterprise Value to Invested Capital (EV/IC)
0.99 1.02 1.02 1.01 1.03 1.05 1.04 1.04 1.03 - 1.02
Enterprise Value to Revenue (EV/Rev)
12.15 15.06 11.19 10.85 11.18 11.66 11.48 11.70 12.07 - 16.63
Enterprise Value to EBITDA (EV/EBITDA)
30.07 35.73 38.29 38.99 41.23 43.09 41.99 42.03 41.83 - 40.05
Enterprise Value to EBIT (EV/EBIT)
33.95 40.65 43.85 44.56 47.19 49.30 47.74 47.73 46.88 - 44.42
Enterprise Value to NOPAT (EV/NOPAT)
44.46 53.49 57.37 58.30 60.87 62.68 60.67 59.30 59.03 - 56.89
Enterprise Value to Operating Cash Flow (EV/OCF)
36.73 49.51 52.43 58.09 51.85 40.96 44.72 37.69 39.57 - 30.50
Enterprise Value to Free Cash Flow (EV/FCFF)
0.00 0.00 1.61 0.00 0.00 58.21 131.65 0.00 0.00 - 0.00
Leverage & Solvency
- - - - - - - - - - -
Debt to Equity
5.86 5.59 5.48 5.34 5.13 5.16 5.10 5.03 5.16 - 5.21
Long-Term Debt to Equity
0.07 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 - 0.06
Financial Leverage
4.21 3.89 5.64 3.89 3.88 3.84 3.79 3.74 3.76 - 3.83
Leverage Ratio
10.94 10.41 10.15 9.88 9.74 9.55 9.30 9.12 8.90 - 8.86
Compound Leverage Factor
11.08 10.53 11.16 10.49 11.00 11.10 11.18 10.89 10.75 - 10.45
Debt to Total Capital
85.41% 84.83% 84.57% 84.23% 83.69% 83.77% 83.59% 83.42% 83.77% - 83.90%
Short-Term Debt to Total Capital
84.45% 83.88% 83.59% 83.24% 82.69% 82.77% 82.56% 82.38% 82.79% - 82.92%
Long-Term Debt to Total Capital
0.96% 0.96% 0.98% 0.99% 1.01% 0.99% 1.03% 1.03% 0.98% - 0.98%
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
14.59% 15.17% 15.43% 15.77% 16.31% 16.23% 16.41% 16.58% 16.23% - 16.10%
Debt to EBITDA
34.92 39.35 42.11 43.08 44.13 44.76 44.06 43.71 43.36 - 41.36
Net Debt to EBITDA
24.51 27.91 29.92 30.69 31.62 32.20 31.90 31.91 32.32 - 31.38
Long-Term Debt to EBITDA
0.39 0.44 0.49 0.51 0.53 0.53 0.54 0.54 0.51 - 0.49
Debt to NOPAT
51.62 58.90 63.09 64.41 65.15 65.11 63.66 61.67 61.20 - 58.75
Net Debt to NOPAT
36.23 41.78 44.83 45.89 46.68 46.84 46.09 45.02 45.61 - 44.58
Long-Term Debt to NOPAT
0.58 0.66 0.73 0.76 0.78 0.77 0.79 0.76 0.72 - 0.69
Altman Z-Score
-0.88 -0.86 -0.84 -0.83 -0.83 -0.82 -0.82 -0.81 -0.83 - -0.83
Noncontrolling Interest Sharing Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Liquidity Ratios
- - - - - - - - - - -
Current Ratio
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Quick Ratio
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Cash Flow Metrics
- - - - - - - - - - -
Free Cash Flow to Firm (FCFF)
-271 -1,387 7,592 -457 -317 61 -65 -274 -806 -974 -1,236
Operating Cash Flow to CapEx
640.52% 534.80% 1,370.91% 1,305.71% 895.98% 1,002.42% 453.30% 1,216.53% 754.19% - 3,717.76%
Free Cash Flow to Firm to Interest Expense
-33.82 -197.47 1,189.59 -70.63 -54.77 20.76 -205.76 -1,142.49 -4,068.40 - -11,884.77
Operating Cash Flow to Interest Expense
3.28 5.87 10.44 12.07 10.17 38.66 116.19 568.22 288.31 - 1,535.72
Operating Cash Flow Less CapEx to Interest Expense
2.76 4.77 9.68 11.15 9.04 34.81 90.56 521.51 250.08 - 1,494.41
Efficiency Ratios
- - - - - - - - - - -
Asset Turnover
0.04 0.03 0.05 0.05 0.05 0.05 0.05 0.05 0.05 - 0.04
Accounts Receivable Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Inventory Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Fixed Asset Turnover
3.38 2.98 4.01 4.05 4.02 3.91 3.90 3.82 3.82 - 2.82
Accounts Payable Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Days Sales Outstanding (DSO)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Days Inventory Outstanding (DIO)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Days Payable Outstanding (DPO)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Cash Conversion Cycle (CCC)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
12,014 12,350 12,307 12,255 12,386 12,334 12,421 12,591 13,252 13,373 13,714
Invested Capital Turnover
0.08 0.07 0.07 0.09 0.09 0.09 0.09 0.09 0.09 - 0.06
Increase / (Decrease) in Invested Capital
328 1,434 -7,543 516 372 -16 114 336 867 1,039 1,294
Enterprise Value (EV)
11,857 12,627 12,532 12,329 12,698 13,004 12,862 13,034 13,613 - 13,970
Market Capitalization
2,194 2,763 2,739 2,625 2,961 3,287 3,090 3,138 3,095 - 3,023
Book Value per Share
$18.42 $19.48 $19.70 $19.95 $20.71 $20.47 $20.95 $21.43 $21.94 $22.38 $22.56
Tangible Book Value per Share
$10.62 $11.68 $11.90 $12.16 $12.92 $12.68 $13.08 $13.51 $13.95 $14.34 $14.45
Total Capital
16,118 16,392 16,295 16,172 16,239 16,125 16,146 16,249 16,847 16,906 17,194
Total Debt
13,767 13,906 13,781 13,622 13,591 13,507 13,497 13,555 14,113 14,137 14,427
Total Long-Term Debt
155 157 160 161 164 160 167 168 165 168 169
Net Debt
9,663 9,864 9,793 9,705 9,738 9,717 9,772 9,896 10,518 10,604 10,947
Capital Expenditures (CapEx)
4.09 7.71 4.86 5.99 6.57 11 8.10 11 7.57 4.90 4.30
Debt-free, Cash-free Net Working Capital (DFCFNWC)
-7,899 -7,584 -7,049 -6,857 -6,800 -6,975 -6,886 -6,844 -6,782 -6,547 -6,520
Debt-free Net Working Capital (DFNWC)
-7,899 -7,584 -7,049 -6,857 -6,800 -6,975 -6,886 -6,844 -6,782 -6,547 -6,520
Net Working Capital (NWC)
-21,511 -21,333 -20,669 -20,319 -20,228 -20,322 -20,216 -20,231 -20,730 -20,516 -20,777
Net Nonoperating Expense (NNE)
-0.77 -0.54 -4.90 -3.58 -7.03 -7.33 -9.96 -12 -13 -4.61 -10
Net Nonoperating Obligations (NNO)
9,663 9,864 9,793 9,705 9,738 9,717 9,772 9,896 10,518 10,604 10,947
Total Depreciation and Amortization (D&A)
10 10 9.54 9.20 9.84 9.44 8.41 9.37 7.98 8.18 8.71
Debt-free, Cash-free Net Working Capital to Revenue
-809.46% -904.54% -629.13% -603.20% -598.66% -625.33% -614.76% -614.44% -601.30% - -776.33%
Debt-free Net Working Capital to Revenue
-809.46% -904.54% -629.13% -603.20% -598.66% -625.33% -614.76% -614.44% -601.30% - -776.33%
Net Working Capital to Revenue
-2,204.41% -2,544.49% -1,844.89% -1,787.29% -1,780.82% -1,821.92% -1,804.93% -1,816.22% -1,837.87% - -2,473.90%
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
$0.46 $0.37 $0.42 $0.48 $0.48 $0.42 $0.47 $0.58 $0.59 $0.57 $0.55
Adjusted Weighted Average Basic Shares Outstanding
127.61M 127.57M 127.71M 127.87M 127.89M 127.70M 126.28M 125.32M 124.27M 124.79M 122.46M
Adjusted Diluted Earnings per Share
$0.46 $0.37 $0.42 $0.48 $0.48 $0.41 $0.47 $0.58 $0.59 $0.56 $0.55
Adjusted Weighted Average Diluted Shares Outstanding
127.94M 127.92M 128.22M 128.26M 128.50M 128.33M 127.17M 125.83M 124.97M 125.51M 123.35M
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
127.61M 127.62M 127.84M 127.89M 127.89M 126.42M 125.72M 124.63M 123.72M 122.69M 121.65M
Normalized Net Operating Profit after Tax (NOPAT)
57 47 49 58 54 45 49 61 61 65 58
Normalized NOPAT Margin
28.41% 43.45% 17.39% 20.43% 27.06% 13.09% 24.88% 22.42% 29.13% - 27.77%
Pre Tax Income Margin
37.76% 57.83% 24.93% 28.27% 37.99% 18.76% 38.85% 32.21% 45.82% - 42.23%
Debt Service Ratios
- - - - - - - - - - -
EBIT to Interest Expense
9.42 8.80 10.07 11.75 11.70 18.92 202.56 307.35 402.03 - 713.52
NOPAT to Interest Expense
7.18 6.69 7.73 9.01 9.41 15.34 155.97 255.53 308.75 - 552.97
EBIT Less CapEx to Interest Expense
8.91 7.70 9.31 10.82 10.56 15.06 176.92 260.64 363.80 - 672.21
NOPAT Less CapEx to Interest Expense
6.67 5.59 6.97 8.09 8.27 11.49 130.34 208.82 270.52 - 511.66
Payout Ratios
- - - - - - - - - - -
Dividend Payout Ratio
49.64% 56.45% 59.68% 59.84% 59.00% 57.71% 56.34% 53.91% 50.98% - 46.06%
Augmented Payout Ratio
49.64% 56.45% 59.68% 59.84% 59.00% 75.09% 83.98% 90.42% 95.04% - 83.63%

Financials Breakdown Chart

Key Financial Trends

Below is a concise, JavaScript-friendly look at First Hawaiian (NASDAQ:FHB) using the last four years of quarterly data provided. It highlights notable trends in income, cash flow, and the balance sheet for retail investors.

  • Q4 2025: Net income attributable to common shareholders of $69.93 million and diluted earnings per share of $0.56 (basic $0.57), signaling solid quarterly profitability.
  • Q4 2025: Net cash from continuing operating activities of $104.90 million, indicating strong ongoing cash generation from core operations.
  • Q4 2025: Total gross profit of $147.25 million on revenue of $149.43 million, suggesting a robust gross margin and cost control.
  • Q4 2025: Total operating income of $86.92 million, reflecting healthy operating performance for the quarter.
  • Balance sheet snapshot (Q3 2025): Total liabilities around $21.36 billion and total equity around $2.73 billion, consistent with a bank-style balance sheet with a large deposits base and modest equity cushion.
  • Investing activities across 2025 show a mix of investment purchases and maturities, resulting in a generally neutral-to-negative net cash from investing activities in several quarters.
  • Financing activities in 2025 show periodic cash outflows (dividends, debt-related activity), which is typical for a bank-like institution balancing growth with shareholder returns.
  • Q4 2025: Net change in cash and cash equivalents was a negative $377.89 million, indicating a substantial quarterly cash outflow driven by investing/financing activity.
  • Q4 2025: Net cash from financing activities was negative (roughly -$271.90 million), suggesting meaningful cash outflows related to financing actions such as debt repayments and dividends.
  • Several quarters over the period show large investing outflows (e.g., purchases of investments), which can compress near-term cash balances despite positive operating cash flow.

Takeaway for investors: First Hawaiian demonstrates solid quarterly profitability and strong operating cash flow in 2025, with EPS in the $0.56–$0.59 range and positive operating cash generation. However, the company also shows notable quarterly cash outflows from investing and financing activities, and a large liability base typical of a deposit-rich banking structure. As always, shifts in deposits, loan mix, and investment portfolio allocations can influence liquidity and future earnings.

05/14/26 06:20 AM ETAI Generated. May Contain Errors.

First Hawaiian Financials - Frequently Asked Questions

According to the most recent income statement we have on file, First Hawaiian's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

First Hawaiian's net income were at $276.27 million at the end of 2025, a 20.0% increase from 2024, and a 29.2% increase since 2015. See where experts think First Hawaiian is headed by visiting First Hawaiian's forecast page.

First Hawaiian's total operating income in 2025 was $304.29 million, based on the following breakdown:
  • Total Gross Profit: $557.73 million
  • Total Operating Expenses: $253.44 million

Over the last 10 years, First Hawaiian's total revenue changed from $650.58 million in 2015 to $830.84 million in 2025, a change of 27.7%.

First Hawaiian's total liabilities were at $21.19 billion at the end of 2025, a 0.1% decrease from 2024, and a 27.5% increase since 2015.

Over the last 10 years, First Hawaiian's book value per share changed from 19.63 in 2015 to 22.38 in 2025, a change of 14.1%.



Financial statements for NASDAQ:FHB last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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