Annual Income Statements for First BanCorp.
Annual Income Statements for First BanCorp.
This table shows First BanCorp.'s income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.
Quarterly Income Statements for First BanCorp.
This table shows First BanCorp.'s 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 |
Net Income / (Loss) Attributable to Common Shareholders |
|
75 |
73 |
71 |
71 |
164 |
-2.53 |
73 |
76 |
74 |
76 |
Consolidated Net Income / (Loss) |
|
75 |
73 |
71 |
71 |
77 |
85 |
73 |
76 |
74 |
76 |
Net Income / (Loss) Continuing Operations |
|
75 |
26 |
71 |
61 |
77 |
94 |
73 |
66 |
64 |
56 |
Total Pre-Tax Income |
|
107 |
107 |
103 |
101 |
109 |
85 |
97 |
101 |
96 |
96 |
Total Revenue |
|
238 |
195 |
233 |
227 |
219 |
254 |
231 |
222 |
225 |
222 |
Net Interest Income / (Expense) |
|
208 |
206 |
201 |
200 |
200 |
197 |
197 |
200 |
202 |
209 |
Total Interest Income |
|
223 |
233 |
242 |
252 |
263 |
265 |
269 |
272 |
275 |
280 |
Loans and Leases Interest Income |
|
192 |
203 |
211 |
218 |
228 |
234 |
237 |
240 |
244 |
245 |
Investment Securities Interest Income |
|
26 |
27 |
27 |
26 |
25 |
25 |
24 |
23 |
22 |
23 |
Deposits and Money Market Investments Interest Income |
|
4.65 |
3.44 |
4.65 |
7.88 |
11 |
6.93 |
7.25 |
9.06 |
8.78 |
12 |
Total Interest Expense |
|
15 |
28 |
42 |
52 |
64 |
28 |
72 |
73 |
73 |
70 |
Deposits Interest Expense |
|
9.98 |
21 |
30 |
42 |
54 |
60 |
63 |
64 |
64 |
63 |
Short-Term Borrowings Interest Expense |
|
0.00 |
2.51 |
4.34 |
0.44 |
0.00 |
- |
0.00 |
0.00 |
0.00 |
0.02 |
Long-Term Debt Interest Expense |
|
2.80 |
10 |
6.22 |
9.02 |
9.02 |
-24 |
8.96 |
8.95 |
8.91 |
7.74 |
Total Non-Interest Income |
|
30 |
30 |
33 |
36 |
30 |
34 |
34 |
32 |
33 |
32 |
Other Service Charges |
|
27 |
-11 |
28 |
23 |
9.89 |
20 |
28 |
20 |
20 |
11 |
Investment Banking Income |
|
2.62 |
2.90 |
4.85 |
2.75 |
2.79 |
2.38 |
5.51 |
2.79 |
3.00 |
2.27 |
Provision for Credit Losses |
|
16 |
23 |
16 |
22 |
4.40 |
19 |
12 |
12 |
15 |
21 |
Total Non-Interest Expense |
|
115 |
113 |
115 |
113 |
117 |
127 |
121 |
119 |
123 |
125 |
Salaries and Employee Benefits |
|
53 |
52 |
56 |
54 |
57 |
56 |
60 |
57 |
59 |
60 |
Net Occupancy & Equipment Expense |
|
25 |
24 |
23 |
23 |
24 |
24 |
23 |
24 |
25 |
25 |
Marketing Expense |
|
5.14 |
5.59 |
3.98 |
4.17 |
4.76 |
6.73 |
3.84 |
4.36 |
4.12 |
5.33 |
Property & Liability Insurance Claims |
|
1.47 |
1.54 |
2.13 |
2.14 |
2.14 |
8.45 |
3.10 |
2.32 |
2.16 |
2.24 |
Other Operating Expenses |
|
31 |
29 |
29 |
29 |
17 |
44 |
31 |
30 |
33 |
32 |
Income Tax Expense |
|
32 |
33 |
32 |
30 |
32 |
-0.08 |
24 |
26 |
23 |
20 |
Basic Earnings per Share |
|
$0.40 |
$0.40 |
$0.39 |
$0.39 |
$0.47 |
$0.47 |
$0.44 |
$0.46 |
$0.45 |
$0.47 |
Weighted Average Basic Shares Outstanding |
|
184.61M |
180.59M |
179.79M |
178.30M |
172.55M |
167.32M |
166.43M |
163.87M |
163.87M |
163.87M |
Diluted Earnings per Share |
|
$0.40 |
$0.40 |
$0.39 |
$0.39 |
$0.46 |
$0.47 |
$0.44 |
$0.46 |
$0.45 |
$0.46 |
Weighted Average Diluted Shares Outstanding |
|
184.61M |
180.59M |
179.79M |
178.30M |
172.55M |
167.32M |
166.43M |
163.87M |
163.87M |
163.87M |
Weighted Average Basic & Diluted Shares Outstanding |
|
184.61M |
180.59M |
179.79M |
178.30M |
172.55M |
167.32M |
166.43M |
163.87M |
163.87M |
163.87M |
Cash Dividends to Common per Share |
|
$0.12 |
$0.12 |
$0.14 |
$0.14 |
$0.14 |
$0.14 |
$0.16 |
$0.16 |
$0.16 |
$0.16 |
Annual Cash Flow Statements for First BanCorp.
This table details how cash moves in and out of First BanCorp.'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 |
Net Change in Cash & Equivalents |
|
-44 |
-453 |
417 |
-130 |
58 |
850 |
1,049 |
-2,063 |
183 |
496 |
Net Cash From Operating Activities |
|
262 |
199 |
236 |
288 |
294 |
298 |
400 |
440 |
363 |
404 |
Net Cash From Continuing Operating Activities |
|
262 |
45 |
236 |
288 |
296 |
298 |
400 |
441 |
363 |
404 |
Net Income / (Loss) Continuing Operations |
|
21 |
0.00 |
67 |
202 |
167 |
102 |
281 |
305 |
303 |
299 |
Consolidated Net Income / (Loss) |
|
21 |
- |
67 |
202 |
167 |
102 |
281 |
305 |
303 |
299 |
Provision For Loan Losses |
|
172 |
87 |
144 |
- |
40 |
171 |
-66 |
28 |
61 |
60 |
Depreciation Expense |
|
21 |
18 |
16 |
15 |
18 |
20 |
25 |
22 |
21 |
19 |
Amortization Expense |
|
11 |
5.85 |
0.31 |
-1.23 |
-2.55 |
17 |
13 |
4.40 |
14 |
13 |
Non-Cash Adjustments to Reconcile Net Income |
|
2.70 |
-41 |
11 |
84 |
47 |
-20 |
130 |
74 |
9.34 |
14 |
Changes in Operating Assets and Liabilities, net |
|
34 |
-24 |
-3.26 |
-11 |
27 |
7.53 |
17 |
8.37 |
-45 |
0.27 |
Net Cash From Investing Activities |
|
439 |
83 |
-73 |
-223 |
-343 |
-1,239 |
-1,263 |
-681 |
-78 |
136 |
Net Cash From Continuing Investing Activities |
|
439 |
83 |
-73 |
-223 |
-343 |
-1,239 |
-1,263 |
-681 |
-78 |
136 |
Purchase of Property, Leasehold Improvements and Equipment |
|
-12 |
-10 |
-9.42 |
-21 |
-22 |
-16 |
-13 |
-20 |
-23 |
-10 |
Purchase of Investment Securities |
|
-3,221 |
-3,444 |
-416 |
-789 |
-765 |
-4,151 |
-2,844 |
-1,430 |
-764 |
-972 |
Sale and/or Maturity of Investments |
|
3,445 |
3,538 |
352 |
586 |
445 |
2,522 |
1,597 |
769 |
708 |
1,118 |
Net Cash From Financing Activities |
|
-745 |
-735 |
254 |
-195 |
107 |
1,791 |
1,912 |
-1,822 |
-102 |
-44 |
Net Cash From Continuing Financing Activities |
|
-745 |
-735 |
254 |
-195 |
107 |
1,791 |
1,912 |
-1,822 |
-102 |
-44 |
Net Change in Deposits |
|
-673 |
-542 |
220 |
-37 |
362 |
1,767 |
2,473 |
-1,706 |
471 |
261 |
Issuance of Debt |
|
130 |
215 |
415 |
120 |
0.00 |
0.00 |
0.00 |
200 |
300 |
0.00 |
Repayment of Debt |
|
0.00 |
-7.03 |
-376 |
-266 |
-220 |
-130 |
-240 |
50 |
-570 |
-97 |
Repurchase of Common Equity |
|
- |
-1.13 |
-2.50 |
-2.83 |
-1.96 |
- |
- |
-278 |
-203 |
-102 |
Payment of Dividends |
|
0.00 |
-0.22 |
-2.68 |
-9.19 |
-33 |
-46 |
-67 |
-88 |
-100 |
-106 |
Quarterly Cash Flow Statements for First BanCorp.
This table details how cash moves in and out of First BanCorp.'s 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 |
Net Change in Cash & Equivalents |
|
-709 |
-74 |
343 |
224 |
-463 |
78 |
21 |
-98 |
99 |
474 |
Net Cash From Operating Activities |
|
115 |
106 |
115 |
51 |
117 |
79 |
118 |
71 |
118 |
97 |
Net Cash From Continuing Operating Activities |
|
115 |
107 |
115 |
51 |
117 |
79 |
118 |
71 |
118 |
97 |
Net Income / (Loss) Continuing Operations |
|
75 |
73 |
71 |
71 |
82 |
79 |
73 |
76 |
74 |
76 |
Consolidated Net Income / (Loss) |
|
75 |
73 |
71 |
71 |
82 |
79 |
73 |
76 |
74 |
76 |
Provision For Loan Losses |
|
16 |
16 |
16 |
22 |
4.40 |
19 |
12 |
12 |
15 |
21 |
Depreciation Expense |
|
5.52 |
5.48 |
5.08 |
4.99 |
5.20 |
5.23 |
4.68 |
4.63 |
4.68 |
4.59 |
Amortization Expense |
|
1.42 |
2.50 |
3.00 |
3.96 |
3.82 |
3.45 |
2.88 |
3.61 |
3.53 |
2.57 |
Non-Cash Adjustments to Reconcile Net Income |
|
7.05 |
15 |
-0.80 |
0.79 |
8.63 |
0.72 |
0.42 |
7.44 |
5.16 |
1.06 |
Changes in Operating Assets and Liabilities, net |
|
11 |
-5.01 |
22 |
-52 |
13 |
-28 |
25 |
-32 |
16 |
-8.02 |
Net Cash From Investing Activities |
|
50 |
-173 |
51 |
-26 |
-7.50 |
-96 |
40 |
-28 |
202 |
-78 |
Net Cash From Continuing Investing Activities |
|
50 |
-173 |
51 |
-26 |
-7.50 |
-96 |
40 |
-28 |
202 |
-78 |
Purchase of Property, Leasehold Improvements and Equipment |
|
-3.60 |
-5.02 |
-1.69 |
-15 |
-3.73 |
-2.66 |
-4.14 |
-1.72 |
-2.53 |
-1.62 |
Purchase of Investment Securities |
|
-151 |
-319 |
-83 |
-138 |
-264 |
-280 |
-158 |
-179 |
-72 |
-562 |
Sale and/or Maturity of Investments |
|
204 |
151 |
135 |
127 |
260 |
186 |
202 |
153 |
277 |
486 |
Net Cash From Financing Activities |
|
-873 |
-6.94 |
177 |
198 |
-572 |
95 |
-137 |
-141 |
-221 |
455 |
Net Cash From Continuing Financing Activities |
|
-873 |
-6.94 |
177 |
198 |
-572 |
95 |
-137 |
-141 |
-221 |
455 |
Net Change in Deposits |
|
-576 |
-485 |
-92 |
768 |
-400 |
195 |
-58 |
-65 |
-146 |
529 |
Repayment of Debt |
|
-200 |
350 |
48 |
-544 |
-74 |
- |
0.00 |
- |
-49 |
-49 |
Repurchase of Common Equity |
|
- |
- |
-53 |
- |
- |
- |
-52 |
-49 |
-0.77 |
-0.02 |
Payment of Dividends |
|
-22 |
-22 |
-25 |
-26 |
-25 |
-24 |
-27 |
-27 |
-26 |
-26 |
Annual Balance Sheets for First BanCorp.
This table presents First BanCorp.'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 |
Total Assets |
|
12,573 |
11,922 |
12,261 |
12,244 |
12,611 |
18,793 |
20,785 |
18,634 |
18,910 |
19,293 |
Cash and Due from Banks |
|
749 |
297 |
706 |
579 |
546 |
1,433 |
2,540 |
478 |
662 |
1,158 |
Interest Bearing Deposits at Other Banks |
|
3.00 |
2.80 |
3.13 |
0.30 |
0.30 |
0.30 |
- |
0.30 |
0.30 |
0.50 |
Trading Account Securities |
|
2,080 |
2,081 |
2,085 |
2,175 |
2,340 |
4,865 |
6,691 |
6,096 |
5,287 |
4,633 |
Loans and Leases, Net of Allowance |
|
8,908 |
8,731 |
8,652 |
0.00 |
0.00 |
11,442 |
10,792 |
11,292 |
12,276 |
12,820 |
Loans and Leases |
|
8,908 |
8,731 |
8,652 |
- |
- |
11,442 |
10,792 |
- |
12,276 |
12,820 |
Premises and Equipment, Net |
|
161 |
151 |
142 |
148 |
150 |
158 |
146 |
143 |
142 |
133 |
Goodwill |
|
- |
- |
- |
- |
28 |
39 |
39 |
39 |
39 |
39 |
Intangible Assets |
|
- |
- |
- |
- |
7.57 |
41 |
30 |
21 |
13 |
6.97 |
Other Assets |
|
672 |
660 |
674 |
9,342 |
9,539 |
815 |
547 |
564 |
492 |
504 |
Total Liabilities & Shareholders' Equity |
|
12,573 |
11,922 |
12,261 |
12,244 |
12,611 |
18,793 |
20,785 |
18,634 |
18,910 |
19,293 |
Total Liabilities |
|
10,879 |
10,136 |
10,392 |
10,199 |
10,383 |
16,518 |
18,684 |
17,309 |
17,412 |
17,624 |
Non-Interest Bearing Deposits |
|
1,337 |
1,484 |
1,834 |
2,395 |
2,368 |
4,546 |
7,028 |
6,113 |
5,404 |
5,548 |
Interest Bearing Deposits |
|
8,002 |
7,347 |
7,189 |
6,599 |
6,981 |
10,771 |
10,757 |
10,031 |
11,152 |
11,324 |
Long-Term Debt |
|
681 |
886 |
924 |
924 |
754 |
624 |
384 |
859 |
662 |
562 |
Other Long-Term Liabilities |
|
159 |
119 |
146 |
130 |
181 |
277 |
215 |
232 |
194 |
191 |
Commitments & Contingencies |
|
- |
- |
- |
- |
- |
- |
- |
- |
0.00 |
0.00 |
Total Equity & Noncontrolling Interests |
|
1,694 |
1,786 |
1,869 |
2,045 |
2,228 |
2,275 |
2,102 |
1,326 |
1,498 |
1,669 |
Total Preferred & Common Equity |
|
1,694 |
1,786 |
1,869 |
2,045 |
2,228 |
2,275 |
2,102 |
1,326 |
1,498 |
1,669 |
Total Common Equity |
|
1,658 |
1,750 |
1,833 |
2,009 |
2,192 |
2,240 |
2,102 |
1,326 |
1,498 |
1,669 |
Common Stock |
|
948 |
954 |
959 |
962 |
964 |
969 |
995 |
993 |
988 |
987 |
Retained Earnings |
|
738 |
831 |
895 |
1,088 |
1,222 |
1,215 |
1,427 |
1,644 |
1,846 |
2,039 |
Accumulated Other Comprehensive Income / (Loss) |
|
-28 |
-34 |
-21 |
-40 |
6.76 |
55 |
-84 |
-805 |
-639 |
-567 |
Other Equity Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
-697 |
-790 |
Quarterly Balance Sheets for First BanCorp.
This table presents First BanCorp.'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 |
Total Assets |
|
18,442 |
18,977 |
19,152 |
18,595 |
18,891 |
18,881 |
18,859 |
Cash and Due from Banks |
|
553 |
823 |
1,047 |
584 |
681 |
582 |
684 |
Interest Bearing Deposits at Other Banks |
|
0.30 |
- |
- |
0.30 |
0.30 |
0.50 |
0.50 |
Trading Account Securities |
|
11,362 |
11,245 |
10,915 |
10,400 |
5,111 |
5,019 |
4,960 |
Loans and Leases, Net of Allowance |
|
11,053 |
11,328 |
11,467 |
11,696 |
12,396 |
12,474 |
12,521 |
Loans and Leases |
|
11,053 |
11,328 |
11,467 |
11,696 |
12,396 |
12,474 |
12,521 |
Premises and Equipment, Net |
|
143 |
138 |
147 |
145 |
141 |
139 |
136 |
Goodwill |
|
39 |
39 |
39 |
39 |
39 |
39 |
39 |
Intangible Assets |
|
23 |
19 |
17 |
15 |
12 |
9.70 |
8.26 |
Other Assets |
|
11,992 |
12,304 |
12,006 |
892 |
515 |
624 |
512 |
Total Liabilities & Shareholders' Equity |
|
18,442 |
18,977 |
19,152 |
18,595 |
18,891 |
18,881 |
18,859 |
Total Liabilities |
|
17,177 |
17,572 |
17,754 |
17,292 |
17,411 |
17,390 |
17,158 |
Non-Interest Bearing Deposits |
|
6,236 |
6,024 |
5,874 |
5,440 |
5,346 |
5,406 |
5,276 |
Interest Bearing Deposits |
|
10,334 |
10,028 |
10,945 |
10,995 |
11,199 |
11,123 |
11,072 |
Short-Term Debt |
|
200 |
173 |
74 |
0.00 |
0.00 |
0.00 |
0.00 |
Long-Term Debt |
|
184 |
1,109 |
745 |
662 |
662 |
662 |
612 |
Other Long-Term Liabilities |
|
223 |
238 |
199 |
195 |
204 |
199 |
199 |
Commitments & Contingencies |
|
- |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Total Equity & Noncontrolling Interests |
|
1,265 |
1,406 |
1,398 |
1,303 |
1,480 |
1,491 |
1,701 |
Total Preferred & Common Equity |
|
1,265 |
1,406 |
1,398 |
1,303 |
1,480 |
1,491 |
1,701 |
Total Common Equity |
|
1,265 |
1,406 |
1,398 |
1,303 |
1,480 |
1,491 |
1,701 |
Common Stock |
|
992 |
982 |
985 |
986 |
982 |
984 |
985 |
Retained Earnings |
|
1,593 |
1,688 |
1,733 |
1,791 |
1,893 |
1,942 |
1,989 |
Accumulated Other Comprehensive Income / (Loss) |
|
-863 |
-718 |
-772 |
-851 |
-654 |
-644 |
-484 |
Other Equity Adjustments |
|
- |
- |
- |
- |
-740 |
-790 |
-790 |
Annual Metrics And Ratios for First BanCorp.
This table displays calculated financial ratios and metrics derived from First BanCorp.'s official financial filings.
Metric |
|
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
0.72% |
-1.97% |
-3.17% |
9.70% |
8.22% |
8.20% |
21.01% |
2.27% |
5.92% |
-3.57% |
EBITDA Growth |
|
-53.39% |
159.29% |
-48.80% |
159.70% |
24.25% |
-39.51% |
209.56% |
-8.24% |
-0.32% |
-11.84% |
EBIT Growth |
|
-69.75% |
369.98% |
-52.42% |
207.57% |
25.35% |
-51.32% |
276.35% |
-6.40% |
-2.31% |
-11.97% |
NOPAT Growth |
|
-94.57% |
337.76% |
-28.18% |
201.11% |
-16.98% |
-38.90% |
174.78% |
8.56% |
-0.72% |
-1.37% |
Net Income Growth |
|
-94.57% |
337.76% |
-28.18% |
201.11% |
-16.98% |
-38.90% |
174.78% |
8.56% |
-0.72% |
-1.37% |
EPS Growth |
|
-94.65% |
330.00% |
-30.23% |
206.67% |
-17.39% |
-39.47% |
184.78% |
21.37% |
7.55% |
5.85% |
Operating Cash Flow Growth |
|
-0.93% |
-23.85% |
18.32% |
22.19% |
2.07% |
1.17% |
34.25% |
10.20% |
-17.60% |
11.35% |
Free Cash Flow Firm Growth |
|
183.94% |
164.11% |
-127.16% |
428.80% |
16.36% |
-107.08% |
4,907.46% |
19.69% |
-51.52% |
-43.65% |
Invested Capital Growth |
|
-1.70% |
-3.36% |
4.05% |
0.85% |
-1.18% |
3.79% |
-12.92% |
-18.89% |
-4.43% |
3.32% |
Revenue Q/Q Growth |
|
-4.08% |
4.17% |
-5.44% |
8.09% |
0.94% |
6.53% |
1.96% |
-3.22% |
6.70% |
-3.40% |
EBITDA Q/Q Growth |
|
-40.60% |
41.81% |
-31.88% |
37.62% |
-2.33% |
12.48% |
14.49% |
-13.17% |
12.84% |
-7.98% |
EBIT Q/Q Growth |
|
-57.11% |
53.02% |
-36.27% |
43.70% |
-2.75% |
7.01% |
17.48% |
-13.94% |
13.88% |
-8.26% |
NOPAT Q/Q Growth |
|
-93.68% |
10.54% |
0.47% |
61.71% |
-27.87% |
15.45% |
9.13% |
-0.15% |
4.05% |
-3.00% |
Net Income Q/Q Growth |
|
-93.68% |
10.54% |
0.47% |
61.71% |
-27.87% |
15.45% |
9.13% |
-0.15% |
4.05% |
-3.00% |
EPS Q/Q Growth |
|
-93.75% |
10.26% |
0.00% |
64.29% |
-28.97% |
17.95% |
9.17% |
3.92% |
4.27% |
-0.55% |
Operating Cash Flow Q/Q Growth |
|
15.59% |
9.65% |
-14.18% |
13.00% |
-5.13% |
29.88% |
-7.18% |
2.22% |
-6.80% |
4.54% |
Free Cash Flow Firm Q/Q Growth |
|
-55.14% |
198.94% |
77.74% |
-64.95% |
323.92% |
-112.64% |
52.68% |
-49.87% |
1,738.90% |
670.02% |
Invested Capital Q/Q Growth |
|
4.17% |
0.05% |
-5.63% |
7.49% |
-4.42% |
0.00% |
-7.20% |
37.01% |
9.90% |
-3.53% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
10.16% |
26.88% |
14.21% |
33.64% |
38.62% |
21.59% |
55.24% |
49.56% |
46.64% |
42.65% |
EBIT Margin |
|
4.75% |
22.77% |
11.19% |
31.37% |
36.34% |
16.35% |
50.84% |
46.53% |
42.92% |
39.18% |
Profit (Net Income) Margin |
|
3.65% |
16.30% |
12.09% |
33.18% |
25.45% |
14.37% |
32.64% |
34.65% |
32.47% |
33.21% |
Tax Burden Percent |
|
76.84% |
71.57% |
108.02% |
105.75% |
69.92% |
87.92% |
65.69% |
68.16% |
76.20% |
76.36% |
Interest Burden Percent |
|
100.00% |
100.00% |
100.00% |
100.00% |
100.17% |
100.00% |
97.72% |
109.23% |
99.28% |
111.02% |
Effective Tax Rate |
|
23.16% |
28.43% |
-8.02% |
-5.75% |
30.08% |
12.08% |
34.31% |
31.84% |
23.80% |
23.64% |
Return on Invested Capital (ROIC) |
|
0.69% |
3.08% |
2.21% |
6.49% |
5.40% |
3.26% |
9.39% |
12.09% |
13.71% |
13.61% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
0.69% |
3.08% |
2.21% |
6.49% |
5.40% |
3.26% |
9.39% |
12.09% |
13.71% |
13.61% |
Return on Net Nonoperating Assets (RNNOA) |
|
0.58% |
2.27% |
1.46% |
3.81% |
2.44% |
1.29% |
3.45% |
5.71% |
7.75% |
5.26% |
Return on Equity (ROE) |
|
1.27% |
5.36% |
3.66% |
10.30% |
7.83% |
4.54% |
12.84% |
17.80% |
21.46% |
18.87% |
Cash Return on Invested Capital (CROIC) |
|
2.40% |
6.50% |
-1.76% |
5.65% |
6.58% |
-0.46% |
23.21% |
32.95% |
18.24% |
10.35% |
Operating Return on Assets (OROA) |
|
0.22% |
1.06% |
0.51% |
1.56% |
1.92% |
0.74% |
2.21% |
2.08% |
2.13% |
1.84% |
Return on Assets (ROA) |
|
0.17% |
0.76% |
0.55% |
1.65% |
1.35% |
0.65% |
1.42% |
1.55% |
1.61% |
1.56% |
Return on Common Equity (ROCE) |
|
1.24% |
5.25% |
3.59% |
10.11% |
7.70% |
4.47% |
12.74% |
17.80% |
21.46% |
18.87% |
Return on Equity Simple (ROE_SIMPLE) |
|
1.26% |
5.22% |
3.58% |
9.86% |
7.51% |
4.50% |
13.37% |
23.01% |
20.22% |
17.90% |
Net Operating Profit after Tax (NOPAT) |
|
21 |
93 |
67 |
202 |
167 |
102 |
281 |
305 |
303 |
299 |
NOPAT Margin |
|
3.65% |
16.30% |
12.09% |
33.18% |
25.45% |
14.37% |
32.64% |
34.65% |
32.47% |
33.21% |
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 |
|
39.81% |
39.30% |
41.00% |
39.27% |
37.73% |
38.27% |
36.98% |
36.48% |
36.13% |
38.98% |
Operating Expenses to Revenue |
|
65.77% |
62.07% |
62.77% |
58.92% |
57.55% |
59.62% |
56.79% |
50.32% |
50.55% |
54.16% |
Earnings before Interest and Taxes (EBIT) |
|
28 |
130 |
62 |
191 |
239 |
116 |
438 |
410 |
400 |
352 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
59 |
154 |
79 |
204 |
254 |
154 |
476 |
436 |
435 |
384 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
0.35 |
0.68 |
0.50 |
0.77 |
0.89 |
0.78 |
1.20 |
1.63 |
1.82 |
1.81 |
Price to Tangible Book Value (P/TBV) |
|
0.35 |
0.68 |
0.50 |
0.77 |
0.90 |
0.81 |
1.24 |
1.70 |
1.88 |
1.86 |
Price to Revenue (P/Rev) |
|
0.99 |
2.08 |
1.65 |
2.56 |
2.95 |
2.46 |
2.93 |
2.45 |
2.92 |
3.36 |
Price to Earnings (P/E) |
|
27.23 |
12.82 |
6.97 |
7.82 |
11.80 |
17.56 |
9.10 |
7.07 |
8.98 |
10.11 |
Dividend Yield |
|
0.00% |
0.00% |
0.00% |
0.42% |
1.57% |
2.50% |
2.53% |
3.94% |
3.55% |
3.47% |
Earnings Yield |
|
3.67% |
7.80% |
14.34% |
12.79% |
8.48% |
5.70% |
10.99% |
14.14% |
11.14% |
9.89% |
Enterprise Value to Invested Capital (EV/IC) |
|
0.40 |
0.71 |
0.47 |
0.67 |
0.74 |
0.40 |
0.24 |
1.16 |
1.26 |
1.09 |
Enterprise Value to Revenue (EV/Rev) |
|
2.13 |
3.70 |
2.65 |
3.43 |
3.48 |
1.79 |
0.77 |
2.97 |
2.91 |
2.69 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
20.99 |
13.76 |
18.62 |
10.21 |
9.00 |
8.30 |
1.40 |
5.99 |
6.25 |
6.31 |
Enterprise Value to EBIT (EV/EBIT) |
|
44.92 |
16.24 |
23.65 |
10.95 |
9.57 |
10.96 |
1.52 |
6.38 |
6.79 |
6.87 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
58.46 |
22.69 |
21.89 |
10.35 |
13.66 |
12.46 |
2.37 |
8.57 |
8.98 |
8.11 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
4.75 |
10.61 |
6.21 |
7.24 |
7.77 |
4.28 |
1.67 |
5.93 |
7.49 |
5.99 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
16.74 |
10.77 |
0.00 |
11.90 |
11.20 |
0.00 |
0.96 |
3.14 |
6.75 |
10.67 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
0.82 |
0.66 |
0.65 |
0.53 |
0.38 |
0.41 |
0.33 |
0.70 |
0.44 |
0.34 |
Long-Term Debt to Equity |
|
0.40 |
0.50 |
0.49 |
0.45 |
0.34 |
0.27 |
0.18 |
0.65 |
0.44 |
0.34 |
Financial Leverage |
|
0.84 |
0.74 |
0.66 |
0.59 |
0.45 |
0.39 |
0.37 |
0.47 |
0.57 |
0.39 |
Leverage Ratio |
|
7.52 |
7.04 |
6.62 |
6.26 |
5.82 |
6.97 |
9.04 |
11.50 |
13.30 |
12.06 |
Compound Leverage Factor |
|
7.52 |
7.04 |
6.62 |
6.26 |
5.83 |
6.97 |
8.84 |
12.56 |
13.20 |
13.39 |
Debt to Total Capital |
|
44.92% |
39.91% |
39.56% |
34.44% |
27.71% |
28.88% |
24.55% |
41.33% |
30.64% |
25.18% |
Short-Term Debt to Total Capital |
|
22.76% |
10.09% |
9.70% |
4.81% |
3.24% |
9.38% |
10.77% |
3.33% |
0.00% |
0.00% |
Long-Term Debt to Total Capital |
|
22.16% |
29.81% |
29.86% |
29.63% |
24.47% |
19.50% |
13.78% |
38.01% |
30.64% |
25.18% |
Preferred Equity to Total Capital |
|
1.17% |
1.21% |
1.17% |
1.16% |
1.17% |
1.13% |
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 |
|
53.91% |
58.88% |
59.27% |
64.41% |
71.13% |
70.01% |
75.45% |
58.67% |
69.36% |
74.82% |
Debt to EBITDA |
|
23.30 |
7.71 |
15.54 |
5.25 |
3.36 |
6.01 |
1.44 |
2.14 |
1.52 |
1.46 |
Net Debt to EBITDA |
|
10.61 |
5.77 |
6.54 |
2.42 |
1.21 |
-3.32 |
-3.90 |
1.04 |
0.00 |
-1.56 |
Long-Term Debt to EBITDA |
|
11.49 |
5.76 |
11.73 |
4.52 |
2.97 |
4.06 |
0.81 |
1.97 |
1.52 |
1.46 |
Debt to NOPAT |
|
64.87 |
12.72 |
18.28 |
5.33 |
5.10 |
9.03 |
2.43 |
3.06 |
2.18 |
1.88 |
Net Debt to NOPAT |
|
29.54 |
9.51 |
7.68 |
2.46 |
1.84 |
-4.98 |
-6.61 |
1.49 |
0.00 |
-2.00 |
Long-Term Debt to NOPAT |
|
32.00 |
9.51 |
13.79 |
4.58 |
4.51 |
6.10 |
1.37 |
2.81 |
2.18 |
1.88 |
Noncontrolling Interest Sharing Ratio |
|
2.15% |
2.07% |
1.98% |
1.83% |
1.67% |
1.58% |
0.81% |
0.00% |
0.00% |
0.00% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
74 |
196 |
-53 |
175 |
204 |
-14 |
694 |
831 |
403 |
227 |
Operating Cash Flow to CapEx |
|
10,663.31% |
1,923.16% |
2,505.72% |
1,405.49% |
1,309.21% |
1,852.76% |
2,994.39% |
2,153.01% |
1,606.10% |
4,038.27% |
Free Cash Flow to Firm to Interest Expense |
|
0.72 |
1.94 |
-0.55 |
1.76 |
1.88 |
-0.16 |
10.72 |
12.35 |
2.17 |
0.79 |
Operating Cash Flow to Interest Expense |
|
2.54 |
1.97 |
2.44 |
2.90 |
2.70 |
3.21 |
6.17 |
6.54 |
1.96 |
1.40 |
Operating Cash Flow Less CapEx to Interest Expense |
|
2.51 |
1.87 |
2.34 |
2.69 |
2.50 |
3.04 |
5.96 |
6.24 |
1.84 |
1.37 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
0.05 |
0.05 |
0.05 |
0.05 |
0.05 |
0.05 |
0.04 |
0.04 |
0.05 |
0.05 |
Fixed Asset Turnover |
|
3.56 |
3.67 |
3.78 |
4.20 |
4.42 |
4.62 |
5.65 |
6.09 |
6.55 |
6.53 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
3,076 |
2,972 |
3,093 |
3,119 |
3,082 |
3,199 |
2,786 |
2,259 |
2,159 |
2,231 |
Invested Capital Turnover |
|
0.19 |
0.19 |
0.18 |
0.20 |
0.21 |
0.23 |
0.29 |
0.35 |
0.42 |
0.41 |
Increase / (Decrease) in Invested Capital |
|
-53 |
-103 |
120 |
26 |
-37 |
117 |
-413 |
-526 |
-100 |
72 |
Enterprise Value (EV) |
|
1,245 |
2,115 |
1,466 |
2,087 |
2,286 |
1,275 |
666 |
2,613 |
2,719 |
2,422 |
Market Capitalization |
|
580 |
1,192 |
915 |
1,555 |
1,943 |
1,748 |
2,523 |
2,158 |
2,719 |
3,019 |
Book Value per Share |
|
$7.71 |
$8.05 |
$8.48 |
$9.25 |
$10.09 |
$10.26 |
$10.22 |
$7.18 |
$8.68 |
$10.19 |
Tangible Book Value per Share |
|
$7.71 |
$8.05 |
$8.48 |
$9.25 |
$9.92 |
$9.90 |
$9.89 |
$6.86 |
$8.38 |
$9.91 |
Total Capital |
|
3,076 |
2,972 |
3,093 |
3,119 |
3,082 |
3,199 |
2,786 |
2,259 |
2,159 |
2,231 |
Total Debt |
|
1,381 |
1,186 |
1,224 |
1,074 |
854 |
924 |
684 |
934 |
662 |
562 |
Total Long-Term Debt |
|
681 |
886 |
924 |
924 |
754 |
624 |
384 |
859 |
662 |
562 |
Net Debt |
|
629 |
887 |
515 |
495 |
307 |
-510 |
-1,857 |
455 |
-0.53 |
-597 |
Capital Expenditures (CapEx) |
|
2.46 |
10 |
9.42 |
21 |
22 |
16 |
13 |
20 |
23 |
10 |
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) |
|
1,381 |
1,186 |
1,224 |
1,074 |
854 |
924 |
684 |
934 |
662 |
562 |
Total Depreciation and Amortization (D&A) |
|
32 |
23 |
17 |
14 |
15 |
37 |
38 |
27 |
35 |
31 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
$0.10 |
$0.44 |
$0.30 |
$0.92 |
$0.76 |
$0.46 |
$1.32 |
$0.00 |
$1.72 |
$1.82 |
Adjusted Weighted Average Basic Shares Outstanding |
|
215.21M |
217.51M |
216.33M |
217.24M |
217.36M |
218.23M |
198.41M |
0.00 |
167.32M |
163.87M |
Adjusted Diluted Earnings per Share |
|
$0.10 |
$0.43 |
$0.30 |
$0.92 |
$0.76 |
$0.46 |
$1.31 |
$0.00 |
$1.71 |
$1.81 |
Adjusted Weighted Average Diluted Shares Outstanding |
|
215.21M |
217.51M |
216.33M |
217.24M |
217.36M |
218.23M |
198.41M |
0.00 |
167.32M |
163.87M |
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 |
|
215.21M |
217.51M |
216.33M |
217.24M |
217.36M |
218.23M |
198.41M |
0.00 |
167.32M |
163.87M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
21 |
93 |
43 |
133 |
175 |
126 |
298 |
305 |
303 |
299 |
Normalized NOPAT Margin |
|
3.65% |
16.30% |
7.83% |
21.96% |
26.67% |
17.65% |
34.65% |
34.65% |
32.47% |
33.21% |
Pre Tax Income Margin |
|
4.75% |
22.77% |
11.19% |
31.37% |
36.40% |
16.35% |
49.69% |
50.83% |
42.61% |
43.50% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
0.27 |
1.29 |
0.64 |
1.91 |
2.20 |
1.26 |
6.76 |
6.09 |
2.16 |
1.23 |
NOPAT to Interest Expense |
|
0.21 |
0.92 |
0.69 |
2.02 |
1.54 |
1.10 |
4.34 |
4.53 |
1.63 |
1.04 |
EBIT Less CapEx to Interest Expense |
|
0.24 |
1.19 |
0.54 |
1.71 |
1.99 |
1.08 |
6.55 |
5.78 |
2.04 |
1.19 |
NOPAT Less CapEx to Interest Expense |
|
0.18 |
0.82 |
0.59 |
1.82 |
1.33 |
0.93 |
4.13 |
4.23 |
1.51 |
1.00 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
0.00% |
0.24% |
4.00% |
4.56% |
19.74% |
45.07% |
24.01% |
28.79% |
32.91% |
35.34% |
Augmented Payout Ratio |
|
0.00% |
1.45% |
7.73% |
5.96% |
20.91% |
45.07% |
24.01% |
119.84% |
100.01% |
69.62% |
Quarterly Metrics And Ratios for First BanCorp.
This table displays calculated financial ratios and metrics derived from First BanCorp.'s official financial filings.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
10.67% |
-13.06% |
5.77% |
-0.14% |
-7.95% |
30.02% |
-1.24% |
-2.14% |
2.82% |
-12.49% |
EBITDA Growth |
|
-3.88% |
-49.50% |
-27.04% |
-2.91% |
-6.04% |
73.30% |
-5.19% |
-0.70% |
-11.06% |
-28.41% |
EBIT Growth |
|
-5.41% |
-52.70% |
-29.12% |
-7.23% |
-8.39% |
81.96% |
-5.09% |
0.00% |
-11.25% |
-29.28% |
NOPAT Growth |
|
-1.42% |
-0.63% |
-14.41% |
-5.41% |
2.62% |
16.10% |
3.90% |
7.34% |
-3.70% |
-10.89% |
Net Income Growth |
|
-1.42% |
-0.63% |
-14.41% |
-5.41% |
2.62% |
16.10% |
3.90% |
7.34% |
-3.70% |
-10.89% |
EPS Growth |
|
11.11% |
17.65% |
-4.88% |
2.63% |
15.00% |
17.50% |
12.82% |
17.95% |
-2.17% |
-2.13% |
Operating Cash Flow Growth |
|
45.70% |
9.95% |
0.51% |
-51.28% |
1.84% |
-25.06% |
2.45% |
39.38% |
0.59% |
22.16% |
Free Cash Flow Firm Growth |
|
422.81% |
23.04% |
-129.21% |
-100.53% |
-116.75% |
-69.12% |
346.00% |
2,913.79% |
-14.63% |
-97.80% |
Invested Capital Growth |
|
-45.06% |
-18.89% |
13.64% |
3.53% |
19.14% |
-4.43% |
-20.31% |
-2.89% |
17.70% |
3.32% |
Revenue Q/Q Growth |
|
4.61% |
-17.86% |
19.59% |
-2.83% |
-3.56% |
16.02% |
-9.16% |
-3.71% |
1.33% |
-1.26% |
EBITDA Q/Q Growth |
|
9.61% |
-40.54% |
63.97% |
-9.14% |
6.08% |
9.66% |
-10.30% |
-4.84% |
-4.99% |
-11.73% |
EBIT Q/Q Growth |
|
7.93% |
-44.16% |
72.38% |
-10.70% |
6.58% |
10.90% |
-10.08% |
-5.91% |
-5.40% |
-11.63% |
NOPAT Q/Q Growth |
|
-0.12% |
-1.92% |
-3.38% |
-0.06% |
8.35% |
10.97% |
-13.53% |
3.24% |
-2.78% |
2.68% |
Net Income Q/Q Growth |
|
-0.12% |
-1.92% |
-3.38% |
-0.06% |
8.35% |
10.97% |
-13.53% |
3.24% |
-2.78% |
2.68% |
EPS Q/Q Growth |
|
5.26% |
0.00% |
-2.50% |
0.00% |
17.95% |
2.17% |
-6.38% |
4.55% |
-2.17% |
2.22% |
Operating Cash Flow Q/Q Growth |
|
9.90% |
-8.17% |
9.16% |
-55.78% |
129.75% |
-32.43% |
49.23% |
-39.83% |
65.81% |
-17.94% |
Free Cash Flow Firm Q/Q Growth |
|
51.55% |
-58.01% |
-142.01% |
98.02% |
-4,706.35% |
177.40% |
234.65% |
-77.40% |
-295.80% |
101.49% |
Invested Capital Q/Q Growth |
|
-23.00% |
37.01% |
18.94% |
-17.49% |
-11.39% |
9.90% |
-0.83% |
0.55% |
7.40% |
-3.53% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
47.80% |
34.60% |
47.44% |
44.36% |
48.79% |
46.11% |
45.54% |
45.01% |
42.20% |
37.73% |
EBIT Margin |
|
44.88% |
30.51% |
43.97% |
40.41% |
44.66% |
42.69% |
42.26% |
41.30% |
38.55% |
34.50% |
Profit (Net Income) Margin |
|
31.40% |
37.49% |
30.29% |
31.15% |
35.00% |
33.48% |
31.87% |
34.17% |
32.78% |
34.09% |
Tax Burden Percent |
|
69.96% |
68.69% |
68.88% |
70.00% |
70.24% |
100.09% |
75.41% |
74.81% |
76.49% |
78.83% |
Interest Burden Percent |
|
100.00% |
178.92% |
100.00% |
110.13% |
111.57% |
78.34% |
100.00% |
110.61% |
111.17% |
125.33% |
Effective Tax Rate |
|
30.04% |
31.31% |
31.12% |
30.00% |
29.76% |
-0.09% |
24.59% |
25.19% |
23.51% |
21.17% |
Return on Invested Capital (ROIC) |
|
12.29% |
13.09% |
10.71% |
12.76% |
16.93% |
14.13% |
12.27% |
14.46% |
14.27% |
13.97% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
12.29% |
13.09% |
10.71% |
12.76% |
16.93% |
14.13% |
12.27% |
14.46% |
14.27% |
13.97% |
Return on Net Nonoperating Assets (RNNOA) |
|
4.21% |
6.18% |
6.27% |
6.06% |
6.89% |
7.99% |
8.27% |
7.41% |
6.05% |
5.40% |
Return on Equity (ROE) |
|
16.50% |
19.27% |
16.98% |
18.82% |
23.82% |
22.12% |
20.54% |
21.88% |
20.32% |
19.36% |
Cash Return on Invested Capital (CROIC) |
|
71.31% |
32.95% |
-1.16% |
9.80% |
-1.36% |
18.24% |
35.27% |
17.16% |
-1.86% |
10.35% |
Operating Return on Assets (OROA) |
|
2.06% |
1.36% |
2.02% |
1.87% |
2.11% |
2.12% |
2.08% |
2.01% |
1.92% |
1.62% |
Return on Assets (ROA) |
|
1.44% |
1.68% |
1.39% |
1.44% |
1.65% |
1.66% |
1.56% |
1.66% |
1.63% |
1.61% |
Return on Common Equity (ROCE) |
|
16.33% |
19.27% |
16.98% |
18.84% |
23.82% |
22.12% |
20.54% |
21.88% |
20.32% |
19.36% |
Return on Equity Simple (ROE_SIMPLE) |
|
24.15% |
0.00% |
20.86% |
20.68% |
22.34% |
0.00% |
20.65% |
20.84% |
18.11% |
0.00% |
Net Operating Profit after Tax (NOPAT) |
|
75 |
73 |
71 |
71 |
77 |
85 |
73 |
76 |
74 |
76 |
NOPAT Margin |
|
31.40% |
37.49% |
30.29% |
31.15% |
35.00% |
33.48% |
31.87% |
34.17% |
32.78% |
34.09% |
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 |
|
34.89% |
42.01% |
35.90% |
35.97% |
39.00% |
34.01% |
37.67% |
38.72% |
39.04% |
40.53% |
Operating Expenses to Revenue |
|
48.48% |
57.86% |
49.39% |
49.79% |
53.33% |
49.89% |
52.46% |
53.47% |
54.67% |
56.08% |
Earnings before Interest and Taxes (EBIT) |
|
107 |
60 |
103 |
92 |
98 |
108 |
97 |
92 |
87 |
77 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
114 |
68 |
111 |
101 |
107 |
117 |
105 |
100 |
95 |
84 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
1.85 |
1.63 |
1.36 |
1.48 |
1.75 |
1.82 |
1.98 |
1.99 |
2.01 |
1.81 |
Price to Tangible Book Value (P/TBV) |
|
1.95 |
1.70 |
1.42 |
1.54 |
1.82 |
1.88 |
2.05 |
2.06 |
2.06 |
1.86 |
Price to Revenue (P/Rev) |
|
2.58 |
2.45 |
2.14 |
2.31 |
2.61 |
2.92 |
3.15 |
3.21 |
3.66 |
3.36 |
Price to Earnings (P/E) |
|
7.73 |
7.07 |
6.53 |
7.14 |
6.02 |
8.98 |
9.58 |
9.56 |
15.47 |
10.11 |
Dividend Yield |
|
3.53% |
3.94% |
4.72% |
4.53% |
4.23% |
3.55% |
3.42% |
3.36% |
2.98% |
3.47% |
Earnings Yield |
|
12.93% |
14.14% |
15.32% |
14.01% |
16.62% |
11.14% |
10.44% |
10.46% |
6.46% |
9.89% |
Enterprise Value to Invested Capital (EV/IC) |
|
1.32 |
1.16 |
0.88 |
0.83 |
1.20 |
1.26 |
1.36 |
1.42 |
1.44 |
1.09 |
Enterprise Value to Revenue (EV/Rev) |
|
2.39 |
2.97 |
2.66 |
2.06 |
2.69 |
2.91 |
3.13 |
3.30 |
3.59 |
2.69 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
4.33 |
5.99 |
6.00 |
4.68 |
6.11 |
6.25 |
6.77 |
7.12 |
8.01 |
6.31 |
Enterprise Value to EBIT (EV/EBIT) |
|
4.57 |
6.38 |
6.45 |
5.09 |
6.70 |
6.79 |
7.36 |
7.72 |
8.69 |
6.87 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
7.12 |
8.57 |
8.09 |
6.35 |
8.09 |
8.98 |
9.52 |
9.82 |
10.84 |
8.11 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
5.05 |
5.93 |
5.38 |
4.74 |
6.05 |
7.49 |
7.95 |
7.91 |
8.64 |
5.99 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
1.31 |
3.14 |
0.00 |
8.60 |
0.00 |
6.75 |
3.42 |
8.14 |
0.00 |
10.67 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
0.30 |
0.70 |
0.91 |
0.59 |
0.51 |
0.44 |
0.45 |
0.44 |
0.36 |
0.34 |
Long-Term Debt to Equity |
|
0.15 |
0.65 |
0.79 |
0.53 |
0.51 |
0.44 |
0.45 |
0.44 |
0.36 |
0.34 |
Financial Leverage |
|
0.34 |
0.47 |
0.59 |
0.47 |
0.41 |
0.57 |
0.67 |
0.51 |
0.42 |
0.39 |
Leverage Ratio |
|
11.46 |
11.50 |
12.21 |
13.09 |
14.42 |
13.30 |
13.12 |
13.16 |
12.47 |
12.06 |
Compound Leverage Factor |
|
11.46 |
20.58 |
12.21 |
14.41 |
16.09 |
10.42 |
13.12 |
14.56 |
13.86 |
15.12 |
Debt to Total Capital |
|
23.27% |
41.33% |
47.70% |
36.95% |
33.68% |
30.64% |
30.90% |
30.73% |
26.45% |
25.18% |
Short-Term Debt to Total Capital |
|
12.13% |
3.33% |
6.44% |
3.33% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Long-Term Debt to Total Capital |
|
11.14% |
38.01% |
41.26% |
33.62% |
33.68% |
30.64% |
30.90% |
30.73% |
26.45% |
25.18% |
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 |
|
76.73% |
58.67% |
52.30% |
63.05% |
66.32% |
69.36% |
69.10% |
69.27% |
73.55% |
74.82% |
Debt to EBITDA |
|
0.76 |
2.14 |
3.24 |
2.09 |
1.72 |
1.52 |
1.54 |
1.54 |
1.47 |
1.46 |
Net Debt to EBITDA |
|
-0.34 |
1.04 |
1.16 |
-0.58 |
0.20 |
0.00 |
-0.05 |
0.19 |
-0.17 |
-1.56 |
Long-Term Debt to EBITDA |
|
0.37 |
1.97 |
2.80 |
1.90 |
1.72 |
1.52 |
1.54 |
1.54 |
1.47 |
1.46 |
Debt to NOPAT |
|
1.26 |
3.06 |
4.37 |
2.83 |
2.27 |
2.18 |
2.17 |
2.13 |
1.99 |
1.88 |
Net Debt to NOPAT |
|
-0.55 |
1.49 |
1.57 |
-0.79 |
0.27 |
0.00 |
-0.06 |
0.26 |
-0.24 |
-2.00 |
Long-Term Debt to NOPAT |
|
0.60 |
2.81 |
3.78 |
2.58 |
2.27 |
2.18 |
2.17 |
2.13 |
1.99 |
1.88 |
Noncontrolling Interest Sharing Ratio |
|
1.04% |
0.00% |
0.00% |
-0.11% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
1,427 |
599 |
-252 |
-4.98 |
-239 |
185 |
619 |
140 |
-274 |
4.07 |
Operating Cash Flow to CapEx |
|
3,197.56% |
2,107.49% |
6,833.33% |
351.47% |
3,146.42% |
2,977.83% |
2,856.18% |
4,143.45% |
4,662.45% |
5,971.68% |
Free Cash Flow to Firm to Interest Expense |
|
96.61 |
21.50 |
-6.07 |
-0.10 |
-3.76 |
6.64 |
8.60 |
1.93 |
-3.77 |
0.06 |
Operating Cash Flow to Interest Expense |
|
7.79 |
3.79 |
2.78 |
0.97 |
1.84 |
2.84 |
1.64 |
0.98 |
1.62 |
1.37 |
Operating Cash Flow Less CapEx to Interest Expense |
|
7.55 |
3.61 |
2.74 |
0.70 |
1.78 |
2.75 |
1.59 |
0.96 |
1.59 |
1.35 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
0.05 |
0.04 |
0.05 |
0.05 |
0.05 |
0.05 |
0.05 |
0.05 |
0.05 |
0.05 |
Fixed Asset Turnover |
|
6.20 |
6.09 |
6.30 |
6.12 |
6.07 |
6.55 |
6.66 |
6.49 |
6.63 |
6.53 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
1,649 |
2,259 |
2,687 |
2,217 |
1,965 |
2,159 |
2,141 |
2,153 |
2,313 |
2,231 |
Invested Capital Turnover |
|
0.39 |
0.35 |
0.35 |
0.41 |
0.48 |
0.42 |
0.39 |
0.42 |
0.44 |
0.41 |
Increase / (Decrease) in Invested Capital |
|
-1,353 |
-526 |
322 |
76 |
316 |
-100 |
-546 |
-64 |
348 |
72 |
Enterprise Value (EV) |
|
2,175 |
2,613 |
2,373 |
1,836 |
2,355 |
2,719 |
2,908 |
3,051 |
3,339 |
2,422 |
Market Capitalization |
|
2,345 |
2,158 |
1,914 |
2,064 |
2,277 |
2,719 |
2,928 |
2,971 |
3,412 |
3,019 |
Book Value per Share |
|
$6.73 |
$7.18 |
$7.78 |
$7.78 |
$7.31 |
$8.68 |
$8.89 |
$8.96 |
$10.38 |
$10.19 |
Tangible Book Value per Share |
|
$6.40 |
$6.86 |
$7.46 |
$7.47 |
$7.01 |
$8.38 |
$8.59 |
$8.67 |
$10.09 |
$9.91 |
Total Capital |
|
1,649 |
2,259 |
2,687 |
2,217 |
1,965 |
2,159 |
2,141 |
2,153 |
2,313 |
2,231 |
Total Debt |
|
384 |
934 |
1,282 |
819 |
662 |
662 |
662 |
662 |
612 |
562 |
Total Long-Term Debt |
|
184 |
859 |
1,109 |
745 |
662 |
662 |
662 |
662 |
612 |
562 |
Net Debt |
|
-169 |
455 |
459 |
-228 |
77 |
-0.53 |
-19 |
79 |
-73 |
-597 |
Capital Expenditures (CapEx) |
|
3.60 |
5.02 |
1.69 |
15 |
3.73 |
2.66 |
4.14 |
1.72 |
2.53 |
1.62 |
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) |
|
384 |
934 |
1,282 |
819 |
662 |
662 |
662 |
662 |
612 |
562 |
Total Depreciation and Amortization (D&A) |
|
6.94 |
7.98 |
8.08 |
8.95 |
9.03 |
8.68 |
7.56 |
8.24 |
8.21 |
7.16 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
$0.40 |
$0.40 |
$0.39 |
$0.39 |
$0.47 |
$0.47 |
$0.44 |
$0.46 |
$0.45 |
$0.47 |
Adjusted Weighted Average Basic Shares Outstanding |
|
184.61M |
180.59M |
179.79M |
178.30M |
172.55M |
167.32M |
166.43M |
163.87M |
163.87M |
163.87M |
Adjusted Diluted Earnings per Share |
|
$0.40 |
$0.40 |
$0.39 |
$0.39 |
$0.46 |
$0.47 |
$0.44 |
$0.46 |
$0.45 |
$0.46 |
Adjusted Weighted Average Diluted Shares Outstanding |
|
184.61M |
180.59M |
179.79M |
178.30M |
172.55M |
167.32M |
166.43M |
163.87M |
163.87M |
163.87M |
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 |
|
184.61M |
180.59M |
179.79M |
178.30M |
172.55M |
167.32M |
166.43M |
163.87M |
163.87M |
163.87M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
75 |
73 |
71 |
71 |
77 |
59 |
73 |
76 |
74 |
76 |
Normalized NOPAT Margin |
|
31.40% |
37.49% |
30.29% |
31.15% |
35.00% |
23.41% |
31.87% |
34.17% |
32.78% |
34.09% |
Pre Tax Income Margin |
|
44.88% |
54.58% |
43.97% |
44.51% |
49.83% |
33.45% |
42.26% |
45.68% |
42.86% |
43.25% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
7.22 |
2.14 |
2.47 |
1.75 |
1.53 |
3.89 |
1.35 |
1.26 |
1.19 |
1.09 |
NOPAT to Interest Expense |
|
5.05 |
2.62 |
1.70 |
1.35 |
1.20 |
3.05 |
1.02 |
1.04 |
1.02 |
1.07 |
EBIT Less CapEx to Interest Expense |
|
6.97 |
1.96 |
2.43 |
1.47 |
1.48 |
3.79 |
1.30 |
1.24 |
1.16 |
1.06 |
NOPAT Less CapEx to Interest Expense |
|
4.81 |
2.44 |
1.66 |
1.07 |
1.14 |
2.95 |
0.96 |
1.02 |
0.98 |
1.05 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
28.31% |
28.79% |
31.80% |
33.09% |
33.63% |
32.91% |
33.10% |
32.81% |
33.56% |
35.34% |
Augmented Payout Ratio |
|
28.31% |
119.84% |
31.80% |
33.09% |
33.63% |
100.01% |
99.32% |
32.81% |
33.56% |
69.62% |
Key Financial Trends
First BanCorp (NYSE: FBP) has shown steady financial performance over the past two years through 2024, with several positive trends and a few areas to watch:
- Net interest income has gradually increased from approximately $196.7 million in Q4 2023 to $209.3 million in Q4 2024, reflecting improved core banking profitability.
- Consistent growth in loans and leases interest income, rising from $203.1 million in Q4 2022 to nearly $244.7 million in Q4 2024, indicating loan portfolio growth and stable interest revenue.
- Non-interest income, including service charges and investment banking income, totaled about $32.2 million in Q4 2024, showing diversification of revenue streams beyond interest income.
- Net income attributable to common shareholders increased to $75.7 million in Q4 2024, up from $73.2 million in Q4 2023, representing steady bottom-line growth.
- Positive cash flow from continuing operating activities has been consistent, with $96.8 million generated in Q4 2024 and higher operating cash flows in previous quarters.
- Solid capital position with total common equity increasing to approximately $1.7 billion by Q3 2024, up from about $1.3 billion in Q3 2023.
- Total assets remained relatively stable around $18.8 billion in 2024 quarters, showing no significant expansion nor contraction in asset base.
- Dividends per share have been steady at $0.16 during 2024 quarters, indicating a consistent return to shareholders.
- Provision for credit losses increased to $20.9 million in Q4 2024 from $18.8 million in Q4 2023, suggesting increased caution or deterioration in credit quality.
- Total non-interest expense rose to $124.5 million in Q4 2024 compared to $126.6 million in Q4 2023, reflecting ongoing cost pressures especially in salaries, occupancy, and other operating expenses.
Overall, First BanCorp presents a solid financial profile with growing net interest income and consistent profitability. The company benefits from a strong capital base and positive operating cash flows. However, investors should monitor rising credit loss provisions and non-interest expenses, which could impact future earnings if the trends continue.
08/28/25 11:21 PM ETAI Generated. May Contain Errors.