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First BanCorp. (FBP) Financials

First BanCorp. logo
$20.52 +0.13 (+0.64%)
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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.

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		 21 93 131 199 165 100 277 305 303 299
Consolidated Net Income / (Loss)		 21 93 67 202 167 102 281 305 303 299
Net Income / (Loss) Continuing Operations		 21 167 67 202 167 102 291 267 303 260
Total Pre-Tax Income 		28 130 62 191 239 116 428 448 397 391
Total Revenue		 584 572 554 608 658 712 861 881 933 899
Net Interest Income / (Expense)		 502 484 492 525 567 600 730 795 797 807
Total Interest Income		 606 585 588 625 676 693 795 863 1,023 1,095
Loans and Leases Interest Income		 549 531 533 554 603 631 719 748 891 965
Investment Securities Interest Income		 55 51 51 60 60 59 73 103 103 93
Deposits and Money Market Investments Interest Income		 - 3.37 4.61 11 13 3.39 2.66 12 30 37
Total Interest Expense		 103 101 97 100 109 93 65 67 185 288
Deposits Interest Expense		 69 67 67 68 78 68 41 46 185 253
Short-Term Borrowings Interest Expense		 - - - - - - 0.00 2.51 - 0.02
Long-Term Debt Interest Expense		 12 14 19 23 24 18 13 18 0.00 35
Federal Funds Purchased and Securities Sold Interest Expense		 22 20 11 9.40 6.65 6.65 0.00 0.00 0.00 0.00
Total Non-Interest Income		 81 88 62 82 91 111 121 123 133 131
Other Service Charges		 70 51 65 72 81 89 109 72 80 78
Net Realized & Unrealized Capital Gains on Investments		 40 5.18 1.76 2.23 -0.50 13 0.00 0.00 1.61 0.00
Investment Banking Income		 7.06 8.47 8.20 8.43 10 9.36 12 14 13 14
Provision for Credit Losses		 172 87 144 59 40 171 -66 28 61 60
Total Non-Interest Expense		 384 355 348 358 378 424 489 443 471 487
Salaries and Employee Benefits		 150 151 152 159 162 177 200 206 223 236
Net Occupancy & Equipment Expense		 67 62 63 64 70 83 103 97 94 97
Marketing Expense		 15 11 12 15 16 12 15 18 20 18
Property & Liability Insurance Claims		 - 20 14 8.91 6.32 6.49 6.54 6.15 15 9.82
Other Operating Expenses		 152 110 107 111 113 119 138 116 120 127
Restructuring Charge		 - - 0.00 0.00 11 27 26 0.00 0.00 0.00
Income Tax Expense		 6.42 37 -4.97 -11 72 14 147 143 95 92
Basic Earnings per Share		 $0.10 $0.44 $0.30 $0.92 $0.76 $0.46 $1.32 $1.60 $1.72 $1.82
Weighted Average Basic Shares Outstanding		 211.46M 212.82M 214.30M 216.20M 217.36M 218.23M 198.41M 180.59M 167.32M 163.87M
Diluted Earnings per Share		 $0.10 $0.43 $0.30 $0.92 $0.76 $0.46 $1.31 $1.59 $1.71 $1.81
Weighted Average Diluted Shares Outstanding		 211.46M 212.82M 214.30M 216.20M 217.36M 218.23M 198.41M 180.59M 167.32M 163.87M
Weighted Average Basic & Diluted Shares Outstanding		 211.46M 212.82M 214.30M 216.20M 217.36M 218.23M 198.41M 180.59M 167.32M 163.87M
Cash Dividends to Common per Share		 $0.00 $0.00 $0.00 $0.03 $0.14 $0.20 $0.31 $0.46 $0.56 $0.64

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
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
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
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		 -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
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
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
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		 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
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024
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
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		 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
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
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 a generally positive financial performance trend over the past four years, with incremental improvements in net income, revenue, and efficient cash flow management, despite some expense fluctuations and provisioning impacts.

  • Net interest income increased steadily from approximately $196.7 million in Q4 2023 to $209.3 million in Q4 2024, reflecting growth in loans, investments, and deposit interest income.
  • Consolidated net income rose from $73.2 million in Q4 2022 to $75.7 million in Q4 2024, showcasing consistent profitability improvement.
  • Operating cash flow remains strong, with net cash from continuing operating activities reaching $96.8 million in Q4 2024, supporting business operations and investments.
  • Total deposits grew notably in Q4 2024, as indicated by a $529 million increase in net deposits during the quarter, demonstrating strong customer engagement and liquidity.
  • Capital expenditures and investment in equipment show prudent management, with modest and stable spending around $1.6 million in Q4 2024, suggesting controlled operational costs.
  • Consistent payment of dividends, increasing marginally from $0.12 per share in early 2023 to $0.16 in late 2024, indicating confident cash distributions to shareholders.
  • Provision for credit losses has varied, increasing to $20.9 million in Q4 2024 from lower prior quarters, reflecting prudent risk management but also potential credit quality concerns.
  • Total revenue showed some quarter-to-quarter volatility but remained around $222 million in Q4 2024, with non-interest income sources contributing moderately.
  • Total non-interest expenses have increased to approximately $124.5 million in Q4 2024, driven largely by employee benefits and operational costs, putting pressure on operating margins.
  • Long-term debt interest expense remains significant, about $7.7 million in Q4 2024, impacting net interest margins marginally and reflecting ongoing debt servicing costs.

Overall, First BanCorp demonstrates solid growth in core banking activities, sustained profitability, and good liquidity positioning. Investors should watch the rising provisions for credit losses and expense management for potential impact on future earnings. The steady dividend growth is a positive signal of management's confidence in ongoing cash generation.

08/08/25 08:58 AMAI Generated. May Contain Errors.

Frequently Asked Questions About First BanCorp.'s Financials

When does First BanCorp.'s financial year end?

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

How has First BanCorp.'s net income changed over the last 9 years?

First BanCorp.'s net income appears to be on an upward trend, with a most recent value of $298.72 million in 2024, rising from $21.30 million in 2015. The previous period was $302.86 million in 2023. Check out First BanCorp.'s forecast to explore projected trends and price targets.

How has First BanCorp.'s revenue changed over the last 9 years?

Over the last 9 years, First BanCorp.'s total revenue changed from $583.59 million in 2015 to $899.38 million in 2024, a change of 54.1%.

How much debt does First BanCorp. have?

First BanCorp.'s total liabilities were at $17.62 billion at the end of 2024, a 1.2% increase from 2023, and a 62.0% increase since 2015.

How much cash does First BanCorp. have?

In the past 9 years, First BanCorp.'s cash and equivalents has ranged from $296.89 million in 2016 to $2.54 billion in 2021, and is currently $1.16 billion as of their latest financial filing in 2024.

How has First BanCorp.'s book value per share changed over the last 9 years?

Over the last 9 years, First BanCorp.'s book value per share changed from 7.71 in 2015 to 10.19 in 2024, a change of 32.1%.


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