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First Citizens BancShares (FCNCP) Financials

First Citizens BancShares logo
$22.11 +0.23 (+1.06%)
As of 03:16 PM Eastern
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Annual Income Statements for First Citizens BancShares

Annual Income Statements for First Citizens BancShares

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

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 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		 139 210 225 324 400 457 478 529 1,048 11,407 2,716
Consolidated Net Income / (Loss)		 139 210 225 324 400 457 492 547 1,098 11,466 2,777
Net Income / (Loss) Continuing Operations		 139 210 225 324 400 457 492 547 1,098 11,466 2,777
Total Pre-Tax Income 		204 332 351 544 504 592 618 701 1,362 12,077 3,592
Total Revenue		 1,053 1,392 1,322 1,582 1,609 1,727 1,865 1,898 5,082 18,787 9,758
Net Interest Income / (Expense)		 710 925 945 1,060 1,209 1,311 1,388 1,390 2,946 6,712 7,143
Total Interest Income		 760 969 988 1,104 1,246 1,404 1,484 1,451 3,413 10,391 12,353
Loans and Leases Interest Income		 701 875 876 956 1,073 1,217 1,333 1,295 2,953 8,187 9,528
Investment Securities Interest Income		 56 88 97 121 151 160 144 145 354 648 1,347
Deposits and Money Market Investments Interest Income		 3.71 6.07 15 27 22 26 7.00 11 106 1,556 1,478
Total Interest Expense		 50 44 43 44 37 93 96 61 467 3,679 5,210
Deposits Interest Expense		 25 21 18 16 22 76 67 33 335 2,497 3,864
Long-Term Debt Interest Expense		 16 18 23 25 12 13 29 28 132 1,182 1,346
Total Non-Interest Income		 343 467 377 522 400 416 477 508 2,136 12,075 2,615
Other Service Charges		 346 432 53 29 20 18 385 36 822 1,313 1,520
Net Realized & Unrealized Capital Gains on Investments		 29 54 60 175 19 49 60 469 453 9,802 34
Other Non-Interest Income		 -32 -19 265 318 361 349 32 3.00 861 960 1,061
Provision for Credit Losses		 0.64 21 33 26 28 31 58 -37 645 1,375 431
Total Non-Interest Expense		 849 1,039 938 1,012 1,077 1,104 1,189 1,234 3,075 5,335 5,735
Salaries and Employee Benefits		 349 430 444 491 528 551 722 759 1,408 2,636 3,078
Net Occupancy & Equipment Expense		 166 191 195 202 212 223 233 236 596 888 965
Marketing Expense		 - - - - - - 10 10 53 102 76
Property & Liability Insurance Claims		 13 18 21 22 19 11 13 14 31 158 138
Other Operating Expenses		 308 386 273 288 312 301 179 174 388 653 811
Depreciation Expense		 - - - - - - 0.00 0.00 345 371 394
Amortization Expense		 - - - - - - 15 12 23 57 63
Restructuring Charge		 13 14 5.34 9.02 6.46 17 17 29 231 470 210
Income Tax Expense		 65 122 126 220 103 135 126 154 264 611 815
Preferred Stock Dividends Declared		 - - - - 0.00 0.00 14 18 50 59 61
Basic Earnings per Share		 $13.56 $17.52 $18.77 $29.96 $33.53 $41.05 $47.50 $53.88 $67.47 $785.14 $189.42
Weighted Average Basic Shares Outstanding		 10.22M 12.01M 12.01M 12.01M 11.94M 11.14M 10.06M 9.82M 15.53M 14.53M 14.34M
Diluted Earnings per Share		 $13.56 $17.52 - $29.96 - - $47.50 $53.88 $67.40 $784.51 $189.41
Weighted Average Diluted Shares Outstanding		 10.20M 12M 6M 12.01M 11.90M 10.51M 10.06M 9.82M 15.55M 14.54M 14.34M
Weighted Average Basic & Diluted Shares Outstanding		 10.20M 12M 6M 12.01M 11.90M 10.51M 9.82M 15.98M 14.51M 14.52M 13.58M
Cash Dividends to Common per Share		 $1.20 $1.20 $1.20 $1.25 $1.45 $1.60 $1.67 $1.88 $2.16 $3.89 $6.87

Quarterly Income Statements for First Citizens BancShares

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

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Net Income / (Loss) Attributable to Common Shareholders		 243 9,504 667 737 499 716 691 624 685 468 561
Consolidated Net Income / (Loss)		 257 9,518 682 752 514 731 707 639 700 483 575
Net Income / (Loss) Continuing Operations		 257 9,518 682 752 514 731 707 639 700 483 575
Total Pre-Tax Income 		392 9,471 896 997 713 1,004 979 873 736 651 758
Total Revenue		 1,231 11,109 2,619 2,605 2,454 2,444 2,460 2,446 2,408 2,298 2,373
Net Interest Income / (Expense)		 802 850 1,961 1,990 1,911 1,817 1,821 1,796 1,709 1,663 1,695
Total Interest Income		 1,040 1,211 2,953 3,110 3,117 3,084 3,130 3,138 3,001 2,895 2,945
Loans and Leases Interest Income		 892 1,017 2,353 2,426 2,391 2,354 2,422 2,430 2,322 2,236 2,270
Investment Securities Interest Income		 92 107 120 180 241 282 330 358 377 414 419
Deposits and Money Market Investments Interest Income		 56 87 480 504 485 448 378 350 302 245 256
Total Interest Expense		 238 361 992 1,120 1,206 1,267 1,309 1,342 1,292 1,232 1,250
Deposits Interest Expense		 176 288 575 769 865 928 975 1,004 957 893 894
Long-Term Debt Interest Expense		 62 73 417 351 341 339 334 338 335 339 356
Total Non-Interest Income		 429 10,259 658 615 543 627 639 650 699 635 678
Other Service Charges		 226 221 36 358 698 368 378 370 404 365 396
Net Realized & Unrealized Capital Gains on Investments		 2.00 9,814 622 10 -644 8.00 4.00 9.00 15 5.00 8.00
Other Non-Interest Income		 201 224 - 247 - 251 257 271 280 265 274
Provision for Credit Losses		 79 783 151 192 249 64 95 117 155 154 115
Total Non-Interest Expense		 760 855 1,572 1,416 1,492 1,376 1,386 1,456 1,517 1,493 1,500
Salaries and Employee Benefits		 354 420 775 727 714 744 745 788 801 818 810
Net Occupancy & Equipment Expense		 150 164 253 233 238 221 244 249 251 252 247
Marketing Expense		 21 15 41 22 24 14 18 20 24 32 32
Property & Liability Insurance Claims		 5.00 18 22 36 82 41 33 31 33 38 38
Other Operating Expenses		 107 116 167 165 205 185 189 208 229 198 222
Depreciation Expense		 88 89 91 95 96 96 98 99 101 98 100
Amortization Expense		 6.00 5.00 18 17 17 17 15 15 16 15 13
Restructuring Charge		 29 28 205 121 116 58 44 46 62 42 38
Income Tax Expense		 135 -47 214 245 199 273 272 234 36 168 183
Preferred Stock Dividends Declared		 14 14 15 15 15 15 16 15 15 15 14
Basic Earnings per Share		 $16.63 $654.22 $45.90 $50.71 $34.31 $49.27 $47.54 $43.42 $49.19 $34.47 $42.36
Weighted Average Basic Shares Outstanding		 15.53M 14.53M 14.53M 14.53M 14.53M 14.53M 14.53M 14.38M 14.34M 13.58M 13.24M
Diluted Earnings per Share		 $16.59 $653.64 $45.87 $50.67 $34.33 $49.26 $47.54 $43.42 $49.19 $34.47 $42.36
Weighted Average Diluted Shares Outstanding		 15.55M 14.54M 14.54M 14.54M 14.54M 14.54M 14.53M 14.38M 14.34M 13.58M 13.24M
Weighted Average Basic & Diluted Shares Outstanding		 14.51M 14.52M 14.52M 14.52M 14.52M 14.53M 14.47M 13.99M 13.58M 13.29M 12.92M

Annual Cash Flow Statements for First Citizens BancShares

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

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 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		 71 -70 5.66 -204 -8.71 49 -15 -24 180 390 -94
Net Cash From Operating Activities		 182 233 231 355 454 578 376 -284 2,791 2,660 2,988
Net Cash From Continuing Operating Activities		 182 233 231 355 454 578 376 -284 2,791 2,660 2,988
Net Income / (Loss) Continuing Operations		 139 210 225 324 400 457 492 547 1,098 11,466 2,777
Consolidated Net Income / (Loss)		 139 210 225 324 400 457 492 547 1,098 11,466 2,777
Provision For Loan Losses		 0.64 21 33 26 28 31 58 -37 645 1,375 431
Depreciation Expense		 75 88 89 91 97 104 133 143 533 -57 130
Non-Cash Adjustments to Reconcile Net Income		 -34 -47 -16 5.09 -66 39 885 914 270 -9,211 1,257
Changes in Operating Assets and Liabilities, net		 43 24 -78 -73 2.98 -50 -1,192 -1,851 245 -913 -1,607
Net Cash From Investing Activities		 -18 -1,248 -1,100 -669 101 -1,596 -9,908 -7,568 75 2,429 -10,155
Net Cash From Continuing Investing Activities		 -18 -1,248 -1,100 -669 101 -1,596 -9,908 -7,568 75 2,429 -10,155
Purchase of Property, Leasehold Improvements and Equipment		 -83 -90 -82 -85 -140 -121 -133 -107 -926 -1,428 -1,535
Purchase of Investment Securities		 -3,333 -4,118 -5,302 -4,862 -1,552 -5,257 -14,643 -7,778 -2,740 -13,052 -31,245
Sale of Property, Leasehold Improvements and Equipment		 - 0.00 0.00 3.06 1.72 0.13 1.00 1.00 13 0.00 250
Divestitures		 - 0.00 - - - - - - - - 0.00
Sale and/or Maturity of Investments		 3,399 3,015 4,325 4,283 2,971 5,102 4,867 316 4,132 16,005 22,448
Other Investing Activities, net		 0.00 -22 -20 -7.73 -1,024 -1,321 0.00 0.00 -538 94 -73
Net Cash From Financing Activities		 -94 945 876 110 -564 1,067 9,517 7,828 -2,686 -4,699 7,073
Net Cash From Continuing Financing Activities		 -94 945 876 110 -564 1,067 9,517 7,828 -2,686 -4,699 7,073
Net Change in Deposits		 -2.18 1,017 782 0.87 490 1,439 8,979 7,976 -1,691 265 9,461
Issuance of Debt		 0.00 350 150 175 125 200 746 0.00 6,959 10,491 0.00
Repayment of Debt		 -80 -404 -42 -52 -999 -101 -87 -54 -6,454 -15,370 -450
Repurchase of Common Equity		 - 0.00 0.00 0.00 -163 -453 -334 0.00 -1,240 0.00 -1,648
Payment of Dividends		 -12 -18 -14 -14 -17 -18 -30 -42 -83 -117 -158
Other Financing Activities, Net		 -0.62 0.00 - - - - -97 -52 -177 32 -132
Cash Interest Paid		 49 47 45 44 37 78 105 62 525 3,686 5,079
Cash Income Taxes Paid		 128 137 109 89 74 83 117 870 -551 514 763

Quarterly Cash Flow Statements for First Citizens BancShares

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

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Net Change in Cash & Equivalents		 37 1,080 -682 -125 117 -210 66 98 -48 -2.00 77
Net Cash From Operating Activities		 1,054 -362 916 1,205 901 461 417 991 1,119 98 859
Net Cash From Continuing Operating Activities		 1,054 -362 916 1,205 901 461 417 991 1,119 98 859
Net Income / (Loss) Continuing Operations		 257 9,518 682 752 514 731 707 639 700 483 575
Consolidated Net Income / (Loss)		 257 9,518 682 752 514 731 707 639 700 483 575
Provision For Loan Losses		 79 783 151 192 249 64 95 117 155 154 115
Depreciation Expense		 134 124 -34 -102 -45 -12 6.00 42 94 93 100
Non-Cash Adjustments to Reconcile Net Income		 186 -9,872 -168 776 53 239 87 367 564 251 395
Changes in Operating Assets and Liabilities, net		 398 -915 285 -413 130 -561 -478 -174 -394 -883 -326
Net Cash From Investing Activities		 -730 2,628 3,913 -3,754 -358 -4,291 -1,819 -301 -3,744 -4,877 -562
Net Cash From Continuing Investing Activities		 -730 2,628 3,913 -3,754 -358 -4,291 -1,819 -301 -3,744 -4,877 -562
Purchase of Property, Leasehold Improvements and Equipment		 -381 -332 -382 -298 -416 -285 -338 -471 -441 -273 -341
Purchase of Investment Securities		 -927 838 3,273 -6,212 -10,951 -8,692 -9,215 -2,114 -11,224 -3,554 -1,166
Sale of Property, Leasehold Improvements and Equipment		 - 33 43 102 -178 66 37 46 101 63 61
Sale and/or Maturity of Investments		 730 611 1,506 2,508 11,380 4,557 7,674 2,163 8,054 -1,242 886
Other Investing Activities, net		 -152 131 -59 215 -193 63 23 75 -234 129 -2.00
Net Cash From Financing Activities		 -287 -1,186 -5,511 2,424 -426 3,620 1,468 -592 2,577 4,777 -220
Net Cash From Continuing Financing Activities		 -287 -1,186 -5,511 2,424 -426 3,620 1,468 -592 2,577 4,777 -220
Net Change in Deposits		 1,881 -5,446 1,132 4,894 -315 3,789 1,518 461 3,693 4,113 762
Repayment of Debt		 -2,259 -2,771 -10,052 -2,443 -104 -31 -1.00 -316 -102 -1.00 -351
Repurchase of Common Equity		 -448 - - - - 0.00 - - -948 -618 -613
Payment of Dividends		 -25 -26 -26 -26 -39 -39 -39 -38 -42 -42 -40
Other Financing Activities, Net		 -142 57 -55 -1.00 31 -99 -10 1.00 -24 83 22
Cash Interest Paid		 210 366 1,001 1,076 1,243 1,294 1,324 1,387 1,074 1,224 1,198
Cash Income Taxes Paid		 -539 0.00 427 2.00 85 53 650 51 9.00 40 131

Annual Balance Sheets for First Citizens BancShares

This table presents First Citizens BancShares' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 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		 355 31,476 32,991 34,528 35,409 39,824 49,958 58,309 109,298 213,758 223,720
Cash and Due from Banks		 - 534 540 336 327 377 362 338 518 908 814
Interest Bearing Deposits at Other Banks		 - - - - - - - 9,115 5,025 33,609 21,364
Trading Account Securities		 - 6,862 7,007 7,180 6,834 7,173 9,923 - 19,369 30,472 44,248
Loans and Leases, Net of Allowance		 0.00 20,034 21,519 23,375 25,300 28,656 32,568 0.00 69,859 131,555 138,545
Loans and Leases		 - 20,240 21,738 23,597 25,523 28,881 32,792 - 70,781 133,302 140,221
Allowance for Loan and Lease Losses		 - 206 219 222 224 225 224 - 922 1,747 1,676
Loans Held for Sale		 - 60 74 51 46 68 125 - 60 76 85
Premises and Equipment, Net		 - 1,136 1,133 1,138 1,204 1,244 1,251 - 9,612 8,746 9,323
Goodwill		 140 140 151 151 236 349 350 346 346 346 346
Intangible Assets		 - 91 78 73 72 68 51 19 140 312 249
Other Assets		 216 2,616 2,471 2,128 1,279 1,765 5,182 1,855 4,369 5,857 6,740
Total Liabilities & Shareholders' Equity		 -53 31,476 32,991 34,528 35,409 39,824 49,958 58,309 109,298 213,758 223,720
Total Liabilities		 0.00 28,604 29,978 31,193 31,920 36,238 45,728 53,571 99,636 192,503 201,492
Non-Interest Bearing Deposits		 - 9,274 10,131 11,237 11,883 12,927 18,014 21,405 24,922 39,799 38,633
Interest Bearing Deposits		 - 17,656 18,031 18,029 18,790 21,504 25,418 30,001 64,486 106,055 116,596
Short-Term Debt		 - 595 603 694 558 443 730 589 2,186 485 367
Long-Term Debt		 - 704 833 870 334 884 1,160 1,195 4,459 37,169 36,684
Other Long-Term Liabilities		 - 374 381 363 355 480 407 381 3,583 8,995 9,212
Total Equity & Noncontrolling Interests		 -53 2,872 3,012 3,334 3,489 3,586 4,229 4,738 9,662 21,255 22,228
Total Preferred & Common Equity		 2,700 2,872 3,012 3,334 3,489 3,586 4,229 4,738 9,662 21,255 22,228
Preferred Stock		 - - - - 0.00 0.00 340 340 881 881 881
Total Common Equity		 -53 2,872 3,012 3,334 3,489 3,586 3,889 4,398 8,781 20,374 21,347
Common Stock		 - 671 671 671 506 55 9.82 10 4,124 4,123 2,431
Retained Earnings		 - 2,266 2,477 2,785 3,219 3,658 3,867 4,378 5,392 16,742 19,361
Accumulated Other Comprehensive Income / (Loss)		 -53 -64 -135 -122 -235 -127 12 10 -735 -491 -445

Quarterly Balance Sheets for First Citizens BancShares

This table presents First Citizens BancShares' 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
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
Total Assets		 109,310 214,658 209,502 213,765 217,836 219,827 220,567 228,822 229,653
Cash and Due from Banks		 481 1,598 917 791 698 764 862 812 889
Interest Bearing Deposits at Other Banks		 6,172 38,522 37,846 36,704 30,792 25,361 25,640 24,692 26,184
Trading Account Securities		 18,841 19,527 22,469 27,367 35,438 38,058 39,118 44,664 43,646
Loans and Leases, Net of Allowance		 68,908 136,683 131,378 131,529 133,633 137,641 137,017 139,678 139,597
Loans and Leases		 69,790 138,288 133,015 133,202 135,370 139,341 138,695 141,358 141,269
Allowance for Loan and Lease Losses		 882 1,605 1,637 1,673 1,737 1,700 1,678 1,680 1,672
Loans Held for Sale		 21 94 117 58 86 92 68 185 125
Premises and Equipment, Net		 9,394 10,074 10,313 10,429 10,717 8,945 9,186 9,371 9,466
Goodwill		 346 346 346 346 346 346 346 346 346
Intangible Assets		 145 364 347 329 295 280 265 234 221
Other Assets		 5,002 144,133 5,769 6,212 5,831 6,402 6,091 6,796 7,064
Total Liabilities & Shareholders' Equity		 109,310 214,658 209,502 213,765 217,836 219,827 220,567 228,822 229,653
Total Liabilities		 99,477 195,442 189,731 193,376 195,988 197,340 197,739 206,527 207,357
Non-Interest Bearing Deposits		 26,587 54,649 44,547 43,141 39,276 40,016 39,396 40,767 40,879
Interest Bearing Deposits		 60,966 85,401 96,617 103,092 110,333 111,063 112,178 118,558 119,056
Short-Term Debt		 3,128 1,009 454 453 395 386 391 450 471
Long-Term Debt		 5,215 45,085 39,685 37,259 37,145 37,072 36,770 37,956 37,641
Other Long-Term Liabilities		 3,581 9,298 8,428 9,431 8,839 8,803 9,004 8,796 9,310
Total Equity & Noncontrolling Interests		 9,833 19,216 19,771 20,389 21,848 22,487 22,828 22,295 22,296
Total Preferred & Common Equity		 9,833 19,216 19,771 20,389 21,848 22,487 22,828 22,295 22,296
Preferred Stock		 881 881 881 881 - 881 881 881 881
Total Common Equity		 8,952 18,335 18,890 19,508 21,848 21,606 21,947 21,414 21,415
Common Stock		 4,521 4,119 4,121 4,121 4,114 4,114 3,403 1,811 1,192
Retained Earnings		 5,160 14,885 15,541 16,267 17,435 18,102 18,703 19,802 20,337
Accumulated Other Comprehensive Income / (Loss)		 -729 -669 -772 -880 -582 -610 -159 -199 -114

Annual Metrics And Ratios for First Citizens BancShares

This table displays calculated financial ratios and metrics derived from First Citizens BancShares' official financial filings.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 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		 4.54% 32.15% -5.04% 19.68% 1.72% 7.34% 7.98% 1.77% 167.76% 269.68% -48.06%
EBITDA Growth		 3.86% 50.62% 16.50% 48.03% -4.14% 17.02% 8.45% 12.38% 124.53% 534.30% -69.03%
EBIT Growth		 -24.16% 63.27% 5.61% 54.87% -7.37% 17.56% 4.38% 13.43% 94.29% 786.71% -70.26%
NOPAT Growth		 -16.96% 51.84% 7.18% 43.58% 23.65% 14.25% 7.57% 11.18% 100.73% 944.26% -75.78%
Net Income Growth		 -16.96% 51.84% 7.18% 43.58% 23.65% 14.25% 7.57% 11.18% 100.73% 944.26% -75.78%
EPS Growth		 -21.84% 29.20% 0.00% 0.00% 0.00% 0.00% 0.00% 13.43% 25.09% 1,063.96% -75.86%
Operating Cash Flow Growth		 -44.94% 27.88% -1.09% 54.12% 27.73% 27.43% -34.98% -175.53% 1,082.75% -4.69% 12.33%
Free Cash Flow Firm Growth		 5,929.87% -225.32% 98.55% -139.61% 830.91% -108.13% -857.23% 120.16% -6,136.08% -258.42% 107.73%
Invested Capital Growth		 -88.51% 1,073.78% 6.66% 10.10% -10.56% 12.14% 24.54% 6.59% 150.03% 261.25% 0.63%
Revenue Q/Q Growth		 10.89% -1.63% -5.18% 8.64% 1.23% 1.69% 2.98% -0.76% 17.58% 6.96% -0.47%
EBITDA Q/Q Growth		 26.78% -4.06% 2.87% 8.74% -1.43% -0.14% 9.71% -3.72% 21.24% 1.20% 4.55%
EBIT Q/Q Growth		 25.59% -5.81% 4.19% 8.38% -1.41% 2.71% 7.53% -3.02% 21.28% 2.73% 0.64%
NOPAT Q/Q Growth		 35.76% -8.74% 4.61% 0.53% 9.60% 2.79% 8.01% -2.73% 13.90% 2.29% 7.18%
Net Income Q/Q Growth		 35.76% -8.74% 4.61% 0.53% 9.60% 2.79% 8.01% -2.73% 13.90% 2.29% 7.18%
EPS Q/Q Growth		 27.68% -10.84% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 7.15% 2.31% 8.51%
Operating Cash Flow Q/Q Growth		 34.91% -25.36% -10.92% 14.10% 19.03% 10.59% -4.89% -13.03% 49.73% -5.44% 7.87%
Free Cash Flow Firm Q/Q Growth		 3,735.76% -340.46% 52.81% -207.24% 23.92% -119.39% 30.03% 21.37% 19.17% -8.43% 242.39%
Invested Capital Q/Q Growth		 -89.16% -3.62% -4.41% 0.80% -2.30% 8.11% 1.64% 0.90% -10.28% 1.39% -1.18%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 22.56% 25.72% 31.55% 39.02% 36.78% 40.09% 40.27% 44.47% 37.29% 63.98% 38.14%
EBIT Margin		 19.33% 23.88% 26.56% 34.37% 31.30% 34.28% 33.14% 36.93% 26.80% 64.28% 36.81%
Profit (Net Income) Margin		 13.15% 15.11% 17.06% 20.47% 24.88% 26.48% 26.38% 28.82% 21.61% 61.03% 28.46%
Tax Burden Percent		 68.06% 63.29% 64.23% 59.55% 79.49% 77.25% 79.61% 78.03% 80.62% 94.94% 77.31%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 31.94% 36.71% 35.77% 40.45% 20.51% 22.75% 20.39% 21.97% 19.38% 5.06% 22.69%
Return on Invested Capital (ROIC)		 8.03% 9.30% 5.23% 6.93% 8.63% 9.84% 8.92% 8.65% 9.62% 30.49% 4.70%
ROIC Less NNEP Spread (ROIC-NNEP)		 8.03% 9.30% 5.23% 6.93% 8.63% 9.84% 8.92% 8.65% 9.62% 30.49% 4.70%
Return on Net Nonoperating Assets (RNNOA)		 5.69% 5.63% 2.43% 3.28% 3.11% 3.09% 3.67% 3.55% 5.63% 43.68% 8.07%
Return on Equity (ROE)		 13.73% 14.93% 7.66% 10.20% 11.73% 12.93% 12.59% 12.20% 15.25% 74.17% 12.77%
Cash Return on Invested Capital (CROIC)		 166.82% -159.30% -1.22% -2.69% 19.77% -1.60% -12.94% 2.28% -76.11% -82.79% 4.07%
Operating Return on Assets (OROA)		 1.89% 2.09% 1.09% 1.61% 1.44% 1.57% 1.38% 1.30% 1.63% 7.48% 1.64%
Return on Assets (ROA)		 1.29% 1.32% 0.70% 0.96% 1.14% 1.22% 1.10% 1.01% 1.31% 7.10% 1.27%
Return on Common Equity (ROCE)		 13.73% 14.93% 7.66% 10.20% 11.73% 12.93% 12.04% 11.27% 13.96% 69.95% 12.26%
Return on Equity Simple (ROE_SIMPLE)		 5.13% 7.33% 7.49% 9.71% 11.47% 12.75% 11.63% 11.55% 11.36% 53.95% 12.49%
Net Operating Profit after Tax (NOPAT)		 139 210 225 324 400 457 492 547 1,098 11,466 2,777
NOPAT Margin		 13.15% 15.11% 17.06% 20.47% 24.88% 26.48% 26.38% 28.82% 21.61% 61.03% 28.46%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 48.91% 44.58% 48.33% 43.80% 45.98% 44.85% 51.74% 52.95% 40.48% 19.30% 42.21%
Operating Expenses to Revenue		 80.61% 74.64% 70.95% 64.01% 66.93% 63.90% 63.75% 65.02% 60.51% 28.40% 58.77%
Earnings before Interest and Taxes (EBIT)		 204 332 351 544 504 592 618 701 1,362 12,077 3,592
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 238 358 417 617 592 692 751 844 1,895 12,020 3,722
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 1.05 1.38 1.42 1.25 1.57 1.43 1.84 1.24 1.01 1.38
Price to Tangible Book Value (P/TBV)		 0.00 1.14 1.49 1.52 1.38 1.78 1.60 2.00 1.32 1.04 1.42
Price to Revenue (P/Rev)		 2.23 2.16 3.15 3.00 2.72 3.26 2.99 4.26 2.15 1.09 3.03
Price to Earnings (P/E)		 16.96 14.31 18.45 14.63 10.93 12.31 11.67 15.27 10.42 1.80 10.88
Dividend Yield		 0.49% 0.48% 0.35% 0.32% 0.39% 0.31% 0.29% 0.29% 0.29% 0.28% 0.33%
Earnings Yield		 5.90% 6.99% 5.42% 6.83% 9.15% 8.12% 8.57% 6.55% 9.59% 55.57% 9.19%
Enterprise Value to Invested Capital (EV/IC)		 6.61 0.91 1.14 1.22 1.13 1.34 1.22 0.12 0.79 0.42 0.76
Enterprise Value to Revenue (EV/Rev)		 2.23 2.71 3.83 3.77 3.07 3.81 3.99 0.40 2.54 1.31 4.64
Enterprise Value to EBITDA (EV/EBITDA)		 9.89 10.55 12.12 9.66 8.35 9.51 9.92 0.89 6.81 2.04 12.17
Enterprise Value to EBIT (EV/EBIT)		 11.54 11.36 14.40 10.97 9.81 11.12 12.05 1.07 9.48 2.03 12.62
Enterprise Value to NOPAT (EV/NOPAT)		 16.96 17.95 22.42 18.43 12.34 14.39 15.14 1.37 11.75 2.14 16.32
Enterprise Value to Operating Cash Flow (EV/OCF)		 12.90 16.20 21.93 16.79 10.88 11.38 19.80 0.00 4.62 9.23 15.17
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.82 0.00 0.00 0.00 5.38 0.00 0.00 5.22 0.00 0.00 18.83
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.45 0.48 0.47 0.26 0.37 0.45 0.38 0.69 1.77 1.67
Long-Term Debt to Equity		 0.00 0.25 0.28 0.26 0.10 0.25 0.27 0.25 0.46 1.75 1.65
Financial Leverage		 0.71 0.61 0.46 0.47 0.36 0.31 0.41 0.41 0.59 1.43 1.72
Leverage Ratio		 10.68 11.29 10.96 10.64 10.25 10.63 11.49 12.07 11.64 10.45 10.06
Compound Leverage Factor		 10.68 11.29 10.96 10.64 10.25 10.63 11.49 12.07 11.64 10.45 10.06
Debt to Total Capital		 0.00% 31.14% 32.29% 31.93% 20.36% 27.01% 30.88% 27.35% 40.75% 63.92% 62.50%
Short-Term Debt to Total Capital		 0.00% 14.26% 13.57% 14.16% 12.73% 9.02% 11.93% 9.03% 13.41% 0.82% 0.62%
Long-Term Debt to Total Capital		 0.00% 16.88% 18.72% 17.77% 7.63% 17.99% 18.95% 18.32% 27.34% 63.10% 61.88%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 5.56% 5.21% 5.40% 1.50% 1.49%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 100.00% 68.86% 67.71% 68.07% 79.64% 72.99% 63.56% 67.43% 53.85% 34.59% 36.01%
Debt to EBITDA		 0.00 3.63 3.44 2.53 1.51 1.92 2.52 2.11 3.51 3.13 9.95
Net Debt to EBITDA		 0.00 2.14 2.15 1.99 0.95 1.37 2.03 -9.09 0.58 0.26 4.00
Long-Term Debt to EBITDA		 0.00 1.97 2.00 1.41 0.56 1.28 1.54 1.42 2.35 3.09 9.86
Debt to NOPAT		 0.00 6.17 6.37 4.83 2.23 2.90 3.84 3.26 6.05 3.28 13.34
Net Debt to NOPAT		 0.00 3.64 3.98 3.79 1.41 2.08 3.10 -14.02 1.00 0.27 5.36
Long-Term Debt to NOPAT		 0.00 3.35 3.69 2.69 0.84 1.93 2.36 2.18 4.06 3.24 13.21
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 4.35% 7.58% 8.48% 5.70% 4.05%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 2,877 -3,605 -52 -126 917 -75 -714 144 -8,687 -31,136 2,407
Operating Cash Flow to CapEx		 220.34% 259.72% 281.65% 434.64% 327.10% 478.11% 284.85% -267.92% 305.70% 186.27% 232.53%
Free Cash Flow to Firm to Interest Expense		 57.14 -81.38 -1.22 -2.87 24.89 -0.81 -7.44 2.36 -18.60 -8.46 0.46
Operating Cash Flow to Interest Expense		 3.62 5.26 5.35 8.11 12.31 6.24 3.92 -4.66 5.98 0.72 0.57
Operating Cash Flow Less CapEx to Interest Expense		 1.98 3.24 3.45 6.25 8.55 4.94 2.54 -6.39 4.02 0.33 0.33
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.10 0.09 0.04 0.05 0.05 0.05 0.04 0.04 0.06 0.12 0.04
Fixed Asset Turnover		 0.00 0.00 1.17 1.39 1.37 1.41 1.49 0.00 0.00 2.05 1.08
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 355 4,171 4,449 4,898 4,381 4,913 6,119 6,522 16,307 58,909 59,279
Invested Capital Turnover		 0.61 0.62 0.31 0.34 0.35 0.37 0.34 0.30 0.45 0.50 0.17
Increase / (Decrease) in Invested Capital		 -2,738 3,816 278 449 -517 532 1,206 403 9,785 42,602 370
Enterprise Value (EV)		 2,350 3,776 5,056 5,966 4,939 6,583 7,446 751 12,906 24,546 45,314
Market Capitalization		 2,350 3,012 4,159 4,738 4,374 5,632 5,579 8,080 10,923 20,528 29,560
Book Value per Share		 ($5.51) $239.14 $250.82 $277.60 $295.41 $333.97 $396.21 $448.03 $605.43 $1,403.16 $1,525.93
Tangible Book Value per Share		 ($20.04) $219.92 $231.78 $258.97 $269.28 $295.08 $355.35 $410.84 $571.92 $1,357.84 $1,483.40
Total Capital		 -53 4,171 4,449 4,898 4,381 4,913 6,119 6,522 16,307 58,909 59,279
Total Debt		 0.00 1,299 1,436 1,564 892 1,327 1,890 1,784 6,645 37,654 37,051
Total Long-Term Debt		 0.00 704 833 870 334 884 1,160 1,195 4,459 37,169 36,684
Net Debt		 0.00 765 897 1,228 565 950 1,528 -7,669 1,102 3,137 14,873
Capital Expenditures (CapEx)		 83 90 82 82 139 121 132 106 913 1,428 1,285
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 408 1,299 1,436 1,564 892 1,327 1,890 1,784 6,645 37,654 37,051
Total Depreciation and Amortization (D&A)		 34 26 66 74 88 100 133 143 533 -57 130
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $13.56 $17.52 $18.77 $26.96 $33.53 $41.05 $47.50 $53.88 $67.47 $785.14 $189.42
Adjusted Weighted Average Basic Shares Outstanding		 10.22M 12.01M 12.01M 12.01M 11.94M 11.14M 10.06M 9.82M 15.53M 14.53M 14.34M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.00 $26.96 $0.00 $41.05 $0.00 $0.00 $67.40 $784.51 $189.41
Adjusted Weighted Average Diluted Shares Outstanding		 12.01M 12.01M 12.01M 12.01M 11.53M 10.51M 9.82M 15.98M 15.55M 14.54M 14.34M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $26.96 $0.00 $41.05 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 12.01M 12.01M 12.01M 12.01M 11.53M 10.51M 9.82M 15.98M 14.51M 14.52M 13.58M
Normalized Net Operating Profit after Tax (NOPAT)		 147 219 229 329 405 471 506 570 1,284 11,912 2,939
Normalized NOPAT Margin		 14.00% 15.76% 17.32% 20.81% 25.20% 27.25% 27.11% 30.01% 25.27% 63.41% 30.12%
Pre Tax Income Margin		 19.33% 23.88% 26.56% 34.37% 31.30% 34.28% 33.14% 36.93% 26.80% 64.28% 36.81%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 4.04 7.50 8.15 12.41 13.66 6.39 6.44 11.49 2.92 3.28 0.69
NOPAT to Interest Expense		 2.75 4.75 5.23 7.39 10.86 4.94 5.13 8.97 2.35 3.12 0.53
EBIT Less CapEx to Interest Expense		 2.40 5.48 6.25 10.55 9.90 5.09 5.06 9.75 0.96 2.89 0.44
NOPAT Less CapEx to Interest Expense		 1.11 2.72 3.33 5.53 7.10 3.63 3.75 7.23 0.40 2.73 0.29
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 8.33% 8.56% 6.39% 4.45% 4.19% 3.97% 6.10% 7.68% 7.56% 1.02% 5.69%
Augmented Payout Ratio		 8.33% 8.56% 6.39% 4.45% 44.93% 103.04% 73.98% 7.68% 120.49% 1.02% 65.03%

Quarterly Metrics And Ratios for First Citizens BancShares

This table displays calculated financial ratios and metrics derived from First Citizens BancShares' official financial filings.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 161.36% 641.09% 133.01% 112.13% 99.35% -78.00% -6.07% -6.10% -1.87% -5.97% -3.54%
EBITDA Growth		 171.13% 2,730.38% 77.37% 64.52% 27.00% -89.66% 14.27% 2.23% 24.25% -25.00% -12.89%
EBIT Growth		 156.21% 4,109.33% 165.88% 144.36% 81.89% -89.40% 9.26% -12.44% 3.23% -35.16% -22.57%
NOPAT Growth		 108.94% 3,412.18% 167.45% 138.73% 100.00% -92.32% 3.67% -15.03% 36.19% -33.93% -18.67%
Net Income Growth		 108.94% 3,412.18% 167.45% 138.73% 100.00% -92.32% 3.67% -15.03% 36.19% -33.93% -18.67%
EPS Growth		 37.22% 3,814.01% 208.68% 163.22% 106.93% -92.46% 3.64% -14.31% 43.29% -30.02% -10.90%
Operating Cash Flow Growth		 729.92% -162.74% 40.06% 138.14% -14.52% 227.35% -54.48% -17.76% 24.20% -78.74% 106.00%
Free Cash Flow Firm Growth		 -3,301.86% -469.81% -422.06% -243.72% -341.73% 115.87% 101.52% 96.81% 100.78% -112.48% -83.33%
Invested Capital Growth		 150.03% 371.14% 296.73% 219.66% 261.25% -9.07% 0.06% 3.25% 0.63% 2.21% 0.77%
Revenue Q/Q Growth		 0.24% 802.44% -76.42% -0.53% -5.80% -0.41% 0.65% -0.57% -1.55% -4.57% 3.26%
EBITDA Q/Q Growth		 -3.31% 1,724.14% -91.02% 3.83% -25.36% 48.50% -0.71% -7.11% -9.29% -10.36% 15.32%
EBIT Q/Q Growth		 -3.92% 2,316.07% -90.54% 11.27% -28.49% 40.81% -2.49% -10.83% -15.69% -11.55% 16.44%
NOPAT Q/Q Growth		 -18.41% 3,603.50% -92.83% 10.26% -31.65% 42.22% -3.28% -9.62% 9.55% -31.00% 19.05%
Net Income Q/Q Growth		 -18.41% 3,603.50% -92.83% 10.26% -31.65% 42.22% -3.28% -9.62% 9.55% -31.00% 19.05%
EPS Q/Q Growth		 -13.82% 3,839.96% -92.98% 10.46% -32.25% 43.49% -3.49% -8.67% 13.29% -29.92% 22.89%
Operating Cash Flow Q/Q Growth		 108.30% -134.35% 353.04% 31.55% -25.23% -48.83% -9.54% 137.65% 12.92% -91.24% 776.53%
Free Cash Flow Firm Q/Q Growth		 16.40% -340.07% -5.24% 11.23% -7.44% 115.81% -89.90% -285.86% 126.42% -351.52% 113.49%
Invested Capital Q/Q Growth		 -10.28% 300.50% -8.27% -3.02% 1.39% 0.81% 0.94% 0.07% -1.18% 2.40% -0.48%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 42.73% 86.37% 32.91% 34.36% 27.22% 40.59% 40.04% 37.41% 34.47% 32.38% 36.16%
EBIT Margin		 31.84% 85.26% 34.21% 38.27% 29.05% 41.08% 39.80% 35.69% 30.56% 28.33% 31.94%
Profit (Net Income) Margin		 20.88% 85.68% 26.04% 28.87% 20.95% 29.91% 28.74% 26.12% 29.07% 21.02% 24.23%
Tax Burden Percent		 65.56% 100.50% 76.12% 75.43% 72.09% 72.81% 72.22% 73.20% 95.11% 74.19% 75.86%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 34.44% -0.50% 23.88% 24.57% 27.91% 27.19% 27.78% 26.80% 4.89% 25.81% 24.14%
Return on Invested Capital (ROIC)		 9.30% 31.80% 11.24% 13.29% 10.46% 4.86% 4.78% 4.34% 4.80% 3.36% 3.84%
ROIC Less NNEP Spread (ROIC-NNEP)		 9.30% 31.80% 11.24% 13.29% 10.46% 4.86% 4.78% 4.34% 4.80% 3.36% 3.84%
Return on Net Nonoperating Assets (RNNOA)		 5.44% 52.72% 16.48% 20.26% 14.99% 9.89% 8.77% 7.52% 8.25% 5.79% 6.47%
Return on Equity (ROE)		 14.74% 84.52% 27.72% 33.55% 25.46% 14.75% 13.55% 11.85% 13.05% 9.15% 10.31%
Cash Return on Invested Capital (CROIC)		 -76.11% -103.83% -90.75% -75.29% -82.79% 13.79% 4.45% 1.19% 4.07% 2.03% 3.21%
Operating Return on Assets (OROA)		 1.93% 7.75% 3.49% 4.16% 3.38% 1.92% 1.85% 1.61% 1.36% 1.22% 1.35%
Return on Assets (ROA)		 1.27% 7.79% 2.66% 3.14% 2.44% 1.40% 1.33% 1.18% 1.30% 0.90% 1.03%
Return on Common Equity (ROCE)		 13.49% 79.52% 26.11% 31.60% 24.00% 14.43% 12.99% 11.37% 12.52% 8.97% 9.90%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 53.84% 54.48% 54.98% 0.00% 12.26% 12.02% 11.35% 0.00% 11.34% 10.75%
Net Operating Profit after Tax (NOPAT)		 257 9,518 682 752 514 731 707 639 700 483 575
NOPAT Margin		 20.88% 85.68% 26.04% 28.87% 20.95% 29.91% 28.74% 26.12% 29.07% 21.02% 24.23%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 42.65% 5.39% 40.82% 37.70% 39.77% 40.06% 40.94% 43.21% 44.68% 47.95% 45.89%
Operating Expenses to Revenue		 61.74% 7.70% 60.02% 54.36% 60.80% 56.30% 56.34% 59.53% 63.00% 64.97% 63.21%
Earnings before Interest and Taxes (EBIT)		 392 9,471 896 997 713 1,004 979 873 736 651 758
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 526 9,595 862 895 668 992 985 915 830 744 858
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.24 0.77 0.98 1.02 1.01 1.09 1.13 1.21 1.38 1.18 1.21
Price to Tangible Book Value (P/TBV)		 1.32 0.80 1.02 1.06 1.04 1.12 1.17 1.25 1.42 1.21 1.25
Price to Revenue (P/Rev)		 2.15 0.96 1.15 1.14 1.09 2.34 2.46 2.72 3.03 2.62 2.73
Price to Earnings (P/E)		 10.42 1.37 1.73 1.79 1.80 9.06 9.26 10.53 10.88 10.20 11.12
Dividend Yield		 0.29% 0.25% 0.21% 0.22% 0.28% 0.29% 0.34% 0.36% 0.33% 0.39% 0.38%
Earnings Yield		 9.59% 73.18% 57.72% 55.87% 55.57% 11.04% 10.80% 9.50% 9.19% 9.80% 8.99%
Enterprise Value to Invested Capital (EV/IC)		 0.79 0.32 0.35 0.36 0.42 0.50 0.61 0.64 0.76 0.64 0.63
Enterprise Value to Revenue (EV/Rev)		 2.54 1.42 1.29 1.20 1.31 2.94 3.68 3.89 4.64 4.05 3.98
Enterprise Value to EBITDA (EV/EBITDA)		 6.81 1.88 1.81 1.77 2.04 8.71 10.36 10.72 12.17 11.21 11.33
Enterprise Value to EBIT (EV/EBIT)		 9.48 1.97 1.86 1.79 2.03 8.25 9.93 10.70 12.62 12.03 12.56
Enterprise Value to NOPAT (EV/NOPAT)		 11.75 2.02 1.93 1.88 2.14 11.11 13.56 14.73 16.32 15.40 15.82
Enterprise Value to Operating Cash Flow (EV/OCF)		 4.62 11.29 9.85 7.49 9.23 8.55 12.29 13.78 15.17 14.84 12.36
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 3.46 13.74 54.30 18.83 32.04 19.61
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.69 2.40 2.03 1.85 1.77 1.72 1.67 1.63 1.67 1.72 1.71
Long-Term Debt to Equity		 0.46 2.35 2.01 1.83 1.75 1.70 1.65 1.61 1.65 1.70 1.69
Financial Leverage		 0.59 1.66 1.47 1.52 1.43 2.04 1.84 1.73 1.72 1.72 1.69
Leverage Ratio		 11.64 10.85 10.43 10.69 10.45 10.53 10.16 10.05 10.06 10.12 10.04
Compound Leverage Factor		 11.64 10.85 10.43 10.69 10.45 10.53 10.16 10.05 10.06 10.12 10.04
Debt to Total Capital		 40.75% 70.58% 67.00% 64.91% 63.92% 63.21% 62.49% 61.95% 62.50% 63.27% 63.09%
Short-Term Debt to Total Capital		 13.41% 1.54% 0.76% 0.78% 0.82% 0.67% 0.64% 0.65% 0.62% 0.74% 0.78%
Long-Term Debt to Total Capital		 27.34% 69.03% 66.24% 64.13% 63.10% 62.55% 61.84% 61.29% 61.88% 62.53% 62.31%
Preferred Equity to Total Capital		 5.40% 1.35% 1.47% 1.52% 1.50% 0.00% 1.47% 1.47% 1.49% 1.45% 1.46%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 53.85% 28.07% 31.53% 33.58% 34.59% 36.79% 36.04% 36.59% 36.01% 35.28% 35.45%
Debt to EBITDA		 3.51 4.13 3.48 3.17 3.13 10.99 10.58 10.44 9.95 11.06 11.39
Net Debt to EBITDA		 0.58 0.54 0.12 0.02 0.26 1.77 3.20 2.99 4.00 3.71 3.30
Long-Term Debt to EBITDA		 2.35 4.04 3.44 3.14 3.09 10.87 10.47 10.33 9.86 10.93 11.25
Debt to NOPAT		 6.05 4.46 3.73 3.36 3.28 14.01 13.85 14.34 13.34 15.19 15.90
Net Debt to NOPAT		 1.00 0.58 0.13 0.02 0.27 2.26 4.19 4.11 5.36 5.10 4.61
Long-Term Debt to NOPAT		 4.06 4.36 3.68 3.32 3.24 13.87 13.71 14.19 13.21 15.01 15.70
Noncontrolling Interest Sharing Ratio		 8.48% 5.92% 5.79% 5.83% 5.70% 2.15% 4.17% 4.08% 4.05% 2.00% 3.93%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -9,528 -41,930 -44,127 -39,173 -42,088 6,653 672 -1,249 330 -830 112
Operating Cash Flow to CapEx		 276.64% -121.07% 270.21% 614.80% 151.68% 210.50% 138.54% 233.18% 329.12% 46.67% 306.79%
Free Cash Flow to Firm to Interest Expense		 -40.03 -116.15 -44.48 -34.98 -34.90 5.25 0.51 -0.93 0.26 -0.67 0.09
Operating Cash Flow to Interest Expense		 4.43 -1.00 0.92 1.08 0.75 0.36 0.32 0.74 0.87 0.08 0.69
Operating Cash Flow Less CapEx to Interest Expense		 2.83 -1.83 0.58 0.90 0.25 0.19 0.09 0.42 0.60 -0.09 0.46
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.06 0.09 0.10 0.11 0.12 0.05 0.05 0.05 0.04 0.04 0.04
Fixed Asset Turnover		 0.00 1.51 1.64 1.77 2.05 0.97 1.03 1.00 1.08 0.96 1.03
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 16,307 65,310 59,910 58,101 58,909 59,388 59,945 59,989 59,279 60,701 60,408
Invested Capital Turnover		 0.45 0.37 0.43 0.46 0.50 0.16 0.17 0.17 0.17 0.16 0.16
Increase / (Decrease) in Invested Capital		 9,785 51,448 44,809 39,925 42,602 -5,922 35 1,888 370 1,313 463
Enterprise Value (EV)		 12,906 20,913 20,824 21,058 24,546 29,768 36,676 38,171 45,314 38,957 37,919
Market Capitalization		 10,923 14,058 18,567 19,960 20,528 23,718 24,462 26,631 29,560 25,174 25,999
Book Value per Share		 $605.43 $1,263.79 $1,300.96 $1,343.52 $1,403.16 $1,503.31 $1,487.02 $1,517.15 $1,525.93 $1,577.20 $1,611.50
Tangible Book Value per Share		 $571.92 $1,214.85 $1,253.24 $1,297.04 $1,357.84 $1,459.20 $1,443.94 $1,474.91 $1,483.40 $1,534.48 $1,568.83
Total Capital		 16,307 65,310 59,910 58,101 58,909 59,388 59,945 59,989 59,279 60,701 60,408
Total Debt		 6,645 46,094 40,139 37,712 37,654 37,540 37,458 37,161 37,051 38,406 38,112
Total Long-Term Debt		 4,459 45,085 39,685 37,259 37,169 37,145 37,072 36,770 36,684 37,956 37,641
Net Debt		 1,102 5,974 1,376 217 3,137 6,050 11,333 10,659 14,873 12,902 11,039
Capital Expenditures (CapEx)		 381 299 339 196 594 219 301 425 340 210 280
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 6,645 46,094 40,139 37,712 37,654 37,540 37,458 37,161 37,051 38,406 38,112
Total Depreciation and Amortization (D&A)		 134 124 -34 -102 -45 -12 6.00 42 94 93 100
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $16.63 $654.22 $45.90 $50.71 $34.31 $49.27 $47.54 $43.42 $49.19 $34.47 $42.36
Adjusted Weighted Average Basic Shares Outstanding		 15.53M 14.53M 14.53M 14.53M 14.53M 14.53M 14.53M 14.38M 14.34M 13.58M 13.24M
Adjusted Diluted Earnings per Share		 $16.59 $653.64 $45.87 $50.67 $34.33 $49.26 $47.54 $43.42 $49.19 $34.47 $42.36
Adjusted Weighted Average Diluted Shares Outstanding		 15.55M 14.54M 14.54M 14.54M 14.54M 14.54M 14.53M 14.38M 14.34M 13.58M 13.24M
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		 14.51M 14.52M 14.52M 14.52M 14.52M 14.53M 14.47M 13.99M 13.58M 13.29M 12.92M
Normalized Net Operating Profit after Tax (NOPAT)		 276 6,649 838 843 598 773 739 673 759 514 604
Normalized NOPAT Margin		 22.42% 59.86% 32.00% 32.37% 24.35% 31.64% 30.03% 27.50% 31.52% 22.37% 25.45%
Pre Tax Income Margin		 31.84% 85.26% 34.21% 38.27% 29.05% 41.08% 39.80% 35.69% 30.56% 28.33% 31.94%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 1.65 26.24 0.90 0.89 0.59 0.79 0.75 0.65 0.57 0.53 0.61
NOPAT to Interest Expense		 1.08 26.37 0.69 0.67 0.43 0.58 0.54 0.48 0.54 0.39 0.46
EBIT Less CapEx to Interest Expense		 0.05 25.41 0.56 0.72 0.10 0.62 0.52 0.33 0.31 0.36 0.38
NOPAT Less CapEx to Interest Expense		 -0.52 25.54 0.35 0.50 -0.07 0.40 0.31 0.16 0.28 0.22 0.24
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 7.56% 0.92% 0.90% 0.92% 1.02% 4.85% 5.29% 5.98% 5.69% 6.37% 6.76%
Augmented Payout Ratio		 120.49% 0.92% 0.90% 4.92% 1.02% 4.85% 5.29% 33.00% 65.03% 95.97% 126.87%

Key Financial Trends

First Citizens BancShares (NASDAQ: FCNCP) Q2 2025 Financial Highlights and Recent Trends:

Examining the latest quarterly results and recent years' trends reveals several key aspects about First Citizens BancShares' financial health, profitability, and operational efficiency.

  • Strong earnings growth: Consolidated net income increased to $575 million in Q2 2025 from $483 million in Q1 2025, reflecting improving profitability quarter-over-quarter.
  • Net interest income improvement: Net interest income rose to $1.695 billion in Q2 2025, up from $1.663 billion in Q1 2025, driven by stable interest income on loans and investment securities.
  • Healthy operating cash flow: Net cash provided by operating activities grew significantly to $859 million in Q2 2025 compared to $98 million in Q1 2025, indicating strong cash generation from core business operations.
  • Loan growth with prudent risk management: Gross loans and leases increased to $141.3 billion in Q2 2025 from $141.4 billion in Q1 2025, with allowance for loan losses steady around $1.67 billion, suggesting ongoing risk monitoring and provisioning.
  • Sustained revenue diversification: Non-interest income totaled $678 million in Q2 2025, up from $635 million in Q1 2025, supported by other service charges and gains on investments.
  • Capital position steady: Total equity remained stable at about $22.3 billion in Q2 2025, sustaining a strong capital base to support future growth and absorb potential losses.
  • Modest increase in expenses: Non-interest expenses hovered near $1.5 billion range, consistent with prior quarters, including marketing, salaries, and restructuring charges, requiring ongoing expense management focus.
  • Significant investment securities purchases: The bank increased purchases of investment securities to $1.166 billion in Q2 2025 versus a much higher $3.554 billion in Q1 2025 into a more leveraged securities portfolio, which could impact liquidity and interest rate risk.
  • Reduction in cash and equivalents: Total cash and due from banks rose slightly but remain volatile quarter to quarter, reflecting swings in operating activities and short-term investments.
  • Repurchase activity and dividends affect financing cash flow: $613 million in share repurchases and $40 million in dividends were paid in Q2 2025, reducing net cash from financing activities, indicating capital return to shareholders but balancing funding needs.

Longer-Term Observations (Last Four Years):

  • Net income has generally trended upward from 2022 to 2025, showing growth from $257 million in Q4 2022 to $575 million in Q2 2025.
  • Net interest income improved steadily, with corresponding management of interest expense on deposits and debt.
  • Provision for credit losses has fluctuated, with higher balances during late 2022 and 2023, reflecting macroeconomic uncertainties but showing some moderation into 2024 and 2025.
  • Loan portfolio size increased from approximately $133 billion in early 2023 to over $141 billion in mid-2025, highlighting growth but also the need for vigilance on credit quality.
  • Capital levels (total equity) have remained robust around $20-$22 billion, supporting balance sheet expansion while maintaining regulatory compliance.
  • Interest expense on long-term debt and deposits have risen with higher interest rates, putting some pressure on net interest margins.
  • Cash flow from investing shows ongoing significant purchases and sales of investment securities, reflecting active liquidity and asset management strategies.
  • Restructuring charges and other operating expenses remain material, impacting overall cost efficiency and requiring management focus.
  • Earnings per share increased consistently from $16.63 in Q1 2022 to $42.36 in Q2 2025, indicating strong profit growth relative to share count.
  • Deposit growth has been steady but variable quarter-to-quarter, with overall increasing trends in both interest-bearing and non-interest-bearing deposits supporting funding.

Summary: First Citizens BancShares shows a solid upward trajectory in earnings and core operating performance, supported by loan growth and diversified income sources. However, the bank faces challenges with rising interest expenses, investment securities management, and ongoing operational costs. The solid capital position and cash flow profile provide a foundation for continued growth, but investors should watch credit loss provisions and expense control closely as interest rate environments evolve.

08/12/25 12:47 PMAI Generated. May Contain Errors.

Frequently Asked Questions About First Citizens BancShares' Financials

When does First Citizens BancShares' financial year end?

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

How has First Citizens BancShares' net income changed over the last 10 years?

First Citizens BancShares' net income appears to be on an upward trend, with a most recent value of $2.78 billion in 2024, rising from $138.56 million in 2014. The previous period was $11.47 billion in 2023.

How has First Citizens BancShares' revenue changed over the last 10 years?

Over the last 10 years, First Citizens BancShares' total revenue changed from $1.05 billion in 2014 to $9.76 billion in 2024, a change of 826.4%.

How much debt does First Citizens BancShares have?

First Citizens BancShares' total liabilities were at $201.49 billion at the end of 2024, a 4.7% increase from 2023, and a 20,149,200,000,000.0% increase since 2014.

How much cash does First Citizens BancShares have?

In the past 10 years, First Citizens BancShares' cash and equivalents has ranged from $0.00 in 2014 to $908 million in 2023, and is currently $814 million as of their latest financial filing in 2024.

How has First Citizens BancShares' book value per share changed over the last 10 years?

Over the last 10 years, First Citizens BancShares' book value per share changed from -5.51 in 2014 to 1,525.93 in 2024, a change of -27,803.9%.


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This page (NASDAQ:FCNCP) was last updated on 8/12/2025 by MarketBeat.com Staff
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