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Earnings transcript
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FBP
First BanCorp.
$21.74
0.16
(0.74%)
| Exchange: | NYSE |
| Market Cap: | 3.404B |
| Shares Outstanding: | 5.706M |
About The Company
| Sector: | Financial Services | |||||
| Industry: | Banks – Regional | |||||
| CEO: | Aurelio Aleman-Bermudez | |||||
| Full Time Employees: | 3113 | |||||
| Address: |
| |||||
| Website: | https://www.1firstbank.com |
First BanCorp. operates as a bank holding company for FirstBank Puerto Rico that provides various financial services for retail, commercial, and institutional clients. The company operates through six segments: Commercial and Corporate Banking, Mortgage Banking, Consumer (Retail) Banking, Treasury and Investments, United States Operations, and Virgin Islands Operations. The Commercial and Corporate Banking segment offers commercial loans, including commercial real estate and construction loans and floor plan financings; and other products, such as cash management and business management services. The Mortgage Banking segment engages in the origination, sale, and servicing of various residential mortgage loans; acquisition and sale of mortgages in the secondary markets; and purchase of mortgage loans from other local banks and mortgage bankers. The Consumer (Retail) Banking segment provides auto, boat, credit card, and personal loans; lines of credit; deposit products comprising interest bearing and non-interest bearing checking and savings accounts, individual retirement accounts, and retail certificates of deposit (CDs); and finance leasing and insurance agency services. The Treasury and Investments segment offers funding and liquidity management services. The United States Operations segment provides checking, savings, and money market accounts, as well as retail CDs; traditional commercial and industrial, and commercial real estate loans; and internet banking, cash management, remote deposit capture, and automated clearing house, and transactions services. The Virgin Islands Operations segment is involved in consumer, commercial lending, and deposit-taking activities. The company operates 64 branches in Puerto Rico, 8 branches in the U.S. Virgin Islands and British Virgin Islands, and 11 branches in the state of Florida. First BanCorp. was founded in 1948 and is headquartered in San Juan, Puerto Rico.
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Revenue Segmentation
EPS
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 1,123,544 | 1,192,758 | 1,256,559 |
| Gross Profit | 830,159 | 843,718 | 916,382 |
| EBITDA | 425,672 | 416,203 | 416,734 |
| Operating Income | 397,436 | 391,207 | 416,734 |
| Net Income | 302,864 | 298,724 | 344,866 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 18,909,549 | 19,292,921 | 19,132,892 |
| Total Liabilities | 17,411,940 | 17,623,685 | 17,166,026.999 |
| Total Stockholders Equity | 1,497,609 | 1,669,236 | 1,966,865 |
| Total Debt | 661,700 | 561,700 | 290,000 |
| Cash and Cash Equivalents | 662,225 | 1,158,715 | 0 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 362,963 | 404,150 | 445,066 |
| Capital Expenditure | -22,599 | -10,008 | -11,032 |
| Free Cash Flow | 340,364 | 394,142 | 434,034 |
| Net Income | 302,864 | 298,724 | 344,866 |
| Net Change in Cash | 182,659 | 496,251 | 0 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2028 | Full Access | Full Access | Full Access | Full Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 1,128,555 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (High) | 1,135,431 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (Avg) | 1,131,993 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Low) | 471,184.934 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (High) | 474,055.745 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Avg) | 472,620.340 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Low) | 422,537.826 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (High) | 431,183.977 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Avg) | 426,860.902 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Low) | 272,022.919 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (High) | 273,680.286 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Avg) | 272,851.603 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Avg) | 2.650 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (High) | 2.680 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Low) | 2.630 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated Revenue) | 1 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated EPS) | 1 | Full Access | Full Access | Full Access | Full Access |
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Current Key Metrics
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Login — it's freeForward P/E Ratios
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Login — it's freeSWOT Analysis
Strengths (preview)
- Robust Financial Performance: First BanCorp reported a strong net income in the 2Q 2025 earnings call, reflecting solid revenue growth and operational efficiency. Key metrics such as return on equity (ROE TTM) and net profit margin (TTM) indicate a healthy financial position relative to industry benchmarks.
- Positive Earnings Outlook: The 2Q 2025 earnings call summary highlights exceeding analyst expectations in several key areas, including earnings per share (EPS) and operating income, signaling strong management execution and operational resilience.
- Stable Dividend Yield: The dividend yield (TTM) and consistent dividend payments (lastDiv) provide an attractive return to shareholders, enhancing investor confidence and positioning FBP as a reliable income stock within the sector.
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At what price to buy it? -
Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MARKETSnap estimates FBP intrinsic value between $24.87 – $35.03 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
Common questions about FBP valuation
Is First BanCorp. (FBP) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for First BanCorp. (FBP) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is FBP a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether FBP trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is FBP’s P/E ratio?
You can see FBP’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for FBP?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is FBP a good long-term investment?
Whether FBP fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
FBP
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Daily snapshot
0.74
Trading Metrics:
| Open: | 21.31 | Previous Close: | 21.58 | |
| Day Low: | 21.17 | Day High: | 21.75 | |
| Year Low: | 16.4 | Year High: | 23.43 | |
| Price Avg 50: | 21.6 | Price Avg 200: | 21.21 | |
| Volume: | 660724 | Average Volume: | 1.473M |
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Login — it's freeFBP full analysis
Welcome to MARKETSNAP’s SWOT analysis for First BanCorp, a regional banking player that might not be on everyone’s radar but definitely deserves a closer look. If you’re a long-term investor hunting for opportunities in the financial sector, stick around because we’re diving deep into what makes this company tick, from its solid financials to the challenges it faces in a competitive landscape. Let’s break it down with a comprehensive overview, some recent updates, and a full SWOT analysis to help…
