First Citizens BancShares, Inc.

FCNCA Financial Banks Regional

First Citizens BancShares, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $14.5 billion, down 3.09% from fiscal 2024. In the quarter to June 2026, revenue was flat, EPS grew 31.1%, free cash flow grew 28.7% and total debt fell 14.9%, each against the same quarter a year earlier. Dividend growth for twenty-five consecutive years; insiders bought in the last twelve months.

2,123.74 26.54 +1.27%
Market cap
$23.3B
P/E
11.4×
Fwd P/E
11.8×
Dividend yield
0.40%
F-score
6/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a

Insider Decisions trades per month

Total buys 13.61
Total sells 15.55
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy 2 — — — 3 — 1 4 — 1 — —
Sell — — — — — — 1 1 — — 1 —
Insider Ownership 38.11%

Capital & Financial Ratios $m

Market Cap 23,260.00
Revenue 14,457.00
Net Income 2,354.00
Free Cash Flow 2,502.00
Net Debt 8,648.00
Current Ratio 1.00
Debt/Equity 1.46
P/E ratio 11.35
Fwd P/E 11.80
P/S ratio 1.69
P/B ratio 1.22
Past 5Y EPS Growth 28.32% (at or above 15%: strong)
This Y EPS Growth 10.00%
Next Y EPS Growth 3.40%
Next Y revenue growth (38.81%) (below 0%: weak)
Next 5Y EPS Growth 7.34%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 31.33%
10-year low 10-year high
P/S against its own 10 years 19.13%
10-year low 10-year high
P/B against its own 10 years 38.30%
10-year low 10-year high

Dividends

Payout Ratio 0.04
Annual Dividend Rate 8.40
Annual Dividend Yield 0.40%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 8.47
2.10
2.10
2.10
2025 7.95
1.95
1.95
1.95
2.10
2024 6.87
1.64
1.64
1.64
1.95
2023 3.89
0.75
0.75
0.75
1.64
2022 2.16
0.47
0.47
0.47
0.75
2021 1.88
0.47
0.47
0.47
0.47
2020 1.67
0.40
0.40
0.40
0.47
2019 1.60
0.40
0.40
0.40
0.40
2018 1.45
0.35
0.35
0.35
0.40
2017 1.25
0.30
0.30
0.30
0.35
2016 1.20
0.30
0.30
0.30
0.30
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 34,990 22,336 20,834 23,388
Receivables — — — —
Inventory — — — —
Other — — — —
166,545 160,881 167,198 172,938
2023 2024 2025 Q'26
Payables 145,854 155,229 161,578 173,427
ST’ Debt — — — —
Other — — — —
146,339 155,596 161,802 173,579

Compound Annual Growth %

10y 5y 3y
Sales 26.02% 49.21% 37.75%
Cash Flow 28.78% 50.71% 1.55%
Earnings 26.16% 35.07% 27.05%
Book Value 22.71% 39.37% 32.03%

Revenue $m

Mar Jun Sep Dec Year
’26 3,478 3,627 — — —
’25 3,530 3,623 3,697 3,655 14,505
’24 3,711 3,769 3,788 3,700 14,968
’23 11,470 3,611 3,725 3,660 22,466
’22 1,560 1,181 1,339 1,469 5,549
’21 492 495 487 485 1,959
’20 434 529 495 504 1,961
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 172 1,043 — — —
’25 98 859 916 1,050 2,923
’24 461 417 991 1,119 2,988
’23 (362) 916 1,205 901 2,660
’22 577 654 506 1,054 2,791
’21 126 (691) 154 127 (284)
’20 18 83 115 160 376
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 46 952 — — —
’25 (2) 740 688 816 2,242
’24 374 320 890 994 2,578
’23 (403) 839 1,141 697 2,274
’22 573 653 481 990 2,697
’21 112 (706) 142 103 (349)
’20 (4) 51 90 135 272
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 42.63 55.52 — — —
’25 34.47 42.36 43.08 45.81 165.24
’24 49.26 47.54 43.42 49.21 189.41
’23 653.64 45.87 50.67 34.33 784.51
’22 16.70 14.86 19.25 16.67 67.40
’21 14.53 15.09 12.17 12.09 53.88
’20 5.46 14.74 14.03 13.59 47.50
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.9
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 217.41 319.40 355.18 371.30 276.08 558.44 598.01 505.84 1,363.97 1,473.62

Analyst estimates 2026–2028

Powerpack
High 367.00 436.00 488.44 542.12 615.88 915.40 947.71 1,528.12 2,388.78 2,412.93
People
People Employees 6,296 6,799 6,683 7,176 6,722 6,846 10,684 16,021 17,475 18,141
Revenue/emp, $m 0.22 0.24 0.25 0.25 0.29 0.29 0.52 1.40 0.86 0.80
Income, $m
Income, $m Revenue 1,365 1,626 1,646 1,820 1,961 1,959 5,549 22,466 14,968 14,505
Gross margin, % 96.84 97.31 97.76 94.91 95.10 96.89 91.58 83.62 65.19 65.78
EBT 351 544 504 592 618 701 1,362 12,077 3,592 2,971
EBT margin, % 25.72 33.44 30.60 32.53 31.51 35.78 24.54 53.76 24.00 20.48
Net income 225 324 400 457 492 547 1,098 11,466 2,777 2,206
Depreciation 66 74 88 100 133 143 533 (57) 130 405
Per share, $
Per share, $ Revenue 113.64 135.36 137.87 163.35 194.99 199.56 357.26 1,546.40 1,043.66 1,115.55
Earnings 18.77 26.96 33.53 41.05 47.50 53.88 67.47 785.14 189.42 165.24
Cash flow 19.19 29.58 38.01 51.90 37.39 (28.93) 179.69 183.10 208.34 224.80
Capex 2.56 (3.42) (9.26) (8.53) (10.34) (6.62) (6.05) (26.57) (28.59) (52.37)
Free cash flow 21.75 26.16 28.75 43.37 27.05 (35.55) 173.64 156.53 179.75 172.43
Book value 250.83 277.61 292.26 321.89 420.53 482.66 622.07 1,463.05 1,549.86 1,710.29
Shares, m 12 12 12 11 10 10 16 15 14 13
Valuation, ×
Valuation, × P/E 18.90 15.01 11.24 12.96 12.01 15.40 11.13 1.83 11.15 12.95
P/S 3.12 2.99 2.73 3.26 2.95 4.16 2.10 0.93 2.02 1.92
P/B 1.42 1.46 1.29 1.65 1.48 1.85 1.33 1.03 1.42 1.34
EV/Sales 1.97 2.46 2.17 2.76 0.88 (0.06) 1.91 1.03 2.98 2.95
EV/FCF 14.62 12.74 10.40 10.38 6.33 0.32 3.93 10.15 17.32 19.11
Cash, $m
Cash, $m Operating cash flow 231 355 454 578 376 (284) 2,791 2,660 2,988 2,923
Capex 31 (41) (111) (95) (104) (65) (94) (386) (410) (681)
Free cash flow 261 314 343 483 272 (349) 2,697 2,274 2,578 2,242
Balance, $m
Balance, $m Working capital (4,759) (4,810) (4,901) (4,977) (7,264) (10,348) (16,192) 20,206 5,285 5,396
Total debt 833 870 194 572 655 1,195 4,459 37,169 36,684 35,784
Net debt (1,579) (854) (931) (912) (4,054) (8,258) (1,084) 2,179 14,348 14,950
Shareholders’ equity 3,012 3,334 3,489 3,586 4,229 4,738 9,662 21,255 22,228 22,238
Returns, %
Returns, % ROA 0.70 0.96 1.14 1.22 1.06 0.98 1.25 7.06 1.24 0.95
ROIC 16.37 14.57 13.20 14.93 242.78 0.00 12.36 34.01 6.89 5.68
ROE 7.66 10.20 11.73 12.93 12.79 12.77 15.90 78.25 13.02 10.18
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

First Citizens BancShares, Inc. vs peers in Banks Regional (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
BAP Credicorp Ltd. $30.9B 14.5× 10.9× +12.23% (above 0%: growing) +16.83% (above 0%: growing) +76.09% (above 0%: growing) 82.34% 0.00% Compare
BBDO Banco Bradesco SA $28.5B 8.6× — +32.31% (above 0%: growing) +30.00% (above 0%: growing) −266.98% (below 0%: shrinking) 36.36% 0.00% Compare
CFG Citizens Financial Group, Inc. $26.7B 13.6× 12.3× +6.25% (above 0%: growing) +40.86% (above 0%: growing) −17.35% (below 0%: shrinking) 71.46% 0.00% Compare
RF Regions Financial Corporation $23.3B 11.1× 10.9× −2.14% (below 0%: shrinking) +8.47% (above 0%: growing) −39.63% (below 0%: shrinking) 80.19% 0.00% Compare
FCNCA First Citizens BancShares, Inc. $23.3B 11.4× 11.8× +0.11% (above 0%: growing) +31.07% (above 0%: growing) +28.65% (above 0%: growing) 67.05% 0.00%
BBD Banco Bradesco SA $22.5B 9.4× 6.5× +32.31% (above 0%: growing) +30.00% (above 0%: growing) −266.98% (below 0%: shrinking) 36.36% 0.00% Compare
KEY KeyCorp $21.3B 11.5× 11.9× −1.14% (below 0%: shrinking) +25.71% (above 0%: growing) −80.76% (below 0%: shrinking) 70.74% 0.00% Compare
BSBR Banco Santander Brasil SA $20.9B 7.4× — +14.98% (above 0%: growing) −5.56% (below 0%: shrinking) +274.78% (above 0%: growing) 40.57% 0.00% Compare
BCH Banco De Chile $19.8B 14.7× 13.3× +14.73% (above 0%: growing) +34.37% (above 0%: growing) −141.88% (below 0%: shrinking) 79.35% 0.00% Compare
Median of peers $22.9B 11.3× 11.4× +13.48% +27.85% −60.19% 71.10% 0.00%

All 323 Banks Regional stocks →

First Citizens BancShares, Inc. (FCNCA) key facts

  • Concern: First Citizens BancShares, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $14.5 billion, down 3.09% from fiscal 2024.
  • Concern: Net income was $2.2 billion, or $165.24 per share (basic), a net margin of 14.8%.
  • First Citizens BancShares, Inc. (FCNCA) is a Banks Regional company in the Financial sector, listed on Nasdaq.
  • As of October 16, 2026, FCNCA traded at $2,123.74, a market capitalization of $23.3 billion.
  • At that price the stock trades at 11.4× trailing-twelve-month earnings and 1.7× sales; its P/E is higher than 31% of its own readings over the past ten years.
  • First Citizens BancShares, Inc. pays an annual dividend of $8.40 per share, a yield of 0.40%, with a payout ratio of 4.49%.
  • Return on equity was 10.2% and debt-to-equity 1.46.
  • Its Piotroski F-score is 6 out of 9 for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

First Citizens BancShares, Inc. (FCNCA) Latest News

stockrow.com/FCNCA · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com