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First Hawaiian, Inc.

FHB Financial Banks Regional

First Hawaiian, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.2 billion, roughly unchanged from fiscal 2024.

Revenue
−2.99%
EPS
−11.9%
Free cash flow
+105.6%

Quarter to September 2026, against a year earlier

25.08 0.04 −0.16%
Market cap
$3.1B
P/E
11.2×
Fwd P/E
12.4×
Dividend yield
4.14%
F-score
9/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 1.15
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 1 — 1 — — — — — — — — —
Insider Ownership 0.81%

Capital & Financial Ratios $m

Size
Market Cap 3,060.00
Revenue ttm 1,158.22
Net income ttm 274.82
Free cash flow ttm 364.96
Net debt Q (1,329.93)
Valuation
P/E 11.21
Forward P/E 12.40
Price / sales 2.64
Forward P/S Powerpack
Price / FCF 8.38
Price / book 1.08
Financial health
Current ratio Q 0.78
Debt / equity Q 0.00
Interest coverage Q —
Growth
Revenue growth Q −2.99% (below 0%: shrinking)
Operating income growth Q −41.19% (below 0%: shrinking)
EPS, this year +1.65%
EPS, next year A +13.26%
Revenue, next year A −18.89% (below 0%: weak)
EPS, past 5 yrs +9.00%
EPS, next 5 yrs A +7.59%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

P/E against its own 10 years 16.17%
10-year low 10-year high
P/S against its own 10 years 21.05%
10-year low 10-year high
P/B against its own 10 years 16.83%
10-year low 10-year high

Dividends

Yield
4.14%
Annual rate
1.04
Payout ratio
46.6%
Growth, 2018–26
+1.01%/yr
  1. 0.96 ’18
  2. 1.04 ’19 +8
  3. 1.04 ’20 +0
  4. 1.04 ’21 +0
  5. 1.04 ’22 +0
  6. 1.04 ’23 +0
  7. 1.04 ’24 +0
  8. 1.04 ’25 +0
  9. 1.04 ’26 +0
paid change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 1,740 1,170 1,478 1,330
Receivables — — — —
Inventory — — — —
Other — — — —
16,021 15,498 15,701 15,703
2023 2024 2025 Q'26
Payables 21,333 20,322 20,516 20,205
ST’ Debt — — — —
Other — — — —
21,833 20,572 20,516 20,205

Compound Annual Growth %

10y 5y 3y
Sales 5.21% 8.41% 11.50%
Cash Flow 8.92% 9.85% (8.02%)
Earnings 2.60% 8.26% 1.31%
Book Value 0.12% 0.18% 6.87%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.60 Actual 0.52

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.55 0.56 Beat by 0.01
Q1 FY26 0.53 0.55 Beat by 0.02
Q2 FY26 0.60 0.60 Met by 0.00
Q3 FY26 0.60 0.52 Miss by 0.08
Q4 FY26 0.57 — Reports 29 January 2027

EPS $

Mar Jun Sep Dec Year
’26 0.55 0.60 0.52 — —
’25 0.47 0.58 0.59 0.56 2.20
’24 0.42 0.48 0.48 0.41 1.79
’23 0.52 0.49 0.46 0.37 1.84
’22 0.45 0.46 0.54 0.62 2.08
’21 0.44 0.67 0.50 0.44 2.05
’20 0.30 0.15 0.50 0.47 1.43
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 283 293 291 — —
’25 286 291 300 292 1,168
’24 296 297 303 270 1,166
’23 263 277 286 299 1,124
’22 178 194 222 249 843
’21 178 186 187 183 734
’20 208 186 191 195 780
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 160 13 107 — —
’25 37 136 57 105 335
’24 67 78 59 114 318
’23 83 105 26 41 255
’22 66 99 156 109 431
’21 154 94 48 120 417
’20 (52) 160 (8) 109 210
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 155 8 102 — —
’25 29 125 50 100 303
’24 62 72 52 130 316
’23 81 102 22 42 248
’22 64 96 151 124 435
’21 150 89 45 115 401
’20 (66) 155 (14) 103 177
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

3.3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 745 776 825 871 780 734 843 1,124 1,166 1,168 1,158 +5.1% 948 1,456 1,498 +8.6%
Gross margin, % 96.39 94.59 90.34 87.91 93.97 97.45 94.11 74.43 69.35 75.39 78.37 (21.0) pt
EBT 372 368 358 382 244 349 351 309 293 354 326 (0.5%)
EBT margin, % 49.94 47.45 43.41 43.81 31.24 47.53 41.67 27.50 25.10 30.32 28.11 (19.6) pt
Net income 230 184 264 284 186 266 266 235 230 276 275 +2.0%
Per share, $
Per share, $ Revenue 5.34 5.56 6.02 6.55 6.01 5.69 6.61 8.81 9.13 9.36 9.52 +6.4%
Earnings 1.65 1.32 1.93 2.14 1.43 2.06 2.08 1.84 1.80 2.21 2.24 +3.3%
Cash flow 1.58 1.93 2.57 2.23 1.61 3.23 3.38 2.00 2.49 2.69 3.16 +6.1%
Capex (0.10) (0.01) (0.26) (0.21) (0.25) (0.13) 0.03 (0.06) (0.01) (0.25) (0.16) +10.5%
Free cash flow 1.47 1.93 2.31 2.01 1.36 3.11 3.41 1.94 2.48 2.43 3.00 +5.7%
Book value 17.75 18.15 18.44 19.84 21.13 20.60 17.80 19.49 20.50 22.19 23.16 +2.5%
Shares, m 139 140 137 133 130 129 127 128 128 125 123 (1.2%)
Valuation, ×
Valuation, × P/E 21.01 22.63 11.66 13.48 16.49 13.27 12.59 12.35 14.50 11.45 11.21 14.9
P/S 6.49 5.37 3.74 4.41 3.93 4.80 3.94 2.58 2.84 2.70 2.64 4.1
P/B 1.95 1.65 1.22 1.45 1.12 1.33 1.46 1.17 1.27 1.14 1.08 1.4
EV/Sales 5.08 4.04 3.25 3.84 2.85 3.17 3.39 1.48 2.27 1.87 — 3.1
EV/FCF 18.39 11.66 8.47 12.49 12.56 5.80 6.57 6.70 8.36 7.19 — 9.8
Cash, $m
Cash, $m Operating cash flow 220 270 351 297 210 417 431 255 318 335 385 +4.8%
Capex (14) (1) (35) (29) (33) (16) 4 (7) (1) (32) (20) +9.2%
Free cash flow 206 269 316 268 177 401 435 248 316 303 365 +4.4%
Balance, $m
Balance, $m Working capital (4,325) (4,389) (3,163) (3,024) (5,035) (7,689) (7,211) (5,811) (5,074) (4,815) (4,502) +1.2%
Net debt (1,052) (1,035) (404) (494) (841) (1,258) (527) (1,740) (1,170) (1,478) (1,330) +3.8%
Shareholders’ equity 2,476 2,533 2,525 2,640 2,744 2,657 2,269 2,486 2,617 2,769 2,818 +1.2%
Returns, %
Returns, % ROA 1.18 0.91 1.28 1.39 0.87 1.12 1.07 0.95 0.94 1.16 1.15 0.0 pt
ROIC 16.31 15.37 10.55 11.12 8.00 15.60 12.60 25.90 12.64 17.14 13.96 +0.8 pt
ROE 8.83 7.33 10.46 11.01 6.90 9.84 10.79 9.88 9.02 10.26 9.90 +1.4 pt
People
People Employees 2,200 2,300 2,200 2,100 2,100 2,000 2,000 2,000 2,000 2,000 — (1.1%)
Revenue/emp, $m 0.34 0.34 0.38 0.41 0.37 0.37 0.42 0.56 0.58 0.58 — +6.3%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

First Hawaiian, 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
MCHB Mechanics Bancorp $3.4B 11.9× 16.4× +32.34% (above 0%: growing) +18.88% (above 0%: growing) −31.39% (below 0%: shrinking) 76.78% 0.00% Compare
PRK Park National Corporation $3.3B 15.7× 14.6× +24.17% (above 0%: growing) +7.57% (above 0%: growing) +4.77% (above 0%: growing) 84.27% 0.00% Compare
SBCF Seacoast Banking Corporation of Florida $3.3B 18.8× 16.4× +29.89% (above 0%: growing) +48.07% (above 0%: growing) −19.23% (below 0%: shrinking) 73.05% 0.00% Compare
BKU BankUnited, Inc. $3.2B 11.9× 11.2× −5.99% (below 0%: shrinking) +6.25% (above 0%: growing) +9.39% (above 0%: growing) 62.35% 0.00% Compare
FHB First Hawaiian, Inc. $3.1B 11.2× 12.4× −2.99% (below 0%: shrinking) −11.86% (below 0%: shrinking) +105.64% (above 0%: growing) 79.21% 0.00%
PFS Provident Financial Services, Inc $3.0B 9.7× 9.5× +4.27% (above 0%: growing) −3.56% (below 0%: shrinking) −40.48% (below 0%: shrinking) 64.68% 0.00% Compare
CLBK Columbia Financial $3.0B 32.8× 20.1× +5.07% (above 0%: growing) +15.99% (above 0%: growing) +34.28% (above 0%: growing) 55.42% 0.00% Compare
BANC Banc of California, Inc. $2.9B — (loss-making) — (loss-making) +1.56% (above 0%: growing) +37.95% (above 0%: growing) +158.46% (above 0%: growing) 64.08% 0.00% Compare
CUBI Customers Bancorp, Inc $2.8B 9.9× 9.9× +2.67% (above 0%: growing) +2.19% (above 0%: growing) −34.56% (below 0%: shrinking) 59.54% 0.00% Compare
Median of peers $3.1B 11.9× 14.6× +4.67% +11.78% −7.23% 64.38% 0.00%

All 327 Banks Regional stocks →

Pay and ownership Proxy statement filed 12 March 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 6.29m 6.15m 132.97
2024 5.38m 7.37m 130.81
2023 5.37m 3.45m 110.24
2022 4.55m 5.77m 119.23
2021 4.43m 4.77m 120.33

Ownership

Directors and executive officers, together less than 1%
BlackRock, Inc. 12.20%
The Vanguard Group 11.90%
Kayne Anderson Rudnick Investment Management, LLC 10.50%
Dimensional Fund Advisors LP 5.20%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

First Hawaiian, Inc. (FHB) Latest News

29 Oct

Impact 4 · · GlobeNewswire

26 Oct

Impact 4 · · The Motley Fool
Impact 4 · · StockStory
Impact 3 · · StockStory

24 Oct

Impact 4 · · Moby transcript
Impact 4 · · Simply Wall St.
Impact 3 · · StockStory

23 Oct

Impact 4 · · The Motley Fool transcript
Impact 4 · · MarketBeat
Impact 3 · · Zacks
Impact 3 · · StockStory
Impact 3 · · StockStory
Impact 3 · · Zacks
Impact 3 · · Associated Press

22 Oct

Impact 4 · · Simply Wall St.
Impact 3 · · StockStory

19 Oct

Impact 3 · · Zacks

16 Oct

Impact 3 · · Zacks

6 Oct

Impact 3 · · StockStory

25 Sep

Impact 3 · · Simply Wall St.
Impact 3 · · StockStory

24 Sep

Impact 3 ·

28 Jul

Impact 4 ·

26 Jul

Impact 4 ·
Impact 3 ·

25 Jul

Impact 3 · · Moby transcript

24 Jul

Impact 3 ·
Impact 3 · · MarketBeat
Impact 3 ·
Impact 3 ·

FHB metrics, ten years each

stockrow.com/FHB · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com