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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. In the quarter to June 2026, revenue was flat, EPS grew 3.45% and free cash flow fell 93.8%, each against the same quarter a year earlier. Dividend growth for ten consecutive years, revenue growth for three.

24.95 0.01 +0.04%
Market cap
$3.0B
P/E
10.8×
Fwd P/E
11.8×
Dividend yield
4.17%
F-score
9/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 1.15
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — 1 — 1 — — — — — — — —
Insider Ownership 0.80%

Capital & Financial Ratios $m

Market Cap 3,030.00
Revenue 1,167.19
Net Income 284.93
Free Cash Flow 312.66
Net Debt (1,012.50)
Current Ratio 0.77
Debt/Equity 0.00
P/E ratio 10.80
Fwd P/E 11.80
P/S ratio 2.60
P/B ratio 1.07
Past 5Y EPS Growth 9.00%
This Y EPS Growth 7.31%
Next Y EPS Growth 7.49%
Next Y revenue growth (18.92%) (below 0%: weak)
Next 5Y EPS Growth 7.73%

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

Valuation vs history

P/E against its own 10 years 12.94%
10-year low 10-year high
P/S against its own 10 years 18.58%
10-year low 10-year high
P/B against its own 10 years 15.14%
10-year low 10-year high

Dividends

Payout Ratio 0.45
Annual Dividend Rate 1.04
Annual Dividend Yield 4.17%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 1.04
0.26
0.26
0.26
2025 1.04
0.26
0.26
0.26
0.26
2024 1.04
0.26
0.26
0.26
0.26
2023 1.04
0.26
0.26
0.26
0.26
2022 1.04
0.26
0.26
0.26
0.26
2021 1.04
0.26
0.26
0.26
0.26
2020 1.04
0.26
0.26
0.26
0.26
2019 1.04
0.26
0.26
0.26
0.26
2018 0.96
0.24
0.24
0.24
0.24
2017 0.88
0.22
0.22
0.22
0.22
2016 0.20
0.20
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 1,740 1,170 1,478 1,012
Receivables — — — —
Inventory — — — —
Other — — — —
16,021 15,498 15,701 15,498
2023 2024 2025 Q'26
Payables 21,333 20,322 20,516 20,154
ST’ Debt — — — —
Other — — — —
21,833 20,572 20,516 20,154

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%

Revenue $m

Mar Jun Sep Dec Year
’26 283 293 — — —
’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 — — —
’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 — — —
’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.

EPS $

Mar Jun Sep Dec Year
’26 0.55 0.60 — — —
’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.

Target Price Range

Analyst price targets

Recommendation Rating

3.3
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 24.25 26.30 21.19 22.13 13.56 23.14 21.21 15.08 19.48 20.32

Analyst estimates 2026–2028

Powerpack
High 35.47 35.32 32.36 29.47 31.25 30.80 31.16 28.28 28.80 28.28
People
People Employees 2,200 2,300 2,200 2,100 2,100 2,000 2,000 2,000 2,000 2,000
Revenue/emp, $m 0.34 0.34 0.38 0.41 0.37 0.37 0.42 0.56 0.58 0.58
Income, $m
Income, $m Revenue 745 776 825 871 780 734 843 1,124 1,166 1,168
Gross margin, % 96.39 94.59 90.34 87.91 93.97 97.45 94.11 74.43 69.35 75.39
EBT 372 368 358 382 244 349 351 309 293 354
EBT margin, % 49.94 47.45 43.41 43.81 31.24 47.53 41.67 27.50 25.10 30.32
Net income 230 184 264 284 186 266 266 235 230 276
Depreciation 52 62 55 68 63 52 57 43 38 34
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
Earnings 1.65 1.32 1.93 2.14 1.43 2.06 2.08 1.84 1.80 2.21
Cash flow 1.58 1.93 2.57 2.23 1.61 3.23 3.38 2.00 2.49 2.69
Capex (0.10) (0.01) (0.26) (0.21) (0.25) (0.13) 0.03 (0.06) (0.01) (0.25)
Free cash flow 1.47 1.93 2.31 2.01 1.36 3.11 3.41 1.94 2.48 2.43
Book value 17.75 18.15 18.44 19.84 21.13 20.60 17.80 19.49 20.50 22.19
Shares, m 139 140 137 133 130 129 127 128 128 125
Valuation, ×
Valuation, × P/E 21.01 22.63 11.66 13.48 16.49 13.27 12.59 12.35 14.50 11.45
P/S 6.49 5.37 3.74 4.41 3.93 4.80 3.94 2.58 2.84 2.70
P/B 1.95 1.65 1.22 1.45 1.12 1.33 1.46 1.17 1.27 1.14
EV/Sales 5.08 4.04 3.25 3.84 2.85 3.17 3.39 1.48 2.27 1.87
EV/FCF 18.39 11.66 8.47 12.49 12.56 5.80 6.57 6.70 8.36 7.19
Cash, $m
Cash, $m Operating cash flow 220 270 351 297 210 417 431 255 318 335
Capex (14) (1) (35) (29) (33) (16) 4 (7) (1) (32)
Free cash flow 206 269 316 268 177 401 435 248 316 303
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)
Total debt 0 0 600 200 200 58 59 — — —
Net debt (1,052) (1,035) (404) (494) (841) (1,258) (527) (1,740) (1,170) (1,478)
Shareholders’ equity 2,476 2,533 2,525 2,640 2,744 2,657 2,269 2,486 2,617 2,769
Returns, %
Returns, % ROA 1.18 0.91 1.28 1.39 0.87 1.12 1.07 0.95 0.94 1.16
ROIC 16.31 15.37 10.55 11.12 8.00 15.60 12.60 25.90 12.64 17.14
ROE 8.83 7.33 10.46 11.01 6.90 9.84 10.79 9.88 9.02 10.26
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

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
PRK Park National Corporation $3.2B 15.9× 14.7× +25.60% (above 0%: growing) +9.06% (above 0%: growing) +4.77% (above 0%: growing) 84.20% 0.00% Compare
SFNC Simmons First National Corporation $3.2B — (loss-making) 10.5× −0.49% (below 0%: shrinking) +6.98% (above 0%: growing) +89.30% (above 0%: growing) 69.90% 0.00% Compare
CBU Community Financial System, Inc. $3.1B 14.0× 13.3× +8.48% (above 0%: growing) +19.59% (above 0%: growing) +15.96% (above 0%: growing) 83.15% 0.00% Compare
SBCF Seacoast Banking Corporation of Florida $3.1B 20.5× 14.1× +30.05% (above 0%: growing) +10.00% (above 0%: growing) −19.23% (below 0%: shrinking) 73.47% 0.00% Compare
FHB First Hawaiian, Inc. $3.0B 10.8× 11.8× +0.67% (above 0%: growing) +3.45% (above 0%: growing) −93.83% (below 0%: shrinking) 79.03% 0.00%
BKU BankUnited, Inc. $3.0B 11.4× 11.4× −5.37% (below 0%: shrinking) +6.59% (above 0%: growing) +9.39% (above 0%: growing) 62.44% 0.00% Compare
INTR Inter & Co. Inc. $3.0B 10.2× 6.9× +45.51% (above 0%: growing) +46.15% (above 0%: growing) −253.49% (below 0%: shrinking) 59.27% 0.00% Compare
CLBK Columbia Financial $2.9B 31.5× 39.7× +5.07% (above 0%: growing) +162.20% (above 0%: growing) +34.28% (above 0%: growing) 55.42% 0.00% Compare
PFS Provident Financial Services, Inc $2.9B 9.3× 9.6× +4.42% (above 0%: growing) +9.09% (above 0%: growing) −40.48% (below 0%: shrinking) 65.44% 0.00% Compare
Median of peers $3.1B 14.0× 12.4× +6.78% +9.55% +7.08% 67.67% 0.00%

All 323 Banks Regional stocks →

First Hawaiian, Inc. (FHB) key facts

  • Strength: Net income was $276.3 million, or $2.21 per share (basic), a net margin of 23.7%.
  • First Hawaiian, Inc. (FHB) is a Banks Regional company in the Financial sector, listed on Nasdaq.
  • First Hawaiian, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.2 billion, roughly unchanged from fiscal 2024.
  • As of October 16, 2026, FHB traded at $24.95, a market capitalization of $3.0 billion.
  • At that price the stock trades at 10.8× trailing-twelve-month earnings and 2.6× sales; its P/E is higher than 13% of its own readings over the past ten years.
  • First Hawaiian, Inc. pays an annual dividend of $1.04 per share, a yield of 4.17%, with a payout ratio of 45.2%.
  • Return on equity was 10.3% and debt-to-equity 0.00.
  • Its Piotroski F-score is 9 out of 9 for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

First Hawaiian, Inc. (FHB) Latest News

13 Jul

Impact 5 ·
Impact 5 ·
stockrow.com/FHB · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com