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First Financial Corporation Indiana

THFF Financial Banks Regional

First Financial Corporation Indiana’s revenue for fiscal 2025 (year ended December 2025) was $347.6 million, up 13.0% from fiscal 2024.

Revenue
+12.0%
EPS
+32.0%
Free cash flow
+35.6%
Total debt
+53.9%

Quarter to September 2026, against a year earlier

76.27 0.32 −0.42%
Market cap
$910.8M
P/E
9.9×
Fwd P/E
10.1×
Dividend yield
2.93%
F-score
7/9
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

Bought, $m 0.01
Sold, $m 0.14
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy 1 — — — — — — 1 — — 1 —
Sell — — — 1 — — — — — — — —
Insider Ownership 3.72%

Capital & Financial Ratios $m

Size
Market Cap 910.80
Revenue ttm 374.06
Net income ttm 91.44
Free cash flow ttm 102.21
Net debt Q 262.35
Valuation
P/E 9.94
Forward P/E 10.10
Price / sales 2.43
Forward P/S Powerpack
Price / FCF 8.91
Price / book 1.38
Financial health
Current ratio Q 0.00
Debt / equity Q 0.40
Interest coverage Q —
Growth
Revenue growth Q +12.04% (above 0%: growing)
Operating income growth Q +33.69% (above 0%: growing)
EPS, this year +20.81% (at or above 15%: strong)
EPS, next year A +3.19%
Revenue, next year A −14.66% (below 0%: weak)
EPS, past 5 yrs +11.19%
EPS, next 5 yrs A +9.02%

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 39.20%
10-year low 10-year high
P/S against its own 10 years 37.44%
10-year low 10-year high
P/B against its own 10 years 92.63%
10-year low 10-year high

Dividends raised 2 years running

Yield
2.93%
Annual rate
2.24
Payout ratio
29.1%
Growth, 2018–26
+10.3%/yr
  1. 1.02 ’18
  2. 1.03 ’19 +1
  3. 1.04 ’20 +1
  4. 1.06 ’21 +2
  5. 0.54 ’22 −49
  6. 1.53 ’23 +183
  7. 1.35 ’24 −12
  8. 2.04 ’25 +51
  9. 2.24 ’26 +10
paid change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 77 94 131 97
Receivables — — — —
Inventory — — — —
Other — — — —
3,230 3,912 4,166 4,542
2023 2024 2025 Q'26
Payables 4,090 4,719 4,551 4,865
ST’ Debt — — — —
Other — — — —
4,157 4,906 4,844 5,069

Compound Annual Growth %

10y 5y 3y
Sales 8.92% 11.36% 14.75%
Cash Flow 8.16% 3.15% 4.69%
Earnings 10.12% 8.03% 3.66%
Book Value 4.72% 1.74% 11.05%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 2.00 Actual 2.31

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 1.69 1.81 Beat by 0.12
Q1 FY26 1.64 1.67 Beat by 0.03
Q2 FY26 1.71 1.91 Beat by 0.20
Q3 FY26 2.00 2.31 Beat by 0.31
Q4 FY26 1.97 — Reports 2 February 2027

EPS $

Mar Jun Sep Dec Year
’26 1.67 1.91 2.31 — —
’25 1.55 1.57 1.75 1.81 6.68
’24 0.93 0.96 0.74 1.37 4.00
’23 1.33 1.33 1.37 1.06 5.08
’22 1.67 1.27 1.50 1.37 5.82
’21 0.95 1.24 1.24 0.58 4.02
’20 0.89 0.87 1.02 1.15 3.93
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 89 95 98 — —
’25 84 85 88 92 348
’24 69 71 83 85 308
’23 64 67 70 70 271
’22 53 53 60 63 230
’21 47 49 49 50 194
’20 50 48 51 53 203
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 23 18 36 — —
’25 21 13 27 30 90
’24 12 9 23 16 60
’23 24 14 28 20 86
’22 21 12 20 26 79
’21 15 12 15 12 55
’20 26 14 13 25 77
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 22 17 35 — —
’25 20 12 26 29 86
’24 11 8 20 15 54
’23 21 14 27 19 80
’22 19 12 19 27 77
’21 14 10 15 13 51
’20 24 13 12 24 74
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.5
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 156 150 164 188 203 194 230 271 308 348 374 +9.3% 297 344 359 +1.0%
Gross margin, % 97.18 95.78 94.13 90.69 93.03 95.47 92.06 77.45 70.81 75.34 76.33 (21.8) pt
EBT 58 50 58 61 66 66 88 72 57 99 114 +6.0%
EBT margin, % 37.29 33.14 35.11 32.52 32.29 33.77 38.15 26.74 18.59 28.40 30.36 (8.9) pt
Net income 38 29 47 49 54 53 71 61 47 79 91 +8.4%
Per share, $
Per share, $ Revenue 12.69 12.28 13.42 14.58 14.80 14.73 18.84 22.71 26.03 29.33 31.45 +9.8%
Earnings 3.12 2.38 3.80 3.80 3.93 4.02 5.82 5.08 4.00 6.68 7.70 +8.8%
Cash flow 3.34 4.10 4.69 3.88 5.64 4.17 6.45 7.21 5.11 7.63 8.95 +9.6%
Capex (0.25) (0.24) (0.16) (0.09) (0.28) (0.29) (0.12) (0.55) (0.52) (0.34) (0.36) +3.5%
Free cash flow 3.10 3.86 4.52 3.79 5.36 3.88 6.34 6.66 4.59 7.29 8.59 +10.0%
Book value 33.64 33.83 36.12 43.34 43.53 44.17 38.92 44.23 46.48 54.92 55.54 +5.6%
Shares, m 12 12 12 13 14 13 12 12 12 12 12 (0.4%)
Valuation, ×
Valuation, × P/E 16.78 18.89 10.57 12.06 9.89 11.29 7.92 8.41 11.55 9.04 9.94 11.6
P/S 4.11 3.66 2.99 3.14 2.63 3.07 2.44 1.89 1.77 2.06 2.43 2.8
P/B 1.55 1.33 1.11 1.05 0.89 1.03 1.18 0.97 0.99 1.10 1.38 1.1
EV/Sales 3.59 3.17 2.75 2.58 (0.59) (0.39) 1.48 2.00 1.56 2.23 — 1.8
EV/FCF 14.75 10.11 8.18 9.94 (1.62) (1.47) 4.39 6.83 8.85 8.96 — 6.9
Cash, $m
Cash, $m Operating cash flow 41 50 57 50 77 55 79 86 60 90 106 +9.1%
Capex (3) (3) (2) (1) (4) (4) (1) (7) (6) (4) (4) +3.0%
Free cash flow 38 47 55 49 74 51 77 80 54 86 102 +9.5%
Balance, $m
Balance, $m Working capital (595) (542) (484) (566) (631) (1,030) (1,159) (927) (994) (678) (5,069) +1.5%
Net debt (82) (74) (74) (104) (652) (672) (222) 32 (66) 57 262 n/m
Shareholders’ equity 414 414 443 558 597 583 475 528 549 651 660 +5.1%
Returns, %
Returns, % ROA 1.29 0.97 1.55 1.39 1.25 1.09 1.40 1.23 0.91 1.40 1.56 +0.1 pt
ROIC 10.96 9.16 9.80 8.40 0.00 0.00 21.68 8.10 7.40 8.71 7.69 (2.3) pt
ROE 9.32 7.04 10.88 9.77 9.33 8.98 13.44 12.09 8.78 13.20 14.26 +3.9 pt
People
People Employees 846 847 816 957 917 883 900 861 937 946 — +1.2%
Revenue/emp, $m 0.18 0.18 0.20 0.20 0.22 0.22 0.26 0.31 0.33 0.37 — +7.9%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 4 Nov 2026

First Financial Corporation Indiana 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
CPF CPB Inc. $977.8M 11.5× 11.4× −0.51% (below 0%: shrinking) +28.99% (above 0%: growing) +31.44% (above 0%: growing) 82.63% 0.00% Compare
HAFC Hanmi Financial Corporation $959.5M 10.6× 10.2× +2.24% (above 0%: growing) +10.38% (above 0%: growing) +48.02% (above 0%: growing) 65.09% 0.00% Compare
TRST TrustCo Bank Corp NY $934.5M 15.1× 9.1× +5.24% (above 0%: growing) +18.39% (above 0%: growing) +2.59% (above 0%: growing) 69.68% 0.00% Compare
FMNB Farmers National Banc Corp. $919.5M 10.6× 10.9× +43.94% (above 0%: growing) +5.41% (above 0%: growing) +114.21% (above 0%: growing) 70.09% 0.00% Compare
THFF First Financial Corporation Indiana $910.8M 9.9× 10.1× +12.04% (above 0%: growing) +32.00% (above 0%: growing) +35.58% (above 0%: growing) 76.21% 0.00%
NBBK NB Bancorp, Inc. $899.0M 13.2× 11.0× +39.49% (above 0%: growing) +37.21% (above 0%: growing) −112.43% (below 0%: shrinking) 63.66% 0.00% Compare
MPB Mid Penn Bancorp $869.3M 11.8× 11.2× +13.23% (above 0%: growing) +6.25% (above 0%: growing) −3.90% (below 0%: shrinking) 69.39% 0.00% Compare
GSBC Great Southern Bancorp, Inc. $868.0M 13.3× 13.9× −10.48% (below 0%: shrinking) −16.18% (below 0%: shrinking) −93.70% (below 0%: shrinking) 71.23% 0.00% Compare
ORRF Orrstown Financial Services Inc $864.7M 9.8× 9.8× +0.90% (above 0%: growing) +8.91% (above 0%: growing) −5.50% (below 0%: shrinking) 70.78% 0.00% Compare
Median of peers $909.3M 11.7× 11.0× +3.74% +9.65% −0.65% 69.89% 0.00%

All 327 Banks Regional stocks →

Pay and ownership Proxy statement filed 17 March 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 2.40m 2.33m 184.00
2024 1.35m 1.63m 135.00
2023 1.72m 1.67m 122.00
2022 1.72m 1.73m 125.00
2021 2.19m 1.73m 119.00

Ownership

Directors and executive officers, together 5.00%
BlackRock, Inc. 8.60%
The Vanguard Group 6.35%
Dimensional Fund Advisors LP 5.91%
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 Financial Corporation Indiana (THFF) Latest News

28 Oct

Impact 4 · · MarketBeat
Impact 3 · · Simply Wall St.
Impact 3 · · Associated Press earnings
Impact 3 · · PR Newswire

27 Oct

Impact 4 · · GlobeNewswire
Impact 3 · · Zacks earnings
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Impact 3 · · Associated Press earnings

26 Oct

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22 Oct

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15 Oct

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9 Oct

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23 Sep

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27 Aug

Impact 4 ·
Impact 4 · · bankingdive.com

28 Jul

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22 Jul

Impact 4 · · bankingdive.com

21 Jul

Impact 4 ·
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Impact 3 ·

8 Jun

Impact 4 · · PR Newswire

29 Apr

Impact 3 · · Zacks

28 Apr

Impact 4 · · Zacks
Impact 4 · · Zacks
Impact 3 · · GlobeNewswire

27 Apr

Impact 4 · · MarketBeat

24 Apr

Impact 4 · · The Motley Fool transcript
stockrow.com/THFF · Data as of Nov 4, 2026 · For information only; not investment advice. · © 2026 stockrow.com