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FIRST BANCORP PUERTO RICO (FBP) Stock Fundamental Analysis

NYSE:FBP - New York Stock Exchange, Inc. - PR3186727065 - Common Stock - Currency: USD

19.58  +0.02 (+0.1%)

After market: 19.58 0 (0%)

Fundamental Rating

5

Overall FBP gets a fundamental rating of 5 out of 10. We evaluated FBP against 398 industry peers in the Banks industry. FBP has an average financial health and profitability rating. FBP has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

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5

1. Profitability

1.1 Basic Checks

In the past year FBP was profitable.
In the past year FBP had a positive cash flow from operations.
In the past 5 years FBP has always been profitable.
In the past 5 years FBP always reported a positive cash flow from operatings.
FBP Yearly Net Income VS EBIT VS OCF VS FCFFBP Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M

1.2 Ratios

With an excellent Return On Assets value of 1.55%, FBP belongs to the best of the industry, outperforming 91.71% of the companies in the same industry.
Looking at the Return On Equity, with a value of 17.90%, FBP belongs to the top of the industry, outperforming 95.23% of the companies in the same industry.
Industry RankSector Rank
ROA 1.55%
ROE 17.9%
ROIC N/A
ROA(3y)1.6%
ROA(5y)1.33%
ROE(3y)20.38%
ROE(5y)15.74%
ROIC(3y)N/A
ROIC(5y)N/A
FBP Yearly ROA, ROE, ROICFBP Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15 20

1.3 Margins

Looking at the Profit Margin, with a value of 31.84%, FBP belongs to the top of the industry, outperforming 86.43% of the companies in the same industry.
In the last couple of years the Profit Margin of FBP has grown nicely.
The Operating Margin and Gross Margin are not available for FBP so they could not be analyzed.
Industry RankSector Rank
OM N/A
PM (TTM) 31.84%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-0.76%
PM growth 5Y4.92%
GM growth 3YN/A
GM growth 5YN/A
FBP Yearly Profit, Operating, Gross MarginsFBP Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30

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4

2. Health

2.1 Basic Checks

FBP does not have a ROIC to compare to the WACC, probably because it is not profitable.
Compared to 1 year ago, FBP has less shares outstanding
Compared to 5 years ago, FBP has less shares outstanding
Compared to 1 year ago, FBP has an improved debt to assets ratio.
FBP Yearly Shares OutstandingFBP Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M
FBP Yearly Total Debt VS Total AssetsFBP Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B 20B

2.2 Solvency

The Debt to FCF ratio of FBP is 1.43, which is an excellent value as it means it would take FBP, only 1.43 years of fcf income to pay off all of its debts.
FBP has a better Debt to FCF ratio (1.43) than 64.82% of its industry peers.
FBP has a Debt/Equity ratio of 0.34. This is a healthy value indicating a solid balance between debt and equity.
FBP has a Debt to Equity ratio of 0.34. This is in the lower half of the industry: FBP underperforms 69.85% of its industry peers.
Although FBP does not score too well on debt/equity it has very limited outstanding debt, which is well covered by the FCF. We will not put too much weight on the debt/equity number as it may be because of low equity, which could be a consequence of a share buyback program for instance. This needs to be investigated.
Industry RankSector Rank
Debt/Equity 0.34
Debt/FCF 1.43
Altman-Z N/A
ROIC/WACCN/A
WACC13.23%
FBP Yearly LT Debt VS Equity VS FCFFBP Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
FBP Yearly Current Assets VS Current LiabilitesFBP Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M

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5

3. Growth

3.1 Past

FBP shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 3.95%.
The Earnings Per Share has been growing by 19.59% on average over the past years. This is quite good.
The Revenue has been growing slightly by 1.30% in the past year.
FBP shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 7.36% yearly.
EPS 1Y (TTM)3.95%
EPS 3Y8.94%
EPS 5Y19.59%
EPS Q2Q%6.82%
Revenue 1Y (TTM)1.3%
Revenue growth 3Y3.3%
Revenue growth 5Y7.36%
Sales Q2Q%26.26%

3.2 Future

The Earnings Per Share is expected to grow by 7.56% on average over the next years.
FBP is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 10.51% yearly.
EPS Next Y1.46%
EPS Next 2Y7.6%
EPS Next 3Y7.56%
EPS Next 5YN/A
Revenue Next Year14.05%
Revenue Next 2Y10.28%
Revenue Next 3Y10.51%
Revenue Next 5YN/A

3.3 Evolution

The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
FBP Yearly Revenue VS EstimatesFBP Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 200M 400M 600M 800M 1B
FBP Yearly EPS VS EstimatesFBP Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0.5 1 1.5 2

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5

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 10.64 indicates a reasonable valuation of FBP.
Based on the Price/Earnings ratio, FBP is valued a bit cheaper than the industry average as 66.08% of the companies are valued more expensively.
FBP is valuated cheaply when we compare the Price/Earnings ratio to 28.92, which is the current average of the S&P500 Index.
A Price/Forward Earnings ratio of 9.34 indicates a reasonable valuation of FBP.
The rest of the industry has a similar Price/Forward Earnings ratio as FBP.
Compared to an average S&P500 Price/Forward Earnings ratio of 21.65, FBP is valued rather cheaply.
Industry RankSector Rank
PE 10.64
Fwd PE 9.34
FBP Price Earnings VS Forward Price EarningsFBP Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

Based on the Price/Free Cash Flow ratio, FBP is valued a bit cheaper than 76.38% of the companies in the same industry.
Industry RankSector Rank
P/FCF 8.1
EV/EBITDA N/A
FBP Per share dataFBP EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6 8 10

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
PEG (NY)7.31
PEG (5Y)0.54
EPS Next 2Y7.6%
EPS Next 3Y7.56%

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6

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 3.68%, FBP has a reasonable but not impressive dividend return.
FBP's Dividend Yield is a higher than the industry average which is at 3.63.
FBP's Dividend Yield is a higher than the S&P500 average which is at 2.51.
Industry RankSector Rank
Dividend Yield 3.68%

5.2 History

The dividend of FBP is nicely growing with an annual growth rate of 33.03%!
FBP has paid a dividend for at least 10 years, which is a reliable track record.
As FBP did not decrease their dividend in the past 5 years, we can say the dividend looks stable.
Dividend Growth(5Y)33.03%
Div Incr Years6
Div Non Decr Years6
FBP Yearly Dividends per shareFBP Yearly Dividends per shareYearly Dividends per share 2018 2019 2020 2021 2022 2023 2024 2025 0.2 0.4 0.6

5.3 Sustainability

FBP pays out 35.34% of its income as dividend. This is a sustainable payout ratio.
The dividend of FBP is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP35.34%
EPS Next 2Y7.6%
EPS Next 3Y7.56%
FBP Yearly Income VS Free CF VS DividendFBP Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M
FBP Dividend Payout.FBP Dividend Payout, showing the Payout Ratio.FBP Dividend Payout.PayoutRetained Earnings

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FIRST BANCORP PUERTO RICO

NYSE:FBP (4/24/2025, 8:06:35 PM)

After market: 19.58 0 (0%)

19.58

+0.02 (+0.1%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)04-24 2025-04-24/bmo
Earnings (Next)07-21 2025-07-21/bmo
Inst Owners99.28%
Inst Owner Change-0.1%
Ins Owners1.99%
Ins Owner Change-4%
Market Cap3.19B
Analysts78
Price Target23.46 (19.82%)
Short Float %2.43%
Short Ratio3.94
Dividend
Industry RankSector Rank
Dividend Yield 3.68%
Yearly Dividend0.63
Dividend Growth(5Y)33.03%
DP35.34%
Div Incr Years6
Div Non Decr Years6
Ex-Date02-21 2025-02-21 (0.18)
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)9.46%
Min EPS beat(2)7.84%
Max EPS beat(2)11.08%
EPS beat(4)4
Avg EPS beat(4)11.67%
Min EPS beat(4)7.84%
Max EPS beat(4)16.23%
EPS beat(8)8
Avg EPS beat(8)14.5%
EPS beat(12)11
Avg EPS beat(12)11.93%
EPS beat(16)15
Avg EPS beat(16)14.81%
Revenue beat(2)1
Avg Revenue beat(2)6.72%
Min Revenue beat(2)-3.34%
Max Revenue beat(2)16.77%
Revenue beat(4)1
Avg Revenue beat(4)1.42%
Min Revenue beat(4)-5.45%
Max Revenue beat(4)16.77%
Revenue beat(8)2
Avg Revenue beat(8)1.24%
Revenue beat(12)6
Avg Revenue beat(12)5.31%
Revenue beat(16)10
Avg Revenue beat(16)8.16%
PT rev (1m)-0.71%
PT rev (3m)-0.71%
EPS NQ rev (1m)-0.3%
EPS NQ rev (3m)2.58%
EPS NY rev (1m)-0.27%
EPS NY rev (3m)2.29%
Revenue NQ rev (1m)2.18%
Revenue NQ rev (3m)7.79%
Revenue NY rev (1m)0%
Revenue NY rev (3m)1.86%
Valuation
Industry RankSector Rank
PE 10.64
Fwd PE 9.34
P/S 3.4
P/FCF 8.1
P/OCF 7.9
P/B 1.91
P/tB 2
EV/EBITDA N/A
EPS(TTM)1.84
EY9.4%
EPS(NY)2.1
Fwd EY10.7%
FCF(TTM)2.42
FCFY12.34%
OCF(TTM)2.48
OCFY12.65%
SpS5.75
BVpS10.23
TBVpS9.8
PEG (NY)7.31
PEG (5Y)0.54
Profitability
Industry RankSector Rank
ROA 1.55%
ROE 17.9%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 31.84%
GM N/A
FCFM 42.01%
ROA(3y)1.6%
ROA(5y)1.33%
ROE(3y)20.38%
ROE(5y)15.74%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-0.76%
PM growth 5Y4.92%
GM growth 3YN/A
GM growth 5YN/A
F-Score5
Asset Turnover0.05
Health
Industry RankSector Rank
Debt/Equity 0.34
Debt/FCF 1.43
Debt/EBITDA N/A
Cap/Depr 40.04%
Cap/Sales 1.07%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality 131.94%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score5
WACC13.23%
ROIC/WACCN/A
Cap/Depr(3y)61.95%
Cap/Depr(5y)56.86%
Cap/Sales(3y)1.91%
Cap/Sales(5y)1.91%
Profit Quality(3y)127.34%
Profit Quality(5y)160.82%
High Growth Momentum
Growth
EPS 1Y (TTM)3.95%
EPS 3Y8.94%
EPS 5Y19.59%
EPS Q2Q%6.82%
EPS Next Y1.46%
EPS Next 2Y7.6%
EPS Next 3Y7.56%
EPS Next 5YN/A
Revenue 1Y (TTM)1.3%
Revenue growth 3Y3.3%
Revenue growth 5Y7.36%
Sales Q2Q%26.26%
Revenue Next Year14.05%
Revenue Next 2Y10.28%
Revenue Next 3Y10.51%
Revenue Next 5YN/A
EBIT growth 1YN/A
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y15.8%
FCF growth 3Y0.66%
FCF growth 5Y7.72%
OCF growth 1Y11.35%
OCF growth 3Y0.37%
OCF growth 5Y6.55%