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FIRST FINL BANKSHARES INC (FFIN) Stock Fundamental Analysis

NASDAQ:FFIN - Nasdaq - US32020R1095 - Common Stock - Currency: USD

33.78  +0.19 (+0.57%)

After market: 33.78 0 (0%)

Fundamental Rating

4

We assign a fundamental rating of 4 out of 10 to FFIN. FFIN was compared to 398 industry peers in the Banks industry. FFIN has only an average score on both its financial health and profitability. FFIN is quite expensive at the moment. It does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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5

1. Profitability

1.1 Basic Checks

FFIN had positive earnings in the past year.
FFIN had a positive operating cash flow in the past year.
FFIN had positive earnings in each of the past 5 years.
Each year in the past 5 years FFIN had a positive operating cash flow.
FFIN Yearly Net Income VS EBIT VS OCF VS FCFFFIN 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

1.2 Ratios

FFIN has a Return On Assets of 1.60%. This is amongst the best in the industry. FFIN outperforms 92.96% of its industry peers.
FFIN's Return On Equity of 13.91% is amongst the best of the industry. FFIN outperforms 88.94% of its industry peers.
Industry RankSector Rank
ROA 1.6%
ROE 13.91%
ROIC N/A
ROA(3y)1.64%
ROA(5y)1.7%
ROE(3y)15.24%
ROE(5y)14.14%
ROIC(3y)N/A
ROIC(5y)N/A
FFIN Yearly ROA, ROE, ROICFFIN Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15

1.3 Margins

FFIN has a Profit Margin of 40.58%. This is amongst the best in the industry. FFIN outperforms 96.23% of its industry peers.
In the last couple of years the Profit Margin of FFIN has remained more or less at the same level.
FFIN does not have Operating Margin and Gross Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) 40.58%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-2.95%
PM growth 5Y-0.43%
GM growth 3YN/A
GM growth 5YN/A
FFIN Yearly Profit, Operating, Gross MarginsFFIN Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30 40

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4

2. Health

2.1 Basic Checks

FFIN does not have a ROIC to compare to the WACC, probably because it is not profitable.
Compared to 1 year ago, FFIN has about the same amount of shares outstanding.
FFIN has more shares outstanding than it did 5 years ago.
FFIN has a better debt/assets ratio than last year.
FFIN Yearly Shares OutstandingFFIN Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M
FFIN Yearly Total Debt VS Total AssetsFFIN Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B 10B

2.2 Solvency

FFIN has a debt to FCF ratio of 0.67. This is a very positive value and a sign of high solvency as it would only need 0.67 years to pay back of all of its debts.
Looking at the Debt to FCF ratio, with a value of 0.67, FFIN belongs to the top of the industry, outperforming 80.15% of the companies in the same industry.
A Debt/Equity ratio of 0.12 indicates that FFIN is not too dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.12, FFIN is in the better half of the industry, outperforming 67.34% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.12
Debt/FCF 0.67
Altman-Z N/A
ROIC/WACCN/A
WACC11.79%
FFIN Yearly LT Debt VS Equity VS FCFFFIN 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

2.3 Liquidity

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

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6

3. Growth

3.1 Past

FFIN shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 15.71%, which is quite good.
Measured over the past 5 years, FFIN shows a small growth in Earnings Per Share. The EPS has been growing by 5.13% on average per year.
Looking at the last year, FFIN shows a quite strong growth in Revenue. The Revenue has grown by 14.69% in the last year.
The Revenue has been growing slightly by 6.74% on average over the past years.
EPS 1Y (TTM)15.71%
EPS 3Y-0.63%
EPS 5Y5.13%
EPS Q2Q%16.22%
Revenue 1Y (TTM)14.69%
Revenue growth 3Y2.42%
Revenue growth 5Y6.74%
Sales Q2Q%17.74%

3.2 Future

FFIN is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 9.24% yearly.
FFIN is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 9.47% yearly.
EPS Next Y15.42%
EPS Next 2Y9.24%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year13.22%
Revenue Next 2Y9.47%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

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

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1

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 20.85 indicates a rather expensive valuation of FFIN.
Based on the Price/Earnings ratio, FFIN is valued more expensive than 80.40% of the companies in the same industry.
The average S&P500 Price/Earnings ratio is at 28.92. FFIN is valued slightly cheaper when compared to this.
FFIN is valuated rather expensively with a Price/Forward Earnings ratio of 18.15.
Based on the Price/Forward Earnings ratio, FFIN is valued a bit more expensive than 75.13% of the companies in the same industry.
FFIN is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 21.65, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 20.85
Fwd PE 18.15
FFIN Price Earnings VS Forward Price EarningsFFIN 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, FFIN is valued a bit more expensive than the industry average as 67.09% of the companies are valued more cheaply.
Industry RankSector Rank
P/FCF 16.49
EV/EBITDA N/A
FFIN Per share dataFFIN EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6 8 10

4.3 Compensation for Growth

FFIN's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
PEG (NY)1.35
PEG (5Y)4.07
EPS Next 2Y9.24%
EPS Next 3YN/A

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5

5. Dividend

5.1 Amount

FFIN has a Yearly Dividend Yield of 2.14%.
Compared to an average industry Dividend Yield of 3.63, FFIN is paying slightly less dividend.
Compared to an average S&P500 Dividend Yield of 2.51, FFIN has a dividend comparable with the average S&P500 company.
Industry RankSector Rank
Dividend Yield 2.14%

5.2 History

The dividend of FFIN is nicely growing with an annual growth rate of 9.74%!
FFIN has paid a dividend for at least 10 years, which is a reliable track record.
FFIN has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)9.74%
Div Incr Years14
Div Non Decr Years25
FFIN Yearly Dividends per shareFFIN Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.2 0.4 0.6

5.3 Sustainability

46.04% of the earnings are spent on dividend by FFIN. This is a bit on the high side, but may be sustainable.
FFIN's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP46.04%
EPS Next 2Y9.24%
EPS Next 3YN/A
FFIN Yearly Income VS Free CF VS DividendFFIN 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
FFIN Dividend Payout.FFIN Dividend Payout, showing the Payout Ratio.FFIN Dividend Payout.PayoutRetained Earnings

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FIRST FINL BANKSHARES INC

NASDAQ:FFIN (4/24/2025, 8:08:11 PM)

After market: 33.78 0 (0%)

33.78

+0.19 (+0.57%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)04-17 2025-04-17/amc
Earnings (Next)07-16 2025-07-16/amc
Inst Owners76.74%
Inst Owner Change0.09%
Ins Owners4.12%
Ins Owner Change0.38%
Market Cap4.83B
Analysts48.89
Price Target37.49 (10.98%)
Short Float %5.68%
Short Ratio13.84
Dividend
Industry RankSector Rank
Dividend Yield 2.14%
Yearly Dividend0.72
Dividend Growth(5Y)9.74%
DP46.04%
Div Incr Years14
Div Non Decr Years25
Ex-Date03-14 2025-03-14 (0.18)
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)1.97%
Min EPS beat(2)-1.46%
Max EPS beat(2)5.39%
EPS beat(4)3
Avg EPS beat(4)2.38%
Min EPS beat(4)-1.46%
Max EPS beat(4)5.39%
EPS beat(8)3
Avg EPS beat(8)-1.39%
EPS beat(12)5
Avg EPS beat(12)-0.87%
EPS beat(16)8
Avg EPS beat(16)-0.03%
Revenue beat(2)0
Avg Revenue beat(2)-1.47%
Min Revenue beat(2)-2.66%
Max Revenue beat(2)-0.28%
Revenue beat(4)0
Avg Revenue beat(4)-2.11%
Min Revenue beat(4)-4.34%
Max Revenue beat(4)-0.28%
Revenue beat(8)0
Avg Revenue beat(8)-4.03%
Revenue beat(12)0
Avg Revenue beat(12)-3.81%
Revenue beat(16)1
Avg Revenue beat(16)-3.61%
PT rev (1m)0%
PT rev (3m)-1.21%
EPS NQ rev (1m)0%
EPS NQ rev (3m)9.36%
EPS NY rev (1m)0.28%
EPS NY rev (3m)9.13%
Revenue NQ rev (1m)0.03%
Revenue NQ rev (3m)4%
Revenue NY rev (1m)0.16%
Revenue NY rev (3m)3.84%
Valuation
Industry RankSector Rank
PE 20.85
Fwd PE 18.15
P/S 8.77
P/FCF 16.49
P/OCF 15.6
P/B 3.01
P/tB 4.93
EV/EBITDA N/A
EPS(TTM)1.62
EY4.8%
EPS(NY)1.86
Fwd EY5.51%
FCF(TTM)2.05
FCFY6.06%
OCF(TTM)2.17
OCFY6.41%
SpS3.85
BVpS11.24
TBVpS6.85
PEG (NY)1.35
PEG (5Y)4.07
Profitability
Industry RankSector Rank
ROA 1.6%
ROE 13.91%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 40.58%
GM N/A
FCFM 53.19%
ROA(3y)1.64%
ROA(5y)1.7%
ROE(3y)15.24%
ROE(5y)14.14%
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-2.95%
PM growth 5Y-0.43%
GM growth 3YN/A
GM growth 5YN/A
F-Score8
Asset Turnover0.04
Health
Industry RankSector Rank
Debt/Equity 0.12
Debt/FCF 0.67
Debt/EBITDA N/A
Cap/Depr 124.53%
Cap/Sales 3.04%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality 131.05%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score8
WACC11.79%
ROIC/WACCN/A
Cap/Depr(3y)128.37%
Cap/Depr(5y)132.12%
Cap/Sales(3y)3.17%
Cap/Sales(5y)3.32%
Profit Quality(3y)132.31%
Profit Quality(5y)127.96%
High Growth Momentum
Growth
EPS 1Y (TTM)15.71%
EPS 3Y-0.63%
EPS 5Y5.13%
EPS Q2Q%16.22%
EPS Next Y15.42%
EPS Next 2Y9.24%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)14.69%
Revenue growth 3Y2.42%
Revenue growth 5Y6.74%
Sales Q2Q%17.74%
Revenue Next Year13.22%
Revenue Next 2Y9.47%
Revenue Next 3YN/A
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 1Y9.47%
FCF growth 3Y-4.28%
FCF growth 5Y8.61%
OCF growth 1Y8.71%
OCF growth 3Y-4.29%
OCF growth 5Y8.86%