FBPFIRST BANCORP /PR/
State Commercial Banks
- Revenue
- $1.0B
- 6.7% YoY
- Operating margin
- —
- EBITDA
- —
- Market cap
- $4.0B
- Employees
- 2,854
- $351K revenue each
- Net debt / EBITDA
- —
- −$1.5B net debt
- AI in 10-K
- 0.1
- mentions per 10K words
Takeover score 2 of 13
Fixable underperformance 0 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo130% of net incomeCash flow under 80% of net income
- Dilutive SBCNo1% of revenueOver 10% of revenue
- Payouts exceed cash flowNo60% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo0% of assetsOver 40% of assets
- Shareholder dissentNo93% lowest supportAny vote under 80% support
Buyer economics 2 of 4
- Low revenue per employeeNo$351K · 76th pctBottom quartile of its SIC industry
- Quiet on AIYes0.1 per 10K words · 8th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedYes$4.0B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo−$2M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $851M | $918M | $930M | $938M | $1.0B | 6.7% |
| Net income | $281M | $305M | $303M | $299M | $345M | 15% |
| Operating cash flow | $400M | $440M | $363M | $404M | $449M | 11% |
| Capex | $13M | $20M | $23M | $10M | $11M | 10% |
| Stock-based comp | $5M | $5M | $8M | $9M | $10M | 16% |
| Buybacks | $217M | $278M | $203M | $102M | $154M | 50% |
| Dividends | $65M | $88M | $100M | $106M | $116M | 9.4% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $2M · 6
- Net
- −$2M
Pay vs performance
No pay-versus-performance disclosure yet.