FULTFULTON FINANCIAL CORP
National Commercial Banks
- Revenue
- $277M
- 6.5% YoY
- Operating margin
- —
- EBITDA
- —
- Market cap
- $4.5B
- Employees
- 3,400
- $81K revenue each
- Net debt / EBITDA
- —
- $451M net debt
- AI in 10-K
- 0.2
- mentions per 10K words
Takeover score 3 of 13
Fixable underperformance 1 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 cashYes78% of net incomeCash flow under 80% of net income
- Dilutive SBCNo5% of revenueOver 10% of revenue
- Payouts exceed cash flowNo68% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo2% of assetsOver 40% of assets
- Shareholder dissentNo91% lowest supportAny vote under 80% support
Buyer economics 2 of 4
- Low revenue per employeeNo$81K · 54th pctBottom quartile of its SIC industry
- Quiet on AIYes0.2 per 10K words · 13th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedYes$4.5B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo−$1M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $240M | $227M | $228M | $296M | $277M | 6.5% |
| Net income | $275M | $287M | $284M | $289M | $392M | 36% |
| Operating cash flow | $338M | $595M | $363M | $417M | $304M | 27% |
| Stock-based comp | $8M | $14M | $13M | $11M | $13M | 27% |
| Buybacks | $44M | $0 | $77M | $30M | $66M | 118% |
| Dividends | $112M | $116M | $116M | $132M | $141M | 7.2% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $1M · 6
- Net
- −$1M
Pay vs performance
No pay-versus-performance disclosure yet.