FBP

MKT CAP:$4B

First BanCorp.

Market Cap

$4B

Financial Services·Banks - Regional·🇺🇸 United States·NYSE

Financials·Banks - Regional·🇺🇸·NYSE

Stock Price

$23.41+$2.51 (+12.01%)

Apr 24, 2026

Company Details

First BanCorp. operates as a bank holding company for FirstBank Puerto Rico that provides various financial services for retail, commercial, and institutional clients. The company operates through six segments: Commercial and Corporate Bank...

CEO

Aurelio Aleman-Bermudez

IPO Date

Jan 13, 1987

Website

www.1firstbank.com

Key Metrics TTM

Revenue

$1.2B

+3.6% YoY

Net Income

$357M

EPS (Diluted)

$2.25

Free Cash Flow

$440M

Revenue / Share

$7.98

Gross Margin

73.8%

Operating Margin

34.6%

Net Margin

28.6%

FCF Margin

35.3%

P/S

2.9x

P/E

10.2x

Earnings Reports

Q1 2026

Apr 22, 2026

NEW

$318M+3.1%EPS $0.57

FY 2025

Feb 27, 2026

$1.3B+5.3%EPS $2.15

Q4 2025

Feb 27, 2026

$320M+9.8%EPS $0.55

Q3 2025

Nov 7, 2025

$305M+1.0%EPS $0.63

Q2 2025

Aug 7, 2025

$302M+0.6%EPS $0.50

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 22	$239M	$213M	$109M
Q3 22	$248M	$216M	$107M
Q4 22	$243M	$200M	$107M
Q1 23	$272M	$215M	$103M
Q2 23	$282M	$208M	$101M
Q3 23	$295M	$221M	$109M
Q4 23	$275M	$187M	$85M
Q1 24	$299M	$214M	$97M
Q2 24	$300M	$216M	$101M
Q3 24	$302M	$214M	$96M
Q4 24	$292M	$200M	$96M
Q1 25	$309M	$219M	$100M
Q2 25	$302M	$219M	$103M
Q3 25	$305M	$222M	$106M
Q4 25	$320M	$235M	$107M
Q1 26	$318M	$242M	$114M

Valuation

Quarter	P/S	P/E
Q2 22	2.9x	8.6x
Q3 22	2.8x	8.4x
Q4 22	2.5x	7.8x
Q1 23	2.0x	6.9x
Q2 23	2.1x	7.6x
Q3 23	2.1x	7.9x
Q4 23	2.4x	8.9x
Q1 24	2.5x	9.3x
Q2 24	2.6x	9.8x
Q3 24	2.9x	11.4x
Q4 24	2.5x	10.1x
Q1 25	2.6x	10.3x
Q2 25	2.8x	11.1x
Q3 25	2.9x	10.6x
Q4 25	2.7x	9.7x
Q1 26	2.6x	9.1x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$115M	$108M
Q2 22	$105M	$100M
Q3 22	$115M	$112M
Q4 22	$106M	$101M
Q1 23	$115M	$114M
Q2 23	$51M	$37M
Q3 23	$117M	$114M
Q4 23	$79M	$77M
Q1 24	$118M	$114M
Q2 24	$71M	$69M
Q3 24	$118M	$115M
Q4 24	$97M	$95M
Q1 25	$108M	$107M
Q2 25	$95M	$93M
Q3 25	$138M	$135M
Q4 25	$110M	$106M

Capital Expenditures

Quarter	CapEx
Q1 22	$7M
Q2 22	$5M
Q3 22	$4M
Q4 22	$5M
Q1 23	$2M
Q2 23	$15M
Q3 23	$4M
Q4 23	$3M
Q1 24	$4M
Q2 24	$2M
Q3 24	$3M
Q4 24	$2M
Q1 25	$1M
Q2 25	$3M
Q3 25	$3M
Q4 25	$4M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 22	+7.1%	+15.7%
Q3 22	+8.1%	+21.1%
Q4 22	+10.8%	+31.3%
Q1 23	+21.6%	+72.5%
Q2 23	+18.0%	+39.1%
Q3 23	+19.2%	+32.0%
Q4 23	+13.0%	+39.1%
Q1 24	+9.9%	+19.0%
Q2 24	+6.6%	+10.1%
Q3 24	+2.2%	+10.2%
Q4 24	+6.3%	+3.2%
Q1 25	+3.2%	+3.3%
Q2 25	+0.6%	+0.2%
Q3 25	+1.0%	-3.4%
Q4 25	+9.8%	+8.9%
Q1 26	+3.1%	-2.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$1M	0.5%
Q2 22	$1M	0.6%
Q3 22	$1M	0.6%
Q4 22	$1M	0.6%
Q1 23	$2M	0.8%
Q2 23	$2M	0.7%
Q3 23	$2M	0.6%
Q4 23	$2M	0.7%
Q1 24	$3M	1.0%
Q2 24	$2M	0.6%
Q3 24	$2M	0.6%
Q4 24	$2M	0.7%
Q1 25	$4M	1.2%
Q2 25	$2M	0.7%
Q3 25	$2M	0.7%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M
Q2 22	$53M	$4M
Q3 22	$54M	$5M
Q4 22	$49M	$6M
Q1 23	$59M	$4M
Q2 23	$56M	$4M
Q3 23	$59M	$5M
Q4 23	$64M	$7M
Q1 24	$63M	$4M
Q2 24	$60M	$4M
Q3 24	$61M	$4M
Q4 24	$61M	$5M
Q1 25	$64M	$3M
Q2 25	$62M	$3M
Q3 25	$62M	$4M
Q4 25	$85M	—
Q1 26	$87M	—

Revenue Segments

Quarter	Commercial And Corporate Segment	Consumer Retail Banking Segment	Mortgage Banking	Treasury And Investments Segment	United States Operations Segment	Virgin Islands Operations Segment	Commercial And Corporate Banking Segment
Q2 22	$36M	$122M	$31M	$11M	$19M	$8M	—
Q3 22	—	$138M	$28M	$15M	$22M	$8M	$27M
Q4 22	$20M	$151M	$25M	$6M	$24M	$8M	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$1.3B	$5.9B	$7.1B
Q3 22	$553M	$5.5B	$6.0B
Q4 22	$479M	$5.5B	$6.0B
Q1 23	$823M	$5.4B	$6.2B
Q2 23	$1.0B	$5.4B	$6.4B
Q3 23	$584M	$5.2B	$5.8B
Q4 23	$662M	$5.2B	$5.9B
Q1 24	$681M	$5.1B	$5.7B
Q2 24	$582M	$5.0B	$5.5B
Q3 24	$685M	$4.9B	$5.6B
Q4 24	$1.2B	$4.6B	$5.7B
Q1 25	$1.3B	$1.0B	$2.3B
Q2 25	$736M	$1.2B	$2.0B
Q3 25	$899M	$4.1B	$5.0B
Q4 25	$657M	$0	$657M
Q1 26	$549M	$0	$549M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 22	195M	-2.1%	-9.0%
Q3 22	188M	-3.6%	-9.4%
Q4 22	185M	-1.8%	-9.7%
Q1 23	181M	-2.0%	-9.2%
Q2 23	179M	-1.1%	-8.2%
Q3 23	177M	-1.3%	-6.0%
Q4 23	171M	-3.2%	-7.3%
Q1 24	168M	-2.1%	-7.4%
Q2 24	166M	-1.3%	-7.7%
Q3 24	166M	0.0%	-6.5%
Q4 24	166M	0.0%	-3.4%
Q1 25	166M	0.0%	-1.3%
Q2 25	162M	-2.4%	-2.4%
Q3 25	160M	-1.2%	-3.6%
Q4 25	158M	-0.8%	-4.3%
Q1 26	156M	-1.4%	-5.7%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 22	$87.7K	3K
Q3 22	$91.0K	3K
Q4 22	$87.6K	3K
Q1 23	$98.2K	3K
Q2 23	$101.5K	3K
Q3 23	$106.5K	3K
Q4 23	$98.2K	3K
Q1 24	$107.0K	3K
Q2 24	$107.3K	3K
Q3 24	$107.8K	3K
Q4 24	$105.4K	3K
Q1 25	$111.6K	3K
Q2 25	$109.2K	3K
Q3 25	$110.1K	3K
Q4 25	$112.3K	3K
Q1 26	$111.6K	3K

Revenue / Employee