FBP FY 2024 Earnings Report — First BanCorp. Revenue & Financial Results | Market Cap Arena

First BanCorp.FBP

FY 2024 Earnings

Reported February 28, 2025

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2024	Prior Q	FY 2023	QoQ Change	YoY Change
Revenue	$1.2B	—	$1.1B	—	6.2%
Op. Income	$391M	—	$397M	—	-1.6%
Gross Margin	70.7%	—	73.9%	—	-3.2pp
Net Margin	25.0%	—	27.0%	—	-1.9pp
EPS (Diluted)	$1.81	—	$1.71	—	5.8%
Free Cash Flow	$394M	—	$340M	—	15.8%

Revenue Flow

Item	Amount
REVENUE	$1.2B
Cost of Revenue	$349M
GROSS PROFIT	$844M
R&D Expenses	$0
Selling & Marketing	$18M
General & Administrative	$245M
SG&A Expenses	$263M
Other Expenses	$190M
Operating Expenses	$453M
Cost & Expenses	$802M
OPERATING INCOME	$391M
Interest Income	$1.1B
Interest Expense	$288M
Other Income/Expenses	$0
INCOME BEFORE TAX	$391M
Income Tax Expense	$92M
Net Income from Continuing Ops	$299M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$299M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$299M
D&A	$25M
EBIT	$391M
EBITDA	$416M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$1.2B
Cost of Revenue	$349M
GROSS PROFIT	$844M
R&D Expenses	$0
Selling & Marketing	$18M
General & Administrative	$245M
SG&A Expenses	$263M
Other Expenses	$190M
Operating Expenses	$453M
Cost & Expenses	$802M
OPERATING INCOME	$391M
Interest Income	$1.1B
Interest Expense	$288M
Other Income/Expenses	$0
INCOME BEFORE TAX	$391M
Income Tax Expense	$92M
Net Income from Continuing Ops	$299M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$299M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$299M
D&A	$25M
EBIT	$391M
EBITDA	$416M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$299M
Depreciation & Amortization	$25M
Stock-Based Compensation	$9M
Deferred Income Tax	$14M
Other Non-Cash Items	$57M
Change in Working Capital	$266.0K
OPERATING CASH FLOW	$404M
Capital Expenditure	-$10M
Acquisitions (Net)	$0
Purchases of Investments	-$269M
Sales/Maturities of Investments	$1.0B
Other Investing Activities	-$621M
NET CASH FROM INVESTING	$136M
Net Debt Issuance	-$97M
Common Stock Repurchased	-$102M
Common Dividends Paid	-$106M
Other Financing Activities	$261M
NET CASH FROM FINANCING	-$44M
FREE CASH FLOW	$394M
Net Change in Cash	$496M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.2B
Short-Term Investments	$4.6B
Net Receivables	$72M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$5.8B
PP&E (Net)	$133M
Goodwill	$39M
Intangible Assets	$7M
Long-Term Investments	$12.9B
Tax Assets	$136M
Other Non-Current Assets	$294M
TOTAL NON-CURRENT ASSETS	$13.5B
TOTAL ASSETS	$19.3B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$16.9B
TOTAL CURRENT LIABILITIES	$16.9B
Long-Term Debt	$562M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$191M
TOTAL NON-CURRENT LIABILITIES	$752M
TOTAL LIABILITIES	$17.6B
Common Stock	$22M
Additional Paid-In Capital	$965M
Retained Earnings	$1.8B
Treasury Stock	-$790M
Accum. Other Comp. Income	-$336M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.7B
Minority Interest	$0
TOTAL EQUITY	$1.7B
TOTAL LIABILITIES & EQUITY	$19.3B
Total Debt	$562M
Net Debt	-$597M