FCNCA

MKT CAP:$23B

First Citizens BancShares, Inc.

Market Cap

$23B

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

Financials·Banks - Regional·🇺🇸·NASDAQ

Stock Price

$1,976.37-$182.27 (-8.44%)

Apr 23, 2026

Company Details

First Citizens BancShares, Inc. operates as the holding company for First-Citizens Bank & Trust Company that provides retail and commercial banking services to individuals, businesses, and professionals. The company's deposit products inclu...

CEO

Frank Brown Holding Jr.

IPO Date

Oct 22, 1986

Website

www.firstcitizens.com

Key Metrics TTM

Revenue

$14.4B

-1.7% YoY

Net Income

$2.3B

EPS (Diluted)

$173.92

Free Cash Flow

$2.1B

Revenue / Share

$1,211.75

Gross Margin

62.8%

Operating Margin

20.9%

Net Margin

15.6%

FCF Margin

14.3%

P/S

1.6x

P/E

10.0x

Earnings Reports

Q1 2026

Apr 23, 2026

NEW

$3.5B-1.3%EPS $42.63

FY 2025

Feb 24, 2026

$14.5B-3.0%EPS $165.76

Q4 2025

Feb 24, 2026

$3.7B-0.9%EPS $45.81

Q3 2025

Nov 7, 2025

$3.7B-2.4%EPS $43.12

Q2 2025

Aug 8, 2025

$3.6B-2.3%EPS $42.36

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 22	$1.1B	$1.1B	$337M
Q3 22	$1.3B	$1.1B	$408M
Q4 22	$1.4B	$1.1B	$392M
Q1 23	$1.6B	$468M	$9.5B
Q2 23	$3.5B	$2.4B	$896M
Q3 23	$3.7B	$2.4B	$997M
Q4 23	$3.7B	$2.2B	$713M
Q1 24	$3.7B	$2.4B	$1.0B
Q2 24	$3.7B	$2.3B	$979M
Q3 24	$3.8B	$2.3B	$873M
Q4 24	$3.7B	$2.2B	$736M
Q1 25	$3.5B	$2.1B	$651M
Q2 25	$3.6B	$2.3B	$758M
Q3 25	$3.7B	$2.2B	$751M
Q4 25	$3.7B	$2.3B	$811M
Q1 26	$3.5B	$2.3B	$705M

Valuation

Quarter	P/S	P/E
Q2 22	7.1x	29.2x
Q3 22	5.6x	23.4x
Q4 22	4.5x	20.6x
Q1 23	4.1x	2.2x
Q2 23	2.9x	2.1x
Q3 23	2.2x	2.0x
Q4 23	1.8x	2.0x
Q1 24	1.5x	8.4x
Q2 24	1.5x	8.3x
Q3 24	1.5x	8.7x
Q4 24	1.5x	8.1x
Q1 25	1.5x	8.9x
Q2 25	1.5x	9.4x
Q3 25	1.6x	9.7x
Q4 25	1.6x	10.2x
Q1 26	1.6x	10.0x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$577M	$336M
Q2 22	$654M	$517M
Q3 22	$506M	$339M
Q4 22	$1.0B	$639M
Q1 23	-$362M	-$694M
Q2 23	$916M	$534M
Q3 23	$1.2B	$907M
Q4 23	$901M	$485M
Q1 24	$461M	$176M
Q2 24	$417M	$79M
Q3 24	$991M	$520M
Q4 24	$1.1B	$678M
Q1 25	$98M	-$175M
Q2 25	$859M	$518M
Q3 25	$916M	$1.0B
Q4 25	$1.1B	$720M

Capital Expenditures

Quarter	CapEx
Q1 22	$241M
Q2 22	$137M
Q3 22	$167M
Q4 22	$381M
Q1 23	$332M
Q2 23	$382M
Q3 23	$298M
Q4 23	$416M
Q1 24	$285M
Q2 24	$338M
Q3 24	$471M
Q4 24	$441M
Q1 25	$273M
Q2 25	$341M
Q3 25	$92M
Q4 25	$330M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 22	+139.1%	+188.3%
Q3 22	+177.9%	+187.9%
Q4 22	+206.4%	+231.3%
Q1 23	+47.5%	-1005.4%
Q2 23	+204.1%	+219.9%
Q3 23	+182.9%	+200.3%
Q4 23	+155.1%	+182.5%
Q1 24	+129.7%	+134.3%
Q2 24	+6.0%	+4.9%
Q3 24	+2.2%	+7.5%
Q4 24	+0.4%	-0.3%
Q1 25	-4.8%	+6.5%
Q2 25	-2.3%	+5.0%
Q3 25	-2.4%	+1.1%
Q4 25	-0.9%	-3.7%
Q1 26	-1.3%	-3.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$12M	1.1%
Q2 22	$2M	0.2%
Q3 22	$3M	0.2%
Q4 22	$2M	0.1%
Q1 23	$1M	0.1%
Q2 23	$2M	0.1%
Q3 23	$1M	0.0%
Q4 23	$1M	0.0%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$0	0.0%
Q1 25	$0	0.0%
Q2 25	$0	0.0%
Q3 25	$0	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M
Q2 22	$401M	$9M
Q3 22	$410M	$15M
Q4 22	$404M	$21M
Q1 23	$494M	$15M
Q2 23	$853M	$41M
Q3 23	$814M	$22M
Q4 23	$855M	$21M
Q1 24	$830M	$14M
Q2 24	$838M	$18M
Q3 24	$878M	$20M
Q4 24	$889M	$24M
Q1 25	$914M	$32M
Q2 25	$909M	$32M
Q3 25	$922M	$33M
Q4 25	$1.4B	$45M
Q1 26	$1.6B	$30M

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$7.1B	$9.2B	$16.3B
Q3 22	$6.7B	$9.1B	$15.7B
Q4 22	$5.5B	$9.0B	$14.5B
Q1 23	$40.1B	$9.1B	$49.2B
Q2 23	$38.8B	$11.9B	$50.7B
Q3 23	$37.5B	$16.7B	$54.2B
Q4 23	$34.5B	$19.9B	$54.5B
Q1 24	$31.5B	$24.9B	$56.4B
Q2 24	$26.1B	$27.1B	$53.2B
Q3 24	$26.5B	$28.2B	$54.7B
Q4 24	$22.2B	$33.9B	$56.1B
Q1 25	$25.5B	$9.6B	$35.1B
Q2 25	$27.1B	$10.3B	$37.4B
Q3 25	$25.7B	$13.2B	$38.9B
Q4 25	$20.6B	$232M	$20.8B
Q1 26	$24.3B	$353M	$24.6B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 22	16M	+1.6%	+63.4%
Q3 22	16M	-1.9%	+60.2%
Q4 22	15M	-7.1%	+48.8%
Q1 23	15M	-0.5%	-7.9%
Q2 23	15M	-0.0%	-9.3%
Q3 23	15M	+0.0%	-7.6%
Q4 23	15M	+0.0%	-0.5%
Q1 24	15M	-0.0%	-0.0%
Q2 24	15M	-0.0%	-0.0%
Q3 24	14M	-1.1%	-1.1%
Q4 24	14M	-3.1%	-4.2%
Q1 25	14M	-2.5%	-6.6%
Q2 25	13M	-2.5%	-8.9%
Q3 25	13M	-2.9%	-10.6%
Q4 25	12M	-3.8%	-11.2%
Q1 26	12M	-3.5%	-12.2%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 22	$174.8K	7K
Q3 22	$199.0K	7K
Q4 22	$138.9K	10K
Q1 23	$155.4K	10K
Q2 23	$337.1K	10K
Q3 23	$356.9K	10K
Q4 23	$233.9K	16K
Q1 24	$235.6K	16K
Q2 24	$235.9K	16K
Q3 24	$240.7K	16K
Q4 24	$214.6K	17K
Q1 25	$205.0K	17K
Q2 25	$210.7K	17K
Q3 25	$214.9K	17K
Q4 25	$204.5K	18K
Q1 26	$194.6K	18K

Revenue / Employee