FBK
FB Financial Corp
Financials • CIK: 0001649749
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Market Cap
$2.78B
P/E (TTM)
22.7x
Rev Growth (TTM)
+22.9%
Net Margin (TTM)
21.9%
FCF Yield (TTM)
5.3%
FCF Margin (TTM)
26.3%
Cash Flow Health
Free Cash Flow7/8 positive
TTM$147M
Q4 '25
$51M+12%
Q3 '25
$46M-33%
FCF Margin
TTM26.3%
Q4 '2528.7%+9%
Sector: 22.2%Above Avg
OCF Margin27.8%
OCF/NI1.27x
CapEx Coverage17.6x
FCF Yield5.3%
FCF Growth (2Y)-43%
Cash Conversion Cycle
0 days
DSO: 0+DIO: 0−DPO: 0
Capital Allocation & Returns
Shareholder Friendly
Total Shareholder YieldTTM
TTM7.0%
Div Yield1.4%
+Buyback (TTM)5.6%
Strong capital returns to shareholders
Dividend & Payout Metrics
Dividend Yield (TTM)1.4%
FCF Payout Ratio25.7%
Free Cash Flow (TTM)$147.0M
Stock Repurchases (TTM)$155.9M
Capital Return / FCF132.1%
Est. Dividends Paid (TTM)$37.8M
Shows how management rewards shareholders
Operational Efficiency & Returns
Return on Invested CapitalTTM
–
P25MedianP75
(med: 0.1%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
–
Asset Turnover
0.04x
8Q: 0.04x
Leverage (1+D/E)
1.00x
D/E: 0.00x
Asset & CapEx Efficiency
Fixed Asset Turn
3.49x
8Q:3.38x
+98.6%
CapEx/Depreciation
0.73x
Depreciation Rate Trend
⚠ Declining -254.0%
Asset-based ROIC formula
QUARTERLY TRENDS
Last 8 quarters + TTM
| Metric | TTM | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 |
|---|---|---|---|---|---|---|---|---|---|
Revenue | $560.0M | $178.6M↑2.7% | $173.9M↑126.2% | $76.9M↓41.2% | $130.7M↑0.2% | $130.4M↑45.6% | $89.5M↓30.2% | $128.2M↑19.3% | $107.5M |
Operating Income | $181.8M | $71.1M↑11.0% | $64.0M↑1555.6% | $-4.4M↓108.6% | $51.1M↓10.6% | $57.2M↑329.8% | $13.3M↓75.0% | $53.1M↑51.7% | $35.0M |
Net Income | $122.6M | $57.0M↑143.8% | $23.4M↑703.5% | $2.9M↓92.6% | $39.4M↑3.9% | $37.9M↑270.7% | $10.2M↓74.4% | $40.0M↑43.0% | $27.9M |
Operating Cash Flow | $155.9M | $52.8M↑10.7% | $47.7M↓33.5% | $71.8M↑536.2% | $-16.5M↓216.5% | $14.1M↓75.5% | $57.8M↑88.7% | $30.6M↓15.6% | $36.3M |
Free Cash Flow | $147.0M | $51.2M↑12.3% | $45.6M↓33.3% | $68.4M↑477.3% | $-18.1M↓244.3% | $12.6M↓77.8% | $56.7M↑99.6% | $28.4M↓18.1% | $34.6M |
Total Equity | N/A |
Valuation Analysis
Fair Value
Price-to-EarningsTTM
22.7x
Volatile
8Q: 63.2x+16082%
Valuation Lenses
Earnings
22.7x
vs – sector
Cash Flow
11.5x
EV/FCF vs –
Growth-Adj
1.0xPEG
Undervalued for growth
Quality-Adj
–P/E per %ROIC
ROIC: –
Shareholder Returns
Dividend
1.4%
Buyback
5.6%
Total Yield
7.0%
Market Cap$2.78B
EV$1.69B
Multi-angle valuation analysis with sector context
Business Quality & Moat
Overall Quality Score
63/100
High Quality
Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)
Returns on Capital
Return on Equity (ROE)Below Avg
7.1%
8Q:–
Return on Invested Capital (ROIC)
–
8Q:–
vs Sector:0.1%
Earnings Quality
Cash Conversion
1.27x
OCF / Net Income ✓
FCF Consistency
–
Positive quarters
Competitive Moat Indicators
Pricing Power
Gross Margin–
Capital Efficiency
Invested Capital Turnover–
Working Capital
Cash Conversion Cycle0 days
Growth Quality & Momentum
Moderate Growth
Growth Quality Score
60/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%
Growth Rates
Revenue Growth YoY
22.9%
OpInc Growth YoY
24.2%
EPS Growth YoY
-1.2%
FCF 3Y CAGR
-42.9%
Growth Quality Analysis
⚠Working Capital Drag: FCF growth lagging revenue by 65.8%
Margin Quality & Sustainability
Moderate
Profitability Cascade
Gross
—
Operating
—
Net
21.9%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
+4.4 pts
FCF: 26.3% | Net: 21.9%
Quality = stability + cash conversion + low dilution
Balance Sheet & Solvency
Fortress
Net Debt / EBITDA
Net Cash
(0.0x)Net Cash: $1.16B
Interest Coverage
–
+Net cash position: $1.16B
Leverage Metrics
Debt-to-Equity
0.00x
Balance sheet risk & solvency analysis