FCNCA
FIRST CITIZENS BANCSHARES INC /DE/
Financials • CIK: 0000798941
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Market Cap
$27.91B
P/E (TTM)
13.0x
Rev Growth (TTM)
-2.2%
Net Margin (TTM)
22.5%
FCF Yield (TTM)
7.9%
FCF Margin (TTM)
23.2%
Cash Flow Health
Free Cash Flow7/8 positive
TTM$2.2B
Q4 '25
$807M+19%
Q3 '25
$678M-8%
FCF Margin
TTM23.2%
Q4 '2533.1%+19%
Sector: 22.2%Above Avg
OCF Margin30.6%
OCF/NI1.36x
CapEx Coverage4.1x
FCF Yield7.9%
FCF Growth (2Y)-6%
Cash Conversion Cycle
0 days
DSO: 0+DIO: 0−DPO: 0
Capital Allocation & Returns
Shareholder Friendly
Total Shareholder YieldTTM
TTM11.2%
Div Yield0.4%
+Buyback (TTM)10.8%
Strong capital returns to shareholders
Dividend & Payout Metrics
Dividend Yield (TTM)0.4%
FCF Payout Ratio4.7%
Free Cash Flow (TTM)$2.2B
Stock Repurchases (TTM)$3.0B
Capital Return / FCF144.1%
Est. Dividends Paid (TTM)$103.4M
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)
2.62x
D/E: 1.62x
Asset & CapEx Efficiency
Fixed Asset Turn
4.40x
8Q:4.70x
-619.4%
CapEx/Depreciation
1.75x
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 | $9.5B | $2.4B↑0.2% | $2.4B↑2.5% | $2.4B↑3.3% | $2.3B↓4.6% | $2.4B↓1.6% | $2.4B↓0.6% | $2.5B↑0.7% | $2.4B |
Operating Income | $3.5B | $865.0M↓8.2% | $942.0M↑7.9% | $873.0M↑8.4% | $805.0M↓9.7% | $891.0M↓10.0% | $990.0M↓7.8% | $1.1B↑0.6% | $1.1B |
Net Income | $2.1B | $566.0M↑2.2% | $554.0M↓1.2% | $561.0M↑19.9% | $468.0M↓31.7% | $685.0M↑9.8% | $624.0M↓9.7% | $691.0M↓3.5% | $716.0M |
Operating Cash Flow | $2.9B | $1.1B↑14.6% | $916.0M↑6.6% | $859.0M↑776.5% | $98.0M↓91.2% | $1.1B↑12.9% | $991.0M↑137.6% | $417.0M↓9.5% | $461.0M |
Free Cash Flow | $2.2B | $807.0M↑19.0% | $678.0M↓7.5% | $733.0M↑14760.0% | $-5.0M↓100.5% | $991.0M↑12.0% | $885.0M↑180.1% | $316.0M↓13.9% | $367.0M |
Total Equity | N/A |
Valuation Analysis
Fair Value
Price-to-EarningsTTM
13.0x
Volatile
8Q: 42.7x+1253%
Valuation Lenses
Earnings
13.0x
vs – sector
Cash Flow
29.4x
EV/FCF vs –
Growth-Adj
–PEG
N/A
Quality-Adj
–P/E per %ROIC
ROIC: –
Shareholder Returns
Dividend
0.4%
Buyback
10.8%
Total Yield
11.2%
Market Cap$27.91B
EV$64.99B
Multi-angle valuation analysis with sector context
Business Quality & Moat
Overall Quality Score
71/100
High Quality
Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)
Returns on Capital
Return on Equity (ROE)Below Avg
9.7%
8Q:–
Return on Invested Capital (ROIC)
–
8Q:–
vs Sector:0.1%
Earnings Quality
Cash Conversion
1.36x
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
Low Quality
Growth Quality Score
45/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%
Growth Rates
Revenue Growth YoY
-2.2%
OpInc Growth YoY
-2.9%
EPS Growth YoY
-12.6%
FCF 3Y CAGR
-5.7%
Growth Quality Analysis
⚠Sustainability Index: 3.0/10 - Growth sustainability concerns
Margin Quality & Sustainability
High Quality
Profitability Cascade
Gross
—
Operating
—
Net
22.5%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
+0.7 pts
FCF: 23.2% | Net: 22.5%
Quality = stability + cash conversion + low dilution
Balance Sheet & Solvency
Leveraged
Net Debt / EBITDA
–Net Debt: $35.21B
Interest Coverage
–
Leverage Metrics
Debt-to-Equity
1.62x
Balance sheet risk & solvency analysis