FFBC
FIRST FINANCIAL BANCORP /OH/
Financials • CIK: 0000708955
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Market Cap
$2.38B
P/E (TTM)
9.3x
Rev Growth (TTM)
+7.6%
Net Margin (TTM)
28.4%
FCF Yield (TTM)
13.3%
FCF Margin (TTM)
35.3%
Cash Flow Health
Free Cash Flow8/8 positive
TTM$317M
Q4 '25
$114M+33%
Q3 '25
$86M+32%
FCF Margin
TTM35.3%
Q4 '2547.8%+30%
Sector: 22.2%Top 25%
OCF Margin37.6%
OCF/NI1.32x
CapEx Coverage16.3x
FCF Yield13.3%
FCF Growth (2Y)+19%
Cash Conversion Cycle
0 days
DSO: 0+DIO: 0−DPO: 0
Capital Allocation & Returns
Balanced
Total Shareholder YieldEst.
Est.3.9%
Div Yield3.9%
+Est. Buyback5.6%
Balancing returns with reinvestment
Dividend & Payout Metrics
Dividend Yield (TTM)3.9%
FCF Payout Ratio29.4%
Free Cash Flow (TTM)$317.1M
Capital Return / FCF29.8%
Est. Dividends Paid (TTM)$93.4M
Estimated: Buyback data estimated from FCF. Actual repurchase data not available for this company.
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
0.05x
8Q: 0.05x
Leverage (1+D/E)
1.24x
D/E: 0.24x
Asset & CapEx Efficiency
Fixed Asset Turn
17.87x
8Q:8.65x
+144.9%
CapEx/Depreciation
0.65x
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 | $899.5M | $238.8M↑2.0% | $234.0M↑3.4% | $226.3M↑13.0% | $200.4M↓10.6% | $224.3M↑11.4% | $201.3M↓6.3% | $214.8M↑10.0% | $195.3M |
Operating Income | $358.9M | $89.2M↓10.5% | $99.7M↑2.1% | $97.7M↑35.1% | $72.3M↓5.3% | $76.3M↑1.1% | $75.5M↓17.2% | $91.2M↑25.2% | $72.9M |
Net Income | $255.6M | $62.4M↓13.3% | $71.9M↑2.8% | $70.0M↑36.5% | $51.3M↓20.9% | $64.9M↑23.7% | $52.5M↓13.7% | $60.8M↑20.0% | $50.7M |
Operating Cash Flow | $337.9M | $122.2M↑36.0% | $89.8M↑28.7% | $69.8M↑24.4% | $56.1M↓24.2% | $74.1M↓15.9% | $88.1M↑29.5% | $68.1M↑113.1% | $31.9M |
Free Cash Flow | $317.1M | $114.1M↑33.0% | $85.8M↑32.3% | $64.8M↑23.8% | $52.4M↓21.9% | $67.1M↓20.6% | $84.4M↑30.4% | $64.8M↑161.1% | $24.8M |
Total Equity | N/A |
Valuation Analysis
Fair Value
Price-to-EarningsTTM
9.3x
Volatile
8Q: 39.3x-454%
Valuation Lenses
Earnings
9.3x
vs – sector
Cash Flow
9.1x
EV/FCF vs –
Growth-Adj
0.9xPEG
Undervalued for growth
Quality-Adj
–P/E per %ROIC
ROIC: –
Shareholder Returns
Dividend
3.9%
Buyback
–
Total Yield
3.9%
Market Cap$2.38B
EV$2.89B
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
9.9%
8Q:–
Return on Invested Capital (ROIC)
–
8Q:–
vs Sector:0.1%
Earnings Quality
Cash Conversion
1.32x
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
67/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%
Growth Rates
Revenue Growth YoY
7.6%
OpInc Growth YoY
16.9%
EPS Growth YoY
10.8%
FCF 3Y CAGR
19.2%
Growth Quality Analysis
✓Efficient Growth: Free cash flow growing faster than revenue
Margin Quality & Sustainability
Moderate
Profitability Cascade
Gross
—
Operating
—
Net
28.4%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
+6.8 pts
FCF: 35.3% | Net: 28.4%
Quality = stability + cash conversion + low dilution
Balance Sheet & Solvency
Solid
Net Debt / EBITDA
–Net Debt: $496.78M
Interest Coverage
–
Leverage Metrics
Debt-to-Equity
0.24x
Balance sheet risk & solvency analysis