A Business at a Glance
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FB Financial Corp
FBK
$3.0B
Mkt Cap
$59.10
+1.60%
FB Financial Corp (FBK) has a current P/E ratio of 24.1, compared to its historical median P/E of 14.5. The stock is currently considered Expensive based on its historical valuation range.
FB Financial Corp (FBK) has a 5-year average return on invested capital (ROIC) of 34.9%. This indicates strong capital allocation and a potential competitive advantage.
FB Financial Corp (FBK) has a market capitalization of $3.0B. It is classified as a mid-cap stock.
Yes, FB Financial Corp (FBK) pays a dividend with a trailing twelve-month yield of 1.31%. The company also returns capital through share buybacks, with a buyback yield of 5.52%.
Based on historical P/E analysis, FB Financial Corp (FBK) appears expensive. The current P/E of 24.1 is 67% above its historical median of 14.5. The estimated fair value CAGR (P/E method) is 1.0%.
FB Financial Corp (FBK) operates in the State Commercial Banks industry, within the Financials sector.
FB Financial Corp (FBK) reported annual revenue of $560 million in its most recent fiscal year, based on SEC EDGAR filings.
ITEM - 1. Business In this Annual Report, the terms “we,” “our,” “ours,” “us,” “FB Financial,” and “the Company” refer to FB Financial Corporation, a Tennessee corporation, and our wholly-owned subsidiaries, including our state-chartered consolidated banking subsidiary, “FirstBank” or “the Bank,” unless the context indicates that we refer only to the parent company, FB Financial Corporation. FB Financial Corporation is a bank holding company designated as a financial holding company. We are headquartered in Nashville, Tennessee. Our wholly-owned bank subsidiary is FirstBank which provides a comprehensive suite of commercial and consumer banking services to clients in select markets primarily in Tennessee, Alabama, Kentucky, Georgia, and North Carolina.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 602M | 560M | 456M | 478M | 527M | 576M |
| Net Income | 141M | 123M | 116M | 120M | 125M | 190M |
| EPS | $2.72 | $2.45 | $2.48 | $2.57 | $2.64 | $3.97 |
| Free Cash Flow | 194M | 147M | 132M | 191M | 789M | 49M |
| ROIC | 6.4% | 47.3% | 6.5% | 38.6% | 69.9% | 12.1% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 0.00 | 0.11 | 0.11 | 0.27 | 0.31 | 0.12 |
| Dividends/Share | $0.78 | $0.76 | $0.68 | $0.60 | $0.52 | $0.44 |
| Operating Income | 11M | 456M | 12M | 421M | 229M | 19M |
| Operating Margin | 1.8% | 81.5% | 2.7% | 88.2% | 43.4% | 3.3% |
| ROE | 7.1% | 7.0% | 7.7% | 8.6% | 9.0% | 14.0% |
| Shares Outstanding | 51M | 50M | 47M | 47M | 47M | 48M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 134M | 186M | 256M | 295M | 335M | 361M | 568M | 576M | 527M | 478M | 456M | 560M | 602M |
| Gross Margin | 49.7% | 60.0% | 65.2% | 60.2% | 63.8% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 64M | 84M | 113M | 130M | 137M | 152M | 234M | 248M | 211M | 203M | 184M | 218M | 227M |
| EBIT | 44M | 60M | 72M | 90M | 141M | 166M | 15M | 19M | 229M | 421M | 12M | 456M | 11M |
| Op. Margin | 33.0% | 32.1% | 28.1% | 30.5% | 42.1% | 45.8% | 2.7% | 3.3% | 43.4% | 88.2% | 2.7% | 81.5% | 1.8% |
| Net Income | 32M | 48M | 41M | 52M | 80M | 83M | 64M | 190M | 125M | 120M | 116M | 123M | 141M |
| Net Margin | 24.2% | 25.7% | 15.9% | 17.8% | 23.8% | 23.1% | 11.2% | 33.1% | 23.6% | 25.2% | 25.5% | 21.9% | 23.4% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 28.5% | 24.9% | 16.5% | 13.8% | 16.8% | 86.7% | 4.9% | 12.1% | 69.9% | 38.6% | 6.5% | 47.3% | 6.4% |
| ROE | 16.0% | 21.2% | 14.3% | 11.3% | 12.6% | 11.6% | 6.2% | 14.0% | 9.0% | 8.6% | 7.7% | 7.0% | 7.1% |
| ROA | 2.7% | 1.8% | 1.3% | 1.3% | 1.6% | 1.5% | 0.7% | 1.6% | 1.0% | 0.9% | 0.9% | 0.8% | 0.9% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | -106M | -46M | -245M | 38M | 212M | 64M | -270M | 55M | 800M | 211M | 139M | 156M | 203M |
| Free Cash Flow | -111M | -52M | -250M | 33M | 202M | 57M | -276M | 49M | 789M | 191M | 132M | 147M | 194M |
| Owner Earnings | -109M | -49M | -254M | 27M | 201M | 52M | -288M | 36M | 782M | 190M | 117M | 127M | 173M |
| CapEx | 5.4M | 5.9M | 4.8M | 4.5M | 10M | 6.8M | 5.9M | 6.1M | 11M | 20M | 6.5M | 8.8M | 8.9M |
| Maint. CapEx | 3.1M | 3.3M | 4.0M | 4.3M | 4.3M | 5.2M | 7.5M | 8.4M | 8.0M | 11M | 12M | 12M | 12M |
| Growth CapEx | 2.3M | 2.6M | 789K | 229K | 5.8M | 1.6M | 0 | 0 | 2.6M | 9.0M | 0 | 0 | 0 |
| D&A | 3.1M | 3.3M | 4.0M | 4.3M | 4.3M | 5.2M | 7.5M | 8.4M | 8.0M | 11M | 12M | 12M | 12M |
| CapEx/OCF | N/A | N/A | N/A | 12.1% | 4.8% | 10.7% | N/A | 11.1% | 1.3% | 9.6% | 4.7% | 5.7% | 4.4% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 15M | 25M | 69M | 0 | 6.1M | 10M | 14M | 21M | 25M | 28M | 32M | 38M | 40M |
| Dividend Yield | N/A | N/A | 17.7% | N/A | 0.5% | 1.0% | 1.4% | 1.1% | 1.3% | 2.0% | 1.6% | 1.5% | 1.3% |
| Share Buybacks | 0 | 0 | 0 | 241M | 492M | 0 | 0 | 7.6M | 40M | 4.9M | 13M | 156M | 168M |
| Buyback Yield | 0.0% | N/A | N/A | N/A | 49.8% | N/A | N/A | 0.4% | 2.5% | 0.3% | 0.5% | 5.5% | 5.5% |
| Stock-Based Comp | N/A | N/A | 4.7M | 6.8M | 7.2M | 7.1M | 10M | 10M | 9.9M | 10M | 9.5M | 17M | 18M |
| Debt Repayment | 3.0M | 8.2M | 12M | 30M | 120M | 0 | 436K | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | -47M | -664M | -515M | -513M | -778M | -616M | -2.2B | -1.6B | -613M | -420M | -866M | -943M | -1.2B |
| Cash & Equiv. | 50M | 98M | 136M | 120M | 125M | 233M | 1.3B | 1.8B | 1.0B | 811M | 1.0B | 1.2B | 1.2B |
| Long-Term Debt | 2.1M | 57M | 45M | 143M | N/A | 305M | 238M | 172M | 416M | 391M | 177M | 213M | 213M |
| Debt/Equity | 0.01 | 0.32 | 0.59 | 0.24 | 0.00 | 0.40 | 0.19 | 0.12 | 0.31 | 0.27 | 0.11 | 0.11 | 0.00 |
| Interest Coverage | 4.7 | 6.7 | 7.5 | 5.5 | 4.0 | 2.9 | 0.3 | 0.5 | 3.3 | 1.6 | 0.0 | 1.4 | 521.7 |
| Equity | 215M | 237M | 330M | 597M | 672M | 762M | 1.3B | 1.4B | 1.3B | 1.5B | 1.6B | 1.9B | 2.0B |
| Total Assets | 2.4B | 2.9B | 3.3B | 4.7B | 5.1B | 6.1B | 11.2B | 12.6B | 12.8B | 12.6B | 13.2B | 16.3B | 16.5B |
| Total Liabilities | 2.2B | 2.7B | 2.9B | 4.1B | 4.5B | 5.4B | 9.9B | 11.2B | 11.5B | 11.1B | 11.6B | 14.4B | 14.5B |
| Intangibles | N/A | 6.7M | 4.6M | 15M | 12M | 18M | 22M | 17M | 12M | 8.7M | 5.8M | 31M | 29M |
| Retained Earnings | N/A | 122M | 94M | 147M | 221M | 294M | 318M | 487M | 587M | 678M | 762M | 847M | 893M |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Per Share Data | |||||||||||||
| EPS | 1.89 | 2.79 | 2.10 | 1.86 | 2.55 | 2.65 | 1.67 | 3.97 | 2.64 | 2.57 | 2.48 | 2.45 | 2.72 |
| Owner EPS | -6.33 | -2.86 | -13.14 | 0.94 | 6.41 | 1.64 | -7.55 | 0.76 | 16.57 | 4.05 | 2.51 | 2.53 | 3.37 |
| Book Value | 12.53 | 13.80 | 17.10 | 21.18 | 21.47 | 24.23 | 33.90 | 29.89 | 28.09 | 31.10 | 33.50 | 38.92 | 38.39 |
| Cash Flow/Share | -6.15 | -2.67 | -12.69 | 1.34 | 6.78 | 2.03 | -7.09 | 1.15 | 16.95 | 4.51 | 2.97 | 3.11 | 2.98 |
| Dividends/Share | 0.97 | 1.37 | 4.03 | 396.00 | 0.20 | 0.32 | 0.36 | 0.44 | 0.52 | 0.60 | 0.68 | 0.76 | 0.78 |
| Shares Out. | 17.2M | 17.2M | 19.3M | 28.2M | 31.3M | 31.5M | 38.1M | 47.9M | 47.2M | 46.8M | 46.8M | 50.0M | 51.4M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | 11.3 | 20.9 | 12.3 | 13.6 | 19.4 | 10.4 | 12.9 | 15.3 | 20.5 | 23.1 | 21.7 |
| P/FCF | N/A | N/A | N/A | 33.1 | 4.9 | 19.9 | N/A | 40.4 | 2.0 | 9.6 | 17.9 | 19.3 | 15.6 |
| EV/EBIT | N/A | N/A | 211.3 | 226.9 | 70.3 | 74.2 | 18.6 | 22.4 | N/A | 273.2 | 129.4 | 199.4 | 171.7 |
| Price/Book | N/A | N/A | 1.4 | 1.8 | 1.5 | 1.5 | 1.0 | 1.4 | 1.2 | 1.3 | 1.5 | 1.5 | 1.5 |
| Price/Sales | N/A | N/A | 1.5 | 3.0 | 3.5 | 2.9 | 1.7 | 3.2 | 3.5 | 3.0 | 4.3 | 4.4 | 5.1 |
| FCF Yield | N/A | N/A | -54.5% | 3.0% | 20.5% | 5.0% | -22.3% | 2.5% | 49.3% | 10.4% | 5.6% | 5.2% | 6.4% |
| Market Cap | 0 | N/A | 459M | 1.1B | 987M | 1.1B | 1.2B | 2.0B | 1.6B | 1.8B | 2.4B | 2.8B | 3.0B |
| Avg. Price | 0.00 | N/A | 20.22 | 31.68 | 36.76 | 33.01 | 25.67 | 38.80 | 39.12 | 30.72 | 41.64 | 49.53 | 59.10 |
| Year-End Price | 0.00 | N/A | 23.74 | 38.83 | 31.37 | 36.13 | 32.47 | 41.16 | 33.93 | 39.35 | 50.73 | 56.62 | 59.10 |
FB Financial Corp passes 5 of 9 quality checks, suggesting mixed fundamentals.
FB Financial Corp trades at 24.1x trailing earnings, compared to its 15-year median P/E of 14.5x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 20.8x vs a median of 18.6x. The company's 5-year average ROIC is 34.9%. Total shareholder yield (dividends + buybacks) is 6.8%. At current prices, the estimated annualized return to fair value is -0.8%.
FB Financial Corp (FBK) has a net profit margin of 21.9%. This is a strong margin indicating high profitability.
FB Financial Corp (FBK) generated $147 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
FB Financial Corp (FBK) has a debt-to-equity ratio of 0.11. This indicates a conservatively financed balance sheet.
FB Financial Corp (FBK) reported earnings per share (EPS) of $2.45 in its most recent fiscal year.
FB Financial Corp (FBK) has a return on equity (ROE) of 7.0%. This indicates moderate shareholder returns.
The Ledger Terminal provides 12 years of financial data for FB Financial Corp (FBK), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
FB Financial Corp (FBK) has a book value per share of $38.92, based on its most recent annual SEC filing.
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