A Business at a Glance
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FIRST COMMONWEALTH FINANCIAL CORP /PA/
FCF
$2.2B
Mkt Cap
$20.87
+0.53%
FIRST COMMONWEALTH FINANCIAL CORP /PA/ (FCF) has a current P/E ratio of 14.2, compared to its historical median P/E of 11.2. The stock is currently considered Fair based on its historical valuation range.
FIRST COMMONWEALTH FINANCIAL CORP /PA/ (FCF) has a 5-year average return on invested capital (ROIC) of 10.0%. This indicates solid capital allocation.
FIRST COMMONWEALTH FINANCIAL CORP /PA/ (FCF) has a market capitalization of $2.2B. It is classified as a mid-cap stock.
Yes, FIRST COMMONWEALTH FINANCIAL CORP /PA/ (FCF) pays a dividend with a trailing twelve-month yield of 2.57%. The company also returns capital through share buybacks, with a buyback yield of 1.66%.
Based on historical P/E analysis, FIRST COMMONWEALTH FINANCIAL CORP /PA/ (FCF) appears fair. The current P/E of 14.2 is 27% above its historical median of 11.2. The estimated fair value CAGR (P/E method) is 8.3%.
FIRST COMMONWEALTH FINANCIAL CORP /PA/ (FCF) operates in the National Commercial Banks industry, within the Financials sector.
First Commonwealth Financial Corporation (“First Commonwealth,” the “Company” or “we”) is a financial holding company headquartered in Indiana, Pennsylvania. First Commonwealth's operating subsidiaries include First Commonwealth Bank ("FCB" or the "Bank"), First Commonwealth Insurance Agency, Inc. ("FCIA") and FRAMAL. We provide a diversified array of consumer and commercial banking services through our bank subsidiary, FCB. We also provide trust and wealth management services through FCB and offer insurance products through FCIA. At December 31, 2025, we had total assets of $12.3 billion, total loans of $9.8 billion, total deposits of $10.3 billion and shareholders’ equity of $1.6 billion. Our principal executive office is located at 601 Philadelphia Street, Indiana, Pennsylvania 15701, and our telephone number is (724) 349-7220. FCB is a Pennsylvania bank and trust company.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 730M | 730M | 700M | 627M | 429M | 401M |
| Net Income | 152M | 152M | 143M | 157M | 128M | 138M |
| EPS | $1.47 | $1.47 | $1.39 | $1.54 | $1.37 | $1.44 |
| Free Cash Flow | 171M | 171M | 114M | 129M | 140M | 154M |
| ROIC | 8.4% | 8.7% | 9.0% | 11.5% | 10.2% | 10.7% |
| Gross Margin | 66.6% | 66.6% | 64.2% | 74.1% | 91.8% | 96.1% |
| Debt/Equity | 0.26 | 0.26 | 0.24 | 0.60 | 0.53 | 0.29 |
| Dividends/Share | $0.54 | $0.54 | $0.52 | $0.50 | $0.48 | $0.46 |
| Operating Income | 9.6M | 9.6M | 9.1M | 8.1M | 9.2M | 8.2M |
| Operating Margin | 1.3% | 1.3% | 1.3% | 1.3% | 2.1% | 2.0% |
| ROE | 9.8% | 10.3% | 10.5% | 13.3% | 11.9% | 12.7% |
| Shares Outstanding | 104M | 104M | 103M | 102M | 94M | 96M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 263M | 265M | 282M | 331M | 381M | 411M | 396M | 401M | 429M | 627M | 700M | 730M | 730M |
| Gross Margin | 88.7% | 88.5% | 86.9% | 91.9% | 86.2% | 83.0% | 78.2% | 96.1% | 91.8% | 74.1% | 64.2% | 66.6% | 66.6% |
| 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 | 87M | 89M | 87M | 104M | 105M | 112M | 119M | 120M | 126M | 143M | 149M | 164M | 164M |
| EBIT | 7.3M | 7.0M | 6.4M | 7.7M | 6.8M | 7.3M | 7.9M | 8.2M | 9.2M | 8.1M | 9.1M | 9.6M | 9.6M |
| Op. Margin | 2.8% | 2.7% | 2.3% | 2.3% | 1.8% | 1.8% | 2.0% | 2.0% | 2.1% | 1.3% | 1.3% | 1.3% | 1.3% |
| Net Income | 44M | 50M | 60M | 55M | 107M | 105M | 73M | 138M | 128M | 157M | 143M | 152M | 152M |
| Net Margin | 16.9% | 18.9% | 21.1% | 16.7% | 28.2% | 25.6% | 18.6% | 34.5% | 29.9% | 25.1% | 20.4% | 20.9% | 20.9% |
| Non-Recurring | 4.5M | 1.5M | 1.4M | 1.8M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 4.9% | 6.0% | 7.3% | 6.1% | 10.1% | 8.6% | 5.7% | 10.7% | 10.2% | 11.5% | 9.0% | 8.7% | 8.4% |
| ROE | 6.2% | 7.0% | 8.1% | 6.7% | 11.5% | 10.4% | 6.9% | 12.7% | 11.9% | 13.3% | 10.5% | 10.3% | 9.8% |
| ROA | 0.7% | 0.8% | 0.9% | 0.8% | 1.4% | 1.3% | 0.8% | 1.5% | 1.3% | 1.5% | 1.2% | 1.3% | 1.2% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 82M | 73M | 89M | 88M | 135M | 108M | 106M | 165M | 151M | 151M | 129M | 188M | 188M |
| Free Cash Flow | 71M | 68M | 82M | 77M | 126M | 90M | 98M | 154M | 140M | 129M | 114M | 171M | 171M |
| Owner Earnings | 81M | 71M | 89M | 85M | 132M | 104M | 102M | 162M | 148M | 136M | 115M | 173M | 173M |
| CapEx | 11M | 4.9M | 7.5M | 12M | 9.6M | 17M | 7.6M | 11M | 11M | 22M | 16M | 16M | 16M |
| Maint. CapEx | 631K | 605K | 547K | 3.1M | 3.2M | 3.3M | 3.7M | 3.5M | 3.2M | 15M | 14M | 15M | 15M |
| Growth CapEx | 10M | 4.3M | 6.9M | 8.5M | 6.4M | 14M | 3.9M | 7.1M | 8.0M | 7.5M | 1.1M | 1.2M | 1.2M |
| D&A | 631K | 605K | 547K | 3.1M | 3.2M | 3.3M | 3.7M | 3.5M | 3.2M | 15M | 14M | 15M | 15M |
| CapEx/OCF | 13.4% | 6.7% | 7.9% | 13.1% | 7.1% | 16.1% | 7.2% | 6.4% | 7.4% | 14.6% | 12.0% | 8.6% | 8.6% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 26M | 25M | 25M | 31M | 35M | 39M | 43M | 44M | 45M | 51M | 53M | 55M | 55M |
| Dividend Yield | 4.7% | 4.4% | 3.9% | 3.2% | 3.0% | 3.8% | 5.6% | 3.8% | 3.7% | 4.1% | 3.5% | 3.4% | 2.6% |
| Share Buybacks | 31M | 25M | 864K | 1.5M | 26M | 6.3M | 21M | 31M | 16M | 15M | 13M | 36M | 36M |
| Buyback Yield | 5.2% | 4.3% | 0.1% | 0.1% | 2.8% | 0.6% | 2.3% | 2.3% | 1.4% | 1.0% | 0.8% | 2.0% | 1.7% |
| Stock-Based Comp | 909K | 1.4M | 0 | 5K | 10K | 3K | 4K | 11K | 7K | 10K | 10K | 4K | 4K |
| Debt Repayment | 486M | 410M | 639M | 160M | 3.4M | 509M | 84M | 21M | 234M | 52M | 518M | 65M | 65M |
| Balance Sheet | |||||||||||||
| Net Debt | 1.2B | 1.5B | 833M | 688M | 808M | 314M | -6.0M | -1.1B | -363M | -383M | -938M | -785M | 229M |
| Cash & Equiv. | 75M | 69M | 116M | 107M | 99M | 122M | 357M | 395M | 154M | 147M | 133M | 180M | 180M |
| Long-Term Debt | 162M | 81M | 81M | 88M | 185M | 234M | 233M | 182M | 181M | 187M | 263M | 262M | 262M |
| Debt/Equity | 1.77 | 2.21 | 1.27 | 0.90 | 0.93 | 0.41 | 0.33 | 0.29 | 0.53 | 0.60 | 0.24 | 0.26 | 0.26 |
| Interest Coverage | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0 |
| Equity | 716M | 720M | 750M | 888M | 975M | 1.1B | 1.1B | 1.1B | 1.1B | 1.3B | 1.4B | 1.6B | 1.6B |
| Total Assets | 6.4B | 6.6B | 6.7B | 7.3B | 7.8B | 8.3B | 9.1B | 9.5B | 9.8B | 11.5B | 11.6B | 12.3B | 12.3B |
| Total Liabilities | 5.6B | 5.8B | 5.9B | 6.4B | 6.9B | 7.3B | 8.0B | 8.4B | 8.8B | 10.1B | 10.2B | 10.8B | 10.8B |
| Intangibles | 1.7M | 1.2M | 12M | 15M | 13M | 16M | 13M | 11M | 9.2M | 23M | 20M | 22M | 22M |
| Retained Earnings | 353M | 378M | 413M | 437M | 511M | 577M | 597M | 691M | 775M | 881M | 971M | 1.1B | 1.1B |
| 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 | 0.48 | 0.56 | 0.67 | 0.58 | 1.08 | 1.07 | 0.75 | 1.44 | 1.37 | 1.54 | 1.39 | 1.47 | 1.47 |
| Owner EPS | 0.87 | 0.79 | 1.00 | 0.90 | 1.33 | 1.06 | 1.04 | 1.68 | 1.58 | 1.34 | 1.12 | 1.67 | 1.67 |
| Book Value | 7.73 | 8.04 | 8.43 | 9.34 | 9.80 | 10.72 | 10.91 | 11.55 | 11.24 | 12.89 | 13.70 | 15.00 | 15.00 |
| Cash Flow/Share | 0.89 | 0.81 | 1.00 | 0.93 | 1.36 | 1.09 | 1.08 | 1.72 | 1.62 | 1.48 | 1.26 | 1.81 | 1.61 |
| Dividends/Share | 0.28 | 0.28 | 0.28 | 0.32 | 0.35 | 0.40 | 0.44 | 0.46 | 0.48 | 0.50 | 0.52 | 0.54 | 0.54 |
| Shares Out. | 92.6M | 89.5M | 88.9M | 95.1M | 99.5M | 98.4M | 97.9M | 96.0M | 93.6M | 102.0M | 102.6M | 103.6M | 103.6M |
| Valuation | |||||||||||||
| P/E Ratio | 13.4 | 11.7 | 15.6 | 18.9 | 8.6 | 10.8 | 12.2 | 9.7 | 9.0 | 9.5 | 11.7 | 11.5 | 14.2 |
| P/FCF | 8.3 | 8.7 | 11.4 | 13.6 | 7.3 | 12.6 | 9.1 | 8.7 | 8.2 | 11.6 | 14.7 | 10.3 | 12.6 |
| EV/EBIT | 230.6 | 290.6 | 266.2 | 213.8 | 240.8 | 188.4 | 132.5 | 64.8 | 80.0 | 139.7 | 83.8 | 109.5 | 249.0 |
| Price/Book | 0.8 | 0.8 | 1.2 | 1.2 | 0.9 | 1.1 | 0.8 | 1.2 | 1.1 | 1.1 | 1.2 | 1.1 | 1.4 |
| Price/Sales | 2.3 | 2.3 | 2.4 | 3.1 | 3.4 | 2.9 | 2.1 | 3.0 | 2.9 | 2.6 | 3.1 | 3.2 | 3.0 |
| FCF Yield | 12.0% | 11.6% | 8.8% | 7.4% | 13.7% | 7.9% | 11.0% | 11.6% | 12.2% | 8.6% | 6.8% | 9.7% | 7.9% |
| Market Cap | 594M | 587M | 930M | 1.0B | 920M | 1.1B | 895M | 1.3B | 1.2B | 1.5B | 1.7B | 1.8B | 2.2B |
| Avg. Price | 6.02 | 6.43 | 7.12 | 10.10 | 11.53 | 10.53 | 7.83 | 12.00 | 12.82 | 12.21 | 14.52 | 15.91 | 20.87 |
| Year-End Price | 6.41 | 6.56 | 10.45 | 10.97 | 9.24 | 11.56 | 9.14 | 13.92 | 12.33 | 14.63 | 16.33 | 16.98 | 20.87 |
FIRST COMMONWEALTH FINANCIAL CORP /PA/ passes 6 of 9 quality checks, suggesting mixed fundamentals.
FIRST COMMONWEALTH FINANCIAL CORP /PA/ trades at 14.2x trailing earnings, compared to its 15-year median P/E of 11.2x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 12.6x vs a median of 10.8x. The company's 5-year average ROIC is 10.0% with a gross margin of 78.6%. Total shareholder yield (dividends + buybacks) is 4.2%. At current prices, the estimated annualized return to fair value is +4.4%.
FIRST COMMONWEALTH FINANCIAL CORP /PA/ (FCF) reported annual revenue of $730 million in its most recent fiscal year, based on SEC EDGAR filings.
FIRST COMMONWEALTH FINANCIAL CORP /PA/ (FCF) has a net profit margin of 20.9%. This is a strong margin indicating high profitability.
FIRST COMMONWEALTH FINANCIAL CORP /PA/ (FCF) generated $171 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
FIRST COMMONWEALTH FINANCIAL CORP /PA/ (FCF) has a debt-to-equity ratio of 0.26. This indicates a conservatively financed balance sheet.
FIRST COMMONWEALTH FINANCIAL CORP /PA/ (FCF) reported earnings per share (EPS) of $1.47 in its most recent fiscal year.
FIRST COMMONWEALTH FINANCIAL CORP /PA/ (FCF) has a return on equity (ROE) of 10.3%. This indicates moderate shareholder returns.
FIRST COMMONWEALTH FINANCIAL CORP /PA/ (FCF) has a 5-year average gross margin of 78.6%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 16 years of financial data for FIRST COMMONWEALTH FINANCIAL CORP /PA/ (FCF), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
FIRST COMMONWEALTH FINANCIAL CORP /PA/ (FCF) has a book value per share of $15.00, based on its most recent annual SEC filing.
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