A Business at a Glance
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First Citizens BancShares, Inc. (the “Parent Company” and when including all of its subsidiaries on a consolidated basis, “BancShares,” “we,” “us,” or “our”) was incorporated under the laws of Delaware on August 7, 1986, to become the holding company of First-Citizens Bank & Trust Company (“FCB”), its banking subsidiary. FCB opened in 1898 as the Bank of Smithfield in Smithfield, North Carolina, and later changed its name to First-Citizens Bank & Trust Company. BancShares has expanded through de novo branching and acquisitions and as of December 31, 2025, operates an extensive network of branches and offices, predominantly located in the Southeast, Mid-Atlantic, Midwest, and Western United States, providing a broad range of financial services to individuals, businesses and professionals. At December 31, 2025, BancShares had total consolidated assets of $229.70 billion. Throughout its history, the operations of BancShares have been significantly influenced by descendants of Robert P.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 14.5B | 14.5B | 15.0B | 22.5B | 5.5B | 2.0B |
| Net Income | 2.1B | 2.1B | 2.7B | 11.4B | 1.0B | 529M |
| EPS | $165.24 | $165.24 | $189.41 | $784.51 | $67.40 | $53.88 |
| Free Cash Flow | 1.4B | 1.4B | 1.5B | 1.2B | 1.9B | -391M |
| ROIC | 3.8% | 3.7% | 4.6% | 19.5% | 7.4% | 8.9% |
| Gross Margin | 71.9% | 71.9% | 71.3% | 82.8% | 80.0% | 95.0% |
| Debt/Equity | 1.62 | 1.62 | 1.67 | 1.77 | 0.69 | 0.38 |
| Dividends/Share | $12.38 | $7.95 | $6.87 | $3.89 | $2.16 | $1.88 |
| Operating Income | 3.0B | 3.0B | 3.6B | 12.1B | 1.4B | 701M |
| Operating Margin | 20.5% | 20.5% | 24.0% | 53.8% | 24.5% | 35.8% |
| ROE | 9.7% | 9.7% | 12.2% | 53.7% | 10.8% | 11.2% |
| Shares Outstanding | 13M | 13M | 14M | 15M | 16M | 10M |
FIRST CITIZENS BANCSHARES INC /DE/ passes 6 of 9 quality checks, suggesting mixed fundamentals.
FIRST CITIZENS BANCSHARES INC /DE/ trades at 0.1x trailing earnings, compared to its 15-year median P/E of 0.2x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 0.1x vs a median of 0.2x. The company's 5-year average ROIC is 8.8% with a gross margin of 80.2%. Total shareholder yield (dividends + buybacks) is 1159.0%. At current prices, the estimated annualized return to fair value is +49.3%.
FIRST CITIZENS BANCSHARES INC /DE/ (FCNCP) has a current P/E ratio of 0.1, compared to its historical median P/E of 0.2. The stock is currently considered Fair based on its historical valuation range.
FIRST CITIZENS BANCSHARES INC /DE/ (FCNCP) has a 5-year average return on invested capital (ROIC) of 8.8%. This is below average and may indicate limited pricing power.
FIRST CITIZENS BANCSHARES INC /DE/ (FCNCP) has a market capitalization of $275M. It is classified as a small-cap stock.
Yes, FIRST CITIZENS BANCSHARES INC /DE/ (FCNCP) pays a dividend with a trailing twelve-month yield of 58.53%. The company also returns capital through share buybacks, with a buyback yield of 1100.48%.
Based on historical P/E analysis, FIRST CITIZENS BANCSHARES INC /DE/ (FCNCP) appears fair. The current P/E of 0.1 is 28% below its historical median of 0.2. The estimated fair value CAGR (P/E method) is 42.6%.
FIRST CITIZENS BANCSHARES INC /DE/ (FCNCP) operates in the State Commercial Banks industry, within the Financials sector.
FIRST CITIZENS BANCSHARES INC /DE/ (FCNCP) reported annual revenue of $14.5 billion in its most recent fiscal year, based on SEC EDGAR filings.
FIRST CITIZENS BANCSHARES INC /DE/ (FCNCP) has a net profit margin of 14.8%. This is a healthy margin.
FIRST CITIZENS BANCSHARES INC /DE/ (FCNCP) generated $1.4 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
FIRST CITIZENS BANCSHARES INC /DE/ (FCNCP) has a debt-to-equity ratio of 1.62. This indicates higher leverage, which may increase financial risk.
FIRST CITIZENS BANCSHARES INC /DE/ (FCNCP) reported earnings per share (EPS) of $165.24 in its most recent fiscal year.
FIRST CITIZENS BANCSHARES INC /DE/ (FCNCP) has a return on equity (ROE) of 9.7%. This indicates moderate shareholder returns.
FIRST CITIZENS BANCSHARES INC /DE/ (FCNCP) has a 5-year average gross margin of 80.2%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 18 years of financial data for FIRST CITIZENS BANCSHARES INC /DE/ (FCNCP), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
FIRST CITIZENS BANCSHARES INC /DE/ (FCNCP) has a book value per share of $1709.91, based on its most recent annual SEC filing.
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