A Business at a Glance
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In this report, unless the context suggests otherwise, references to the “Company” or “FirstSun” refers to FirstSun Capital Bancorp, a Delaware corporation, and references to “we,” “us,” and “our” refer to the combined business of FirstSun Capital Bancorp and its wholly-owned subsidiaries, including Sunflower Bank, National Association (“Sunflower Bank” or the “Bank”), Sunflower Wealth Advisors LLC, and FEIF Capital Partners, LLC. We are a financial holding company headquartered in Denver, Colorado, providing a full spectrum of deposit, lending, treasury management, wealth management and online banking products and services through our two primary operating subsidiaries—Sunflower Bank, a national banking association headquartered in Dallas, Texas, that operates as Sunflower Bank, N.A. and First National 1870, a division of Sunflower Bank, N.A.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 570M | 570M | 549M | 493M | 356M | 294M |
| Net Income | 98M | 98M | 76M | 104M | 59M | 43M |
| EPS | $3.47 | $3.47 | $2.69 | $4.08 | $2.48 | $2.30 |
| Free Cash Flow | 104M | 104M | 96M | 121M | 95M | 110M |
| ROIC | 8.5% | 8.9% | 7.3% | 11.8% | 7.6% | 8.2% |
| Gross Margin | 70.2% | 70.2% | 67.6% | 75.7% | 87.9% | 94.2% |
| Debt/Equity | 0.00 | 6.36 | 6.78 | 7.98 | 0.01 | 0.04 |
| Dividends/Share | $0.27 | $0.27 | $0.00 | $1.02 | $0.00 | $0.00 |
| Operating Income | 12M | 12M | 9.5M | 8.8M | 6.6M | 7.2M |
| Operating Margin | 2.2% | 2.2% | 1.7% | 1.8% | 1.8% | 2.4% |
| ROE | 8.5% | 8.9% | 7.3% | 11.8% | 7.6% | 8.2% |
| Shares Outstanding | 28M | 28M | 28M | 25M | 24M | 19M |
| Metric | 2020 | 2021 | 2022 | 2023 | |||
|---|---|---|---|---|---|---|---|
| Income Statement | |||||||
| Revenue | 305M | 294M | 356M | 493M | 549M | 570M | 570M |
| Gross Margin | 85.6% | 94.2% | 87.9% | 75.7% | 67.6% | 70.2% | 70.2% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 140M | 152M | 134M | 133M | 155M | 172M | 172M |
| EBIT | 3.1M | 7.2M | 6.6M | 8.8M | 9.5M | 12M | 12M |
| Op. Margin | 1.0% | 2.4% | 1.8% | 1.8% | 1.7% | 2.2% | 2.2% |
| Net Income | 48M | 43M | 59M | 104M | 76M | 98M | 98M |
| Net Margin | 15.6% | 14.7% | 16.6% | 21.0% | 13.8% | 17.2% | 17.2% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||
| ROIC | 9.8% | 8.2% | 7.6% | 11.8% | 7.3% | 8.9% | 8.5% |
| ROE | 9.8% | 8.2% | 7.6% | 11.8% | 7.3% | 8.9% | 8.5% |
| ROA | 1.0% | 0.8% | 0.8% | 1.3% | 0.9% | 1.2% | 1.2% |
| Cash Flow | |||||||
| Op. Cash Flow | -547K | 113M | 97M | 125M | 101M | 111M | 111M |
| Free Cash Flow | -6.7M | 110M | 95M | 121M | 96M | 104M | 104M |
| Owner Earnings | -10M | 103M | 88M | 116M | 91M | 100M | 100M |
| CapEx | 6.2M | 3.5M | 2.2M | 4.3M | 5.4M | 7.5M | 7.5M |
| Maint. CapEx | 7.5M | 7.5M | 8.0M | 7.4M | 7.4M | 8.2M | 8.2M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 7.5M | 7.5M | 8.0M | 7.4M | 7.4M | 8.2M | 8.2M |
| CapEx/OCF | N/A | N/A | 2.3% | 3.4% | 5.4% | N/A | 6.7% |
| Capital Allocation | |||||||
| Dividends Paid | 0 | 0 | 8K | 26M | 0 | 7.6M | 7.6M |
| Dividend Yield | N/A | N/A | 0.0% | 3.4% | N/A | N/A | 0.7% |
| Share Buybacks | 1.6M | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | 0.0% | 0.0% |
| Stock-Based Comp | 2.3M | 3.0M | 1.4M | 2.1M | 2.4M | 3.5M | 3.5M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||
| Net Debt | -385M | -1.3B | -682M | N/A | N/A | N/A | -653M |
| Cash & Equiv. | 202M | 668M | 344M | 479M | 616M | 653M | 653M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt/Equity | 0.04 | 0.04 | 0.01 | 7.98 | 6.78 | 6.36 | 0.00 |
| Interest Coverage | N/A | N/A | N/A | N/A | N/A | N/A | 0.1 |
| Equity | 486M | 524M | 775M | 877M | 1.0B | 1.2B | 1.2B |
| Total Assets | 5.0B | 5.7B | 7.4B | 7.9B | 8.1B | 8.5B | 8.5B |
| Total Liabilities | 4.5B | 5.1B | 6.7B | 7.0B | 7.1B | 7.3B | 7.3B |
| Intangibles | 9.7M | 8.3M | 16M | 11M | 7.4M | 5.0M | 5.0M |
| Retained Earnings | 255M | 299M | 358M | 458M | 533M | 631M | 631M |
| Working Capital | 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 |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Per Share Data | |||||||
| EPS | 2.58 | 2.30 | 2.48 | 4.08 | 2.69 | 3.47 | 3.47 |
| Owner EPS | -0.56 | 5.47 | 3.67 | 4.56 | 3.25 | 3.53 | 3.53 |
| Book Value | 26.34 | 27.92 | 32.46 | 34.57 | 37.04 | 40.86 | 40.86 |
| Cash Flow/Share | -0.03 | 6.03 | 4.06 | 4.93 | 3.60 | 3.95 | 3.76 |
| Dividends/Share | N/A | 0.00 | 0.00 | 1.02 | 0.00 | 0.27 | 0.27 |
| Shares Out. | 18.4M | 18.8M | 23.9M | 25.4M | 28.1M | 28.2M | 28.2M |
| Valuation | |||||||
| P/E Ratio | N/A | N/A | 14.5 | 8.3 | 14.8 | N/A | 11.0 |
| P/FCF | N/A | N/A | 9.0 | 7.1 | 11.7 | N/A | 10.4 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | 34.4 |
| Price/Book | N/A | N/A | 1.1 | 1.0 | 1.1 | N/A | 0.9 |
| Price/Sales | N/A | N/A | N/A | N/A | N/A | N/A | 1.9 |
| FCF Yield | N/A | N/A | 11.1% | 14.0% | 8.6% | N/A | 9.7% |
| Market Cap | N/A | N/A | 856M | 863M | 1.1B | 0 | 1.1B |
| Avg. Price | N/A | N/A | 32.55 | 29.82 | 37.28 | 0.00 | 38.16 |
| Year-End Price | N/A | N/A | 35.85 | 34.00 | 39.70 | 0.00 | 38.16 |
FIRSTSUN CAPITAL BANCORP passes 3 of 9 quality checks, indicating weak fundamentals.
FIRSTSUN CAPITAL BANCORP trades at 12.1x trailing earnings, compared to its 15-year median P/E of 14.5x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 12.1x vs a median of 9.0x. The company's 5-year average ROIC is 8.8% with a gross margin of 79.1%. Total shareholder yield (dividends) is 0.7%. At current prices, the estimated annualized return to fair value is +4.4%.
FIRSTSUN CAPITAL BANCORP (FSUN) has a current P/E ratio of 12.1, compared to its historical median P/E of 14.5. The stock is currently considered Fair based on its historical valuation range.
FIRSTSUN CAPITAL BANCORP (FSUN) has a 5-year average return on invested capital (ROIC) of 8.8%. This is below average and may indicate limited pricing power.
FIRSTSUN CAPITAL BANCORP (FSUN) has a market capitalization of $1.1B. It is classified as a small-cap stock.
Yes, FIRSTSUN CAPITAL BANCORP (FSUN) pays a dividend with a trailing twelve-month yield of 0.71%.
Based on historical P/E analysis, FIRSTSUN CAPITAL BANCORP (FSUN) appears fair. The current P/E of 12.1 is 16% below its historical median of 14.5. The estimated fair value CAGR (P/E method) is 14.4%.
FIRSTSUN CAPITAL BANCORP (FSUN) operates in the National Commercial Banks industry, within the Financials sector.
FIRSTSUN CAPITAL BANCORP (FSUN) reported annual revenue of $570 million in its most recent fiscal year, based on SEC EDGAR filings.
FIRSTSUN CAPITAL BANCORP (FSUN) has a net profit margin of 17.2%. This is a healthy margin.
FIRSTSUN CAPITAL BANCORP (FSUN) generated $104 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
FIRSTSUN CAPITAL BANCORP (FSUN) has a debt-to-equity ratio of 6.36. This indicates higher leverage, which may increase financial risk.
FIRSTSUN CAPITAL BANCORP (FSUN) reported earnings per share (EPS) of $3.47 in its most recent fiscal year.
FIRSTSUN CAPITAL BANCORP (FSUN) has a return on equity (ROE) of 8.9%. This indicates moderate shareholder returns.
FIRSTSUN CAPITAL BANCORP (FSUN) has a 5-year average gross margin of 79.1%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 6 years of financial data for FIRSTSUN CAPITAL BANCORP (FSUN), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
FIRSTSUN CAPITAL BANCORP (FSUN) has a book value per share of $40.86, based on its most recent annual SEC filing.