First Financial Bancorp. (FFBC) Financial Ratios
30 years of historical data (1996–2025) · Financial Services · Banks - Regional
EV/EBITDA
↑
12.67
↑+34% vs avg
5yr avg: 9.44
30Y Low1.5·High20.7
P/FCF
↑
10.53
↑+27% vs avg
5yr avg: 8.32
30Y Low4.6·High25.2
P/B Ratio
↓
1.10
+9% vs avg
5yr avg: 1.01
30Y Low0.8·High3.5
ROE
↑
9.8%
-3% vs avg
5yr avg: 10.1%
30Y Low7%·High44%
Debt/EBITDA
↑
3.46
↓-9% vs avg
5yr avg: 3.80
30Y Low1.2·High11.6
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
FFBC Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
First Financial Bancorp. trades at 12.0x earnings, 17% above its 5-year average of 10.3x, sitting at the 23rd percentile of its historical range. Compared to the Financial Services sector median P/E of 13.6x, the stock trades at a discount of 12%. On a free-cash-flow basis, the stock trades at 10.5x P/FCF, 27% above the 5-year average of 8.3x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $3.3B | $2.4B | $2.6B | $2.3B | $2.3B | $2.3B | $1.7B | $2.5B | $2.1B | $1.6B | $1.8B |
| Enterprise Value | $4.4B | $3.4B | $2.8B | $2.5B | $3.3B | $2.6B | $2.0B | $4.0B | $3.5B | $2.4B | $2.5B |
| P/E Ratio → | 12.01 | 9.41 | 11.20 | 8.83 | 10.53 | 11.39 | 11.03 | 12.72 | 12.29 | 16.89 | 19.90 |
| P/S Ratio | 2.65 | 1.90 | 2.09 | 2.02 | 2.96 | 3.57 | 2.41 | 3.40 | 3.30 | 4.00 | 4.70 |
| P/B Ratio | 1.10 | 0.87 | 1.05 | 1.00 | 1.12 | 1.03 | 0.75 | 1.12 | 1.02 | 1.76 | 2.04 |
| P/FCF | 10.53 | 7.56 | 10.64 | 4.88 | 12.25 | 6.27 | 18.71 | 15.20 | 8.78 | 14.00 | 13.27 |
| P/OCF | 9.89 | 7.09 | 9.78 | 4.64 | 11.41 | 6.02 | 15.87 | 13.50 | 8.16 | 13.26 | 12.37 |
P/E links to full P/E history page with 30-year chart
FFBC EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
First Financial Bancorp.'s enterprise value stands at 12.7x EBITDA, 34% above its 5-year average of 9.4x. The Financial Services sector median is 11.4x, placing the stock at a 11% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.70 | 2.25 | 2.27 | 4.30 | 3.99 | 2.77 | 5.40 | 5.38 | 5.84 | 6.62 |
| EV / EBITDA | 12.67 | 9.92 | 9.01 | 7.11 | 11.87 | 9.30 | 8.76 | 14.71 | 14.53 | 18.54 | 17.30 |
| EV / EBIT | 13.54 | 10.60 | 10.30 | 7.96 | 13.78 | 10.83 | 10.72 | 16.42 | 16.17 | 20.56 | 19.02 |
| EV / FCF | — | 10.74 | 11.46 | 5.48 | 17.80 | 7.00 | 21.50 | 24.11 | 14.30 | 20.41 | 18.72 |
FFBC Profitability
Margins and return-on-capital ratios measuring operating efficiency
First Financial Bancorp. earns an operating margin of 25.5%, above the Financial Services sector average of 20.3%. Operating margins have compressed from 28.6% to 25.5% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 9.8% is modest. ROIC of 6.4% represents adequate returns on invested capital versus a sector median of 5.5%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 68.4% | 68.4% | 64.3% | 71.5% | 90.0% | 98.0% | 80.5% | 79.2% | 83.5% | 87.0% | 88.4% |
| Operating Margin | 25.5% | 25.5% | 21.9% | 28.6% | 31.2% | 36.8% | 25.8% | 32.9% | 33.3% | 28.4% | 34.8% |
| Net Profit Margin | 20.3% | 20.3% | 18.7% | 22.9% | 28.1% | 31.3% | 21.8% | 26.8% | 26.8% | 23.7% | 23.6% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 9.8% | 9.8% | 9.7% | 11.9% | 10.1% | 9.0% | 6.9% | 9.2% | 11.5% | 10.8% | 10.6% |
| ROA | 1.3% | 1.3% | 1.3% | 1.5% | 1.3% | 1.3% | 1.0% | 1.4% | 1.5% | 1.1% | 1.1% |
| ROIC | 6.4% | 6.4% | 5.7% | 6.6% | 5.5% | 6.3% | 4.1% | 4.8% | 5.8% | 4.8% | 5.4% |
| ROCE | 8.5% | 8.5% | 8.0% | 11.3% | 9.6% | 8.4% | 6.4% | 9.1% | 11.6% | 11.4% | 13.7% |
FFBC Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
First Financial Bancorp. carries a Debt/EBITDA ratio of 3.5x, which is moderately leveraged (19% below the sector average of 4.3x). Net debt stands at $1.0B ($1.2B total debt minus $179M cash). Interest coverage of just 0.9x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.43 | 0.43 | 0.45 | 0.57 | 0.80 | 0.31 | 0.22 | 0.77 | 0.78 | 1.00 | 1.07 |
| Debt / EBITDA | 3.46 | 3.46 | 3.60 | 3.60 | 5.82 | 2.52 | 2.25 | 6.39 | 6.76 | 7.25 | 6.45 |
| Net Debt / Equity | — | 0.36 | 0.08 | 0.12 | 0.51 | 0.12 | 0.11 | 0.66 | 0.64 | 0.81 | 0.84 |
| Net Debt / EBITDA | 2.94 | 2.94 | 0.65 | 0.77 | 3.70 | 0.97 | 1.14 | 5.44 | 5.61 | 5.82 | 5.03 |
| Debt / FCF | — | 3.19 | 0.82 | 0.60 | 5.55 | 0.73 | 2.79 | 8.91 | 5.52 | 6.41 | 5.44 |
| Interest Coverage | 0.89 | 0.89 | 0.69 | 1.16 | 3.67 | 7.75 | 2.69 | 1.97 | 2.35 | 2.35 | 3.93 |
FFBC Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.28x is below 1.0, meaning current liabilities exceed current assets.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.28 | 0.28 | 0.26 | 0.31 | 0.29 | 0.35 | 0.29 | 0.27 | 0.28 | 0.21 | 0.18 |
| Quick Ratio | 0.28 | 0.28 | 0.26 | 0.31 | 0.29 | 0.35 | 0.29 | 0.27 | 0.28 | 0.21 | 0.18 |
| Cash Ratio | 0.01 | 0.01 | 0.06 | 0.07 | 0.04 | 0.03 | 0.02 | 0.02 | 0.02 | 0.02 | 0.03 |
| Asset Turnover | — | 0.06 | 0.07 | 0.06 | 0.05 | 0.04 | 0.04 | 0.05 | 0.05 | 0.05 | 0.04 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
FFBC Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
First Financial Bancorp. returns 3.1% to shareholders annually primarily through dividends. The payout ratio of 37.0% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 8.3% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 3.1% | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | 37.0% | 37.0% | 39.1% | 34.1% | 39.8% | 42.6% | 57.6% | 45.0% | 46.2% | 42.5% | 44.2% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 8.3% | 10.6% | 8.9% | 11.3% | 9.5% | 8.8% | 9.1% | 7.9% | 8.1% | 5.9% | 5.0% |
| FCF Yield | 9.5% | 13.2% | 9.4% | 20.5% | 8.2% | 15.9% | 5.3% | 6.6% | 11.4% | 7.1% | 7.5% |
| Buyback Yield | 0.0% | — | — | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 3.1% | — | — | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $96M | $95M | $95M | $95M | $96M | $98M | $99M | $90M | $62M | $62M |
Peer Comparison
Compare FFBC with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 FFBCYou | $3B | 12.0 | 12.7 | 10.5 | 68.4% | 25.5% | 9.8% | 6.4% | 3.5 |
 ONB | $10B | 14.0 | 15.6 | 15.2 | 63.6% | 23.6% | 9.0% | 4.7% | 7.6 |
 WTFC | $11B | 13.5 | 12.0 | 12.2 | 62.2% | 26.4% | 12.1% | 7.5% | 3.7 |
 IBCP | $704M | 10.5 | 9.5 | 10.0 | 69.6% | 25.8% | 14.3% | 10.2% | 1.4 |
 FBNC | $3B | 22.7 | 15.8 | 12.7 | 70.1% | 26.6% | 7.2% | 6.8% | 0.5 |
 UBSI | $6B | 13.7 | 7.9 | 13.0 | 65.4% | 32.4% | 8.9% | 7.2% | 1.6 |
 HBAN | $27B | 12.3 | 16.3 | 11.8 | 61.7% | 21.5% | 10.0% | 5.1% | 6.9 |
 FHN | $12B | 13.2 | 11.9 | 12.9 | 67.3% | 25.7% | 10.8% | 7.0% | 3.4 |
 BOKF | $8B | 14.5 | 13.9 | 14.0 | 63.7% | 21.4% | 10.1% | 5.2% | 5.8 |
 CBSH | $8B | 13.5 | 13.4 | 13.7 | 80.0% | 34.2% | 15.8% | 8.4% | 3.9 |
 WSFS | $4B | 14.8 | 7.2 | 18.5 | 74.7% | 28.0% | 10.8% | 9.5% | 0.7 |
| Financial Services Median | — | 13.6 | 11.4 | 11.1 | 64.1% | 20.3% | 9.0% | 5.5% | 4.3 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Includes 30+ ratios · 30 years · Updated daily
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FFBC — Frequently Asked Questions
Quick answers to the most common questions about buying FFBC stock.
What is First Financial Bancorp.'s P/E ratio?
First Financial Bancorp.'s current P/E ratio is 12.0x. The historical average is 15.8x. This places it at the 23th percentile of its historical range.
What is First Financial Bancorp.'s EV/EBITDA?
First Financial Bancorp.'s current EV/EBITDA is 12.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 12.9x.
What is First Financial Bancorp.'s ROE?
First Financial Bancorp.'s return on equity (ROE) is 9.8%. The historical average is 11.9%.
Is FFBC stock overvalued?
Based on historical data, First Financial Bancorp. is trading at a P/E of 12.0x. This is at the 23th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is First Financial Bancorp.'s dividend yield?
First Financial Bancorp.'s current dividend yield is 3.09% with a payout ratio of 37.0%.
What are First Financial Bancorp.'s profit margins?
First Financial Bancorp. has 68.4% gross margin and 25.5% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does First Financial Bancorp. have?
First Financial Bancorp.'s Debt/EBITDA ratio is 3.5x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.