First Financial Bankshares, Inc. (FFIN) Financial Ratios
30 years of historical data (1995–2024) · Financial Services · Banks - Regional
EV/EBITDA
↓
14.17
↓-26% vs avg
5yr avg: 19.09
30Y Low2.7·High26.0
P/FCF
↓
15.73
↓-20% vs avg
5yr avg: 19.60
30Y Low6.8·High26.5
P/B Ratio
↑
2.89
↓-16% vs avg
5yr avg: 3.44
30Y Low1.5·High4.1
ROE
↑
14.4%
↓+1% vs avg
5yr avg: 14.3%
30Y Low13%·High16%
Debt/EBITDA
↓
0.69
↓-59% vs avg
5yr avg: 1.70
30Y Low0.0·High5.7
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
FFIN Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
First Financial Bankshares, Inc. trades at 20.8x earnings, 16% below its 5-year average of 24.7x, sitting at the 50th percentile of its historical range. Compared to the Financial Services sector median P/E of 13.1x, the stock trades at a premium of 58%. On a free-cash-flow basis, the stock trades at 15.7x P/FCF, 20% below the 5-year average of 19.6x.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $4.6B | $5.2B | $4.3B | $4.9B | $7.3B | $5.2B | $4.8B | $3.9B | $3.0B | $3.0B | $2.0B |
| Enterprise Value | $4.0B | $4.6B | $4.2B | $5.2B | $7.4B | $4.9B | $4.9B | $4.1B | $2.9B | $3.2B | $2.3B |
| P/E Ratio → | 20.76 | 23.11 | 21.80 | 20.98 | 31.97 | 25.47 | 29.01 | 25.99 | 24.76 | 28.25 | 19.60 |
| P/S Ratio | 6.23 | 6.99 | 6.96 | 8.94 | 14.39 | 10.48 | 11.48 | 10.23 | 9.09 | 9.66 | 6.82 |
| P/B Ratio | 2.89 | 3.21 | 2.89 | 3.89 | 4.14 | 3.07 | 3.90 | 3.72 | 3.24 | 3.57 | 2.44 |
| P/FCF | 15.73 | 17.63 | 16.19 | 15.97 | 21.66 | 26.55 | 24.70 | 23.25 | 16.97 | 21.29 | 21.42 |
| P/OCF | 14.88 | 16.68 | 15.21 | 15.19 | 20.49 | 24.47 | 23.64 | 21.05 | 15.71 | 18.59 | 18.00 |
P/E links to full P/E history page with 30-year chart
FFIN EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
First Financial Bankshares, Inc.'s enterprise value stands at 14.2x EBITDA, 26% below its 5-year average of 19.1x. The Financial Services sector median is 11.5x, placing the stock at a 24% premium on an enterprise-value basis.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 6.22 | 6.75 | 9.50 | 14.67 | 9.87 | 11.72 | 10.80 | 8.96 | 10.28 | 8.02 |
| EV / EBITDA | 14.17 | 16.11 | 16.41 | 17.84 | 26.03 | 19.03 | 23.31 | 21.71 | 18.40 | 21.55 | 16.14 |
| EV / EBIT | 14.87 | 16.94 | 17.26 | 18.65 | 27.28 | 20.04 | 24.68 | 23.24 | 20.01 | 23.38 | 17.50 |
| EV / FCF | — | 15.69 | 15.69 | 16.98 | 22.09 | 25.01 | 25.22 | 24.55 | 16.73 | 22.65 | 25.17 |
FFIN Profitability
Margins and return-on-capital ratios measuring operating efficiency
First Financial Bankshares, Inc. earns an operating margin of 36.8%, significantly above the Financial Services sector average of 21.6%. Operating margins have compressed from 51.0% to 36.8% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 14.4% is modest. ROIC of 11.0% represents solid returns on invested capital versus a sector median of 5.7%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 70.8% | 70.8% | 75.1% | 91.1% | 99.0% | 93.1% | 92.1% | 93.6% | 95.2% | 94.9% | 95.2% |
| Operating Margin | 36.8% | 36.8% | 39.1% | 51.0% | 53.8% | 49.3% | 47.5% | 46.5% | 44.8% | 44.0% | 45.8% |
| Net Profit Margin | 30.2% | 30.2% | 32.0% | 42.5% | 45.0% | 41.1% | 39.5% | 39.3% | 36.6% | 33.9% | 34.9% |
Return on Capital
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 14.4% | 14.4% | 14.4% | 15.5% | 13.2% | 13.9% | 14.5% | 15.2% | 13.7% | 12.8% | 13.5% |
| ROA | 1.7% | 1.7% | 1.5% | 1.8% | 1.9% | 2.1% | 2.1% | 2.0% | 1.7% | 1.6% | 1.6% |
| ROIC | 11.0% | 11.0% | 9.6% | 9.7% | 9.0% | 9.8% | 9.5% | 9.6% | 8.7% | 7.5% | 7.0% |
| ROCE | 16.0% | 16.0% | 16.6% | 17.4% | 14.8% | 15.8% | 16.4% | 17.0% | 15.3% | 12.8% | 17.3% |
FFIN Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
First Financial Bankshares, Inc. carries a Debt/EBITDA ratio of 0.7x, which is very conservative (83% below the sector average of 4.1x). The company holds a net cash position — cash of $763M exceeds total debt of $197M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns. Interest coverage of just 1.3x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.12 | 0.12 | 0.27 | 0.51 | 0.38 | 0.26 | 0.31 | 0.44 | 0.36 | 0.53 | 0.76 |
| Debt / EBITDA | 0.69 | 0.69 | 1.58 | 2.19 | 2.35 | 1.69 | 1.82 | 2.46 | 2.07 | 3.02 | 4.31 |
| Net Debt / Equity | — | -0.35 | -0.09 | 0.25 | 0.08 | -0.18 | 0.08 | 0.21 | -0.05 | 0.23 | 0.43 |
| Net Debt / EBITDA | -1.99 | -1.99 | -0.52 | 1.06 | 0.50 | -1.17 | 0.49 | 1.15 | -0.27 | 1.29 | 2.40 |
| Debt / FCF | — | -1.93 | -0.50 | 1.01 | 0.42 | -1.54 | 0.53 | 1.30 | -0.24 | 1.36 | 3.74 |
| Interest Coverage | 1.34 | 1.34 | 1.69 | 8.93 | 45.01 | 17.02 | 6.58 | 9.41 | 15.85 | 24.94 | 32.25 |
Net cash position: cash ($763M) exceeds total debt ($197M)
FFIN Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.09x is below 1.0, meaning current liabilities exceed current assets. The current ratio has declined from 0.50x to 0.09x over the past 3 years.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.09 | 0.09 | 0.46 | 0.50 | 0.63 | 0.56 | 0.53 | 0.52 | 0.55 | 0.53 | 0.55 |
| Quick Ratio | 0.09 | 0.09 | 0.46 | 0.50 | 0.63 | 0.56 | 0.53 | 0.52 | 0.55 | 0.53 | 0.55 |
| Cash Ratio | 0.06 | 0.06 | 0.05 | 0.03 | 0.05 | 0.08 | 0.04 | 0.04 | 0.06 | 0.04 | 0.05 |
| Asset Turnover | — | 0.05 | 0.05 | 0.04 | 0.04 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.04 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
FFIN Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
First Financial Bankshares, Inc. returns 2.2% to shareholders annually primarily through dividends. A payout ratio of 46.0% is moderate and appears sustainable, balancing shareholder returns with reinvestment capacity. The earnings yield of 4.8% (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 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.2% | 2.0% | 2.3% | 1.9% | 1.1% | 1.4% | 1.3% | 1.4% | 1.6% | 1.5% | 2.0% |
| Payout Ratio | 46.0% | 46.0% | 50.2% | 38.9% | 35.0% | 34.8% | 37.0% | 35.8% | 40.7% | 42.9% | 38.6% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.8% | 4.3% | 4.6% | 4.8% | 3.1% | 3.9% | 3.4% | 3.8% | 4.0% | 3.5% | 5.1% |
| FCF Yield | 6.4% | 5.7% | 6.2% | 6.3% | 4.6% | 3.8% | 4.0% | 4.3% | 5.9% | 4.7% | 4.7% |
| Buyback Yield | 0.0% | 0.0% | 0.1% | 0.2% | 0.0% | 0.2% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 2.2% | 2.0% | 2.4% | 2.0% | 1.1% | 1.5% | 1.3% | 1.4% | 1.6% | 1.5% | 2.0% |
| Shares Outstanding | — | $143M | $143M | $143M | $143M | $143M | $136M | $136M | $133M | $132M | $130M |
Peer Comparison
Compare FFIN 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 |
|---|---|---|---|---|---|---|---|---|---|
 FFINYou | $5B | 20.8 | 14.2 | 15.7 | 70.8% | 36.8% | 14.4% | 11.0% | 0.7 |
 IBOC | $5B | 11.1 | 8.7 | 9.2 | 78.3% | 49.4% | 13.6% | 10.5% | 1.3 |
 BOKF | $10B | 16.4 | 17.2 | 7.2 | 57.1% | 19.8% | 9.8% | 4.1% | 5.8 |
 CVBF | $3B | 13.5 | 13.0 | 12.8 | 79.9% | 43.8% | 9.3% | 6.8% | 3.5 |
 UMBF | $10B | 14.4 | 12.1 | 10.2 | 54.4% | 20.3% | 12.6% | 7.5% | 3.6 |
 SFNC | $3B | -7.2 | — | 6.9 | 5.8% | -84.2% | -11.4% | -9.1% | — |
 TCBI | $4B | 14.8 | 7.3 | 12.8 | 60.6% | 22.2% | 9.4% | 7.0% | 2.0 |
 SBSI | $1B | 14.7 | 16.3 | 13.6 | 55.8% | 19.7% | 8.3% | 3.7% | 8.9 |
 HFBL | $60M | 15.6 | 8.0 | 11.1 | 63.9% | 14.4% | 7.2% | 5.9% | 0.7 |
 FIS | $24B | 63.0 | 7.7 | 10.0 | 36.9% | 16.5% | 2.6% | 6.0% | 1.1 |
 FISV | $30B | 9.0 | 6.6 | 7.0 | 59.4% | 26.9% | 13.0% | 8.1% | 3.3 |
| Financial Services Median | — | 13.1 | 11.5 | 10.6 | 63.6% | 21.6% | 9.4% | 5.7% | 4.1 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
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Start ComparisonFFIN — Frequently Asked Questions
Quick answers to the most common questions about buying FFIN stock.
What is First Financial Bankshares, Inc.'s P/E ratio?
First Financial Bankshares, Inc.'s current P/E ratio is 20.8x. The historical average is 21.6x. This places it at the 50th percentile of its historical range.
What is First Financial Bankshares, Inc.'s EV/EBITDA?
First Financial Bankshares, Inc.'s current EV/EBITDA is 14.2x. 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 Bankshares, Inc.'s ROE?
First Financial Bankshares, Inc.'s return on equity (ROE) is 14.4%. The historical average is 14.5%.
Is FFIN stock overvalued?
Based on historical data, First Financial Bankshares, Inc. is trading at a P/E of 20.8x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is First Financial Bankshares, Inc.'s dividend yield?
First Financial Bankshares, Inc.'s current dividend yield is 2.22% with a payout ratio of 46.0%.
What are First Financial Bankshares, Inc.'s profit margins?
First Financial Bankshares, Inc. has 70.8% gross margin and 36.8% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does First Financial Bankshares, Inc. have?
First Financial Bankshares, Inc.'s Debt/EBITDA ratio is 0.7x, indicating low leverage. A ratio below 2x is generally considered financially healthy.