Latest Ratios: P/E Ratio 10.0x · EV/EBITDA 6.6x · ROE 10.2%. (2012–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $439M | $413M | $356M | $324M | $271M | $288M | $188M | $214M | $225M | $202M | $123M |
| Enterprise Value | $408M | $382M | $374M | $344M | $278M | $257M | $278M | $294M | $304M | $271M | $176M |
| P/E Ratio → | 10.03 | 9.46 | 8.43 | 15.47 | 7.48 | 8.11 | 9.67 | 16.01 | 12.76 | 28.85 | 19.02 |
| P/S Ratio | 1.78 | 1.67 | 1.55 | 1.87 | 2.41 | 2.91 | 1.96 | 2.43 | 2.95 | 3.79 | 3.07 |
| P/B Ratio | 0.99 | 0.93 | 0.87 | 0.87 | 0.94 | 1.08 | 0.79 | 0.95 | 1.16 | 1.24 | 1.38 |
| P/FCF | 7.00 | 6.59 | 14.39 | 2.31 | 7.76 | 10.32 | 7.77 | 14.26 | 6.41 | 12.54 | 14.11 |
| P/OCF | 6.69 | 6.30 | 12.88 | 2.26 | 7.36 | 10.25 | 7.66 | 13.35 | 6.10 | 12.21 | 13.40 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.55 | 1.63 | 1.98 | 2.48 | 2.60 | 2.91 | 3.33 | 3.99 | 5.08 | 4.41 |
| EV / EBITDA | 6.63 | 6.21 | 6.29 | 11.45 | 5.63 | 5.31 | 9.98 | 14.20 | 13.19 | 17.91 | 17.38 |
| EV / EBIT | 7.12 | 6.67 | 6.79 | 12.66 | 5.81 | 5.49 | 10.72 | 15.45 | 14.05 | 18.79 | 18.53 |
| EV / FCF | — | 6.10 | 15.14 | 2.44 | 7.96 | 9.21 | 11.53 | 19.55 | 8.65 | 16.83 | 20.24 |
Margins and return-on-capital ratios measuring operating efficiency
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 | 55.2% | 55.2% | 56.1% | 55.3% | 84.2% | 90.9% | 69.5% | 66.2% | 72.1% | 73.3% | 69.7% |
| Operating Margin | 23.2% | 23.2% | 24.0% | 15.7% | 42.6% | 47.3% | 27.2% | 21.6% | 28.4% | 27.0% | 23.8% |
| Net Profit Margin | 17.7% | 17.7% | 18.4% | 12.1% | 32.3% | 35.8% | 20.4% | 15.2% | 23.1% | 13.1% | 16.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 10.2% | 10.2% | 10.8% | 6.3% | 13.0% | 14.0% | 8.4% | 6.4% | 9.8% | 5.5% | 8.1% |
| ROA | 1.1% | 1.1% | 1.1% | 0.7% | 1.4% | 1.5% | 0.9% | 0.7% | 1.1% | 0.6% | 0.7% |
| ROIC | 6.1% | 6.1% | 6.4% | 4.0% | 9.0% | 8.5% | 5.0% | 4.3% | 5.5% | 4.8% | 4.9% |
| ROCE | 7.8% | 7.8% | 8.1% | 5.0% | 11.3% | 11.0% | 6.4% | 5.5% | 7.2% | 6.3% | 6.5% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.61 | 0.61 | 0.68 | 0.63 | 0.42 | 0.47 | 0.80 | 0.56 | 0.59 | 0.71 | 0.97 |
| Debt / EBITDA | 4.41 | 4.41 | 4.66 | 7.81 | 2.44 | 2.59 | 6.84 | 6.16 | 5.00 | 7.71 | 8.50 |
| Net Debt / Equity | — | -0.07 | 0.05 | 0.05 | 0.02 | -0.12 | 0.38 | 0.35 | 0.40 | 0.42 | 0.60 |
| Net Debt / EBITDA | -0.51 | -0.51 | 0.31 | 0.64 | 0.14 | -0.64 | 3.26 | 3.84 | 3.42 | 4.57 | 5.27 |
| Debt / FCF | — | -0.50 | 0.75 | 0.14 | 0.20 | -1.11 | 3.76 | 5.29 | 2.24 | 4.29 | 6.14 |
| Interest Coverage | 0.58 | 0.58 | 0.55 | 0.39 | 3.22 | 5.07 | 1.32 | 0.74 | 1.22 | 1.25 | 1.01 |
Net cash position: cash ($302M) exceeds total debt ($271M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.13 | 0.13 | 0.11 | 0.11 | 0.10 | 0.12 | 0.09 | 0.06 | 0.07 | 0.10 | 0.09 |
| Quick Ratio | 0.13 | 0.13 | 0.11 | 0.11 | 0.10 | 0.12 | 0.09 | 0.06 | 0.07 | 0.10 | 0.09 |
| Cash Ratio | 0.09 | 0.09 | 0.08 | 0.07 | 0.05 | 0.07 | 0.05 | 0.03 | 0.03 | 0.04 | 0.04 |
| Asset Turnover | — | 0.06 | 0.06 | 0.05 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
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 | 1.4% | 1.4% | 1.7% | 1.6% | 1.7% | 1.0% | 1.3% | 1.1% | 1.0% | 0.5% | — |
| Payout Ratio | 13.7% | 13.7% | 14.3% | 25.5% | 12.9% | 8.3% | 12.3% | 17.1% | 12.5% | 15.8% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 10.0% | 10.6% | 11.9% | 6.5% | 13.4% | 12.3% | 10.3% | 6.2% | 7.8% | 3.5% | 5.3% |
| FCF Yield | 14.3% | 15.2% | 6.9% | 43.4% | 12.9% | 9.7% | 12.9% | 7.0% | 15.6% | 8.0% | 7.1% |
| Buyback Yield | 1.9% | 2.1% | 0.4% | 1.7% | 1.3% | 1.4% | 4.4% | 0.1% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 3.3% | 3.5% | 2.1% | 3.3% | 3.0% | 2.5% | 5.6% | 1.1% | 1.0% | 0.5% | 0.0% |
| Shares Outstanding | — | $25M | $25M | $22M | $20M | $20M | $20M | $19M | $19M | $15M | $11M |
CRE portfolio credit deterioration
Based on recent market data, First Bank trades at a P/B of 0.99, which, as noted in financial filings, suggests the market is pricing the institution at a discount to book value, reflecting investor skepticism regarding the sustainability of its current return on tangible equity profile.
The current P/B multiple indicates that the market does not view FRBA as a premium franchise, likely due to the recent compression in profitability metrics. Investors appear to be discounting the stock to account for the integration risks of the Malvern acquisition and the potential for further credit provisioning in the CRE book.
According to quarterly performance data, the bank's ROE has declined to 1.7% in 2026Q1, a significant contraction from 3.3% in 2024Q1, which indicates that the combination of stagnant NIM and rising credit costs is severely limiting the bank's ability to generate meaningful shareholder returns.
The decomposition of profitability shows that asset utilization is being hampered by the current interest rate environment, while the leverage ratio remains constrained by the need to maintain capital adequacy. This suggests that the bank's core earnings power is currently insufficient to drive significant ROE expansion without a material improvement in net interest margins.
As reported in financial statements, the efficiency ratio deteriorated to 36.0% in 2026Q1 from 29.5% in 2025Q4, suggesting that the bank is currently struggling to manage operating expenses effectively while navigating the post-acquisition integration phase of its recent expansion into the Pennsylvania market.
The stagnation of the NIM at 0.9% indicates that the bank is unable to pass on higher funding costs to its commercial borrowers, which may imply a lack of pricing power in its core NJ/PA markets. This trend warrants close monitoring, as persistent margin compression combined with rising overhead could further erode the bank's operating leverage.
Based on the reported figures, the equity-to-assets ratio has remained stubbornly flat at 0.11 since 2024Q3, which suggests that internal capital generation is barely keeping pace with the bank's risk-weighted asset profile following the recent integration of acquired operations in Pennsylvania.
The lack of growth in the equity-to-assets ratio indicates that the bank's capital position is currently adequate but lacks the flexibility to support aggressive balance sheet expansion. Investors should monitor whether management will need to prioritize capital retention over dividend growth to ensure regulatory compliance in a more challenging credit environment.
As indicated by industry analysis, the P/E ratio is the most commonly misapplied metric for First Bank, as it fails to account for the volatility introduced by CECL-driven provision expenses which can artificially depress earnings and obscure the underlying cash-generating capacity of the lending franchise.
Using P/E to value FRBA ignores the cyclical nature of credit provisioning, which can lead to misleading conclusions about the bank's true profitability. Analysts should instead focus on P/TBV and normalized ROE to better assess the bank's valuation relative to its tangible capital base and long-term earnings potential.
Includes 30+ ratios · 14 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying FRBA stock.
First Bank's current P/E ratio is 10.0x. The historical average is 13.5x. This places it at the 50th percentile of its historical range.
First Bank's current EV/EBITDA is 6.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.0x.
First Bank's return on equity (ROE) is 10.2%. The historical average is 8.6%.
Based on historical data, First Bank is trading at a P/E of 10.0x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
First Bank's current dividend yield is 1.36% with a payout ratio of 13.7%.
First Bank has 55.2% gross margin and 23.2% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
First Bank's Debt/EBITDA ratio is 4.4x, indicating high leverage. A ratio above 4x may signal elevated financial risk.