Latest Ratios: P/E Ratio 10.9x · EV/EBITDA 3.4x · ROE 8.9%. (2019–2025 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 |
|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.1B | $1.1B | $1.1B | $863M | $869M | — | — | — |
| Enterprise Value | $450M | $448M | $623M | $900M | $1.3B | — | — | — |
| P/E Ratio → | 10.85 | 10.66 | 14.89 | 8.33 | 14.70 | — | — | — |
| P/S Ratio | 1.87 | 1.87 | 2.08 | 1.78 | 2.50 | — | — | — |
| P/B Ratio | 0.94 | 0.92 | 1.08 | 0.98 | 1.12 | — | — | — |
| P/FCF | 10.25 | 10.23 | 11.74 | 7.14 | 9.17 | — | — | — |
| P/OCF | 9.56 | 9.54 | 11.12 | 6.90 | 8.97 | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.79 | 1.15 | 1.85 | 3.79 | — | — | — |
| EV / EBITDA | 3.38 | 3.36 | 5.92 | 6.26 | 15.29 | — | — | — |
| EV / EBIT | 3.60 | 3.58 | 6.55 | 6.84 | 17.80 | — | — | — |
| EV / FCF | — | 4.31 | 6.51 | 7.44 | 13.91 | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 69.3% | 69.3% | 64.8% | 71.5% | 87.6% | 94.0% | 85.3% | 84.7% |
| Operating Margin | 22.0% | 22.0% | 17.6% | 27.1% | 21.3% | 18.0% | 19.1% | 9.7% |
| Net Profit Margin | 17.2% | 17.2% | 14.0% | 21.3% | 17.0% | 15.0% | 15.9% | 9.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | 8.9% | 8.9% | 7.9% | 12.5% | 9.1% | 8.5% | 10.4% | 4.8% |
| ROA | 1.2% | 1.2% | 0.9% | 1.4% | 0.9% | 0.8% | 1.0% | 0.5% |
| ROIC | 8.0% | 8.0% | 5.6% | 6.7% | 4.9% | 5.7% | 6.9% | 2.9% |
| ROCE | 9.0% | 9.0% | 7.8% | 13.0% | 8.9% | 7.8% | 2.4% | 0.5% |
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 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.03 | 0.03 | 0.11 | 0.59 | 1.02 | 0.31 | 0.38 | 0.32 |
| Debt / EBITDA | 0.28 | 0.28 | 1.09 | 3.59 | 9.19 | 2.68 | 2.80 | 4.60 |
| Net Debt / Equity | — | -0.53 | -0.48 | 0.04 | 0.58 | -0.97 | -0.04 | -0.01 |
| Net Debt / EBITDA | -4.63 | -4.63 | -4.76 | 0.25 | 5.20 | -8.38 | -0.28 | -0.18 |
| Debt / FCF | — | -5.92 | -5.23 | 0.30 | 4.74 | -4.62 | — | — |
| Interest Coverage | 0.83 | 0.83 | 0.58 | 1.09 | 2.94 | 3.67 | 2.74 | 0.77 |
Net cash position: cash ($653M) exceeds total debt ($37M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.16 | 0.16 | 0.10 | 0.15 | 0.14 | 0.25 | 0.17 | 6.80 |
| Quick Ratio | 0.16 | 0.16 | 0.10 | 0.15 | 0.14 | 0.25 | 0.17 | 6.80 |
| Cash Ratio | 0.09 | 0.09 | 0.09 | 0.07 | 0.05 | 0.13 | 0.05 | 6.80 |
| Asset Turnover | — | 0.07 | 0.07 | 0.06 | 0.05 | 0.05 | 0.06 | 0.05 |
| 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 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 9.2% | 9.4% | 6.7% | 12.0% | 6.8% | — | — | — |
| FCF Yield | 9.8% | 9.8% | 8.5% | 14.0% | 10.9% | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | — | — | — |
| Shares Outstanding | — | $28M | $28M | $25M | $24M | $25M | $25M | $25M |
CRE Concentration and Provisioning
With a P/B ratio of 0.94 as of the most recent quarter, FirstSun trades at a discount to its tangible book value, suggesting that the market remains skeptical of the bank's ability to generate superior returns on equity compared to its regional peers.
The current valuation multiple appears to reflect a 'growth discount' that may overlook the bank's successful geographic pivot into high-growth Sunbelt markets. Investors should monitor whether the bank's ROTCE can sustainably exceed its cost of capital, as current P/B levels imply a market expectation of mediocre long-term profitability.
According to quarterly financial data, FirstSun's ROE has remained constrained within a narrow 1.3% to 2.8% range over the last ten quarters, indicating that the bank's profitability is currently hampered by persistent net interest margin pressures and elevated operating costs associated with its geographic expansion.
The decomposition of profitability suggests that while the bank is successfully scaling its asset base, the lack of operating leverage is preventing a meaningful expansion in ROE. The reliance on non-interest income, which has shown volatility, further complicates the quality of earnings and warrants closer scrutiny of the bank's fee-generating capabilities.
As reported in recent financial statements, FirstSun's efficiency ratio has fluctuated between 37.4% and 50.7% over the past ten quarters, highlighting the significant operational friction the bank faces as it scales its specialized commercial lending infrastructure across disparate geographic markets in the Sunbelt region.
The inability to maintain a sub-45% efficiency ratio suggests that the bank's investment in talent and digital infrastructure is currently outpacing revenue growth. This trend may indicate that the bank's 'hub-and-spoke' model requires higher fixed costs than initially anticipated, potentially limiting margin expansion in the near term.
Based on the provided figures, FirstSun maintained an equity-to-assets ratio of 0.14 as of 2026Q1, which, when viewed alongside the minimal holding company debt-to-equity ratio of 0.03%, suggests a conservative capital structure that provides a meaningful buffer against potential credit volatility in its commercial loan portfolio.
This robust capital position appears to provide the bank with sufficient flexibility to pursue organic growth or strategic acquisitions, provided regulatory hurdles are cleared. However, the lack of dividend payments suggests that management is prioritizing capital accumulation, which may be a prudent response to the current uncertain credit environment.
The P/E ratio is frequently misapplied to FirstSun, as it fails to account for the volatility inherent in CECL-based provisioning and the bank's strategic decision to retain earnings rather than distribute dividends, which obscures the underlying cash-generating capacity of the core commercial lending franchise.
Investors should prioritize P/TBV and ROTCE over P/E, as the latter is heavily distorted by non-cash provision expenses that do not reflect the bank's actual credit performance. Relying on P/E may lead to an inaccurate assessment of the bank's valuation, particularly during periods of significant credit cycle adjustments.
Includes 30+ ratios · 7 years · Updated daily
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Quick answers to the most common questions about buying FSUN stock.
FirstSun Capital Bancorp's current P/E ratio is 10.9x. The historical average is 12.1x. This places it at the 50th percentile of its historical range.
FirstSun Capital Bancorp's current EV/EBITDA is 3.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 7.7x.
FirstSun Capital Bancorp's return on equity (ROE) is 8.9%. The historical average is 8.9%.
Based on historical data, FirstSun Capital Bancorp is trading at a P/E of 10.9x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
FirstSun Capital Bancorp has 69.3% gross margin and 22.0% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
FirstSun Capital Bancorp's Debt/EBITDA ratio is 0.3x, indicating low leverage. A ratio below 2x is generally considered financially healthy.