First Financial Corporation (THFF) Financial Ratios
30 years of historical data (1996–2025) · Financial Services · Banks - Regional
EV/EBITDA
↑
11.74
↑+81% vs avg
5yr avg: 6.47
30Y Low0.0·High25.3
P/FCF
↓
10.69
↑+22% vs avg
5yr avg: 8.75
30Y Low6.5·High41.8
P/B Ratio
↑
1.41
↑+34% vs avg
5yr avg: 1.06
30Y Low0.9·High2.4
ROE
↑
13.2%
↓+17% vs avg
5yr avg: 11.3%
30Y Low7%·High13%
Debt/EBITDA
↑
4.43
↑+80% vs avg
5yr avg: 2.47
30Y Low0.9·High15.2
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
THFF Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
First Financial Corporation trades at 11.6x earnings, 20% above its 5-year average of 9.6x, sitting at the 30th percentile of its historical range. Compared to the Financial Services sector median P/E of 14.2x, the stock trades at a discount of 18%. On a free-cash-flow basis, the stock trades at 10.7x P/FCF, 22% above the 5-year average of 8.7x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $924M | $716M | $546M | $514M | $563M | $597M | $533M | $588M | $492M | $554M | $650M |
| Enterprise Value | $1.3B | $1.1B | $667M | $613M | $421M | $25M | $3M | $572M | $487M | $596M | $737M |
| P/E Ratio → | 11.63 | 9.04 | 11.55 | 8.47 | 7.92 | 11.27 | 9.89 | 12.03 | 10.57 | 19.05 | 16.92 |
| P/S Ratio | 2.83 | 2.19 | 1.77 | 1.89 | 2.45 | 3.07 | 2.63 | 3.14 | 2.99 | 3.69 | 4.16 |
| P/B Ratio | 1.41 | 1.10 | 0.99 | 0.97 | 1.18 | 1.03 | 0.89 | 1.05 | 1.11 | 1.34 | 1.57 |
| P/FCF | 10.69 | 8.29 | 10.06 | 6.46 | 7.27 | 11.66 | 7.25 | 12.05 | 8.88 | 11.76 | 17.05 |
| P/OCF | 10.22 | 7.92 | 9.04 | 5.97 | 7.14 | 10.85 | 6.88 | 11.79 | 8.57 | 11.06 | 15.79 |
P/E links to full P/E history page with 30-year chart
THFF EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
First Financial Corporation's enterprise value stands at 11.7x EBITDA, 81% above its 5-year average of 6.5x. This is roughly in line with the Financial Services sector median of 11.2x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.27 | 2.17 | 2.26 | 1.83 | 0.13 | 0.02 | 3.05 | 2.96 | 3.97 | 4.72 |
| EV / EBITDA | 11.74 | 9.83 | 9.94 | 7.75 | 4.48 | 0.35 | 0.04 | 8.69 | 7.87 | 10.99 | 11.66 |
| EV / EBIT | 12.82 | 10.73 | 11.67 | 8.45 | 4.79 | 0.38 | 0.05 | 9.37 | 8.44 | 11.97 | 12.65 |
| EV / FCF | — | 12.34 | 12.30 | 7.70 | 5.44 | 0.49 | 0.04 | 11.72 | 8.79 | 12.63 | 19.33 |
THFF Profitability
Margins and return-on-capital ratios measuring operating efficiency
First Financial Corporation earns an operating margin of 30.4%, above the Financial Services sector average of 20.0%. Operating margins have expanded from 26.7% to 30.4% over the past 3 years, signaling improving operational efficiency. ROE of 13.2% is modest. ROIC of 7.9% represents adequate returns on invested capital versus a sector median of 5.3%.
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 | 77.7% | 77.7% | 65.6% | 74.8% | 92.9% | 94.2% | 87.8% | 88.2% | 90.6% | 92.3% | 95.1% |
| Operating Margin | 30.4% | 30.4% | 18.6% | 26.7% | 38.2% | 33.8% | 32.3% | 32.5% | 35.1% | 33.1% | 37.3% |
| Net Profit Margin | 24.3% | 24.3% | 15.4% | 22.4% | 30.9% | 27.3% | 26.5% | 26.1% | 28.3% | 19.4% | 24.6% |
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 | 13.2% | 13.2% | 8.8% | 12.1% | 13.4% | 9.0% | 9.3% | 9.8% | 10.9% | 7.0% | 9.3% |
| ROA | 1.4% | 1.4% | 0.9% | 1.2% | 1.4% | 1.1% | 1.3% | 1.4% | 1.6% | 1.0% | 1.3% |
| ROIC | 7.9% | 7.9% | 5.8% | 8.6% | 10.5% | 6.9% | 7.1% | 7.7% | 8.3% | 6.8% | 8.5% |
| ROCE | 12.7% | 12.7% | 8.5% | 11.7% | 14.4% | 9.6% | 9.7% | 10.4% | 12.4% | 12.1% | 12.9% |
THFF Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
First Financial Corporation carries a Debt/EBITDA ratio of 4.4x, which is highly leveraged (6% above the sector average of 4.2x). Net debt stands at $350M ($481M total debt minus $130M cash). 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 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.74 | 0.74 | 0.39 | 0.33 | 0.17 | 0.20 | 0.21 | 0.20 | 0.16 | 0.28 | 0.39 |
| Debt / EBITDA | 4.43 | 4.43 | 3.21 | 2.22 | 0.86 | 1.61 | 1.78 | 1.69 | 1.13 | 2.13 | 2.56 |
| Net Debt / Equity | — | 0.54 | 0.22 | 0.19 | -0.30 | -0.98 | -0.89 | -0.03 | -0.01 | 0.10 | 0.21 |
| Net Debt / EBITDA | 3.23 | 3.23 | 1.81 | 1.25 | -1.51 | -7.98 | -7.40 | -0.25 | -0.08 | 0.76 | 1.38 |
| Debt / FCF | — | 4.05 | 2.24 | 1.25 | -1.84 | -11.17 | -7.21 | -0.33 | -0.09 | 0.88 | 2.28 |
| Interest Coverage | 1.31 | 1.31 | 0.64 | 1.19 | 4.81 | 7.46 | 4.64 | 3.49 | 5.99 | 7.85 | 13.23 |
THFF Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.18x is below 1.0, meaning current liabilities exceed current assets. The current ratio has declined from 0.33x to 0.18x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.18 | 0.18 | 0.17 | 0.33 | 0.35 | 0.46 | 0.44 | 0.32 | 0.35 | 0.35 | 0.36 |
| Quick Ratio | 0.18 | 0.18 | 0.17 | 0.33 | 0.35 | 0.46 | 0.44 | 0.32 | 0.35 | 0.35 | 0.36 |
| Cash Ratio | 0.03 | 0.03 | 0.02 | 0.02 | 0.05 | 0.15 | 0.17 | 0.04 | 0.03 | 0.03 | 0.03 |
| Asset Turnover | — | 0.06 | 0.06 | 0.06 | 0.05 | 0.04 | 0.04 | 0.05 | 0.05 | 0.05 | 0.05 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
THFF Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
First Financial Corporation returns 2.7% to shareholders annually — split between a 2.6% dividend yield and 0.1% buyback yield. The payout ratio of 30.5% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 8.6% (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 | 2.6% | 3.4% | 3.9% | 3.0% | 2.6% | 2.4% | 2.7% | 2.2% | 2.5% | 5.5% | 1.9% |
| Payout Ratio | 30.5% | 30.5% | 44.9% | 25.4% | 20.3% | 26.8% | 26.5% | 25.9% | 26.8% | 104.9% | 32.2% |
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 | 8.6% | 11.1% | 8.7% | 11.8% | 12.6% | 8.9% | 10.1% | 8.3% | 9.5% | 5.2% | 5.9% |
| FCF Yield | 9.4% | 12.1% | 9.9% | 15.5% | 13.7% | 8.6% | 13.8% | 8.3% | 11.3% | 8.5% | 5.9% |
| Buyback Yield | 0.1% | 0.1% | 0.1% | 2.2% | 4.9% | 7.1% | 1.7% | 0.1% | 0.1% | 0.1% | 3.0% |
| Total Shareholder Yield | 2.7% | 3.5% | 4.0% | 5.2% | 7.5% | 9.5% | 4.4% | 2.2% | 2.6% | 5.6% | 4.9% |
| Shares Outstanding | — | $12M | $12M | $12M | $12M | $13M | $14M | $13M | $12M | $12M | $12M |
Peer Comparison
Compare THFF 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 |
|---|---|---|---|---|---|---|---|---|---|
 THFFYou | $924M | 11.6 | 11.7 | 10.7 | 77.7% | 30.4% | 13.2% | 7.9% | 4.4 |
 FFIN | $5B | 19.9 | 12.5 | 16.4 | 71.8% | 37.5% | 14.4% | 12.4% | 0.1 |
 FFBC | $4B | 12.7 | 13.3 | 11.2 | 68.4% | 25.5% | 9.8% | 6.4% | 3.5 |
 FNLC | $400M | 11.6 | 12.6 | 11.6 | 52.3% | 23.6% | 12.8% | 7.2% | 4.3 |
 FBIZ | $532M | 10.5 | 12.6 | 8.7 | 57.3% | 21.6% | 14.4% | 7.0% | 4.3 |
 MVBF | $373M | 14.1 | 5.2 | 176.3 | 71.7% | 13.6% | 8.4% | 7.0% | 2.0 |
 HONE | $522M | 18.3 | 20.8 | 200.7 | 50.9% | 10.9% | 4.7% | 2.3% | 13.3 |
 CZWI | $227M | 16.1 | 18.0 | 21.9 | 54.7% | 7.0% | 7.9% | 2.0% | 5.8 |
 MBWM | $986M | 10.5 | 12.6 | 88.0 | 64.0% | 27.5% | 13.6% | 5.5% | 7.8 |
 MOFG | $1B | -13.9 | — | 16.7 | 29.4% | -40.8% | -11.1% | -9.4% | — |
 HFWA | $1B | 15.1 | 12.5 | 11.7 | 72.4% | 23.2% | 7.6% | 5.2% | 0.5 |
| Financial Services Median | — | 14.2 | 11.2 | 11.4 | 64.0% | 20.0% | 8.9% | 5.3% | 4.2 |
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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THFF — Frequently Asked Questions
Quick answers to the most common questions about buying THFF stock.
What is First Financial Corporation's P/E ratio?
First Financial Corporation's current P/E ratio is 11.6x. The historical average is 14.2x. This places it at the 30th percentile of its historical range.
What is First Financial Corporation's EV/EBITDA?
First Financial Corporation's current EV/EBITDA is 11.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 14.1x.
What is First Financial Corporation's ROE?
First Financial Corporation's return on equity (ROE) is 13.2%. The historical average is 10.1%.
Is THFF stock overvalued?
Based on historical data, First Financial Corporation is trading at a P/E of 11.6x. This is at the 30th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is First Financial Corporation's dividend yield?
First Financial Corporation's current dividend yield is 2.63% with a payout ratio of 30.5%.
What are First Financial Corporation's profit margins?
First Financial Corporation has 77.7% gross margin and 30.4% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does First Financial Corporation have?
First Financial Corporation's Debt/EBITDA ratio is 4.4x, indicating high leverage. A ratio above 4x may signal elevated financial risk.