First Bancorp /PR/ (FBP) intrinsic value & 10-year financials
First Bancorp /PR/ (FBP) has a Graham intrinsic value of $71.41 per share. At $27.13 on Oct 20, 2026, the stock trades 62% below that value. Over the last 10 fiscal years revenue grew 4.5% a year to $1.0B, with an average return on invested capital of 13.2%.
- Graham intrinsic value
- $71.41
- Share price (Oct 20, 2026)
- $27.13
- Price vs Graham value
- 62% below
- Market cap
- $4.4B
- Revenue (FY2025)
- $1.0B
- Revenue growth (10-yr CAGR)
- 4.5%
- ROIC (10-yr avg)
- 13.2%
- Free cash flow (FY2025)
- $437.5M
FBP 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $1.0B | $344.9M | $2.15 | $437.5M | — | 25.8% |
| FY2024 | $938.2M | $298.7M | $1.81 | $394.1M | — | 23.3% |
| FY2023 | $929.8M | $302.9M | $1.71 | $340.4M | — | 20.2% |
| FY2022 | $918.4M | $305.1M | $1.59 | $420.0M | — | 17.8% |
| FY2021 | $851.1M | $281.0M | $0.00 | $386.4M | — | 12.8% |
| FY2020 | $711.5M | $102.3M | $0.00 | $281.7M | — | 4.5% |
| FY2019 | $657.7M | $167.4M | $0.00 | $271.8M | — | 7.8% |
| FY2018 | $607.7M | $201.6M | $0.00 | $267.8M | — | 10.3% |
| FY2017 | $650.8M | $67.0M | $0.00 | $226.5M | — | 3.7% |
| FY2016 | $673.2M | $93.2M | $0.00 | $189.1M | — | 5.2% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
FIRST BANCORP /PR/ has demonstrated mature, steady growth, with revenue compounding at 4.5% annually over the past decade.
FIRST BANCORP /PR/ returns on capital have been average, hovering around 13.2% ROIC over the decade.
Over the decade, FIRST BANCORP /PR/ shows that management has aggressively returned capital to shareholders by retiring 99.9% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, FIRST BANCORP /PR/ is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $71.41 per share.