Fulton Financial Corp. (FULTP) intrinsic value & 10-year financials
Fulton Financial Corp. (FULTP) has a Graham intrinsic value of $43.97 per share. Over the last 10 fiscal years revenue grew 4.4% a year to $276.8M, with an average return on invested capital of 11.0%.
- Graham intrinsic value
- $43.97
- Revenue (FY2025)
- $276.8M
- Revenue growth (10-yr CAGR)
- 4.4%
- ROIC (10-yr avg)
- 11.0%
- Free cash flow (FY2025)
- —
FULTP 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $276.8M | $391.6M | $2.08 | — | — | 11.7% |
| FY2024 | $296.0M | $288.7M | $1.57 | — | — | 9.7% |
| FY2023 | $228.4M | $284.3M | $1.64 | — | — | 10.6% |
| FY2022 | $227.2M | $287.0M | $1.67 | — | — | 19.2% |
| FY2021 | $240.2M | $275.5M | $1.62 | — | — | 19.1% |
| FY2020 | $226.3M | $178.0M | $1.08 | — | — | 8.7% |
| FY2019 | $211.4M | $226.3M | $1.35 | — | — | 8.6% |
| FY2018 | $195.5M | $208.4M | $1.18 | — | — | 8.3% |
| FY2017 | $198.9M | $171.8M | $0.98 | — | — | 7.2% |
| FY2016 | $187.6M | $161.6M | $0.93 | — | — | 7.0% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
FULTON FINANCIAL CORP has demonstrated mature, steady growth, with revenue compounding at 4.4% annually over the past decade.
FULTON FINANCIAL CORP returns on capital have been average, hovering around 11.0% ROIC over the decade.
FULTON FINANCIAL CORP has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, FULTON FINANCIAL CORP is modeled at 8.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $43.97 per share.