First BanCorp. Financial Ratios — FBP Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Return on Common Equity (%)	- -	6.04	-38.64	72.55	2.84	11.54	7.26	19.63	13.99	8.03	20.73	20.7	19.13	17.07	17.87
Return on Assets (%)	-0.57	0.23	-1.28	3.09	0.17	0.76	0.55	1.65	1.35	0.65	1.42	1.55	1.61	1.56	1.79
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100
EBITDA Margin (%)	6.26	6.16	6.28	5.12	5.2	4.19	3.98	3.27	3.33	3.83	4.45	3.51	3.15	2.76	2.16
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	-16.97	8	-33.27	18.11	5.5	24.23	11.83	33.5	38.5	17.17	52.35	50.48	44.3	43.22	43.33
Profit Margin (%)	-19.14	6.67	-34.35	77.53	4.22	17.35	12.78	35.43	26.92	15.1	34.39	34.41	33.76	33.01	35.86
Net Income to Common Margin (%)	-23.07	6.67	-34.35	77.53	4.22	17.3	12.27	34.96	26.49	14.7	34.09	34.41	33.76	33.01	35.86
Effective Tax Rate (%)	- -	16.61	- -	- -	23.16	28.43	- -	- -	30.08	12.08	34.31	31.84	23.8	23.64	17.25
Dvd Payout Ratio (%)	-9.57	- -	- -	- -	- -	- -	- -	3.28	18.43	43.59	23.34	28.79	32.91	35.34	33.5
Sustainable Growth Rate (%)	- -	6.04	-38.64	72.55	2.84	11.54	7.26	18.98	11.42	4.53	15.89	14.74	12.83	11.04	11.89

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Debt	646	949	532	557	781	1,256	924	924	754	624	384	859	662	562	290
ST Debt	23	208	- -	- -	100	370	- -	- -	- -	- -	- -	475	- -	- -	90
LT Debt	623	740	532	557	681	886	924	924	754	624	384	384	662	562	200
Total Debt/EBITDA	24.02	34.47	17.7	21.48	29.82	55.72	44.35	49.63	36.47	24.01	10.55	27.61	23.43	22.47	13.97
Net Debt/EBITDA	16.29	7.93	2.57	-8.58	9.37	42.75	10.3	18.54	10.03	-31.17	-59.3	12.22	-0.02	-23.88	-17.73
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	3.64	3.88	2.71	5.8	6.04	7.15	7.48	9.06	9.86	6.59	6.97	8.04	8.83	9.49	10.6
Long-Term Debt/Equity (%)	43.12	49.86	43.75	33.32	40.23	49.61	49.42	45.2	33.85	27.42	18.26	28.95	44.18	33.65	10.17
Long-Term Debt/Capital (%)	52.46	48.72	56.68	41.84	43.21	41.31	49.21	44.64	37.07	32.87	20.93	16.28	28.39	23.48	8.63
Long-Term Debt/Total Assets (%)	4.74	5.65	4.2	4.38	5.42	7.43	7.53	7.55	5.98	3.32	1.85	2.06	3.5	2.91	1.05
Total Debt/Equity (%)	44.74	63.89	43.75	33.32	46.13	70.33	49.42	45.2	33.85	27.42	18.26	64.79	44.18	33.65	14.74
Total Debt/Capital (%)	54.43	62.43	56.68	41.84	49.55	58.56	49.21	44.64	37.07	32.87	20.93	36.44	28.39	23.48	12.51
Total Debt/Total Assets (%)	4.92	7.24	4.2	4.38	6.22	10.54	7.53	7.55	5.98	3.32	1.85	4.61	3.5	2.91	1.52
Net Debt to Equity	30.35	14.7	6.36	-13.31	14.49	53.96	11.48	16.88	9.31	-35.59	-102.62	28.67	-0.04	-35.77	-18.7
Net Debt/Capital (%)	44.75	27.66	15.99	-40.33	23.58	52.02	18.37	23.15	13.95	-174.55	304.97	20.23	-0.03	-48.38	-22.16
EBITDA	27	28	30	26	26	23	21	19	21	26	36	31	28	25	21
EBITDA-CapEx	14	16	18	4	14	12	11	-2	-2	10	23	11	6	15	10
Operating Income (Loss)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Cash Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Current Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Quick Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
CFO/Avg Current Liab	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	3.64	3.88	2.71	5.8	6.04	7.15	7.48	9.06	9.86	6.59	6.97	8.04	8.83	9.49	10.6
Long-Term Debt/Equity (%)	43.12	49.86	43.75	33.32	40.23	49.61	49.42	45.2	33.85	27.42	18.26	28.95	44.18	33.65	10.17
Long-Term Debt/Capital (%)	52.46	48.72	56.68	41.84	43.21	41.31	49.21	44.64	37.07	32.87	20.93	16.28	28.39	23.48	8.63
Long-Term Debt/Total Assets (%)	4.74	5.65	4.2	4.38	5.42	7.43	7.53	7.55	5.98	3.32	1.85	2.06	3.5	2.91	1.05
Total Debt/Equity (%)	44.74	63.89	43.75	33.32	46.13	70.33	49.42	45.2	33.85	27.42	18.26	64.79	44.18	33.65	14.74
Total Debt/Capital (%)	54.43	62.43	56.68	41.84	49.55	58.56	49.21	44.64	37.07	32.87	20.93	36.44	28.39	23.48	12.51
Total Debt/Total Assets (%)	4.92	7.24	4.2	4.38	6.22	10.54	7.53	7.55	5.98	3.32	1.85	4.61	3.5	2.91	1.52
CFO/Total Liabilities	1.34	1.97	2.99	2.39	2.41	1.97	2.27	2.83	2.83	1.8	2.14	2.54	2.08	2.29	2.61
CFO/CapEx	11.73	19.17	28.98	11.87	21.03	19.23	25.06	14.05	13.09	18.53	29.94	21.53	16.06	40.38	40.66
Altman's Z-Score	0.09	0.13	0.14	0.18	0.16	0.23	0.21	0.28	0.32	0.2	0.23	0.24	0.27	0.28	0.31

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Accounts Receivable Turnover	7.88	8.79	9.06	9.66	10.14	11.42	10.21	10.58	12.36	11.32	12.48	13.51	12.17	12.1	13.43
Days Sales Outstanding	46.3	41.53	40.28	37.8	36	31.97	35.76	34.49	29.52	32.25	29.26	27.01	29.99	30.16	27.18
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Market Capitalization	225	941	1,272	1,224	687	1,407	1,091	1,855	2,298	2,000	2,895	2,427	2,903	3,059	3,316
- Cash & Cash Equivalents	208	731	455	779	536	292	709	579	547	1,434	2,541	479	662	1,159	658
+ Preferred Equity and Hybrid Capital	63	63	63	36	36	36	36	36	36	36	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	646	949	532	557	781	1,256	924	924	754	624	384	859	662	562	290
Enterprise Value	-266	346	276	81	-340	857	-206	469	450	-3,139	-5,396	-2,713	-2,328	1,362	1,123
Total Capital	1,187	1,520	938	1,331	1,577	2,145	1,877	2,070	2,034	1,897	1,833	2,357	2,331	2,393	2,318
Total Debt/Capital (%)	54.43	62.43	56.68	41.84	49.55	58.56	49.21	44.64	37.07	32.87	20.93	36.44	28.39	23.48	12.51
Total Debt / EV	-2.43	2.75	1.93	6.89	-2.3	1.47	-4.48	1.97	1.67	-0.2	-0.07	-0.32	-0.28	0.41	0.26
EV/Sales	- -	0.77	0.58	0.16	- -	1.59	- -	0.82	0.72	- -	- -	- -	- -	1.5	1.17
EV/EBITDA	- -	12.55	9.18	3.12	- -	38	- -	25.21	21.78	- -	- -	- -	- -	54.49	54.13
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	1.51	0.81	0.31	- -	4.3	- -	1.63	1.53	- -	- -	- -	- -	3.37	2.5
EV/Free Cash Flow to Firm	- -	1.43	0.78	0.28	- -	4.08	- -	1.52	1.42	- -	- -	- -	- -	3.29	2.44
Diluted Market Cap	313	943	1,272	1,237	692	1,426	1,102	1,863	2,299	2,007	2,912	2,442	3,041	3,072	3,332
Diluted Enterprise Value	814	1,224	1,413	1,050	974	2,426	1,353	2,245	2,543	1,233	755	2,822	3,040	2,475	2,964
EV per Share	- -	1.68	1.34	0.39	- -	4.03	- -	2.18	2.08	- -	- -	- -	- -	8.28	7.02
TTM Sales	430	447	479	506	504	537	524	569	622	677	817	887	897	905	962
TTM EBITDA	27	28	30	26	26	23	21	19	21	26	36	31	28	25	21
TTM Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	157	229	342	264	262	199	236	288	294	298	400	440	363	404	449
TTM Free Cash Flow to Firm	170	241	353	287	274	210	245	309	317	314	413	461	386	414	460

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Price/Free Cash Flow	1.84	3.92	3.6	4.31	2.52	6.8	4.49	6.03	7.26	6.4	7.05	5.3	7.89	7.42	7.25
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	-266	346	276	81	-340	857	-206	469	450	-3,139	-5,396	-2,713	-2,328	1,362	1,123
Low Price	2.5	3.2	4.54	4.36	3.01	2.06	4.48	5.02	8.3	3.5	8.88	11.94	10.18	15.15	16.4
EV/Sales	- -	0.77	0.58	0.16	- -	1.59	- -	0.82	0.72	- -	- -	- -	- -	1.5	1.17
EV/EBITDA	- -	12.55	9.18	3.12	- -	38	- -	25.21	21.78	- -	- -	- -	- -	54.49	54.13
Price/Earnings	- -	31.58	- -	3.12	32.27	15.13	16.98	9.33	13.95	20.08	10.39	7.96	9.59	10.24	9.62
Price/Earnings Average	-2.72	27.41	-7.67	2.78	49.8	9.72	18.84	8.33	13.79	14.59	9.24	8.92	7.79	10.29	9.44
Price/Earnings High	-4.97	34.41	-10.87	3.3	67.12	16.13	23.37	10.5	15.73	23.24	11.25	10.39	9.99	12.34	10.49
Price/Earnings Low	-1.63	22.07	-5.67	2.32	29.89	4.71	14.91	5.44	10.93	7.62	6.7	7.47	5.93	8.35	7.61
Price/Book Value	0.47	1.85	3.7	1.66	0.9	1.65	1.19	1.67	1.85	1.62	2	1.62	1.74	1.67	1.64
Price/Book Value Average	0.56	1.61	3.68	1.48	1.4	1.06	1.32	1.49	1.83	1.17	1.77	1.82	1.41	1.68	1.61
Price/Book Value High	1.03	2.02	5.21	1.75	1.88	1.76	1.64	1.88	2.08	1.87	2.16	2.12	1.81	2.01	1.78
Price/Book Value Low	0.34	1.29	2.72	1.23	0.84	0.51	1.05	0.98	1.45	0.61	1.29	1.52	1.08	1.36	1.29
Price/Tangible Book Value	0.16	0.66	1.1	0.75	0.41	0.8	0.6	0.92	1.07	0.93	1.42	1.92	2.01	1.88	1.72
Price/Tangible Book Value Average	0.2	0.57	1.1	0.67	0.64	0.52	0.66	0.83	1.05	0.67	1.27	2.15	1.63	1.89	1.69
Price/Tangible Book Value High	0.36	0.72	1.55	0.79	0.86	0.86	0.82	1.04	1.2	1.07	1.54	2.51	2.09	2.27	1.88
Price/Tangible Book Value Low	0.12	0.46	0.81	0.56	0.38	0.25	0.52	0.54	0.84	0.35	0.92	1.8	1.24	1.54	1.36
Price/Sales	0.52	2.11	2.66	2.42	1.36	2.62	2.08	3.26	3.7	2.95	3.54	2.74	3.24	3.38	3.45
Price/Sales Average	0.63	1.83	2.64	2.15	2.1	1.68	2.31	2.91	3.65	2.14	3.15	3.07	2.63	3.4	3.39
Price/Sales High	1.15	2.29	3.73	2.56	2.83	2.79	2.87	3.67	4.17	3.42	3.83	3.58	3.37	4.07	3.76
Price/Sales Low	0.38	1.47	1.95	1.8	1.26	0.82	1.83	1.9	2.9	1.12	2.28	2.57	2	2.75	2.73
Price/Cash Flow	1.43	4.11	3.72	4.63	2.62	7.05	4.62	6.43	7.81	6.72	7.24	5.51	8	7.57	7.39
Price/Cash Flow Average	1.72	3.57	3.69	4.12	4.05	4.53	5.13	5.75	7.72	4.88	6.44	6.18	6.5	7.61	7.26
Price/Cash Flow High	3.14	4.48	5.23	4.9	5.46	7.52	6.37	7.24	8.8	7.77	7.84	7.2	8.34	9.12	8.06
Price/Cash Flow Low	1.03	2.87	2.73	3.44	2.43	2.2	4.06	3.76	6.12	2.55	4.67	5.17	4.95	6.17	5.85
Price/Free Cash Flow Average	2.2	3.4	3.57	3.84	3.89	4.37	4.98	5.39	7.18	4.65	6.26	5.94	6.41	7.46	7.12
Price/Free Cash Flow High	4.03	4.27	5.06	4.56	5.25	7.25	6.18	6.79	8.18	7.4	7.63	6.92	8.22	8.94	7.91
Price/Free Cash Flow Low	1.32	2.74	2.64	3.2	2.34	2.12	3.95	3.52	5.69	2.43	4.54	4.97	4.88	6.05	5.74
EV/Sales Average	1.79	2.46	2.93	1.78	2.66	3.54	2.79	3.58	4.05	1	0.51	3.5	2.63	2.74	3
EV/Sales High	2.31	2.92	4.03	2.19	3.39	4.65	3.35	4.34	4.56	2.27	1.19	4.01	3.37	3.41	3.38
EV/Sales Low	1.54	2.1	2.24	1.43	1.82	2.68	2.31	2.57	3.29	- -	- -	3	2	2.09	2.35
EV/EBITDA Average	28.66	39.88	46.67	34.81	51.22	84.43	70.18	109.52	121.65	26.15	11.43	99.68	83.58	99.13	139.13
EV/EBITDA High	36.97	47.46	64.16	42.74	65.3	110.9	84.15	132.63	137.05	59.3	26.83	114.17	107.19	123.58	156.54
EV/EBITDA Low	24.63	34.1	35.72	27.86	35.04	63.8	58.06	78.64	98.86	-0.56	-8	85.46	63.62	75.85	108.68
EV/EBIT Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	3.49	4.58	6.19	5.87	3.25	6.61	5.1	8.6	10.59	9.22	13.78	12.72	16.45	18.59	20.73
High Price	7.65	4.99	8.7	6.21	6.76	7.05	7.02	9.68	11.94	10.67	14.91	16.62	17.15	22.4	22.61
Enterprise Value Average	771	1,098	1,403	902	1,342	1,904	1,462	2,039	2,515	679	416	3,101	2,360	2,478	2,887
Enterprise Value High	994	1,306	1,929	1,108	1,711	2,500	1,753	2,469	2,834	1,541	976	3,551	3,027	3,089	3,249
Enterprise Value Low	662	939	1,074	722	918	1,438	1,209	1,464	2,044	-15	-291	2,658	1,796	1,896	2,255

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Shares Outstanding	205	206	207	213	215	217	216	217	217	218	202	183	169	164	157
Diluted Weighted Avg Shares	90	206	206	211	213	216	216	217	217	218	211	192	185	165	161
Basic Weighted Avg Shares	64	205	206	208	211	213	214	216	217	217	210	191	177	165	160
Revenue per Share	6.67	2.17	2.33	2.43	2.39	2.53	2.45	2.64	2.87	3.12	3.89	4.65	5.08	5.5	6.01
EBITDA per Share	0.42	0.13	0.15	0.12	0.12	0.11	0.1	0.09	0.1	0.12	0.17	0.16	0.16	0.15	0.13
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	-1.54	0.15	-0.8	1.88	0.1	0.44	0.3	0.92	0.76	0.46	1.33	1.6	1.72	1.82	2.16
Basic EPS from Cont Ops	-1.28	0.15	-0.8	1.88	0.1	0.44	0.31	0.93	0.77	0.47	1.34	1.6	1.72	1.82	2.16
Diluted EPS, GAAP	-1.11	0.14	-0.8	1.86	0.1	0.43	0.3	0.92	0.76	0.46	1.32	1.59	1.64	1.81	2.15
Diluted EPS from Cont Ops	-0.92	0.14	-0.8	1.86	0.1	0.43	0.31	0.93	0.77	0.47	1.33	1.59	1.64	1.81	2.15
Dividend per Share	0.41	- -	- -	- -	- -	- -	0.01	0.04	0.15	0.21	0.32	0.46	0.56	0.64	0.72
Cash Flow per Share	2.43	1.11	1.66	1.27	1.24	0.94	1.1	1.34	1.36	1.37	1.9	2.31	2.06	2.46	2.8
Free Cash Flow per Basic Share	2.23	1.06	1.61	1.16	1.18	0.89	1.06	1.24	1.25	1.3	1.84	2.2	1.93	2.4	2.74
Cash & Equivalents per Share	18.61	7.82	7.74	8.33	8.73	8.66	10.55	10.88	12.16	26.74	41.29	31.44	33.39	13.73	15.52
Book Value per Share	7.41	2.47	1.67	3.54	3.59	4.01	4.29	5.14	5.73	5.71	6.9	7.85	9.46	11.13	12.68
Tangible Book Value per Share	21.42	6.92	5.61	7.85	7.84	8.22	8.57	9.31	9.94	9.96	9.68	6.63	8.19	9.87	12.03

First BanCorp.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)