First Citizens BancShares (FCNCA) financial statements
First Citizens BancShares reported revenue of $9.5B in fiscal 2025, up 24.6% a year over 9 years.
Net income was $2.2B.
Free cash flow was $2.2B, and the company returned $161M in dividends and $3.0B in net buybacks.
The diluted share count rose 8% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from First Citizens BancShares's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.3B | $1.6B | $1.6B | $1.7B | $1.9B | $1.9B | $5.1B | $18.8B | $9.8B | $9.5B |
| Interest expense | $43M | $44M | $37M | $93M | $96M | $61M | $467M | $3.7B | — | — |
| Pre-tax income | $351M | $544M | $504M | $592M | $618M | $701M | $1.4B | $12.1B | $3.6B | $3.0B |
| Income tax | $126M | $220M | $103M | $135M | $126M | $154M | $264M | $611M | $815M | $765M |
| Net income | $225M | $324M | $400M | $457M | $492M | $547M | $1.1B | $11.5B | $2.8B | $2.2B |
| EPS (diluted) | $18.77 | $29.96 | $33.53 | $41.05 | $47.50 | $53.88 | $67.40 | $784.51 | $189.41 | $165.24 |
| Diluted shares | 12M | 12M | 12M | 11M | 10M | 10M | 16M | 15M | 14M | 13M |
| Net margin | 17.1% | 20.5% | 24.9% | 26.5% | 26.4% | 28.8% | 21.6% | 61.0% | 28.5% | 23.1% |
Balance sheet
Fiscal years, from First Citizens BancShares's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $540M | $336M | $327M | $377M | $4.3B | $9.0B | $518M | $908M | $814M | $801M |
| Property, plant and equipment | $1.1B | $1.1B | $1.2B | $1.2B | $1.3B | $1.2B | — | $1.9B | $2.0B | $2.4B |
| Goodwill | $151M | $151M | $236M | $349M | $350M | $346M | $346M | $346M | $346M | $346M |
| Total assets | $33.0B | $34.5B | $35.4B | $39.8B | $50.0B | $58.3B | $109.3B | $213.8B | $223.7B | $229.7B |
| Long-term debt | $833M | $870M | $14M | — | — | $1.2B | $4.5B | $37.2B | $36.7B | $35.8B |
| Total liabilities | $30.0B | $31.2B | $31.9B | $36.2B | $45.7B | $53.6B | $99.6B | $192.5B | $201.5B | $207.5B |
| Shareholders' equity | $3.0B | $3.3B | $3.5B | $3.6B | $4.2B | $4.7B | $9.7B | $21.3B | $22.2B | $22.2B |
| Net debt | $897M | $1.2B | $259M | -$377M | -$4.3B | -$7.8B | $3.9B | $36.3B | $35.9B | $35.0B |
Cash flow
Fiscal years, from First Citizens BancShares's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $231M | $355M | $454M | $578M | $376M | -$284M | $2.8B | $2.7B | $3.0B | $2.9B |
| Capital spending | $82M | $85M | $140M | $121M | $133M | $107M | $155M | $405M | $429M | $710M |
| Free cash flow | $149M | $270M | $313M | $457M | $243M | -$391M | $2.6B | $2.3B | $2.6B | $2.2B |
| Stock-based compensation | — | — | — | — | $0 | $0 | $19M | $5M | $0 | $0 |
| Dividends paid | $14M | $14M | $17M | $18M | $30M | $42M | $83M | $117M | $158M | $161M |
| Share buybacks (net) | $0 | $0 | -$163M | -$453M | -$334M | $0 | -$1.2B | $0 | -$1.6B | -$3.0B |
| Net borrowing | $117M | $130M | -$122M | $172M | $562M | -$106M | -$1.2B | -$3.1B | -$450M | -$1.0B |
| Free cash flow margin | 11.2% | 17.1% | 19.5% | 26.5% | 13.0% | -20.6% | 51.9% | 12.0% | 26.2% | 23.2% |
| Dividends per share | $1.20 | $1.20 | $1.41 | $1.63 | $2.98 | $4.28 | $5.34 | $8.05 | $11.02 | $12.38 |
Questions
What was First Citizens BancShares's revenue in 2025?
$9.5B in fiscal 2025, from its 10-K filing.
How much free cash flow does First Citizens BancShares generate?
$2.2B in fiscal 2025 (operating cash flow minus capital spending).
From First Citizens BancShares's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.