First Hawaiian (FHB) financial statements
First Hawaiian reported revenue of $881M in fiscal 2025, up 2.3% a year over 9 years.
Net income was $276M.
Free cash flow was $303M, and the company returned $131M in dividends and $100M in net buybacks.
The diluted share count fell 10% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from First Hawaiian's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $718M | $734M | $745M | $766M | $733M | $715M | $793M | $837M | $809M | $881M |
| Interest expense | $27M | $42M | $80M | $105M | $47M | $19M | $50M | $287M | — | — |
| Pre-tax income | $372M | $368M | $358M | $382M | $244M | $349M | $351M | $309M | $293M | $354M |
| Income tax | $142M | $185M | $94M | $97M | $58M | $83M | $86M | $74M | $62M | $78M |
| Net income | $230M | $184M | $264M | $284M | $186M | $266M | $266M | $235M | $230M | $276M |
| EPS (diluted) | $1.65 | $1.32 | $1.93 | $2.13 | $1.43 | $2.05 | $2.08 | $1.84 | $1.79 | $2.20 |
| Diluted shares | 139M | 140M | 137M | 133M | 130M | 130M | 128M | 128M | 128M | 126M |
| Net margin | 32.1% | 25.0% | 35.5% | 37.1% | 25.3% | 37.1% | 33.5% | 28.1% | 28.5% | 31.4% |
Balance sheet
Fiscal years, from First Hawaiian's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $1.1B | $1.0B | $1.0B | $694M | $1.0B | $1.3B | $527M | $1.7B | $1.2B | $1.5B |
| Property, plant and equipment | $301M | $289M | $305M | $317M | $322M | $318M | $280M | $281M | $289M | $303M |
| Goodwill | $995M | $995M | $995M | $995M | $995M | $995M | $995M | $995M | $995M | $995M |
| Total assets | $19.7B | $20.5B | $20.7B | $20.2B | $22.7B | $25.0B | $24.6B | $24.9B | $23.8B | $24.0B |
| Long-term debt | $0 | $0 | — | — | — | — | — | — | — | — |
| Total liabilities | $17.2B | $18.0B | $18.2B | $17.5B | $19.9B | $22.3B | $22.3B | $22.4B | $21.2B | $21.2B |
| Shareholders' equity | $2.5B | $2.5B | $2.5B | $2.6B | $2.7B | $2.7B | $2.3B | $2.5B | $2.6B | $2.8B |
| Net debt | -$1.1B | -$1.0B | -$1.0B | -$694M | -$1.0B | -$1.3B | -$527M | -$1.7B | -$1.2B | -$1.5B |
Cash flow
Fiscal years, from First Hawaiian's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $220M | $270M | $351M | $297M | $210M | $417M | $431M | $255M | $318M | $335M |
| Capital spending | $16M | $10M | $36M | $29M | $33M | $20M | $13M | $16M | $29M | $32M |
| Free cash flow | $205M | $260M | $316M | $267M | $176M | $397M | $417M | $239M | $289M | $303M |
| Stock-based compensation | $5M | $5M | $6M | $8M | $10M | $13M | $10M | $10M | $12M | $16M |
| Dividends paid | $86M | $123M | $131M | $138M | $135M | $134M | $133M | $133M | $133M | $131M |
| Share buybacks (net) | — | — | -$132M | -$136M | -$5M | -$75M | -$9M | — | -$40M | -$100M |
| Net borrowing | -$207M | -$9M | $600M | -$10,000 | -$400M | -$200M | $75M | -$75M | — | — |
| Free cash flow margin | 28.5% | 35.4% | 42.3% | 34.9% | 24.0% | 55.4% | 52.6% | 28.6% | 35.7% | 34.4% |
| Dividends per share | $0.62 | $0.88 | $0.96 | $1.04 | $1.04 | $1.04 | $1.04 | $1.04 | $1.03 | $1.04 |
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Open FHB in InvestinglyQuestions
What was First Hawaiian's revenue in 2025?
$881M in fiscal 2025, from its 10-K filing.
How much free cash flow does First Hawaiian generate?
$303M in fiscal 2025 (operating cash flow minus capital spending).
From First Hawaiian's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.