First Citizens BancShares Financials

FCNCB

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows First Citizens BancShares (FCNCB) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 50/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Growth

First Citizens BancShares's revenue declined 48.1% year-over-year, from $18.8B to $9.8B. This contraction results in a growth score of 0/100.

Leverage

First Citizens BancShares has a moderate D/E ratio of 1.65. This balance of debt and equity financing earns a leverage score of 50/100.

Cash Flow

100

First Citizens BancShares converts 26.2% of revenue into free cash flow ($2.6B). This strong cash generation earns a score of 100/100.

Returns

First Citizens BancShares's ROE of 12.5% shows moderate profitability relative to equity, earning a score of 50/100. This is down from 53.9% the prior year.

Piotroski F-Score Neutral

4/9

First Citizens BancShares passes 4 of 9 financial strength tests. 3 of 4 profitability signals pass, all 1 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

1.08x

For every $1 of reported earnings, First Citizens BancShares generates $1.08 in operating cash flow ($3.0B OCF vs $2.8B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Revenue

$9.8B

YoY-48.1%

5Y CAGR+47.4%

10Y CAGR+29.1%

First Citizens BancShares generated $9.8B in revenue in fiscal year 2024. This represents a decrease of 48.1% from the prior year.

EBITDA

N/A

Free Cash Flow

$2.6B

YoY+13.5%

5Y CAGR+41.1%

10Y CAGR+38.4%

First Citizens BancShares generated $2.6B in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 13.5% from the prior year.

Net Income

$2.8B

YoY-75.8%

5Y CAGR+43.4%

10Y CAGR+35.0%

First Citizens BancShares reported $2.8B in net income in fiscal year 2024. This represents a decrease of 75.8% from the prior year.

EPS (Diluted)

$189.41

YoY-75.9%

First Citizens BancShares earned $189.41 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 75.9% from the prior year.

Cash & Debt

$814.0M

YoY-10.4%

5Y CAGR+16.7%

10Y CAGR+3.0%

First Citizens BancShares held $814.0M in cash against $36.7B in long-term debt as of fiscal year 2024.

Dividends Per Share

$6.87

YoY+76.6%

5Y CAGR+33.8%

10Y CAGR+19.1%

First Citizens BancShares paid $6.87 per share in dividends in fiscal year 2024. This represents an increase of 76.6% from the prior year.

Shares Outstanding

N/A

Gross Margin

N/A

Operating Margin

N/A

Net Margin

28.5%

YoY-32.6pp

5Y CAGR-4.1pp

10Y CAGR+10.2pp

First Citizens BancShares's net profit margin was 28.5% in fiscal year 2024, showing the share of revenue converted to profit. This is down 32.6 percentage points from the prior year.

Return on Equity

12.5%

YoY-41.4pp

5Y CAGR-0.3pp

10Y CAGR+7.3pp

First Citizens BancShares's ROE was 12.5% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 41.4 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

$1.6B

5Y CAGR+29.5%

First Citizens BancShares spent $1.6B on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

Capital Expenditures

$429.0M

YoY+5.9%

5Y CAGR+28.8%

10Y CAGR+17.9%

First Citizens BancShares invested $429.0M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 5.9% from the prior year.

FCNCB Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$9.8B-48.1%	$18.8B+269.7%	$5.1B+250.2%	$1.5B-2.2%	$1.5B+5.7%	$1.4B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$5.2B+41.6%	$3.7B+687.8%	$467.0M+665.6%	$61.0M-36.5%	$96.0M+3.6%	$92.6M
Income Tax	$815.0M+33.4%	$611.0M+131.4%	$264.0M+71.4%	$154.0M+22.2%	$126.0M-6.4%	$134.7M
Net Income	$2.8B-75.8%	$11.5B+944.3%	$1.1B+100.7%	$547.0M+11.2%	$492.0M+7.6%	$457.4M
EPS (Diluted)	$189.41-75.9%	$784.51+1064.0%	$67.40+25.1%	$53.88+13.4%	$47.50	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$2.4B+2.5%	$2.4B+3.3%	$2.3B-4.6%	$2.4B-2.1%	$2.5B+0.7%	$2.4B-78.8%	$11.5B+270.2%	$3.1B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$1.3B+1.1%	$1.3B+1.5%	$1.2B-4.6%	$1.3B-1.3%	$1.3B+3.3%	$1.3B+5.1%	$1.2B+7.7%	$1.1B
Income Tax	$183.0M0.0%	$183.0M+8.9%	$168.0M+366.7%	$36.0M-86.8%	$272.0M-0.4%	$273.0M+37.2%	$199.0M-18.8%	$245.0M
Net Income	$568.0M-1.2%	$575.0M+19.0%	$483.0M-31.0%	$700.0M-1.0%	$707.0M-3.3%	$731.0M+42.2%	$514.0M-31.6%	$752.0M
EPS (Diluted)	$43.08+1.7%	$42.36+22.9%	$34.47-29.9%	$49.19+3.5%	$47.54-3.5%	$49.26+43.5%	$34.33-32.2%	$50.67

FCNCB Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$223.7B+4.7%	$213.8B+95.6%	$109.3B+87.4%	$58.3B+16.7%	$50.0B+25.4%	$39.8B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$814.0M-10.4%	$908.0M+75.3%	$518.0M-94.3%	$9.0B+111.5%	$4.3B+1033.5%	$376.7M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	$862.0M	N/A	N/A
Goodwill	$346.0M0.0%	$346.0M0.0%	$346.0M0.0%	$346.0M-1.1%	$350.0M+0.2%	$349.4M
Total Liabilities	$201.5B+4.7%	$192.5B+93.2%	$99.6B+86.0%	$53.6B+17.2%	$45.7B+26.2%	$36.2B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$36.7B-1.3%	$37.2B+733.6%	$4.5B+273.1%	$1.2B-4.3%	$1.2B+112.0%	$588.6M
Total Equity	$22.2B+4.6%	$21.3B+120.0%	$9.7B+103.9%	$4.7B+12.0%	$4.2B+17.9%	$3.6B
Retained Earnings	$19.4B+15.6%	$16.7B+210.5%	$5.4B+23.2%	$4.4B+13.2%	$3.9B+5.7%	$3.7B

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$233.5B+1.7%	$229.7B+0.4%	$228.8B+2.3%	$223.7B+1.8%	$219.8B+0.9%	$217.8B+1.9%	$213.8B0.0%	$213.8B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$874.0M-1.7%	$889.0M+9.5%	$812.0M-0.2%	$814.0M+6.5%	$764.0M+9.5%	$698.0M-23.1%	$908.0M+14.8%	$791.0M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$346.0M0.0%	$346.0M0.0%	$346.0M0.0%	$346.0M0.0%	$346.0M0.0%	$346.0M0.0%	$346.0M0.0%	$346.0M
Total Liabilities	$211.5B+2.0%	$207.4B+0.4%	$206.5B+2.5%	$201.5B+2.1%	$197.3B+0.7%	$196.0B+1.8%	$192.5B-0.5%	$193.4B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$38.3B+1.6%	$37.6B-0.8%	$38.0B+3.5%	$36.7B-1.0%	$37.1B-0.2%	$37.1B-0.1%	$37.2B-0.2%	$37.3B
Total Equity	$22.0B-1.4%	$22.3B0.0%	$22.3B+0.3%	$22.2B-1.2%	$22.5B+2.9%	$21.8B+2.8%	$21.3B+4.2%	$20.4B
Retained Earnings	$20.9B+2.6%	$20.3B+2.7%	$19.8B+2.3%	$19.4B+7.0%	$18.1B+3.8%	$17.4B+4.1%	$16.7B+2.9%	$16.3B

FCNCB Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$3.0B+12.3%	$2.7B-4.7%	$2.8B+1082.7%	-$284.0M-175.5%	$376.0M-35.0%	$578.2M
Capital Expenditures	$429.0M+5.9%	$405.0M+161.3%	$155.0M+44.9%	$107.0M-19.5%	$133.0M+9.8%	$121.1M
Free Cash Flow	$2.6B+13.5%	$2.3B-14.5%	$2.6B+774.2%	-$391.0M-260.9%	$243.0M-46.8%	$457.2M
Investing Cash Flow	-$10.2B-518.1%	$2.4B+3138.7%	$75.0M+101.0%	-$7.6B+23.6%	-$9.9B-520.7%	-$1.6B
Financing Cash Flow	$7.1B+250.5%	-$4.7B-74.9%	-$2.7B-134.3%	$7.8B-17.7%	$9.5B+791.8%	$1.1B
Dividends Paid	$158.0M+35.0%	$117.0M+41.0%	$83.0M+97.6%	$42.0M+40.0%	$30.0M+65.4%	$18.1M
Share Buybacks	$1.6B	$0-100.0%	$1.2B	$0-100.0%	$334.0M-26.3%	$453.1M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	$916.0M+6.6%	$859.0M+776.5%	$98.0M-91.2%	$1.1B+168.3%	$417.0M-9.5%	$461.0M-48.8%	$901.0M-25.2%	$1.2B
Capital Expenditures	$238.0M+88.9%	$126.0M+22.3%	$103.0M-19.5%	$128.0M+26.7%	$101.0M+7.4%	$94.0M-54.8%	$208.0M+201.4%	$69.0M
Free Cash Flow	$678.0M-7.5%	$733.0M+14760.0%	-$5.0M-100.5%	$991.0M+213.6%	$316.0M-13.9%	$367.0M-47.0%	$693.0M-39.0%	$1.1B
Investing Cash Flow	-$3.8B-576.3%	-$562.0M+88.5%	-$4.9B-30.3%	-$3.7B-105.8%	-$1.8B+57.6%	-$4.3B-1098.6%	-$358.0M+90.5%	-$3.8B
Financing Cash Flow	$2.9B+1404.5%	-$220.0M-104.6%	$4.8B+85.4%	$2.6B+75.5%	$1.5B-59.4%	$3.6B+949.8%	-$426.0M-117.6%	$2.4B
Dividends Paid	$39.0M-2.5%	$40.0M-4.8%	$42.0M0.0%	$42.0M+7.7%	$39.0M0.0%	$39.0M0.0%	$39.0M+50.0%	$26.0M
Share Buybacks	$896.0M+46.2%	$613.0M-0.8%	$618.0M-34.8%	$948.0M	$0	$0	$0	N/A

FCNCB Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	28.5%-32.6pp	61.0%+39.4pp	21.6%-16.1pp	37.7%+4.5pp	33.1%+0.6pp	32.6%
Return on Equity	12.5%-41.4pp	53.9%+42.6pp	11.4%-0.2pp	11.5%-0.1pp	11.6%-1.1pp	12.8%
Return on Assets	1.2%-4.1pp	5.4%+4.4pp	1.0%+0.1pp	0.9%-0.0pp	1.0%-0.2pp	1.1%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	1.65-0.1	1.75+1.3	0.46+0.2	0.25-0.0	0.30+0.1	0.16
FCF Margin	26.2%+14.2pp	12.0%-39.9pp	51.9%+78.8pp	-27.0%-43.3pp	16.4%-16.2pp	32.6%

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	23.4%-0.9pp	24.2%+3.2pp	21.0%-8.1pp	29.1%+0.3pp	28.7%-1.2pp	29.9%+25.4pp	4.5%-19.7pp	24.2%
Return on Equity	2.6%0.0pp	2.6%+0.4pp	2.2%-1.0pp	3.1%+0.0pp	3.1%-0.2pp	3.4%+0.9pp	2.4%-1.3pp	3.7%
Return on Assets	0.2%-0.0pp	0.3%+0.0pp	0.2%-0.1pp	0.3%-0.0pp	0.3%-0.0pp	0.3%+0.1pp	0.2%-0.1pp	0.4%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	1.74+0.1	1.69-0.0	1.70+0.1	1.650.0	1.65-0.1	1.70-0.0	1.75-0.1	1.83
FCF Margin	27.9%-3.0pp	30.9%+31.1pp	-0.2%-41.4pp	41.1%+28.3pp	12.8%-2.2pp	15.0%+9.0pp	6.0%-30.5pp	36.5%

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Frequently Asked Questions

What is First Citizens BancShares's annual revenue?

First Citizens BancShares (FCNCB) reported $9.8B in total revenue for fiscal year 2024. This represents a -48.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is First Citizens BancShares's revenue growing?

First Citizens BancShares (FCNCB) revenue declined by 48.1% year-over-year, from $18.8B to $9.8B in fiscal year 2024.

Is First Citizens BancShares profitable?

Yes, First Citizens BancShares (FCNCB) reported a net income of $2.8B in fiscal year 2024, with a net profit margin of 28.5%.

What is First Citizens BancShares's earnings per share (EPS)?

First Citizens BancShares (FCNCB) reported diluted earnings per share of $189.41 for fiscal year 2024. This represents a -75.9% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

How much debt does First Citizens BancShares have?

As of fiscal year 2024, First Citizens BancShares (FCNCB) had $814.0M in cash and equivalents against $36.7B in long-term debt.

What is First Citizens BancShares's net profit margin?

First Citizens BancShares (FCNCB) had a net profit margin of 28.5% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

Does First Citizens BancShares pay dividends?

Yes, First Citizens BancShares (FCNCB) paid $6.87 per share in dividends during fiscal year 2024.

What is First Citizens BancShares's return on equity (ROE)?

First Citizens BancShares (FCNCB) has a return on equity of 12.5% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is First Citizens BancShares's free cash flow?

First Citizens BancShares (FCNCB) generated $2.6B in free cash flow during fiscal year 2024. This represents a 13.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is First Citizens BancShares's operating cash flow?

First Citizens BancShares (FCNCB) generated $3.0B in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are First Citizens BancShares's total assets?

First Citizens BancShares (FCNCB) had $223.7B in total assets as of fiscal year 2024, including both current and long-term assets.

What are First Citizens BancShares's capital expenditures?

First Citizens BancShares (FCNCB) invested $429.0M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

Does First Citizens BancShares buy back shares?

Yes, First Citizens BancShares (FCNCB) spent $1.6B on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

What is First Citizens BancShares's debt-to-equity ratio?

First Citizens BancShares (FCNCB) had a debt-to-equity ratio of 1.65 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is First Citizens BancShares's return on assets (ROA)?

First Citizens BancShares (FCNCB) had a return on assets of 1.2% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is First Citizens BancShares's Piotroski F-Score?

First Citizens BancShares (FCNCB) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are First Citizens BancShares's earnings high quality?

First Citizens BancShares (FCNCB) has an earnings quality ratio of 1.08x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is First Citizens BancShares?

First Citizens BancShares (FCNCB) scores 50 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.