First Foundation Inc. (FFWM) Financials
Newest figures come from the 10-K for FY2025, filed Mar 16, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the FFWM SEC filings page.
First Foundation Inc. (FFWM) reported $234.8M in revenue for fiscal year 2025, up 101.1% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 14 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).
FY2025 revenue recovered, but interest expense still exceeded it, leaving a leveraged financial model that remained loss-making.
In FY2025, interest expense was$353.6M against reported revenue of$234.8M . With net loss widening from$92.4M in FY2024 to$155.2M , the revenue rebound was insufficient to absorb funding costs.
Total assets contracted from
Operating cash flow moved from
Financial Health Signals
Scored against banks for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of First Foundation Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
First Foundation Inc. earned a return on assets of -1.3% in fiscal year 2025, which is the profit it made on every dollar of assets on its books. This is down from -0.7% the prior year. Earnings ranks banks on that return over three years, and First Foundation Inc. scores 10/100 among other banks.
First Foundation Inc. reported revenue of $234.8M in fiscal year 2025, against $116.8M in fiscal year 2024. Growth ranks banks on the three-year path of their net revenue, which is interest income and fee income less the interest they pay out, and First Foundation Inc. scores 11/100 among other banks.
First Foundation Inc. funded 7.7% of its assets with shareholders' equity at the end of fiscal year 2025, holding $912.6M of equity against $11.9B of assets. Capital ranks banks on that cushion, and First Foundation Inc. scores 6/100 among other banks.
Efficiency measures what a bank spends running itself against the revenue that spending brings in, so a lower ratio is the better one. First Foundation Inc. scores 3/100 on it among other banks.
Credit Quality measures the money a bank set aside for loans it expects to go bad, against the size of the loan book it set that money aside for. First Foundation Inc. scores 10/100 on it among other banks.
First Foundation Inc. reported a net loss of $155.2M in fiscal year 2025, against a loss of $92.4M in fiscal year 2024. Stability ranks banks on how steady net income has been across five years, and First Foundation Inc. scores 5/100 among other banks.
First Foundation Inc. passes 2 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
First Foundation Inc. reported a net loss of $155.2M while operations used $31.9M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
First Foundation Inc. generated $127.4M in revenue in Q4 2025. This represents a decrease of 16.5% from the same quarter a year earlier. Against the prior quarter it is up 100.3%.
First Foundation Inc. reported -$8.0M in net income in Q4 2025. This represents an increase of 43.0% from the same quarter a year earlier. Against the prior quarter it is up 94.5%.
First Foundation Inc. earned -$0.10 per diluted share (EPS) in Q4 2025. This represents an increase of 41.2% from the same quarter a year earlier. Against the prior quarter it is up 94.4%.
Not reported for Q4 2025.
Cash & Balance Sheet
First Foundation Inc. recorded an outflow of $24.6M in free cash flow in Q4 2025, representing a cash shortfall after capex. This represents a decrease of 14.9% from the same quarter a year earlier. Against the prior quarter it is down 387.3%.
First Foundation Inc. held $1.6B in cash as of Q4 2025; long-term debt is not reported for that period.
Not reported for Q4 2025.
Margins & Returns
First Foundation Inc.'s net profit margin was -6.3% in Q4 2025, showing the share of revenue converted to profit. This is up 2.9 percentage points from the same quarter a year earlier.
First Foundation Inc.'s ROE was -0.9% in Q4 2025, measuring profit generated per dollar of shareholder equity. This is up 0.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 15.1 percentage points.
Not reported for Q4 2025.
Not reported for Q4 2025.
Capital Allocation
First Foundation Inc. invested $309K in capex in Q4 2025, funding long-term assets and infrastructure. This represents a decrease of 15.1% from the same quarter a year earlier. Against the prior quarter it is down 50.2%.
Not reported for Q4 2025.
Not reported for Q4 2025.
FFWM Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2510-K | Q3'2510-K | Q2'2510-K | Q1'2510-K | Q4'2410-K | Q3'2410-Q | Q2'2410-K | Q1'2410-K |
|---|---|---|---|---|---|---|---|---|
| Revenue | $127.4M-16.5% | $63.6M+594.1% | $51.4M-10.6% | $71.4M+39.8% | $152.5M+170.5% | $9.2M-85.6% | $57.5M-5.9% | $51.1M-27.5% |
| SG&A Expenses | $62.9M-6.1% | $23.7M+18.5% | $22.9M+19.9% | $25.1M+29.4% | $67.0M | $20.0M+1.9% | $19.1M-9.2% | $19.4M-23.3% |
| Interest Expense | $87.9M-13.1% | $88.7M-17.9% | $87.0M-18.7% | $89.9M-19.7% | $101.2M-2.8% | $108.0M+16.6% | $107.1M+11.1% | $112.1M+43.2% |
| Income Tax | $32K+100.4% | $87.4M+351.2% | -$3.2M-655.3% | -$633K+30.4% | -$8.8M-284.7% | -$34.8M-5699.0% | -$421K-40.3% | -$910K-141.4% |
| Net Income | -$8.0M+43.0% | -$146.3M-78.1% | -$7.7M-349.3% | $6.9M+769.6% | -$14.1M-653.8% | -$82.2M-3869.4% | $3.1M+101.5% | $793K-90.7% |
| EPS (Basic) | -$0.10+41.2% | -$1.78-44.7% | -$0.09-280.0% | $0.08+700.0% | -$0.17-440.0% | -$1.23-3175.0% | $0.05+101.3% | $0.01-93.3% |
| EPS (Diluted) | -$0.10+41.2% | -$1.78-44.7% | -$0.09-280.0% | $0.08+700.0% | -$0.17 | -$1.23-3175.0% | $0.05+101.3% | $0.01-93.3% |
| Diluted Shares (Avg) | N/A | 82M+23.0% | 82M+45.7% | 83M+47.8% | N/A | 67M+18.7% | 57M+0.2% | 57M+0.2% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Operating Income, EBITDA.
FFWM Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2510-K | Q3'2510-K | Q2'2510-K | Q1'2510-K | Q4'2410-K | Q3'2410-Q | Q2'2410-K | Q1'2410-K |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $11.9B-5.9% | $11.9B-11.0% | $11.6B-15.5% | $12.6B-7.3% | $12.6B-5.1% | $13.4B+2.5% | $13.7B+6.8% | $13.6B-0.2% |
| Cash & Equivalents | $1.6B+59.9% | $1.7B+56.1% | $1.1B-25.7% | $1.0B-36.2% | $1.0B-23.4% | $1.1B+35.2% | $1.4B+53.5% | $1.6B+20.6% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $11.0B-5.2% | $11.0B-10.7% | $10.5B-17.6% | $11.5B-8.9% | $11.6B-6.5% | $12.3B+1.4% | $12.8B+7.2% | $12.7B+1.4% |
| Total Equity | $912.6M-13.4% | $917.9M-14.2% | $1.1B+12.6% | $1.1B+14.2% | $1.1B+13.8% | $1.1B+16.4% | $933.2M+1.9% | $928.7M-18.1% |
| Retained Earnings | -$30.1M-124.1% | -$22.1M-115.9% | $124.2M-43.9% | $131.9M-39.7% | $125.0M-42.8% | $139.1M-35.8% | $221.3M+2.7% | $218.8M-49.0% |
Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Goodwill, Current Liabilities, Non-Current Liabilities, Long-Term Debt.
FFWM Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2510-K | Q3'2510-K | Q2'2510-K | Q1'2510-K | Q4'2410-K | Q3'2410-Q | Q2'2410-K | Q1'2410-K |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$24.3M-15.4% | $9.2M-35.5% | -$16.3M-78.2% | -$552K-107.7% | -$21.0M+38.5% | $14.2M-10.4% | -$9.1M-155.1% | $7.2M-26.3% |
| Depreciation & Amortization | $1.1M-7.5% | $1.1M-10.7% | $1.1M-8.5% | $1.1M-5.5% | $1.2M-2.7% | $1.2M+12.7% | $1.2M+13.4% | $1.2M+7.8% |
| Stock-Based Compensation | N/A | N/A | N/A | $1.6M+170.6% | N/A | N/A | N/A | $605K+1790.6% |
| Capital Expenditures | $309K-15.1% | $620K-24.9% | $422K+68.1% | $2.0M+52.9% | $364K-80.9% | $826K-77.7% | $251K+130.3% | $1.3M-48.5% |
| Free Cash Flow | -$24.6M-14.9% | $8.6M-36.1% | -$16.7M-77.9% | -$2.5M-142.5% | -$21.4M+40.8% | $13.4M+10.1% | -$9.4M-157.0% | $5.9M-18.7% |
| Investing Cash Flow | -$77.3M-112.2% | $210.0M+413.8% | $1.0B+461.3% | $57.9M+588.8% | $631.2M+161.4% | -$66.9M+78.4% | -$285.3M-281.4% | $8.4M-80.7% |
| Financing Cash Flow | -$526K+99.9% | $452.1M+272.3% | -$972.9M-860.8% | -$59.7M-124.3% | -$700.5M-332.8% | -$262.3M-240.9% | $127.9M+122.6% | $245.8M-59.5% |
| Dividends Paid | N/A | N/A | N/A | N/A | -$1K-100.2% | -$1K-100.1% | $566K-49.8% | $566K-90.9% |
| Share Buybacks | N/A | N/A | N/A | N/A | $7K+250.0% | $0-100.0% | $0 | $142K-73.4% |
FFWM Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2510-K | Q3'2510-K | Q2'2510-K | Q1'2510-K | Q4'2410-K | Q3'2410-Q | Q2'2410-K | Q1'2410-K |
|---|---|---|---|---|---|---|---|---|
| Net Margin | -6.3%+2.9pp | -230.1% | -15.0%-20.3pp | 9.7%+8.1pp | -9.3%-13.8pp | -896.9% | 5.4% | 1.6%-10.5pp |
| Return on Equity | -0.9%+0.5pp | -15.9%-8.3pp | -0.7%-1.1pp | 0.7%+0.6pp | -1.3%-1.6pp | -7.7%-7.9pp | 0.3%+23.5pp | 0.1%-0.7pp |
| Return on Assets | -0.1%0.0pp | -1.2%-0.6pp | -0.1%-0.1pp | 0.1%0.0pp | -0.1%-0.1pp | -0.6%-0.6pp | 0.0%+1.7pp | 0.0%0.0pp |
| Debt-to-Equity | 12.04+1.0x | 11.98+0.5x | 10.03-3.7x | 10.87-2.8x | 11.00-2.4x | 11.50-1.7x | 13.70+0.7x | 13.63+2.6x |
| Asset Turnover | 0.010.0x | 0.010.0x | 0.000.0x | 0.010.0x | 0.010.0x | 0.000.0x | 0.000.0x | 0.000.0x |
| FCF Margin | -19.3%-5.3pp | 13.5% | -32.4%-16.1pp | -3.5%-15.1pp | -14.0%+50.0pp | 146.2% | -16.3%-43.2pp | 11.6%+1.3pp |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Net Margin, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| First Foundation Inc. FFWM | FY2025 | $234.8M | -$155.2M | -66.1% | $489.3M | 8/100 |
| Peapack-Gladstone Financial Corp PGC | FY2025 | $283.0M | $37.3M | 13.2% | $769.0M | 34/100 |
| Northfield Bancorp, Inc. NFBK | FY2025 | $154.3M | $796K | 0.5% | $639.4M | 29/100 |
| Unity Bancorp UNTY | FY2025 | $131.8M | $58.0M | 44.0% | $567.8M | 62/100 |
| Northrim BanCorp Inc NRIM | FY2025 | $255.6M | $64.6M | 25.3% | $523.9M | 62/100 |
| Arrow Financial Corp AROW | FY2025 | $139.5M | $44.0M | 31.5% | $682.6M | 28/100 |
Where First Foundation Inc. Ranks
Frequently Asked Questions
What is First Foundation Inc.'s annual revenue?
First Foundation Inc. (FFWM) reported $234.8M in total revenue for fiscal year 2025. This represents a 101.1% 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 Foundation Inc.'s revenue growing?
First Foundation Inc. (FFWM) revenue grew by 101.1% year-over-year, from $116.8M to $234.8M in fiscal year 2025.
Is First Foundation Inc. profitable?
No, First Foundation Inc. (FFWM) reported a net income of -$155.2M in fiscal year 2025, with a net profit margin of -66.1%.
What is First Foundation Inc.'s net profit margin?
First Foundation Inc. (FFWM) had a net profit margin of -66.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is First Foundation Inc.'s return on equity (ROE)?
First Foundation Inc. (FFWM) has a return on equity of -17.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is First Foundation Inc.'s free cash flow?
First Foundation Inc. (FFWM) recorded an outflow of $35.2M in free cash flow during fiscal year 2025. This represents a -207.7% 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 Foundation Inc.'s operating cash flow?
First Foundation Inc. (FFWM) recorded an outflow of $31.9M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are First Foundation Inc.'s total assets?
First Foundation Inc. (FFWM) had $11.9B in total assets as of fiscal year 2025, including both current and long-term assets.
What are First Foundation Inc.'s capital expenditures?
First Foundation Inc. (FFWM) invested $3.3M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is First Foundation Inc.'s debt-to-equity ratio?
First Foundation Inc. (FFWM) had a debt-to-equity ratio of 12.04 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is First Foundation Inc.'s return on assets (ROA)?
First Foundation Inc. (FFWM) had a return on assets of -1.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is First Foundation Inc.'s Piotroski F-Score?
First Foundation Inc. (FFWM) has a Piotroski F-Score of 2 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are First Foundation Inc.'s earnings high quality?
First Foundation Inc. (FFWM) reported a net loss of $155.2M while operations used $31.9M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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 Foundation Inc.?
First Foundation Inc. (FFWM) scores 8 out of 100 on our Financial Health Score, indicating weak standing within its banks peer group. The score is a 0-100 composite of six dimensions (Earnings, Growth, Capital, Efficiency, Credit Quality, Stability), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.