First Guaranty Financials
First Guaranty (FGBI) reported $213.3M in revenue for fiscal year 2025, down 3.8% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).
Thin equity and a funding-driven cash build make this balance-sheet business far more sensitive to modest asset-level losses.
FY2025’s cash balance rose to$845.7M even as operating cash flow turned negative at-$8.3M and net income fell to-$56.0M , so the extra liquidity came from financing and asset repositioning rather than from the business generating cash. That matters because with$226.2M of equity supporting$4.1B of assets, a-1.4% ROA translated into a much steeper-24.8% ROE.
Between FY2023 and FY2025, interest expense stayed above
The balance sheet remains liability-heavy: FY2025 equity was only about
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 Guaranty'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 Guaranty passes 2 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
First Guaranty reported a net loss of $56.0M while operations used $8.3M of cash. With neither figure positive, the ratio between the two carries no quality signal.
First Guaranty reported an operating loss of $46.2M against $126.3M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
First Guaranty generated $213.3M in revenue in fiscal year 2025. This represents a decrease of 3.8% from the prior year.
First Guaranty's EBITDA was -$41.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
First Guaranty reported -$56.0M in net income in fiscal year 2025. This represents a decrease of 550.0% from the prior year.
Not reported for fiscal year 2025.
Cash & Balance Sheet
First Guaranty recorded an outflow of $10.0M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents a decrease of 132.5% from the prior year.
First Guaranty held $845.7M in cash against $179.0M in long-term debt as of fiscal year 2025.
First Guaranty paid $0.04 per share in dividends in fiscal year 2025. This represents a decrease of 90.2% from the prior year.
Margins & Returns
First Guaranty's operating margin was -21.7% in fiscal year 2025, reflecting core business profitability.
First Guaranty's net profit margin was -26.3% in fiscal year 2025, showing the share of revenue converted to profit. This is down 31.9 percentage points from the prior year.
First Guaranty's ROE was -24.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 29.6 percentage points from the prior year.
Not reported for fiscal year 2025.
Capital Allocation
First Guaranty invested $1.7M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 44.3% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
FGBI Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $208.1M | $213.3M-3.8% | $221.7M+21.1% | $183.0M+34.0% | $136.6M+22.0% | $111.9M+11.2% | $100.7M+9.9% | $91.6M+16.9% | $78.4M+16.1% | $67.5M+15.4% | $58.5M+4.4% | $56.1M+5.2% | $53.3M+4.7% | $50.9M-7.8% | $55.2M+1.1% | $54.6M |
| SG&A Expenses | $28.6M | $30.5M-20.5% | $38.3M-5.2% | $40.4M+10.1% | $36.7M+14.0% | $32.2M+8.7% | $29.6M+18.3% | $25.0M+9.3% | $22.9M+13.8% | $20.1M+21.3% | $16.6M+7.0% | $15.5M-2.2% | $15.8M+10.2% | $14.4M+5.1% | $13.7M+9.1% | $12.5M |
| Operating Income | N/A | -$46.2M | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | $122.6M | $126.3M-5.2% | $133.3M+35.6% | $98.3M+169.1% | $36.5M+63.8% | $22.3M-14.3% | $26.0M-13.2% | $30.0M+40.3% | $21.4M+48.4% | $14.4M+41.9% | $10.1M+17.8% | $8.6M-6.5% | $9.2M-17.4% | $11.1M-15.1% | $13.1M-13.2% | $15.1M |
| Income Tax | -$6.8M | -$12.5M-452.4% | $3.6M+32.9% | $2.7M-64.3% | $7.5M+4.9% | $7.2M+37.2% | $5.2M+42.8% | $3.7M+5.6% | $3.5M-53.2% | $7.4M+3.3% | $7.2M+2.9% | $7.0M+26.8% | $5.5M+20.0% | $4.6M-21.9% | $5.9M+57.4% | $3.7M |
| Net Income | -$36.4M | -$56.0M-550.0% | $12.4M+35.0% | $9.2M-68.1% | $28.9M+5.8% | $27.3M+34.3% | $20.3M+42.7% | $14.2M+0.2% | $14.2M+21.0% | $11.8M-16.6% | $14.1M-2.8% | $14.5M+29.2% | $11.2M+22.7% | $9.1M-24.2% | $12.1M+50.1% | $8.0M |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, EPS (Diluted).
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
FGBI Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $4.1B+2.7% | $4.0B+11.8% | $3.6B+12.7% | $3.2B+9.5% | $2.9B+16.4% | $2.5B+16.8% | $2.1B+16.5% | $1.8B+3.8% | $1.8B+16.6% | $1.5B+2.8% | $1.5B-3.9% | $1.5B+5.7% | $1.4B+2.1% | $1.4B+3.9% | $1.4B |
| Cash & Equivalents | $845.7M+49.9% | $564.2M+97.0% | $286.5M+244.2% | $83.2M-68.2% | $261.9M-12.6% | $299.6M+344.4% | $67.4M-47.3% | $128.0M+236.5% | $38.0M+110.0% | $18.1M | N/A | N/A | N/A | N/A | N/A |
| Goodwill | $0-100.0% | $12.9M0.0% | $12.9M0.0% | $12.9M0.0% | $12.9M0.0% | $12.9M-0.3% | $12.9M+272.8% | $3.5M0.0% | $3.5M+73.7% | $2.0M0.0% | $2.0M0.0% | $2.0M0.0% | $2.0M0.0% | $2.0M0.0% | $2.0M |
| Total Liabilities | $3.9B+3.6% | $3.7B+12.5% | $3.3B+13.3% | $2.9B+9.9% | $2.7B+15.7% | $2.3B+17.6% | $2.0B+16.8% | $1.7B+4.0% | $1.6B+16.7% | $1.4B+2.6% | $1.3B-2.7% | $1.4B+5.0% | $1.3B+3.1% | $1.3B+3.7% | $1.2B |
| Long-Term Debt | $179.0M-8.2% | $194.9M-6.8% | $209.1M+466.7% | $36.9M-14.6% | $43.2M-28.6% | $60.5M-4.4% | $63.3M+83.5% | $34.5M-7.8% | $37.4M+1.9% | $36.7M-9.2% | $40.4M+2676.6% | $1.5M+191.0% | $500K-54.5% | $1.1M-65.6% | $3.2M |
| Total Equity | $226.2M-11.3% | $255.0M+2.2% | $249.6M+6.2% | $235.0M+5.0% | $223.9M+25.4% | $178.6M+7.6% | $166.0M+12.7% | $147.3M+2.3% | $144.0M+15.8% | $124.3M+5.2% | $118.2M-15.3% | $139.6M+13.1% | $123.4M-8.0% | $134.2M+6.0% | $126.6M |
| Retained Earnings | $14.1M-80.7% | $73.0M+7.3% | $68.0M-11.0% | $76.4M+34.8% | $56.7M+52.6% | $37.1M-14.2% | $43.3M+23.9% | $34.9M-21.4% | $44.5M+14.1% | $39.0M-21.9% | $49.9M+20.6% | $41.4M-12.8% | $47.5M+10.2% | $43.1M+16.3% | $37.0M |
Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Current Liabilities.
FGBI Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $54.5M | -$8.3M-124.5% | $33.7M+55.3% | $21.7M-41.1% | $36.9M+39.0% | $26.5M+11.6% | $23.8M-18.3% | $29.1M+8.1% | $26.9M+119.1% | $12.3M-44.7% | $22.2M+29.0% | $17.2M+2.5% | $16.8M-2.2% | $17.2M+1.6% | $16.9M-6.0% | $18.0M |
| Capital Expenditures | $16.0M | $1.7M-44.3% | $3.0M-79.5% | $14.9M+462.1% | $2.6M+19.9% | $2.2M-65.1% | $6.3M-47.1% | $11.9M+215.1% | $3.8M-44.4% | $6.8M+65.8% | $4.1M-6.6% | $4.4M+163.8% | $1.7M-5.1% | $1.8M+12.2% | $1.6M-33.0% | $2.3M |
| Free Cash Flow | $38.5M | -$10.0M-132.5% | $30.7M+347.4% | $6.9M-80.0% | $34.2M+40.7% | $24.3M+39.4% | $17.4M+1.8% | $17.1M-25.8% | $23.1M+323.0% | $5.5M-69.8% | $18.1M+41.3% | $12.8M-15.3% | $15.1M-1.9% | $15.4M+0.5% | $15.3M-1.9% | $15.6M |
| Investing Cash Flow | $31.8M | $129.9M+191.4% | -$142.1M+31.1% | -$206.1M+56.0% | -$467.9M-3.4% | -$452.6M-252.4% | -$128.5M+2.6% | -$131.9M-2042.9% | $6.8M+108.2% | -$83.0M-22.4% | -$67.8M-243.6% | $47.2M | N/A | -$78.1M+5.6% | -$82.8M+2.0% | -$84.5M |
| Financing Cash Flow | -$19.6M | $159.9M-58.6% | $386.1M-0.4% | $387.6M+53.6% | $252.3M-35.0% | $388.5M+15.3% | $336.9M+696.6% | $42.3M-24.8% | $56.3M-37.9% | $90.6M+243.2% | $26.4M+136.8% | -$71.7M | N/A | $36.2M-8.8% | $39.7M-70.4% | $134.1M |
| Dividends Paid | $629K | $560K-89.1% | $5.1M-30.4% | $7.4M+7.5% | $6.9M+7.3% | $6.4M+2.6% | $6.2M+7.4% | $5.8M+3.0% | $5.6M+8.2% | $5.2M+7.0% | $4.9M+5.2% | $4.6M+4.8% | $4.4M-6.7% | $4.7M-21.1% | $6.0M+10.6% | $5.4M |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $0 | $0-100.0% | $54K | $0 |
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
FGBI Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | -21.7% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | -26.3%-31.9pp | 5.6%+0.6pp | 5.0%-16.1pp | 21.1%-3.2pp | 24.4%+4.2pp | 20.2%+4.6pp | 15.5%-2.6pp | 18.1%+0.7pp | 17.4%-6.7pp | 24.1%-1.8pp | 25.9%+4.8pp | 21.1%+3.1pp | 18.0%-3.9pp | 21.9%+7.1pp | 14.7% |
| Return on Equity | -24.8%-29.6pp | 4.9%+1.2pp | 3.7%-8.6pp | 12.3%+0.1pp | 12.2%+0.8pp | 11.4%+2.8pp | 8.6%-1.1pp | 9.7%+1.5pp | 8.2%-3.2pp | 11.3%-0.9pp | 12.3%+4.2pp | 8.0%+0.6pp | 7.4%-1.6pp | 9.0%+2.6pp | 6.3% |
| Return on Assets | -1.4%-1.7pp | 0.3%+0.1pp | 0.3%-0.7pp | 0.9%0.0pp | 0.9%+0.1pp | 0.8%+0.2pp | 0.7%-0.1pp | 0.8%+0.1pp | 0.7%-0.3pp | 0.9%-0.1pp | 1.0%+0.3pp | 0.7%+0.1pp | 0.6%-0.2pp | 0.9%+0.3pp | 0.6% |
| Debt-to-Equity | 0.790.0x | 0.76-0.1x | 0.84+0.7x | 0.160.0x | 0.19-0.1x | 0.340.0x | 0.38+0.1x | 0.230.0x | 0.260.0x | 0.300.0x | 0.34+0.3x | 0.010.0x | 0.000.0x | 0.010.0x | 0.03 |
| FCF Margin | -4.7%-18.5pp | 13.8%+10.1pp | 3.8%-21.3pp | 25.1%+3.3pp | 21.7%+4.4pp | 17.3%-1.4pp | 18.7%-10.8pp | 29.5%+21.4pp | 8.1%-22.9pp | 30.9%+8.1pp | 22.9%-5.5pp | 28.4%-1.9pp | 30.3%+2.5pp | 27.8%-0.9pp | 28.6% |
Not reported in any period shown, so not listed: Gross Margin, Current Ratio.
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Where First Guaranty Ranks
Frequently Asked Questions
What is First Guaranty's annual revenue?
First Guaranty (FGBI) reported $213.3M in total revenue for fiscal year 2025. This represents a -3.8% 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 Guaranty's revenue growing?
First Guaranty (FGBI) revenue declined by 3.8% year-over-year, from $221.7M to $213.3M in fiscal year 2025.
Is First Guaranty profitable?
No, First Guaranty (FGBI) reported a net income of -$56.0M in fiscal year 2025, with a net profit margin of -26.3%.
What is First Guaranty's EBITDA?
First Guaranty (FGBI) had EBITDA of -$41.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does First Guaranty have?
As of fiscal year 2025, First Guaranty (FGBI) had $845.7M in cash and equivalents against $179.0M in long-term debt.
What is First Guaranty's operating margin?
First Guaranty (FGBI) had an operating margin of -21.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is First Guaranty's net profit margin?
First Guaranty (FGBI) had a net profit margin of -26.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does First Guaranty pay dividends?
Yes, First Guaranty (FGBI) paid $0.04 per share in dividends during fiscal year 2025.
What is First Guaranty's return on equity (ROE)?
First Guaranty (FGBI) has a return on equity of -24.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is First Guaranty's free cash flow?
First Guaranty (FGBI) recorded an outflow of $10.0M in free cash flow during fiscal year 2025. This represents a -132.5% 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 Guaranty's operating cash flow?
First Guaranty (FGBI) recorded an outflow of $8.3M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are First Guaranty's total assets?
First Guaranty (FGBI) had $4.1B in total assets as of fiscal year 2025, including both current and long-term assets.
What are First Guaranty's capital expenditures?
First Guaranty (FGBI) invested $1.7M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is First Guaranty's debt-to-equity ratio?
First Guaranty (FGBI) had a debt-to-equity ratio of 0.79 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is First Guaranty's return on assets (ROA)?
First Guaranty (FGBI) had a return on assets of -1.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is First Guaranty's Piotroski F-Score?
First Guaranty (FGBI) has a Piotroski F-Score of 2 out of 7 computable signals; 2 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 Guaranty's earnings high quality?
First Guaranty (FGBI) reported a net loss of $56.0M while operations used $8.3M 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.
Can First Guaranty cover its interest payments?
First Guaranty (FGBI) reported an operating loss of $46.2M against $126.3M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is First Guaranty?
First Guaranty (FGBI) scores 10 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.