First Citizens BancShares, Inc. Series C Preferred Stock (FCNCO) Income Statement
FCNCO 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsFCNCO revenue and net income
Where FCNCO's revenue goes
2025Each bar shows an amount and its share of revenue. FCNCO kept 15.2% of revenue as net income.
FCNCO profit margins
FCNCO growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −3.0% | +41.7% | +49.9% | +27.2% |
| Gross profit | −4.2% | +30.8% | +38.3% | +21.8% |
| Operating income | −17.3% | +29.7% | +36.9% | +24.5% |
| Net income | −20.6% | +26.2% | +35.0% | +26.5% |
| EPS (diluted) | +218.2% | +33.4% | +194.9% | +26.1% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
FCNCO quarterly EPS vs estimates
First Citizens Series C Preferred beat the analyst EPS estimate in 2 of the last 2 quarters.
FCNCO income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $14.50B | $14.94B | $12.64B | $5.10B | $1.90B | $1.92B | $1.79B | $1.59B | $1.45B | $1.34B |
| Cost of revenue | $5.59B | $5.64B | $5.05B | $1.11B | $24.0M | $154.0M | $124.1M | $65.3M | $69.5M | $76.0M |
| Gross profit | $8.91B | $9.30B | $7.58B | $3.98B | $1.88B | $1.76B | $1.67B | $1.52B | $1.38B | $1.26B |
| Sales, general & admin | $4.25B | $3.51B | $3.02B | $1.68B | $783.0M | $745.0M | $703.1M | $686.9M | $642.2M | $569.3M |
| Total operating expenses | $5.94B | $5.71B | −$4.49B | $2.62B | $1.17B | $1.14B | $1.07B | $1.02B | $839.6M | $913.0M |
| Operating income | $2.97B | $3.59B | $12.08B | $1.36B | $701.0M | $618.0M | $592.0M | $503.6M | $543.7M | $351.1M |
| Interest income | $11.78B | $12.35B | $8.31B | $3.41B | $1.45B | $1.48B | $1.40B | $1.25B | — | — |
| Interest expense | $4.96B | $5.21B | $3.68B | $467.0M | $61.0M | $96.0M | $92.6M | $36.9M | $43.8M | $43.1M |
| Income before taxes | $2.97B | $3.59B | $12.08B | $1.36B | $701.0M | $618.0M | $592.0M | $503.6M | $543.7M | $351.1M |
| Income taxes | $765.0M | $815.0M | $611.0M | $264.0M | $154.0M | $126.0M | $134.7M | $103.3M | $219.9M | $125.6M |
| Net income | $2.21B | $2.78B | $11.47B | $1.10B | $547.0M | $492.0M | $457.4M | $400.3M | $323.8M | $225.5M |
| EBITDA | $3.38B | $3.72B | $12.02B | $1.90B | $844.0M | $751.0M | $719.7M | $624.0M | $657.3M | $461.7M |
| EPS (diluted) | $178.44 | $56.08 | $788.58 | $75.17 | $55.73 | $0.80 | $42.71 | $34.03 | $26.96 | $18.77 |
| Gross margin | 61.4% | 62.2% | 60.0% | 78.2% | 98.7% | 92.0% | 93.1% | 95.9% | 95.2% | 94.3% |
| Operating margin | 20.5% | 24.0% | 95.6% | 26.7% | 36.9% | 32.3% | 33.1% | 31.7% | 37.4% | 26.2% |
| Net margin | 15.2% | 18.6% | 90.7% | 21.5% | 28.8% | 25.7% | 25.5% | 25.2% | 22.3% | 16.8% |
| Sep '26 | Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.70B | $3.60B | $3.48B | $3.65B | $3.69B | $3.62B | $3.52B | $3.69B | $3.78B | $3.71B | $3.70B | $3.68B |
| Cost of revenue | $1.32B | $1.19B | $1.17B | $1.38B | $1.46B | $1.36B | $1.39B | $1.45B | $1.46B | $1.40B | $1.33B | $1.46B |
| Gross profit | $2.38B | $2.42B | $2.31B | $2.27B | $2.24B | $2.26B | $2.14B | $2.24B | $2.32B | $2.30B | $2.37B | $2.22B |
| Sales, general & admin | $1.08B | $1.11B | $1.61B | $1.41B | $955.0M | $941.0M | $946.0M | $913.0M | $898.0M | $856.0M | $844.0M | $876.0M |
| Total operating expenses | $1.57B | $1.53B | $1.61B | $1.46B | $1.49B | $1.50B | $1.49B | $1.51B | $1.45B | $1.32B | $1.37B | $1.51B |
| Operating income | $805.0M | $891.0M | $705.0M | $811.0M | $751.0M | $758.0M | $651.0M | $736.0M | $873.0M | $979.0M | $1.00B | $713.0M |
| Interest income | — | $2.85B | $2.79B | $2.94B | $3.00B | $2.94B | $2.90B | $3.00B | $3.14B | $3.13B | $3.08B | $3.12B |
| Interest expense | $1.27B | $1.20B | $1.17B | $1.22B | $1.26B | $1.25B | $1.23B | $1.29B | $1.34B | $1.31B | $1.27B | $1.21B |
| Income before taxes | $805.0M | $891.0M | $705.0M | $811.0M | $751.0M | $758.0M | $651.0M | $736.0M | $873.0M | $979.0M | $1.00B | $713.0M |
| Income taxes | $199.0M | $219.0M | $171.0M | $231.0M | $183.0M | $183.0M | $168.0M | $36.0M | $234.0M | $272.0M | $273.0M | $199.0M |
| Net income | $606.0M | $672.0M | $534.0M | $580.0M | $568.0M | $575.0M | $483.0M | $700.0M | $639.0M | $707.0M | $731.0M | $514.0M |
| EBITDA | $2.19B | $1.05B | $885.0M | $932.0M | $842.0M | $858.0M | $744.0M | $830.0M | $915.0M | $985.0M | $992.0M | $668.0M |
| EPS (diluted) | — | — | — | — | $43.08 | $42.36 | $34.47 | $49.18 | — | — | — | — |
| Gross margin | 64.3% | 67.1% | 66.5% | 62.1% | 60.6% | 62.3% | 60.7% | 60.8% | 61.4% | 62.1% | 64.1% | 60.4% |
| Operating margin | 21.8% | 24.7% | 20.3% | 22.2% | 20.3% | 20.9% | 18.5% | 20.0% | 23.1% | 26.4% | 27.1% | 19.4% |
| Net margin | 16.4% | 18.6% | 15.4% | 15.9% | 15.4% | 15.9% | 13.7% | 19.0% | 16.9% | 19.1% | 19.7% | 14.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in FCNCO's financial statements (latest annual report filed February 24, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
FCNCO financial results
In fiscal year 2025 (ended December 31, 2025), First Citizens Series C Preferred reported revenue of $14.5 billion, down 3.0% from the year before. It had net income of $2.2 billion (down 20.6%), a net profit margin of 15.2%. Diluted earnings per share came to $178.44. Over five years revenue grew at an average rate of 49.9% a year.
See the FCNCO stock overview for the latest quote and news, or the FCNCO chart for price history and technical indicators.
FCNCO income statement FAQ
What is First Citizens Series C Preferred's annual revenue?
First Citizens Series C Preferred reported total revenue of $14.5 billion for fiscal year 2025, which ended on December 31, 2025. That was down 3.0% from $14.9 billion the previous year.
Is First Citizens Series C Preferred profitable?
Yes. First Citizens Series C Preferred reported net income of $2.2 billion in fiscal 2025, a net profit margin of 15.2%; its operating margin was 20.5%.
What is First Citizens Series C Preferred's gross margin?
First Citizens Series C Preferred's gross margin was 61.4% in fiscal 2025: for every $100 of revenue, First Citizens Series C Preferred kept $61 after the direct cost of its products and services.
How fast is First Citizens Series C Preferred growing?
Revenue grew 49.9% a year on average over the last five fiscal years, from $1.9 billion to $14.5 billion.
What are First Citizens Series C Preferred's earnings per share?
First Citizens Series C Preferred earned $178.44 per diluted share in fiscal 2025, compared with $56.08 a year earlier.
When does First Citizens Series C Preferred's fiscal year end?
First Citizens Series C Preferred's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 24, 2026.