First Financial Bankshares, Inc. (FFIN) Key Metrics
FFIN valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $4.37B
- Enterprise value
- $3.96B
- P/E (TTM)
- 16.3 10-yr median 25.2
- Forward P/E
- 24.6
- PEG ratio
- 2.55
- Price / sales
- 6.5 10-yr median 9.4
- Price / book
- 2.3 10-yr median 3.4
- EV / EBITDA
- — 10-yr median 5.1
- Dividend yield
- 2.89% $0.88 a year
- Beta
- 0.83
FFIN key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsFFIN valuation Price multiples at each fiscal year-end price.
FFIN returns How much profit the business earns on the capital it uses.
FFIN per-share figures Results divided by the shares outstanding at year-end.
FFIN financial health Debt, liquidity and how easily interest is covered.
FFIN efficiency & capital use Working capital cycle and where the cash goes.
FFIN valuation history
FFIN returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
FFIN debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
FFIN cash returned to shareholders
FFIN price vs earnings per share
FFIN key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $4.29B | $5.16B | $4.33B | $4.93B | $7.28B | $5.16B | $4.79B | $3.92B | $2.99B | $2.99B |
| Enterprise value | $3.23B | $4.31B | −$534.2M | −$236.2M | $846.3M | $463.8M | $1.47B | $981.8M | −$142.4M | $317.7M |
| P/E ratio | 16.9 | 23.1 | 21.8 | 21.0 | 32.0 | 25.5 | 29.0 | 26.0 | 24.8 | 28.5 |
| Price / sales | 5.2 | 7.0 | 6.8 | 8.9 | 14.4 | 10.5 | 11.5 | 10.2 | 9.1 | 9.7 |
| Price / book | 2.2 | 3.2 | 2.9 | 3.9 | 4.1 | 3.1 | 3.9 | 3.7 | 3.2 | 3.6 |
| Price / free cash flow | 14.0 | 17.6 | 16.2 | 16.0 | 21.8 | 26.5 | 24.5 | 23.2 | 17.0 | 21.3 |
| Price / operating cash flow | 13.4 | 16.7 | 15.2 | 15.2 | 20.6 | 24.5 | 23.4 | 21.0 | 15.7 | 18.6 |
| EV / sales | 3.9 | 5.8 | -0.8 | -0.4 | 1.7 | 0.9 | 3.5 | 2.6 | -0.4 | 1.0 |
| EV / EBITDA | 10.0 | 15.1 | — | — | 3.0 | 1.8 | 7.0 | 5.1 | — | 2.2 |
| EV / free cash flow | 10.5 | 14.7 | — | — | 2.5 | 2.4 | 7.5 | 5.8 | — | 2.3 |
| Earnings yield | 5.9% | 4.3% | 4.6% | 4.8% | 3.1% | 3.9% | 3.4% | 3.8% | 4.0% | 3.5% |
| Free cash flow yield | 7.2% | 5.7% | 6.2% | 6.3% | 4.6% | 3.8% | 4.1% | 4.3% | 5.9% | 4.7% |
| Dividend yield | 2.5% | 2.0% | 2.3% | 1.9% | 1.1% | 1.4% | 1.3% | 1.4% | 1.6% | 1.5% |
| Shareholder yield (dividends + buybacks) | 2.5% | 2.0% | 2.4% | 2.0% | 1.1% | 1.5% | 1.3% | 1.4% | 1.6% | 1.5% |
| Share price at fiscal year-end | $29.87 | $36.05 | $30.30 | $34.40 | $50.84 | $36.17 | $35.10 | $28.84 | $22.52 | $22.60 |
| Per share | ||||||||||
| Revenue per share | $5.76 | $5.16 | $4.44 | $3.85 | $3.53 | $3.45 | $3.06 | $2.82 | $2.48 | $2.34 |
| Earnings per share | $1.77 | $1.56 | $1.39 | $1.64 | $1.59 | $1.42 | $1.21 | $1.11 | $0.91 | $0.79 |
| Operating cash flow per share | $2.23 | $2.16 | $1.99 | $2.26 | $2.47 | $1.48 | $1.50 | $1.37 | $1.43 | $1.22 |
| Free cash flow per share | $2.14 | $2.05 | $1.87 | $2.15 | $2.33 | $1.36 | $1.43 | $1.24 | $1.33 | $1.06 |
| Cash per share | $7.51 | $7.35 | $36.86 | $40.54 | $49.62 | $35.93 | $27.08 | $25.07 | $26.09 | $23.57 |
| Book value per share | $13.36 | $11.22 | $10.49 | $8.84 | $12.29 | $11.77 | $9.00 | $7.75 | $6.96 | $6.34 |
| Tangible book value per share | $11.18 | $9.02 | $8.29 | $6.64 | $10.08 | $9.54 | $6.47 | $6.46 | $5.89 | $5.25 |
| Dividends per share | $0.74 | $0.72 | $0.70 | $0.64 | $0.56 | $0.49 | $0.45 | $0.40 | $0.37 | $0.34 |
| Capex per share | $0.09 | $0.12 | $0.12 | $0.11 | $0.13 | $0.12 | $0.06 | $0.13 | $0.11 | $0.15 |
| Debt per share | $0.15 | $1.38 | $2.83 | $4.49 | $4.69 | $3.02 | $2.80 | $3.45 | $2.50 | $3.37 |
| Shares outstanding | 143.5M | 143.2M | 142.9M | 143.2M | 143.1M | 142.5M | 136.3M | 136.0M | 132.6M | 132.2M |
| Change in shares outstanding | +0.2% | +0.2% | −0.2% | +0.1% | +0.4% | +4.5% | +0.3% | +2.5% | +0.3% | +1.6% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 14.4% | 14.4% | 14.4% | 15.5% | 13.2% | 13.9% | 14.5% | 15.2% | 13.7% | 12.8% |
| Return on invested capital (ROIC) | 31.5% | — | — | — | — | — | — | — | — | — |
| Return on assets (ROA) | 1.7% | 1.7% | 1.5% | 1.8% | 1.9% | 2.1% | 2.1% | 2.0% | 1.7% | 1.6% |
| Return on tangible assets | 1.7% | 1.6% | 1.6% | 1.9% | 1.8% | 1.9% | 2.1% | 2.0% | 1.7% | 1.6% |
| Free cash flow margin | 37.2% | 39.6% | 42.2% | 55.9% | 66.1% | 39.5% | 46.9% | 44.0% | 53.6% | 45.4% |
| Income quality (OCF / net income) | 1.26 | 1.39 | 1.43 | 1.38 | 1.55 | 1.04 | 1.24 | 1.24 | 1.58 | 1.53 |
| Financial health | ||||||||||
| Total debt | $21.7M | $197.0M | $404.1M | $642.5M | $671.2M | $430.1M | $381.4M | $468.7M | $331.0M | $445.8M |
| Cash & short-term investments | $1.08B | $1.05B | $5.27B | $5.81B | $7.10B | $5.12B | $3.69B | $3.41B | $3.46B | $3.12B |
| Net debt | −$1.06B | −$855.4M | −$4.87B | −$5.16B | −$6.43B | −$4.69B | −$3.31B | −$2.94B | −$3.13B | −$2.67B |
| Debt / equity | 0.01 | 0.12 | 0.27 | 0.51 | 0.38 | 0.26 | 0.31 | 0.44 | 0.36 | 0.53 |
| Debt / assets | 0.00 | 0.01 | 0.03 | 0.05 | 0.05 | 0.04 | 0.05 | 0.06 | 0.05 | 0.07 |
| Net debt / EBITDA | −3.27 | −3.00 | −20.00 | −17.58 | −22.56 | −18.39 | −15.79 | −15.42 | −19.55 | −18.10 |
| Current ratio | 0.68 | 0.09 | 0.46 | 0.50 | 0.63 | 0.56 | 0.53 | 1.64 | 1.64 | 1.42 |
| Quick ratio | 0.68 | 0.09 | 0.46 | 0.50 | 0.63 | 0.56 | 0.53 | 1.64 | 1.64 | 1.42 |
| Interest coverage | 1.5 | 1.3 | 1.7 | 8.9 | 45.0 | 17.0 | 6.6 | 9.4 | 15.8 | 24.9 |
| Working capital | −$4.37B | −$11.12B | −$6.25B | −$5.82B | −$4.11B | −$4.00B | −$3.29B | $1.67B | $1.52B | $1.09B |
| Invested capital | $861.0M | $751.2M | −$3.37B | −$3.90B | −$4.67B | −$3.01B | −$2.08B | −$1.89B | −$2.21B | −$1.83B |
| Tangible asset value | $1.60B | $1.29B | $1.18B | $950.2M | $1.44B | $1.36B | $882.0M | $878.6M | $781.6M | $694.3M |
| Net current asset value | −$4.37B | −$11.32B | −$6.34B | −$5.90B | −$4.24B | −$4.10B | −$3.34B | −$2.41B | −$2.43B | −$2.29B |
| Graham number | $23.05 | $19.84 | $18.12 | $18.04 | $20.97 | $19.38 | $15.65 | $13.90 | $11.92 | $10.63 |
| Graham net-net per share | −$44.69 | −$79.04 | −$44.34 | −$41.22 | −$29.62 | −$28.79 | −$1.43 | −$2.40 | −$2.11 | −$2.66 |
| Capital allocation | ||||||||||
| Dividends paid | $106.0M | $102.9M | $100.0M | $91.3M | $79.7M | $70.3M | $61.1M | $53.9M | $49.0M | $44.9M |
| Share buybacks (net) | $0 | $0 | $2.7M | $9.4M | $0 | $8.0M | $0 | $0 | $0 | $0 |
| Dividend payout ratio | 41.8% | 46.0% | 50.2% | 38.9% | 35.0% | 34.8% | 37.0% | 35.8% | 40.7% | 42.9% |
| Dividends + buybacks / free cash flow | 34.5% | 35.1% | 38.4% | 32.7% | 23.9% | 40.3% | 31.2% | 31.9% | 27.8% | 32.0% |
| Capex / revenue | 1.6% | 2.3% | 2.7% | 2.9% | 3.8% | 3.3% | 2.1% | 4.6% | 4.3% | 6.6% |
| Capex / operating cash flow | 4.2% | 5.4% | 6.1% | 4.9% | 5.4% | 7.8% | 4.2% | 9.5% | 7.4% | 12.7% |
| Capex / depreciation | 0.98 | 1.25 | 1.37 | 1.24 | 1.47 | 1.29 | 0.74 | 1.41 | 1.10 | 1.76 |
| Stock-based compensation / revenue | 0.8% | 0.7% | 0.7% | 0.7% | 0.6% | 0.7% | 0.7% | 0.7% | 0.8% | 0.5% |
| SG&A / revenue | 26.0% | 22.4% | 23.3% | 26.0% | 29.8% | 28.7% | 29.2% | 29.8% | 31.2% | 31.9% |
| Efficiency | ||||||||||
| Days sales outstanding | 3,559.3 | — | — | — | — | — | 3,552.8 | 3,511.3 | 3,770.8 | 3,923.0 |
| Days of inventory on hand | — | — | — | — | 97.5 | 6.2 | 8.8 | 15.6 | 25.1 | 14.8 |
| Days payables outstanding | 20,934.1 | — | — | 39,552.6 | 393,851.9 | 167.3 | 168.5 | 199.0 | 282.5 | 261.6 |
| Cash conversion cycle (days) | -17,374.8 | — | — | — | — | — | 3,393.1 | 3,328.0 | 3,513.4 | 3,676.2 |
| Receivables turnover | 0.10 | — | — | — | — | — | 0.10 | 0.10 | 0.10 | 0.09 |
| Payables turnover | 0.02 | — | — | 0.01 | 0.00 | 2.18 | 2.17 | 1.83 | 1.29 | 1.40 |
| Inventory turnover | — | — | — | — | 3.74 | 58.66 | 41.70 | 23.32 | 14.54 | 24.65 |
| Asset turnover | 0.06 | 0.05 | 0.05 | 0.04 | 0.04 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 |
| Average receivables | $8.05B | — | — | — | — | — | $4.06B | $3.69B | $3.40B | $3.32B |
| Average payables | $13.35B | — | — | $5.30B | $5.29B | $15.5M | $15.3M | $13.4M | $12.2M | $11.2M |
| Average inventory | — | — | — | — | $1.3M | $575,500 | $793,000 | $1.1M | $1.1M | $635,500 |
| Intangibles / total assets | 2.0% | 2.2% | 2.4% | 2.4% | 2.4% | 2.9% | 4.2% | 2.3% | 1.9% | 2.1% |
Computed from FFIN's annual financial statements (latest annual report filed February 25, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
FFIN valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), First Financial Bankshares traded at 16.9 times earnings, against a 10-year median of 25.2. Based on the latest twelve months, the trailing P/E is 16.3 and the forward P/E is 24.6. First Financial Bankshares earned a return on equity of 14.4% and a return on invested capital of 31.5% in fiscal 2025. It ended the year with $21.7 million of debt and $1.1 billion in cash and short-term investments, a net cash position of $1.1 billion. It returned $106.0 million to shareholders: $106.0 million in dividends and $0 in share buybacks, 35% of free cash flow. The share count rose 8.5% from 132.2M to 143.5M over 9 years.
See the FFIN income statement, the FFIN chart for price history, or the FFIN stock overview for the latest quote and news.
FFIN key metrics FAQ
What is First Financial Bankshares's P/E ratio?
First Financial Bankshares's trailing P/E ratio is 16.3 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 24.6. At the end of fiscal 2025 it was 16.9, compared with a 10-year median of 25.2.
What is First Financial Bankshares's EV/EBITDA?
First Financial Bankshares's enterprise value was 10.0 times EBITDA at the end of fiscal 2025 (enterprise value $3.2 billion, EBITDA $323.3 million).
What is First Financial Bankshares's return on equity?
First Financial Bankshares's return on equity (ROE) was 14.4% in fiscal 2025: net income of $253.6 million on average shareholders' equity of $1.8 billion.
What is First Financial Bankshares's ROIC?
First Financial Bankshares's return on invested capital was 31.5% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does First Financial Bankshares have?
First Financial Bankshares had total debt of $21.7 million at the end of fiscal 2025, a debt-to-equity ratio of 0.01 and more cash than debt.
What is First Financial Bankshares's dividend yield?
First Financial Bankshares's forward dividend yield is 2.89%. First Financial Bankshares paid $106.0 million in dividends in fiscal 2025 ($0.74 per share), a payout ratio of 41.8%.
What is First Financial Bankshares's free cash flow yield?
First Financial Bankshares generated $307.1 million of free cash flow in fiscal 2025, a free cash flow yield of 7.2% on its market value at year-end ($4.3 billion).
What is First Financial Bankshares's current ratio?
First Financial Bankshares's current ratio was 0.68 at the end of fiscal 2025: current assets were 0.68 times current liabilities.