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FIRST CITIZENS BANCSHARES INC /DE/

FCNCACIK 0000798941

Compare:JPM BAC WFC C PNC TFC USB HBAN

Compare FCNCA

Operating performance

5 years of operating performance (2021 - 2025)

Revenue-like income, profitability, and capital strength are shown together so you can see scale, margin conversion, and balance-sheet capacity on one screen.

Income statement Cash flow

Five-year trend

Revenue
Pretax Income
Tangible Equity

Revenue

-2.2% YoY

$9.5B

FY 2025-2.2%

Open

Pretax Income

-17.3% YoY

$3B

FY 2025-17.3%

Open

Compound growth

Annualised change across the filed history.

Tangible Equity CAGR 5Y

41.5%

Pretax Income CAGR 3Y

29.7%

Directional read

Filing-backed read on scale, profitability, and capital strength.

Net margin compressed 5.3 pts versus the prior fiscal year.
Tangible equity grew 0.3% versus the prior fiscal year.

Operating performance

5 years of operating performance (2021 - 2025)

Revenue-like income, profitability, and capital strength are shown together so you can see scale, margin conversion, and balance-sheet capacity on one screen.

Income statement Cash flow

Five-year trend

Revenue
Pretax Income
Tangible Equity

Revenue

-2.2% YoY

$9.5B

FY 2025-2.2%

Open

Pretax Income

-17.3% YoY

$3B

FY 2025-17.3%

Open

Compound growth

Annualised change across the filed history.

Tangible Equity CAGR 5Y

41.5%

Pretax Income CAGR 3Y

29.7%

Directional read

Filing-backed read on scale, profitability, and capital strength.

Net margin compressed 5.3 pts versus the prior fiscal year.
Tangible equity grew 0.3% versus the prior fiscal year.

Valuation snapshot

Balance-sheet-first valuation context

Standard EV and DCF frameworks are intentionally de-emphasized here. For banks and insurers, book value, tangible book, ROE, and operating efficiency are more informative than generic cash-flow multiples.

Current price

$2,208.49

Live quote snapshot · Sep 04, 2026

Market cap

$25.9B

FY 2025 · filed Feb 24, 2026

Price / Book

1.16x

Market cap divided by common equity.

Price / Tangible Book

1.19x

Market cap divided by tangible equity.

Valuation snapshot

Balance-sheet-first valuation context

Current price

$2,208.49

Live quote snapshot · Sep 04, 2026

Market cap

$25.9B

FY 2025 · filed Feb 24, 2026

Price / Book

1.16x

Market cap divided by common equity.

Price / Tangible Book

1.19x

Market cap divided by tangible equity.

Market context

Current price and fair-value anchors

Live quote snapshot · Sep 04, 2026

Current vs Fair Value

Current price stacked against the same public-equity anchors shown in the confidence-gated hero.

Current Price$2,208.49

Peer Fair Value$4,417.70

How to read this

Only the peer fair value and the filing-backed DCF feed this section.
When both qualify, the confidence-gated target appears alongside them as the published overview read.
Open the math breakdown on any anchor for the underlying bridge.

Capital structure

Cash, debt, and carrying capacity

The overview keeps the capital structure bridge close to the cash-generation picture so fair value can be read in equity terms.

FCNCA enterprise value

Balance sheet

FY 2025 · filed Feb 24, 2026

Cash & Securities

Cash, cash equivalents, and marketable securities.

—

Total Debt

Current and long-term debt.

$36B

Net Cash / Debt

Cash and securities less total debt.

—

Equity

Reported stockholders' equity.

$22.2B

Tangible Equity

Equity less goodwill and other intangibles.

$21.7B

Net cash or debt is unavailable because complete debt and cash evidence is required to bridge enterprise value into equity value.

Liquidity and Capital

Bank pages emphasize liquidity reserves and capital buffers instead of capex-derived free cash flow.

Operating Cash Flow

Reported annual operating cash flow from the filing-backed cash flow statement.

$2.9B

Equity / Assets

9.7%

Tangible Equity / Assets

9.4%

Operating cash flow covered 133% of net income in the latest annual filing.
Tangible equity covered 9.4% of assets, a more decision-useful bank capital read than generic free-cash-flow math.

Quality and risk

Capital quality and operating efficiency

Bank pages swap generic distress models for book-value, capital-quality, and efficiency signals.

Capital quality

Equity-capital and profitability signals for regulated balance-sheet businesses.

Price / Book

Market cap divided by common equity.

1.16x

Price / Tangible Book

Market cap divided by tangible equity.

1.19x

Return on Equity

Net income divided by equity.

9.9%

Efficiency Ratio

Noninterest expense divided by revenue-like income.

222.1%

Peer context

Saved comparables and what they imply

The overview keeps peer evidence concise here and sends detailed bridging to the relative-valuation tab.

Open relative valuation

Peer fair value

$4,417.70

Per-share fair value from the weighted peer set.

Average P/E

15.34x

Price to earnings across covered peers.

Average P/S

5.93x

Price to sales across covered peers.

Average EV/EBITDA

—

Enterprise multiple across covered peers.

Comparable companies

8 peers across 2 active peer methods

CompanyPriceCapP/EEV/EBITDA

JPMORGAN CHASE & CO

JPM · CIK 0000019617

$358.64

$953.3B

16.71x

—

Cap $953.3BP/E 16.71xEV/EBITDA —

Bank valuation metrics

Equity-base metrics for FIRST CITIZENS BANCSHARES INC /DE/ (FCNCA) — deposits make a standard EV bridge meaningless for banks.

Guide

Price / book

Market cap divided by reported book value.

1.16x

Price / tangible book

Book value after goodwill and intangibles.

1.19x

Return on equity

Net income divided by book value.

9.9%

Book value

Total assets less total liabilities.

$22B

FIRST CITIZENS BANCSHARES INC /DE/

FIRST CITIZENS BANCSHARES INC /DE/

5 years of operating performance (2021 - 2025)

Five-year trend

Compound growth

Directional read

5 years of operating performance (2021 - 2025)

Five-year trend

Compound growth

Directional read

Balance-sheet-first valuation context

Balance-sheet-first valuation context

Current price and fair-value anchors

Current vs Fair Value

Cash, debt, and carrying capacity

Balance sheet

Liquidity and Capital

Capital quality and operating efficiency

Capital quality

Saved comparables and what they imply

Comparable companies

DCF range and implied growth

Filing and research context

Bank valuation metrics