Valuation, from the filing
| Public float | $1.80B | Market value of stock held by non-affiliates, as stated on the cover page for 2025-06-30 |
|---|---|---|
| Float per share | $43.28 | Float divided by shares outstanding in the same filing. A floor under the share price on that date, not the price itself. |
| Float / net income | 16.2× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / revenue | 26.5× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / equity | 1.1× | A lower bound on the multiple, because affiliate holdings are excluded. |
Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2025-06-30, not today, and each multiple below it uses the figures for the fiscal year ending 2025-12-31 — the year that filing covered.
Valuation over time
16.2× earnings today, against a median of 11.9× across 5 years on record. Above its own history.
| Float measured | Public float | Float / net income | |
|---|---|---|---|
| 2025-06-30 | $1.80B | 16.2× | |
| 2024-06-30 | $1.27B | 16.6× | |
| 2023-06-30 | $1.18B | 11.3× | |
| 2022-06-30 | $1.22B | 8.3× | |
| 2021-06-30 | $1.14B | 11.9× |
Each float is paired with the fiscal year the filing that stated it covers. Only years where the company reported positive net income appear, because a multiple against a loss is not a multiple.
How this compares in its industry
Percentile among the State Commercial Banks filers on this site, highest value first. A high percentile means a large figure, which is good for a margin and not for leverage — the ranking says where the company sits, not whether that is where it should be.
| Measure | Reported | Percentile | |
|---|---|---|---|
| Revenue YoY growth | -3.6% | 13th | |
| Long-term debt / equity | 0.05x | 15th | |
| CapEx / revenue | 6.3% | 39th | |
| FCF margin | 294.1% | 61th | |
| Effective tax rate | 20.4% | 41th | |
| SBC / revenue | 5.6% | 46th | |
| Net margin | 164.2% | 50th |
FIRST BANCORP /NC/ (FBNC) reported revenue of $67.62M and net income of $111.05M for the fiscal year ended 2025-12-31. This page shows 5 annual periods of income statement, balance sheet and cash flow figures normalized from FIRST BANCORP /NC/’s SEC filings, each linked to the filing it came from. It is classified by the SEC under State Commercial Banks.
Banks, brokers and insurers present a top line that is not comparable with an operating company’s revenue: it is reported net of interest expense, or as premiums earned, depending on the filer. The figures are the filer’s own and are traceable to the filing; the comparison across classes is what does not hold.
Income
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | $67.62M | $70.12M | $32.82M | $17.45M | $25.32M |
| Cost of revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Gross profit | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Operating income | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Net income | $111.05M | $76.22M | $104.13M | $146.94M | $95.64M |
| Research & development | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Weighted-average diluted shares | shares 41.45M | shares 41.33M | shares 41.16M | shares 35.67M | shares 30.03M |
| Pretax income | $139.50M | $98.12M | $131.96M | $185.22M | $120.32M |
| Income tax expense | $28.45M | $21.90M | $27.82M | $38.28M | $24.68M |
| Diluted EPS | $2.68 | $1.84 | $2.53 | $4.12 | $3.19 |
| Selling, general & administrative | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| General & administrative | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Selling & marketing | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Balance
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Cash & equivalents | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Total assets | $12.67B | $12.15B | $12.11B | $10.63B | $10.51B |
| Current assets | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Total liabilities | $11.01B | $10.70B | $10.74B | $9.59B | $9.28B |
| Current liabilities | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Total equity incl. NCI | $1.65B | $1.45B | $1.37B | $1.03B | $1.23B |
| Temporary (mezzanine) equity | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Inventory | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Accounts receivable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Goodwill | $478.75M | $478.75M | $478.75M | $364.26M | $364.26M |
| Long-term debt | $74.57M | $91.88M | $630.16M | $287.51M | $67.39M |
| Accounts payable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Cash flow
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Operating cash flow | $203.13M | $174.78M | $131.40M | $230.65M | $142.34M |
| Capital expenditures | $4.24M | $2.66M | $4.42M | $5.29M | $9.40M |
| Investing cash flow | -$562.07M | $169.67M | -$191.36M | -$713.36M | -$1.27B |
| Financing cash flow | $161.03M | -$74.80M | $27.51M | $291.86M | $1.23B |
| Net change in cash | -$197.91M | $269.65M | -$32.46M | -$190.84M | $93.87M |
| Stock-based compensation | $3.76M | $4.92M | $5.12M | $2.98M | $2.27M |
| Common dividends paid | $37.28M | $36.25M | $34.94M | $30.66M | $22.23M |
| Common share repurchases | $991.00K | $0 | $0 | $0 | $4.04M |
| Depreciation & amortization | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Derived
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free cash flow | $198.89M | $172.12M | $126.98M | $225.37M | $132.93M |
| Gross margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Operating margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| FCF margin | 294.1% | 245.5% | 386.9% | 1291.6% | 524.9% |
| SBC / revenue | 5.6% | 7.0% | 15.6% | 17.1% | 9.0% |
| Current ratio | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Revenue YoY growth | -3.6% | 113.7% | 88.1% | -31.1% | Unavailable |
| Net margin | 164.2% | 108.7% | 317.3% | 842.1% | 377.7% |
| R&D / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| CapEx / revenue | 6.3% | 3.8% | 13.5% | 30.3% | 37.1% |
| Long-term debt / equity | 0.05x | Unavailable | Unavailable | Unavailable | Unavailable |
| Effective tax rate | 20.4% | 22.3% | 21.1% | 20.7% | 20.5% |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open FBNC in the interactive workspace to inspect any figure back to its filing.
Source filings
Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.