Valuation, from the filing
| Public float | $17.26B | Market value of stock held by non-affiliates, as stated on the cover page for 2025-06-30 |
|---|---|---|
| Float / net income | 7.8× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / revenue | 1.8× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / equity | 0.8× | 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
7.8× earnings today, against a median of 6.7× across 4 years on record. Above its own history.
| Float measured | Public float | Float / net income | |
|---|---|---|---|
| 2025-06-30 | $17.26B | 7.8× | |
| 2024-06-30 | $17.29B | 6.2× | |
| 2023-06-30 | $14.26B | 1.2× | |
| 2022-06-30 | $7.87B | 7.2× |
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 | |
|---|---|---|---|
| Long-term debt / equity | 1.61x | 100th | |
| SBC / revenue | 0.0% | 0th | |
| FCF margin | 23.2% | 12th | |
| Effective tax rate | 25.7% | 86th | |
| Revenue YoY growth | -2.2% | 21th | |
| Net margin | 23.1% | 27th | |
| CapEx / revenue | 7.4% | 44th |
FIRST CITIZENS BANCSHARES INC /DE/ (FCNCA) reported revenue of $9.62B and net income of $2.35B for the fiscal year ended 2026-06-30. This page shows 1 annual period of income statement, balance sheet and cash flow figures normalized from FIRST CITIZENS BANCSHARES INC /DE/’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 | 2026-06-30 |
|---|---|
| Revenue | $9.62B |
| Cost of revenue | Unavailable |
| Gross profit | Unavailable |
| Operating income | Unavailable |
| Net income | $2.35B |
| Research & development | Unavailable |
| Weighted-average diluted shares | Unavailable |
| Pretax income | $3.16B |
| Income tax expense | $804.00M |
| Diluted EPS | Unavailable |
| Selling, general & administrative | Unavailable |
| General & administrative | Unavailable |
| Selling & marketing | Unavailable |
Balance
| Metric | 2026-06-30 |
|---|---|
| Cash & equivalents | Unavailable |
| Total assets | $236.84B |
| Current assets | Unavailable |
| Total liabilities | $214.94B |
| Current liabilities | Unavailable |
| Total equity incl. NCI | $21.90B |
| Temporary (mezzanine) equity | Unavailable |
| Inventory | Unavailable |
| Accounts receivable | Unavailable |
| Goodwill | $346.00M |
| Long-term debt | $32.04B |
| Accounts payable | Unavailable |
Cash flow
| Metric | 2026-06-30 |
|---|---|
| Operating cash flow | $3.18B |
| Capital expenditures | $724.00M |
| Investing cash flow | -$7.46B |
| Financing cash flow | $4.91B |
| Net change in cash | $630.00M |
| Stock-based compensation | Unavailable |
| Common dividends paid | $185.00M |
| Common share repurchases | $3.30B |
| Depreciation & amortization | $548.00M |
Derived
| Metric | 2026-06-30 |
|---|---|
| Free cash flow | $2.46B |
| Gross margin | Unavailable |
| Operating margin | Unavailable |
| FCF margin | 25.6% |
| SBC / revenue | Unavailable |
| Current ratio | Unavailable |
| Revenue YoY growth | 0.9% |
| Net margin | 24.5% |
| R&D / revenue | Unavailable |
| CapEx / revenue | 7.5% |
| Long-term debt / equity | 1.46x |
| Effective tax rate | 25.5% |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open FCNCA 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.