First Financial Bankshares Inc. (FFIN) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.5	$0.5	0.0%	—	$169.5M	—
Q1 26	$0.47	$0.5	+6.4%	—	$163.5M	—
Q4 25	$0.48	$0.51	+6.3%	—	$161.2M	—
Q3 25	$0.47	$0.36	-23.4%	—	$157.5M	—
Q2 25	$0.44	$0.47	+6.8%	—	$153M	—
Q1 25	$0.43	$0.43	0.0%	—	$145.4M	—
Q4 24	$0.4	$0.43	+7.5%	—	$143.6M	—
Q3 24	$0.39	$0.39	0.0%	—	$136M	—
Q2 24	$0.36	$0.37	+2.8%	—	$131.1M	—
Q1 24	$0.35	$0.28	-20.0%	—	$126.3M	—
Q4 23	$0.34	$0.32	-5.9%	—	$116.1M	—
Q3 23	$0.36	$0.35	-2.8%	—	$118.7M	—
Q2 23	$0.36	$0.36	0.0%	—	$122.4M	—
Q1 23	$0.39	$0.37	-5.1%	—	$120.9M	—
Q4 22	$0.41	$0.41	0.0%	—	$129.3M	—
Q3 22	$0.41	$0.41	0.0%	—	$130.8M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$1.77	—	—	$617.1M	—
FY24	—	$1.56	—	—	$537M	—
FY23	—	$1.39	—	—	$478M	—
FY22	—	$1.64	—	—	$519.8M

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$303.8M	$319.4M	$364.5M	$387M	$477.7M	$499.6M	$519.8M	$478M	$537M	$617.1M
YoY change	+7.09%	+5.14%	+14.1%	+6.17%	+23.5%	+4.58%	+4.05%	-8.04%	+12.3%	+14.9%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	303.8M	319.4M	364.5M	387M	477.7M	499.6M	519.8M	478M	537M	617.1M
Cost of revenue	—	—	—	—	—	—	—	—	—	—
Gross profit	—	—	—	—	—	—	—	—	—	—
Gross margin	—	—	—	—	—	—	—	—	—	—
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	98.5M	102.6M	114.4M	121.7M	141.2M	150.6M	143.2M	145M	165.6M	187.6M
Operating expenses	98.5M	102.6M	114.4M	121.7M	141.2M	150.6M	143.2M	145M	165.6M	187.6M
Operating income	—	—	—	—	—	—	—	—	—	—
Operating margin	—	—	—	—	—	—	—	—	—	—
Non-operating income, net	—	—	—	—	—	—	—	—	—	—
Pretax income	135.9M	147.2M	178.2M	198M	242.4M	272M	280.9M	243.3M	271.8M	309.6M
Income tax	31.2M	26.8M	27.5M	33.2M	40.3M	44.4M	46.4M	44.3M	48.3M	56M
Net income	104.8M	120.4M	150.6M	164.8M	202M	227.6M	234.5M	199M	223.5M	253.6M
Net margin	34.5%	37.7%	41.3%	42.6%	42.3%	45.6%	45.1%	41.6%	41.6%	41.1%
EBITDA	—	—	—	—	—	—	—	—	—	—
EPS	0.8	0.91	1.11	1.22	1.42	1.6	1.64	1.39	1.56	1.77
Diluted EPS	0.8	0.91	1.11	1.21	1.42	1.59	1.64	1.39	1.56	1.77

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	118.7M	116.1M	126.3M	131.1M	136M	143.6M	145.4M	153M	157.5M	161.2M	163.5M	169.5M
Cost of revenue	—	—	—	—	—	—	—	—	—	—	—	—
Gross profit	—	—	—	—	—	—	—	—	—	—	—	—
Gross margin	—	—	—	—	—	—	—	—	—	—	—	—
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	35.9M	40M	40.1M	40.4M	40.5M	44.6M	45.4M	45.8M	45.8M	50.6M	49.2M	53.2M
Operating expenses	35.9M	40M	40.1M	40.4M	40.5M	44.6M	45.4M	45.8M	45.8M	50.6M	49.2M	53.2M
Operating income	—	—	—	—	—	—	—	—	—	—	—	—
Operating margin	—	—	—	—	—	—	—	—	—	—	—	—
Non-operating income, net	—	—	—	—	—	—	—	—	—	—	—	—
Pretax income	60.4M	56M	64.9M	63.6M	67.3M	76M	75.2M	81.7M	63.2M	89.5M	87.8M	87.5M
Income tax	10.8M	10M	11.5M	11.2M	12M	13.7M	13.8M	15.1M	10.9M	16.2M	16.3M	15.6M
Net income	49.6M	46M	53.4M	52.5M	55.3M	62.3M	61.3M	66.7M	52.3M	73.3M	71.5M	71.9M
Net margin	41.7%	39.6%	42.3%	40%	40.7%	43.4%	42.2%	43.6%	33.2%	45.5%	43.8%	42.4%
EBITDA	—	—	—	—	—	—	—	—	—	—	—	—
EPS	0.35	0.32	0.37	0.37	0.39	0.44	0.43	0.47	0.37	0.51	0.5	0.5
Diluted EPS	0.35	0.32	0.37	0.37	0.39	0.43	0.43	0.47	0.36	0.51	0.5	0.5

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	3B	3B	3.9B	4.8B	5.1B	7.2B	4.9B	4.3B	5.1B	4.3B	4.6B
Enterprise value	-57.1M	-482.3M	546.5M	1.1B	15.2M	153.4M	-878.7M	-924.8M	4.2B	452.6M	4.4B
Shares outstanding	132M	132.3M	135.2M	135.6M	142M	142.3M	142.6M	142.7M	142.8M	143.1M	143.1M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	28.5	24.7	25.9	28.9	25.4	31.8	20.9	21.7	23	16.9	17.4
P/S	9.82	9.33	10.7	12.3	10.8	14.5	9.44	9.04	9.59	6.92	7.3
P/B	3.56	3.23	3.7	3.88	3.06	4.11	3.88	2.88	3.2	2.23	2.31
EV/Sales	-0.19	-1.51	1.5	2.76	0.03	0.31	-1.69	-1.93	7.85	0.73	6.89
Earnings yield	3.51%	4.04%	3.86%	3.46%	3.93%	3.15%	4.78%	4.6%	4.34%	5.93%	5.76%
FCF yield	4.7%	5.91%	4.33%	4.07%	3.78%	4.64%	6.29%	6.19%	5.69%	6.69%	5.52%
PEG	—	—	—	—	—	—	—	—	—	—	2.72

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Operating margin	—	—	—	—	—	—	—	—	—	—	56%
Net margin	34.5%	37.7%	41.3%	42.6%	42.3%	45.6%	45.1%	41.6%	41.6%	41.1%	42.2%
ROE	12.5%	13%	14.3%	13.4%	12%	12.9%	18.5%	13.3%	13.9%	13.2%	14.4%
ROA	—	—	—	—	—	—	—	—	1.6%	1.64%	1.81%
Return on tangible assets	—	—	—	—	—	—	—	—	1.64%	1.68%	1.79%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Debt / equity	0.09	—	0.05	—	—	0.01	0.02	0.01	0.08	0.01	0
Debt / assets	—	—	—	—	—	—	—	—	0.01	0	0
Effective tax rate	22.9%	18.2%	15.5%	16.8%	16.6%	16.3%	16.5%	18.2%	17.8%	18.1%	18%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	2.3	2.41	2.7	2.85	3.36	3.51	3.65	3.35	3.76	4.31	4.45
EPS (basic)	0.8	0.91	1.11	1.22	1.42	1.6	1.64	1.39	1.56	1.77	1.77
EPS (diluted)	0.8	0.91	1.11	1.21	1.42	1.59	1.64	1.39	1.56	1.77	1.87
Book value per share	6.35	6.98	7.79	9.05	11.8	12.4	8.88	10.5	11.2	13.4	14
FCF per share	1.06	1.33	1.25	1.43	1.37	2.36	2.16	1.88	2.05	2	2.26
Cash per share	23.6	26.2	25.2	27.2	36.1	49.9	40.7	36.9	7.37	26.9	2.16
Capex per share	0.13	0.06	0.12	0.05	0.11	0.13	0.1	0.09	0.1	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	5.54%	2.53%	4.61%	1.66%	3.14%	3.68%	2.81%	2.82%	2.76%	—	—
Capex / operating cash flow	14.4%	5.65%	10.3%	3.52%	7.12%	7.44%	6.75%	6.18%	6.04%	—	—
Payout ratio	42.9%	40.7%	35.8%	37%	34.8%	35%	38.9%	50.2%	46%	41.8%	42.3%
Dividend yield	1.51%	1.64%	1.38%	1.28%	1.37%	1.1%	1.86%	2.31%	2%	2.48%	2.74%

Yield

2.74%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.22

ex-dividend Sep 14, 2026

Payout ratio

42%

of earnings

Dividend growth

12 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 14, 2026	$0.22
Jun 12, 2026	$0.22
Mar 13, 2026	$0.19

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$118.7M	$116.1M	$126.3M	$131.1M	$136M	$143.6M	$145.4M	$153M	$157.5M	$161.2M	$163.5M	$169.5M
YoY change	-9.25%	-10.2%	+4.51%	+7.11%	+14.6%	+23.8%	+15.1%	+16.7%	+15.8%	+12.2%	+12.5%	+10.8%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	3.1B	3.5B	3.4B	3.7B	5.1B	7.1B	5.8B	5.3B	1.1B	3.8B
Receivables	—	—	—	—	—	—	—	—	—	—
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	—	—	—	—	—	—	—	—	—	—
Property, plant & equipment	7.1M	4.3M	-1.9M	-7.1M	-6.4M	-6.6M	-11.4M	-15.7M	-18.8M	-26.8M
Goodwill & intangibles	287.2M	282.3M	349.4M	347.3M	318.4M	316.8M	315.5M	314.6M	314M	313.7M
Total assets	—	—	—	—	—	—	—	—	14B	15.4B
Accounts payable	—	—	—	—	14.6M	0	—	—	—	—
Short-term debt	—	—	—	—	—	—	—	—	—	—
Total current liabilities	—	—	—	—	—	—	—	—	—	—
Long-term debt	75M	—	55M	—	—	21.1M	21.1M	21.1M	121.1M	21.1M
Total liabilities	—	—	—	—	—	—	—	—	12.4B	13.5B
Shareholders' equity	837.9M	922.8M	1.1B	1.2B	1.7B	1.8B	1.3B	1.5B	1.6B	1.9B
Total debt	75M	—	55M	—	—	21.1M	21.1M	21.1M	121.1M	21.1M
Net debt	-180.1M	—	-195.1M	—	—	-507.5M	-309.6M	-515.5M	-642.4M	-1.1B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	5B	5.3B	5.2B	4.9B	5.2B	1.1B	3.4B	3.4B	3.6B	3.8B	920.9M	3B
Receivables	—	—	—	—	—	—	—	—	—	—	—	—
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	—	—	—	—	—	—	—	—	—	—	—	—
Property, plant & equipment	—	-15.7M	—	—	—	-18.8M	—	—	—	-26.8M	—	—
Goodwill & intangibles	314.9M	314.6M	314.5M	314.3M	314.2M	314M	313.9M	313.8M	313.7M	313.7M	313.6M	313.6M
Total assets	—	—	13.2B	13.2B	13.6B	14B	14.3B	14.4B	14.8B	15.4B	15.4B	15.3B
Accounts payable	2.5M	—	—	—	5.4M	—	—	25M	0	—	—	—
Short-term debt	—	—	—	—	—	—	—	—	—	—	—	—
Total current liabilities	—	—	—	—	—	—	—	—	—	—	—	—
Long-term debt	21.1M	21.1M	21.1M	21.1M	21.1M	121.1M	21.1M	21.1M	21.1M	21.1M	21.1M	21.1M
Total liabilities	—	—	11.7B	11.6B	11.9B	12.4B	12.6B	12.6B	13B	13.5B	13.4B	13.3B
Shareholders' equity	1.2B	1.5B	1.5B	1.5B	1.7B	1.6B	1.7B	1.7B	1.8B	1.9B	1.9B	2B
Total debt	21.1M	21.1M	21.1M	21.1M	21.1M	121.1M	21.1M	21.1M	21.1M	21.1M	21.1M	21.1M
Net debt	-367.2M	-515.5M	-566.8M	-345.5M	-562.6M	-642.4M	-894.3M	-678.6M	-618M	-1.1B	-702M	-550.7M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	104.8M	120.4M	150.6M	164.8M	202M	227.6M	234.5M	199M	223.5M	253.6M
Depreciation & amortization	11.6M	12.9M	12.5M	11.7M	12.8M	13.1M	12.8M	12.6M	13.4M	13.7M
Stock-based compensation	—	—	—	—	—	3.2M	4M	4.3M	4.9M	6.9M
Change in working capital	-246K	9.6M	-76K	6.2M	889K	-364K	-30.9M	2.8M	4.1M	-20.1M
Operating cash flow	116.8M	142.8M	162.9M	182.7M	210.5M	247M	216.1M	218.2M	245.3M	299.4M
Capital expenditure	-16.8M	-8.1M	-16.8M	-6.4M	-15M	-18.4M	-14.6M	-13.5M	-14.8M	—
Investing cash flow	-204.9M	-263.7M	-70.7M	-205.7M	-733.1M	-2.4B	211.9M	835.7M	28.8M	-738.9M
Dividends paid	-44.9M	-49M	-53.9M	-61.1M	-70.3M	-79.7M	-91.3M	-100M	-102.9M	-106M
Share repurchases	—	—	0	0	-8M	0	-9.4M	-2.7M	0	0
Financing cash flow	-43.6M	-46M	-50M	-56.8M	-78.3M	-79.7M	-100.8M	-102.7M	-102.9M	-106M
Net change in cash	-131.8M	-166.9M	42.2M	-79.8M	-600.9M	-2.2B	327.3M	951.2M	171.2M	-545.4M
Free cash flow	140.3M	176.1M	168.7M	193.8M	194.2M	335.9M	308.5M	267.6M	292.9M	286M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	49.6M	46M	53.4M	52.5M	55.3M	62.3M	61.3M	66.7M	52.3M	73.3M	71.5M	71.9M
Depreciation & amortization	3M	3.3M	3.2M	3.2M	3.5M	3.5M	3.5M	3M	3.9M	3.3M	3.6M	3.5M
Stock-based compensation	1M	1.2M	1.1M	1.1M	1.3M	1.5M	1.9M	1.5M	1.6M	1.9M	1.9M	2M
Change in working capital	-3.5M	-6M	7.6M	-2.4M	3.3M	-4.4M	2.8M	-16.2M	-12.6M	5.9M	7.3M	-7.3M
Operating cash flow	50.4M	42.4M	65.4M	54.3M	63.8M	61.3M	69.6M	54.9M	86.5M	74.9M	101.6M	83.7M
Capital expenditure	-3.3M	-3.8M	-3.9M	-5M	-1.6M	-4.4M	-2.1M	-1.5M	—	—	—	—
Investing cash flow	209.2M	195M	11.1M	68.6M	94.8M	-145.7M	-109.4M	-93M	-326.8M	-213.3M	-188M	-3M
Dividends paid	-25.7M	-25.7M	-25.7M	-25.7M	-25.7M	-25.7M	-25.8M	-25.8M	-27.2M	-27.3M	-27.2M	-27.3M
Share repurchases	-2.7M	-1K	—	—	—	0	—	—	—	—	—	—
Financing cash flow	-28.4M	-25.7M	-25.7M	-25.7M	-25.7M	-25.7M	-25.8M	-25.8M	-27.2M	-27.3M	-27.2M	-27.3M
Net change in cash	231.1M	211.6M	50.8M	97.2M	132.9M	-110.2M	-65.6M	-63.8M	-267.5M	-165.7M	-113.6M	53.5M
Free cash flow	68.7M	54.9M	71.7M	63.8M	77.7M	79.7M	74.7M	58.7M	83.7M	68.9M	97.5M	75.2M

Date	Ratio
Jun 4, 2019	2:1
Jun 3, 2014	2:1
Jun 2, 2011	3:2
Jun 2, 2005	4:3
Jun 3, 2003	125:100
Jun 4, 2001	5:4
Nov 12, 1998	11:10
Jun 3, 1997	5:4
Jun 4, 1996	5:4
Sep 13, 1995	5:4
Jun 2, 1994	5:4

First Financial Bankshares Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history