Fulton Financial Corporation (FULT) 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 %
Q1 27	$0.53	$0.6	+13.2%	—	—	—
Q4 26	$0.49	$0.55	+12.2%	—	—	—
Q3 26	$0.5	$0.55	+10.0%	—	—	—
Q2 26	$0.5	$0.55	+10.0%	—	—	—
Q1 26	$0.45	$0.55	+22.2%	—	—	—
Q4 25	$0.43	$0.52	+20.9%	—	—	—
Q3 25	$0.42	$0.48	+14.3%	—	—	—
Q2 25	$0.44	$0.5	+13.6%	—	—	—
Q1 25	$0.3	$0.47	+56.7%	—	—	—
Q4 24	$0.39	$0.4	+2.6%	—	—	—
Q3 24	$0.4	$0.42	+5.0%	—	—	—
Q2 24	$0.41	$0.42	+2.4%	—	—	—
Q1 24	$0.42	$0.46	+9.5%	—	—	—
Q4 23	$0.48	$0.39	-18.7%	—	—	—
Q3 23	$0.5	$0.47	-6.0%	—	—	—
Q2 23	$0.44	$0.4	-9.1%	—	—	—

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	—	$2.1	—	—	$1.3B	—
FY24	—	$1.59	—	—	$1.2B	—
FY23	—	$1.66	—	—	$1.1B	—
FY22	—	$1.69	—	—	$1B

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	$711M	$778.2M	$826M	$864.5M	$858.6M	$937.5M	$1B	$1.1B	$1.2B	$1.3B
YoY change	+4.27%	+9.46%	+6.13%	+4.67%	-0.69%	+9.19%	+7.6%	+7.26%	+8.95%	+11.4%

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	711M	778.2M	826M	864.5M	858.6M	937.5M	1B	1.1B	1.2B	1.3B
Cost of revenue	—	—	—	—	—	—	—	—	—	—
Gross profit	—	—	—	—	—	—	—	—	—	—
Gross margin	—	—	—	—	—	—	—	—	—	—
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	300.2M	309.2M	323M	327.7M	338.4M	345.1M	376.3M	405.5M	464.7M	473.1M
Operating expenses	300.2M	309.2M	323M	327.7M	338.4M	345.1M	376.3M	405.5M	464.7M	473.1M
Operating income	—	—	—	—	—	—	—	—	—	—
Operating margin	—	—	—	—	—	—	—	—	—	—
Non-operating income, net	—	—	—	—	—	—	—	—	—	—
Pretax income	208.2M	234.5M	233M	264M	202.2M	334.2M	347M	348.7M	344.6M	485.6M
Income tax	46.6M	62.7M	24.6M	37.6M	24.2M	58.7M	60M	64.4M	55.9M	94M
Net income	161.6M	171.8M	208.4M	226.3M	178M	275.5M	287M	284.3M	288.7M	391.6M
Net margin	22.7%	22.1%	25.2%	26.2%	20.7%	29.4%	28.4%	26.3%	24.5%	29.8%
EBITDA	—	—	—	—	—	—	—	—	—	—
EPS	0.93	0.98	1.19	1.39	1.08	1.63	1.69	1.66	1.59	2.1
Diluted EPS	0.93	0.98	1.18	1.39	1.08	1.62	1.67	1.64	1.57	2.08

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	269.8M	271.4M	264.1M	266.5M	324.6M	323.7M	318.4M	323.8M	334.4M	336.5M	331.9M	363.4M
Cost of revenue	—	—	—	—	—	—	—	—	—	—	—	—
Gross profit	—	—	—	—	—	—	—	—	—	—	—	—
Gross margin	—	—	—	—	—	—	—	—	—	—	—	—
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	103.4M	105.5M	102.3M	119.4M	126.2M	116.5M	111.6M	114.7M	118.8M	128M	116.5M	127.4M
Operating expenses	103.4M	105.5M	102.3M	119.4M	126.2M	116.5M	111.6M	114.7M	118.8M	128M	116.5M	127.4M
Operating income	—	—	—	—	—	—	—	—	—	—	—	—
Operating margin	—	—	—	—	—	—	—	—	—	—	—	—
Non-operating income, net	—	—	—	—	—	—	—	—	—	—	—	—
Pretax income	88.8M	81M	75.6M	103.2M	79.7M	86.2M	115.1M	122.7M	127.8M	120.1M	117.1M	127.7M
Income tax	16.7M	16.8M	13.6M	8.2M	16.5M	17.6M	22.1M	23.5M	27.3M	21.1M	22.4M	25.3M
Net income	72.1M	64.3M	61.9M	95M	63.2M	68.6M	93M	99.2M	100.5M	99M	94.8M	102.4M
Net margin	26.7%	23.7%	23.5%	35.6%	19.5%	21.2%	29.2%	30.6%	30%	29.4%	28.6%	28.2%
EBITDA	—	—	—	—	—	—	—	—	—	—	—	—
EPS	0.42	0.38	0.36	0.53	0.33	0.36	0.5	0.53	0.54	0.53	0.51	0.52
Diluted EPS	0.42	0.37	0.36	0.52	0.33	0.36	0.49	0.53	0.53	0.53	0.51	0.52

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	3.3B	3.1B	2.7B	2.9B	2.1B	2.8B	2.8B	2.7B	3.4B	3.5B	4.4B
Enterprise value	1.5B	1.6B	2.1B	1.7B	-918.3M	-1B	1.2B	2.9B	1.2B	722.6M	5.2B
Shares outstanding	173.3M	174.7M	175.4M	166.9M	162.4M	162.2M	164.1M	165.2M	175.5M	181.6M	181.6M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	20.2	18.2	13	12.9	11.6	10	9.62	9.57	11.7	8.96	11.2
P/S	4.58	4.02	3.29	3.36	2.41	2.94	2.74	2.51	2.87	2.67	3.33
P/B	1.54	1.4	1.21	1.24	0.79	1.02	1.07	0.99	1.06	1.01	1.23
EV/Sales	2.05	2.03	2.54	1.92	-1.07	-1.1	1.23	2.71	1.04	0.55	3.88
Earnings yield	4.96%	5.49%	7.68%	7.78%	8.62%	9.99%	10.4%	10.5%	8.53%	11.2%	8.95%
FCF yield	6.33%	8.14%	9.46%	3.23%	6.64%	11.6%	20.8%	12.1%	11.1%	8.1%	8.7%
PEG	—	—	—	—	—	—	—	—	—	—	-5.92

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Operating margin	—	—	—	—	—	—	—	—	—	—	42.3%
Net margin	22.7%	22.1%	25.2%	26.2%	20.7%	29.4%	28.4%	26.3%	24.5%	29.8%	29.7%
ROE	7.62%	7.7%	9.27%	9.66%	6.8%	10.2%	11.1%	10.3%	9.03%	11.2%	11.1%
ROA	—	—	—	—	—	—	—	—	0.9%	1.22%	1.19%
Return on tangible assets	—	—	—	—	—	—	—	—	0.94%	1.27%	1.17%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Debt / equity	0.47	0.57	0.76	0.75	0.74	0.38	0.69	0.59	0.38	0.18	0.01
Debt / assets	—	—	—	—	—	—	—	—	0.04	0.02	0.05
Effective tax rate	22.4%	26.7%	10.5%	14.3%	12%	17.6%	17.3%	18.5%	16.2%	19.4%	19.5%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	4.1	4.45	4.71	5.18	5.29	5.78	6.15	6.55	6.72	7.23	7.28
EPS (basic)	0.93	0.98	1.19	1.39	1.08	1.63	1.69	1.66	1.59	2.1	2.1
EPS (diluted)	0.93	0.98	1.18	1.39	1.08	1.62	1.67	1.64	1.57	2.08	2.08
Book value per share	12.2	12.8	12.8	14	16.1	16.7	15.7	16.7	18.2	19.2	18.9
FCF per share	1.19	1.46	1.46	0.56	0.84	1.98	3.49	2	2.13	1.57	2.14
Cash per share	16.1	16.1	13.3	18.1	30.2	29.7	20.2	8.62	19.2	18.8	7.14
Capex per share	0.11	0.19	0.23	0.2	0.12	0.11	0.13	0.2	0.05	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	2.77%	4.25%	4.83%	3.9%	2.36%	1.89%	2.11%	3.05%	0.74%	—	—
Capex / operating cash flow	9.95%	14.4%	21.7%	44.8%	15.6%	4.71%	3.18%	11.6%	2.2%	—	—
Payout ratio	42.9%	46.8%	43%	40.8%	51.1%	40.7%	40.4%	40.7%	45.6%	36.1%	36.1%
Dividend yield	2.13%	2.57%	3.3%	3.17%	4.4%	4.06%	4.2%	4.26%	3.89%	4.02%	3.31%

Yield

3.31%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.19

ex-dividend Oct 1, 2026

Payout ratio

36%

of earnings

Dividend growth

2 years

consecutive annual raises

Dividend per share

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

Recent payouts

Ex-dividend	Amount
Oct 1, 2026upcoming	$0.19
Jul 1, 2026	$0.19
Apr 1, 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	$269.8M	$271.4M	$264.1M	$266.5M	$324.6M	$323.7M	$318.4M	$323.8M	$334.4M	$336.5M	$331.9M	$363.4M
YoY change	-1.8%	-3.16%	-1.22%	-2.54%	+20.3%	+19.3%	+20.6%	+21.5%	+3.03%	+3.98%	+4.24%	+12.2%

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	2.8B	2.8B	2.3B	3B	4.9B	4.8B	3.3B	1.4B	3.4B	3.4B
Receivables	46.3M	52.9M	58.9M	60.9M	72.9M	57.5M	91.6M	108M	117M	113.7M
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	—	—	—	—	—	—	—	—	—	—
Property, plant & equipment	-76M	-84.5M	-91.3M	-110.6M	-112.1M	-125.7M	-132.6M	-142.9M	-115.3M	-119.9M
Goodwill & intangibles	1.1B	1.1B	1.1B	1.1B	1.1B	1.1B	1.1B	1.1B	1.3B	1.2B
Total assets	—	—	—	—	—	—	—	—	32.1B	32.1B
Accounts payable	9.6M	9.3M	10.5M	8.8M	10.4M	7M	10.2M	35.1M	31.6M	17.1M
Short-term debt	67M	225.5M	711.3M	883.2M	630.1M	416.8M	—	—	—	—
Total current liabilities	—	—	—	—	—	—	—	—	—	—
Long-term debt	929.4M	1B	992.3M	881.8M	1.3B	621.3M	1.8B	1.6B	1.2B	618.6M
Total liabilities	—	—	—	—	—	—	—	—	28.9B	28.6B
Shareholders' equity	2.1B	2.2B	2.2B	2.3B	2.6B	2.7B	2.6B	2.8B	3.2B	3.5B
Total debt	996.4M	1.3B	1.7B	1.8B	1.9B	1B	1.8B	1.6B	1.2B	618.6M
Net debt	757.2M	1B	1.5B	1.2B	78.5M	-600.5M	1.1B	1.1B	158.3M	-416.1M

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	1.5B	1.4B	1.4B	3.2B	3.6B	3.4B	3.5B	3.4B	3.3B	3.4B	3.3B	3.8B
Receivables	101.6M	108M	107.1M	120.8M	115.9M	117M	116.2M	117.1M	114M	113.7M	112.1M	121.2M
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	—	—	—	—	—	—	—	—	—	—	—	—
Property, plant & equipment	—	-142.9M	—	—	—	-115.3M	—	—	—	-119.9M	—	—
Goodwill & intangibles	561.3M	1.1B	560.1M	648M	641.7M	1.3B	629.2M	623.7M	618.4M	1.2B	607.6M	633.5M
Total assets	—	—	27.6B	31.8B	32.2B	32.1B	32.1B	32B	32B	32.1B	32.2B	34.6B
Accounts payable	26.8M	35.1M	26.4M	48.8M	36.7M	31.6M	27M	27.6M	22.6M	17.1M	17.7M	22.8M
Short-term debt	—	—	—	—	—	—	—	—	—	—	—	—
Total current liabilities	—	—	—	—	—	—	—	—	—	—	—	—
Long-term debt	1.8B	1.6B	2.3B	2.2B	2.1B	1.2B	1.7B	1.8B	1.5B	618.6M	1.3B	1.7B
Total liabilities	—	—	24.9B	28.7B	29B	28.9B	28.9B	28.7B	28.6B	28.6B	28.7B	30.7B
Shareholders' equity	2.6B	2.8B	2.8B	3.1B	3.2B	3.2B	3.3B	3.3B	3.4B	3.5B	3.5B	3.8B
Total debt	1.8B	1.6B	2.3B	2.2B	2.1B	1.2B	1.7B	1.8B	1.5B	618.6M	1.3B	1.7B
Net debt	1.4B	1.1B	1.9B	793.2M	647.4M	158.3M	642.2M	992.9M	685.1M	-416.1M	208.8M	465.8M

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	161.6M	171.8M	208.4M	226.3M	178M	275.5M	287M	284.3M	288.7M	391.6M
Depreciation & amortization	27.4M	28.1M	28.2M	29.6M	29.3M	29.4M	31.9M	33M	57M	50.7M
Stock-based compensation	6.6M	5.2M	8M	7.4M	7.5M	8.4M	14M	12.5M	10.5M	13.3M
Change in working capital	-13.5M	-26.5M	-62.3M	-195.9M	-72.4M	-24.4M	296.8M	-44.5M	77.1M	-147.5M
Operating cash flow	197.7M	230.2M	183.9M	75.3M	129.6M	375.7M	667.8M	283.3M	394.8M	304.5M
Capital expenditure	-19.7M	-33.1M	-39.9M	-33.7M	-20.2M	-17.7M	-21.2M	-33M	8.7M	—
Investing cash flow	-163.7M	-47.8M	-292.9M	-185.3M	-426.6M	-771.8M	-128.3M	291.6M	1.8B	28.4M
Dividends paid	-69.4M	-80.4M	-89.7M	-92.3M	-91M	-112M	-116M	-115.7M	-131.7M	-141.2M
Share repurchases	-18.5M	0	-95.3M	-111.5M	-39.7M	-43.9M	0	-77.1M	-30.3M	-66M
Financing cash flow	-47.9M	112.5M	-91.1M	-180M	-26.3M	-1.3B	1.4B	-574.1M	-2B	-684.5M
Net change in cash	-13.9M	294.8M	-200.1M	-290M	-323.4M	-1.7B	2B	816K	161.8M	-351.6M
Free cash flow	206.4M	254.7M	256.9M	94M	137.1M	320.7M	573.5M	330M	374.1M	284.3M

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	72.1M	64.3M	61.9M	95M	63.2M	68.6M	93M	99.2M	100.5M	99M	94.8M	102.4M
Depreciation & amortization	8.1M	8.4M	8.4M	12.6M	13.4M	22.7M	13.5M	12.5M	12.3M	12.4M	12.1M	13.2M
Stock-based compensation	3.7M	4.6M	836K	2.9M	3.7M	3.1M	2.1M	3.4M	4M	3.8M	2.4M	2.5M
Change in working capital	141.3M	-194M	79.3M	60.4M	-144.3M	81.7M	-92.8M	3.4M	10.9M	-26M	-4.4M	18.3M
Operating cash flow	221.7M	-110.4M	156.9M	110M	-45.3M	173.2M	27.2M	113.9M	116.1M	96M	114.7M	99.7M
Capital expenditure	-6.8M	-15.1M	-1.8M	49.4M	2.3M	-41.2M	2M	-4.1M	—	—	—	—
Investing cash flow	43.6M	170.9M	-197.9M	1.6B	-293.9M	-327M	-257.2M	-45.4M	93.4M	235.6M	-64M	-27.5M
Dividends paid	-30.3M	-30.4M	-28.7M	-35.2M	-32.2M	-35.6M	-35.4M	-35.4M	-35.3M	-35.1M	-36.7M	-38.9M
Share repurchases	-30.5M	-6.1M	-30.3M	0	0	0	-550K	-14.5M	-31M	-19.9M	-24.6M	-18.3M
Financing cash flow	-408.4M	81.3M	-58M	234M	-31.8M	-35.6M	-34.4M	-47.6M	-64.4M	-53.2M	-59.3M	-53.8M
Net change in cash	-143.2M	141.8M	-99.1M	1.9B	-370.9M	-189.4M	-264.4M	20.9M	145.1M	278.3M	-8.6M	18.4M
Free cash flow	196.6M	-72.5M	151.1M	166.3M	-19.7M	86.7M	-8.7M	87.6M	115.3M	90.1M	113.2M	93.6M

Date	Ratio
May 17, 2006	105:100
Jun 9, 2005	5:4
May 12, 2004	105:100
Apr 28, 2003	105:100
May 21, 2002	5:4
Apr 30, 2001	105:100
May 4, 2000	105:100
May 6, 1999	11:10
May 28, 1998	5:4
May 21, 1997	11:10
Apr 30, 1996	1:1
May 9, 1995	1:1
Jun 1, 1994	5:4
May 6, 1993	110:100
Oct 28, 1991	110:100
Jan 12, 1990	110:100
Feb 9, 1989	110:100
May 6, 1987	110:100
Jun 3, 1986	2:1

Fulton Financial Corporation 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