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Intrinsic value of First BanCorp. (FBP)

Previous Close$14.93
Intrinsic Value
Upside potential
Previous Close
$14.93
* Our model cannot be used “out of the box” for the valuation of this stock. You can still do your own valuation by changing the valuation input parameters.
Use floor (the cash flow based valuation has rendered a result, which is lower than an estimated minimum value derived from the company’s balance sheet analysis)

VALUATION INPUT DATA (original, your and others' valuations)

ParameterOrig.Your
Date of valuation (DoV)  
Intrinsic value (IV) at DoV, $/sh  
IV at current val. algorithm, $/sh11.89 

The original valuation is based on fiscal year data as of 2021-12-31 and quarterly data as of 2022-03-31.

Registered users can save their valuation input data

  1. Annual
  2. Quarterly YoY
  3. Quarterly QoQ

Annual revenue growth rates, % (past and forecasted)

NOTE: The bar chart shows historic and forecasted yearly revenue growth rates. Its purpose is to help you in determining what initial revenue rate you want to base your stock valuation on. Please make sure that you are confident in the value you select - for most stocks it is by far the most important parameter in valuation.

Company description

First BanCorp. operates as the bank holding company for FirstBank Puerto Rico that provides a range of financial products and services to retail, commercial, and institutional clients. The company operates in six segments: Commercial and Corporate Banking, Mortgage Banking, Consumer (Retail) Banking, Treasury and Investments, United States Operations, and Virgin Islands Operations. The Commercial and Corporate Banking segment offers commercial real estate and construction loans, floor plan financing, and cash and business management services. The Mortgage Banking segment is involved in the origination, sale, and servicing of various residential mortgage loan products and related hedging activities; and acquisition and sale of mortgages in the secondary markets. The Consumer (Retail) Banking segment provides auto, boat, and personal loans; credit cards; lines of credit; deposit products comprising interest bearing and non-interest bearing checking and savings accounts, individual retirement accounts, and retail certificates of deposit (CDs); finance leasing and insurance services. The Treasury and Investments segment engages in the treasury and investment management activities, such as funding and liquidity management. The United States Operations segment offers checking, savings, and money market accounts, as well as retail CDs; and residential mortgages, home equity loans, lines of credit, and term loans, as well as Internet banking, cash management, remote data capture, automated clearing house transaction services. The Virgin Islands Operations segment is involved in the consumer, commercial lending, and deposit-taking activities. As of December 31, 2019, the company operated 46 branches in Puerto Rico, 11 branches in the U.S. Virgin Islands and British Virgin Islands, and 10 branches in the state of Florida. First BanCorp. was founded in 1948 and is headquartered in Santurce, Puerto Rico.

show cash flow forecast

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year2021(a)2022202320242025202620272028202920302031203220332034203520362037203820392040204120422043204420452046

INCOME STATEMENT

Revenue growth rate, %20.7NaN
Revenue, $854NaN
Variable operating expenses, $mNaN
Fixed operating expenses, $mNaN
Total operating expenses, $m399NaN
Operating income, $m454NaN
EBITDA, $m492NaN
Interest expense (income), $mNaN
Earnings before tax, $m425NaN
Tax expense, $m147NaN
Net income, $m279NaN

BALANCE SHEET

Cash and short-term investments, $m2543NaN
Total assets, $m20906NaN
Adjusted assets (=assets-cash), $m18363NaN
Average production assets, $m324NaN
Working capital, $m-4868NaN
Total debt, $m778NaN
Total liabilities, $m18804NaN
Total equity, $m2102NaN
Debt-to-equity ratio0.370NaN
Adjusted equity ratio-0.012NaN

CASH FLOW

Net income, $m279NaN
Depreciation, amort., depletion, $m38NaN
Funds from operations, $mNaN
Change in working capital, $mNaN
Cash from operations, $m375NaN
Maintenance CAPEX, $mNaN
New CAPEX, $mNaN
Total CAPEX, $m-13NaN
Free cash flow, $m387NaN
Issuance/(repurchase) of shares, $mNaN
Retained Cash Flow, $mNaN
Pot'l extraordinary dividend, $m-4868
Cash available for distribution, $mNaN
Discount rate, %NaN
PV of cash for distribution, $mNaN
Current shareholders' claim on cash, %NaN
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