First Bancorp /Nc/ - Understand $fbnc stock

$FBNC Market Cap: $1.97 Billion

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Financial Snapshot

Revenue

$386.8M

TTM

Gross Margin

Net Earnings

$102.2M

TTM

Current Assets

Current Liabilities

$5.566M

Q3 2024

Current Ratio

Total Assets

$12.15B

Q3 2024

Total Liabilities

$10.68B

Q3 2024

Book Value

$1.478B

Q3 2024

Cash

$744.4M

Q3 2024

P/E

19.27

Nov 29, 2024 EST

Free Cash Flow

$148.3M

TTM

Revenues

Revenue YoY Change

Revenues

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996	1995	1994	1993	1992	1991	1990	1989	1988
Revenue	$32.82M	$341.0M	$255.9M	$237.7M	$250.1M	$231.2M	$177.4M		$126.7M	$139.8M	$147.5M	$152.5M
YoY Change	-90.38%	33.23%	7.67%	-4.97%	8.17%	30.34%			-9.42%	-5.21%	-3.28%

Expenses

Cost Of Revenues

Gross Profit

Gross Profit Margin

Gross Profit

Concept	2023	2022	2021	2020	2019	2018	2017	2015	2014	2013	2012
Revenue	$32.82M	$341.0M	$255.9M	$237.7M	$250.1M	$231.2M	$177.4M	$126.7M	$139.8M	$147.5M	$152.5M
Cost Of Revenue
Gross Profit
Gross Profit Margin

Selling, General & Admin Expense

Research & Development

Depreciation, Depletion & Amortization

SGA Expense to Gross Profit Ratio

R&D To Gross Profit Ratio

DDA To Gross Profit Ratio

Operating Expenses Total

Operating Profits/Loss

Operational Expenses

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996	1995	1994	1993	1992	1991	1990	1989	1988
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$7.800M	$6.900M	$6.200M	$5.800M	$5.800M	$6.077M	$5.493M	$5.800M	$4.494M	$4.618M	$4.623M	$4.557M	$5.300M	$4.900M	$4.200M	$3.900M	$3.700M	$3.200M	$3.000M	$3.000M	$2.400M	$1.900M	$2.900M	$1.800M	$1.700M	$1.600M	$1.200M	$1.300M	$1.200M	$1.100M	$900.0K	$1.000M	$1.100M	$1.300M	$1.100M	$1.100M
YoY Change	13.04%	11.29%	6.9%	0.0%	-4.56%	10.63%	-5.29%	29.06%	-2.69%	-0.11%	1.45%	-14.02%	8.16%	16.67%	7.69%	5.41%	15.63%	6.67%	0.0%	25.0%	26.32%	-34.48%	61.11%	5.88%	6.25%	33.33%	-7.69%	8.33%	9.09%	22.22%	-10.0%	-9.09%	-15.38%	18.18%	0.0%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change

Interest Expenses

Interest Expenses To Operating Income %

Other Expense/Income

Interest & Other Expense/Income

Concept	2023	2022	2021	2020	2019	2018	2017	2015	2014	2013	2012
Interest Expense	$142.1M	$16.10M	$9.523M	$19.56M	$33.90M	$23.78M	$12.67M	$6.908M	$8.223M	$10.99M	$17.32M
YoY Change	782.45%	69.1%	-51.32%	-42.3%	42.59%	87.65%		-15.99%	-25.14%	-36.58%
% of Operating Profit
Other Income/Expense, Net
YoY Change

Income/Loss

Pretax Income

Income Tax

Net Profits/Loss

Pretax Income YoY Change

Income Tax Rate

Net Profits/Loss YoY Change

Basic EPS

Net Income To Revenue Ratio

Pretax & Net Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996	1995	1994	1993	1992	1991	1990	1989	1988
Pretax Income	$132.0M	$185.2M	$120.3M	$103.1M	$116.3M	$113.5M	$67.74M	$42.10M	$41.16M	$38.53M	$32.78M	-$40.36M	$21.00M	$14.90M	$97.90M	$35.10M	$35.00M	$30.70M	$32.90M	$30.50M	$30.00M	$26.50M	$20.90M	$15.10M	$18.10M	$17.10M	$7.600M	$6.600M	$2.200M	$4.100M	$3.700M	$3.500M	$2.700M	$2.200M	$2.500M	$2.600M
YoY Change	-28.76%	53.94%	16.67%	-11.3%	2.47%	67.52%	60.9%	2.28%	6.82%	17.54%	-181.22%	-292.18%	40.94%	-84.78%	178.92%	0.29%	14.01%	-6.69%	7.87%	1.67%	13.21%	26.79%	38.41%	-16.57%	5.85%	125.0%	15.15%	200.0%	-46.34%	10.81%	5.71%	29.63%	22.73%	-12.0%	-3.85%	30.0%
Income Tax	$27.83M	$38.28M	$24.68M	$21.65M	$24.23M	$24.19M	$21.77M	$14.60M	$14.13M	$13.54M	$12.08M	-$16.95M	$7.400M	$5.000M	$37.60M	$13.10M	$13.20M	$11.40M	$16.80M	$10.40M	$10.60M	$9.300M	$7.300M	$5.700M	$6.200M	$6.100M	$2.500M	$2.200M	$600.0K	$1.200M	$1.000M	$1.000M	$700.0K	$600.0K	$600.0K	$700.0K
% Of Pretax Income	21.09%	20.67%	20.51%	21.0%	20.84%	21.32%	32.13%	34.68%	34.32%	35.13%	36.85%		35.24%	33.56%	38.41%	37.32%	37.71%	37.13%	51.06%	34.1%	35.33%	35.09%	34.93%	37.75%	34.25%	35.67%	32.89%	33.33%	27.27%	29.27%	27.03%	28.57%	25.93%	27.27%	24.0%	26.92%
Net Earnings	$104.1M	$146.9M	$95.64M	$81.48M	$92.05M	$89.29M	$45.97M	$27.50M	$27.03M	$25.00M	$20.70M	-$23.41M	$13.60M	$10.00M	$60.30M	$22.00M	$21.80M	$19.30M	$16.10M	$20.10M	$19.40M	$17.20M	$13.60M	$9.300M	$11.90M	$11.00M	$5.000M	$4.300M	$1.600M	$3.000M	$2.700M	$2.500M	$2.000M	$1.600M	$1.900M	$1.900M
YoY Change	-29.13%	53.63%	17.39%	-11.48%	3.09%	94.22%	67.17%	1.72%	8.15%	20.76%	-188.43%	-272.1%	36.0%	-83.42%	174.09%	0.92%	12.95%	19.88%	-19.9%	3.61%	12.79%	26.47%	46.24%	-21.85%	8.18%	120.0%	16.28%	168.75%	-46.67%	11.11%	8.0%	25.0%	25.0%	-15.79%	0.0%	35.71%
Net Earnings / Revenue	317.32%	43.1%	37.37%	34.28%	36.8%	38.62%	25.92%		21.34%	17.88%	14.03%	-15.35%
Basic Earnings Per Share	$2.54	$4.12	$3.19	$2.81	$3.10	$3.02	$1.82		$1.34	$1.22	$1.01	-$1.54
Diluted Earnings Per Share	$2.53	$4.12	$3.19	$2.81	$3.10	$3.01	$1.82	$1.329M	$1.30	$1.19	$0.98	-$1.54	$804.7K	$595.2K	$3.611M	$1.375M	$1.503M	$1.340M	$1.118M	$1.396M	$1.347M	$1.229M	$978.4K	$683.8K	$850.0K	$758.6K	$724.6K	$632.4K	$235.3K	$441.2K	$397.1K	$367.6K	$294.1K	$235.3K	$279.4K	$279.4K

Assets & Liabilities

Cash & Short-Term Investments

Cash & Equivalents

Cash To Operating Expenses Ratio

Inventory

Receivables

Total Short-Term Assets

Property, Plant And Equipment

Long-Term Investments

Total Long-Term Assets

Total Assets

Net Income To Total Assets Percentage

Accounts Payable

Short-Term Debt

Long Term Debt Due

Total Short-Term Liabilities

Long-Term Debt

Other Long-Term Liabilities

Total Long-Term Liabilities

Total Liabilities

Short-Term To Long-Term Debt Ratio

Short-Term Assets To Debt Ratio

Long-Term Debt To Net Income Ratio

Assets & Liabilities

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996	1995	1994	1993	1992	1991	1990	1989	1988
Cash & Short-Term Investments
YoY Change
Cash & Equivalents
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
Property, Plant & Equipment	$168.0M	$152.9M	$157.0M	$138.0M	$135.0M	$119.0M	$116.0M	$75.00M	$75.00M	$75.00M	$77.00M	$74.00M	$70.00M	$68.00M	$54.00M	$52.00M	$46.00M	$44.00M	$35.00M	$30.00M	$25.00M	$22.00M	$19.00M	$14.00M	$12.00M	$9.000M	$9.000M	$8.000M	$8.000M	$7.000M	$6.000M	$6.000M	$6.000M	$6.000M	$6.000M	$6.000M
YoY Change	9.87%	-2.6%	13.77%	2.22%	13.45%	2.59%	54.67%	0.0%	0.0%	-2.6%	4.05%	5.71%	2.94%	25.93%	3.85%	13.04%	4.55%	25.71%	16.67%	20.0%	13.64%	15.79%	35.71%	16.67%	33.33%	0.0%	12.5%	0.0%	14.29%	16.67%	0.0%	0.0%	0.0%	0.0%	0.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$27.60M	$18.50M	$11.00M	$8.000M	$8.000M	$8.000M	$5.000M	$3.000M	$2.000M	$2.000M	$2.000M
YoY Change	49.19%	68.18%	37.5%	0.0%	0.0%	60.0%	66.67%	50.0%	0.0%	0.0%
Other Assets	$107.7M	$117.0M	$21.00M	$0.00	-$8.000M	-$1.000M	-$1.000M	$4.000M	$4.000M	$5.000M	$15.00M
YoY Change	-8.01%	457.3%		-100.0%	700.0%	0.0%	-125.0%	0.0%	-20.0%	-66.67%
Total Long-Term Assets
YoY Change
Total Assets	$12.11B	$10.63B	$10.51B	$7.290B	$6.144B	$5.864B	$5.547B	$3.615B	$3.362B	$3.218B	$3.185B	$3.245B	$3.290B	$3.279B	$3.545B	$2.751B	$2.317B	$2.137B	$1.801B	$1.639B	$1.476B	$1.218B	$1.145B	$915.0M	$890.0M	$492.0M	$403.0M	$335.0M	$322.0M	$290.0M	$257.0M	$243.0M	$233.0M	$220.0M	$205.0M	$191.0M
YoY Change
Accounts Payable	$5.699M	$2.738M	$1.000M	$1.000M	$2.000M	$2.000M	$1.000M	$1.000M	$1.000M	$1.000M	$1.000M	$1.000M	$2.000M	$2.000M	$3.000M	$5.000M	$6.000M	$6.000M	$4.000M	$3.000M	$2.000M	$2.000M	$3.000M	$4.000M	$4.000M	$3.000M	$2.000M	$2.000M	$2.000M	$1.000M	$1.000M	$1.000M	$2.000M	$2.000M	$2.000M	$1.000M
YoY Change	108.14%	173.8%	0.0%	-50.0%	0.0%	100.0%	0.0%	0.0%	0.0%	0.0%	0.0%	-50.0%	0.0%	-33.33%	-40.0%	-16.67%	0.0%	50.0%	33.33%	50.0%	0.0%	-33.33%	-25.0%	0.0%	33.33%	50.0%	0.0%	0.0%	100.0%	0.0%	0.0%	-50.0%	0.0%	0.0%	100.0%
Accrued Expenses	$17.83M	$19.39M	$21.00M	$18.00M	$20.00M
YoY Change	-8.03%	-7.66%	16.67%	-10.0%
Deferred Revenue
YoY Change
Short-Term Debt	$249.0M											$0.00	$17.00M	$142.0M	$64.00M	$96.00M	$40.00M	$43.00M	$34.00M	$0.00	$76.00M	$30.00M	$15.00M	$26.00M	$63.00M	$6.000M	$0.00
YoY Change												-100.0%	-88.03%	121.88%	-33.33%	140.0%	-6.98%	26.47%		-100.0%	153.33%	100.0%	-42.31%	-58.73%	950.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$23.53M	$22.13M	$22.00M	$19.00M	$22.00M	$2.000M	$1.000M	$1.000M	$1.000M	$1.000M	$1.000M	$1.000M	$2.000M	$2.000M	$3.000M	$5.000M	$6.000M	$6.000M	$4.000M	$3.000M	$2.000M	$2.000M	$3.000M	$4.000M	$4.000M	$3.000M	$2.000M	$2.000M	$2.000M	$1.000M	$1.000M	$1.000M	$2.000M	$2.000M	$2.000M	$1.000M
YoY Change	6.34%	0.59%	15.79%	-13.64%	1000.0%	100.0%	0.0%	0.0%	0.0%	0.0%	0.0%	-50.0%	0.0%	-33.33%	-40.0%	-16.67%	0.0%	50.0%	33.33%	50.0%	0.0%	-33.33%	-25.0%	0.0%	33.33%	50.0%	0.0%	0.0%	100.0%	0.0%	0.0%	-50.0%	0.0%	0.0%	100.0%
Long-Term Debt	$349.3M	$287.5M	$67.00M	$62.00M	$301.0M	$407.0M	$408.0M	$271.0M	$186.0M	$116.0M	$46.00M	$46.00M	$46.00M	$46.00M	$46.00M	$66.00M	$66.00M	$67.00M	$41.00M	$41.00M	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
YoY Change	21.5%	329.11%	8.06%	-79.4%	-26.04%	-0.25%	50.55%	45.7%	60.34%	152.17%	0.0%	0.0%	0.0%	0.0%	-30.3%	0.0%	-1.49%	63.41%	0.0%
Other Long-Term Liabilities	$57.27M	$56.29M	$65.00M	$42.00M	$37.00M	$32.00M	$38.00M	$27.00M	$22.00M	$18.00M	$15.00M	$20.00M	$37.00M	$29.00M	$26.00M	$23.00M	$17.00M	$19.00M	$13.00M	$7.000M	$6.000M	$6.000M	$9.000M	$4.000M	$4.000M	$2.000M	$2.000M	$2.000M	$2.000M	$1.000M	$2.000M	$1.000M	$1.000M	$1.000M	$1.000M	$1.000M
YoY Change	1.75%	-13.4%	54.76%	13.51%	15.63%	-15.79%	40.74%	22.73%	22.22%	20.0%	-25.0%	-45.95%	27.59%	11.54%	13.04%	35.29%	-10.53%	46.15%	85.71%	16.67%	0.0%	-33.33%	125.0%	0.0%	100.0%	0.0%	0.0%	0.0%	100.0%	-50.0%	100.0%	0.0%	0.0%	0.0%	0.0%
Total Long-Term Liabilities	$406.6M	$343.8M	$132.0M	$104.0M	$338.0M	$439.0M	$446.0M	$298.0M	$208.0M	$134.0M	$61.00M	$66.00M	$83.00M	$75.00M	$72.00M	$89.00M	$83.00M	$86.00M	$54.00M	$48.00M	$6.000M	$6.000M	$9.000M	$4.000M	$4.000M	$2.000M	$2.000M	$2.000M	$2.000M	$1.000M	$2.000M	$1.000M	$1.000M	$1.000M	$1.000M	$1.000M
YoY Change	18.26%	160.45%	26.92%	-69.23%	-23.01%	-1.57%	49.66%	43.27%	55.22%	119.67%	-7.58%	-20.48%	10.67%	4.17%	-19.1%	7.23%	-3.49%	59.26%	12.5%	700.0%	0.0%	-33.33%	125.0%	0.0%	100.0%	0.0%	0.0%	0.0%	100.0%	-50.0%	100.0%	0.0%	0.0%	0.0%	0.0%
Total Liabilities	$10.74B	$9.593B	$9.278B	$6.396B	$5.291B	$5.100B	$4.854B	$3.247B	$3.020B	$2.831B	$2.813B	$2.889B	$2.945B	$2.934B	$3.203B	$2.531B	$2.143B	$1.974B	$1.645B	$1.490B	$1.334B	$1.094B	$1.028B	$804.0M	$783.0M	$451.0M	$366.0M	$302.0M	$291.0M	$261.0M	$230.0M	$217.0M	$209.0M	$198.0M	$184.0M	$171.0M
YoY Change	11.98%	3.4%	45.06%	20.88%	3.75%	5.07%	49.49%	7.52%	6.68%	0.64%	-2.63%	-1.9%	0.37%	-8.4%	26.55%	18.11%	8.56%	20.0%	10.4%	11.69%	21.94%	6.42%	27.86%	2.68%	73.61%	23.22%	21.19%	3.78%	11.49%	13.48%	5.99%	3.83%	5.56%	7.61%	7.6%

Ownership

Basic Shares Outstanding

Diluted Shares Outstanding

Preferred Stock

Treasury Stock Shares

Stock Issuance & Repurchase

Ownership Data

Concept	2023	2022	2021	2020	2019	2018	2017	2015	2014	2013	2012
Basic Shares Outstanding	40.75M shares	35.49M shares	29.88M shares	28.84M shares	29.55M shares	29.57M shares	25.21M shares	19.77M shares	19.70M shares	19.68M shares	17.05M shares
Diluted Shares Outstanding	41.16M shares	35.67M shares	30.03M shares	28.98M shares	29.72M shares	29.71M shares	25.29M shares	20.50M shares	20.43M shares	20.40M shares	17.05M shares
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

Book Value

Free Cash Flow

Free Cash Flow YoY

Free Cash Flow Margin

Dividends

Stock Price

Market Cap: $1.9695 Billion

About FIRST BANCORP /NC/

First Bancorp (North Carolina) operates as a bank holding company, which engages in banking activities, with the acceptance of deposits and the making of loans. The company is headquartered in Southern Pines, North Carolina and currently employs 1,396 full-time employees. The firm's principal activity is the ownership and operation of First Bank, a state-chartered community bank that operates approximately 118 branches in North Carolina and South Carolina. The company maintains a diversified loan portfolio by providing a range of commercial and retail lending services to business entities and individuals. The company provides commercial business loans, commercial and residential real estate construction and mortgage loans, revolving lines of credit, letters of credit, and loans for personal uses, home improvement, and automobiles. The firm originates residential mortgages through its mortgage banking division, some of which it sells in the secondary market. Through Magnolia Financial, the Company provides accounts receivable financing and factoring, inventory financing, and purchase order financing. The firm also offers United States Small Business Administration (SBA) loans to small business owners across the nation.

Industry: State Commercial Banks Peers: Bancorp, Inc. BERKSHIRE HILLS BANCORP INC CITY HOLDING CO EAGLE BANCORP INC FIRST BUSEY CORP /NV/ Live Oak Bancshares, Inc. PNC FINANCIAL SERVICES GROUP, INC. Triumph Financial, Inc. Veritex Holdings, Inc. WESTAMERICA BANCORPORATION