Popular, Inc.BPOP
NasdaqGS•Financial Services•Banks - Regional
Popular, Inc., through its subsidiaries, provides various retail, mortgage, and commercial banking services for individuals and businesses in Puerto Rico, the United States, the British Virgin Islands, the Caribbean, and Latin America. The company offers savings, NOW, money market, and other interest-bearing demand accounts; non-interest bearing demand deposits; checking accounts; individual retirement accounts and educational contribution accounts; business accounts; investment accounts; private management accounts; and certificates of deposit. It also provides commercial and industrial, commercial real estate, commercial multi-family, and residential mortgage loans; consumer loans, including unsecured personal loans, home equity lines of credit, and other loans to individual borrowers; construction loans; lease financing comprising automobile loans and leases; renewable energy and marine loans; and startup program and healthcare hub financing. In addition, the company offers auto and equipment leasing and financing; broker-dealer; international and private banking; insurance services, such as travel, property, auto and boat, health, life, and title; debit and credit cards; family of funds and Keogh plans; mobile easy deposit, foreign exchange, and fiduciary services; retirement plans; wire transfers; coordination of auto, aircraft, and helicopter loans; financial planning; investment advice; ATM; and online banking services. Popular, Inc. was founded in 1893 and is headquartered in Hato Rey, Puerto Rico.
Popular, Inc. (BPOP) reported trailing twelve months revenue of $4.48B as of March 2026, a 3.3% increase year-over-year. Quarterly revenue reached $1.11B, reflecting continued top-line momentum.
Popular, Inc. generated $901.33M in TTM net income, with quarterly EBITDA of $292.61M. The operating margin expanded from 20.8% to 26.3%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (26.3%) and net margin (22.1%) indicates tight cost control with minimal non-operating drag. Net margin has improved from 16.6% a year ago, signaling stronger bottom-line efficiency.
BPOP trades at a P/E of 11.6x (below the broader market average) and a P/S of 2.3x. The price-to-book ratio of 1.7x reflects a moderate premium to book value.
The company generated $154.93M in free cash flow over the trailing twelve months, a 28.5% increase year-over-year, indicating cash generation ability. The balance sheet shows $76.13B in total assets with $734.98M in long-term debt against $6.31B in stockholders equity for a debt-to-equity ratio of 0.1, a conservative capital structure. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are expanding at ~21.9%, suggesting durable pricing power and cost discipline.
ROE is positive at ~11.7% on average, adequate but below the threshold typically associated with wide moats.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
TTM revenue has grown consistently (7 of 7 quarters up), with ~7.1% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~24.0% — no sign of cost or pricing stress.
FCF/Net Income has dropped below 0.7x in 4 quarters — monitor for earnings quality deterioration.
D/E ratio is 0.1 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares decreased 9.9% — net buybacks are reducing shares outstanding and boosting per-share value.