First Citizens BancShares, Inc.FCNCA
NasdaqGS•Financial Services•Banks - Regional
First Citizens BancShares, Inc. operates as the holding company for First-Citizens Bank & Trust Company that provides retail and commercial banking services to individuals, businesses, and professionals in the United States and internationally. It operates through the General Bank, Commercial Bank, and Rail segments. The General Bank segment offers deposit products, including checking, savings, money market, and time deposit accounts; conforming and jumbo residential mortgage, and business and commercial loans; brokerage, investment advisory, private stock loans, other secured and unsecured lending products, and vineyard development loans; planning-based financial strategies, family office, financial planning, tax planning, and trust services; and payment and treasury services. This segment also includes a community association bank business that supports deposit, cash management, and lending to homeowner associations and property management companies. Its Commercial Bank segment provides a range of leasing, capital markets, asset management, and other financial and advisory services; factoring, receivable management, supply chain financing, and secured financing services; and commercial deposit products and services through online and mobile banking platforms, as well as physical locations. The Rail segment offers customized leasing and financing solutions on a fleet of railcars and locomotives to railroads and shippers. Its railcar types include covered hopper cars used to ship grain and agricultural products, plastic pellets, sand, and cement; tank cars for energy products and chemicals; gondolas for coal, steel coil and mill service products; open-top hopper cars for coal and aggregates; boxcars for paper and auto parts; and centerbeams and flat cars for lumber. First Citizens BancShares, Inc. was founded in 1898 and is headquartered in Raleigh, North Carolina.
First Citizens BancShares, Inc. (FCNCA) reported trailing twelve months revenue of $9.56B as of March 2026, a 20.7% decline year-over-year. Quarterly revenue reached $2.31B, reflecting a contraction in sales.
First Citizens BancShares, Inc. generated $2.26B in TTM net income, with quarterly EBITDA of $705.00M. The operating margin expanded from 28.3% to 30.5%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (30.5%) and net margin (23.1%) indicates moderate non-operating costs. Net margin has improved from 21.0% a year ago, signaling stronger bottom-line efficiency.
FCNCA trades at a P/E of 9.8x (below the broader market average) and a P/S of 2.3x. The price-to-book ratio of 1.0x suggests the stock trades below its book value.
The company generated $31.00M in free cash flow over the trailing twelve months, a 720.0% increase year-over-year, indicating cash generation ability. The balance sheet shows $235.96B in total assets with $33.79B in long-term debt against $22.05B in stockholders equity for a debt-to-equity ratio of 1.5. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are positive at ~23150000020.3% on average, but show some variability — pricing power may be sensitive to market conditions.
ROE is positive at ~11.1% 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.
Revenue has been flat or declining over recent quarters, which may indicate eroding demand or competitive pressure.
Data-driven red flags and warnings across 21 quarters
Operating margins dropped 100.0% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.
FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.
D/E ratio is 1.5 — 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 18.0% — net buybacks are reducing shares outstanding and boosting per-share value.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation