# First Citizens BancShares Inc (FCNCA) — Stock CV

First Citizens BancShares Inc is a $23.4B financial services company. Revenue grew 4.9% over the last year, and it keeps 160¢ of every dollar of sales as profit. It trades at 9.8× earnings — around the middle of its own history.

> First Citizens is a US regional bank with total assets of around $237 billion as of June 30, 2026. Headquartered in Raleigh, North Carolina, First Citizens' largest markets are North Carolina, South Carolina, and California.

## Identity

- **Ticker**: FCNCA
- **Sector**: Financial Services
- **Industry**: State Commercial Banks
- **Headquarters**: RALEIGH, NC
- **Employees**: 18 141
- **Website**: https://www.firstcitizens.com
- **Market cap**: $23.4B
- **Last price**: $2 068.39
- **Financial profile**: Mixed

## Vitals (TTM)

- **Revenue**: $1.47B
- **Net income**: $2.35B
- **Free cash flow**: $2.46B
- **Net debt**: $35.2B
- **P/E**: 9.8
- **Revenue growth (YoY)**: 4.9%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 65 |
| Growth | 75 |
| Profitability | 42 |
| Health | 40 |
| Quality | 57 |
| Moat | 49 |

## Qualifications (beginner checklist) — 8 of 11 passed

- [x] Revenue growing — +4.9% YoY
- [x] Profitable — $2.35B TTM
- [x] Profit growing — +33.8% YoY
- [x] Generates cash — $2.46B TTM
- [ ] Debt under control — ~14.3y of cash flow to repay
- [x] Established company — $23.4B market cap
- [ ] Not printing shares — +29.3% shares over ~5y
- [x] Proven track record — 10/10 profitable years
- [ ] Financially stable — Altman Z 0.1 — distress
- [x] Pays a dividend — yield 0.81%
- [x] Valuation not extreme — P/E 9.8

## Experience (career milestones)

- **Q3 2026** — 2 open-market insider purchases: ~50 shares bought by insiders
- **Q2 2026** — 11 open-market insider purchases: ~164 shares bought by insiders
- **2024** — It is the 15th largest bank in the United States
- **FY2023** — Best year on record: $11.5B net income
- **FY2016** — Profitable every year on record: 10 consecutive profitable years in our data
- **FY2016** — Revenue already above $1B: $1.48B in first reported year
- **1986** — It reorganized as a holding company, First Citizens BancShares, Inc
- **1929** — It changed its name to First Citizens Bank and Trust Company

## Strengths

- Strongly profitable — 159.8% net margin
- Strong cash conversion — FCF is 166.8% of revenue

## Watch-outs

- Altman Z-Score 0.14 — elevated financial-distress risk
- Net debt would take ~15.8 years of free cash flow to repay
- Net debt equals ~14.3 years of free cash flow

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $401M | $547M | -$391M |
| FY2022 | $693M | $1.10B | $2.64B |
| FY2023 | $1.19B | $11.5B | $2.25B |
| FY2024 | $1.37B | $2.78B | $2.56B |
| FY2025 | $1.43B | $2.21B | $2.21B |

---

Source: https://stockcv.com/FCNCA — derived from company filings; may be delayed or incomplete. Information, not investment advice.