First Citizens BancShares, Inc.

FCNCANASDAQFinancial Services● Active

$2,074.25

$-0.85(-0.04%)

Market Cap$24.0B

P/E Ratio—

52W High$2232.21

52W Low$1623.76

Avg Volume81K

Open$2,062.72

Beta0.62

Overview

First Citizens BancShares, Inc. (FCNCA) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

FCNCA · free cash flow · updated Jun 8, 2026

Core FCF metrics

FCNCA · FCF · TTM · margin & CAGR

Free cash flow was $2.07B for FY2025 (fiscal year ending 2025-12-31), up 42.5% year-over-year The FCF margin was 14.3%. Five-year CAGR stands at +53.5%.

FY2025 Free Cash Flow$2.07B▲ +42.5% YoY

Trailing 12M (TTM)$2.22Btrailing 4 quarters sum

FCF Margin14.3%$2.07B ÷ revenue

3-Year CAGR+3.5%FY2022 → FY2025

5-Year CAGR+53.5%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

FCNCA · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$2.92B(852M)$2.07B▲ +42.5%14.3%

FY2024$2.99B(1.53B)$1.45B▲ +17.9%9.7%

FY2023$2.66B(1.43B)$1.23B▼ 33.9%9.8%

FY2022$2.79B(926M)$1.86B▲ +577.0%36.6%

FY2021−$284.0M(107M)−$391.0M▼ 260.9%-20.6%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

FCNCA · P/FCF · FCF yield · FCF per share

First Citizens BancShares, Inc. (FCNCA) trades at a FCF yield of 9.16% and a price-to-free-cash-flow ratio of 11.5x. FCF per share stands at $179.89, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

9.16%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$179.89

TTM FCF ÷ Shares Outstanding

Price / FCF

x11.5

Share Price ÷ FCF per Share

EV / FCF (TTM)

x15.3

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

FCNCA · cash flow statement · operating / investing / financing

For FY2025, First Citizens BancShares, Inc. generated $2.92B in operating cash flow and spent 852M in capital expenditures, yielding $2.07B in free cash flow.

Operating Activities

+$2.92B

Cash from core business operations

2025-12-31

Investing Activities

−$5.61B

CapEx, acquisitions & investments

2025-12-31

Financing Activities

+$2.67B

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($2.92B) − |CapEx| (852M) = FCF ($2.07B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Financial Services)

FCNCA vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

First Citizens BancShares, Inc.YOU

FCNCA

$2.07B+42.5%14.3%

Berkshire Hathaway Inc.

BRK-B

$25.04B+115.6%6.7%

25%

Berkshire Hathaway Inc.

Mastercard Incorporated

$16.91B+18.2%51.6%

17%

Financial Services · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

First Citizens BancShares, Inc. (FCNCA) reported free cash flow of $2.07B for FY2025 (fiscal year ending 2025-12-31), up 42.5% year-over-year. The FCF margin was 14.3%.

Based on available data, First Citizens BancShares, Inc. has maintained positive free cash flow for at least 14 fiscal year(s). FCF peaked at $2.07B in FY2025. The 5-year CAGR stands at +53.5%.

First Citizens BancShares, Inc.'s FCF yield is 9.16% and price-to-FCF ratio is 11.5x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

FCNCA free cash flow · 8 questions

First Citizens BancShares, Inc. free cash flow was $2.07B for FY2025, up 42.5% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $2.22B.

FCNCA free cash flowFCNCA FCFFCNCA FCF 2025FCNCA free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · First Citizens BancShares, Inc. · First Citizens BancShares, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026