POPULAR, INC. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data POPULAR, INC. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Selling and marketing	53	58.4	65.9	75.4	57.6	73	88.9	94.9	102	107
Interest expense	213	224	287	369	235	165	299	1,114	1,391	1,242
Pre-tax income	294	339	738	818	619	1,244	1,235	676	797	1,007
Income tax	78.8	231	120	147	112	309	132	134	182	174
Income from continuing operations	216	108	618
Net income	217	108	618	671	507	935	1,103	541	614	833
EPS, basic	2.06	1.02	6.07	6.89	5.88	11.49	14.65	7.53	8.56	12.31
EPS, diluted	2.06	1.02	6.06	6.88	5.87	11.46	14.63	7.52	8.56	12.30
Shares, basic (weighted)	103	102	101	96.8	85.9	81.3	75.1	71.7	71.6	67.6
Shares, diluted (weighted)	103	102	101	97	86	81.4	75.3	71.8	71.6	67.6
Dividend per share	0.60	1.00	1.00	1.20	1.60	0.45	2.20	2.27	2.56	2.90

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	374	413	403	394	497	435	476	428	429	413
Property, plant and equipment	544	547	570	557	510	494	499	565	602	686
Lease right-of-use assets			0	150	132	142	126	116	93.4	95.2
Goodwill	627	627	671	671	671	720	827	804	803	790
Intangible assets	45.1	35.7	26.8	28.8	22.5	16.2	12.9	9.76	6.83	5.08
Total assets	38,662	44,277	47,605	52,115	65,926	75,098	67,638	70,758	73,045	75,348
Total liabilities	33,464	39,173	42,170	46,099	59,897	69,129	63,544	65,611	67,432	69,099
Total debt	2,055	2,023	1,538	1,295	1,346	1,155	1,400	1,078	1,176	1,449
Paid-in capital	4,255	4,299	4,366	4,447	4,572	4,650	4,791	4,843	4,909	4,924
Retained earnings	1,220	1,195	1,652	2,148	2,261	2,974	3,834	4,195	4,571	5,206
Treasury stock	-8.29	-90.1	-206	-460	-1,017	-1,353	-2,030	-2,019	-2,229	-2,723
Other comprehensive income	-320	-351	-428	190	-325	-325	-2,525	-1,896	-1,661	-1,182
Shareholders' equity	5,198	5,104	5,435	6,017	6,029	5,969	4,093	5,147	5,613	6,249
Total equity	5,198	5,104	5,435	6,017	6,029	5,969	4,093	5,147	5,613	6,249
Total liabilities and equity	38,662	44,277	47,605	52,115	65,926	75,098	67,638	70,758	73,045	75,348
Shares outstanding	104	102	99.9	95.6	84.2	79.9	71.9	72.2	70.1	65.7

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	217	108	618	671	507	935	1,103	541	614	833
Depreciation and amortization	45.7	47.1	52.5	58.1	58.4	55.1	55.1	58.5	57.1	53.3
Deferred income tax	60.7	207	-14	141	75	229	-33.1	-43.1	23.7	6.38
Cash from operations	597	636	848	705	679	1,005	1,015	687	675	878
Capital expenditures	-100	-62.7	-80.5	-75.7	-60.1	-72.8	-104	-208	-213	-197
Acquisitions	0	0	-1,843	0	0	-156	0	0
Purchases of investments				-18,733	-21,034	-14,673	-22,232	-16,707	-34,340	-36,752
Sales and maturities of investments	1,228	2,023	6,946	14,650	18,224	9,602	20,144	18,216	33,789	35,212
Cash from investing	-3,455	-5,352	-4,391	-4,170	-13,068	-10,519	5,350	-2,613	-1,632	-1,759
Stock issued	7.44
Share buybacks									-217
Dividends paid	-65.9	-95.9	-105	-116	-134	-141	-162	-160	-180	-198
Cash from financing	2,853	4,754	3,534	3,456	12,492	9,451	-6,323	1,878	960	865
Net change in cash	-4.69	38.4	-9.38	-8.93	103	-62.6	41.6	-48.6	1.83	-16.4
Free cash flow	496	574	767	630	619	932	911	479	461	681
Interest paid	212	221	297	369	240	170	292	1,094	1,389	1,236
Income taxes paid	3.76	2.43	4.12	14.5	13	65	179	185	187	204

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $158.85 on September 28, 2026.

Profitability

Metric	Value	How it is calculated
Effective tax rate	15.2%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	15.1%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	1.2%	Net income / average total assets.

Growth

Metric	Value	How it is calculated
Net income growth, 1y	35.6%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-8.9%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	10.5%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	43.7%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-5.6%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	15.9%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	30.2%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-4.7%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	5.3%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	47.6%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	-9.2%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	1.9%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	13.3%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	9.6%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	12.6%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	11.3%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	15.1%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	0.7%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	3.2%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	3.7%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	2.7%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-5.6%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-3.5%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-4.7%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Debt / equity	0.23x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	1.9%	Total debt / total assets.
Liabilities / assets	91.9%	Total liabilities / total assets.
Net debt	$1.09B	Total debt - cash - short-term investments. Negative means more cash than debt.
Goodwill and intangibles / assets	1.0%	(Goodwill + intangible assets) / total assets.
Tangible book value	$5.64B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
FCF conversion	83.3%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	19.5%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$15.16	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
FCF per share	$12.63	Free cash flow / diluted weighted shares.
Operating cash flow per share	$15.68	Cash from operations / diluted weighted shares.
Book value per share	$100.73	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$88.29	Tangible book value / shares outstanding.
Cash per share	$5.87	(Cash + short-term investments) / shares outstanding.
Payout ratio	20.4%	Dividends paid / net income, when net income is positive.
Dividends / FCF	24.5%	Dividends paid / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$10.13B	Share price x shares outstanding.
Enterprise value	$11.22B	Market cap + total debt - cash - short-term investments.
P/E	10.5x	Market cap / net income. Only when net income is positive.
P/B	1.57x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.80x	Market cap / tangible book value, when positive.
P/FCF	12.6x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	10.1x	Market cap / cash from operations, when positive.
EV/FCF	13.9x	Enterprise value / free cash flow, when both are positive.
FCF yield	8.0%	Free cash flow / market cap.
Earnings yield	9.6%	Net income / market cap (the inverse of P/E).
Dividend yield	2.0%	Dividends paid over the period / market cap.
Shareholder yield	2.0%	(Dividends paid + share buybacks) / market cap.

Was POPULAR, INC. profitable in fiscal 2025?

Yes. Net income was $833.2M, a net margin of -.

How much free cash flow did POPULAR, INC. generate in fiscal 2025?

Cash from operations of $878.4M minus capital expenditures of $197.5M left free cash flow of $681.0M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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