Stocks FNLC Financial statements
Financial statementsFirst Bancorp, Inc /ME/ financial statements
Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data First Bancorp, Inc /ME/ 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 | 1.1 | 1.21 | 1.17 | 1.17 | 0.98 | 1.18 | 1.3 | 1.19 | 1.23 | 1.23 |
| Interest expense | 10.8 | 13.5 | 20.3 | 26.2 | 17.3 | 10.8 | 16.9 | 63 | ||
| Pre-tax income | 24.5 | 26.2 | 27.8 | 30.3 | 32.3 | 43.9 | 47.4 | 35.7 | 32.6 | 41.9 |
| Income tax | 6.45 | 6.61 | 4.31 | 4.74 | 5.12 | 7.64 | 8.4 | 6.18 | 5.54 | 7.55 |
| Net income | 18 | 19.6 | 23.5 | 25.5 | 27.1 | 36.3 | 39 | 29.5 | 27 | 34.4 |
| EPS, basic | 1.68 | 1.82 | 2.18 | 2.36 | 2.50 | 3.33 | 3.56 | 2.68 | 2.45 | 3.10 |
| EPS, diluted | 1.66 | 1.81 | 2.17 | 2.34 | 2.48 | 3.30 | 3.53 | 2.66 | 2.43 | 3.07 |
| Shares, basic (weighted) | 10.7 | 10.7 | 10.8 | 10.8 | 10.9 | 10.9 | 10.9 | 11 | 11.1 | 11.1 |
| Shares, diluted (weighted) | 10.8 | 10.8 | 10.9 | 10.9 | 10.9 | 11 | 11 | 11.1 | 11.1 | 11.2 |
| Dividend per share | 1.03 | 0.95 | 1.11 | 1.19 | 1.23 | 1.27 | 1.34 | 1.39 | 1.43 | 1.47 |
Balance sheet
| FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | 17.4 | 19.2 | 19.1 | 14.4 | 26.2 | 20.6 | 22.7 | 31.9 | 27.6 | 27.8 |
| Property, plant and equipment | 22.2 | 22.5 | 22.1 | 21.3 | 27.3 | 28.9 | ||||
| Lease right-of-use assets | 0 | 0.51 | 0.82 | 0.74 | 0.65 | 0.57 | 0.48 | |||
| Goodwill | 29.8 | 29.8 | 29.8 | 29.8 | 30.6 | 30.6 | 30.6 | 30.6 | 30.6 | 30.6 |
| Total assets | 1,713 | 1,843 | 1,945 | 2,069 | 2,361 | 2,527 | 2,739 | 2,947 | 3,157 | 3,166 |
| Short-term debt | 159 | 114 | 145 | 175 | 207 | 81.3 | 103 | 69.7 | 51.3 | 92.3 |
| Total liabilities | 1,540 | 1,662 | 1,753 | 1,856 | 2,138 | 2,281 | 2,510 | 2,704 | 2,905 | 2,883 |
| Total debt | 120 | 115 | 65.1 | 10.1 | 55.1 | 55.1 | 0.08 | 0 | 95 | 95.5 |
| Paid-in capital | 60.7 | 61.7 | 62.7 | 64 | 65.3 | 66.8 | 68.4 | 70.1 | 71.8 | 73.7 |
| Retained earnings | 112 | 121 | 132 | 145 | 158 | 180 | 204 | 212 | 223 | 240 |
| Shareholders' equity | 173 | 181 | 192 | 213 | 224 | 246 | 229 | 243 | 252 | 283 |
| Total equity | 173 | 181 | 192 | 213 | 224 | 246 | 229 | 243 | 252 | 283 |
| Total liabilities and equity | 1,713 | 1,843 | 1,945 | 2,069 | 2,361 | 2,527 | 2,739 | 2,947 | 3,157 | 3,166 |
| Shares outstanding | 10.8 | 10.8 | 10.9 | 10.9 | 11 | 11 | 11 | 11.1 | 11.2 | 11.2 |
Cash flow statement
| FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income | 18 | 19.6 | 23.5 | 25.5 | 27.1 | 36.3 | 39 | 29.5 | 27 | 34.4 |
| Depreciation and amortization | 1.75 | 1.86 | 1.79 | 1.94 | 2.22 | 2.04 | 1.98 | 2.11 | 2.21 | 2.21 |
| Stock-based compensation | 0.3 | 0.39 | 0.38 | 0.57 | 0.65 | 0.86 | 0.81 | 0.82 | 0.9 | 0.97 |
| Deferred income tax | -0.14 | 2.08 | -0.49 | 0.34 | -0.26 | 1 | -0.13 | -1.36 | 0.02 | 0.08 |
| Cash from operations | 21.2 | 22.3 | 33.8 | 26.1 | 22.7 | 56.7 | 41.2 | 36.9 | 26 | 37.8 |
| Capital expenditures | -2.13 | -2.53 | -1.48 | -1.57 | -2.54 | -3.76 | -1.4 | -2.64 | -1.48 | -3.22 |
| Acquisitions | 0 | 0 | -6.06 | 0 | 0 | |||||
| Purchases of investments | -172 | -177 | -76.9 | -98.3 | -197 | -141 | -62.3 | -88.6 | -26.7 | -14.1 |
| Sales and maturities of investments | 79.2 | 157 | 51.8 | 78.8 | 142 | 104 | 42 | 97.5 | 29.7 | 38.1 |
| Cash from investing | -148 | -130 | -112 | -116 | -250 | -202 | -248 | -200 | -217 | -3 |
| Stock issued | 0.53 | 0.63 | 0.62 | 0.65 | 0.67 | 0.69 | 0.8 | 0.82 | 0.87 | 0.92 |
| Share buybacks | -0.13 | -0.15 | -0.17 | -0.18 | -0.16 | -0.25 | -0.28 | -0.25 | -0.21 | -0.28 |
| Dividends paid | -9.81 | -11.5 | -12.1 | -13 | -13.3 | -13.9 | -14.8 | -15.4 | -15.8 | -16.3 |
| Cash from financing | 130 | 110 | 78.2 | 85.5 | 239 | 139 | 208 | 172 | 187 | -34.7 |
| Net change in cash | 3.07 | 1.84 | -0.07 | -4.7 | 11.8 | -5.58 | 2.09 | 9.21 | -4.31 | 0.14 |
| Free cash flow | 19.1 | 19.7 | 32.4 | 24.5 | 20.2 | 52.9 | 39.8 | 34.3 | 24.6 | 34.6 |
| Interest paid | 10.8 | 13.4 | 20.1 | 26.1 | 17.6 | 11.1 | 16.1 | 62.2 | 84.4 | 83 |
| Income taxes paid | 6.37 | 5.73 | 3.06 | 3.99 | 5.05 | 6.55 | 8.01 | 5.62 | 4.53 | 5.67 |
Key metrics
Profitability
| Metric | Value | How it is calculated |
|---|---|---|
| Effective tax rate | 17.7% | Income tax / pre-tax income, when pre-tax income is positive. |
| Return on equity (ROE) | 12.9% | 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 | 27.2% | Net income vs the same period a year earlier. Only from a positive base. |
| Net income CAGR, 3y | -4.1% | 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 | 4.9% | Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| EPS growth, 1y | 26.3% | EPS vs the same period a year earlier. Only from a positive base. |
| EPS CAGR, 3y | -4.5% | Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| EPS CAGR, 5y | 4.4% | 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 | 45.2% | Operating cash flow vs the same period a year earlier. Only from a positive base. |
| Operating cash flow CAGR, 3y | -2.8% | 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 | 10.7% | 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 | 40.8% | Free cash flow vs the same period a year earlier. Only from a positive base. |
| Free cash flow CAGR, 3y | -4.6% | 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 | 11.4% | 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 | 2.8% | Dividend per share vs the same period a year earlier. Only from a positive base. |
| Dividend per share CAGR, 3y | 3.1% | 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 | 3.6% | 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 | 12.1% | Book value vs the same period a year earlier. Only from a positive base. |
| Book value CAGR, 3y | 7.3% | 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 | 4.8% | 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 | 0.3% | Total assets vs the same period a year earlier. Only from a positive base. |
| Total assets CAGR, 3y | 4.9% | 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 | 6.0% | 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 | 0.6% | 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 | 0.5% | 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 | 0.5% | 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 | 0.12x | Total debt / shareholders' equity. Not shown when equity is negative. |
| Debt / assets | 1.1% | Total debt / total assets. |
| Liabilities / assets | 90.9% | Total liabilities / total assets. |
| Net debt | $5.7M | 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 | $262.3M | Shareholders' equity - goodwill - intangible assets. |
Efficiency
| Metric | Value | How it is calculated |
|---|---|---|
| FCF conversion | 94.2% | Free cash flow / net income, when net income is positive. |
| Capex / operating cash flow | 6.4% | Capital expenditures / cash from operations, when that is positive. |
Per share
| Metric | Value | How it is calculated |
|---|---|---|
| EPS, diluted | $3.37 | 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 | $3.16 | Free cash flow / diluted weighted shares. |
| Operating cash flow per share | $3.38 | Cash from operations / diluted weighted shares. |
| Book value per share | $25.97 | Shareholders' equity / shares outstanding (diluted weighted shares when not reported). |
| Tangible book per share | $23.26 | Tangible book value / shares outstanding. |
| Cash per share | $2.64 | (Cash + short-term investments) / shares outstanding. |
| Payout ratio | 44.0% | Dividends paid / net income, when net income is positive. |
| Dividends / FCF | 46.7% | Dividends paid / free cash flow, when free cash flow is positive. |
| Buybacks / FCF | 0.9% | Share buybacks / free cash flow, when free cash flow is positive. |
Valuation
| Metric | Value | How it is calculated |
|---|---|---|
| Market cap | $387.5M | Share price x shares outstanding. |
| Enterprise value | $393.3M | Market cap + total debt - cash - short-term investments. |
| P/E | 10.3x | Market cap / net income. Only when net income is positive. |
| P/B | 1.32x | Market cap / shareholders' equity. Only when equity is positive. |
| Price / tangible book | 1.48x | Market cap / tangible book value, when positive. |
| P/FCF | 10.9x | Market cap / free cash flow. Only when free cash flow is positive. |
| P/OCF | 10.2x | Market cap / cash from operations, when positive. |
| EV/FCF | 11.0x | Enterprise value / free cash flow, when both are positive. |
| FCF yield | 9.2% | Free cash flow / market cap. |
| Earnings yield | 9.8% | Net income / market cap (the inverse of P/E). |
| Dividend yield | 4.3% | Dividends paid over the period / market cap. |
| Shareholder yield | 4.4% | (Dividends paid + share buybacks) / market cap. |
Was First Bancorp, Inc /ME/ profitable in fiscal 2025?
Yes. Net income was $34.4M, a net margin of -.
How much free cash flow did First Bancorp, Inc /ME/ generate in fiscal 2025?
Cash from operations of $37.8M minus capital expenditures of $3.2M left free cash flow of $34.6M.