FULTON FINANCIAL CORP financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data FULTON FINANCIAL CORP 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
Revenue	188	199	195	211	226	240	227	228	296	277
Interest expense	82.3	93.5	128	177	114	59.7	83.2	419
Pre-tax income	162	172	208	264	202	334	347	349	345	486
Income tax	46.6	62.7	24.6	37.6	24.2	58.7	60	64.4	55.9	94
Net income	162	172	208	226	178	275	287	284	289	392
EPS, basic	0.93	0.98	1.19	1.36	1.08	1.63	1.69	1.66	1.59	2.10
EPS, diluted	0.93	0.98	1.18	1.35	1.08	1.62	1.67	1.64	1.57	2.08
Shares, basic (weighted)	173	175	175	167	162	162	164	165	176	182
Shares, diluted (weighted)	174	176	177	168	163	163	165	167	177	183
Dividend per share	0.41	0.47	0.52	0.56	0.56	0.64	0.66	0.64	0.69	0.73

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	353	402	446	518	1,848	1,639	682	550	1,064	1,062
Property, plant and equipment	218	223	235	240	231	220	225	223	196	175
Lease right-of-use assets				103	84.2	82.4	85.1	88.2	141	140
Goodwill	532	532	532	535	533	534	551	553	553	553
Intangible assets					3.3	3.79	10.3	7.34	82.1
Total assets	18,944	20,037	20,682	21,886	25,907	25,796	26,932	27,572	32,072	32,118
Short-term debt	541	618	755	883	630	417
Total liabilities	16,823	17,807	18,435	19,544	23,290	23,084	24,352	24,812	28,874	28,628
Total debt					1,296	621
Paid-in capital	1,468	1,478	1,490	1,500	1,508	1,520	1,542	1,553	1,789	1,803
Retained earnings	732	822	946	1,079	1,121	1,282	1,451	1,619	1,776	2,025
Treasury stock	-590	-589	-683	-793	-828	-870	-782	-857	-887	-949
Other comprehensive income	-38.4	-33	-59.1	-0.14	65.1	27.4	-385	-312	-288	-199
Shareholders' equity	2,121	2,230	2,248	2,342	2,617	2,713	2,580	2,760	3,197	3,490
Total equity	2,121	2,230	2,248	2,342	2,617	2,713	2,580	2,760	3,197	3,490
Total liabilities and equity	18,944	20,037	20,682	21,886	25,907	25,796	26,932	27,572	32,072	32,118

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	162	172	208	226	178	275	287	284	289	392
Depreciation and amortization	27.4	28.1	28.2	28.2	28.8	28.8	30.2	30.1	39.2	28.3
Stock-based compensation	6.56	5.21	7.97	7.41	7.53	8.4	14	12.5	10.5	13.3
Deferred income tax	11.1	40.5	-16.6	-0.17	-21.6	12.4	8.65	3.6	-23.2	-4.17
Cash from operations	226	288	297	128	157	338	595	363	417	304
Acquisitions		0	0	-5.17	-1.88	-1.98	-21.8	0	-1,018	0
Purchases of investments	-783	-585	-559	-1,138	-1,134	-1,309	-846	-79.1	-1,745	-654
Sales and maturities of investments	559	418	291	83.1	93.8	118	110	59.7	56.5	108
Cash from investing	-1,038	-1,135	-741	-893	-2,499	-210	-1,536	-809	1,629	-82.2
Debt issued	216	223	50	485	496	0.62	0
Debt repaid	-237	-115	-100	-596	-85.4	-711	-81.5	-5	-169	0
Stock issued	16.2	8.54	6.74	6.36	7.38	7.44	7.88	3.16	271	7.71
Share buybacks	-18.5	0	-95.3	-111	-39.7	-43.9	0	-77.1	-30.3	-66
Dividends paid	-69.4	-80.4	-89.7	-92.3	-91	-112	-116	-116	-132	-141
Cash from financing	833	897	487	838	3,672	-338	-15.9	314	-1,532	-225
Net change in cash	21.1	49.6	43.6	72.1	1,330	-209	-957	-132	514	-2.26
Interest paid	83.4	93.8	127	179	112	63	80	394	659	595
Income taxes paid	16.2	6.54	13.5	9.19	16.2	27.9	32.7	18.4	22.8	113

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 $23.23 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Pre-tax margin	170.2%	Pre-tax income / revenue.
Net margin	137.0%	Net income / revenue.
Operating cash flow margin	147.3%	Cash from operations / revenue.
Effective tax rate	19.5%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	10.4%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	1.1%	Net income / average total assets.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-6.5%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	6.8%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	4.1%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	35.6%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	10.9%	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	17.1%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	32.5%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	7.6%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	14.0%	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	-26.9%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-20.0%	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	14.1%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	5.8%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	3.4%	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	5.4%	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	9.2%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	10.6%	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	5.9%	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	0.1%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	6.0%	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	4.4%	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	3.4%	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	2.4%	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
Liabilities / assets	89.0%	Total liabilities / total assets.
Goodwill and intangibles / assets	1.6%	(Goodwill + intangible assets) / total assets.
Tangible book value	$3.25B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.01x	Revenue / average total assets.
Fixed asset turnover	1.56x	Revenue / average property, plant and equipment.

Per share

Metric	Value	How it is calculated
EPS, diluted	$2.05	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.
Revenue per share	$1.50	Revenue / diluted weighted shares.
Operating cash flow per share	$2.21	Cash from operations / diluted weighted shares.
Book value per share	$19.77	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$16.83	Tangible book value / shares outstanding.
Cash per share	$6.54	(Cash + short-term investments) / shares outstanding.
Payout ratio	36.8%	Dividends paid / net income, when net income is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$4.43B	Share price x shares outstanding.
Enterprise value	$3.17B	Market cap + total debt - cash - short-term investments.
P/E	11.2x	Market cap / net income. Only when net income is positive.
P/S	15.3x	Market cap / revenue.
P/B	1.16x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.37x	Market cap / tangible book value, when positive.
P/OCF	10.4x	Market cap / cash from operations, when positive.
EV/Sales	11.0x	Enterprise value / revenue.
Earnings yield	8.9%	Net income / market cap (the inverse of P/E).
Dividend yield	3.3%	Dividends paid over the period / market cap.
Shareholder yield	5.4%	(Dividends paid + share buybacks) / market cap.
PEG	1.47x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was FULTON FINANCIAL CORP's revenue in fiscal 2025?

FULTON FINANCIAL CORP reported revenue of $276.8M for fiscal 2025, 6.5% lower than the year before.

Was FULTON FINANCIAL CORP profitable in fiscal 2025?

Yes. Net income was $391.6M, a net margin of 141.5%.

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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