FIRST FINANCIAL CORP /IN/ financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data FIRST FINANCIAL CORP /IN/ 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	FY2023	FY2025
Interest expense	4.41	6.34	9.65	17.5	14.1	8.8	18.3	61.1
Pre-tax income	58.3	49.8	57.7	61	65.5	65.6	87.8	72.5	57.2	98.7
Income tax	19.9	20.6	11.1	12.1	11.7	12.6	16.7	11.8	9.88	19.5
Net income	38.4	29.1	46.6	48.9	53.8	53	71.1	60.7	47.3	79.2
EPS, basic	3.12	2.38	3.80	3.80	3.93	4.02	5.82	5.08	4.00	6.68
EPS, diluted	3.12	2.38	3.80	3.80	3.93	4.02	5.82	5.08	4.00	6.68
Shares, basic (weighted)	12.3	12.2	12.3	12.9	13.7	13.2	12.2	11.9	11.8	11.9
Shares, diluted (weighted)	12.3	12.2	12.3	12.9	13.7	13.2	12.2	11.9	11.8	11.9
Dividend per share	1.00	2.51	1.02	1.04	1.05	1.16	1.28	0.99	1.86	2.09

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2023	FY2025
Cash and equivalents	75	74.1	74.4	127	657	688	223	76.8	93.5	130
Property, plant and equipment	49.2	48.3	46.6	62.6	62.1	69.5	66.1	67.3	81.5	78.6
Lease right-of-use assets						6.2	5.84	5.39	7.73	7.39
Goodwill	34.4	34.4	34.4	78.6	78.6	86.1	87	87	100	98.2
Intangible assets	2.11	1.63	1.2	10.6	8.97	8.02	6.71	5.59	21.5	16.2
Total assets	2,989	3,001	3,009	4,023	4,561	5,175	4,989	4,851	5,560	5,756
Short-term debt						93.4
Total liabilities	2,574	2,587	2,566	3,466	3,964	4,593	4,514	4,323	5,011	5,105
Total debt	0.13	0	0	0.03	0.01	15.9	9.59	109	28.1	188
Paid-in capital	74.5	75.6	76.8	140	141	142	143	144	146	147
Retained earnings	422	420	457	492	521	559	615	664	687	742
Treasury stock	-69.6	-69.4	-69.2	-68.6	-76.7	-118	-145	-155	-154	-154
Other comprehensive income	-14.2	-14.7	-23.5	-7.5	9.76	-2.43	-140	-127	-132	-86.7
Shareholders' equity	414	414	443	547	597	583	475	528	549	651
Total equity	414	414	443	547	597	583	475	528	549	651
Total liabilities and equity	2,989	3,001	3,009	4,023	4,561	5,175	4,989	4,851	5,560	5,756
Shares outstanding	12.2	12.2	12.3	13.7	13.6	12.6	12.1	11.8	11.8	11.9

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2023	FY2025
Net income	38.4	29.1	46.6	48.9	53.8	53	71.1	60.7	47.3	79.2
Depreciation and amortization	4.97	4.43	4.16	4.83	6.09	6.15	6.11	6.53	9.95	12.2
Stock-based compensation	0.68	0.71	0.75	0.8	0.82	0.81	0	0	0	0
Deferred income tax	-1.51	-4.24	-2.43	-2.84	-3.77	-1.57	-3.15	-0.47	3.28	-0.79
Cash from operations	41.2	50.1	57.4	49.9	77.4	55.1	78.8	86.1	60.4	90.4
Capital expenditures	-3.05	-2.98	-2.01	-1.1	-3.91	-3.84	-1.43	-6.54	-6.11	-3.98
Acquisitions		0	0	-32.8	0	-23.1			28.2
Purchases of investments				-129	-366	-590	-345	-30.5	-40.1	-110
Sales and maturities of investments	169	142	143	182	261	262	180	112	113	126
Cash from investing	-44.1	-26.7	-34.3	-32.9	-16.2	-312	-434	-22.1	-66.1	-126
Share buybacks	-19.4	-0.5	-0.39	-0.32	-9.22	-42.5	-27.7	-11.5	-0.38	-0.8
Dividends paid	-12.4	-30.6	-12.5	-12.6	-14.3	-14.2	-14.5	-15.4	-21.2	-24.2
Cash from financing	-10.8	-24.4	-22.8	36	469	288	-111	-210	22.5	72.6
Net change in cash		-0.91	0.28	53	530	30.6	-466	-146	16.8	36.8
Free cash flow	38.1	47.2	55.4	48.8	73.5	51.2	77.4	79.5	54.3	86.4
Interest paid	4.43	6.34	9.41	16.3	14.8	9.14	18.5	59	88.5	86.4
Income taxes paid	18.7	11.2	7.19	9.6	7.55	15	13.5	11.4	10.5	13.1

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 $75.56 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Effective tax rate	19.2%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	12.5%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	1.4%	Net income / average total assets.

Growth

Metric	Value	How it is calculated
Net income growth, 1y	67.5%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	3.7%	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	8.0%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	67.0%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	4.7%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	11.2%	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	49.8%	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	3.1%	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	59.3%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	3.8%	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	3.3%	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	12.4%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	17.8%	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	14.8%	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	18.5%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	11.0%	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	1.7%	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	3.5%	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	4.8%	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	0.3%	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	-1.0%	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	-2.9%	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	0.43x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	4.7%	Total debt / total assets.
Liabilities / assets	89.1%	Total liabilities / total assets.
Net debt	$194.8M	Total debt - cash - short-term investments. Negative means more cash than debt.
Goodwill and intangibles / assets	1.9%	(Goodwill + intangible assets) / total assets.
Tangible book value	$558.7M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
FCF conversion	109.8%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	4.4%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$7.13	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	$7.82	Free cash flow / diluted weighted shares.
Operating cash flow per share	$8.18	Cash from operations / diluted weighted shares.
Book value per share	$56.83	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$46.98	Tangible book value / shares outstanding.
Cash per share	$8.13	(Cash + short-term investments) / shares outstanding.
Payout ratio	30.0%	Dividends paid / net income, when net income is positive.
Dividends / FCF	27.3%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	0.4%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$898.6M	Share price x shares outstanding.
Enterprise value	$1.09B	Market cap + total debt - cash - short-term investments.
P/E	10.6x	Market cap / net income. Only when net income is positive.
P/B	1.33x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.61x	Market cap / tangible book value, when positive.
P/FCF	9.66x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	9.23x	Market cap / cash from operations, when positive.
EV/FCF	11.8x	Enterprise value / free cash flow, when both are positive.
FCF yield	10.4%	Free cash flow / market cap.
Earnings yield	9.4%	Net income / market cap (the inverse of P/E).
Dividend yield	2.8%	Dividends paid over the period / market cap.
Shareholder yield	2.9%	(Dividends paid + share buybacks) / market cap.
PEG	2.25x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

Was FIRST FINANCIAL CORP /IN/ profitable in fiscal 2025?

Yes. Net income was $79.2M, a net margin of -.

How much free cash flow did FIRST FINANCIAL CORP /IN/ generate in fiscal 2025?

Cash from operations of $90.4M minus capital expenditures of $4.0M left free cash flow of $86.4M.

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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