First BanCorp (OLWN) - Net Assets
Based on the latest financial reports, First BanCorp (OLWN) has net assets worth €1.92 Billion EUR (≈ $2.24 Billion USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (€19.32 Billion ≈ $22.59 Billion USD) and total liabilities (€17.40 Billion ≈ $20.35 Billion USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check OLWN asset resilience ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | €1.92 Billion |
| % of Total Assets | 9.93% |
| Annual Growth Rate | -0.02% |
| 5-Year Change | -26.63% |
| 10-Year Change | -1.47% |
| Growth Volatility | 13.91 |
First BanCorp - Net Assets Trend (2014–2024)
This chart illustrates how First BanCorp's net assets have evolved over time, based on quarterly financial data. Also explore total assets of First BanCorp for the complete picture of this company's asset base.
Annual Net Assets for First BanCorp (2014–2024)
The table below shows the annual net assets of First BanCorp from 2014 to 2024. For live valuation and market cap data, see First BanCorp stock valuation.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | €1.67 Billion ≈ $1.95 Billion |
+11.46% |
| 2023-12-31 | €1.50 Billion ≈ $1.75 Billion |
+12.98% |
| 2022-12-31 | €1.33 Billion ≈ $1.55 Billion |
-36.93% |
| 2021-12-31 | €2.10 Billion ≈ $2.46 Billion |
-7.62% |
| 2020-12-31 | €2.28 Billion ≈ $2.66 Billion |
+2.11% |
| 2019-12-31 | €2.23 Billion ≈ $2.60 Billion |
+8.97% |
| 2018-12-31 | €2.04 Billion ≈ $2.39 Billion |
+9.40% |
| 2017-12-31 | €1.87 Billion ≈ $2.19 Billion |
+4.64% |
| 2016-12-31 | €1.79 Billion ≈ $2.09 Billion |
+5.44% |
| 2015-12-31 | €1.69 Billion ≈ $1.98 Billion |
+1.34% |
| 2014-12-31 | €1.67 Billion ≈ $1.95 Billion |
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Equity Component Analysis
This analysis shows how different components contribute to First BanCorp's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 152.4% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | €1.81 Billion | 108.35% |
| Total Equity | €1.67 Billion | 100.00% |
First BanCorp Competitors by Market Cap
The table below lists competitors of First BanCorp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
COSCO SHIPPING Energy Transportation Co. Ltd
F:HIFH
|
$2.95 Billion |
|
PNB Housing Finance Limited
NSE:PNBHOUSING
|
$2.95 Billion |
|
XL Axiata Tbk PT
JK:EXCL
|
$2.95 Billion |
|
Wedge Industrial Co Ltd
SHE:000534
|
$2.95 Billion |
|
Integer Holdings Corp
NYSE:ITGR
|
$2.94 Billion |
|
Inter Parfums Inc
NASDAQ:IPAR
|
$2.94 Billion |
|
Shenzhen Hopewind Elec Co Ltd
SHG:603063
|
$2.94 Billion |
|
Greentown China Holdings Limited
F:G7C
|
$2.94 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in First BanCorp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 1,497,609,000 to 1,669,236,000, a change of 171,627,000 (11.5%).
- Net income of 298,724,000 contributed positively to equity growth.
- Dividend payments of 105,581,000 reduced retained earnings.
- Share repurchases of 102,393,000 reduced equity.
- Other factors increased equity by 80,877,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | €298.72 Million | +17.9% |
| Dividends Paid | €105.58 Million | -6.33% |
| Share Repurchases | €102.39 Million | -6.13% |
| Other Changes | €80.88 Million | +4.85% |
| Total Change | €- | 11.46% |
Book Value vs Market Value Analysis
This analysis compares First BanCorp's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.98x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 2.34x to 1.98x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2017-12-31 | €8.64 | €20.20 | x |
| 2018-12-31 | €9.41 | €20.20 | x |
| 2019-12-31 | €10.25 | €20.20 | x |
| 2020-12-31 | €10.43 | €20.20 | x |
| 2021-12-31 | €10.41 | €20.20 | x |
| 2022-12-31 | €7.25 | €20.20 | x |
| 2023-12-31 | €8.85 | €20.20 | x |
| 2024-12-31 | €10.19 | €20.20 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently First BanCorp utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 17.90%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 33.01%
- • Asset Turnover: 0.05x
- • Equity Multiplier: 11.56x
- Recent ROE (17.90%) is above the historical average (11.86%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2014 | 23.98% | 83.23% | 0.04x | 7.78x | €228.72 Million |
| 2015 | 1.28% | 4.86% | 0.03x | 7.58x | €-144.51 Million |
| 2016 | 5.22% | 16.96% | 0.05x | 6.67x | €-85.40 Million |
| 2017 | 3.58% | 12.52% | 0.04x | 6.56x | €-119.95 Million |
| 2018 | 9.86% | 34.55% | 0.05x | 5.99x | €-2.86 Million |
| 2019 | 7.51% | 26.29% | 0.05x | 5.66x | €-55.43 Million |
| 2020 | 4.50% | 14.38% | 0.04x | 8.26x | €-125.24 Million |
| 2021 | 13.37% | 33.62% | 0.04x | 9.89x | €70.85 Million |
| 2022 | 23.01% | 33.55% | 0.05x | 14.06x | €172.52 Million |
| 2023 | 20.22% | 33.76% | 0.05x | 12.63x | €153.10 Million |
| 2024 | 17.90% | 33.01% | 0.05x | 11.56x | €131.80 Million |
Industry Comparison
This section compares First BanCorp's net assets metrics with peer companies in the Banks - Regional industry.
Industry Context
- Industry: Banks - Regional
- Average net assets among peers: $4,686,456,747,900
- Average return on equity (ROE) among peers: 9.51%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| First BanCorp (OLWN) | €1.92 Billion | 23.98% | 9.07x | $2.94 Billion |
| Grupo Supervielle S.A (189A) | $53.42 Billion | -1.61% | 6.34x | $610.24 Million |
| Bank of Zhengzhou Co. Ltd (3BZ) | $39.89 Billion | 8.24% | 11.55x | $252.75 Million |
| Manx Financial Group PLC (3IM) | $37.31 Million | 21.71% | 12.34x | $31.55 Million |
| Postal Savings Bank of China Co Ltd (3YB) | $544.88 Billion | 11.18% | 17.75x | $12.54 Billion |
| PO.S.B.O. UNSP.ADRS/20YC1 (3YB0) | $1.03 Trillion | 8.38% | 15.56x | $13.93 Billion |
| TISCO Financial Group Public Company Limited (47TA) | $34.73 Billion | 17.53% | 7.74x | $2.49 Billion |
| Bank of Qingdao Co. Ltd (4BQ) | $26.12 Billion | 7.27% | 10.72x | $1.47 Billion |
| Harbin Bank Co. Ltd (5H6) | $42.41 Billion | 12.38% | 12.31x | $137.86 Million |
| JAPAN POST BK UNSP.ADR/1 (5JP0) | $9.65 Trillion | 3.37% | 22.79x | $53.42 Billion |
| Grupo Aval Acciones y Valores S.A (6GAA) | $35.44 Trillion | 6.63% | 8.11x | $1.61 Billion |
About First BanCorp
First BanCorp. operates as the bank holding company for FirstBank Puerto Rico that provides financial products and services to consumers and commercial customers. It operates through six segments: Mortgage Banking; Consumer (Retail) Banking; Commercial and Corporate Banking; Treasury and Investments; United States Operations; and Virgin Islands Operations. The Mortgage Banking segment engages in … Read more