FRBA - First Bank
Price:
--
--
|
CONSENSUS:
Buy
DETAILS
|
PRICE TARGET:
$17.00
DETAILS
HIGH:
$17.00
LOW:
$17.00
MEDIAN:
$17.00
CONSENSUS:
$17.00
UPSIDE:
9.75%
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||||||||
| Revenue | 246.8 | 229.4 | 173.3 | 112.4 | 98.9 | 95.6 | 88.2 | 76.2 | 53.3 | 40.0 | 32.4 | 21.3 | 12.2 | 10.0 |
| Cost of Revenue | 110.5 | 100.8 | 77.4 | 17.8 | 9.0 | 29.2 | 29.8 | 21.2 | 14.2 | 12.1 | 9.6 | 4.1 | 3.4 | 3.3 |
| Gross Profit | 136.3 | 128.7 | 95.9 | 94.6 | 89.9 | 66.4 | 58.4 | 54.9 | 39.1 | 27.8 | 22.8 | 17.1 | 8.8 | 6.7 |
| Operating Expenses | ||||||||||||||
| R&D Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| SG&A Expenses | 54.9 | 44.1 | 37.3 | 29.5 | 27.5 | 26.7 | 24.3 | 21.1 | 15.0 | 11.7 | 11.1 | 13.3 | 8.1 | 6.3 |
| Other Expenses | 24.0 | 29.4 | 31.4 | 17.2 | 15.7 | 13.7 | 15.1 | 12.2 | 9.7 | 6.6 | 6.6 | 0 | 0 | 0 |
| Operating Expenses | 79.0 | 73.5 | 68.7 | 46.7 | 43.2 | 40.4 | 39.4 | 33.3 | 24.7 | 18.3 | 17.7 | 13.2 | 8.1 | 7.7 |
| Operating Income | ||||||||||||||
| Operating Income | 57.3 | 55.1 | 27.2 | 47.9 | 46.7 | 26.0 | 19.0 | 21.6 | 14.4 | 9.5 | 5.1 | 8.0 | 3.5 | 3.1 |
| Interest Expense | 98.6 | 99.6 | 69.5 | 14.9 | 9.2 | 19.6 | 25.8 | 17.8 | 11.5 | 9.4 | 6.9 | 4.1 | 3.4 | 3.3 |
| Interest Income | 236.4 | 222.1 | 174.0 | 107.3 | 91.1 | 89.2 | 84.2 | 72.7 | 51.2 | 38.3 | 30.8 | 0 | 0 | 0 |
| Profitability | ||||||||||||||
| EBITDA | 57.3 | 59.5 | 30.0 | 49.4 | 48.3 | 27.9 | 20.7 | 23.0 | 15.1 | 10.1 | 5.7 | 1.0 | (0.7) | (0.1) |
| EBIT | 57.3 | 55.1 | 27.2 | 47.9 | 46.7 | 26.0 | 19.0 | 21.6 | 14.4 | 9.5 | 5.1 | 8.1 | 2.8 | 2.3 |
| Income Before Tax | 57.3 | 55.1 | 27.2 | 47.9 | 46.7 | 26.0 | 19.0 | 21.6 | 14.4 | 9.5 | 5.1 | 8.1 | 2.8 | 2.3 |
| Income Tax Expense | 13.6 | 12.9 | 6.3 | 11.6 | 11.3 | 6.5 | 5.6 | 4.0 | 7.4 | 3.1 | 1.2 | 2.2 | 1.1 | (0.3) |
| Net Income | 43.7 | 42.2 | 20.9 | 36.3 | 35.4 | 19.4 | 13.4 | 17.6 | 7.0 | 6.4 | 3.9 | 5.8 | 1.7 | 2.6 |
| Per Share Data | ||||||||||||||
| EPS (Basic) | 1.75 | 1.68 | 0.95 | 1.86 | 1.81 | 0.98 | 0.70 | 0.97 | 0.49 | 0.61 | 0.41 | 0.63 | 0.33 | 0.63 |
| EPS (Diluted) | 1.74 | 1.67 | 0.95 | 1.84 | 1.79 | 0.97 | 0.69 | 0.95 | 0.48 | 0.61 | 0.41 | 0.63 | 0.33 | 0.63 |
| Shares Outstanding | 24.9 | 25.1 | 21.9 | 19.5 | 19.6 | 19.9 | 19.1 | 18.2 | 14.2 | 10.4 | 9.4 | 9.3 | 5.2 | 4.1 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Assets | ||||||||||
| Cash & Cash Equivalents | 302.2 | 258.4 | 215.2 | 113.6 | 155.8 | 99.8 | 47.9 | 36.4 | 47.5 | 32.7 |
| Short-Term Investments | 97.5 | 67.7 | 94.1 | 99.0 | 94.6 | 61.7 | 47.5 | 51.3 | 62.4 | 47.1 |
| Net Receivables | 14.4 | 14.3 | 14.8 | 8.2 | 5.7 | 6.8 | 4.8 | 4.3 | 3.8 | 2.6 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Assets | 7.8 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Assets | 421.8 | 340.3 | 324.1 | 220.7 | 256.0 | 168.4 | 100.2 | 91.9 | 113.7 | 82.4 |
| Non-Current Assets | ||||||||||
| Property, Plant & Equipment | 18.4 | 21.4 | 21.6 | 10.6 | 9.9 | 10.7 | 11.9 | 11.0 | 5.9 | 3.3 |
| Goodwill | 44.2 | 44.2 | 44.2 | 17.8 | 17.8 | 16.3 | 16.3 | 16.1 | 10.5 | 0 |
| Intangible Assets | 7.1 | 8.8 | 10.8 | 1.6 | 2.1 | 1.7 | 2.1 | 1.5 | 0.9 | 0.2 |
| Long-Term Investments | 3,313.5 | 3,176.8 | 3,034.9 | 2,367.9 | 2,149.3 | 2,067.7 | 1,759.3 | 1,503.4 | 1,274.7 | 947.1 |
| Other Non-Current Assets | 130.4 | 163.3 | 142.9 | 101.2 | 77.5 | 70.1 | 111.5 | 77.1 | 41.1 | 31.9 |
| Total Non-Current Assets | 3,536.2 | 3,440.0 | 3,285.2 | 2,512.2 | 2,267.7 | 2,177.9 | 1,911.4 | 1,619.3 | 1,338.6 | 990.9 |
| Total Assets | 3,958.0 | 3,780.3 | 3,609.3 | 2,732.9 | 2,523.7 | 2,346.3 | 2,011.6 | 1,711.2 | 1,452.3 | 1,073.3 |
| Current Liabilities | ||||||||||
| Account Payables | 4.8 | 3.8 | 2.8 | 1.2 | 0.4 | 0.6 | 1.1 | 1.0 | 1.0 | 0.6 |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 3,202.3 | 3,055.9 | 2,967.6 | 2,294.0 | 2,114.6 | 1,903.6 | 1,640.9 | 1,393.2 | 1,167.1 | 894.9 |
| Total Current Liabilities | 3,207.1 | 3,059.7 | 2,970.4 | 2,295.2 | 2,115.0 | 1,904.2 | 1,641.9 | 1,394.2 | 1,169.1 | 896.2 |
| Non-Current Liabilities | ||||||||||
| Long-Term Debt | 271.1 | 276.9 | 234.4 | 120.7 | 124.9 | 190.6 | 127.4 | 115.2 | 116.6 | 86.2 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.1 | 0 | 0 |
| Other Non-Current Liabilities | 36.4 | 34.6 | 33.6 | 27.5 | 17.2 | 13.3 | 15.8 | 6.9 | 3.4 | 2.1 |
| Total Non-Current Liabilities | 307.5 | 311.5 | 268.0 | 148.2 | 142.1 | 204.0 | 143.3 | 122.1 | 120.0 | 88.3 |
| Total Liabilities | 3,514.5 | 3,371.2 | 3,238.4 | 2,443.4 | 2,257.1 | 2,108.2 | 1,785.2 | 1,516.3 | 1,289.1 | 984.5 |
| Stockholders' Equity | ||||||||||
| Common Stock | 136.8 | 135.5 | 134.6 | 104.5 | 103.7 | 103.1 | 101.9 | 93.1 | 87.0 | 56.9 |
| Retained Earnings | 214.5 | 176.8 | 140.6 | 127.5 | 95.9 | 63.4 | 46.4 | 35.2 | 19.7 | 13.6 |
| Accumulated Other Comprehensive Income | (2.9) | (4.9) | (5.7) | (7.3) | (0.2) | 0.8 | 0.0 | (0.9) | (0.5) | (0.5) |
| Total Stockholders' Equity | 443.5 | 409.2 | 370.9 | 289.6 | 266.7 | 238.1 | 226.4 | 194.8 | 163.2 | 88.8 |
| Total Liabilities & Equity | 3,958.0 | 3,780.3 | 3,609.3 | 2,732.9 | 2,523.7 | 2,346.3 | 2,011.6 | 1,711.2 | 1,452.3 | 1,073.3 |
| Debt Metrics | ||||||||||
| Total Debt | 271.1 | 276.9 | 234.4 | 120.7 | 124.9 | 190.6 | 127.4 | 115.2 | 116.6 | 86.2 |
| Net Debt | (31.1) | 18.5 | 19.2 | 7.0 | (30.9) | 90.8 | 79.6 | 78.9 | 69.1 | 53.4 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||
| Net Income | 43.7 | 42.2 | 20.9 | 36.3 | 35.4 | 19.4 | 13.4 | 17.6 | 7.0 | 6.4 |
| Depreciation & Amortization | 0 | 4.3 | 2.8 | 1.6 | 1.6 | 1.9 | 1.7 | 1.4 | 0.7 | 0.6 |
| Stock-Based Compensation | 0 | 2.0 | 1.6 | 1.2 | 1.0 | 1.0 | 0.9 | 0.8 | 0.4 | 0.3 |
| Change in Working Capital | 15.1 | (12.0) | (7.3) | 0.9 | 3.7 | (1.8) | (2.0) | (0.1) | 1.5 | 0.2 |
| Other Non-Cash Items | 6.8 | (14.3) | 125.4 | (3.4) | (14.4) | 5.2 | 0.2 | 17.2 | 6.9 | 1.6 |
| Operating Cash Flow | 65.6 | 27.6 | 143.8 | 36.9 | 28.0 | 24.5 | 16.1 | 36.9 | 16.5 | 9.2 |
| Investing Activities | ||||||||||
| Capital Expenditure | (2.9) | (2.9) | (3.1) | (1.9) | (0.2) | (0.4) | (1.0) | (1.8) | (0.4) | (0.5) |
| Acquisitions | 0 | 0 | (16.2) | 0 | 86.5 | 0 | 30.8 | 8.0 | 11.8 | 0 |
| Purchases of Investments | 0 | (53.3) | (63.5) | (53.8) | (75.9) | (42.2) | (10.9) | (5.1) | (25.8) | (34.1) |
| Sales/Maturities of Investments | 0 | 46.8 | 132.3 | 20.4 | 36.5 | 37.4 | 23.6 | 37.8 | 10.5 | 29.4 |
| Other Investing Activities | (155.1) | (97.8) | (29.1) | (197.8) | (39.9) | (322.0) | (118.9) | (179.6) | (163.9) | (217.2) |
| Investing Cash Flow | (155.1) | (107.2) | 20.3 | (233.1) | 7.0 | (327.2) | (76.4) | (140.7) | (167.9) | (222.3) |
| Financing Activities | ||||||||||
| Net Debt Issuance | (5.9) | 42.9 | (52.6) | (4.3) | (79.3) | 63.1 | 12.1 | (1.5) | 10.3 | 40.5 |
| Stock Repurchased | (8.5) | (1.3) | (5.5) | (3.5) | (4.1) | (8.2) | (0.1) | 0 | 0 | 0 |
| Dividends Paid | (6.0) | (6.0) | (5.3) | (4.7) | (2.9) | (2.4) | (2.3) | (2.2) | (1.1) | 0 |
| Other Financing Activities | 146.2 | 88.0 | 1.3 | 180.2 | 110.3 | 263.8 | 76.9 | 118.7 | 117.8 | 156.2 |
| Financing Cash Flow | 126.9 | 123.5 | (62.1) | 167.6 | 24.0 | 316.4 | 86.7 | 115.8 | 164.4 | 210.1 |
| Cash Position | ||||||||||
| Net Change in Cash | 37.3 | 44.0 | 102.0 | (28.6) | 59.0 | 13.7 | 26.4 | 12.1 | 13.1 | (3.0) |
| Cash at Beginning | 271.9 | 228.0 | 125.9 | 154.5 | 95.5 | 81.8 | 55.4 | 43.4 | 30.3 | 33.3 |
| Cash at End | 309.2 | 271.9 | 228.0 | 125.9 | 154.5 | 95.5 | 81.8 | 55.4 | 43.4 | 30.3 |
| Free Cash Flow | 62.7 | 24.7 | 140.7 | 35.0 | 27.9 | 24.1 | 15.0 | 35.1 | 16.1 | 8.7 |
| Key Metrics | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||||||||
| Revenue | 246.8 | 229.4 | 173.3 | 112.4 | 98.9 | 95.6 | 88.2 | 76.2 | 53.3 | 40.0 | 32.4 | 21.3 | 12.2 | 10.0 |
| Gross Profit | 136.3 | 128.7 | 95.9 | 94.6 | 89.9 | 66.4 | 58.4 | 54.9 | 39.1 | 27.8 | 22.8 | 17.1 | 8.8 | 6.7 |
| Operating Income | 57.3 | 55.1 | 27.2 | 47.9 | 46.7 | 26.0 | 19.0 | 21.6 | 14.4 | 9.5 | 5.1 | 8.0 | 3.5 | 3.1 |
| Net Income | 43.7 | 42.2 | 20.9 | 36.3 | 35.4 | 19.4 | 13.4 | 17.6 | 7.0 | 6.4 | 3.9 | 5.8 | 1.7 | 2.6 |
| EPS (Diluted) | 1.74 | 1.67 | 0.95 | 1.84 | 1.79 | 0.97 | 0.69 | 0.95 | 0.48 | 0.61 | 0.41 | 0.63 | 0.33 | 0.63 |
| Balance Sheet | ||||||||||||||
| Cash & Equivalents | 302.2 | 258.4 | 215.2 | 113.6 | 155.8 | 99.8 | 47.9 | 36.4 | 47.5 | 32.7 | ||||
| Total Assets | 3,958.0 | 3,780.3 | 3,609.3 | 2,732.9 | 2,523.7 | 2,346.3 | 2,011.6 | 1,711.2 | 1,452.3 | 1,073.3 | ||||
| Total Debt | 271.1 | 276.9 | 234.4 | 120.7 | 124.9 | 190.6 | 127.4 | 115.2 | 116.6 | 86.2 | ||||
| Stockholders' Equity | 443.5 | 409.2 | 370.9 | 289.6 | 266.7 | 238.1 | 226.4 | 194.8 | 163.2 | 88.8 | ||||
| Cash Flow | ||||||||||||||
| Operating Cash Flow | 65.6 | 27.6 | 143.8 | 36.9 | 28.0 | 24.5 | 16.1 | 36.9 | 16.5 | 9.2 | ||||
| Capital Expenditure | (2.9) | (2.9) | (3.1) | (1.9) | (0.2) | (0.4) | (1.0) | (1.8) | (0.4) | (0.5) | ||||
| Free Cash Flow | 62.7 | 24.7 | 140.7 | 35.0 | 27.9 | 24.1 | 15.0 | 35.1 | 16.1 | 8.7 | ||||