First Hawaiian IncFirst Hawaiian Inc
First Hawaiian Inc

First Hawaiian Inc

FHB
Financials·Banks

First Hawaiian, Inc. is a bank holding company engaged in the provision of banking services to consumer and commercial customers, including deposit products, lending services, and wealth management and trust services through its subsidiary, First Hawaiian Bank. It operates through the following business segments: Retail Banking, Commercial Banking, and Treasury and Other. The Retail Banking segment offers residential and commercial mortgage loans, home equity lines of credit, automobile loans and leases, personal lines of credit, installment loans, and small business loans and leases, deposits, such as checking, savings and time deposit accounts to consumers, small businesses and certain commercial customers. The Commercial Banking segment provides corporate banking, residential and commercial real estate loans, commercial lease financing, auto dealer financing, deposit products and credit cards that they provide primarily to middle market and large companies in Hawaii, Guam, Saipan, and California. The Treasury and Other segment relates to the treasury business, which consists of corporate asset and liability management activities, including interest rate risk management, as well as organizational units such as technology, operations, credit and risk management, human resources, finance, administration, marketing, and corporate and regulatory administration. The company was founded in 1858 and is headquartered in Honolulu, HI.

Hawaii; U.S.A
Market cap
No dataNo data
Revenue
$880.8M+8.9% YoY
Net income
$276.3M+20.0% YoY
Free cash flow
$303.3M+5.0% YoY

Market

Listed stock
FHBPriceNasdaq
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Financial performance

Revenue
$880.8M+8.9% YoY
Operating income
$551.4M+32.2% YoY
Net income
$276.3M+20.0% YoY
Free cash flow
$303.3M+5.0% YoY

Revenue, profit & cash trend

Revenue
Operating income
Net income
Free cash flow
Reference
Revenue: 2021 $715.5M, 2022 $793.1M, 2023 $836.9M, 2024 $808.5M, 2025 $880.8M. Operating income: 2021 $351.1M, 2022 $702.6M, 2023 $518.1M, 2024 $417.1M, 2025 $551.4M. Net income: 2021 $265.7M, 2022 $265.7M, 2023 $235M, 2024 $230.1M, 2025 $276.3M. Free cash flow: 2021 $396.7M, 2022 $417.3M, 2023 $239M, 2024 $288.7M, 2025 $303.3M. Reference line: Reference at $0.

Growth & profitability

Revenue growth
8.9%+1233 bps YoY
Gross margin
No dataNo data
Operating margin
No dataNo data
FCF margin
No dataNo data

Earnings power over time

Operating income
Net income
Free cash flow
Operating income: 2021-12-31 $351.1M, 2022-12-31 $702.6M, 2023-12-31 $518.1M, 2024-12-31 $417.1M, 2025-12-31 $551.4M. Net income: 2021-12-31 $265.7M, 2022-12-31 $265.7M, 2023-12-31 $235M, 2024-12-31 $230.1M, 2025-12-31 $276.3M. Free cash flow: 2021-12-31 $396.7M, 2022-12-31 $417.3M, 2023-12-31 $239M, 2024-12-31 $288.7M, 2025-12-31 $303.3M

Growth heatmap

2022202320242025CAGR
Revenue
+10.8%
+5.5%
-3.4%
+8.9%
+5.3%
Gross profit
+92.5%
+5.7%
-3.4%
+8.9%
+21.0%
Operating income
+100.1%
-26.3%
-19.5%
+32.2%
+11.9%
Free cash flow
+5.2%
-42.7%
+20.8%
+5.0%
-6.5%

Earnings quality

Operating cash flow
$335.1M+5.5% YoY
Net income
$276.3M+20.0% YoY
Free cash flow
$303.3M+5.0% YoY
Diluted EPS
No dataNo data

Cash conversion quality

Operating cash flow
Free cash flow
Net income = 100%
Operating cash flow: 2025-12-31 121%, 2024-12-31 138%, 2023-12-31 109%, 2022-12-31 162%, 2021-12-31 157%. Free cash flow: 2025-12-31 110%, 2024-12-31 125%, 2023-12-31 102%, 2022-12-31 157%, 2021-12-31 149%. Reference line: Net income = 100% at 100%.

Per-share economics

Diluted EPS
Latest
No data
FCF / share
Latest
No data
Diluted shares
Latest
No data

Financial flexibility

Cash & equivalents
No dataNo data
Total debt
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Net debt
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Current ratio
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Cash Coverage of Debt

Cash / Total debt
No data

Returns

Return on equity
No dataNo data
Return on assets
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Return on invested capital
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Asset turnover
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Return on capital

No data

Valuation

Price to earnings
No dataNo data
Price to sales
No dataNo data
EV / EBITDA
No dataNo data
Free cash flow yield
No dataNo data

Valuation vs its own 5Y history

Metric
Own five-year range
Current
Own 5Y median
Position in own range
Price to earnings
No data
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Price to sales
No data
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EV / EBITDA
No data
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Free cash flow yield
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