Question 1

What is First Financial's P/B ratio?

Accepted Answer

First Financial (THFF) P/B ratio is 1.3× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by book value of equity, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/B ratio calculated?

Accepted Answer

P/B = Market Capitalisation ÷ Book Value of Equity (most recent quarterly shareholders' equity), or equivalently Share Price ÷ Book Value Per Share. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/B ratio?

Accepted Answer

The price-to-book (P/B) ratio compares a company's market capitalisation to its book value of equity (total shareholders' equity) on the most recent quarterly balance sheet. It is calculated as market cap ÷ book value of equity (equivalent to share price ÷ book value per share). A P/B below 1× implies the market values the business below its accounting net worth; values well above 1× reflect intangible assets, brand value, or a high return on equity.

Question 4

What is a good P/B ratio for First Financial?

Accepted Answer

A "good" P/B depends on the business model. Banks, insurers, and other capital-heavy financials typically trade near 1×; asset-light technology and consumer-brand companies can sustainably trade at 5×+ because much of their value is intangible. P/B is most informative when paired with return on equity (ROE). For First Financial specifically, the relevant sector benchmark is the current sector median of 1.7×.

Question 5

Is First Financial's P/B ratio high or low?

Accepted Answer

First Financial's P/B ratio of 1.3× is above its own 5-year average of 1.0× and below the sector median of 1.7×. That places the current reading at the 98th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is First Financial's historical P/B ratio range?

Accepted Answer

In the available daily series, First Financial (THFF) P/B ratio has ranged from a low of 0.7× in 2020 to a high of 2.2× in 2008. The 5-year average is 1.0× and the 5-year median is 1.0×.

Question 7

What was First Financial's P/B ratio in 2025?

Accepted Answer

First Financial (THFF) P/B ratio at the end of 2025 was 1.1×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month book value figure available at that date.

Question 8

Why does First Financial's P/B ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (book value). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$716.16M	$650.87M	1.1×	+0.1×	Dec 31, 2025
2024	$545.50M	$549.04M	1.0×	+0.0×	Dec 31, 2024
2023	$513.65M	$527.98M	1.0×	-0.2×	Dec 31, 2023
2022	$559.18M	$475.29M	1.2×	+0.2×	Dec 31, 2022
2021	$579.71M	$582.58M	1.0×	+0.1×	Dec 31, 2021
2020	$532.05M	$596.99M	0.9×	-0.2×	Dec 31, 2020
2019	$628.10M	$557.61M	1.1×	+0.0×	Dec 31, 2019
2018	$492.44M	$442.70M	1.1×	-0.2×	Dec 31, 2018
2017	$554.81M	$413.57M	1.3×	-0.2×	Dec 31, 2017
2016	$644.16M	$414.39M	1.6×	+0.5×	Dec 31, 2016
2015	$429.58M	$410.32M	1.0×	-0.1×	Dec 31, 2015
2014	$460.53M	$394.21M	1.2×	-0.1×	Dec 31, 2014
2013	$487.16M	$386.19M	1.3×	+0.2×	Dec 31, 2013
2012	$401.01M	$372.12M	1.1×	-0.2×	Dec 31, 2012
2011	$439.16M	$346.96M	1.3×	-0.2×	Dec 31, 2011
2010	$461.77M	$321.72M	1.4×	+0.1×	Dec 31, 2010
2009	$400.42M	$306.48M	1.3×	-0.6×	Dec 31, 2009
2008	$537.62M	$286.84M	1.9×	+0.6×	Dec 31, 2008
2007	$371.91M	$281.69M	1.3×	-0.4×	Dec 31, 2007
2006	$469.71M	$271.26M	1.7×	+0.4×	Dec 31, 2006
2005	$360.48M	$269.32M	1.3×	-0.4×	Dec 31, 2005
2004	$463.13M	$268.33M	1.7×	+0.1×	Dec 31, 2004
2003	$406.71M	$255.28M	1.6×	+0.2×	Dec 31, 2003
2002	$330.46M	$241.97M	1.4×	+0.0×	Dec 31, 2002
2001	$294.43M	$217.51M	1.4×	—	Dec 31, 2001


UMB Financial (UMBF)	1.1×
RenaissanceRe Holdings (RNR)	1.1×
KeyCorp (KEY)	1.1×
Southside Bancshares (SBSI)	1.1×
Prudential Financial (PRU)	1.1×
United Bankshares (UBSI)	1.1×
Alerus Financial (ALRS)	1.0×
Capital One Financial (COF)	1.0×
Franklin Resources (BEN)	1.0×
Atlantic Union Bankshares (AUB)	1.0×
American International Group (AIG)	1.0×
Eagle Financial Services (EFSI)	1.0×
Everest Re Group (RE)	1.0×
Citizens Financial Group (CFG)	1.0×
Citigroup (C)	0.9×
Ares Capital (ARCC)	0.9×
Huntington Bancshares (HBAN)	0.9×
Auburn National Bancorporation (AUBN)	0.9×
Invesco (IVZ)	0.9×
Truist Financial (TFC)	0.9×
Everest Re Group (EG)	0.9×
PSB Holdings (PSBQ)	0.8×
Ally Financial (ALLY)	0.8×
Global Payments (GPN)	0.7×
Assured Guaranty (AGO)	0.7×

P/B Ratio for First Financial (THFF)

P/B Ratio daily chart for First Financial (THFF)

Historical P/B Ratio for First Financial (THFF) from 2001 to 2025

About P/B Ratio at First Financial (THFF)

First Financial P/B Ratio by Year

First Financial P/B Ratio 2025: 1.1×

First Financial P/B Ratio 2024: 1.0×

First Financial P/B Ratio 2023: 1.0×

First Financial P/B Ratio 2022: 1.2×

First Financial P/B Ratio 2021: 1.0×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

First Financial (THFF) Key Financials

P/B Ratio daily chart for First Financial (THFF)

Historical P/B Ratio for First Financial (THFF) from 2001 to 2025

About P/B Ratio at First Financial (THFF)

First Financial P/B Ratio by Year

First Financial P/B Ratio 2025: 1.1×

First Financial P/B Ratio 2024: 1.0×

First Financial P/B Ratio 2023: 1.0×

First Financial P/B Ratio 2022: 1.2×

First Financial P/B Ratio 2021: 1.0×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

+What is First Financial's P/B ratio?

+How is the P/B ratio calculated?

+What is the P/B ratio?

+What is a good P/B ratio for First Financial?

+Is First Financial's P/B ratio high or low?

+What is First Financial's historical P/B ratio range?

+What was First Financial's P/B ratio in 2025?

+Why does First Financial's P/B ratio change over time?

First Financial (THFF) Key Financials