Primis Financial (FRST) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Primis Financial

NasdaqGM•Financial Services•Banks - Regional

$16.14-0.01(<0.01%)After hours

Market Cap

$399.42M

P/E

7.5x

P/S

1.3x

P/B

0.9x

Primis Financial Corp. operates as the bank holding company for Primis Bank that provides various financial services to individuals, and small and medium sized businesses in the United States. The company offers deposit products, including checking, NOW, savings, and money market accounts, as well as certificates of deposits; and commercial deposit products comprising investment/sweep accounts, wire transfer services, employer services/payroll processing services, zero balance accounts, night depository services, depository transfers, merchant services, ACH originations, business debit cards, controlled disbursement accounts, and remote deposit capture services. It also provides commercial lending products, such as loans consist of lines of credit, revolving credit facilities, demand loans, term loans, equipment loans, SBA loans, stand-by letters of credit, and unsecured loans; loans for permanent financing; construction loans for commercial, multi-family, assisted living and other non-residential properties, and builder/developer lines; second asset based lending; SBA lending; financing for medical, dental, and veterinary businesses; and warehouse lending lines of credit to residential mortgage originators. In addition, the company provides consumer lending products comprising residential mortgage, home equity lines of credit, secured and unsecured personal loans, life insurance premium financing, and Panacea consumer loans. Further, it offers debit cards, ATM services, notary services, and mobile and online banking. The company was formerly known as Southern National Bancorp of Virginia, Inc. and changed its name to Primis Financial Corp. Primis Financial Corp. was founded in 2004 and is headquartered in McLean, Virginia.

How this company scores

WeakMetricSide Score: 68/100

Grade capped at D — Interest coverage below 1× (0.5x) — earnings cannot cover interest. Strongest: Profitability (23/25); weakest: Cash & Earnings Quality (5/25).

Profitability23/25

Growth22/25

Balance Sheet & Red Flags18/25

Cash & Earnings Quality5/25

Strengths

Strong marginsRising earningsLow leverageProfit converts from growth

Grade capped at D

Interest coverage below 1× (0.5x) — earnings cannot cover interest.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 7.5x5y range 5.3x – 90.4x

Currently below its 15-quarter median.

P/S · 1.3x5y range 0.9x – 2.4x

Currently near its 20-quarter median.

P/B · 0.9x5y range 0.6x – 0.9x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 5 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $399.42M

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $312.51M
Q. Revenue: $78.36M
TTM EBITDA: $82.99M
TTM Op. Income: $67.46M
Q. Op. Income: $12.13M
TTM Net Income: $53.11M
Q. Net Income: $9.43M
EPS: $0.38
Shares Out.: $24.73M

$312.51M in TTM revenue grew 13.2% YoY, reaching $78.36M last quarter. TTM EBITDA of $82.99M and TTM operating income of $67.46M show growth is flowing through to the bottom line. TTM net income of $53.11M means revenue is converting into profit. Over the past year, TTM revenue is up 13% — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 71.2%
EBITDA Margin: 19.6%
Op. Margin: 15.5%
Net Margin: 12.0%

Op. margin of 15.5% is up 11.0% YoY — cost efficiency is improving. Net margin at 12.0% and gross margin of 71.2% show how much of each revenue dollar survives to profit. Over the past year, operating margin is up 243% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 7.5x
P/S Ratio: 1.3x
P/B Ratio: 0.9x

At 7.5x P/E, the stock trades below typical market levels. P/S of 1.3x and P/B of 0.9x provide additional context. P/E sits below typical market levels while revenue is growing. Across the last 6 quarters, P/E has risen for 2 consecutive quarters — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $4.35B
Cash: $176.82M
Long-Term Debt: $59.40M
Book Value: $433.83M
D/E Ratio: 0.1
Debt/EBITDA: 3.9

With $4.35B in assets and $59.40M in long-term debt, D/E is 0.1and book value is $433.83M — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has fallen for 6 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $-5.70M
TTM Free Cash Flow: $-44.95M
FCF Margin: -14.4%
FCF / Net Income: -0.8

TTM FCF of $-44.95M on $-5.70M in operating cash flow. The FCF / Net Income ratio of -0.8x means the business consumes cash — it is not yet self-funding. Over the past year, free cash flow is down 19% — an improving trend.