First Financial (THFF) Stock Fundamentals, Analysis & Risk Signals

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

First Financial

NasdaqGS•Financial Services•Banks - Regional

$77.84+0.04(<0.01%)Pre-market

Market Cap

$928.77M

P/E

11.0x

P/S

2.6x

P/B

1.4x

First Financial Corporation operates as the bank holding company for First Financial Bank N.A. that provides various financial services for individuals and businesses in west-central Indiana, east-central Illinois, western Kentucky, central and eastern Tennessee, and northern Georgia in the United States. The company offers non-interest-bearing demand, interest-bearing demand, savings, time, and other time deposits; checking and savings accounts; personal and business certificates of deposit; and digital banking services. It also provides commercial loans primarily to expand a business or finance asset purchases; real estate mortgages, including residential real estate and residential real estate construction loans; home equity loans and lines, secured loans, cash/CD secured loans, and unsecured loans; mortgage refinance; personal and auto loans; and credit cards. In addition, the company offers lease financing, trust account, and depositor services; business services, including accounts receivable and payable, merchant services, fraud protection, money management, and workplace rewards; and wealth services. The company was formerly known as Terre Haute First Corporation and changed its name to First Financial Corporation in December 1984. First Financial Corporation was founded in 1834 and is headquartered in Terre Haute, Indiana.

How this company scores

GoodMetricSide Score: 78/100

Strongest: Cash & Earnings Quality (25/25); weakest: Balance Sheet & Red Flags (10/25).

Profitability23/25

Growth20/25

Balance Sheet & Red Flags10/25

Cash & Earnings Quality25/25

Strengths

Rising free cash flowStrong marginsRising earningsLow leverage

Valuation vs. 5-year range

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

P/E · 11.0x5y range 6.0x – 11.9x

Currently near its 20-quarter median.

P/S · 2.6x5y range 1.5x – 3.0x

Currently above its 20-quarter median.

P/B · 1.4x5y range 0.8x – 1.4x

Watch items

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

Some Concerns

Leverage Risk

Watch

Debt-to-equity has risen 106.6% recently — increasing financial risk even if the current ratio is manageable.

Price & Volume

Market Cap $928.77M

Metrics at a Glance

as of June 2026

Revenue & Profit

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

TTM Revenue: $363.49M
Q. Revenue: $94.86M
TTM EBITDA: $122.52M
TTM Op. Income: $104.87M
Q. Op. Income: $28.04M
TTM Net Income: $84.76M
Q. Net Income: $22.74M
EPS: $1.91
Shares Out.: $11.89M

$363.49M in TTM revenue grew 8.1% YoY, reaching $94.86M last quarter. TTM EBITDA of $122.52M and TTM operating income of $104.87M show growth is flowing through to the bottom line. TTM net income of $84.76M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 75.8%
EBITDA Margin: 32.9%
Op. Margin: 29.6%
Net Margin: 24.0%

Op. margin of 29.6% is up 2.6% YoY — cost efficiency is improving. Net margin at 24.0% and gross margin of 75.8% show how much of each revenue dollar survives to profit. Over the past year, operating margin is up 9% — an improving trend.

Price Ratios

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

P/E Ratio: 11.0x
P/S Ratio: 2.6x
P/B Ratio: 1.4x

At 11.0x P/E, the stock trades below typical market levels. P/S of 2.6x and P/B of 1.4x provide additional context. P/E sits below typical market levels while revenue is growing. Across the last 8 quarters, P/E has risen for 2 consecutive quarters — a weakening trend.

Assets & Liabilities

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

Total Assets: $6.18B
Cash: $96.63M
Long-Term Debt: $291.46M
Book Value: $675.78M
D/E Ratio: 0.4
Debt/EBITDA: 9.3

With $6.18B in assets and $291.46M in long-term debt, D/E is 0.4and book value is $675.78M — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has risen for 4 consecutive quarters — a weakening trend.

Cash Flow

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

Op. Cash Flow: $18.07M
TTM Free Cash Flow: $93.04M
FCF Margin: 25.6%
FCF / Net Income: 1.1

TTM FCF of $93.04M on $18.07M in operating cash flow. The FCF / Net Income ratio of 1.1x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has risen for 6 consecutive quarters — an improving trend.