FHB
First Hawaiian, Inc.
FHB's fundamentals are mixed: revenue grew 7.7%, but its operating margin fell 3 points to 36%. At 11x earnings, it's trading below its usual 13x. Analysts expect earnings growth, though they disagree widely on how much.
FHB Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| N/A | |
| N/A |
FHB's profitability is currently strong, and its revenue is stable. Free cash flow and net leverage aren't meaningful measures for financial services companies like FHB.
FHB PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 10x | $22.79 | -7.6% |
| Forward | 10x | $24.67 | — |
| Current | 11x | $24.67 | — |
| Fair | 13x | $28.33 | +15% |
| Expensive | 14x | $31.75 | +29% |
Historical ranges are pointers, not guarantees.
FHB's PE is in its cheap range at 11x. If earnings grow as analysts expect, today's price would be 10x next year's earnings.
FHB Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Strong growth | |
| Strongly weakening | |
| Limited | |
| Low |
Analysts expect earnings and revenue growth for FHB, but weaker profitability. However, they disagree widely on these estimates.
FHB Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.42 | +8.7% |
| Q3 2026 | $2.23 | +8.8% |
| Q2 2026 | $2.30 | +19% |
| Q1 2026 | $2.28 | +24% |
| Q4 2025 | $2.20 | +23% |
| Q3 2025 | $2.05 | +17% |
| Q2 2025 | $1.94 | +12% |
| Q1 2025 | $1.84 | +5.7% |
| Q4 2024 | $1.79 | -2.7% |
FHB earned $2.23 per share over the past year, up 8.8% from the year before.
FHB Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $230.2M | +1.7% |
| Q2 2026 | $231.3M | +6.3% |
| Q1 2026 | $220.3M | +4.4% |
| Q4 2025 | $225.9M | +20% |
| Q3 2025 | $226.4M | +7.8% |
| Q2 2025 | $217.5M | +6.3% |
| Q1 2025 | $211M | +2.5% |
| Q4 2024 | $188.1M | -10% |
FHB's revenue has grown year over year for seven quarters in a row: $230M last quarter, up 1.7% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 22% | -21 points |
| Q2 2026 | 41% | +0.7 points |
| Q1 2026 | 40% | +3.2 points |
| Q4 2025 | 41% | +6.8 points |
| Q3 2025 | 42% | +6.1 points |
| Q2 2025 | 41% | +1 points |
| Q1 2025 | 36% | +2.1 points |
| Q4 2024 | 34% | +4.7 points |
FHB's operating margin was 22% last quarter, down 21 points from the same quarter a year ago, near the bottom of its range since 2019.
FHB Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $101.8M | +106% |
| Q2 2026 | $7.7M | -94% |
| Q1 2026 | $155.4M | +443% |
| Q4 2025 | $100M | -2.4% |
| Q3 2025 | $49.5M | -5.3% |
| Q2 2025 | $125.2M | +73% |
| Q1 2025 | $28.6M | -54% |
| Q4 2024 | $102.5M | +206% |
FHB's free cash flow was $365M over the past year, up 19% from the year before. Free cash flow isn't a meaningful measure for financial services companies like FHB.
FHB Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.1% | +139K shares |
| 1 year | -2% | -2.5M shares |
| 3 years | -4.3% | -5.5M shares |
| 5 years | -5.2% | -6.7M shares |
| Available history | -8.2% | -10.9M shares |
FHB has 122M diluted shares, down 2% from a year ago, with $58M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | $32M |
| Q4 2025 | $26M |
| Q3 2025 | $24M |
| Q2 2025 | $25M |
| Q1 2025 | $25M |
| Q4 2022 | — |
FHB spent $58M buying back its own shares over the past year.
FHB Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.7x | Net Cash |
| Q2 2026 | -0.7x | Net Cash |
| Q1 2026 | -0.6x | Net Cash |
| Q4 2025 | -0.6x | Net Cash |
| Q3 2025 | -0.7x | Net Cash |
| Q2 2025 | -0.2x | Net Cash |
| Q1 2025 | 0.0x | Very low |
| Q4 2024 | -0.0x | Net Cash |
FHB has more cash than debt. Net leverage isn't a meaningful measure for financial services companies like FHB.
FHB Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 37.9 | Neutral |
| Stochastic | 20.0 | Neutral |
FHB's weekly RSI is 38 (neutral) and its Stochastic is 20 (neutral).
FHB PE vs Financial Services Sector
| Metric | FHB | Sector median | Relative |
|---|---|---|---|
| PE | 11x | 13x | 15% below |
| PE % | 23 | 63 | 40 pts below |
FHB is trading at 11x earnings, a 15% discount to the Financial Services sector's median of 13x.
FHB Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $25.0 | 1.5% below |
| 20 week MA | $26.5 | 7% below |
| 50 week MA | $26.4 | 6.7% below |
| 100 week MA | $25.6 | 3.7% below |
| 200 week MA | $23.6 | 4.5% above |
FHB has fallen below most of its moving averages, though it's still 4.5% above its 200-week average.
FHB Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $28.9 | $23.2 | -20% |
| 2021 | $23.2 | $26.9 | +16% |
| 2022 | $26.9 | $25.5 | -5.1% |
| 2023 | $25.5 | $22.9 | -10% |
| 2024 | $22.9 | $26.0 | +14% |
| 2025 | $26.0 | $26.1 | +0.4% |
| 2026 YTD | $26.1 | $24.7 | -5.3% |
FHB has finished lower in three of the last six years. It's down 5.3% so far in 2026.