First BanCorp (FRA:OLWN) Shiller PE Ratio: 19.66 (As of Aug. 31, 2026) — 11% Above Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

FRA:OLWN First BanCorp FRA:OLWN
80 GF Score
Price €23.40
GF Value €19.04
! 6 Warning Signs
View Full Analysis

What is First BanCorp Shiller PE Ratio?

First BanCorp FRA:OLWN +0.86% 80 Shiller PE Ratio is 19.66 as of Aug. 31, 2026, which is 11% above its 10-year median of 17.65. GuruFocus rates FRA:OLWN with a GF Score™ of 80/100 and a GF Value™ of €19.04. The stock has 6 warning signs investors should review. Among 1,240 Banks companies, First BanCorp ranks worse than 77.74% on this metric.

As of today (2026-08-31), First BanCorp's current share price is €23.40. First BanCorp's E10 for the quarter that ended in Jun. 2026 was €1.19. First BanCorp's Shiller PE Ratio for today is 19.66.

The historical rank and industry rank for First BanCorp's Shiller PE Ratio or its related term are showing as below:

FRA:OLWN' s Shiller PE Ratio Range Over the Past 10 Years
Min: 3.63   Med: 17.65   Max: 111.09
Current: 19.81

During the past years, First BanCorp's highest Shiller PE Ratio was 111.09. The lowest was 3.63. And the median was 17.65.

FRA:OLWN's Shiller PE Ratio is ranked worse than
77.74% of 1240 companies
in the Banks industry
Industry Median: 13.765 vs FRA:OLWN: 19.81

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years.

First BanCorp's adjusted earnings per share data for the three months ended in Jun. 2026 was €0.538. Add all the adjusted EPS for the past 10 years together and divide 10 will get our E10, which is €1.19 for the trailing ten years ended in Jun. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


First BanCorp  (FRA:OLWN) Shiller PE Ratio Explanation

Compared with the regular PE Ratio, which works poorly for cyclical businesses, the Shiller PE Ratio smoothed out the fluctuations of profit margins during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Shiller PE Ratio should give similar results to regular PE Ratio.

Compared with the PS Ratio, the Shiller PE Ratio makes the comparison between different industries more meaningful.


Be Aware

Shiller PE Ratio assumes that over the long term, businesses and profitability revert to their means. If a company's business model does not work in the future compared with the past, Shiller PE Ratio and PS Ratio will give false valuations.


First BanCorp Shiller PE Ratio Related Terms


First BanCorp Shiller PE Ratio Historical Data

* Premium members only.

The historical data trend for First BanCorp's Shiller PE Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

First BanCorp Shiller PE Ratio Chart

First BanCorp Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Shiller PE Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 22.71 16.16 15.10 17.65 16.14

First BanCorp Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Shiller PE Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 17.67 17.77 16.14 15.82 18.44

FRA:OLWN vs TCBI, UCB, IBOC: Shiller PE Ratio Comparison

For the Banks - Regional subindustry, First BanCorp's Shiller PE Ratio, along with its competitors' market caps and Shiller PE Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


First BanCorp Shiller PE Ratio vs Banks Industry

For the Banks industry and Financial Services sector, First BanCorp's Shiller PE Ratio distribution charts can be found below:

* The bar in red indicates where First BanCorp's Shiller PE Ratio falls into.


FRA:OLWN
80GF Score
First BanCorp FRA:OLWN
Shiller PE Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

First BanCorp Shiller PE Ratio Calculation

For Shiller PE Ratio, the earnings of the past 10 years are inflation-adjusted and averaged. The result is used for P/E calculation. Since it looks at the average over the last 10 years, the Shiller PE Ratio is also called PE10.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The same calculation is applied here to individual companies.

First BanCorp's Shiller PE Ratio for today is calculated as

Shiller PE Ratio=Share Price/ E10
=23.40/1.19
=19.66

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

First BanCorp's E10 for the quarter that ended in Jun. 2026 is calculated as:

For example, First BanCorp's adjusted earnings per share data for the three months ended in Jun. 2026 was:

Adj_EPS=Earnings per Share (Diluted)/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=0.538/333.9520*333.9520
=0.538

Current CPI (Jun. 2026) = 333.9520.

First BanCorp Quarterly Data

Earnings per Share (Diluted) CPI Adj_EPS
201609 0.098 241.428 0.136
201612 0.104 241.432 0.144
201703 0.103 243.801 0.141
201706 0.116 244.955 0.158
201709 -0.042 246.819 -0.057
201712 0.093 246.524 0.126
201803 0.122 249.554 0.163
201806 0.120 251.989 0.159
201809 0.137 252.439 0.181
201812 0.404 251.233 0.537
201903 0.177 254.202 0.233
201906 0.168 256.143 0.219
201909 0.191 256.759 0.248
201912 0.144 256.974 0.187
202003 0.009 258.115 0.012
202006 0.080 257.797 0.104
202009 0.110 260.280 0.141
202012 0.189 260.474 0.242
202103 0.235 264.877 0.296
202106 0.274 271.696 0.337
202109 0.306 274.310 0.373
202112 0.310 278.802 0.371
202203 0.372 287.504 0.432
202206 0.359 296.311 0.405
202209 0.404 296.808 0.455
202212 0.378 296.797 0.425
202303 0.364 301.836 0.403
202306 0.360 305.109 0.394
202309 0.431 307.789 0.468
202312 0.422 306.746 0.459
202403 0.405 312.332 0.433
202406 0.427 314.175 0.454
202409 0.405 315.301 0.429
202412 0.439 315.605 0.465
202503 0.435 319.799 0.454
202506 0.433 322.561 0.448
202509 0.537 324.800 0.552
202512 0.478 324.054 0.493
202603 0.493 330.213 0.499
202606 0.538 333.952 0.538

Add all the adjusted EPS together and divide 10 will get our E10.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

Frequently Asked Questions Learn more about Shiller PE Ratio →
What does a Shiller PE Ratio of 19.66 mean?
First BanCorp (FRA:OLWN) has a Shiller PE Ratio of 19.66 as of Aug. 31, 2026. Shiller price-earnings ratio is the ratio of share price to a company's inflation-adjusted earnings over a 10-year period. View historical data on First BanCorp and its competitors. This is 11% above median its historical median of 17.65. Over the past decade, First BanCorp's Shiller PE Ratio has ranged from 3.63 to 111.09. According to the industry distribution chart, First BanCorp ranks #964 out of 1240 companies in the Banks industry, placing it in the top 77.7%.
Is First BanCorp's Shiller PE Ratio too high?
First BanCorp's current Shiller PE Ratio of 19.66 is 11% above median its 10-year median of 17.65. Over the past 10 years, this metric has ranged from a low of 3.63 to a high of 111.09. The Banks industry median Shiller PE Ratio is 13.77. First BanCorp's value of 19.66 is 42.8% above this industry median. Based on the distribution chart, First BanCorp ranks #964 out of 1240 companies in the Banks industry, which is in the bottom quartile relative to peers. Overall, First BanCorp has a GF Score™ of 80/100, reflecting its overall financial health beyond just this single metric.
How does First BanCorp's Shiller PE Ratio compare to TCBI and UCB?
According to the Banks industry distribution chart, First BanCorp ranks #964 out of 1240 companies for Shiller PE Ratio. This places First BanCorp in the lower half of its industry. The industry median Shiller PE Ratio is 13.77. First BanCorp's value of 19.66 is 42.8% above this benchmark. Historically, First BanCorp's own Shiller PE Ratio has ranged from 3.63 to 111.09 over the past decade. While the company's 10-year median is 17.65 vs. the industry median of 13.77, First BanCorp has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Shiller PE Ratio for a Banks company?
The median Shiller PE Ratio among Banks companies is 13.77, based on 1,240 companies in the industry. Companies in the top quartile (top 25%) have a Shiller PE Ratio significantly above this median, while those in the bottom quartile fall well below. However, Shiller PE Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. First BanCorp's current Shiller PE Ratio of 19.66 is 42.8% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Shiller PE Ratio mean?
A high Shiller PE Ratio can signal that a stock is expensive relative to its fundamentals. Shiller price-earnings ratio is the ratio of share price to a company's inflation-adjusted earnings over a 10-year period. View historical data on First BanCorp and its competitors. For the Banks industry, the median Shiller PE Ratio is 13.77 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. First BanCorp's current Shiller PE Ratio is 19.66, which is 11% above median its own 10-year median of 17.65. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is First BanCorp stock overvalued right now?
First BanCorp (FRA:OLWN) has a current Shiller PE Ratio of 19.66. The stock's GF Value™ is €19.04, compared to a current price of €23.40 — trading 22.9% above its estimated fair value. The current Shiller PE Ratio is 19.66, which is 11% above median its 10-year median of 17.65 and 42.8% above the Banks industry median of 13.77. First BanCorp's overall GF Score™ is 80/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Shiller PE Ratio calculated?
Shiller PE Ratio is calculated from a company's financial statements. For First BanCorp (FRA:OLWN), the current Shiller PE Ratio is 19.66 as of Aug. 31, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is First BanCorp (FRA:OLWN) Overvalued in 2026?

Based on GuruFocus' analysis, First BanCorp stock appears to be overvalued. The current stock price of €23.40 is trading 22.9% above its estimated GF Value™ of €19.04.

Key valuation signals for FRA:OLWN:

  • Shiller PE Ratio: 19.66 (11% above median its 10-year median of 17.65)
  • GF Value™: €19.04 vs. price of €23.40 (22.9% above fair value)
  • GF Score™: 80/100 with 6 warning signs
  • Industry Position: 42.8% above the Banks median (#964 of 1240)

No single metric tells the full story. See the FRA:OLWN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


First BanCorp Business Description

Other Exchanges FBP:USAOLWN:Germany
Address 1519 Ponce de Leon Avenue, Stop 23, San Juan, PRI, 00908-0146
First BanCorp is a financial holding company. The company's operating segment includes Mortgage Banking; Consumer (Retail) Banking; Commercial and Corporate Banking; Treasury and Investments; United States Operations; and Virgin Islands Operations. The Consumer (Retail) Banking segment generates the majority of revenue, which consists of the Corporation's consumer lending and deposit-taking activities conducted mainly through its branch network and loan centres. Geographically, it derives a majority of revenue from Puerto Rico.
80GF Score

Get the complete analysis for FRA:OLWN

Shiller PE Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€23.40
Price
€19.04
GF Value