What is First BanCorp's contract assets?

First BanCorp (FBP) reported contract assets of $0 in Q1 2026.

What does contract assets mean?

Revenue recognized under ASC 606 where the right to payment is conditional on something other than the passage of time — work performed but not yet billable.

First BanCorp FBP Contract Assets

Contract Assets at other companies

MYR GroupMYRG

$224.26M-34.4%

Orion Group HoldingsORN

$42.63M-32.9%

Aebi Schmidt Holding AG Common StockAEBI

$81.43M+162%

LegalZoom.com, Inc.LZ

$3.31M-12.7%

GitLabGTLB

$3.3M—

ADTADT

$22.86M-54.9%

Other financials

Income statement

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Revenue$258.6M+4.2%

Net income$88.8M+15.2%

EPS (diluted)$0.57+21.3%

Balance sheet

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Cash & equivalents$550.9M-58.5%

Total debt$380.0M+14.8%

Total equity$2.0B+10.6%

Total assets$19.1B-0.1%

Cash flow

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Operating cash flow$121.1M+11.9%

CapEx$5.2M+248%

Free cash flow$115.9M+8.6%

Valuation

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Market cap$4.11B+29.7%

Enterprise value$3.93B+81.5%

P/E11.5×+1.0×

P/S4.1×+0.7×

Profitability

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Net margin35.3%+3.6pp

FCF margin44.2%+3.7pp

Returns & leverage

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Return on equity19%+0.5pp

Debt / equity0.2×0.0×

Where this comes from

Reported directly by First BanCorp in its filing.

Tagged under the XBRL concept us-gaap:ContractWithCustomerAssetGross.

The official record: First BanCorp’s 10-Q, filed May 8, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is First BanCorp's contract assets?: First BanCorp (FBP) reported contract assets of $0 in Q1 2026.
What does contract assets mean?: Revenue recognized under ASC 606 where the right to payment is conditional on something other than the passage of time — work performed but not yet billable.