We establish some eigenvalue criteria for the existence of non-trivial T-periodic solutions of a class of first-order functional differential equations with a nonlinearity f(x). The nonlinear term f(x) can take negative values and may be unbounded from below. Conditions are determined by the relationship between the behaviour of the quotient f(x)/x for x near 0 and ±∞ and the smallest positive characteristic value of an associated linear integral operator. This linear operator plays a key role in the proofs of the results and its construction is non-trivial. Applications to related eigenvalue problems are also discussed. The analysis mainly relies on the topological degree theory.