Latest Ratios: P/E Ratio 10.4x · EV/EBITDA 5.6x · ROE 10.5%. (2000–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $458M | $414M | $381M | $353M | $525M | $537M | $468M | $621M | $579M | $427M | $427M |
| Enterprise Value | $302M | $258M | $266M | $398M | $731M | $215M | $297M | $454M | $554M | $229M | $383M |
| P/E Ratio → | 10.41 | 9.53 | — | 17.76 | 11.26 | 16.19 | 15.47 | 18.17 | 17.70 | 26.77 | 18.46 |
| P/S Ratio | 2.59 | 2.34 | 3.28 | 2.49 | 3.73 | 4.53 | 4.32 | 5.67 | 5.50 | 5.03 | 5.04 |
| P/B Ratio | 1.14 | 1.05 | 0.88 | 0.80 | 1.27 | 1.19 | 1.31 | 1.85 | 1.83 | 1.44 | 1.85 |
| P/FCF | 12.40 | 11.19 | 13.69 | 10.41 | 9.90 | 12.15 | 11.73 | 15.39 | 14.04 | 16.72 | 17.48 |
| P/OCF | 11.72 | 10.58 | 13.44 | 9.90 | 9.50 | 11.87 | 11.45 | 15.18 | 13.74 | 15.83 | 16.76 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.46 | 2.28 | 2.81 | 5.19 | 1.82 | 2.75 | 4.14 | 5.26 | 2.70 | 4.53 |
| EV / EBITDA | 5.62 | 4.79 | — | 13.49 | 10.93 | 4.50 | 6.82 | 9.25 | 11.92 | 7.31 | 9.87 |
| EV / EBIT | 5.85 | 4.99 | — | 15.27 | 11.51 | 4.79 | 7.32 | 9.88 | 12.76 | 7.93 | 10.51 |
| EV / FCF | — | 6.97 | 9.54 | 11.73 | 13.78 | 4.87 | 7.45 | 11.23 | 13.45 | 8.97 | 15.71 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 76.1% | 76.1% | 55.4% | 72.5% | 98.5% | 99.2% | 91.5% | 94.8% | 96.6% | 97.4% | 99.5% |
| Operating Margin | 29.2% | 29.2% | -11.9% | 18.4% | 45.1% | 37.9% | 37.5% | 41.9% | 41.3% | 34.0% | 43.1% |
| Net Profit Margin | 24.6% | 24.6% | -7.2% | 14.0% | 33.1% | 28.1% | 28.0% | 31.3% | 31.0% | 18.8% | 27.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 10.5% | 10.5% | -1.9% | 4.7% | 10.8% | 8.2% | 8.7% | 10.5% | 10.6% | 6.1% | 10.4% |
| ROA | 1.1% | 1.1% | -0.2% | 0.5% | 1.1% | 0.9% | 1.1% | 1.3% | 1.3% | 0.7% | 1.1% |
| ROIC | 8.4% | 8.4% | -2.1% | 3.3% | 8.4% | 7.8% | 8.2% | 10.1% | 10.4% | 8.0% | 10.5% |
| ROCE | 2.4% | 2.4% | -2.9% | 5.6% | 13.9% | 10.4% | 11.0% | 13.5% | 13.8% | 10.7% | 13.9% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.18 | 0.18 | 0.05 | 0.17 | 0.61 | 0.06 | 0.08 | 0.05 | 0.03 | 0.02 | 0.02 |
| Debt / EBITDA | 1.29 | 1.29 | — | 2.55 | 3.76 | 0.54 | 0.69 | 0.32 | 0.21 | 0.18 | 0.14 |
| Net Debt / Equity | — | -0.40 | -0.27 | 0.10 | 0.50 | -0.71 | -0.48 | -0.50 | -0.08 | -0.67 | -0.19 |
| Net Debt / EBITDA | -2.90 | -2.90 | — | 1.52 | 3.08 | -6.74 | -3.91 | -3.42 | -0.53 | -6.32 | -1.11 |
| Debt / FCF | — | -4.22 | -4.15 | 1.32 | 3.88 | -7.28 | -4.28 | -4.16 | -0.60 | -7.75 | -1.77 |
| Interest Coverage | 1.22 | 1.22 | -0.30 | 0.71 | 24.92 | 13.19 | 13.62 | 9.65 | 12.28 | 16.54 | 16.08 |
Net cash position: cash ($225M) exceeds total debt ($69M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 473.15 | 473.15 | 0.08 | 0.01 | 0.03 | 0.41 | 0.25 | 0.29 | 0.26 | 0.28 | 0.27 |
| Quick Ratio | 473.15 | 473.15 | 0.08 | 0.01 | 0.03 | 0.41 | 0.25 | 0.29 | 0.26 | 0.28 | 0.27 |
| Cash Ratio | 46.03 | 46.03 | 0.04 | 0.01 | 0.01 | 0.09 | 0.08 | 0.08 | 0.02 | 0.09 | 0.03 |
| Asset Turnover | — | 0.05 | 0.03 | 0.04 | 0.03 | 0.03 | 0.04 | 0.04 | 0.04 | 0.03 | 0.04 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 3.6% | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | 37.2% | 37.2% | — | 81.0% | 33.6% | 39.4% | 41.4% | 32.0% | 27.2% | 43.2% | 26.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 9.6% | 10.5% | — | 5.6% | 8.9% | 6.2% | 6.5% | 5.5% | 5.6% | 3.7% | 5.4% |
| FCF Yield | 8.1% | 8.9% | 7.3% | 9.6% | 10.1% | 8.2% | 8.5% | 6.5% | 7.1% | 6.0% | 5.7% |
| Buyback Yield | 0.7% | — | — | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 4.3% | — | — | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $16M | $16M | $16M | $16M | $14M | $14M | $14M | $14M | $13M | $12M |
CRE Concentration and Provisioning
Based on recent market data, BMRC trades at a P/B of 1.12, which appears to discount the bank's historical franchise value as investors weigh the potential for further credit deterioration against the bank's current tangible book value of $20.04 per share as of 2026Q1.
The current valuation multiple suggests that the market is pricing BMRC as a commodity balance sheet rather than a premium franchise, likely due to the extreme volatility in recent earnings. Investors should monitor whether the current P/B discount persists, as it may imply that the market expects further downward revisions to tangible book value if credit losses accelerate.
As reported in financial statements, BMRC's ROE has fluctuated significantly, ranging from a negative 5.0% in 2024Q2 to a peak of 9.4% in 2025Q4, indicating that the bank's profitability is currently highly sensitive to non-recurring items and shifting credit provisions.
The DuPont decomposition suggests that the bank's profitability is currently strained by inconsistent non-interest income and a volatile efficiency ratio. The lack of a stable ROE trend warrants further investigation into whether the bank's high-touch service model can generate sustainable returns in the current interest rate environment.
According to quarterly filings, the efficiency ratio has exhibited extreme variance, swinging from 27.6% in 2025Q4 to over 100% in 2025Q2, which highlights the difficulty management faces in controlling fixed costs relative to the bank's inconsistent revenue streams.
The inability to maintain a stable efficiency ratio suggests that the bank's high fixed-cost structure may be a liability during periods of revenue contraction. Investors should monitor whether management can achieve better operating leverage as they navigate the integration of recent acquisitions and regional economic headwinds.
Based on reported figures, the equity-to-assets ratio has remained constrained between 0.10 and 0.12 throughout the last ten quarters, suggesting that BMRC maintains a relatively thin capital buffer that may be vulnerable to unexpected credit losses or further volatility in the investment securities portfolio.
This capital position appears to limit the bank's capacity for aggressive growth or significant capital returns, especially given the current provisioning pressures. The bank's reliance on a narrow capital base warrants further investigation into its long-term strategy for maintaining regulatory compliance while supporting its commercial lending activities.
The P/E ratio is frequently misapplied to BMRC, as it fails to account for the extreme volatility in quarterly provisions and non-interest income that can artificially inflate or deflate earnings, thereby obscuring the bank's true core operating performance.
Investors should prioritize P/TBV over P/E when evaluating BMRC, as the latter is heavily distorted by the bank's recent credit provisioning swings and M&A-related accounting adjustments. Relying on P/E may lead to a false sense of valuation stability that does not reflect the underlying risks within the commercial real estate portfolio.
Includes 30+ ratios · 26 years · Updated daily
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying BMRC stock.
Bank of Marin Bancorp's current P/E ratio is 10.4x. The historical average is 15.9x. This places it at the 8th percentile of its historical range.
Bank of Marin Bancorp's current EV/EBITDA is 5.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 8.2x.
Bank of Marin Bancorp's return on equity (ROE) is 10.5%. The historical average is 10.8%.
Based on historical data, Bank of Marin Bancorp is trading at a P/E of 10.4x. This is at the 8th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Bank of Marin Bancorp's current dividend yield is 3.57% with a payout ratio of 37.2%.
Bank of Marin Bancorp has 76.1% gross margin and 29.2% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Bank of Marin Bancorp's Debt/EBITDA ratio is 1.3x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.