Latest Ratios: P/E Ratio 13.5x · EV/EBITDA 9.7x · ROE 10.9%. (1996–2025 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 | $4.1B | $3.3B | $3.4B | $3.2B | $3.0B | $3.4B | $2.6B | $3.1B | $2.7B | $3.4B | $3.0B |
| Enterprise Value | $4.2B | $3.4B | $3.5B | $3.8B | $3.5B | $3.4B | $2.8B | $3.8B | $3.2B | $3.9B | $3.7B |
| P/E Ratio → | 13.54 | 10.66 | 12.05 | 9.17 | 8.45 | 11.31 | 11.22 | 10.93 | 10.04 | 19.43 | 17.37 |
| P/S Ratio | 2.98 | 2.38 | 2.48 | 2.48 | 3.35 | 4.68 | 3.45 | 3.75 | 3.80 | 5.63 | 5.71 |
| P/B Ratio | 1.43 | 1.12 | 1.21 | 1.19 | 1.23 | 1.38 | 1.06 | 1.33 | 1.29 | 1.74 | 1.66 |
| P/FCF | 11.33 | 9.05 | 10.58 | 8.52 | 6.56 | 10.22 | 8.17 | 7.14 | 8.30 | 13.90 | 13.17 |
| P/OCF | 11.18 | 8.93 | 10.46 | 8.44 | 6.52 | 10.10 | 8.03 | 7.02 | 8.13 | 13.73 | 12.97 |
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 | — | 2.42 | 2.53 | 2.89 | 3.86 | 4.77 | 3.71 | 4.61 | 4.51 | 6.44 | 6.87 |
| EV / EBITDA | 9.70 | 7.78 | 10.51 | 8.97 | 7.13 | 8.64 | 10.19 | 10.30 | 9.41 | 12.80 | 14.65 |
| EV / EBIT | 10.27 | 8.23 | 11.07 | 9.37 | 7.43 | 9.00 | 10.85 | 10.74 | 9.62 | 13.11 | 15.11 |
| EV / FCF | — | 9.22 | 10.80 | 9.92 | 7.56 | 10.40 | 8.77 | 8.77 | 9.85 | 15.92 | 15.85 |
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 | 55.1% | 55.1% | 49.8% | 59.8% | 85.5% | 92.7% | 72.3% | 77.0% | 83.7% | 87.2% | 87.7% |
| Operating Margin | 29.4% | 29.4% | 22.8% | 30.8% | 52.0% | 53.0% | 34.2% | 42.9% | 46.9% | 49.2% | 45.5% |
| Net Profit Margin | 22.8% | 22.8% | 20.6% | 27.0% | 39.7% | 41.4% | 30.8% | 34.3% | 37.8% | 29.0% | 32.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 10.9% | 10.9% | 10.2% | 13.6% | 14.7% | 12.3% | 9.7% | 12.6% | 13.3% | 9.3% | 9.8% |
| ROA | 1.3% | 1.3% | 1.2% | 1.6% | 1.7% | 1.5% | 1.2% | 1.6% | 1.7% | 1.2% | 1.3% |
| ROIC | 9.8% | 9.8% | 7.3% | 9.2% | 12.3% | 10.6% | 6.4% | 8.7% | 9.1% | 8.3% | 7.0% |
| ROCE | 4.5% | 4.5% | 8.9% | 11.2% | 15.1% | 13.3% | 8.0% | 10.8% | 11.4% | 11.2% | 10.0% |
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 | 0.07 | 0.07 | 0.08 | 0.26 | 0.27 | 0.08 | 0.13 | 0.38 | 0.35 | 0.38 | 0.46 |
| Debt / EBITDA | 0.48 | 0.48 | 0.68 | 1.68 | 1.34 | 0.48 | 1.21 | 2.41 | 2.14 | 2.43 | 3.35 |
| Net Debt / Equity | — | 0.02 | 0.02 | 0.20 | 0.19 | 0.02 | 0.08 | 0.31 | 0.24 | 0.25 | 0.34 |
| Net Debt / EBITDA | 0.15 | 0.15 | 0.21 | 1.27 | 0.94 | 0.15 | 0.69 | 1.92 | 1.48 | 1.62 | 2.48 |
| Debt / FCF | — | 0.17 | 0.22 | 1.40 | 1.00 | 0.18 | 0.60 | 1.64 | 1.55 | 2.01 | 2.68 |
| Interest Coverage | 0.72 | 0.72 | 0.48 | 0.81 | 4.02 | 5.55 | 1.71 | 1.80 | 2.77 | 3.71 | 2.98 |
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 | 0.20 | 0.20 | 0.09 | 0.13 | 0.15 | 0.20 | 0.16 | 0.14 | 0.14 | 0.15 | 0.21 |
| Quick Ratio | 0.20 | 0.20 | 0.09 | 0.13 | 0.15 | 0.20 | 0.16 | 0.14 | 0.14 | 0.15 | 0.21 |
| Cash Ratio | 0.02 | 0.02 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 | 0.02 | 0.02 |
| Asset Turnover | — | 0.06 | 0.06 | 0.06 | 0.04 | 0.03 | 0.04 | 0.04 | 0.04 | 0.04 | 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 | 2.2% | 2.9% | 2.8% | 3.0% | 3.3% | 2.9% | 3.8% | 3.2% | 3.0% | 2.0% | 1.9% |
| Payout Ratio | 29.8% | 29.8% | 34.3% | 27.9% | 28.0% | 33.3% | 43.1% | 35.5% | 30.7% | 39.7% | 33.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 7.4% | 9.4% | 8.3% | 10.9% | 11.8% | 8.8% | 8.9% | 9.1% | 10.0% | 5.1% | 5.8% |
| FCF Yield | 8.8% | 11.1% | 9.5% | 11.7% | 15.2% | 9.8% | 12.2% | 14.0% | 12.1% | 7.2% | 7.6% |
| Buyback Yield | 4.4% | 5.5% | 2.5% | 0.5% | 4.6% | 4.9% | 0.9% | 1.2% | 1.6% | 0.0% | 1.8% |
| Total Shareholder Yield | 6.6% | 8.3% | 5.3% | 3.6% | 8.0% | 7.9% | 4.8% | 4.4% | 4.6% | 2.0% | 3.7% |
| Shares Outstanding | — | $68M | $72M | $73M | $75M | $79M | $80M | $80M | $82M | $81M | $80M |
CRE Concentration and Credit Quality
According to current market data, CATY trades at a P/B of 1.44, which suggests that investors are pricing the bank as a stable but low-growth franchise relative to peers like Preferred Bank, which commands a higher multiple despite a more aggressive risk profile.
The current P/B multiple appears to reflect a market skepticism regarding the bank's ability to expand its net interest margin in the near term. Investors should monitor whether the forward P/E of 11.31 adequately accounts for the potential credit headwinds inherent in the bank's concentrated commercial real estate portfolio.
Based on the reported quarterly figures, CATY's ROE has remained constrained within a narrow 2.4% to 3.1% range over the last ten quarters, indicating that the bank's profitability is currently struggling to overcome the structural pressure of a stagnant 0.8% net interest margin.
The decomposition of profitability suggests that the bank's reliance on a stable equity-to-assets ratio of 0.12 limits its ability to leverage returns during periods of margin compression. The lack of significant non-interest income contribution, which has fluctuated, further highlights the bank's dependence on traditional interest-spread income.
As reported in financial statements, CATY has successfully improved its efficiency ratio from 31.0% in 2023Q4 to 21.3% in 2026Q1, demonstrating a disciplined approach to cost control that partially mitigates the impact of a persistently flat 0.8% net interest margin.
While the efficiency ratio improvement is a positive indicator of operational discipline, it may not be sufficient to drive earnings growth if the net interest margin remains trapped by rising deposit costs. The bank appears to be prioritizing expense management as a primary lever to protect profitability in a challenging interest rate environment.
Based on a comparison with regional peers, CATY's 2.9% ROE significantly lags behind the 17.5% ROE reported by Preferred Bank, suggesting that CATY's conservative balance sheet management may be sacrificing potential growth for stability in a highly competitive niche market.
The valuation gap between CATY and its peers appears to be structural rather than cyclical, reflecting the market's preference for the higher-growth profiles of competitors. Investors should monitor whether this performance lag is a deliberate management choice to preserve capital or a sign of diminishing competitive advantage in the Chinese-American banking segment.
Investors frequently misapply the P/E ratio to CATY, which obscures the impact of volatile provision expenses on earnings and fails to account for the bank's underlying capital adequacy and the quality of its loan book, making P/TBV a more reliable metric for valuation.
The P/E ratio is particularly misleading for this institution because it is highly sensitive to the timing of credit loss provisions under CECL, which can create artificial volatility in reported earnings. Analysts should instead focus on the Price-to-Tangible-Book-Value (P/TBV) to better assess the bank's valuation relative to its core capital base and long-term franchise value.
Includes 30+ ratios · 30 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying CATY stock.
Cathay General Bancorp's current P/E ratio is 13.5x. The historical average is 14.5x. This places it at the 39th percentile of its historical range.
Cathay General Bancorp's current EV/EBITDA is 9.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 12.9x.
Cathay General Bancorp's return on equity (ROE) is 10.9%. The historical average is 11.4%.
Based on historical data, Cathay General Bancorp is trading at a P/E of 13.5x. This is at the 39th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Cathay General Bancorp's current dividend yield is 2.24% with a payout ratio of 29.8%.
Cathay General Bancorp has 55.1% gross margin and 29.4% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Cathay General Bancorp's Debt/EBITDA ratio is 0.5x, indicating low leverage. A ratio below 2x is generally considered financially healthy.