Latest Ratios: P/E Ratio 22.1x · EV/EBITDA 21.5x · ROE 5.7%. (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 | $1.6B | $1.3B | $883M | $893M | $956M | $1.3B | $785M | $908M | $598M | $830M | $796M |
| Enterprise Value | $2.7B | $2.4B | $1.3B | $1.7B | $1.7B | $1.7B | $1.1B | $1.4B | $1.2B | $1.4B | $1.1B |
| P/E Ratio → | 22.11 | 17.72 | 13.02 | 11.07 | 8.04 | 10.16 | 11.06 | 12.43 | 9.88 | 19.22 | 25.69 |
| P/S Ratio | 2.71 | 2.18 | 1.65 | 1.77 | 2.47 | 4.18 | 2.43 | 3.25 | 2.70 | 4.38 | 4.65 |
| P/B Ratio | 1.05 | 0.84 | 0.71 | 0.73 | 0.81 | 1.18 | 0.86 | 1.24 | 0.97 | 1.47 | 1.50 |
| P/FCF | 16.29 | 13.09 | 15.51 | 10.45 | 5.51 | 6.64 | 9.94 | 15.34 | 6.87 | 6.46 | 16.94 |
| P/OCF | 15.46 | 12.42 | 14.54 | 9.61 | 5.41 | 6.55 | 9.67 | 14.96 | 6.71 | 6.33 | 16.02 |
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 | — | 3.96 | 2.45 | 3.33 | 4.42 | 5.34 | 3.49 | 4.84 | 5.21 | 7.41 | 6.58 |
| EV / EBITDA | 21.49 | 18.93 | 12.58 | 13.64 | 9.67 | 9.36 | 11.60 | 13.73 | 15.42 | 19.41 | 24.29 |
| EV / EBIT | 24.15 | 21.28 | 13.30 | 14.33 | 9.99 | 9.67 | 12.47 | 14.38 | 16.22 | 20.51 | 26.29 |
| EV / FCF | — | 23.76 | 23.01 | 19.61 | 9.86 | 8.48 | 14.28 | 22.85 | 13.26 | 10.94 | 23.97 |
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 | 44.2% | 44.2% | 46.8% | 51.8% | 76.9% | 89.5% | 65.5% | 66.6% | 63.9% | 77.7% | 59.2% |
| Operating Margin | 18.6% | 18.6% | 18.4% | 23.2% | 44.2% | 55.3% | 28.0% | 33.6% | 32.1% | 36.1% | 25.0% |
| Net Profit Margin | 13.3% | 13.3% | 13.8% | 17.3% | 32.4% | 41.2% | 22.1% | 26.3% | 27.2% | 22.8% | 18.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 5.7% | 5.7% | 6.0% | 7.3% | 10.9% | 12.8% | 8.7% | 10.9% | 10.2% | 7.9% | 6.2% |
| ROA | 0.7% | 0.7% | 0.7% | 0.9% | 1.4% | 1.7% | 1.0% | 1.3% | 1.1% | 0.9% | 0.7% |
| ROIC | 3.5% | 3.5% | 3.5% | 3.9% | 6.5% | 7.9% | 4.6% | 5.2% | 4.1% | 4.4% | 2.8% |
| ROCE | 1.5% | 1.5% | 6.9% | 8.1% | 10.5% | 10.3% | 6.0% | 6.8% | 5.3% | 5.7% | 3.7% |
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 | 0.74 | 0.74 | 0.63 | 0.84 | 0.87 | 0.56 | 0.71 | 0.88 | 1.19 | 1.28 | 1.00 |
| Debt / EBITDA | 9.23 | 9.23 | 7.52 | 8.35 | 5.78 | 3.50 | 6.65 | 6.56 | 9.74 | 10.01 | 11.44 |
| Net Debt / Equity | — | 0.69 | 0.34 | 0.64 | 0.64 | 0.33 | 0.37 | 0.61 | 0.91 | 1.02 | 0.62 |
| Net Debt / EBITDA | 8.50 | 8.50 | 4.10 | 6.37 | 4.27 | 2.04 | 3.53 | 4.51 | 7.43 | 7.95 | 7.12 |
| Debt / FCF | — | 10.67 | 7.50 | 9.17 | 4.35 | 1.84 | 4.34 | 7.51 | 6.39 | 4.48 | 7.03 |
| Interest Coverage | 0.39 | 0.39 | 0.36 | 0.50 | 2.39 | 4.50 | 1.29 | 1.10 | 1.21 | 1.89 | 1.38 |
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 | 391.51 | 391.51 | 0.05 | 0.11 | 0.12 | 0.13 | 0.14 | 0.13 | 0.15 | 0.16 | 0.17 |
| Quick Ratio | 391.51 | 391.51 | 0.05 | 0.11 | 0.12 | 0.13 | 0.14 | 0.13 | 0.15 | 0.16 | 0.17 |
| Cash Ratio | 2.85 | 2.85 | 0.04 | 0.03 | 0.03 | 0.04 | 0.05 | 0.04 | 0.04 | 0.04 | 0.06 |
| Asset Turnover | — | 0.04 | 0.05 | 0.05 | 0.04 | 0.04 | 0.04 | 0.05 | 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 | 1.9% | 2.4% | 3.1% | 2.9% | 2.5% | 1.3% | 1.8% | 1.3% | 1.6% | 1.2% | 1.1% |
| Payout Ratio | 39.7% | 39.7% | 37.0% | 29.8% | 18.7% | 13.4% | 20.1% | 16.6% | 16.0% | 22.2% | 29.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.5% | 5.6% | 7.7% | 9.0% | 12.4% | 9.8% | 9.0% | 8.0% | 10.1% | 5.2% | 3.9% |
| FCF Yield | 6.1% | 7.6% | 6.4% | 9.6% | 18.2% | 15.1% | 10.1% | 6.5% | 14.6% | 15.5% | 5.9% |
| Buyback Yield | 0.1% | 0.2% | 0.8% | 2.2% | 1.6% | 0.8% | 0.2% | 1.4% | 0.1% | 0.0% | 0.0% |
| Total Shareholder Yield | 2.1% | 2.6% | 3.9% | 5.1% | 4.0% | 2.1% | 2.0% | 2.7% | 1.8% | 1.2% | 1.1% |
| Shares Outstanding | — | $50M | $39M | $39M | $39M | $40M | $40M | $35M | $32M | $32M | $31M |
CRE concentration and funding
According to recent market data, CNOB trades at a P/B of 1.06, which appears to discount the bank's tangible book value relative to regional peers like NBTB and TRMK, suggesting that investors remain cautious regarding the bank's specific exposure to commercial real estate and interest rate sensitivity.
The current valuation multiple implies that the market is pricing CNOB as a commodity balance sheet rather than a premium franchise, likely due to the volatility in recent earnings. Investors should monitor whether the forward P/E of 10.19 provides a sufficient margin of safety given the ongoing margin compression.
Based on reported financial figures, the bank's ROE has struggled to exceed 2.7% in recent quarters, a trend that appears driven by persistent NIM compression and the necessity of elevated loan loss provisions, which collectively weigh on the bank's ability to generate sustainable returns on tangible equity.
The decomposition of profitability suggests that while the bank maintains a lean efficiency ratio, the core NIM of 0.8% is insufficient to drive high-quality ROE. This indicates that the bank's profitability is currently more sensitive to credit costs and funding dynamics than to operational leverage.
As reported in quarterly filings, CNOB maintains a highly competitive efficiency ratio of 28.7%, yet this operational discipline is currently offset by a compressed NIM of 0.8%, indicating that the bank's cost-control measures are not fully insulating the bottom line from rising deposit funding costs.
The bank's ability to keep non-interest expenses low is a structural strength, but it may be reaching a point of diminishing returns. Investors should monitor whether the bank can maintain this efficiency while simultaneously navigating the competitive NY/NJ deposit market without further eroding its net interest spread.
Based on an analysis of regional banking metrics, the P/E ratio is frequently misapplied to CNOB, as it fails to account for the lumpy nature of CECL-driven loan loss provisions that can artificially depress earnings and create misleading valuation signals during periods of credit cycle volatility.
Using P/E as a primary valuation tool obscures the underlying earnings power of the bank by focusing on accounting-driven provision expenses rather than pre-provision net revenue. Analysts should instead prioritize P/TBV and P/PPNR to better assess the bank's true franchise value and operational performance.
Includes 30+ ratios · 30 years · Updated daily
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying CNOB stock.
ConnectOne Bancorp, Inc.'s current P/E ratio is 22.1x. The historical average is 17.7x. This places it at the 80th percentile of its historical range.
ConnectOne Bancorp, Inc.'s current EV/EBITDA is 21.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 18.9x.
ConnectOne Bancorp, Inc.'s return on equity (ROE) is 5.7%. The historical average is 9.8%.
Based on historical data, ConnectOne Bancorp, Inc. is trading at a P/E of 22.1x. This is at the 80th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
ConnectOne Bancorp, Inc.'s current dividend yield is 1.94% with a payout ratio of 39.7%.
ConnectOne Bancorp, Inc. has 44.2% gross margin and 18.6% operating margin. Operating margin between 10-20% is typical for established companies.
ConnectOne Bancorp, Inc.'s Debt/EBITDA ratio is 9.2x, indicating high leverage. A ratio above 4x may signal elevated financial risk.