Latest Ratios: P/E Ratio 14.9x · EV/EBITDA 13.3x · ROE 9.3%. (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 | $3.1B | $2.5B | $3.0B | $2.8B | $3.6B | $2.9B | $2.7B | $3.0B | $2.5B | $2.6B | $2.5B |
| Enterprise Value | $3.9B | $3.4B | $3.5B | $4.8B | $5.0B | $1.8B | $1.1B | $3.3B | $3.0B | $3.0B | $3.0B |
| P/E Ratio → | 14.86 | 12.24 | 14.87 | 12.70 | 15.42 | 13.72 | 15.00 | 14.58 | 16.18 | 24.80 | 24.39 |
| P/S Ratio | 4.76 | 3.93 | 4.50 | 4.20 | 6.42 | 6.20 | 5.55 | 5.96 | 6.09 | 7.94 | 8.21 |
| P/B Ratio | 1.34 | 1.10 | 1.36 | 1.35 | 1.85 | 1.39 | 1.32 | 1.51 | 1.33 | 2.42 | 2.49 |
| P/FCF | 14.10 | 11.63 | 12.13 | 9.60 | 13.43 | 15.21 | 14.72 | 14.90 | 15.35 | 19.21 | 22.06 |
| P/OCF | 13.84 | 11.42 | 11.88 | 9.46 | 13.17 | 14.85 | 14.35 | 14.51 | 14.96 | 18.53 | 19.83 |
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 | — | 5.30 | 5.35 | 7.28 | 8.81 | 3.81 | 2.35 | 6.49 | 7.51 | 9.22 | 9.92 |
| EV / EBITDA | 13.32 | 11.51 | 12.29 | 14.53 | 14.48 | 6.13 | 4.53 | 10.49 | 13.87 | 15.69 | 17.79 |
| EV / EBIT | 14.01 | 12.11 | 12.99 | 15.37 | 15.08 | 6.00 | 4.51 | 11.29 | 14.42 | 15.91 | 18.37 |
| EV / FCF | — | 15.70 | 14.40 | 16.65 | 18.45 | 9.37 | 6.23 | 16.21 | 18.93 | 22.30 | 26.64 |
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 | 79.9% | 79.9% | 72.9% | 82.0% | 96.5% | 104.4% | 92.1% | 94.7% | 96.5% | 100.2% | 99.6% |
| Operating Margin | 43.8% | 43.8% | 41.2% | 47.4% | 58.4% | 63.6% | 52.1% | 57.5% | 52.1% | 57.9% | 54.0% |
| Net Profit Margin | 32.5% | 32.5% | 30.5% | 33.3% | 41.9% | 45.4% | 37.0% | 41.0% | 37.5% | 32.0% | 33.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 9.3% | 9.3% | 9.4% | 11.0% | 11.7% | 10.4% | 8.9% | 10.8% | 10.4% | 10.1% | 10.6% |
| ROA | 1.4% | 1.4% | 1.3% | 1.4% | 1.5% | 1.4% | 1.4% | 1.8% | 1.5% | 1.3% | 1.3% |
| ROIC | 6.8% | 6.8% | 5.5% | 6.0% | 7.9% | 8.6% | 7.6% | 8.6% | 7.5% | 8.5% | 7.2% |
| ROCE | 9.3% | 9.3% | 11.6% | 14.6% | 15.1% | 13.2% | 11.4% | 14.1% | 13.4% | 16.6% | 15.3% |
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 | 0.43 | 0.43 | 0.35 | 1.13 | 0.80 | 0.31 | 0.23 | 0.23 | 0.40 | 0.54 | 0.69 |
| Debt / EBITDA | 3.34 | 3.34 | 2.66 | 7.02 | 4.56 | 2.21 | 1.89 | 1.45 | 3.41 | 3.03 | 4.07 |
| Net Debt / Equity | — | 0.38 | 0.25 | 0.99 | 0.69 | -0.54 | -0.76 | 0.13 | 0.31 | 0.39 | 0.52 |
| Net Debt / EBITDA | 2.98 | 2.98 | 1.94 | 6.15 | 3.94 | -3.82 | -6.17 | 0.85 | 2.63 | 2.18 | 3.06 |
| Debt / FCF | — | 4.06 | 2.28 | 7.05 | 5.02 | -5.85 | -8.49 | 1.31 | 3.59 | 3.10 | 4.58 |
| Interest Coverage | 2.12 | 2.12 | 1.48 | 2.67 | 35.87 | 48.96 | 17.47 | 13.18 | 16.47 | 22.76 | 20.35 |
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 | 0.01 | 0.01 | 0.04 | 0.26 | 0.26 | 0.37 | 0.37 | 0.22 | 0.22 | 0.34 | 0.37 |
| Quick Ratio | 0.01 | 0.01 | 0.04 | 0.26 | 0.26 | 0.37 | 0.37 | 0.22 | 0.22 | 0.34 | 0.37 |
| Cash Ratio | 0.01 | 0.01 | 0.02 | 0.02 | 0.01 | 0.13 | 0.16 | 0.02 | 0.02 | 0.02 | 0.02 |
| Asset Turnover | — | 0.04 | 0.04 | 0.04 | 0.03 | 0.03 | 0.03 | 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 | 3.6% | 4.4% | 3.8% | 4.0% | 2.9% | 3.4% | 3.7% | 3.2% | 2.7% | 2.2% | 2.1% |
| Payout Ratio | 53.0% | 53.0% | 55.7% | 50.4% | 44.4% | 46.0% | 55.6% | 45.9% | 43.4% | 54.6% | 50.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.7% | 8.2% | 6.7% | 7.9% | 6.5% | 7.3% | 6.7% | 6.9% | 6.2% | 4.0% | 4.1% |
| FCF Yield | 7.1% | 8.6% | 8.2% | 10.4% | 7.4% | 6.6% | 6.8% | 6.7% | 6.5% | 5.2% | 4.5% |
| Buyback Yield | 2.6% | 3.2% | 0.1% | 0.8% | 3.2% | 0.3% | 3.5% | 0.1% | 0.3% | 0.0% | 0.1% |
| Total Shareholder Yield | 6.3% | 7.6% | 3.9% | 4.8% | 6.1% | 3.7% | 7.2% | 3.2% | 3.0% | 2.2% | 2.2% |
| Shares Outstanding | — | $136M | $139M | $138M | $140M | $135M | $136M | $140M | $122M | $110M | $108M |
California CRE Concentration
Based on recent market data, CVBF trades at a P/B of 1.33, which suggests investors continue to assign a quality premium to the bank's franchise despite the recent contraction in total assets from $16.5 billion in 2024Q1 to $15.5 billion in 2026Q1.
The current P/B multiple appears elevated relative to peers like WaFd, which trades closer to book value, implying the market expects CVBF to maintain superior long-term returns on tangible equity. However, the high PEG ratio of 4.65 warrants caution, as it suggests that current valuation levels may be difficult to justify without a meaningful acceleration in organic loan growth.
As reported in financial statements, the bank's ROE has remained compressed between 2.2% and 2.4% over the last ten quarters, indicating that the structural funding advantage provided by non-interest-bearing deposits is currently insufficient to offset broader interest rate pressures on asset yields.
The decomposition of profitability shows that while the efficiency ratio remains disciplined, the lack of meaningful expansion in net interest margin has capped the bank's ability to drive higher returns. Investors should monitor whether the recent shift toward interest-bearing deposits continues to dilute the core profitability profile of the commercial banking segment.
According to quarterly data, CVBF has maintained an efficiency ratio between 29.2% and 37.8% over the past ten quarters, demonstrating that management has successfully controlled non-interest expenses even as the net interest margin has struggled to move beyond the 0.7% to 0.8% range.
This operational discipline appears to be the primary defense against the current revenue contraction. While the bank's cost structure is lean, the persistent flatness in NIM suggests that the institution's asset-sensitive model is facing significant headwinds from rising funding costs that may not be fully mitigated by current pricing power.
Based on the provided quarterly figures, the bank has maintained a steady equity-to-assets ratio of 0.15 throughout 2025, providing a robust capital buffer that supports the current dividend yield of 3.6% while allowing for potential absorption of credit volatility in the California commercial portfolio.
The bank's capital position appears fortress-like, reflecting a conservative management philosophy that prioritizes balance sheet stability over aggressive leverage. This high capital adequacy provides significant flexibility, though it may also imply that the bank is currently under-utilizing its balance sheet in the absence of high-quality, low-risk lending opportunities.
The P/E ratio is the most commonly misapplied metric for CVBF, as it obscures the volatility inherent in the bank's provision for loan losses and the non-cash accounting adjustments that frequently distort quarterly earnings figures.
Investors should instead focus on P/TBV and the trend in core net interest income, as these metrics provide a more accurate reflection of the bank's underlying franchise value and funding cost advantages. Relying on P/E in a period of shifting provision requirements may lead to an inaccurate assessment of the bank's true earnings power.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying CVBF stock.
CVB Financial Corp.'s current P/E ratio is 14.9x. The historical average is 16.7x. This places it at the 30th percentile of its historical range.
CVB Financial Corp.'s current EV/EBITDA is 13.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 16.1x.
CVB Financial Corp.'s return on equity (ROE) is 9.3%. The historical average is 14.2%.
Based on historical data, CVB Financial Corp. is trading at a P/E of 14.9x. This is at the 30th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
CVB Financial Corp.'s current dividend yield is 3.62% with a payout ratio of 53.0%.
CVB Financial Corp. has 79.9% gross margin and 43.8% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
CVB Financial Corp.'s Debt/EBITDA ratio is 3.3x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.