Latest Ratios: P/E Ratio 9.6x · EV/EBITDA 13.8x · ROE 11.5%. (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 | $350M | $274M | $298M | $281M | $301M | $237M | $211M | $215M | $193M | $217M | $175M |
| Enterprise Value | $621M | $545M | $550M | $526M | $527M | $127M | $217M | $267M | $252M | $303M | $230M |
| P/E Ratio → | 9.56 | 7.48 | 10.83 | 15.94 | 10.49 | 8.23 | 8.50 | 11.02 | 10.70 | 16.67 | 13.87 |
| P/S Ratio | 2.02 | 1.58 | 1.77 | 2.02 | 3.24 | 2.77 | 2.58 | 3.05 | 2.99 | 3.83 | 3.44 |
| P/B Ratio | 1.03 | 0.81 | 0.99 | 1.00 | 1.51 | 1.12 | 1.09 | 1.39 | 1.39 | 1.68 | 1.42 |
| P/FCF | 9.93 | 7.77 | 9.35 | 11.74 | 9.54 | 6.31 | 19.40 | 10.08 | 9.19 | 13.98 | 11.23 |
| P/OCF | 9.58 | 7.49 | 8.98 | 10.58 | 9.07 | 6.13 | 17.86 | 9.86 | 8.98 | 13.80 | 10.83 |
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 | — | 3.15 | 3.26 | 3.79 | 5.66 | 1.49 | 2.66 | 3.79 | 3.90 | 5.34 | 4.52 |
| EV / EBITDA | 13.78 | 12.09 | 15.49 | 22.83 | 14.41 | 3.49 | 6.90 | 10.96 | 11.54 | 15.74 | 14.40 |
| EV / EBIT | 13.78 | 12.09 | 16.32 | 24.44 | 14.83 | 3.60 | 7.16 | 11.45 | 11.75 | 15.90 | 14.69 |
| EV / FCF | — | 15.47 | 17.25 | 21.99 | 16.66 | 3.38 | 19.99 | 12.54 | 12.00 | 19.51 | 14.75 |
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 | 63.3% | 63.3% | 58.2% | 62.2% | 86.1% | 89.9% | 87.1% | 80.5% | 82.2% | 85.2% | 87.1% |
| Operating Margin | 26.0% | 26.0% | 20.0% | 15.5% | 38.1% | 41.3% | 37.2% | 33.1% | 33.2% | 33.6% | 30.8% |
| Net Profit Margin | 21.1% | 21.1% | 16.5% | 12.8% | 31.2% | 34.0% | 30.7% | 27.7% | 28.0% | 23.0% | 24.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 11.5% | 11.5% | 9.6% | 7.4% | 14.1% | 14.3% | 14.4% | 13.3% | 13.4% | 10.3% | 10.4% |
| ROA | 1.2% | 1.2% | 0.9% | 0.7% | 1.3% | 1.4% | 1.5% | 1.3% | 1.3% | 1.0% | 1.1% |
| ROIC | 5.4% | 5.4% | 4.3% | 3.1% | 7.2% | 9.3% | 8.7% | 7.4% | 6.8% | 6.4% | 6.5% |
| ROCE | 7.0% | 7.0% | 5.5% | 3.9% | 8.9% | 11.6% | 10.9% | 9.3% | 8.6% | 8.1% | 8.0% |
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 | 0.92 | 0.92 | 0.99 | 1.08 | 1.29 | 0.35 | 0.46 | 0.55 | 0.65 | 0.89 | 0.65 |
| Debt / EBITDA | 6.86 | 6.86 | 8.39 | 13.11 | 7.04 | 2.03 | 2.82 | 3.50 | 4.18 | 5.95 | 4.98 |
| Net Debt / Equity | — | 0.80 | 0.84 | 0.88 | 1.12 | -0.52 | 0.03 | 0.34 | 0.42 | 0.67 | 0.45 |
| Net Debt / EBITDA | 6.02 | 6.02 | 7.09 | 10.64 | 6.16 | -3.02 | 0.20 | 2.15 | 2.70 | 4.46 | 3.44 |
| Debt / FCF | — | 7.70 | 7.90 | 10.25 | 7.12 | -2.92 | 0.59 | 2.46 | 2.81 | 5.53 | 3.52 |
| Interest Coverage | 0.74 | 0.74 | 0.50 | 0.46 | 3.16 | 4.97 | 3.75 | 1.94 | 2.24 | 3.26 | 3.11 |
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 | 0.04 | 0.04 | 0.04 | 0.21 | 0.26 | 0.33 | 0.24 | 0.23 | 0.23 | 0.26 | 0.35 |
| Quick Ratio | 0.04 | 0.04 | 0.04 | 0.21 | 0.26 | 0.33 | 0.24 | 0.23 | 0.23 | 0.26 | 0.35 |
| Cash Ratio | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.10 | 0.05 | 0.03 | 0.03 | 0.03 | 0.02 |
| Asset Turnover | — | 0.06 | 0.06 | 0.05 | 0.04 | 0.04 | 0.04 | 0.05 | 0.05 | 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 | 2.7% | 3.5% | 3.1% | 3.0% | 2.5% | 3.1% | 3.1% | 2.9% | 3.2% | 2.4% | 2.9% |
| Payout Ratio | 26.1% | 26.1% | 33.4% | 47.7% | 26.1% | 25.4% | 26.0% | 32.4% | 33.9% | 39.7% | 40.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 10.5% | 13.4% | 9.2% | 6.3% | 9.5% | 12.2% | 11.8% | 9.1% | 9.3% | 6.0% | 7.2% |
| FCF Yield | 10.1% | 12.9% | 10.7% | 8.5% | 10.5% | 15.9% | 5.2% | 9.9% | 10.9% | 7.2% | 8.9% |
| Buyback Yield | 0.2% | 0.2% | 0.1% | 0.1% | 0.4% | 0.6% | 1.0% | 0.6% | 0.8% | 0.5% | 1.8% |
| Total Shareholder Yield | 2.9% | 3.7% | 3.2% | 3.1% | 2.9% | 3.7% | 4.1% | 3.5% | 3.9% | 2.8% | 4.7% |
| Shares Outstanding | — | $5M | $5M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $4M |
Agricultural loan concentration exposure
According to current market data, CZFS trades at a P/B of 1.05, which, based on reported financial figures, suggests the market is pricing the bank as a commodity balance sheet rather than a premium franchise, likely due to the persistent stagnation in tangible book value growth.
The current P/B multiple indicates that investors are not assigning a significant premium to the bank's specialized trust and agricultural lending capabilities. This valuation appears to reflect a market skepticism regarding the bank's ability to deploy capital at returns significantly above its cost of equity, given the recent trend of low single-digit ROE.
As reported in quarterly filings, CZFS has struggled to maintain an ROE above 3.1%, a level that, based on historical data, suggests a strained profitability profile that is heavily reliant on a conservative leverage strategy rather than high-margin asset utilization or robust non-interest income growth.
The DuPont decomposition reveals that the bank's profitability is constrained by a narrow NIM and a reliance on a large, low-yielding securities portfolio. Without a meaningful expansion in fee-based income or a more aggressive utilization of its capital base, the bank may find it difficult to improve its return on tangible equity in the near term.
Based on the provided financial statements, the bank's NIM has largely remained within a tight 0.7% to 0.9% range, indicating that despite maintaining an efficiency ratio consistently below 40%, the bank faces structural headwinds in capturing a wider spread between its funding costs and asset yields.
The bank's ability to keep its efficiency ratio in the mid-30s is a testament to disciplined cost management, yet this operational efficiency is currently offset by the lack of yield expansion in its loan and securities portfolio. Investors should monitor whether the expansion into Delaware markets eventually provides the scale necessary to improve these margins or if it merely increases the competitive pressure on deposit pricing.
When compared to regional peers like First National Corp and First United Corporation, CZFS lags significantly in profitability, with its ROE of approximately 3% falling well below the double-digit returns observed in the peer group, as indicated by recent market data.
This performance gap appears structural rather than cyclical, likely stemming from the bank's heavy allocation to lower-yielding investment securities compared to the more loan-heavy portfolios of its peers. The valuation discount relative to peers suggests that the market is correctly identifying this lower profitability profile as a persistent feature of the current business model.
The most commonly misapplied metric for CZFS is the P/E ratio, which, as reported in financial analysis, often obscures the bank's true economic health by failing to account for the volatility in provision expenses and the significant impact of unrealized losses on the balance sheet.
Investors should prioritize P/TBV over P/E, as the latter is highly sensitive to accounting adjustments in the provision for credit losses and does not reflect the underlying capital adequacy of the institution. Relying on P/E in a bank with such a large securities portfolio may lead to a fundamental misunderstanding of the bank's true earnings power and its sensitivity to interest rate fluctuations.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying CZFS stock.
Citizens Financial Services, Inc.'s current P/E ratio is 9.6x. The historical average is 11.4x. This places it at the 29th percentile of its historical range.
Citizens Financial Services, Inc.'s current EV/EBITDA is 13.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 11.1x.
Citizens Financial Services, Inc.'s return on equity (ROE) is 11.5%. The historical average is 13.4%.
Based on historical data, Citizens Financial Services, Inc. is trading at a P/E of 9.6x. This is at the 29th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Citizens Financial Services, Inc.'s current dividend yield is 2.73% with a payout ratio of 26.1%.
Citizens Financial Services, Inc. has 63.3% gross margin and 26.0% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Citizens Financial Services, Inc.'s Debt/EBITDA ratio is 6.9x, indicating high leverage. A ratio above 4x may signal elevated financial risk.