Latest Ratios: P/E Ratio 23.7x · EV/EBITDA 15.1x · ROE 7.0%. (2012–2025 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 | $2.9B | $3.0B | $2.4B | $1.9B | $1.7B | $2.1B | $1.3B | $1.2B | $1.1B | $1.2B | $501M |
| Enterprise Value | $2.3B | $2.3B | $1.7B | $1.6B | $1.4B | $658M | $426M | $1.5B | $1.2B | $1.7B | $594M |
| P/E Ratio → | 23.73 | 23.25 | 20.77 | 15.51 | 13.69 | 11.04 | 20.80 | 14.94 | 13.68 | 22.58 | 12.36 |
| P/S Ratio | 3.34 | 3.37 | 3.15 | 2.49 | 2.86 | 3.43 | 2.15 | 2.97 | 2.96 | 3.81 | 1.89 |
| P/B Ratio | 1.55 | 1.52 | 1.54 | 1.28 | 1.29 | 1.47 | 1.02 | 1.63 | 1.63 | 1.98 | 1.52 |
| P/FCF | 19.96 | 20.14 | 18.24 | 9.78 | 2.16 | 43.08 | — | 21.78 | 5.43 | 35.82 | — |
| P/OCF | 18.82 | 19.00 | 17.38 | 8.84 | 2.13 | 38.29 | — | 19.45 | 5.17 | 31.49 | — |
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 | — | 2.62 | 2.27 | 2.15 | 2.32 | 1.07 | 0.69 | 3.56 | 3.33 | 5.50 | 2.24 |
| EV / EBITDA | 15.09 | 15.28 | 10.78 | 9.73 | 8.05 | 2.56 | 4.47 | 12.49 | 10.88 | 21.45 | 7.74 |
| EV / EBIT | 16.42 | 16.62 | 11.88 | 10.69 | 8.68 | 2.71 | 5.17 | 13.58 | 11.65 | 23.29 | 9.54 |
| EV / FCF | — | 15.66 | 13.17 | 8.42 | 1.76 | 13.50 | — | 26.05 | 6.10 | 51.76 | — |
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 | 58.9% | 58.9% | 58.1% | 63.5% | 85.2% | 100.5% | 74.5% | 84.8% | 89.0% | 95.1% | 97.0% |
| Operating Margin | 15.8% | 15.8% | 19.1% | 20.1% | 26.8% | 39.6% | 13.4% | 26.2% | 28.6% | 23.6% | 23.5% |
| Net Profit Margin | 14.0% | 14.0% | 15.1% | 16.1% | 20.9% | 31.0% | 10.3% | 20.1% | 21.7% | 16.8% | 15.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 7.0% | 7.0% | 7.7% | 8.6% | 9.0% | 14.0% | 6.2% | 11.7% | 12.6% | 11.3% | 14.3% |
| ROA | 0.8% | 0.8% | 0.9% | 0.9% | 1.0% | 1.6% | 0.7% | 1.5% | 1.6% | 1.3% | 1.3% |
| ROIC | 5.1% | 5.1% | 5.9% | 6.0% | 6.9% | 11.2% | 4.6% | 8.2% | 7.6% | 6.4% | 9.7% |
| ROCE | 6.7% | 6.7% | 7.7% | 7.7% | 8.6% | 14.1% | 5.7% | 10.3% | 12.0% | 11.8% | 16.6% |
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 | 0.15 | 0.15 | 0.16 | 0.32 | 0.37 | 0.16 | 0.23 | 0.45 | 0.34 | 0.97 | 0.65 |
| Debt / EBITDA | 1.88 | 1.88 | 1.53 | 2.84 | 2.87 | 0.88 | 3.14 | 2.90 | 2.03 | 7.28 | 2.82 |
| Net Debt / Equity | — | -0.34 | -0.43 | -0.18 | -0.24 | -1.01 | -0.69 | 0.32 | 0.20 | 0.88 | 0.28 |
| Net Debt / EBITDA | -4.37 | -4.37 | -4.15 | -1.57 | -1.87 | -5.62 | -9.41 | 2.05 | 1.20 | 6.60 | 1.21 |
| Debt / FCF | — | -4.48 | -5.07 | -1.36 | -0.41 | -29.59 | — | 4.28 | 0.68 | 15.94 | — |
| Interest Coverage | 0.44 | 0.44 | 0.47 | 0.55 | 2.31 | 6.46 | 1.68 | 1.94 | 2.98 | 4.50 | 6.53 |
Net cash position: cash ($943M) exceeds total debt ($283M)
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 | 0.12 | 0.12 | 0.17 | 0.17 | 0.22 | 0.32 | 0.26 | 0.17 | 0.19 | 0.16 | 0.25 |
| Quick Ratio | 0.12 | 0.12 | 0.17 | 0.17 | 0.22 | 0.32 | 0.26 | 0.17 | 0.19 | 0.16 | 0.25 |
| Cash Ratio | 0.07 | 0.07 | 0.08 | 0.07 | 0.08 | 0.15 | 0.13 | 0.02 | 0.02 | 0.01 | 0.04 |
| Asset Turnover | — | 0.05 | 0.06 | 0.06 | 0.05 | 0.05 | 0.06 | 0.07 | 0.07 | 0.07 | 0.08 |
| 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 | 1.3% | 1.3% | 1.3% | 1.5% | 1.4% | 1.0% | 1.1% | 0.8% | 0.6% | — | 13.8% |
| Payout Ratio | 30.9% | 30.9% | 27.4% | 23.3% | 19.7% | 11.0% | 22.3% | 12.0% | 7.6% | — | 170.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.2% | 4.3% | 4.8% | 6.4% | 7.3% | 9.1% | 4.8% | 6.7% | 7.3% | 4.4% | 8.1% |
| FCF Yield | 5.0% | 5.0% | 5.5% | 10.2% | 46.2% | 2.3% | — | 4.6% | 18.4% | 2.8% | — |
| Buyback Yield | 5.3% | 5.3% | 0.5% | 0.3% | 2.3% | 0.4% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 6.6% | 6.5% | 1.8% | 1.8% | 3.8% | 1.4% | 1.1% | 0.8% | 0.6% | 0.0% | 13.8% |
| Shares Outstanding | — | $53M | $47M | $47M | $47M | $48M | $38M | $31M | $31M | $28M | $19M |
Mortgage segment earnings volatility
Based on recent market data, FBK trades at a P/B of 1.52, which suggests that investors are assigning a premium to the bank's Nashville-centric franchise relative to peers like SFNC, despite the inherent volatility introduced by its significant mortgage origination and servicing operations.
The current valuation appears to bake in expectations for sustained regional growth, yet the forward P/E of 11.93 indicates that the market remains cautious regarding the durability of earnings. Investors should monitor whether the bank can transition toward a more stable, core-banking-led return profile to justify these multiples over the long term.
According to quarterly financial reports, the bank's ROE has fluctuated between 0.2% and 2.9% over the last ten quarters, a trend that highlights the significant impact of mortgage segment volatility on the firm's overall profitability quality and core earnings stability.
The decomposition of profitability suggests that while the bank maintains a disciplined efficiency ratio, the reliance on non-interest income from mortgage activities creates lumpy performance. Future profitability will likely depend on the bank's ability to stabilize its NIM as deposit costs continue to adjust to the current interest rate environment.
As reported in recent filings, the efficiency ratio reached 37.8% in 2026Q1, demonstrating effective cost control, yet the stagnant NIM of 0.9% suggests that the bank's funding advantage is being tested by the ongoing migration of deposits into higher-yielding interest-bearing accounts.
The bank's ability to maintain a sub-40% efficiency ratio is commendable, but it may be insufficient to offset the structural compression of net interest margins. Analysts should investigate whether the current deposit mix shift is a temporary cyclical phenomenon or a permanent erosion of the bank's low-cost funding moat.
Based on regulatory disclosures, the equity-to-assets ratio has remained consistently at 0.12 over the past ten quarters, providing a stable capital buffer that supports the bank's regional expansion while allowing for opportunistic capital returns through share repurchases when market conditions are favorable.
This consistent capital position suggests a conservative management approach that prioritizes balance sheet resilience over aggressive leverage. Investors should monitor whether this capital adequacy remains sufficient to absorb potential credit shocks within the Nashville commercial real estate portfolio as the bank continues to scale its assets.
The P/E ratio is frequently misapplied to FBK because it fails to account for the non-cash volatility inherent in Mortgage Servicing Rights (MSR) valuations and the cyclical nature of mortgage gain-on-sale income, which can significantly distort the bank's true core earnings power.
Investors should instead prioritize P/TBV and adjusted core ROE, which strip out the noise from the mortgage segment to reveal the underlying performance of the banking franchise. Relying on P/E alone may lead to an inaccurate assessment of the bank's valuation during periods of extreme mortgage market fluctuation.
Includes 30+ ratios · 14 years · Updated daily
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Quick answers to the most common questions about buying FBK stock.
FB Financial Corporation's current P/E ratio is 23.7x. The historical average is 16.9x. This places it at the 100th percentile of its historical range.
FB Financial Corporation's current EV/EBITDA is 15.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.3x.
FB Financial Corporation's return on equity (ROE) is 7.0%. The historical average is 11.7%.
Based on historical data, FB Financial Corporation is trading at a P/E of 23.7x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
FB Financial Corporation's current dividend yield is 1.25% with a payout ratio of 30.9%.
FB Financial Corporation has 58.9% gross margin and 15.8% operating margin. Operating margin between 10-20% is typical for established companies.
FB Financial Corporation's Debt/EBITDA ratio is 1.9x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.