Latest Ratios: P/E Ratio 12.7x · EV/EBITDA 1.7x · ROE 8.8%. (2019–2025 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 |
|---|---|---|---|---|---|---|---|---|
| Market Cap | $196M | $243M | $211M | $185M | $124M | $126M | — | — |
| Enterprise Value | $37M | $84M | $111M | $74M | $30M | $41M | — | — |
| P/E Ratio → | 12.66 | 15.88 | 17.18 | 10.76 | 4.95 | 4.22 | — | — |
| P/S Ratio | 1.30 | 1.61 | 2.17 | 2.13 | 1.37 | 1.55 | — | — |
| P/B Ratio | 1.00 | 1.26 | 1.22 | 1.19 | 0.88 | 1.09 | — | — |
| P/FCF | — | — | — | 38.43 | 2.29 | — | — | — |
| P/OCF | — | — | — | 15.06 | 2.02 | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.56 | 1.14 | 0.86 | 0.34 | 0.50 | — | — |
| EV / EBITDA | 1.71 | 3.88 | 4.97 | 2.69 | 0.80 | 0.94 | — | — |
| EV / EBIT | 1.71 | 3.88 | 6.52 | 3.12 | 0.85 | 0.97 | — | — |
| EV / FCF | — | — | — | 15.45 | 0.56 | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 61.0% | 61.0% | 72.3% | 75.0% | 83.4% | 88.5% | 84.1% | 80.9% |
| Operating Margin | 14.4% | 14.4% | 17.4% | 27.5% | 39.9% | 52.1% | 34.5% | 36.4% |
| Net Profit Margin | 10.7% | 10.7% | 13.1% | 20.2% | 27.8% | 38.9% | 25.5% | 27.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | 8.8% | 8.8% | 7.8% | 11.8% | 19.6% | 39.2% | 28.4% | 29.2% |
| ROA | 1.9% | 1.9% | 1.9% | 3.5% | 6.4% | 9.1% | 4.5% | 5.5% |
| ROIC | 8.7% | 8.7% | 7.5% | 11.5% | 20.5% | 24.1% | 12.6% | 29.1% |
| ROCE | 10.4% | 10.4% | 9.0% | 14.1% | 25.2% | 30.2% | 16.2% | 36.9% |
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 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.02 | 0.02 | 0.03 | 0.04 | 0.05 | 0.01 | 2.20 | — |
| Debt / EBITDA | 0.20 | 0.20 | 0.24 | 0.23 | 0.19 | 0.02 | 6.25 | — |
| Net Debt / Equity | — | -0.82 | -0.58 | -0.71 | -0.66 | -0.73 | 1.17 | -1.05 |
| Net Debt / EBITDA | -7.31 | -7.31 | -4.52 | -4.00 | -2.44 | -1.96 | 3.32 | -2.62 |
| Debt / FCF | — | — | — | -22.99 | -1.73 | — | 2.82 | — |
| Interest Coverage | 1.07 | 1.07 | 1.10 | 2.39 | 25.13 | 33.42 | 8.62 | 8.78 |
Net cash position: cash ($163M) exceeds total debt ($4M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.22 | 0.22 | 0.35 | 0.40 | 0.46 | 0.35 | 0.30 | 0.25 |
| Quick Ratio | 0.22 | 0.22 | 0.35 | 0.40 | 0.46 | 0.35 | 0.30 | 0.25 |
| Cash Ratio | 0.22 | 0.22 | 0.19 | 0.29 | 0.41 | 0.34 | 0.29 | 0.24 |
| Asset Turnover | — | 0.15 | 0.13 | 0.15 | 0.23 | 0.21 | 0.14 | 0.20 |
| 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 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 7.9% | 6.3% | 5.8% | 9.3% | 20.2% | 23.7% | — | — |
| FCF Yield | — | — | — | 2.6% | 43.6% | — | — | — |
| Buyback Yield | 0.0% | — | — | — | — | — | — | — |
| Total Shareholder Yield | 0.0% | — | — | — | — | — | — | — |
| Shares Outstanding | — | $14M | $13M | $13M | $13M | $9M | $12M | $12M |
Fintech partner credit concentration
Based on recent market data, FinWise Bancorp trades at a P/B multiple of 1.06, which suggests that investors are pricing the institution as a technology-enabled platform rather than a traditional regional bank, despite the inherent volatility in its fee-dependent revenue model and recent shifts in interest income.
The current valuation implies that the market assigns a premium to the bank's ILC charter and its ability to scale fintech partnerships rapidly. However, investors should monitor whether this multiple is sustainable given the recent transition to a 100% fee-based revenue structure, which may introduce higher earnings volatility than traditional interest-spread models.
As reported in quarterly performance metrics, the bank's ROE has remained constrained between 1.4% and 2.7% over the last ten quarters, indicating that the shift toward transactional fee income has not yet translated into superior bottom-line profitability compared to traditional interest-earning banking models.
The DuPont decomposition suggests that profitability is currently driven by non-interest income rather than net interest margin, which has been inconsistent. This reliance on gain-on-sale premiums warrants further investigation into the durability of these margins if secondary market appetite for fintech-originated loans were to contract.
According to historical financial data, the efficiency ratio improved from 55.4% in 2024Q4 to 45.0% by 2025Q4, demonstrating that the bank is successfully achieving operating leverage as it scales its strategic partnership programs despite the inherent complexity of managing a nationwide fintech-enabled lending platform.
While the efficiency ratio shows positive momentum, the volatility in NIM—which fluctuated between 1.7% and 2.5%—suggests that the bank remains vulnerable to funding cost pressures. The bank's ability to maintain these efficiency gains will likely depend on its success in managing the high variable costs associated with third-party loan processing.
Based on quarterly filings, the equity-to-assets ratio declined from 0.26 in 2023Q4 to 0.22 in 2026Q1, indicating that while the bank maintains a solid capital base, the aggressive pace of asset expansion is naturally consuming the capital buffer built through retained earnings.
The current capital position appears adequate to support ongoing growth, yet the lack of dividend payments suggests that management is prioritizing capital retention to satisfy regulatory requirements. Investors should monitor whether this capital-intensive growth model requires future equity raises if asset expansion continues to outpace internal capital generation.
The P/E ratio is frequently misapplied to FinWise Bancorp, as it obscures the extreme volatility in earnings caused by lumpy gain-on-sale premiums and significant, non-recurring provisions for credit losses that do not reflect the bank's underlying operational health or its long-term franchise value.
Analysts should instead focus on P/TBV and the stability of fee-income streams, as the P/E ratio fails to account for the fair-value adjustments inherent in the bank's loan-sale accounting. Relying on P/E may lead to an inaccurate assessment of the bank's valuation during periods of high credit provisioning or secondary market disruption.
Includes 30+ ratios · 7 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 FINW stock.
FinWise Bancorp's current P/E ratio is 12.7x. The historical average is 10.6x. This places it at the 60th percentile of its historical range.
FinWise Bancorp's current EV/EBITDA is 1.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 2.7x.
FinWise Bancorp's return on equity (ROE) is 8.8%. The historical average is 20.7%.
Based on historical data, FinWise Bancorp is trading at a P/E of 12.7x. This is at the 60th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
FinWise Bancorp has 61.0% gross margin and 14.4% operating margin. Operating margin between 10-20% is typical for established companies.
FinWise Bancorp's Debt/EBITDA ratio is 0.2x, indicating low leverage. A ratio below 2x is generally considered financially healthy.