Latest Ratios: P/E Ratio 12.2x · EV/EBITDA 11.0x · ROE 8.7%. (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 | $6.8B | $6.2B | $5.4B | $5.0B | $4.6B | $3.9B | $3.1B | $4.1B | $3.2B | $4.2B | $3.3B |
| Enterprise Value | $8.2B | $7.6B | $7.2B | $7.9B | $5.4B | $2.6B | $4.6B | $8.1B | $7.5B | $8.1B | $6.0B |
| P/E Ratio → | 12.20 | 10.96 | 11.64 | 10.51 | 10.70 | 9.86 | 11.18 | 10.95 | 8.79 | 21.94 | 20.55 |
| P/S Ratio | 2.51 | 2.30 | 2.09 | 2.24 | 2.87 | 2.94 | 2.15 | 2.69 | 2.22 | 3.41 | 3.78 |
| P/B Ratio | 1.02 | 0.92 | 0.85 | 0.83 | 0.82 | 0.76 | 0.62 | 0.85 | 0.70 | 0.95 | 1.30 |
| P/FCF | 18.02 | 16.46 | 10.66 | 14.92 | 4.11 | 8.31 | 42.95 | 19.44 | 5.56 | 18.92 | 14.29 |
| P/OCF | 14.05 | 12.84 | 8.35 | 11.81 | 3.79 | 7.40 | 27.36 | 15.99 | 5.24 | 15.05 | 11.37 |
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 | — | 2.82 | 2.81 | 3.55 | 3.37 | 1.98 | 3.20 | 5.26 | 5.17 | 6.55 | 6.82 |
| EV / EBITDA | 10.98 | 10.20 | 11.59 | 11.93 | 8.64 | 5.16 | 13.55 | 15.69 | 13.32 | 18.13 | 19.55 |
| EV / EBIT | 12.24 | 11.37 | 12.99 | 13.52 | 9.79 | 5.27 | 13.43 | 17.19 | 16.53 | 22.66 | 24.40 |
| EV / FCF | — | 20.24 | 14.33 | 23.58 | 4.82 | 5.61 | 64.00 | 38.02 | 12.97 | 36.34 | 25.76 |
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 | 62.3% | 62.3% | 59.0% | 67.3% | 85.8% | 92.6% | 77.0% | 75.7% | 79.3% | 84.2% | 86.0% |
| Operating Margin | 24.8% | 24.8% | 21.6% | 26.2% | 34.4% | 37.7% | 23.8% | 30.6% | 31.3% | 28.9% | 28.0% |
| Net Profit Margin | 21.0% | 21.0% | 18.1% | 21.8% | 27.3% | 30.3% | 19.8% | 25.1% | 25.8% | 16.2% | 19.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 8.7% | 8.7% | 7.5% | 8.3% | 8.1% | 8.0% | 5.8% | 8.2% | 8.3% | 5.7% | 7.3% |
| ROA | 1.1% | 1.1% | 1.0% | 1.1% | 1.1% | 1.1% | 0.8% | 1.1% | 1.2% | 0.7% | 0.9% |
| ROIC | 4.7% | 4.7% | 3.9% | 4.7% | 5.4% | 5.0% | 3.0% | 3.8% | 3.7% | 3.7% | 3.5% |
| ROCE | 6.7% | 6.7% | 5.7% | 7.0% | 7.9% | 7.8% | 5.2% | 7.6% | 8.1% | 8.0% | 7.7% |
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 | 0.58 | 0.58 | 0.68 | 0.74 | 0.44 | 0.43 | 0.58 | 0.93 | 1.03 | 0.99 | 1.18 |
| Debt / EBITDA | 5.25 | 5.25 | 6.86 | 6.76 | 3.94 | 4.32 | 8.53 | 8.83 | 8.48 | 9.77 | 9.91 |
| Net Debt / Equity | — | 0.21 | 0.29 | 0.48 | 0.14 | -0.25 | 0.31 | 0.81 | 0.93 | 0.88 | 1.04 |
| Net Debt / EBITDA | 1.90 | 1.90 | 2.97 | 4.38 | 1.26 | -2.49 | 4.46 | 7.67 | 7.61 | 8.69 | 8.70 |
| Debt / FCF | — | 3.78 | 3.68 | 8.66 | 0.70 | -2.70 | 21.06 | 18.58 | 7.41 | 17.42 | 11.46 |
| Interest Coverage | 0.72 | 0.72 | 0.57 | 0.89 | 3.35 | 5.13 | 1.65 | 1.43 | 1.90 | 2.66 | 3.67 |
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 | 1.01 | 1.01 | 0.16 | 0.15 | 0.15 | 0.22 | 0.17 | 0.15 | 0.15 | 0.14 | 0.15 |
| Quick Ratio | 1.01 | 1.01 | 0.16 | 0.15 | 0.15 | 0.22 | 0.17 | 0.15 | 0.15 | 0.14 | 0.15 |
| Cash Ratio | 0.06 | 0.06 | 0.06 | 0.04 | 0.05 | 0.11 | 0.04 | 0.02 | 0.02 | 0.02 | 0.02 |
| Asset Turnover | — | 0.05 | 0.05 | 0.05 | 0.04 | 0.03 | 0.04 | 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 | 2.5% | 2.8% | 3.3% | 3.5% | 3.7% | 4.0% | 5.1% | 3.8% | 4.9% | 3.4% | 3.1% |
| Payout Ratio | 30.8% | 30.8% | 37.6% | 35.9% | 39.0% | 38.5% | 54.9% | 40.6% | 42.1% | 71.9% | 59.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 8.2% | 9.1% | 8.6% | 9.5% | 9.3% | 10.1% | 8.9% | 9.1% | 11.4% | 4.6% | 4.9% |
| FCF Yield | 5.6% | 6.1% | 9.4% | 6.7% | 24.3% | 12.0% | 2.3% | 5.1% | 18.0% | 5.3% | 7.0% |
| Buyback Yield | 0.7% | 0.8% | 0.1% | 0.7% | 0.9% | 1.1% | 1.2% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 3.3% | 3.6% | 3.3% | 4.2% | 4.6% | 5.1% | 6.3% | 3.8% | 4.9% | 3.4% | 3.1% |
| Shares Outstanding | — | $362M | $363M | $363M | $354M | $323M | $325M | $326M | $326M | $304M | $208M |
CRE concentration and deposit betas
According to current market data, FNB trades at a P/B ratio of 1.03, which appears to discount the bank relative to regional peers like WSFS and Commerce Bancshares, suggesting investors remain skeptical of the bank's ability to generate superior long-term returns on tangible equity.
The current valuation multiple implies that the market views FNB as a commodity balance sheet rather than a premium franchise, likely due to its legacy Rust Belt exposure. Investors should monitor whether the ongoing expansion into the North Carolina market can drive a re-rating toward the higher multiples observed in more growth-oriented regional peers.
As reported in recent financial statements, FNB's ROE has hovered near 2.0 percent, a level that appears strained when compared to the double-digit returns generated by peers, indicating that the bank's current DuPont decomposition is hampered by compressed net interest margins and limited asset utilization efficiency.
The bank's profitability is currently constrained by the rising cost of interest-bearing liabilities, which offsets the benefits of loan book growth. The reliance on community banking as the primary revenue engine suggests that without a significant increase in non-interest income contribution, ROE expansion may remain elusive in the near term.
Based on quarterly filings, FNB achieved an efficiency ratio of 39.1 percent in 2026Q1, demonstrating a notable improvement from the 48.6 percent recorded in 2023Q4, which suggests that management is successfully exercising operational discipline to mitigate the impact of a 0.7 percent net interest margin.
While the efficiency ratio trend is positive, the low NIM environment warrants further investigation into the bank's deposit beta sensitivity. The ability to maintain cost control will be critical if the competitive landscape for core deposits continues to force higher funding costs across the Mid-Atlantic footprint.
Investors frequently misapply the P/E ratio to FNB, which obscures the underlying earnings volatility caused by CECL-mandated provision adjustments, making the P/TBV ratio a more reliable metric for assessing the bank's true valuation and capital adequacy in the current economic cycle.
Because P/E ratios are highly sensitive to the timing of credit loss provisions, they often provide a distorted view of core earnings power. Analysts should instead focus on Pre-Provision Net Revenue (PPNR) and P/TBV to better understand the bank's structural profitability and the intrinsic value of its regional franchise.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying FNB stock.
F.N.B. Corporation's current P/E ratio is 12.2x. The historical average is 12.7x. This places it at the 50th percentile of its historical range.
F.N.B. Corporation's current EV/EBITDA is 11.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 14.5x.
F.N.B. Corporation's return on equity (ROE) is 8.7%. The historical average is 9.5%.
Based on historical data, F.N.B. Corporation is trading at a P/E of 12.2x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
F.N.B. Corporation's current dividend yield is 2.53% with a payout ratio of 30.8%.
F.N.B. Corporation has 62.3% gross margin and 24.8% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
F.N.B. Corporation's Debt/EBITDA ratio is 5.2x, indicating high leverage. A ratio above 4x may signal elevated financial risk.