Latest Ratios: P/E Ratio 6.4x · EV/EBITDA 6.3x · ROE 15.6%. (2004–2025 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 | $396M | $343M | $288M | $313M | $292M | $370M | $295M | $398M | $321M | $300M | $203M |
| Enterprise Value | $514M | $462M | $352M | $396M | $647M | $51M | $338M | $565M | $532M | $684M | $251M |
| P/E Ratio → | 6.42 | 5.59 | — | — | 20.79 | 11.94 | 12.61 | 12.02 | 9.51 | 123.31 | 19.69 |
| P/S Ratio | 1.27 | 1.10 | 1.13 | 1.31 | 2.06 | 2.99 | 2.25 | 3.05 | 2.52 | 3.38 | 4.01 |
| P/B Ratio | 0.93 | 0.81 | 0.79 | 0.79 | 0.75 | 0.90 | 0.76 | 1.05 | 0.92 | 0.93 | 1.61 |
| P/FCF | 43.82 | 38.01 | 15.70 | 11.62 | 25.59 | 14.88 | 11.75 | 11.15 | 8.13 | 12.93 | 11.35 |
| P/OCF | 36.77 | 31.89 | 14.74 | 10.84 | 23.51 | 13.55 | 11.26 | 10.82 | 7.74 | 12.18 | 11.26 |
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 | — | 1.48 | 1.38 | 1.66 | 4.57 | 0.41 | 2.58 | 4.34 | 4.17 | 7.72 | 4.95 |
| EV / EBITDA | 6.28 | 5.64 | — | — | 26.12 | 1.08 | 12.58 | 12.23 | 10.49 | 33.84 | 15.29 |
| EV / EBIT | 7.09 | 6.37 | — | — | 37.33 | 1.30 | 18.09 | 14.86 | 12.28 | 43.89 | 16.27 |
| EV / FCF | — | 51.14 | 19.19 | 14.71 | 56.64 | 2.06 | 13.48 | 15.86 | 13.47 | 29.51 | 14.02 |
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 | 67.6% | 67.6% | 38.1% | 46.8% | 76.8% | 89.3% | 65.3% | 72.6% | 76.9% | 73.4% | 73.3% |
| Operating Margin | 23.2% | 23.2% | -11.4% | -4.7% | 12.2% | 32.0% | 14.2% | 29.2% | 34.0% | 17.6% | 30.4% |
| Net Profit Margin | 19.7% | 19.7% | -6.4% | -3.3% | 10.0% | 25.2% | 17.5% | 25.4% | 26.4% | 2.7% | 20.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 15.6% | 15.6% | -4.3% | -2.0% | 3.5% | 7.8% | 6.0% | 9.1% | 10.0% | 1.1% | 8.4% |
| ROA | 1.6% | 1.6% | -0.4% | -0.2% | 0.4% | 1.0% | 0.8% | 1.2% | 1.3% | 0.1% | 0.9% |
| ROIC | 9.2% | 9.2% | -4.1% | -1.2% | 1.8% | 4.7% | 2.3% | 4.9% | 4.9% | 2.5% | 5.4% |
| ROCE | 6.1% | 6.1% | -5.3% | -1.6% | 2.4% | 6.2% | 3.4% | 8.6% | 10.6% | 5.8% | 11.2% |
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 | 0.62 | 0.62 | 0.35 | 0.40 | 1.11 | 0.51 | 0.61 | 0.53 | 0.69 | 1.26 | 0.75 |
| Debt / EBITDA | 3.20 | 3.20 | — | — | 17.46 | 4.44 | 8.90 | 4.32 | 4.71 | 20.19 | 5.80 |
| Net Debt / Equity | — | 0.28 | 0.18 | 0.21 | 0.91 | -0.77 | 0.11 | 0.44 | 0.61 | 1.19 | 0.38 |
| Net Debt / EBITDA | 1.45 | 1.45 | — | — | 14.32 | -6.69 | 1.61 | 3.63 | 4.16 | 19.01 | 2.91 |
| Debt / FCF | — | 13.13 | 3.49 | 3.09 | 31.05 | -12.82 | 1.73 | 4.70 | 5.34 | 16.58 | 2.66 |
| Interest Coverage | 0.82 | 0.82 | -0.27 | -0.12 | 0.80 | 2.08 | 0.72 | 1.03 | 1.56 | 0.99 | 1.78 |
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 | 0.07 | 0.07 | 0.08 | 0.09 | 0.12 | 0.29 | 0.15 | 0.09 | 0.08 | 0.08 | 0.05 |
| Quick Ratio | 0.07 | 0.07 | 0.08 | 0.09 | 0.12 | 0.29 | 0.15 | 0.09 | 0.08 | 0.08 | 0.05 |
| Cash Ratio | 0.07 | 0.07 | 0.02 | 0.02 | 0.03 | 0.19 | 0.08 | 0.01 | 0.01 | 0.01 | 0.05 |
| Asset Turnover | — | 0.08 | 0.07 | 0.06 | 0.04 | 0.04 | 0.04 | 0.05 | 0.05 | 0.03 | 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% | 2.9% | 3.4% | 3.2% | 3.4% | 2.7% | 3.3% | 2.2% | 2.4% | 1.9% | 1.9% |
| Payout Ratio | 16.1% | 16.1% | — | — | 69.6% | 31.5% | 42.4% | 26.2% | 22.8% | 239.1% | 38.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 15.6% | 17.9% | — | — | 4.8% | 8.4% | 7.9% | 8.3% | 10.5% | 0.8% | 5.1% |
| FCF Yield | 2.3% | 2.6% | 6.4% | 8.6% | 3.9% | 6.7% | 8.5% | 9.0% | 12.3% | 7.7% | 8.8% |
| Buyback Yield | 0.2% | 0.2% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 2.7% | 3.1% | 3.4% | 3.2% | 3.4% | 2.7% | 3.3% | 2.2% | 2.4% | 1.9% | 1.9% |
| Shares Outstanding | — | $25M | $25M | $25M | $25M | $25M | $24M | $24M | $24M | $19M | $12M |
Specialized asset concentration risk
According to recent market data, FRST trades at a P/B of 0.97, which, based on reported figures, suggests the market is pricing the bank at a discount to book value due to persistent concerns regarding the sustainability of its specialized lending-driven return on tangible equity.
The current valuation multiple appears to reflect a market skepticism toward the bank's ability to generate consistent, high-quality earnings from its niche lending platforms. Investors should monitor whether the discount to book value narrows as the bank demonstrates a more stable path toward improved profitability metrics.
As reported in financial statements, the bank's ROE has fluctuated between -6.1% and 7.3% over the last ten quarters, indicating that the core profitability drivers—specifically NIM and asset utilization—are currently struggling to overcome the volatility inherent in the bank's specialized fee-based revenue streams.
The decomposition of ROE suggests that the bank's reliance on transactional fee income creates significant earnings swings that mask the underlying performance of the interest-earning assets. This volatility warrants further investigation into whether the current business model can achieve a stable, double-digit ROE without excessive reliance on non-recurring items.
Based on the provided quarterly data, the efficiency ratio has remained elevated, peaking at 58.4% in 2024Q4, which suggests that the costs associated with maintaining a dual-channel digital and physical delivery model are currently offsetting the benefits of the bank's specialized, higher-yield lending niches.
The stagnant NIM, hovering between 0.6% and 0.8%, indicates that the bank's funding costs are effectively neutralizing the yield advantages of its specialized loan book. Management's ability to control operating expenses while scaling the digital platform appears to be the primary constraint on achieving meaningful margin expansion.
According to recent regulatory filings, the bank maintains a consistent equity-to-assets ratio of 0.10, which, based on reported figures, provides a relatively thin capital buffer that may limit the institution's capacity for aggressive growth or significant capital return in the event of credit stress.
The stability of the equity-to-assets ratio suggests a disciplined approach to capital management, yet the inherent volatility of the specialized loan book may require a larger cushion than what is currently maintained. Investors should monitor whether this capital level remains sufficient to support the bank's growth trajectory during periods of economic contraction.
The most commonly misapplied metric for FRST is the P/E ratio, which, as reported in financial statements, is frequently distorted by lumpy provision expenses and non-recurring items that obscure the bank's true core earnings power and long-term franchise value.
Relying on P/E ratios for a bank with volatile provisioning and transactional fee income can lead to misleading conclusions about valuation. Analysts should instead prioritize P/TBV and normalized ROE to better assess the bank's underlying profitability and the market's valuation of its tangible capital base.
Includes 30+ ratios · 22 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying FRST stock.
Primis Financial Corp.'s current P/E ratio is 6.4x. The historical average is 27.2x. This places it at the 6th percentile of its historical range.
Primis Financial Corp.'s current EV/EBITDA is 6.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 21.5x.
Primis Financial Corp.'s return on equity (ROE) is 15.6%. The historical average is 3.9%.
Based on historical data, Primis Financial Corp. is trading at a P/E of 6.4x. This is at the 6th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Primis Financial Corp.'s current dividend yield is 2.50% with a payout ratio of 16.1%.
Primis Financial Corp. has 67.6% gross margin and 23.2% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Primis Financial Corp.'s Debt/EBITDA ratio is 3.2x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.