Latest Ratios: P/E Ratio 26.1x · EV/EBITDA 25.6x · ROE 6.4%. (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 | $5.7B | $5.7B | $4.6B | $5.5B | $5.6B | $4.4B | $4.1B | $3.3B | $3.1B | $2.8B |
| Enterprise Value | $9.3B | $8.3B | $8.6B | $7.7B | $8.0B | $6.4B | $4.9B | $4.5B | $4.1B | $3.7B | $3.5B |
| P/E Ratio → | 26.12 | 22.14 | 29.89 | 20.56 | 18.04 | 19.83 | 16.37 | 19.32 | 18.26 | 22.51 | 22.79 |
| P/S Ratio | 4.74 | 4.02 | 4.57 | 4.11 | 5.87 | 6.93 | 5.53 | 6.22 | 5.72 | 6.43 | 6.31 |
| P/B Ratio | 1.61 | 1.36 | 1.76 | 1.52 | 1.93 | 1.77 | 1.89 | 2.07 | 2.19 | 2.55 | 2.48 |
| P/FCF | 19.46 | 16.50 | 27.11 | 10.15 | 12.54 | 10.02 | 24.56 | 19.33 | 12.65 | 12.50 | 14.97 |
| P/OCF | 18.07 | 15.31 | 22.04 | 9.15 | 11.64 | 9.85 | 23.04 | 17.93 | 11.81 | 12.00 | 14.32 |
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 | — | 5.83 | 6.93 | 6.88 | 8.60 | 7.87 | 6.22 | 6.90 | 7.07 | 7.80 | 7.91 |
| EV / EBITDA | 25.59 | 22.76 | 32.21 | 25.17 | 19.74 | 16.77 | 13.69 | 15.76 | 16.76 | 18.70 | 19.37 |
| EV / EBIT | 28.66 | 25.49 | 38.15 | 28.66 | 21.69 | 18.30 | 14.97 | 17.40 | 18.44 | 20.49 | 21.58 |
| EV / FCF | — | 23.91 | 41.15 | 16.99 | 18.38 | 11.37 | 27.62 | 21.46 | 15.63 | 15.16 | 18.77 |
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 | 69.0% | 69.0% | 62.8% | 69.4% | 93.4% | 94.9% | 91.5% | 93.4% | 92.1% | 91.4% | 92.7% |
| Operating Margin | 22.9% | 22.9% | 18.2% | 24.0% | 39.7% | 43.0% | 41.5% | 39.7% | 38.4% | 38.1% | 36.7% |
| Net Profit Margin | 16.8% | 16.8% | 15.3% | 20.0% | 32.5% | 35.0% | 33.7% | 32.2% | 31.4% | 24.5% | 27.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 6.4% | 6.4% | 6.1% | 7.6% | 10.1% | 10.4% | 12.5% | 12.1% | 13.4% | 10.1% | 11.0% |
| ROA | 0.8% | 0.8% | 0.7% | 0.8% | 1.2% | 1.3% | 1.7% | 1.6% | 1.7% | 1.2% | 1.3% |
| ROIC | 3.5% | 3.5% | 2.3% | 3.0% | 5.5% | 6.7% | 7.9% | 7.4% | 7.3% | 6.7% | 6.0% |
| ROCE | 1.7% | 1.7% | 3.9% | 4.7% | 8.6% | 11.1% | 13.0% | 11.4% | 11.2% | 10.8% | 9.7% |
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 | 0.69 | 0.69 | 1.18 | 1.47 | 1.04 | 0.38 | 0.51 | 0.40 | 0.65 | 0.71 | 0.77 |
| Debt / EBITDA | 7.94 | 7.94 | 14.16 | 14.57 | 7.27 | 3.14 | 3.28 | 2.71 | 4.03 | 4.29 | 4.78 |
| Net Debt / Equity | — | 0.61 | 0.91 | 1.02 | 0.90 | 0.24 | 0.24 | 0.23 | 0.52 | 0.54 | 0.63 |
| Net Debt / EBITDA | 7.06 | 7.06 | 10.99 | 10.13 | 6.28 | 1.99 | 1.52 | 1.56 | 3.20 | 3.28 | 3.93 |
| Debt / FCF | — | 7.41 | 14.04 | 6.84 | 5.85 | 1.35 | 3.06 | 2.12 | 2.98 | 2.66 | 3.81 |
| Interest Coverage | 0.80 | 0.80 | 0.52 | 0.82 | 8.97 | 18.83 | 12.01 | 6.06 | 6.25 | 6.06 | 5.43 |
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 | 307.57 | 307.57 | 0.21 | 0.29 | 0.27 | 0.43 | 0.38 | 0.26 | 0.29 | 0.25 | 0.33 |
| Quick Ratio | 307.57 | 307.57 | 0.21 | 0.29 | 0.27 | 0.43 | 0.38 | 0.26 | 0.29 | 0.25 | 0.33 |
| Cash Ratio | 3.94 | 3.94 | 0.04 | 0.06 | 0.02 | 0.02 | 0.04 | 0.03 | 0.02 | 0.03 | 0.02 |
| Asset Turnover | — | 0.04 | 0.04 | 0.04 | 0.04 | 0.03 | 0.04 | 0.05 | 0.05 | 0.05 | 0.05 |
| 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 | 2.4% | 2.8% | 2.6% | 3.2% | 2.9% | 2.6% | 3.0% | 3.1% | 2.6% | 3.7% | 3.0% |
| Payout Ratio | 68.1% | 68.1% | 78.9% | 65.8% | 52.0% | 51.1% | 49.3% | 59.1% | 47.0% | 96.0% | 69.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.8% | 4.5% | 3.3% | 4.9% | 5.5% | 5.0% | 6.1% | 5.2% | 5.5% | 4.4% | 4.4% |
| FCF Yield | 5.1% | 6.1% | 3.7% | 9.9% | 8.0% | 10.0% | 4.1% | 5.2% | 7.9% | 8.0% | 6.7% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 2.4% | 2.8% | 2.7% | 3.2% | 2.9% | 2.6% | 3.0% | 3.1% | 2.6% | 3.7% | 3.0% |
| Shares Outstanding | — | $130M | $113M | $111M | $111M | $99M | $95M | $88M | $84M | $78M | $76M |
CRE concentration and migration
Based on recent market data, GBCI trades at a P/B of 1.61, which significantly exceeds the peer group average, suggesting that investors continue to price the bank as a premium franchise despite the recent compression in return on equity metrics to 1.9% as of 2026Q1.
The persistent premium valuation appears to reflect historical market confidence in the bank's serial acquisition strategy rather than current earnings power. Investors should monitor whether this valuation multiple remains sustainable if the gap between GBCI's return on tangible equity and its cost of capital continues to narrow.
As reported in financial statements, the bank's ROE has trended toward 1.9% in 2026Q1, a level that appears strained when decomposed against a stagnant NIM of 0.8% and an efficiency ratio that has climbed as high as 50.1% in recent quarters.
The decentralized operating model, while historically a source of deposit strength, currently appears to be acting as a drag on profitability by inflating the efficiency ratio. The reliance on interest-spread income leaves the bank vulnerable to further NIM compression if deposit betas remain elevated in the competitive Intermountain West.
According to quarterly filings, GBCI's efficiency ratio has fluctuated between 41.8% and 50.1%, highlighting the inherent cost burden of maintaining a decentralized division model that prioritizes local autonomy over the centralized operational scale typically seen in larger regional banking peers.
The inability to drive the efficiency ratio lower during periods of asset growth suggests that the bank's cost structure is largely fixed and tied to its extensive branch network. This structural overhead may limit the bank's ability to achieve top-tier profitability unless it can significantly improve its non-interest income contribution.
Based on reported figures, GBCI maintained an equity-to-assets ratio of 0.13 as of 2026Q1, indicating a stable capital position that provides a sufficient buffer to support ongoing operations and potential future M&A activity within the Intermountain West region.
While the current capital position appears adequate, the bank's signature acquisition strategy requires constant capital replenishment to maintain these ratios. Investors should monitor whether future regulatory shifts or credit deterioration in the CRE portfolio necessitate a more conservative approach to capital deployment and dividend payouts.
The P/E ratio is frequently misapplied to GBCI, as it obscures the volatility introduced by purchase accounting adjustments and provision for credit losses, which can significantly distort earnings per share and lead to inaccurate assessments of the bank's true underlying profitability.
Analysts should prioritize P/TBV and core ROTCE over P/E to better understand the bank's valuation relative to its tangible capital base. Relying on P/E ignores the impact of non-cash accounting items and the cyclical nature of provisioning, which are critical to evaluating a bank that grows primarily through acquisitions.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying GBCI stock.
Glacier Bancorp, Inc.'s current P/E ratio is 26.1x. The historical average is 19.6x. This places it at the 93th percentile of its historical range.
Glacier Bancorp, Inc.'s current EV/EBITDA is 25.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 21.6x.
Glacier Bancorp, Inc.'s return on equity (ROE) is 6.4%. The historical average is 12.0%.
Based on historical data, Glacier Bancorp, Inc. is trading at a P/E of 26.1x. This is at the 93th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Glacier Bancorp, Inc.'s current dividend yield is 2.41% with a payout ratio of 68.1%.
Glacier Bancorp, Inc. has 69.0% gross margin and 22.9% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Glacier Bancorp, Inc.'s Debt/EBITDA ratio is 7.9x, indicating high leverage. A ratio above 4x may signal elevated financial risk.