Latest Ratios: P/E Ratio 12.9x · EV/EBITDA 15.4x · ROE 10.0%. (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 | $36.3B | $26.1B | $24.0B | $18.7B | $20.7B | $19.8B | $13.0B | $15.9B | $12.5B | $16.5B | $12.1B |
| Enterprise Value | $53.0B | $42.8B | $27.3B | $21.4B | $25.5B | $21.4B | $14.9B | $27.1B | $20.4B | $29.2B | $22.7B |
| P/E Ratio → | 12.87 | 12.48 | 13.34 | 10.26 | 9.72 | 17.13 | 18.30 | 11.87 | 9.93 | 14.56 | 19.73 |
| P/S Ratio | 2.90 | 2.09 | 2.01 | 1.73 | 2.60 | 3.26 | 2.49 | 2.82 | 2.37 | 3.49 | 3.21 |
| P/B Ratio | 1.10 | 1.07 | 1.21 | 0.96 | 1.16 | 1.03 | 1.00 | 1.35 | 1.12 | 1.53 | 1.18 |
| P/FCF | 15.92 | 11.46 | 14.37 | 7.42 | 5.42 | 10.93 | 10.83 | 10.86 | 7.72 | 9.40 | 11.09 |
| P/OCF | 14.25 | 10.26 | 13.24 | 7.03 | 5.13 | 9.62 | 9.86 | 10.12 | 7.23 | 8.47 | 10.00 |
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 | — | 3.43 | 2.28 | 1.98 | 3.20 | 3.51 | 2.84 | 4.79 | 3.87 | 6.17 | 6.01 |
| EV / EBITDA | 15.35 | 12.41 | 9.01 | 6.71 | 7.84 | 10.78 | 11.10 | 13.26 | 9.62 | 16.18 | 17.47 |
| EV / EBIT | 19.70 | 15.93 | 11.35 | 8.96 | 9.21 | 13.43 | 15.29 | 16.34 | 12.53 | 20.97 | 24.68 |
| EV / FCF | — | 18.79 | 16.31 | 8.49 | 6.68 | 11.77 | 12.35 | 18.48 | 12.62 | 16.61 | 20.74 |
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 | 61.7% | 61.7% | 58.2% | 64.0% | 87.6% | 98.1% | 71.9% | 77.5% | 81.1% | 86.7% | 88.0% |
| Operating Margin | 21.5% | 21.5% | 20.1% | 22.1% | 34.8% | 26.2% | 18.6% | 29.3% | 30.9% | 29.4% | 24.3% |
| Net Profit Margin | 17.7% | 17.7% | 16.2% | 18.1% | 28.2% | 21.3% | 15.6% | 25.0% | 26.4% | 25.0% | 18.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 10.0% | 10.0% | 9.9% | 10.5% | 12.1% | 8.0% | 6.6% | 12.3% | 12.7% | 11.2% | 8.4% |
| ROA | 1.0% | 1.0% | 1.0% | 1.0% | 1.3% | 0.9% | 0.7% | 1.3% | 1.3% | 1.2% | 0.8% |
| ROIC | 5.1% | 5.1% | 5.2% | 5.8% | 7.4% | 4.9% | 3.2% | 5.4% | 5.2% | 4.4% | 3.8% |
| ROCE | 4.5% | 4.5% | 6.1% | 6.8% | 8.7% | 5.9% | 4.1% | 7.2% | 7.8% | 7.2% | 5.7% |
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 | 0.76 | 0.76 | 0.84 | 0.67 | 0.66 | 0.39 | 0.66 | 1.06 | 0.96 | 1.32 | 1.16 |
| Debt / EBITDA | 5.36 | 5.36 | 5.48 | 4.09 | 3.61 | 3.75 | 6.37 | 6.09 | 5.02 | 7.89 | 9.23 |
| Net Debt / Equity | — | 0.68 | 0.16 | 0.14 | 0.27 | 0.08 | 0.14 | 0.95 | 0.71 | 1.17 | 1.02 |
| Net Debt / EBITDA | 4.84 | 4.84 | 1.07 | 0.85 | 1.48 | 0.77 | 1.36 | 5.47 | 3.73 | 7.03 | 8.12 |
| Debt / FCF | — | 7.33 | 1.94 | 1.07 | 1.26 | 0.84 | 1.51 | 7.62 | 4.90 | 7.21 | 9.64 |
| Interest Coverage | 0.62 | 0.62 | 0.53 | 0.69 | 3.97 | 17.88 | 2.30 | 1.68 | 2.14 | 3.23 | 3.50 |
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 | 0.19 | 0.19 | 0.15 | 0.14 | 0.09 | 0.09 | 0.09 | 0.02 | 0.03 | 0.22 | 0.05 |
| Quick Ratio | 0.19 | 0.19 | 0.15 | 0.14 | 0.09 | 0.09 | 0.09 | 0.02 | 0.03 | 0.22 | 0.05 |
| Cash Ratio | 0.01 | 0.01 | 0.08 | 0.07 | 0.05 | 0.04 | 0.07 | 0.01 | 0.03 | 0.02 | 0.02 |
| Asset Turnover | — | 0.06 | 0.06 | 0.06 | 0.04 | 0.03 | 0.04 | 0.05 | 0.05 | 0.05 | 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 | 3.4% | 3.5% | 3.8% | 4.8% | 4.3% | 3.8% | 4.7% | 3.7% | 4.1% | 2.1% | 2.0% |
| Payout Ratio | 41.1% | 41.1% | 46.5% | 46.1% | 40.1% | 57.9% | 75.2% | 42.3% | 36.9% | 29.4% | 34.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 7.8% | 8.0% | 7.5% | 9.7% | 10.3% | 5.8% | 5.5% | 8.4% | 10.1% | 6.9% | 5.1% |
| FCF Yield | 6.3% | 8.7% | 7.0% | 13.5% | 18.5% | 9.1% | 9.2% | 9.2% | 13.0% | 10.6% | 9.0% |
| Buyback Yield | 0.0% | 0.0% | 1.7% | 0.4% | 0.0% | 6.8% | 0.7% | 2.8% | 7.5% | 1.6% | 22.8% |
| Total Shareholder Yield | 3.4% | 3.5% | 5.5% | 5.3% | 4.3% | 10.6% | 5.4% | 6.5% | 11.6% | 3.7% | 24.8% |
| Shares Outstanding | — | $1.5B | $1.5B | $1.5B | $1.5B | $1.3B | $1.0B | $1.1B | $1.0B | $1.1B | $919M |
Vehicle finance credit deterioration
With a P/B ratio of 1.10, Huntington Bancshares is currently priced at a discount relative to peers like Fifth Third Bancorp, suggesting that investors remain cautious about the bank's ability to generate superior returns on tangible equity given its significant exposure to cyclical vehicle finance portfolios.
The current valuation multiple indicates that the market views Huntington as a commodity balance sheet rather than a premium franchise, likely due to the volatility in its indirect auto lending segment. Investors should monitor whether the bank can improve its ROTCE profile to justify a higher multiple, as the current P/B suggests limited upside unless the bank demonstrates sustained margin expansion.
As reported in recent financial statements, the bank's ROE has remained constrained within a 1.8% to 2.9% range over the last ten quarters, reflecting a challenging profitability environment where NIM compression and rising operational costs have offset the benefits of the bank's expanded asset base.
The DuPont decomposition suggests that profitability is currently strained by a combination of elevated efficiency ratios and a reliance on transactional fee income. The bank's ability to drive higher ROE will depend on its success in shifting the loan mix toward higher-yielding commercial segments while maintaining its low-cost deposit advantage.
Based on quarterly data, the efficiency ratio climbed to 47.1% in 2026Q1, a notable increase from the sub-40% levels observed throughout 2025, which may indicate that the bank's operational leverage is currently being pressured by rising technology investments and wage inflation across its branch network.
The upward trend in the efficiency ratio suggests that the bank is struggling to maintain cost discipline as it scales its operations. Investors should monitor whether this is a temporary spike related to digital transformation or a structural shift that could permanently impair the bank's operating margin.
According to the provided ten-quarter series, the equity-to-assets ratio has remained remarkably stable at approximately 0.11, indicating that Huntington has successfully maintained a consistent capital cushion despite the significant expansion of its total asset volume from $189.4 billion to $285.4 billion during this period.
This stability in the capital ratio suggests that the bank is managing its balance sheet growth in a disciplined manner, ensuring that capital adequacy remains sufficient to support ongoing lending activities. However, the bank's high dividend payout ratio may limit its flexibility to absorb unexpected credit losses without impacting its capital position.
The P/E ratio is frequently misapplied to Huntington Bancshares, as it fails to account for the significant optical volatility introduced by purchase accounting accretion and fluctuating provision expenses, which can distort earnings and obscure the underlying health of the bank's core interest-earning franchise.
Analysts should prioritize P/TBV and ROTCE over P/E, as these metrics provide a more accurate reflection of the bank's capital efficiency and franchise value. Relying on P/E may lead to incorrect conclusions about the bank's valuation, particularly during periods of credit cycle normalization where provision swings are common.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying HBAN stock.
Huntington Bancshares Incorporated's current P/E ratio is 12.9x. The historical average is 17.0x. This places it at the 32th percentile of its historical range.
Huntington Bancshares Incorporated's current EV/EBITDA is 15.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 15.4x.
Huntington Bancshares Incorporated's return on equity (ROE) is 10.0%. The historical average is 9.3%.
Based on historical data, Huntington Bancshares Incorporated is trading at a P/E of 12.9x. This is at the 32th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Huntington Bancshares Incorporated's current dividend yield is 3.37% with a payout ratio of 41.1%.
Huntington Bancshares Incorporated has 61.7% gross margin and 21.5% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Huntington Bancshares Incorporated's Debt/EBITDA ratio is 5.4x, indicating high leverage. A ratio above 4x may signal elevated financial risk.