Latest Ratios: P/E Ratio 15.9x · EV/EBITDA 18.6x · ROE 8.6%. (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 | $298M | $369M | $194M | $163M | $180M | $203M | $159M | $197M | $182M | $227M | $223M |
| Enterprise Value | $414M | $485M | $283M | $245M | $228M | $197M | $71M | $412M | $449M | $541M | $538M |
| P/E Ratio → | 15.87 | 19.53 | 13.97 | 8.96 | 8.08 | 10.41 | 14.60 | 15.10 | 12.97 | 17.12 | 16.10 |
| P/S Ratio | 2.66 | 3.29 | 1.91 | 1.79 | 2.35 | 2.85 | 2.09 | 2.58 | 2.51 | 3.37 | 3.58 |
| P/B Ratio | 1.30 | 1.59 | 0.92 | 0.80 | 0.97 | 0.96 | 0.73 | 0.94 | 0.93 | 1.16 | 1.19 |
| P/FCF | 12.76 | 15.81 | 11.09 | 8.10 | 7.57 | 8.50 | 7.75 | 8.96 | 9.26 | 12.87 | 13.55 |
| P/OCF | 11.10 | 13.76 | 9.90 | 6.73 | 6.67 | 7.97 | 7.21 | 8.44 | 8.29 | 11.54 | 11.01 |
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 | — | 4.33 | 2.78 | 2.70 | 2.98 | 2.77 | 0.93 | 5.40 | 6.19 | 8.03 | 8.65 |
| EV / EBITDA | 18.59 | 21.79 | 15.31 | 10.30 | 7.88 | 7.50 | 4.70 | 23.30 | 24.09 | 27.58 | 27.53 |
| EV / EBIT | 18.72 | 21.93 | 17.25 | 11.24 | 8.49 | 8.44 | 5.96 | 28.62 | 29.18 | 33.29 | 33.29 |
| EV / FCF | — | 20.80 | 16.14 | 12.19 | 9.60 | 8.25 | 3.45 | 18.76 | 22.84 | 30.69 | 32.71 |
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 | 70.6% | 70.6% | 64.6% | 75.4% | 92.4% | 90.3% | 79.6% | 76.6% | 77.1% | 81.1% | 82.7% |
| Operating Margin | 19.8% | 19.8% | 16.1% | 24.1% | 35.1% | 32.8% | 15.7% | 18.9% | 21.2% | 24.1% | 26.0% |
| Net Profit Margin | 16.9% | 16.9% | 13.7% | 20.0% | 29.0% | 27.4% | 14.4% | 17.1% | 19.3% | 19.7% | 22.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 8.6% | 8.6% | 6.7% | 9.3% | 11.2% | 9.1% | 5.1% | 6.4% | 7.2% | 6.9% | 7.4% |
| ROA | 0.9% | 0.9% | 0.7% | 0.9% | 1.1% | 1.0% | 0.6% | 0.7% | 0.8% | 0.7% | 0.8% |
| ROIC | 4.8% | 4.8% | 3.8% | 5.5% | 6.9% | 5.1% | 2.1% | 2.1% | 2.1% | 2.3% | 2.4% |
| ROCE | 7.3% | 7.3% | 5.7% | 8.7% | 11.3% | 8.2% | 3.1% | 3.0% | 3.2% | 3.5% | 3.8% |
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 | 0.54 | 0.57 | 0.47 | 0.47 | 0.73 | 1.31 | 1.74 | 1.77 | 1.80 |
| Debt / EBITDA | 6.40 | 6.40 | 6.11 | 4.88 | 3.01 | 3.78 | 10.55 | 15.60 | 18.26 | 17.58 | 17.30 |
| Net Debt / Equity | — | 0.50 | 0.42 | 0.41 | 0.26 | -0.03 | -0.40 | 1.02 | 1.36 | 1.61 | 1.68 |
| Net Debt / EBITDA | 5.23 | 5.23 | 4.79 | 3.46 | 1.66 | -0.23 | -5.84 | 12.18 | 14.32 | 16.01 | 16.12 |
| Debt / FCF | — | 4.99 | 5.05 | 4.10 | 2.03 | -0.25 | -4.29 | 9.81 | 13.57 | 17.81 | 19.15 |
| Interest Coverage | 0.66 | 0.66 | 0.48 | 1.01 | 5.05 | 3.15 | 0.86 | 0.81 | 0.98 | 1.30 | 1.49 |
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 | 0.12 | 0.12 | 0.14 | 0.34 | 0.36 | 0.35 | 0.37 | 0.37 | 0.43 | 0.44 | 0.46 |
| Quick Ratio | 0.12 | 0.12 | 0.14 | 0.34 | 0.36 | 0.35 | 0.37 | 0.37 | 0.43 | 0.44 | 0.46 |
| Cash Ratio | 0.01 | 0.01 | 0.01 | 0.02 | 0.02 | 0.06 | 0.15 | 0.04 | 0.05 | 0.02 | 0.02 |
| Asset Turnover | — | 0.05 | 0.05 | 0.04 | 0.04 | 0.04 | 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 | 2.7% | 2.2% | 4.2% | 5.0% | 4.5% | 4.1% | 5.4% | 4.2% | 4.5% | 3.5% | 3.4% |
| Payout Ratio | 42.8% | 42.8% | 58.7% | 45.2% | 36.3% | 42.9% | 78.3% | 63.6% | 58.3% | 60.4% | 55.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.3% | 5.1% | 7.2% | 11.2% | 12.4% | 9.6% | 6.8% | 6.6% | 7.7% | 5.8% | 6.2% |
| FCF Yield | 7.8% | 6.3% | 9.0% | 12.4% | 13.2% | 11.8% | 12.9% | 11.2% | 10.8% | 7.8% | 7.4% |
| Buyback Yield | 1.6% | 1.3% | 2.3% | 3.1% | 1.3% | 7.4% | 2.7% | 2.6% | 4.1% | 2.5% | 2.2% |
| Total Shareholder Yield | 4.3% | 3.5% | 6.5% | 8.1% | 5.8% | 11.5% | 8.1% | 6.8% | 8.6% | 6.0% | 5.6% |
| Shares Outstanding | — | $7M | $7M | $8M | $8M | $8M | $8M | $8M | $8M | $8M | $8M |
Geographic and Liquidity Concentration
According to recent market data, ISBA trades at a P/B of 1.28, which, when compared to the broader peer group, suggests that investors are pricing the bank as a commodity balance sheet rather than a premium franchise with unique agricultural and trust-based competitive advantages.
The current P/B multiple appears to reflect a liquidity discount stemming from the bank's limited trading volume and geographic concentration in Central Michigan. This valuation implies that the market remains skeptical of the bank's ability to generate superior returns on tangible equity, likely due to the persistent stagnation in its net interest margin.
As reported in quarterly financial statements, ISBA's ROE has remained consistently low, hovering near 2.0%, which indicates that the bank's profitability is currently constrained by a narrow net interest margin and an inability to leverage its asset base effectively in the current rate environment.
The decomposition of profitability suggests that the bank's reliance on a traditional branch-heavy model is creating significant drag on overall returns. Investors should monitor whether the trust and wealth management segment can scale sufficiently to offset the cyclical volatility inherent in the bank's core commercial and agricultural lending operations.
Based on the provided ten-quarter data, ISBA's efficiency ratio has fluctuated between 46.4% and 56.0%, signaling that management faces ongoing challenges in controlling fixed overhead costs while simultaneously navigating the competitive pressures of the local deposit market in its seven-county Michigan footprint.
The lack of a clear downward trend in the efficiency ratio suggests that the bank's operating leverage is currently muted. This may indicate that the costs associated with maintaining a physical branch network are rising faster than the revenue generated from its specialized agricultural and commercial loan portfolios.
As evidenced by the consistent equity-to-assets ratio of 0.10, ISBA maintains a stable but rigid capital structure that appears designed to prioritize regulatory compliance over aggressive capital deployment, potentially limiting the bank's capacity to absorb localized economic shocks without impacting its dividend policy.
While the current capital position appears adequate for regulatory purposes, the lack of a larger buffer may leave the bank vulnerable to unexpected deposit outflows. The bank's commitment to a consistent dividend, despite thin liquidity, warrants further investigation into its long-term capital allocation strategy.
The P/E ratio is frequently misapplied to ISBA, as it obscures the volatility caused by periodic adjustments to the provision for credit losses, which management may use to smooth earnings rather than reflecting the true underlying risk profile of the agricultural loan portfolio.
Investors should prioritize P/TBV over P/E to better assess the bank's economic capital position, especially given the potential for unrealized losses in the securities portfolio to impact tangible book value. Relying on P/E ignores the significant impact that non-cash accounting estimates have on the bank's reported bottom line.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying ISBA stock.
Isabella Bank Corporation's current P/E ratio is 15.9x. The historical average is 18.5x. This places it at the 60th percentile of its historical range.
Isabella Bank Corporation's current EV/EBITDA is 18.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 22.6x.
Isabella Bank Corporation's return on equity (ROE) is 8.6%. The historical average is 8.6%.
Based on historical data, Isabella Bank Corporation is trading at a P/E of 15.9x. This is at the 60th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Isabella Bank Corporation's current dividend yield is 2.70% with a payout ratio of 42.8%.
Isabella Bank Corporation has 70.6% gross margin and 19.8% operating margin. Operating margin between 10-20% is typical for established companies.
Isabella Bank Corporation's Debt/EBITDA ratio is 6.4x, indicating high leverage. A ratio above 4x may signal elevated financial risk.