Latest Ratios: P/E Ratio 9.4x · EV/EBITDA 6.1x · ROE 21.8%. (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 | $603M | $600M | $435M | $324M | $318M | $272M | $218M | $261M | $230M | $236M | $220M |
| Enterprise Value | $545M | $541M | $413M | $238M | $93M | $-338337480 | $140M | $199M | $204M | $204M | $220M |
| P/E Ratio → | 9.45 | 9.27 | 11.74 | 12.74 | 10.35 | 7.25 | 6.65 | 12.59 | 11.46 | 18.00 | 15.34 |
| P/S Ratio | 2.49 | 2.47 | 2.22 | 2.05 | 2.37 | 1.99 | 1.56 | 2.43 | 2.38 | 2.46 | 2.16 |
| P/B Ratio | 1.87 | 1.84 | 1.63 | 1.38 | 1.45 | 1.14 | 0.99 | 1.26 | 1.11 | 1.22 | 1.18 |
| P/FCF | 4.50 | 4.48 | — | 9.93 | 4.28 | 2.48 | — | — | 10.87 | 19.60 | 13.10 |
| P/OCF | 4.33 | 4.30 | — | 8.32 | 4.07 | 2.43 | — | — | 9.13 | 12.25 | 10.95 |
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 | — | 2.23 | 2.11 | 1.51 | 0.69 | -2.47 | 1.00 | 1.85 | 2.12 | 2.12 | 2.16 |
| EV / EBITDA | 6.13 | 6.10 | 8.17 | 6.83 | 2.23 | -6.45 | 2.99 | 6.58 | 7.46 | 7.42 | 9.27 |
| EV / EBIT | 6.32 | 6.28 | 8.80 | 7.54 | 2.41 | -7.05 | 3.30 | 7.60 | 8.47 | 8.56 | 10.47 |
| EV / FCF | — | 4.04 | — | 7.31 | 1.25 | -3.09 | — | — | 9.65 | 16.91 | 13.09 |
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 | 81.4% | 81.4% | 77.5% | 79.4% | 94.7% | 100.2% | 93.9% | 95.8% | 97.4% | 94.1% | 95.2% |
| Operating Margin | 35.5% | 35.5% | 24.0% | 20.0% | 28.6% | 35.1% | 30.3% | 24.3% | 25.0% | 24.8% | 20.6% |
| Net Profit Margin | 26.6% | 26.6% | 18.9% | 16.0% | 22.9% | 27.4% | 23.5% | 19.3% | 20.8% | 13.7% | 14.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 21.8% | 21.8% | 14.7% | 11.2% | 13.5% | 16.3% | 15.3% | 10.0% | 10.0% | 6.9% | 7.9% |
| ROA | 2.0% | 2.0% | 1.3% | 0.9% | 1.1% | 1.5% | 1.7% | 1.3% | 1.3% | 0.9% | 1.0% |
| ROIC | 17.9% | 17.9% | 12.2% | 9.1% | 11.0% | 13.5% | 12.7% | 7.9% | 7.3% | 7.5% | 6.8% |
| ROCE | 20.5% | 20.5% | 13.7% | 10.4% | 13.0% | 16.0% | 14.9% | 10.2% | 10.2% | 10.3% | 9.2% |
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 | 0.27 | 0.27 | 0.15 | 0.14 | 0.16 | 0.15 | 0.17 | 0.16 | 0.25 | 0.24 | 0.27 |
| Debt / EBITDA | 0.99 | 0.99 | 0.81 | 0.95 | 0.82 | 0.68 | 0.80 | 1.11 | 1.90 | 1.66 | 2.12 |
| Net Debt / Equity | — | -0.18 | -0.08 | -0.36 | -1.03 | -2.57 | -0.35 | -0.30 | -0.12 | -0.17 | -0.00 |
| Net Debt / EBITDA | -0.66 | -0.66 | -0.43 | -2.45 | -5.40 | -11.63 | -1.68 | -2.05 | -0.94 | -1.18 | -0.00 |
| Debt / FCF | — | -0.44 | — | -2.62 | -3.03 | -5.57 | — | — | -1.22 | -2.69 | -0.00 |
| Interest Coverage | 2.01 | 2.01 | 1.15 | 1.10 | 7.38 | 12.70 | 7.01 | 4.63 | 8.11 | 9.79 | 8.22 |
Net cash position: cash ($146M) exceeds total debt ($88M)
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 | 0.13 | 0.13 | 0.24 | 0.33 | 0.41 | 0.45 | 0.21 | 0.29 | 0.30 | 0.33 | 0.31 |
| Quick Ratio | 0.13 | 0.13 | 0.24 | 0.33 | 0.41 | 0.45 | 0.21 | 0.29 | 0.30 | 0.33 | 0.31 |
| Cash Ratio | 0.05 | 0.05 | 0.02 | 0.05 | 0.11 | 0.27 | 0.06 | 0.07 | 0.06 | 0.06 | 0.04 |
| Asset Turnover | — | 0.07 | 0.06 | 0.06 | 0.05 | 0.05 | 0.07 | 0.07 | 0.06 | 0.06 | 0.07 |
| 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% | 2.4% | 3.2% | 4.2% | 3.3% | 3.5% | 4.0% | 3.3% | 3.1% | 2.5% | 2.4% |
| Payout Ratio | 22.5% | 22.5% | 37.2% | 53.6% | 34.4% | 25.0% | 26.9% | 41.1% | 35.3% | 45.4% | 37.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 10.6% | 10.8% | 8.5% | 7.8% | 9.7% | 13.8% | 15.0% | 7.9% | 8.7% | 5.6% | 6.5% |
| FCF Yield | 22.2% | 22.3% | — | 10.1% | 23.4% | 40.3% | — | — | 9.2% | 5.1% | 7.6% |
| Buyback Yield | 0.0% | 0.0% | 0.2% | 2.8% | 4.5% | 4.2% | 4.6% | 4.8% | 0.2% | 0.7% | 0.0% |
| Total Shareholder Yield | 2.4% | 2.4% | 3.3% | 7.0% | 7.8% | 7.7% | 8.6% | 8.1% | 3.3% | 3.2% | 2.4% |
| Shares Outstanding | — | $23M | $22M | $23M | $23M | $25M | $26M | $27M | $28M | $28M | $28M |
Alaskan economic concentration
Based on reported figures, Northrim trades at a P/B multiple of 1.93, which significantly exceeds the peer group average, suggesting that investors are pricing in a premium for the bank's dominant, isolated market position within the Alaskan economy rather than viewing it as a commodity balance sheet.
The elevated P/B ratio implies that the market expects superior long-term ROTCE compared to Lower 48 regional peers. This valuation premium appears to be a direct reflection of the bank's ability to maintain pricing power in a geographically protected market, though it leaves little room for error should local economic conditions deteriorate.
As reported in financial statements, Northrim's ROE reached 4.1% in 2026Q1, a performance driven by a disciplined efficiency ratio of 51.2% and a conservative equity-to-assets ratio of 0.10, which indicates that the bank is effectively utilizing its capital base to generate consistent returns despite regional volatility.
The decomposition of profitability suggests that Northrim's earnings quality is supported by a lean cost structure that allows for margin expansion during periods of loan growth. Investors should monitor whether the current ROE levels are sustainable as the bank navigates the cyclical nature of Alaska's resource-dependent commercial lending environment.
According to recent SEC filings, Northrim maintained a net interest margin of 1.0% in 2026Q1, while simultaneously achieving an efficiency ratio of 51.2%, demonstrating a strong ability to control operating costs even as the bank scales its loan portfolio within the unique Alaskan market landscape.
The bank's ability to maintain a stable NIM while managing a high fixed-cost base suggests that its deposit franchise remains highly resilient to competitive pressures. This operational efficiency appears to be a key differentiator, allowing the bank to preserve profitability even when mortgage-related fee income faces cyclical headwinds.
Based on regulatory filings, Northrim's equity-to-assets ratio of 0.10 in 2026Q1 underscores a fortress-like balance sheet, which provides the institution with significant capacity to absorb potential credit losses while maintaining its commitment to consistent dividend distributions for shareholders in the current interest rate environment.
This conservative capital posture serves as a critical buffer against the inherent risks of the bank's geographic concentration in Alaska. While this approach may limit the potential for aggressive balance sheet expansion, it appears to be a prudent strategy given the sensitivity of the local economy to energy price fluctuations.
As disclosed in financial statements, the P/E ratio of 9.74 is frequently misapplied to Northrim, as it fails to account for the volatility inherent in mortgage servicing rights valuations and the impact of CECL-driven provision adjustments on quarterly earnings, which can obscure the bank's true underlying profitability.
Investors should prioritize P/TBV and P/B multiples over P/E, as the latter is overly sensitive to non-cash accounting adjustments that do not reflect the bank's core earnings power. Relying on P/E may lead to an inaccurate assessment of the bank's valuation relative to its long-term franchise value.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying NRIM stock.
Northrim BanCorp, Inc.'s current P/E ratio is 9.4x. The historical average is 12.5x. This places it at the 10th percentile of its historical range.
Northrim BanCorp, Inc.'s current EV/EBITDA is 6.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 5.6x.
Northrim BanCorp, Inc.'s return on equity (ROE) is 21.8%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 11.9%.
Based on historical data, Northrim BanCorp, Inc. is trading at a P/E of 9.4x. This is at the 10th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Northrim BanCorp, Inc.'s current dividend yield is 2.38% with a payout ratio of 22.5%.
Northrim BanCorp, Inc. has 81.4% gross margin and 35.5% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Northrim BanCorp, Inc.'s Debt/EBITDA ratio is 1.0x, indicating low leverage. A ratio below 2x is generally considered financially healthy.