Latest Ratios: P/E Ratio -7.1x · EV/EBITDA N/A · ROE -25.7%. (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 | $133M | $142M | $8M | $15M | $42M | $61M | $39M | $50M | $56M | $70M | $56M |
| Enterprise Value | $-37061627 | $-27760967 | $-106771112 | $164M | $119M | $135M | $125M | $142M | $120M | $162M | $123M |
| P/E Ratio → | -7.06 | — | — | — | 6.79 | 12.05 | — | — | 18.27 | 16.84 | 28.67 |
| P/S Ratio | 2.28 | 2.44 | 0.13 | 0.23 | 0.89 | 1.68 | 0.99 | 1.09 | 1.33 | 2.04 | 2.06 |
| P/B Ratio | 0.93 | 1.50 | 1.81 | 0.34 | 0.71 | 0.91 | 0.62 | 0.75 | 0.80 | 1.05 | 0.89 |
| P/FCF | — | — | 2.94 | — | 6.34 | 8.58 | 6.30 | — | 13.51 | 16.51 | 55.77 |
| P/OCF | — | — | 2.88 | — | 5.97 | 8.09 | 6.23 | — | 10.58 | 9.58 | 12.27 |
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 | — | -0.48 | -1.76 | 2.53 | 2.51 | 3.69 | 3.16 | 3.08 | 2.87 | 4.75 | 4.56 |
| EV / EBITDA | — | — | — | — | 12.87 | 20.33 | — | — | 21.41 | 19.60 | 28.24 |
| EV / EBIT | — | — | — | — | 15.30 | 26.96 | — | — | 29.45 | 23.14 | 39.12 |
| EV / FCF | — | — | -40.63 | — | 17.93 | 18.86 | 20.17 | — | 29.14 | 38.41 | 123.22 |
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 | 48.0% | 48.0% | 26.1% | 41.4% | 73.3% | 82.0% | 59.9% | 49.6% | 67.4% | 82.2% | 79.7% |
| Operating Margin | -21.8% | -21.8% | -26.6% | -8.7% | 16.4% | 13.7% | -10.5% | -8.1% | 9.7% | 20.5% | 11.7% |
| Net Profit Margin | -21.9% | -21.9% | -65.9% | -6.5% | 13.0% | 13.9% | -9.6% | -6.1% | 7.6% | 12.1% | 7.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -25.7% | -25.7% | -164.0% | -8.0% | 9.7% | 7.8% | -5.9% | -4.1% | 4.7% | 6.4% | 3.1% |
| ROA | -1.2% | -1.2% | -3.8% | -0.4% | 0.6% | 0.6% | -0.4% | -0.3% | 0.4% | 0.5% | 0.3% |
| ROIC | -12.8% | -12.8% | -8.5% | -2.0% | 3.2% | 2.0% | -1.6% | -1.4% | 1.5% | 2.4% | 1.1% |
| ROCE | -15.1% | -15.1% | -10.8% | -2.6% | 4.3% | 2.7% | -2.1% | -1.8% | 2.0% | 3.2% | 1.5% |
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 | 0.17 | 0.17 | 7.75 | 4.53 | 1.93 | 1.79 | 1.91 | 1.95 | 1.89 | 2.12 | 2.55 |
| Debt / EBITDA | — | — | — | — | 12.48 | 18.16 | — | — | 23.30 | 17.05 | 36.69 |
| Net Debt / Equity | — | -1.79 | -26.85 | 3.35 | 1.29 | 1.09 | 1.36 | 1.37 | 0.93 | 1.39 | 1.07 |
| Net Debt / EBITDA | — | — | — | — | 8.31 | 11.08 | — | — | 11.48 | 11.17 | 15.46 |
| Debt / FCF | — | — | -43.57 | — | 11.58 | 10.28 | 13.87 | — | 15.63 | 21.90 | 67.46 |
| Interest Coverage | -0.44 | -0.44 | -0.50 | -0.18 | 0.72 | 0.71 | -0.30 | -0.20 | 0.33 | 1.01 | 1.04 |
Net cash position: cash ($186M) exceeds total debt ($16M)
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 | 0.44 | 0.44 | 0.18 | 0.10 | 0.15 | 0.19 | 0.13 | 0.12 | 0.15 | 0.12 | 0.22 |
| Quick Ratio | 0.44 | 0.44 | 0.18 | 0.10 | 0.15 | 0.19 | 0.13 | 0.12 | 0.15 | 0.12 | 0.22 |
| Cash Ratio | 0.19 | 0.19 | 0.15 | 0.06 | 0.04 | 0.06 | 0.05 | 0.05 | 0.09 | 0.08 | 0.17 |
| Asset Turnover | — | 0.05 | 0.06 | 0.06 | 0.05 | 0.04 | 0.05 | 0.05 | 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 | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | 4.8% | 1.9% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | 14.7% | 8.3% | — | — | 5.5% | 5.9% | 3.5% |
| FCF Yield | — | — | 34.0% | — | 15.8% | 11.7% | 15.9% | — | 7.4% | 6.1% | 1.8% |
| Buyback Yield | 0.0% | — | — | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 0.0% | — | — | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $78M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $4M |
Persistent Operating Margin Deficit
As reported in recent financial filings, PNBK trades at a P/TBV of 0.81, a valuation level that suggests the market is pricing the institution as a distressed asset rather than a viable, long-term franchise capable of generating a sustainable return on tangible equity.
The current discount to tangible book value indicates that investors are heavily discounting the bank's ability to return to profitability. This valuation appears to reflect a lack of confidence in the current business model, as the market likely views the bank's negative earnings trajectory as a structural impediment to value creation.
Based on the provided quarterly data, PNBK's ROE has remained consistently negative, reaching -1.9% in 2026Q1, which highlights a fundamental inability to leverage the balance sheet effectively given the current high-cost structure and limited non-interest income contribution to the bottom line.
The DuPont decomposition suggests that the bank's profitability is severely constrained by an inability to achieve positive operating leverage. With non-interest expenses consistently outpacing revenue, the bank is failing to convert its asset base into meaningful shareholder returns, necessitating a significant shift in operational strategy.
According to recent quarterly reports, PNBK's NIM has stagnated between 0.4% and 0.6%, indicating that the bank is struggling to manage funding costs in the competitive Fairfield County market while failing to capture the expected yield benefits from its commercial real estate loan portfolio.
The efficiency ratio, which peaked at 75.8% in 2025Q4, underscores a structural bloat that prevents the bank from scaling its operations profitably. This suggests that the current branch-heavy model is ill-suited for the bank's current revenue scale, leaving it vulnerable to further margin erosion if deposit betas continue to rise.
As evidenced by the equity-to-assets ratio of 0.08 in 2026Q1, PNBK's capital adequacy remains fragile, with the bank's ability to maintain regulatory buffers appearing highly sensitive to ongoing operational losses and the potential for further asset quality deterioration in its core loan portfolios.
The lack of organic capital generation, combined with the absence of dividend payments, suggests that the bank is in a defensive posture. Investors should monitor whether the current capital levels are sufficient to absorb potential credit shocks without necessitating dilutive equity raises that would further impair shareholder value.
The P/E ratio is the most commonly misapplied metric for PNBK, as the bank's current negative earnings render the multiple meaningless and obscure the underlying structural issues related to the bank's high operating expense base and volatile provision charges.
Relying on P/E ratios for a loss-making institution like PNBK provides a distorted view of its financial health. Analysts should instead focus on the Price-to-Tangible Book Value (P/TBV) and the efficiency ratio to better assess the bank's liquidation value and its progress toward achieving a sustainable, profitable operating model.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying PNBK stock.
Patriot National Bancorp, Inc.'s current P/E ratio is -7.1x. The historical average is 26.9x.
Patriot National Bancorp, Inc.'s return on equity (ROE) is -25.7%. The historical average is -7.1%.
Based on historical data, Patriot National Bancorp, Inc. is trading at a P/E of -7.1x. Compare with industry peers and growth rates for a complete picture.
Patriot National Bancorp, Inc. has 48.0% gross margin and -21.8% operating margin.