Latest Ratios: P/E Ratio 15.7x · EV/EBITDA 6.2x · ROE 9.6%. (2001–2025 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 | $798M | $626M | $523M | $414M | $464M | $430M | $272M | $332M | $229M | $190M | $109M |
| Enterprise Value | $435M | $263M | $197M | $175M | $297M | $-436326360 | $-22316340 | $243M | $175M | $151M | $86M |
| P/E Ratio → | 15.66 | 12.41 | 14.48 | 14.49 | 10.78 | 12.32 | 11.20 | 12.51 | 12.78 | 38.75 | 23.79 |
| P/S Ratio | 2.52 | 1.98 | 1.83 | 1.72 | 2.49 | 2.88 | 2.05 | 2.88 | 2.36 | 3.41 | 2.40 |
| P/B Ratio | 1.43 | 1.13 | 1.06 | 0.90 | 1.07 | 1.00 | 0.76 | 1.06 | 0.81 | 0.92 | 1.04 |
| P/FCF | 13.45 | 10.55 | 11.29 | 12.39 | 10.47 | 9.81 | 11.53 | 14.08 | 13.47 | — | 23.81 |
| P/OCF | 12.93 | 10.14 | 9.92 | 10.43 | 8.17 | 9.30 | 9.37 | 11.12 | 10.98 | 153.11 | 9.44 |
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 | — | 0.83 | 0.69 | 0.73 | 1.59 | -2.92 | -0.17 | 2.11 | 1.81 | 2.72 | 1.88 |
| EV / EBITDA | 6.23 | 3.76 | 3.46 | 3.51 | 4.39 | -8.18 | -0.58 | 6.43 | 7.11 | 15.53 | 7.56 |
| EV / EBIT | 7.08 | 4.28 | 4.33 | 4.82 | 5.40 | -9.85 | -0.72 | 7.25 | 8.21 | 13.24 | 9.37 |
| EV / FCF | — | 4.44 | 4.26 | 5.22 | 6.70 | -9.96 | -0.94 | 10.28 | 10.31 | — | 18.67 |
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 | 61.0% | 61.0% | 58.3% | 62.1% | 86.4% | 91.0% | 80.9% | 76.4% | 80.9% | 88.4% | 88.8% |
| Operating Margin | 19.4% | 19.4% | 15.9% | 15.1% | 29.4% | 29.7% | 23.2% | 29.0% | 22.1% | 20.6% | 20.1% |
| Net Profit Margin | 15.9% | 15.9% | 12.7% | 11.9% | 23.1% | 23.3% | 18.3% | 23.1% | 18.7% | 9.0% | 12.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 9.6% | 9.6% | 7.6% | 6.4% | 10.0% | 8.8% | 7.3% | 8.9% | 7.4% | 3.2% | 5.6% |
| ROA | 0.9% | 0.9% | 0.7% | 0.6% | 0.9% | 0.9% | 0.8% | 1.1% | 0.9% | 0.4% | 0.6% |
| ROIC | 7.7% | 7.7% | 6.5% | 5.3% | 7.6% | 6.3% | 5.4% | 6.9% | 5.2% | 4.0% | 4.2% |
| ROCE | 9.6% | 9.6% | 8.0% | 6.6% | 9.8% | 8.3% | 6.9% | 9.2% | 7.3% | 6.1% | 7.6% |
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 | 0.18 | 0.18 | 0.10 | 0.12 | 0.19 | 0.33 | 0.34 | 0.23 | 0.22 | 0.33 | 0.43 |
| Debt / EBITDA | 1.45 | 1.45 | 0.84 | 1.11 | 1.24 | 2.66 | 3.12 | 1.88 | 2.52 | 6.94 | 3.98 |
| Net Debt / Equity | — | -0.66 | -0.66 | -0.52 | -0.39 | -2.02 | -0.83 | -0.29 | -0.19 | -0.19 | -0.22 |
| Net Debt / EBITDA | -5.19 | -5.19 | -5.73 | -4.82 | -2.48 | -16.24 | -7.63 | -2.38 | -2.18 | -3.94 | -2.08 |
| Debt / FCF | — | -6.11 | -7.04 | -7.16 | -3.77 | -19.77 | -12.47 | -3.80 | -3.16 | — | -5.14 |
| Interest Coverage | 0.51 | 0.51 | 0.40 | 0.41 | 2.57 | 3.74 | 1.84 | 1.36 | 1.37 | 2.01 | 2.13 |
Net cash position: cash ($464M) exceeds total debt ($102M)
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 | 0.22 | 0.22 | 0.16 | 0.18 | 0.20 | 0.38 | 0.22 | 0.17 | 0.16 | 0.18 | 0.21 |
| Quick Ratio | 0.22 | 0.22 | 0.16 | 0.18 | 0.20 | 0.38 | 0.22 | 0.17 | 0.16 | 0.18 | 0.21 |
| Cash Ratio | 0.09 | 0.09 | 0.08 | 0.07 | 0.06 | 0.25 | 0.15 | 0.08 | 0.06 | 0.07 | 0.07 |
| Asset Turnover | — | 0.05 | 0.05 | 0.05 | 0.04 | 0.03 | 0.04 | 0.05 | 0.04 | 0.03 | 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 | 0.7% | 0.9% | 1.0% | 1.3% | 1.0% | 0.9% | 1.1% | 0.2% | — | 0.1% | 0.7% |
| Payout Ratio | 10.8% | 10.8% | 15.0% | 19.0% | 11.0% | 10.7% | 12.3% | 2.6% | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.4% | 8.1% | 6.9% | 6.9% | 9.3% | 8.1% | 8.9% | 8.0% | 7.8% | 2.6% | 4.2% |
| FCF Yield | 7.4% | 9.5% | 8.9% | 8.1% | 9.5% | 10.2% | 8.7% | 7.1% | 7.4% | — | 4.2% |
| Buyback Yield | 0.0% | 0.0% | 0.6% | 0.0% | 0.0% | 0.3% | 1.6% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.7% | 0.9% | 1.6% | 1.3% | 1.0% | 1.1% | 2.7% | 0.2% | 0.0% | 0.1% | 0.7% |
| Shares Outstanding | — | $17M | $17M | $17M | $17M | $16M | $15M | $14M | $13M | $9M | $6M |
CRE concentration and migration
Based on recent market data, SMBK trades at a P/B of 1.47, which appears elevated relative to its modest ROE of 2.5%, suggesting that investors may be pricing in future M&A-driven growth rather than current fundamental profitability metrics reported in the latest quarterly filings.
The current valuation multiple implies an expectation of significant future earnings expansion that is not yet reflected in the bank's core return on equity. Investors should monitor whether this premium is sustainable if the bank fails to improve its underlying profitability to levels more consistent with its regional peers.
As reported in financial statements, the bank's ROE has remained constrained at approximately 2.5%, a figure that appears structurally limited by a low NIM of 0.8% and suggests that the bank's current asset utilization is not yet generating sufficient returns to justify its valuation.
The decomposition of profitability indicates that the bank's reliance on M&A-led growth has not yet translated into superior operating leverage. The persistent compression in NIM suggests that funding costs are effectively neutralizing the yield benefits typically expected from a construction-heavy loan portfolio.
According to quarterly data, the NIM has hovered between 0.6% and 0.8% over the last ten quarters, indicating that the bank's funding costs are rising in tandem with asset yields, which may limit the potential for significant margin expansion in the near term.
While the efficiency ratio has shown some volatility, the bank's ability to maintain it below 46% suggests disciplined cost management despite the complexities of integrating recent acquisitions. However, the lack of meaningful NIM expansion warrants further investigation into the bank's deposit beta and pricing power.
Based on a comparison with peers like BancFirst and ServisFirst, SMBK's ROE of 2.5% significantly lags the group, which may indicate that the bank's current focus on high-growth secondary markets has yet to yield the competitive advantages seen in more established regional players.
The valuation gap between SMBK and its peers appears to be driven by differences in operational maturity and asset quality. Investors should consider whether the bank's current lag is a cyclical byproduct of its aggressive expansion or a structural issue related to its specific geographic and loan mix.
The P/E ratio is frequently misapplied to SMBK, as it obscures the impact of non-cash purchase accounting accretion and volatile CECL-driven provisioning, which can significantly distort earnings and lead to an inaccurate assessment of the bank's true core profitability and valuation.
Analysts should prioritize P/TBV and core ROE metrics over P/E to better understand the bank's underlying value creation. Relying on P/E in the context of an M&A-active regional bank may lead to a misunderstanding of the bank's earnings quality and its ability to sustain capital returns.
Includes 30+ ratios · 25 years · Updated daily
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Quick answers to the most common questions about buying SMBK stock.
SmartFinancial, Inc.'s current P/E ratio is 15.7x. The historical average is 33.0x. This places it at the 45th percentile of its historical range.
SmartFinancial, Inc.'s current EV/EBITDA is 6.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 13.1x.
SmartFinancial, Inc.'s return on equity (ROE) is 9.6%. The historical average is 4.7%.
Based on historical data, SmartFinancial, Inc. is trading at a P/E of 15.7x. This is at the 45th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
SmartFinancial, Inc.'s current dividend yield is 0.69% with a payout ratio of 10.8%.
SmartFinancial, Inc. has 61.0% gross margin and 19.4% operating margin. Operating margin between 10-20% is typical for established companies.
SmartFinancial, Inc.'s Debt/EBITDA ratio is 1.5x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.