Latest Ratios: P/E Ratio 16.5x · EV/EBITDA 14.4x · ROE 13.9%. (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 | $2.3B | $1.9B | $2.1B | $1.5B | $1.9B | $1.6B | $922M | $939M | $753M | $866M | $1.1B |
| Enterprise Value | $2.7B | $2.3B | $2.5B | $1.8B | $2.0B | $1.6B | $970M | $1.0B | $795M | $1.1B | $1.2B |
| P/E Ratio → | 16.48 | 13.67 | 18.41 | 14.03 | 20.24 | 21.51 | 15.63 | 14.21 | 13.55 | 22.71 | 26.08 |
| P/S Ratio | 4.09 | 3.39 | 4.21 | 3.49 | 5.69 | 6.74 | 4.67 | 4.82 | 4.36 | 5.58 | 7.37 |
| P/B Ratio | 2.15 | 1.78 | 2.24 | 1.76 | 2.47 | 2.38 | 2.09 | 2.31 | 2.05 | 2.60 | 3.41 |
| P/FCF | 15.00 | 12.44 | 15.84 | 15.27 | 20.81 | 16.48 | 12.86 | 17.60 | 12.79 | 17.03 | 18.79 |
| P/OCF | 13.91 | 11.54 | 14.75 | 14.16 | 17.28 | 15.74 | 11.95 | 16.07 | 11.42 | 16.14 | 16.92 |
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 | — | 4.06 | 5.04 | 4.18 | 6.10 | 6.84 | 4.92 | 5.21 | 4.61 | 7.12 | 8.24 |
| EV / EBITDA | 14.45 | 12.33 | 16.00 | 11.32 | 14.28 | 15.28 | 12.51 | 12.60 | 10.84 | 16.07 | 17.75 |
| EV / EBIT | 15.08 | 12.87 | 17.48 | 13.12 | 16.73 | 17.08 | 14.31 | 13.41 | 11.74 | 20.11 | 21.28 |
| EV / FCF | — | 14.89 | 18.98 | 18.28 | 22.32 | 16.72 | 13.53 | 19.02 | 13.52 | 21.73 | 21.01 |
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 | 69.2% | 69.2% | 66.9% | 73.8% | 91.4% | 97.8% | 84.6% | 88.5% | 90.2% | 93.7% | 94.5% |
| Operating Margin | 31.6% | 31.6% | 28.8% | 31.9% | 36.4% | 40.0% | 34.4% | 38.8% | 39.1% | 35.5% | 38.8% |
| Net Profit Margin | 24.8% | 24.8% | 22.9% | 24.9% | 28.1% | 31.3% | 29.9% | 33.9% | 32.2% | 24.5% | 28.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 13.9% | 13.9% | 12.7% | 13.3% | 12.9% | 13.4% | 13.9% | 17.1% | 15.9% | 11.8% | 13.7% |
| ROA | 1.5% | 1.5% | 1.3% | 1.4% | 1.3% | 1.3% | 1.4% | 1.9% | 1.7% | 1.2% | 1.4% |
| ROIC | 9.0% | 9.0% | 8.1% | 9.3% | 10.4% | 11.1% | 9.6% | 11.5% | 9.4% | 7.6% | 9.4% |
| ROCE | 11.3% | 11.3% | 10.1% | 12.0% | 13.9% | 14.3% | 12.2% | 15.0% | 15.2% | 13.2% | 14.8% |
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 | 0.42 | 0.42 | 0.53 | 0.46 | 0.29 | 0.13 | 0.21 | 0.30 | 0.26 | 0.84 | 0.53 |
| Debt / EBITDA | 2.40 | 2.40 | 3.15 | 2.46 | 1.55 | 0.80 | 1.18 | 1.52 | 1.29 | 4.09 | 2.46 |
| Net Debt / Equity | — | 0.35 | 0.44 | 0.35 | 0.18 | 0.03 | 0.11 | 0.19 | 0.12 | 0.72 | 0.40 |
| Net Debt / EBITDA | 2.02 | 2.02 | 2.65 | 1.86 | 0.96 | 0.22 | 0.62 | 0.94 | 0.58 | 3.48 | 1.87 |
| Debt / FCF | — | 2.44 | 3.14 | 3.01 | 1.51 | 0.24 | 0.67 | 1.42 | 0.72 | 4.70 | 2.22 |
| Interest Coverage | 1.07 | 1.07 | 0.93 | 1.39 | 6.59 | 15.91 | 5.67 | 3.36 | 4.41 | 7.59 | 11.43 |
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 | 0.02 | 0.02 | 0.15 | 0.17 | 0.19 | 0.22 | 0.16 | 0.17 | 0.18 | 0.22 | 0.23 |
| Quick Ratio | 0.02 | 0.02 | 0.15 | 0.17 | 0.19 | 0.22 | 0.16 | 0.17 | 0.18 | 0.22 | 0.23 |
| Cash Ratio | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 | 0.01 | 0.02 |
| Asset Turnover | — | 0.06 | 0.06 | 0.05 | 0.04 | 0.04 | 0.04 | 0.05 | 0.05 | 0.05 | 0.05 |
| 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 | 1.6% | 1.9% | 1.7% | 2.3% | 1.8% | 1.8% | 2.7% | 2.5% | 2.9% | 2.1% | 1.5% |
| Payout Ratio | 26.5% | 26.5% | 31.3% | 32.1% | 35.8% | 37.8% | 41.6% | 35.6% | 39.2% | 47.5% | 39.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.1% | 7.3% | 5.4% | 7.1% | 4.9% | 4.6% | 6.4% | 7.0% | 7.4% | 4.4% | 3.8% |
| FCF Yield | 6.7% | 8.0% | 6.3% | 6.6% | 4.8% | 6.1% | 7.8% | 5.7% | 7.8% | 5.9% | 5.3% |
| Buyback Yield | 0.1% | 0.1% | 0.2% | 0.2% | 0.3% | 0.2% | 0.2% | 1.3% | 0.3% | 0.3% | 0.2% |
| Total Shareholder Yield | 1.7% | 2.0% | 1.9% | 2.5% | 2.0% | 2.0% | 2.9% | 3.8% | 3.2% | 2.4% | 1.7% |
| Shares Outstanding | — | $30M | $29M | $29M | $29M | $25M | $23M | $23M | $23M | $23M | $23M |
CRE concentration and duration
According to recent market data, SYBT trades at a P/B of 2.09, a multiple that significantly exceeds many regional peers and suggests investors are pricing the bank as a premium wealth management franchise rather than a traditional, commodity-driven commercial lender.
The elevated P/B multiple appears to be a direct reflection of the market's confidence in the bank's high-margin trust and wealth management segment. This valuation premium implies that the market expects sustained, fee-based earnings growth that is less sensitive to the cyclical volatility typically associated with regional bank lending portfolios.
Based on reported financial figures, SYBT's ROE of 3.4% is supported by a consistent fee-based income stream, which, as noted in regulatory filings, acts as a structural stabilizer against the inherent volatility of interest-rate-sensitive net interest income during shifting economic cycles.
The bank's profitability profile is heavily influenced by its non-interest income contribution, which differentiates it from peers reliant solely on net interest margin expansion. Investors should monitor whether the current ROE levels can be maintained as the bank scales its footprint into more competitive metropolitan markets.
As reported in recent financial statements, the efficiency ratio improved to 38.8% in 2026Q1 from 41.0% in 2023Q4, indicating that management is successfully leveraging its high-touch service model to outpace the growth of non-interest operating expenses.
This trend suggests that the bank is achieving meaningful operating leverage, even as it invests in new regional markets. The ability to maintain this efficiency while managing the professional talent costs required for its trust business remains a critical indicator of long-term margin sustainability.
Based on a comparison with regional peers like Republic Bancorp and First Financial, SYBT's valuation and profitability metrics appear structurally distinct, largely due to the disproportionate contribution of its wealth management segment to the overall revenue mix.
While peers often trade at lower multiples due to their reliance on transactional retail banking, SYBT's premium suggests a market perception of higher earnings quality. This gap appears structural rather than cyclical, rooted in the bank's deep-seated fiduciary relationships in its core Louisville market.
Investors frequently misapply the P/E ratio to SYBT, which obscures the underlying earnings quality by failing to account for the non-cash volatility inherent in CECL-based provision expenses and the market-dependent nature of trust fee income.
The P/E ratio is a flawed metric for this bank because it treats all earnings as equally volatile, ignoring the recurring, asset-based nature of the trust business. A more appropriate valuation approach would involve adjusting for the tangible book value and assessing the sustainability of the fee-based revenue stream independently of the lending cycle.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying SYBT stock.
Stock Yards Bancorp, Inc.'s current P/E ratio is 16.5x. The historical average is 16.9x. This places it at the 50th percentile of its historical range.
Stock Yards Bancorp, Inc.'s current EV/EBITDA is 14.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 13.2x.
Stock Yards Bancorp, Inc.'s return on equity (ROE) is 13.9%. The historical average is 15.8%.
Based on historical data, Stock Yards Bancorp, Inc. is trading at a P/E of 16.5x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Stock Yards Bancorp, Inc.'s current dividend yield is 1.61% with a payout ratio of 26.5%.
Stock Yards Bancorp, Inc. has 69.2% gross margin and 31.6% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Stock Yards Bancorp, Inc.'s Debt/EBITDA ratio is 2.4x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.