Latest Ratios: P/E Ratio 13.1x · EV/EBITDA 9.1x · ROE 30.8%. (2003–2025 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 | $2.7B | $3.1B | $2.7B | $2.1B | $1.6B | $1.5B | $797M | $744M | $454M | $555M | $352M |
| Enterprise Value | $2.8B | $3.2B | $2.2B | $1.2B | $860M | $1.0B | $604M | $-146311170 | $-44872720 | $-233663120 | $-331146640 |
| P/E Ratio → | 13.12 | 13.72 | 12.27 | 11.05 | 12.50 | 13.46 | 9.96 | 14.41 | 5.14 | 25.33 | — |
| P/S Ratio | 3.89 | 4.54 | 3.76 | 3.47 | 3.93 | 4.56 | 2.70 | 2.62 | 1.51 | 2.56 | 2.43 |
| P/B Ratio | 4.34 | 4.54 | 3.38 | 2.63 | 2.34 | 2.28 | 1.37 | 1.53 | 1.12 | 1.71 | 1.18 |
| P/FCF | 10.42 | 12.15 | 11.99 | 12.20 | 14.20 | 18.08 | 6.82 | 11.46 | — | — | — |
| P/OCF | 10.14 | 11.83 | 11.72 | 11.37 | 13.59 | 17.75 | 6.61 | 11.12 | — | — | — |
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 | — | 4.70 | 3.13 | 2.02 | 2.08 | 3.18 | 2.04 | -0.52 | -0.15 | -1.08 | -2.29 |
| EV / EBITDA | 9.09 | 10.55 | 7.50 | 4.74 | 4.75 | 7.04 | 5.39 | -1.88 | -0.36 | -5.04 | — |
| EV / EBIT | 9.23 | 10.71 | 7.61 | 4.80 | 4.83 | 7.21 | 5.58 | -2.02 | -0.37 | -5.78 | — |
| EV / FCF | — | 12.58 | 9.98 | 7.08 | 7.51 | 12.62 | 5.16 | -2.26 | — | — | — |
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 | 74.3% | 74.3% | 69.8% | 73.2% | 83.9% | 95.6% | 92.5% | 85.0% | 89.8% | 91.6% | 89.2% |
| Operating Margin | 43.9% | 43.9% | 41.1% | 42.0% | 43.0% | 44.1% | 36.7% | 25.6% | 39.7% | 18.6% | -48.0% |
| Net Profit Margin | 33.1% | 33.1% | 30.6% | 31.4% | 31.5% | 33.9% | 27.1% | 18.2% | 29.4% | 10.0% | -66.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 30.8% | 30.8% | 27.2% | 25.6% | 19.3% | 17.9% | 15.0% | 11.6% | 24.3% | 7.0% | -31.1% |
| ROA | 2.5% | 2.5% | 2.6% | 2.5% | 1.8% | 1.7% | 1.3% | 1.0% | 1.9% | 0.5% | -2.0% |
| ROIC | 24.9% | 24.9% | 23.5% | 21.7% | 16.5% | 14.1% | 12.8% | 10.9% | 21.3% | 6.3% | -11.4% |
| ROCE | 28.0% | 28.0% | 29.1% | 27.1% | 20.5% | 17.1% | 15.2% | 12.9% | 24.8% | 7.7% | -14.6% |
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 | 0.32 | 0.32 | 0.16 | 0.18 | 0.18 | 0.23 | 0.26 | 0.11 | 0.14 | 0.17 | 0.93 |
| Debt / EBITDA | 0.73 | 0.73 | 0.42 | 0.57 | 0.68 | 1.03 | 1.36 | 0.70 | 0.44 | 1.20 | — |
| Net Debt / Equity | — | 0.16 | -0.57 | -1.10 | -1.10 | -0.69 | -0.33 | -1.84 | -1.23 | -2.43 | -2.29 |
| Net Debt / EBITDA | 0.36 | 0.36 | -1.51 | -3.43 | -4.23 | -3.05 | -1.73 | -11.45 | -3.98 | -17.01 | — |
| Debt / FCF | — | 0.43 | -2.00 | -5.12 | -6.69 | -5.47 | -1.65 | -13.72 | — | — | — |
| Interest Coverage | 1.72 | 1.72 | 1.67 | 1.65 | 2.99 | 12.83 | 6.80 | 1.89 | 4.42 | 2.63 | -5.67 |
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 | 0.18 | 0.38 | 0.33 | 0.35 | 0.37 | 0.54 | 0.56 | 0.59 | 0.61 |
| Quick Ratio | 0.02 | 0.02 | 0.18 | 0.38 | 0.33 | 0.35 | 0.37 | 0.54 | 0.56 | 0.59 | 0.61 |
| Cash Ratio | 0.01 | 0.01 | 0.07 | 0.16 | 0.13 | 0.10 | 0.06 | 0.19 | 0.14 | 0.20 | 0.23 |
| Asset Turnover | — | 0.07 | 0.08 | 0.08 | 0.05 | 0.05 | 0.05 | 0.05 | 0.07 | 0.05 | 0.03 |
| 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 | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 7.6% | 7.3% | 8.2% | 9.1% | 8.0% | 7.4% | 10.0% | 6.9% | 19.5% | 3.9% | — |
| FCF Yield | 9.6% | 8.2% | 8.3% | 8.2% | 7.0% | 5.5% | 14.7% | 8.7% | — | — | — |
| Buyback Yield | 14.1% | 12.1% | 9.5% | 4.7% | 3.7% | 2.7% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 14.1% | 12.1% | 9.5% | 4.7% | 3.7% | 2.7% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $46M | $51M | $55M | $57M | $59M | $58M | $57M | $57M | $56M | $45M |
Regulatory BaaS compliance scrutiny
As reported in recent financial filings, TBBK trades at a P/B multiple of 4.19, a significant premium to regional peers that suggests the market prices the bank as a scalable technology platform rather than a traditional, capital-intensive balance sheet lender.
The elevated P/B ratio indicates that investors are assigning value to the bank's regulatory moat and BaaS infrastructure rather than its current book value. This valuation implies high expectations for future ROTCE, which may be difficult to sustain if regulatory compliance costs continue to compress margins.
Based on quarterly data, TBBK's ROE has fluctuated between 5.6% and 8.7% over the last ten quarters, with the recent compression in NIM to 0.9% in 2026Q1 suggesting that the bank's profitability is increasingly sensitive to funding costs and regulatory overhead.
The decomposition of ROE shows that while the bank benefits from a low-cost deposit base, the recent rise in the efficiency ratio to 35.7% indicates that operating leverage is currently working against the firm. Investors should monitor whether the bank can regain its historical profitability levels as it navigates a more stringent regulatory environment.
According to the company's income statement data, the efficiency ratio has trended upward from 23.9% in 2025Q1 to 35.7% in 2026Q1, signaling that the cost of maintaining its specialized fintech infrastructure is rising faster than the revenue generated from its core lending and payment activities.
This trend suggests that the bank's operating leverage is under pressure, likely due to the intensive compliance and technology investments required for its BaaS model. If this efficiency ratio continues to climb, it may indicate that the bank's competitive advantage is being eroded by the very regulatory burdens that once served as its moat.
As indicated by institutional research standards, the P/E ratio is a frequently misapplied metric for TBBK because it fails to account for the lumpy nature of provision expenses and the significant impact of custodial cash balances on reported earnings volatility.
Investors should prioritize P/TBV and ROTCE over P/E, as the latter is heavily distorted by the bank's non-interest income fluctuations and shifting credit provisions. Relying on P/E may lead to an inaccurate assessment of the bank's underlying earnings power, which is better captured by analyzing the stability of its fee-based revenue streams.
Includes 30+ ratios · 23 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying TBBK stock.
The Bancorp, Inc.'s current P/E ratio is 13.1x. The historical average is 21.3x. This places it at the 29th percentile of its historical range.
The Bancorp, Inc.'s current EV/EBITDA is 9.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 16.0x.
The Bancorp, Inc.'s return on equity (ROE) is 30.8%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 7.4%.
Based on historical data, The Bancorp, Inc. is trading at a P/E of 13.1x. This is at the 29th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
The Bancorp, Inc. has 74.3% gross margin and 43.9% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
The Bancorp, Inc.'s Debt/EBITDA ratio is 0.7x, indicating low leverage. A ratio below 2x is generally considered financially healthy.