Latest Ratios: P/E Ratio 16.8x · EV/EBITDA 11.8x · ROE 9.0%. (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 | $956M | $757M | $634M | $591M | $719M | $642M | $644M | $840M | $663M | $885M | $837M |
| Enterprise Value | $1.1B | $863M | $712M | $675M | $970M | $891M | $864M | $997M | $776M | $1.1B | $998M |
| P/E Ratio → | 16.83 | 12.72 | 12.96 | 10.08 | 9.56 | 10.44 | 12.26 | 14.55 | 10.79 | 20.54 | 19.62 |
| P/S Ratio | 3.43 | 2.72 | 2.41 | 2.42 | 3.49 | 3.45 | 3.29 | 3.99 | 3.33 | 4.73 | 4.64 |
| P/B Ratio | 1.46 | 1.10 | 0.94 | 0.92 | 1.20 | 1.07 | 1.13 | 1.56 | 1.35 | 1.93 | 1.93 |
| P/FCF | 20.90 | 16.56 | 11.62 | 10.10 | 9.61 | 12.22 | 11.04 | 14.03 | 10.36 | 15.24 | 15.84 |
| P/OCF | 16.60 | 13.15 | 10.67 | 9.21 | 9.15 | 11.59 | 10.36 | 13.17 | 9.80 | 14.35 | 15.25 |
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 | — | 3.10 | 2.70 | 2.76 | 4.71 | 4.79 | 4.42 | 4.73 | 3.90 | 5.79 | 5.53 |
| EV / EBITDA | 11.83 | 9.62 | 9.43 | 7.63 | 8.82 | 9.61 | 10.86 | 11.53 | 9.26 | 13.46 | 13.79 |
| EV / EBIT | 13.08 | 10.63 | 11.11 | 8.70 | 9.76 | 10.84 | 12.44 | 13.04 | 9.74 | 14.13 | 14.61 |
| EV / FCF | — | 18.88 | 13.04 | 11.54 | 12.96 | 16.96 | 14.81 | 16.65 | 12.12 | 18.67 | 18.88 |
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 | 67.1% | 67.1% | 64.5% | 77.3% | 97.0% | 98.9% | 84.5% | 82.8% | 89.1% | 91.1% | 89.9% |
| Operating Margin | 29.2% | 29.2% | 24.3% | 31.7% | 48.3% | 44.2% | 35.5% | 36.3% | 40.0% | 41.0% | 37.9% |
| Net Profit Margin | 22.0% | 22.0% | 18.6% | 24.0% | 36.5% | 33.1% | 26.8% | 27.4% | 30.9% | 23.0% | 23.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 9.0% | 9.0% | 7.4% | 9.4% | 12.5% | 10.5% | 9.5% | 11.3% | 13.0% | 9.7% | 10.1% |
| ROA | 1.0% | 1.0% | 0.8% | 1.0% | 1.2% | 1.0% | 0.9% | 1.1% | 1.2% | 0.9% | 0.9% |
| ROIC | 7.4% | 7.4% | 6.1% | 7.0% | 8.3% | 7.1% | 6.6% | 8.2% | 8.8% | 8.6% | 8.2% |
| ROCE | 10.6% | 10.6% | 8.6% | 12.4% | 16.8% | 12.9% | 11.4% | 14.1% | 16.8% | 17.2% | 16.1% |
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 | 0.23 | 0.23 | 0.18 | 0.21 | 0.49 | 0.49 | 0.47 | 0.38 | 0.33 | 0.53 | 0.48 |
| Debt / EBITDA | 1.74 | 1.74 | 1.66 | 1.51 | 2.68 | 3.21 | 3.36 | 2.37 | 1.93 | 3.02 | 2.90 |
| Net Debt / Equity | — | 0.15 | 0.11 | 0.13 | 0.42 | 0.41 | 0.39 | 0.29 | 0.23 | 0.43 | 0.37 |
| Net Debt / EBITDA | 1.18 | 1.18 | 1.03 | 0.95 | 2.28 | 2.69 | 2.77 | 1.82 | 1.34 | 2.47 | 2.22 |
| Debt / FCF | — | 2.31 | 1.42 | 1.44 | 3.35 | 4.74 | 3.78 | 2.62 | 1.76 | 3.42 | 3.04 |
| Interest Coverage | 0.90 | 0.90 | 0.70 | 1.43 | 15.37 | 10.84 | 2.81 | 2.11 | 3.94 | 5.26 | 4.46 |
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 | 0.05 | 0.05 | 0.06 | 0.09 | 0.10 | 0.08 | 0.09 | 0.13 | 0.12 | 0.14 | 0.15 |
| Quick Ratio | 0.05 | 0.05 | 0.06 | 0.09 | 0.10 | 0.08 | 0.09 | 0.13 | 0.12 | 0.14 | 0.15 |
| Cash Ratio | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Asset Turnover | — | 0.04 | 0.04 | 0.04 | 0.03 | 0.03 | 0.03 | 0.04 | 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 | 2.8% | 3.6% | 4.3% | 4.6% | 3.8% | 4.1% | 4.1% | 3.1% | 3.9% | 2.8% | 3.0% |
| Payout Ratio | 45.2% | 45.2% | 56.1% | 46.7% | 35.9% | 42.7% | 50.2% | 45.6% | 41.6% | 58.4% | 58.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.9% | 7.9% | 7.7% | 9.9% | 10.5% | 9.6% | 8.2% | 6.9% | 9.3% | 4.9% | 5.1% |
| FCF Yield | 4.8% | 6.0% | 8.6% | 9.9% | 10.4% | 8.2% | 9.1% | 7.1% | 9.7% | 6.6% | 6.3% |
| Buyback Yield | 4.0% | 5.0% | 0.1% | 0.0% | 1.0% | 0.4% | 0.5% | 0.0% | 0.1% | 0.5% | 0.1% |
| Total Shareholder Yield | 6.7% | 8.7% | 4.4% | 4.6% | 4.7% | 4.5% | 4.6% | 3.1% | 4.0% | 3.4% | 3.1% |
| Shares Outstanding | — | $18M | $19M | $19M | $19M | $19M | $19M | $19M | $19M | $19M | $19M |
Residential mortgage concentration risk
Based on recent market data, TrustCo trades at a P/B of 1.46, which suggests that investors are assigning a premium to the bank's stable, residential-focused franchise relative to peers like Northfield Bancorp, despite the bank's currently modest return on equity profile.
The current P/B multiple appears to reflect the market's confidence in the bank's low-cost deposit base and historical asset quality rather than immediate earnings growth. Investors should monitor whether the forward P/E of 19.05 can be justified by future ROTCE expansion or if the valuation remains tethered to the bank's defensive, fortress-like balance sheet characteristics.
As reported in quarterly financial statements, TrustCo's ROE has hovered in the 1.6% to 2.4% range, a performance level that appears structurally suppressed by the bank's exceptionally high equity-to-assets ratio and conservative, low-leverage operating model.
The DuPont decomposition suggests that while the bank maintains a stable NIM, the lack of financial leverage prevents a higher ROE, effectively prioritizing capital preservation over aggressive return generation. This profitability profile may indicate that the bank is optimized for long-term stability rather than short-term equity yield maximization.
According to the provided performance metrics, the efficiency ratio has improved from 45.7% in 2023Q4 to 37.9% in 2026Q1, indicating that management is successfully managing its extensive branch network costs while maintaining a consistent NIM of approximately 0.7%.
The downward trend in the efficiency ratio suggests that the bank is achieving better operating leverage, which is critical given the high fixed-cost nature of its physical footprint. Investors should monitor whether this efficiency can be sustained as the bank continues its expansion into the more competitive Florida market.
Based on the bank's reported figures, the equity-to-assets ratio has remained remarkably stable at 0.11, providing a substantial capital buffer that significantly exceeds regulatory requirements and reinforces the bank's reputation for extreme balance sheet conservatism.
This capital adequacy level suggests that TrustCo is well-positioned to absorb potential credit shocks within its residential mortgage portfolio without needing to raise external capital. However, the persistent maintenance of such high capital levels may continue to act as a drag on overall return on equity metrics.
The P/E ratio is frequently misapplied to TrustCo, as it obscures the bank's underlying capital strength and the impact of conservative provisioning, which can lead to distorted views of the bank's true earnings power and valuation relative to its peers.
Investors should instead focus on P/TBV, as it better accounts for the bank's tangible capital base and the value of its residential mortgage portfolio. Relying on P/E in a bank with such a low-leverage, high-capital structure may lead to an incorrect assessment of the bank's growth potential and risk-adjusted returns.
Includes 30+ ratios · 30 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying TRST stock.
TrustCo Bank Corp NY's current P/E ratio is 16.8x. The historical average is 17.7x. This places it at the 53th percentile of its historical range.
TrustCo Bank Corp NY's current EV/EBITDA is 11.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.9x.
TrustCo Bank Corp NY's return on equity (ROE) is 9.0%. The historical average is 15.0%.
Based on historical data, TrustCo Bank Corp NY is trading at a P/E of 16.8x. This is at the 53th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
TrustCo Bank Corp NY's current dividend yield is 2.75% with a payout ratio of 45.2%.
TrustCo Bank Corp NY has 67.1% gross margin and 29.2% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
TrustCo Bank Corp NY's Debt/EBITDA ratio is 1.7x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.