Latest Ratios: P/E Ratio 17.5x · EV/EBITDA 17.9x · ROE 10.2%. (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 | $642M | $498M | $340M | $382M | $339M | $273M | $216M | $267M | $276M | $193M | $189M |
| Enterprise Value | $950M | $806M | $567M | $571M | $237M | $-364356115 | $-88030000 | $257M | $353M | $290M | $279M |
| P/E Ratio → | 17.46 | 13.43 | 10.68 | 12.06 | 9.59 | 9.81 | 11.74 | 11.26 | 12.70 | 19.70 | 17.36 |
| P/S Ratio | 4.93 | 3.82 | 3.14 | 3.59 | 3.23 | 2.90 | 2.32 | 3.44 | 3.78 | 3.20 | 3.83 |
| P/B Ratio | 1.54 | 1.18 | 1.12 | 1.38 | 1.38 | 1.00 | 0.84 | 1.41 | 1.64 | 1.26 | 1.58 |
| P/FCF | 12.21 | 9.46 | 8.76 | 9.69 | 9.07 | 6.72 | 8.84 | 10.99 | 9.93 | 12.68 | 19.34 |
| P/OCF | 11.97 | 9.27 | 8.55 | 9.41 | 8.65 | 6.47 | 8.48 | 10.38 | 9.35 | 11.37 | 15.60 |
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 | — | 6.19 | 5.23 | 5.36 | 2.26 | -3.88 | -0.94 | 3.31 | 4.84 | 4.80 | 5.66 |
| EV / EBITDA | 17.87 | 15.15 | 13.04 | 13.21 | 4.86 | -9.47 | -3.34 | 8.01 | 11.95 | 15.52 | 16.98 |
| EV / EBIT | 20.46 | 17.35 | 14.02 | 14.33 | 5.27 | -10.40 | -3.88 | 8.74 | 13.23 | 17.69 | 19.06 |
| EV / FCF | — | 15.33 | 14.60 | 14.48 | 6.34 | -8.99 | -3.60 | 10.56 | 12.71 | 19.04 | 28.54 |
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 | 73.7% | 73.7% | 84.0% | 92.0% | 96.7% | 93.1% | 79.7% | 87.8% | 88.8% | 91.8% | 92.6% |
| Operating Margin | 27.3% | 27.3% | 30.6% | 34.7% | 41.5% | 34.7% | 21.5% | 33.5% | 33.2% | 24.9% | 27.5% |
| Net Profit Margin | 21.7% | 21.7% | 24.1% | 27.6% | 33.0% | 27.6% | 17.5% | 27.0% | 27.0% | 14.8% | 20.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 10.2% | 10.2% | 11.0% | 12.1% | 13.8% | 10.5% | 8.2% | 13.3% | 13.5% | 7.1% | 9.3% |
| ROA | 1.3% | 1.3% | 1.3% | 1.3% | 1.3% | 1.0% | 0.9% | 1.4% | 1.3% | 0.7% | 0.9% |
| ROIC | 5.3% | 5.3% | 5.5% | 7.1% | 10.3% | 7.5% | 5.3% | 7.6% | 7.0% | 4.8% | 4.8% |
| ROCE | 2.5% | 2.5% | 7.4% | 10.2% | 14.7% | 10.7% | 7.5% | 10.9% | 10.2% | 7.1% | 7.2% |
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 | 0.78 | 0.78 | 0.90 | 0.92 | 0.27 | 0.27 | 0.37 | 0.55 | 0.70 | 0.85 | 0.91 |
| Debt / EBITDA | 6.19 | 6.19 | 6.30 | 5.90 | 1.36 | 1.90 | 3.62 | 3.24 | 4.00 | 7.03 | 6.62 |
| Net Debt / Equity | — | 0.73 | 0.75 | 0.68 | -0.42 | -2.34 | -1.18 | -0.05 | 0.46 | 0.63 | 0.75 |
| Net Debt / EBITDA | 5.80 | 5.80 | 5.22 | 4.37 | -2.09 | -16.56 | -11.54 | -0.32 | 2.61 | 5.19 | 5.47 |
| Debt / FCF | — | 5.87 | 5.84 | 4.79 | -2.73 | -15.71 | -12.45 | -0.43 | 2.78 | 6.37 | 9.20 |
| Interest Coverage | 1.16 | 1.16 | 1.69 | 4.79 | 12.40 | 5.06 | 1.86 | 2.90 | 3.61 | 3.02 | 3.72 |
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 | 0.32 | 0.32 | 0.04 | 0.27 | 0.32 | 0.47 | 0.33 | 0.21 | 0.15 | 0.14 | 0.16 |
| Quick Ratio | 0.32 | 0.32 | 0.04 | 0.27 | 0.32 | 0.47 | 0.33 | 0.21 | 0.15 | 0.14 | 0.16 |
| Cash Ratio | 0.32 | 0.32 | 0.03 | 0.03 | 0.08 | 0.29 | 0.18 | 0.08 | 0.03 | 0.03 | 0.02 |
| Asset Turnover | — | 0.05 | 0.06 | 0.05 | 0.04 | 0.04 | 0.04 | 0.05 | 0.05 | 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 | 2.2% | 2.9% | 3.2% | 2.5% | 2.7% | 3.3% | 4.0% | 2.6% | 2.3% | 2.7% | 2.6% |
| Payout Ratio | 38.8% | 38.8% | 33.6% | 30.6% | 25.5% | 32.2% | 47.2% | 29.2% | 28.8% | 53.5% | 44.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.7% | 7.4% | 9.4% | 8.3% | 10.4% | 10.2% | 8.5% | 8.9% | 7.9% | 5.1% | 5.8% |
| FCF Yield | 8.2% | 10.6% | 11.4% | 10.3% | 11.0% | 14.9% | 11.3% | 9.1% | 10.1% | 7.9% | 5.2% |
| Buyback Yield | 1.7% | 2.2% | 0.1% | 0.5% | 2.0% | 0.6% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 4.0% | 5.1% | 3.2% | 3.1% | 4.7% | 3.8% | 4.0% | 2.6% | 2.3% | 2.7% | 2.6% |
| Shares Outstanding | — | $10M | $9M | $9M | $9M | $9M | $9M | $7M | $7M | $7M | $6M |
Includes 30+ ratios · 30 years · Updated daily
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10-year return with dividends reinvested.
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Quick answers to the most common questions about buying ACNB stock.
ACNB Corporation's current P/E ratio is 17.5x. The historical average is 12.9x. This places it at the 93th percentile of its historical range.
ACNB Corporation's current EV/EBITDA is 17.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 14.3x.
ACNB Corporation's return on equity (ROE) is 10.2%. The historical average is 11.1%.
Based on historical data, ACNB Corporation is trading at a P/E of 17.5x. This is at the 93th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
ACNB Corporation's current dividend yield is 2.22% with a payout ratio of 38.8%.
ACNB Corporation has 73.7% gross margin and 27.3% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
ACNB Corporation's Debt/EBITDA ratio is 6.2x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Deposit competition and leverage
Metrics are mathematically derived from official filings.
Premium Pricing for Hybrid Model
ACNB trades at 1.58x tangible book, a premium to peers like CZWI (1.14x) and MNSB (0.81x), as per recent market data, reflecting market recognition of its insurance arm and sticky deposits.
The forward P/E of 11.39 suggests the market expects significant earnings growth, likely from continued margin expansion and fee income. However, the P/B premium implies investors are already paying for the franchise's moat, leaving limited upside unless ROTCE improves further. The market appears to be pricing in a successful integration of recent acquisitions and sustained low-cost funding advantages.
ROE Rebound Masks Structural Leverage
ROE improved to 3.6% in 2026Q2 from a trough of -0.1% in 2025Q1, as per financial statements, but remains below peer averages, indicating profitability is still recovering from provision volatility.
DuPont decomposition shows ROE is driven by a thin NIM of 1.0% and modest asset utilization, offset by high leverage (equity/assets at 13%). The efficiency ratio of 44% is strong, but the low NIM suggests the bank is not yet earning its cost of equity. The rebound in ROE is largely due to higher non-interest income (16.8% of revenue) and lower provisions, not core spread widening.
NIM Stability Hinges on Deposit Beta
Net interest margin held at 1.0% for three consecutive quarters, as reported in financial statements, while the efficiency ratio improved to 44.0% in 2026Q2, indicating operating leverage is offsetting margin pressure.
The stable NIM suggests asset yields and funding costs are moving in tandem, but this is precarious if deposit competition intensifies. The efficiency ratio improvement from 67.5% in 2025Q1 to 44.0% reflects revenue growth outpacing expenses, likely from acquisition synergies and insurance commissions. However, the low NIM relative to peers (e.g., FUNC at 3.5% implied) indicates a structural disadvantage in earning asset mix or funding costs that warrants monitoring.
Capital Ratios Solid but Leverage Elevated
Equity-to-assets stood at 13% in 2026Q2, as per financial statements, indicating a well-capitalized position, yet the debt-to-equity ratio of 0.78 is higher than peers, suggesting potential balance sheet strain.
The equity ratio is stable and above regulatory minimums, but the elevated leverage (D/E 0.78) may limit flexibility for additional acquisitions or capital return. The recent acquisition likely increased debt, and while capital ratios appear adequate, investors should monitor whether retained earnings can support growth without further leverage. The dividend yield of 2.2% is sustainable, but buybacks remain modest, suggesting management prioritizes M&A.
Credit Quality Stabilizes After Volatility
Provision for loan losses swung from a $5.5M charge in 2025Q1 to a $447K charge in 2026Q2, as per financial statements, indicating a return to normalized credit costs after a CECL-driven spike.
The sharp provision volatility in 2025Q1 likely reflected forward-looking economic assumptions under CECL, not actual deterioration. The stabilization suggests improving credit conditions in the agricultural and CRE portfolios, but the geographic concentration in South Central PA remains a risk. Investors should watch for any localized downturn that could reignite provisions, especially given the bank's exposure to these sectors.
P/E Misleads Due to Provision Volatility
The P/E ratio of 17.91 is distorted by one-time provision swings and contingent commissions, as per financial statements, making P/B a more reliable valuation metric for ACNB.
Earnings per share have been volatile due to CECL provisions and insurance contingent commissions, which are not recurring. The forward P/E of 11.39 assumes normalized earnings, but investors should adjust for these items to assess core profitability. A better metric is P/TBV, which at 1.58x reflects the franchise value without earnings noise. Additionally, the market may be overlooking the impact of AOCI unrealized losses on tangible book value, which could understate true capital.