Latest Ratios: P/E Ratio 15.0x · EV/EBITDA 8.6x · ROE 6.5%. (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 | $2.7B | $3.1B | $2.6B | $1.9B | $2.3B | $2.3B | $1.7B | $2.0B | $1.6B | $2.5B | $2.1B |
| Enterprise Value | $3.4B | $3.8B | $2.4B | $391M | $2.7B | $2.9B | $2.3B | $3.1B | $2.9B | $4.0B | $2.4B |
| P/E Ratio → | 15.02 | 16.35 | 29.73 | — | 18.74 | 20.65 | — | 343.60 | 35.97 | 43.94 | 8.94 |
| P/S Ratio | 2.45 | 2.78 | 2.65 | 6.90 | 1.70 | 1.80 | 7.06 | 7.85 | 5.27 | 7.32 | 5.27 |
| P/B Ratio | 0.80 | 0.87 | 0.75 | 0.57 | 0.58 | 2.16 | 1.92 | 2.25 | 1.74 | 2.48 | 2.13 |
| P/FCF | 11.60 | 13.15 | 40.54 | 15.93 | 3.92 | 5.06 | 24.64 | 29.29 | 14.44 | 4.59 | — |
| P/OCF | 10.66 | 12.08 | 33.70 | 14.14 | 3.24 | 4.58 | 22.96 | 25.47 | 13.38 | 4.46 | 115.17 |
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 | — | 3.42 | 2.47 | 1.40 | 1.99 | 2.26 | 9.51 | 11.77 | 9.44 | 11.64 | 6.01 |
| EV / EBITDA | 8.64 | 9.56 | 8.41 | — | 4.01 | 3.15 | 71.94 | 65.72 | 48.41 | 92.30 | 20.33 |
| EV / EBIT | 10.54 | 11.66 | 14.46 | — | 4.70 | 3.51 | 161.20 | 109.46 | 62.72 | 148.42 | 23.67 |
| EV / FCF | — | 16.17 | 37.92 | 3.24 | 4.59 | 6.35 | 33.18 | 43.89 | 25.85 | 7.29 | — |
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 | 58.7% | 58.7% | 50.4% | 15.1% | 81.9% | 108.0% | 69.3% | 55.8% | 63.2% | 77.4% | 86.5% |
| Operating Margin | 18.0% | 18.0% | 9.0% | -147.2% | 35.3% | 61.6% | 4.6% | 6.9% | 10.5% | 6.3% | 22.1% |
| Net Profit Margin | 12.6% | 12.6% | 6.8% | -126.4% | 26.4% | 45.4% | 4.1% | 5.9% | 10.1% | 13.5% | 25.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 6.5% | 6.5% | 3.7% | -51.7% | 16.9% | 61.9% | 1.4% | 2.6% | 4.6% | 5.8% | 14.1% |
| ROA | 0.7% | 0.7% | 0.4% | -4.8% | 1.7% | 7.0% | 0.2% | 0.3% | 0.4% | 0.5% | 1.2% |
| ROIC | 3.9% | 3.9% | 1.9% | -24.0% | 10.1% | 34.3% | 0.5% | 0.8% | 1.3% | 0.9% | 4.2% |
| ROCE | 5.0% | 5.0% | 2.8% | -34.8% | 12.6% | 46.1% | 0.7% | 1.1% | 1.7% | 1.1% | 5.5% |
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 | 0.85 | 0.85 | 0.67 | 1.13 | 0.67 | 0.77 | 0.91 | 1.53 | 1.79 | 1.85 | 0.75 |
| Debt / EBITDA | 7.60 | 7.60 | 8.05 | — | 3.96 | 0.89 | 25.38 | 29.87 | 27.81 | 43.19 | 6.27 |
| Net Debt / Equity | — | 0.20 | -0.05 | -0.45 | 0.10 | 0.55 | 0.66 | 1.12 | 1.38 | 1.46 | 0.30 |
| Net Debt / EBITDA | 1.78 | 1.78 | -0.58 | — | 0.59 | 0.64 | 18.52 | 21.86 | 21.38 | 34.23 | 2.50 |
| Debt / FCF | — | 3.02 | -2.62 | -12.69 | 0.67 | 1.29 | 8.54 | 14.60 | 11.42 | 2.70 | — |
| Interest Coverage | 0.47 | 0.47 | 0.19 | -1.81 | 2.14 | 14.98 | 0.22 | 0.20 | 0.34 | 0.32 | 1.69 |
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 | 0.26 | 0.26 | 0.18 | 0.24 | 0.22 | 0.20 | 0.24 | 0.23 | 0.30 | 0.40 | 0.31 |
| Quick Ratio | 0.26 | 0.26 | 0.18 | 0.24 | 0.22 | 0.20 | 0.24 | 0.23 | 0.30 | 0.40 | 0.31 |
| Cash Ratio | 0.08 | 0.08 | 0.09 | 0.16 | 0.07 | 0.03 | 0.04 | 0.07 | 0.05 | 0.05 | 0.05 |
| Asset Turnover | — | 0.05 | 0.06 | 0.04 | 0.04 | 0.14 | 0.04 | 0.05 | 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 | 2.3% | 2.1% | 2.6% | 2.5% | 5.3% | 5.2% | 0.7% | 0.8% | 2.0% | 1.0% | 1.0% |
| Payout Ratio | 27.9% | 27.9% | 53.8% | — | 28.4% | 19.7% | 94.2% | 66.3% | 72.0% | 44.5% | 18.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.7% | 6.1% | 3.4% | — | 5.3% | 4.8% | — | 0.3% | 2.8% | 2.3% | 11.2% |
| FCF Yield | 8.6% | 7.6% | 2.5% | 6.3% | 25.5% | 19.8% | 4.1% | 3.4% | 6.9% | 21.8% | — |
| Buyback Yield | 6.9% | 6.1% | 0.0% | 0.0% | 0.4% | 4.4% | 0.8% | 0.1% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 9.1% | 8.1% | 2.6% | 2.5% | 5.7% | 9.6% | 1.4% | 0.8% | 2.0% | 1.0% | 1.0% |
| Shares Outstanding | — | $160M | $169M | $143M | $143M | $117M | $117M | $119M | $124M | $122M | $120M |
Includes 30+ ratios · 25 years · Updated daily
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Quick answers to the most common questions about buying BANC stock.
Banc of California, Inc.'s current P/E ratio is 15.0x. The historical average is 44.2x. This places it at the 18th percentile of its historical range.
Banc of California, Inc.'s current EV/EBITDA is 8.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 47.2x.
Banc of California, Inc.'s return on equity (ROE) is 6.5%. The historical average is 5.0%.
Based on historical data, Banc of California, Inc. is trading at a P/E of 15.0x. This is at the 18th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Banc of California, Inc.'s current dividend yield is 2.25% with a payout ratio of 27.9%.
Banc of California, Inc. has 58.7% gross margin and 18.0% operating margin. Operating margin between 10-20% is typical for established companies.
Banc of California, Inc.'s Debt/EBITDA ratio is 7.6x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
California CRE concentration risk
Metrics are mathematically derived from official filings.
Discount Reflecting Repositioning Uncertainty
BANC trades at 0.84x book value, a steep discount to peers like EWBC at 2.03x, per market data, implying the market prices in execution risk and California CRE exposure.
The P/B discount suggests investors are skeptical of the post-merger integration and the recent strategic repositioning. With a reported ROE of -7.1% in Q2 2026, the market may be valuing BANC as a commodity balance sheet rather than a franchise. The tangible book value per share of $18.51 versus a price of $18.64 indicates the market is paying roughly book value for tangible assets, leaving little premium for future earnings power.
ROE Collapses on Repositioning Charges
ROE swung to -7.1% in Q2 2026 from 2.0% in Q1, per company filings, as the strategic repositioning drove a net loss, underscoring the earnings shock from one-time charges.
The DuPont decomposition reveals that the negative ROE is driven by a sharp decline in asset utilization, as NIM remains stuck at 0.7% and the efficiency ratio spiked to 102.3%. The provision expense of $161.8M in Q2 2026, as reported, overwhelmed net interest income, highlighting the impact of credit costs on profitability. Excluding the one-time charges, the underlying ROE appears to be in the low single digits, suggesting a structurally low return on equity relative to peers like WAL at 12.5%.
NIM Stagnant, Efficiency Deteriorates
Net interest margin remained flat at 0.7% for ten consecutive quarters, as per financial statements, while the efficiency ratio deteriorated to 102.3% in Q2 2026 from 41.0% in Q1, reflecting the impact of repositioning costs.
The flat NIM suggests that the bank's asset yields and funding costs are moving in tandem, with no spread expansion despite the rate environment. The efficiency ratio spike is largely due to the one-time charges, but even the pre-repositioning ratio of around 40% indicates a relatively efficient cost structure. However, the low NIM implies that the bank is not generating sufficient spread income to cover its operating expenses, which may indicate a structural challenge in its funding mix or loan pricing.
Equity Cushion Thins on Losses
Equity fell to $3.2B in Q2 2026 from $3.6B in Q1, per company data, as the net loss eroded capital, though the equity-to-assets ratio remains near 9%.
The decline in equity is a direct result of the $240.2M net loss in Q2 2026, which reduced the capital base. The equity-to-assets ratio of 9% is within the normal range for regional banks, but the loss may pressure regulatory capital ratios, particularly CET1. Investors should monitor whether the bank can rebuild capital through retained earnings, as the dividend was maintained despite the loss, which may slow the recovery.
Provision Spike Signals CRE Stress
Loan loss provisions surged to $161.8M in Q2 2026 from $9.8M in Q1, as reported in financial statements, reflecting heightened credit risk likely tied to Southern California commercial real estate.
The provision spike is a clear indicator of deteriorating asset quality, particularly in the CRE portfolio. The bank's concentration in California CRE, as noted in the business drivers, makes it vulnerable to property value declines. The allowance for credit losses may need to be increased further if the CRE market continues to weaken, which could lead to additional provisions and pressure on future earnings.
P/E Misleading Due to Provision Volatility
The P/E ratio of 15.80 is distorted by the Q2 2026 net loss, as per reported figures, making it an unreliable valuation metric for BANC given the one-time charges and provision volatility.
For banks, P/E can be misleading when earnings are volatile due to provisions or one-time items. BANC's P/E is based on trailing earnings that include the large loss, which may not reflect normalized earnings power. A better approach is to use P/B or P/TBV, which are more stable and reflect the bank's underlying asset quality. Additionally, investors should adjust for purchase accounting accretion and other non-core items to assess the true earnings capacity.