Latest Ratios: P/E Ratio 11.2x · EV/EBITDA 7.6x · ROE 11.6%. (2005–2025 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 | $692M | $611M | $407M | $324M | $307M | $224M | $124M | $110M | $97M | $79M | $50M |
| Enterprise Value | $712M | $631M | $435M | $406M | $325M | $231M | $151M | $135M | $146M | $106M | $56M |
| P/E Ratio → | 11.15 | 9.67 | 75.18 | 12.48 | 19.12 | 20.82 | 26.02 | 16.35 | 18.59 | 19.93 | 16.67 |
| P/S Ratio | 3.84 | 3.39 | 3.19 | 3.32 | 3.33 | 3.28 | 2.56 | 3.35 | 3.10 | 3.68 | 2.75 |
| P/B Ratio | 1.22 | 1.06 | 0.80 | 1.12 | 1.18 | 0.91 | 0.73 | 0.91 | 0.96 | 1.59 | 1.12 |
| P/FCF | 12.16 | 10.74 | 8.19 | 9.87 | 25.00 | 12.49 | 11.68 | 15.36 | 14.34 | 26.08 | — |
| P/OCF | 12.08 | 10.67 | 8.10 | 9.78 | 22.98 | 11.38 | 10.01 | 13.14 | 13.08 | 21.22 | 12.67 |
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 | — | 3.50 | 3.40 | 4.16 | 3.53 | 3.38 | 3.13 | 4.12 | 4.65 | 4.95 | 3.09 |
| EV / EBITDA | 7.61 | 6.74 | 36.54 | 10.46 | 13.56 | 14.49 | 18.42 | 12.33 | 102.21 | 5.80 | 9.96 |
| EV / EBIT | 8.09 | 7.17 | 52.62 | 11.01 | 14.80 | 16.25 | 22.37 | 13.96 | 19.35 | 15.28 | 11.09 |
| EV / FCF | — | 11.08 | 8.74 | 12.37 | 26.51 | 12.88 | 14.29 | 18.86 | 21.51 | 35.11 | — |
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 | 79.7% | 79.7% | 57.5% | 76.1% | 88.0% | 93.6% | 80.8% | 80.2% | 100.0% | 100.0% | 100.0% |
| Operating Margin | 37.1% | 37.1% | 4.5% | 29.0% | 22.4% | 19.8% | 12.5% | 24.4% | 2.0% | 83.3% | 28.4% |
| Net Profit Margin | 26.6% | 26.6% | 2.9% | 20.4% | 16.4% | 15.0% | 8.7% | 17.1% | 16.8% | 18.4% | 16.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 11.6% | 11.6% | 1.4% | 9.4% | 6.4% | 5.2% | 3.3% | 6.1% | 7.0% | 8.4% | 7.3% |
| ROA | 1.6% | 1.6% | 0.2% | 1.1% | 0.7% | 0.6% | 0.4% | 0.8% | 0.8% | 0.9% | 0.8% |
| ROIC | 10.6% | 10.6% | 1.2% | 7.4% | 5.4% | 4.4% | 2.8% | 5.0% | 0.5% | 23.5% | 8.7% |
| ROCE | 5.0% | 5.0% | 1.6% | 9.6% | 6.8% | 4.2% | 2.5% | 2.8% | 0.2% | 6.8% | 2.6% |
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 | 0.12 | 0.12 | 0.17 | 0.40 | 0.30 | 0.12 | 0.23 | 0.29 | 0.35 | 0.40 | — |
| Debt / EBITDA | 0.77 | 0.77 | 7.40 | 2.97 | 3.29 | 1.85 | 4.82 | 3.19 | 24.55 | 1.09 | — |
| Net Debt / Equity | — | 0.03 | 0.05 | 0.28 | 0.07 | 0.03 | 0.16 | 0.21 | 0.48 | 0.55 | 0.14 |
| Net Debt / EBITDA | 0.21 | 0.21 | 2.32 | 2.11 | 0.77 | 0.44 | 3.37 | 2.29 | 34.04 | 1.49 | 1.10 |
| Debt / FCF | — | 0.35 | 0.55 | 2.50 | 1.51 | 0.39 | 2.62 | 3.51 | 7.16 | 9.03 | — |
| Interest Coverage | 1.55 | 1.55 | 0.15 | 1.25 | 3.80 | 4.22 | 1.15 | 1.42 | 72.38 | 3006.34 | 622.27 |
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 | 0.24 | 0.24 | 0.06 | 0.08 | 0.09 | 0.04 | 0.03 | 0.04 | 0.29 | 0.21 | 0.38 |
| Quick Ratio | 0.24 | 0.24 | 0.06 | 0.08 | 0.09 | 0.04 | 0.03 | 0.04 | 0.29 | 0.21 | 0.38 |
| Cash Ratio | 0.04 | 0.04 | 0.02 | 0.02 | 0.03 | 0.01 | 0.01 | 0.01 | -0.06 | -0.04 | -0.03 |
| Asset Turnover | — | 0.06 | 0.05 | 0.05 | 0.04 | 0.03 | 0.03 | 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 | 0.5% | 0.5% | — | — | — | — | — | — | — | — | — |
| Payout Ratio | 5.2% | 5.2% | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 9.0% | 10.3% | 1.3% | 8.0% | 5.2% | 4.8% | 3.8% | 6.1% | 5.4% | 5.0% | 6.0% |
| FCF Yield | 8.2% | 9.3% | 12.2% | 10.1% | 4.0% | 8.0% | 8.6% | 6.5% | 7.0% | 3.8% | — |
| Buyback Yield | 0.9% | 1.0% | 0.5% | 0.3% | 0.2% | 1.6% | 0.0% | 0.0% | 0.0% | 0.0% | 5.5% |
| Total Shareholder Yield | 1.3% | 1.5% | 0.5% | 0.3% | 0.2% | 1.6% | 0.0% | 0.0% | 0.0% | 0.0% | 5.5% |
| Shares Outstanding | — | $33M | $25M | $19M | $18M | $15M | $10M | $9M | $7M | $5M | $4M |
Includes 30+ ratios · 21 years · Updated daily
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Quick answers to the most common questions about buying BCAL stock.
California BanCorp's current P/E ratio is 11.2x. The historical average is 21.0x. This places it at the 13th percentile of its historical range.
California BanCorp's current EV/EBITDA is 7.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 14.7x.
California BanCorp's return on equity (ROE) is 11.6%. The historical average is 2.0%.
Based on historical data, California BanCorp is trading at a P/E of 11.2x. This is at the 13th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
California BanCorp's current dividend yield is 0.46% with a payout ratio of 5.2%.
California BanCorp has 79.7% gross margin and 37.1% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
California BanCorp's Debt/EBITDA ratio is 0.8x, indicating low leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
California CRE concentration risk
Metrics are mathematically derived from official filings.
Premium Pricing for Growth Trajectory
BCAL trades at 1.21x book and 11.1x trailing earnings, a premium to peers like BANC at 0.84x, reflecting market confidence in its post-merger expansion, as per recent market data.
The P/B of 1.21x is above the peer median of approximately 1.18x, suggesting investors are pricing in above-average returns on equity. However, the forward P/E of 12.4x implies a slight de-rating, possibly due to anticipated normalization of growth. The PEG of 0.35 indicates that the market expects sustained earnings growth, but this hinges on the bank's ability to maintain credit quality and integrate recent acquisitions.
ROE Recovery Masks Structural Leverage
ROE improved to 2.5% in 2026Q2 from a loss in 2024Q3, but remains low due to a thin equity base of 0.15% of assets, as reported in financial statements, indicating high leverage.
The DuPont decomposition shows that ROE is driven primarily by asset utilization (NIM of 1.1%) and high leverage (equity/assets of 0.15%), rather than by strong margins. The efficiency ratio of 43.0% is healthy, but the low NIM suggests that the bank's funding advantage is not fully offsetting asset yield pressures. The recent improvement in ROE is a positive sign, but the absolute level remains below peers like HAFC (11.2% ROE), indicating that BCAL's profitability is still recovering from merger-related costs.
NIM Stability Amid Deposit Cost Pressures
Net interest margin held at 1.1% in 2026Q2, unchanged from the prior quarter, while the efficiency ratio improved to 43.0% from 45.6%, according to recent quarterly data, indicating stable funding costs.
The stability of NIM suggests that the bank's low-cost deposit base, particularly non-interest-bearing accounts, is providing a buffer against rising deposit costs. However, the efficiency ratio improvement is partly due to revenue growth outpacing expense growth, which may not be sustainable if loan growth slows. Investors should monitor the deposit beta, as a higher-for-longer rate environment could compress NIM if deposit costs rise faster than asset yields.
Thin Capital Base Limits Flexibility
Equity to assets stood at 0.15% in 2026Q2, up from 0.13% in 2024Q1, but remains extremely low, as per balance sheet data, suggesting limited capacity for capital return.
The equity-to-assets ratio of 0.15% is far below the typical 8-10% for regional banks, indicating a highly leveraged balance sheet. While this amplifies ROE, it also increases vulnerability to asset quality deterioration. The recent improvement in capital ratios is modest, and the bank's ability to return capital to shareholders is constrained. Regulatory minimums for CET1 are not disclosed, but the thin capital buffer suggests that any significant credit losses could erode capital quickly.
Credit Improvement but CRE Risk Lingers
Nonperforming assets to total assets fell to 0.44% from 0.97% in 2026Q2, according to recent disclosures, indicating improved credit quality, though California CRE concentration remains a concern.
The sharp decline in NPAs suggests that the bank's credit metrics are improving, possibly due to successful workout of problem loans. However, the bank's heavy exposure to California office and retail CRE, as noted in recent context flags, could reverse this trend if property values decline. The provision expense of $714K in 2026Q2 is minimal, which may indicate that the bank is not building reserves for potential future losses, leaving it exposed to a downturn.
P/E Misleads Due to Provision Volatility
The P/E ratio of 11.1x is misleading for BCAL because earnings are volatile due to merger-related costs and CECL provisions, as per recent financial data, obscuring core profitability.
The P/E ratio is commonly misapplied to banks because it can be distorted by one-time items and provision volatility. For BCAL, the 2024Q3 net loss and subsequent recovery highlight this issue. A more appropriate metric is P/TBV, which at 1.21x provides a clearer picture of valuation relative to tangible book value. Additionally, investors should focus on pre-provision net revenue (PPNR) to assess core earnings power, as provisions can fluctuate significantly with economic forecasts.