Last 47 quarters of trend data · Financial Services · Banks - Diversified
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Bank of Montreal's quarterly P/E stands at 10.0x, up 15.2% year-over-year — indicating the stock has re-rated higher or earnings have softened. EV/EBITDA has compressed 66.8% YoY to 9.6x, reflecting multiple compression or accelerating EBITDA.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 18.21 | 10.04 | 10.56 | 8.79 | 9.55 | 8.72 | 7.72 | 8.50 | 9.46 | 13.61 | 9.17 | 10.96 | 17.89 |
| — | +15.2% | +36.7% | +3.4% | +0.9% | -35.9% | -15.8% | -22.4% | -47.1% | -92.4% | +158.9% | -15.1% | +381.3% | |
| P/S Ratio | 1.89 | 2.66 | 1.16 | 1.04 | 0.90 | 0.88 | 0.84 | 0.75 | 0.83 | 0.91 | 0.72 | 0.93 | 0.96 |
| — | +201.8% | +38.6% | +37.9% | +8.3% | -2.9% | +17.3% | -18.8% | -13.5% | -25.0% | -46.5% | -46.6% | -59.7% | |
| P/B Ratio | 1.71 | 1.13 | 1.02 | 0.92 | 0.81 | 0.82 | 0.79 | 0.74 | 0.82 | 0.88 | 0.71 | 0.90 | 0.84 |
| — | +36.9% | +29.4% | +23.6% | -1.3% | -6.7% | +10.2% | -17.3% | -3.1% | -5.1% | -19.9% | -11.6% | -20.8% | |
| P/FCF | 17.36 | 3.48 | 1.83 | — | — | 4.02 | 3.88 | 9.54 | 4.45 | 1.09 | 4.50 | 1.61 | — |
| — | -13.5% | -52.9% | — | — | +267.5% | -13.8% | +491.3% | — | +22.2% | +393.3% | — | — | |
| EV / EBITDA | 35.88 | 9.57 | 30.29 | 28.38 | 31.38 | 28.85 | 26.26 | 30.41 | 30.42 | 38.91 | 29.51 | 31.06 | 44.77 |
| — | -66.8% | +15.3% | -6.7% | +3.2% | -25.8% | -11.0% | -2.1% | -32.1% | -55.7% | +151.2% | -27.1% | +308.4% | |
| EV / EBIT | 42.65 | 12.04 | 35.87 | 33.28 | 37.93 | 34.41 | 30.83 | 36.99 | 37.00 | 51.41 | 37.59 | 39.66 | 64.74 |
| — | -65.0% | +16.3% | -10.0% | +2.5% | -33.1% | -18.0% | -6.7% | -42.9% | -66.9% | +200.8% | -23.6% | +458.7% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Bank of Montreal's operating margin was 42.8% in Q1 2026, up 27.1 pp QoQ and up 29.0 pp YoY. The trailing four-quarter average of 22.0% lags the current quarter, suggesting the recent improvement is above-trend. Gross margin expanded 149.1% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 41.6% | 100.0% | 44.1% | 42.5% | 39.6% | 40.1% | 34.4% | 35.4% | 36.9% | 37.4% | 41.5% | 42.1% | 44.4% |
| — | +149.1% | +28.1% | +19.9% | +7.5% | +7.4% | -17.1% | -15.8% | -16.9% | -21.2% | -21.5% | -39.5% | -42.5% | |
| Operating Margin | 14.8% | 42.8% | 15.7% | 16.1% | 13.5% | 13.8% | 15.2% | 12.0% | 12.4% | 8.8% | 11.5% | 11.1% | 7.6% |
| — | +209.4% | +3.2% | +34.5% | +9.3% | +56.9% | +32.8% | +8.1% | +63.6% | +153.9% | -77.1% | -35.9% | -91.3% | |
| Net Margin | 11.1% | 27.4% | 11.9% | 12.1% | 10.2% | 10.4% | 11.7% | 9.1% | 9.5% | 6.9% | 8.5% | 8.7% | 6.1% |
| — | +162.7% | +1.8% | +33.1% | +7.1% | +52.0% | +37.4% | +4.8% | +54.8% | +643.5% | -77.6% | -37.6% | -90.5% |
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 10.1% | 2.9% | 2.6% | 2.7% | 2.3% | 2.5% | 2.8% | 2.3% | 2.4% | 1.7% | 2.1% | 2.1% | 1.4% |
| — | +15.4% | -4.9% | +17.5% | -4.8% | +47.6% | +28.5% | +10.3% | +74.7% | +822.6% | -67.0% | +1.0% | -82.1% | |
| ROA | 0.6% | 0.2% | 0.2% | 0.2% | 0.1% | 0.1% | 0.2% | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% |
| — | +14.4% | -4.0% | +20.6% | -2.3% | +53.5% | +32.0% | +7.4% | +61.2% | +732.8% | -69.4% | -3.3% | -81.4% | |
| ROIC | 1.8% | 0.8% | 0.5% | 0.5% | 0.4% | 0.5% | 0.5% | 0.4% | 0.4% | 0.3% | 0.4% | 0.4% | 0.2% |
| — | +80.3% | -5.8% | +20.6% | -1.3% | +55.8% | +26.2% | +10.1% | +81.3% | +216.9% | -64.0% | +13.8% | -82.6% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Bank of Montreal's Debt/EBITDA ratio is 31.2x, down from 115.7x last quarter — elevated, raising questions about debt serviceability.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 4.71 | 1.50 | 4.71 | 4.54 | 4.60 | 4.53 | 4.43 | 4.57 | 4.75 | 4.54 | 4.66 | 4.51 | 4.43 |
| — | -66.8% | +6.4% | -0.6% | -3.2% | -0.3% | -5.0% | +1.2% | +7.2% | -2.6% | +1.4% | -16.0% | -4.1% | |
| Debt / EBITDA | 30.24 | 31.18 | 115.72 | 108.87 | 125.27 | 117.68 | 105.70 | 127.26 | 128.16 | 160.49 | 128.01 | 131.88 | 184.28 |
| — | -73.5% | +9.5% | -14.4% | -2.3% | -26.7% | -17.4% | -3.5% | -30.5% | -59.4% | +147.6% | -24.6% | +309.1% | |
| Current Ratio | 0.14 | — | 0.14 | 0.20 | 0.21 | 0.20 | 0.14 | 0.18 | 0.18 | 0.16 | 0.20 | 0.15 | 0.14 |
| — | — | -2.9% | +9.0% | +14.7% | +28.9% | -28.9% | +18.7% | +28.1% | -18.4% | +18.4% | -3.4% | -6.2% | |
| Quick Ratio | 0.14 | — | 0.14 | 0.20 | 0.21 | 0.20 | 0.14 | 0.18 | 0.18 | 0.16 | 0.20 | 0.15 | 0.14 |
| — | — | -2.9% | +9.0% | +14.7% | +28.9% | -28.9% | +18.7% | +28.1% | -18.4% | +18.4% | -3.4% | -6.2% | |
| Interest Coverage | 0.27 | 0.41 | 0.30 | 0.30 | 0.25 | 0.25 | 0.26 | 0.20 | 0.21 | 0.15 | 0.20 | 0.20 | 0.14 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 47 years · Updated daily
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Bank of Montreal's current P/E is 18.2x. The average P/E over the last 4 quarters is 9.7x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Bank of Montreal's current operating margin is 14.8%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Bank of Montreal's business trajectory between earnings reports.