Latest Ratios: P/E Ratio 10.9x · EV/EBITDA 12.5x · ROE 10.6%. (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 | $981M | $736M | $625M | $550M | $613M | $721M | $538M | $712M | $562M | $657M | $689M |
| Enterprise Value | $1.5B | $1.3B | $955M | $980M | $847M | $756M | $639M | $974M | $837M | $1.2B | $1.2B |
| P/E Ratio → | 10.90 | 11.30 | 11.81 | 12.67 | 10.00 | 10.47 | 9.06 | 12.48 | 10.58 | 23.15 | 17.30 |
| P/S Ratio | 4.06 | 2.94 | 3.62 | 3.52 | 3.33 | 3.94 | 2.94 | 4.28 | 3.62 | 4.35 | 4.63 |
| P/B Ratio | 1.41 | 1.06 | 1.18 | 1.11 | 1.36 | 1.33 | 1.02 | 1.50 | 1.29 | 1.63 | 1.76 |
| P/FCF | 9.77 | 12.64 | 11.30 | 8.47 | 5.95 | 5.12 | 35.13 | 24.88 | 9.48 | 11.83 | 12.36 |
| P/OCF | 15.36 | 11.51 | 10.26 | 8.14 | 5.83 | 5.05 | 29.49 | 21.65 | 8.74 | 11.26 | 12.00 |
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 | — | 5.13 | 5.54 | 6.27 | 4.61 | 4.14 | 3.49 | 5.86 | 5.38 | 7.71 | 8.07 |
| EV / EBITDA | 12.53 | 13.83 | 13.78 | 16.95 | 10.44 | 8.31 | 8.09 | 12.79 | 11.91 | 17.16 | 18.81 |
| EV / EBIT | 18.72 | 15.71 | 14.60 | 18.20 | 10.99 | 8.73 | 8.58 | 13.61 | 12.72 | 18.69 | 20.87 |
| EV / FCF | — | 22.04 | 17.26 | 15.10 | 8.22 | 5.37 | 41.72 | 34.05 | 14.10 | 21.00 | 21.55 |
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 | 92.3% | 92.3% | 99.7% | 99.8% | 97.6% | 101.7% | 93.2% | 98.3% | 99.5% | 98.0% | 96.5% |
| Operating Margin | 32.7% | 32.7% | 37.9% | 34.4% | 41.9% | 47.4% | 40.6% | 43.1% | 42.3% | 41.3% | 38.6% |
| Net Profit Margin | 26.1% | 26.1% | 30.7% | 27.8% | 33.4% | 37.7% | 32.5% | 34.4% | 34.2% | 18.8% | 26.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 10.6% | 10.6% | 10.3% | 9.2% | 12.4% | 12.9% | 11.9% | 12.6% | 12.6% | 7.2% | 10.6% |
| ROA | 1.0% | 1.0% | 0.9% | 0.8% | 1.1% | 1.3% | 1.3% | 1.3% | 1.3% | 0.7% | 1.1% |
| ROIC | 5.1% | 5.1% | 4.7% | 4.5% | 7.4% | 8.3% | 7.0% | 6.8% | 5.5% | 4.7% | 4.5% |
| ROCE | 2.3% | 2.3% | 10.8% | 10.4% | 14.3% | 14.4% | 12.9% | 13.6% | 13.4% | 13.4% | 12.6% |
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 | 0.92 | 0.92 | 1.03 | 1.07 | 0.69 | 0.47 | 0.47 | 0.71 | 0.78 | 1.52 | 1.53 |
| Debt / EBITDA | 6.95 | 6.95 | 7.86 | 9.17 | 3.81 | 2.81 | 3.13 | 4.44 | 4.86 | 9.00 | 9.39 |
| Net Debt / Equity | — | 0.79 | 0.62 | 0.87 | 0.52 | 0.07 | 0.19 | 0.55 | 0.63 | 1.26 | 1.31 |
| Net Debt / EBITDA | 5.90 | 5.90 | 4.76 | 7.44 | 2.88 | 0.39 | 1.28 | 3.44 | 3.91 | 7.49 | 8.02 |
| Debt / FCF | — | 9.39 | 5.96 | 6.63 | 2.27 | 0.25 | 6.60 | 9.17 | 4.63 | 9.16 | 9.18 |
| Interest Coverage | 0.70 | 0.70 | 0.56 | 0.57 | 3.07 | 7.84 | 3.56 | 1.75 | 2.12 | 3.00 | 3.48 |
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 | 1.77 | 1.77 | 0.15 | 0.14 | 0.15 | 0.35 | 0.29 | 0.26 | 0.26 | 0.25 | 0.26 |
| Quick Ratio | 1.77 | 1.77 | 0.15 | 0.14 | 0.15 | 0.35 | 0.29 | 0.26 | 0.26 | 0.25 | 0.26 |
| Cash Ratio | 0.17 | 0.17 | 0.04 | 0.02 | 0.01 | 0.04 | 0.03 | 0.02 | 0.02 | 0.03 | 0.03 |
| Asset Turnover | — | 0.04 | 0.03 | 0.03 | 0.03 | 0.03 | 0.04 | 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 | 2.9% | 3.9% | 3.9% | 4.5% | 3.8% | 2.9% | 3.7% | 2.6% | 3.1% | 2.2% | 1.8% |
| Payout Ratio | 43.7% | 43.7% | 46.3% | 56.6% | 38.3% | 30.5% | 33.4% | 32.5% | 32.4% | 50.3% | 30.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 9.2% | 8.9% | 8.5% | 7.9% | 10.0% | 9.6% | 11.0% | 8.0% | 9.5% | 4.3% | 5.8% |
| FCF Yield | 10.2% | 7.9% | 8.9% | 11.8% | 16.8% | 19.5% | 2.8% | 4.0% | 10.6% | 8.4% | 8.1% |
| Buyback Yield | 0.0% | 0.0% | 0.3% | 0.4% | 1.7% | 1.4% | 1.8% | 2.9% | 0.0% | 0.0% | 0.8% |
| Total Shareholder Yield | 2.9% | 3.9% | 4.2% | 4.8% | 5.5% | 4.3% | 5.5% | 5.5% | 3.1% | 2.2% | 2.6% |
| Shares Outstanding | — | $17M | $15M | $15M | $15M | $15M | $15M | $15M | $16M | $16M | $16M |
Includes 30+ ratios · 30 years · Updated daily
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10-year return with dividends reinvested.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying CAC stock.
Camden National Corp.'s current P/E ratio is 10.9x. The historical average is 12.5x. This places it at the 28th percentile of its historical range.
Camden National Corp.'s current EV/EBITDA is 12.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 16.7x.
Camden National Corp.'s return on equity (ROE) is 10.6%. The historical average is 12.9%.
Based on historical data, Camden National Corp. is trading at a P/E of 10.9x. This is at the 28th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Camden National Corp.'s current dividend yield is 2.89% with a payout ratio of 43.7%.
Camden National Corp. has 92.3% gross margin and 32.7% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Camden National Corp.'s Debt/EBITDA ratio is 6.9x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Rate-sensitive mortgage expansion
Metrics are mathematically derived from official filings.
Premium Priced for Franchise Value
CAC trades at 1.38x book and 14.76x trailing earnings, a premium to peers like NECB (1.02x P/B) but justified by its 10.6% ROE and 3% dividend yield, per reported figures.
The market assigns a premium multiple to CAC relative to smaller Maine thrifts, reflecting its diversified wealth management and mortgage platforms. However, the forward P/E of 10.48 suggests expectations of significant earnings growth, which may be optimistic given the modest 3% loan growth. Investors should monitor whether the premium can be sustained if NIM compression persists.
ROE Recovery Masked by Thin NIM
ROE improved from 1.3% in Q1 2025 to 3.2% by Q2 2026, as reported in financial statements, but NIM remains thin at 0.8%, indicating profitability is driven by fee income and leverage rather than spread.
The DuPont decomposition reveals that CAC's ROE is supported by a high equity multiplier (10x) and non-interest income contribution, which rose to 14.7% of revenue in Q4 2025. However, the NIM of 0.8% is well below peers, suggesting limited pricing power on loans. The efficiency ratio spike to 48.2% in Q2 2026 indicates cost pressures that could erode profitability if revenue growth slows.
NIM Expansion Stalls, Efficiency Volatile
NIM improved from 0.5% in Q1 2024 to 0.8% by Q2 2026, according to quarterly data, but remains thin; efficiency ratio swung from 36.2% to 48.2% in the same period, signaling cost control challenges.
The NIM expansion reflects loan repricing and securities yields, but the absolute level is low, suggesting a high-cost funding base or a large low-yielding securities portfolio. The efficiency ratio's volatility, particularly the jump to 48.2% in Q2 2026, may indicate one-time costs or revenue disruptions. Management's focus on digital platforms could improve efficiency, but the branch-heavy model remains a drag.
Conservative Leverage Limits ROE
Equity/assets rose from 9% to 10% over the past ten quarters, as reported in balance sheet data, indicating a fortress balance sheet but also a drag on ROE relative to more leveraged peers.
CAC's low debt-to-equity ratio of 0.92% and equity/assets of 10% suggest ample capital headroom, but this conservative stance may underutilize the balance sheet. The 10.6% ROE is below the 12%+ of peers like FUNC, implying that capital is not being deployed as efficiently. Investors should watch whether management increases leverage or returns capital via dividends, which are currently at a 3% yield.
Credit Costs Normalize After Spike
Provision for credit losses fell to zero in Q2 2026 from a peak of $9.4M in Q1 2025, according to quarterly filings, suggesting the credit cycle peak has passed and reserves are adequate.
The normalization of provisions indicates that earlier concerns about asset quality have not materialized, but the zero provision level may be unsustainable if the economy weakens. The securities portfolio, which grew by $1.2B, may carry unrealized losses that could pressure capital if rates rise further. The expansion into Braintree, MA increases exposure to cyclical mortgage lending, which could elevate credit risk.
Premium Valuation vs. Regional Peers
CAC's P/B of 1.38x and P/E of 14.76x are above NECB (1.02x, 8.11x) and MNSB (0.88x, 14.35x), as per peer data, reflecting its diversified revenue and stable deposit base.
CAC trades at a premium to most peers, likely due to its wealth management segment and strong Maine franchise. However, its ROE of 10.6% is below FUNC's 12.7%, suggesting the premium may not be fully justified. The gap could narrow if CAC fails to improve NIM or control costs, making the stock vulnerable to de-rating.
P/E Misleads Due to Provision Volatility
CAC's P/E is distorted by volatile provisions, which swung from $9.4M in Q1 2025 to zero in Q2 2026, as reported in financial statements, making trailing earnings unreliable for valuation.
The P/E ratio is commonly misapplied to banks because provisions can cause earnings to fluctuate independently of core operations. For CAC, the provision spike in 2025 depressed earnings, inflating the P/E, while the recent zero provision boosts earnings, deflating it. A more appropriate metric is P/TBV, which at 1.38x reflects the market's valuation of tangible book value, or P/Pre-provision net revenue (PPNR) to isolate operating performance.