City Holding Company (CHCO) Financial Ratios
30 years of historical data (1996–2025) · Financial Services · Banks - Regional
EV/EBITDA
↑
12.42
+13% vs avg
5yr avg: 11.00
30Y Low5.9·High28.9
P/FCF
↑
13.71
+7% vs avg
5yr avg: 12.78
30Y Low0.7·High31.9
P/B Ratio
↑
2.18
-3% vs avg
5yr avg: 2.23
30Y Low0.4·High3.1
ROE
↑
16.9%
↓+5% vs avg
5yr avg: 16.2%
30Y Low-14%·High28%
Debt/EBITDA
↑
3.02
+13% vs avg
5yr avg: 2.68
30Y Low1.8·High19.7
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
CHCO Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
City Holding Company trades at 13.7x earnings, roughly in line with its 5-year average of 14.2x, sitting at the 43rd percentile of its historical range. This is roughly in line with the Financial Services sector median P/E of 13.1x. On a free-cash-flow basis, the stock trades at 13.7x P/FCF, 7% above the 5-year average of 12.8x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.8B | $1.7B | $1.7B | $1.6B | $1.4B | $1.3B | $1.1B | $1.3B | $1.0B | $1.0B | $1.0B |
| Enterprise Value | $2.1B | $2.1B | $2.0B | $1.9B | $1.5B | $938M | $880M | $1.4B | $1.2B | $1.2B | $1.2B |
| P/E Ratio → | 13.73 | 13.33 | 15.02 | 14.49 | 13.69 | 14.45 | 12.53 | 15.12 | 14.92 | 19.39 | 19.59 |
| P/S Ratio | 4.49 | 4.37 | 4.69 | 4.91 | 5.41 | 5.51 | 4.36 | 5.14 | 4.74 | 5.14 | 5.40 |
| P/B Ratio | 2.18 | 2.11 | 2.38 | 2.42 | 2.40 | 1.85 | 1.59 | 2.03 | 1.73 | 2.07 | 2.28 |
| P/FCF | 13.71 | 13.33 | 13.48 | 12.20 | 12.18 | 12.74 | 13.20 | 13.34 | 15.49 | 14.97 | 16.85 |
| P/OCF | 13.41 | 13.03 | 13.20 | 11.93 | 11.95 | 12.32 | 12.39 | 12.74 | 13.45 | 13.68 | 15.43 |
P/E links to full P/E history page with 30-year chart
CHCO EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
City Holding Company's enterprise value stands at 12.4x EBITDA, 13% above its 5-year average of 11.0x. The Financial Services sector median is 11.5x, placing the stock at a 8% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 5.30 | 5.36 | 5.74 | 5.77 | 4.10 | 3.45 | 5.42 | 5.39 | 6.06 | 6.35 |
| EV / EBITDA | 12.42 | 12.14 | 12.63 | 12.48 | 10.31 | 7.46 | 7.21 | 11.86 | 12.57 | 12.57 | 14.06 |
| EV / EBIT | 13.08 | 12.78 | 13.78 | 13.42 | 11.59 | 8.44 | 7.90 | 12.46 | 13.48 | 13.53 | 15.34 |
| EV / FCF | — | 16.18 | 15.42 | 14.27 | 12.98 | 9.48 | 10.44 | 14.09 | 17.61 | 17.65 | 19.81 |
CHCO Profitability
Margins and return-on-capital ratios measuring operating efficiency
City Holding Company earns an operating margin of 41.5%, significantly above the Financial Services sector average of 21.6%. Operating margins have compressed from 42.8% to 41.5% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 16.9% indicates solid capital efficiency, compared to the sector median of 9.4%. ROIC of 9.6% represents adequate returns on invested capital versus a sector median of 5.7%.
Margins
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 | 79.0% | 79.0% | 76.3% | 83.5% | 96.0% | 97.1% | 86.5% | 86.5% | 89.4% | 90.2% | 90.6% |
| Operating Margin | 41.5% | 41.5% | 38.9% | 42.8% | 49.8% | 48.6% | 43.6% | 43.5% | 40.0% | 44.8% | 41.4% |
| Net Profit Margin | 33.3% | 33.3% | 31.5% | 34.2% | 39.9% | 38.5% | 35.1% | 34.3% | 31.8% | 26.8% | 27.9% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 16.9% | 16.9% | 16.6% | 18.2% | 16.2% | 12.7% | 13.2% | 14.2% | 12.7% | 11.5% | 12.1% |
| ROA | 2.0% | 2.0% | 1.9% | 1.9% | 1.7% | 1.5% | 1.7% | 1.8% | 1.5% | 1.3% | 1.4% |
| ROIC | 9.6% | 9.6% | 9.4% | 10.8% | 10.3% | 8.4% | 8.9% | 9.8% | 8.0% | 9.2% | 8.9% |
| ROCE | 7.1% | 7.1% | 15.3% | 17.7% | 17.2% | 14.1% | 14.4% | 16.3% | 14.3% | 17.2% | 16.0% |
CHCO Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
City Holding Company carries a Debt/EBITDA ratio of 3.0x, which is moderately leveraged (27% below the sector average of 4.1x). Net debt stands at $366M ($518M total debt minus $152M cash). Interest coverage of just 1.9x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.64 | 0.64 | 0.65 | 0.64 | 0.50 | 0.46 | 0.42 | 0.33 | 0.44 | 0.53 | 0.60 |
| Debt / EBITDA | 3.02 | 3.02 | 3.02 | 2.83 | 2.03 | 2.48 | 2.43 | 1.81 | 2.82 | 2.75 | 3.14 |
| Net Debt / Equity | — | 0.45 | 0.34 | 0.41 | 0.16 | -0.47 | -0.33 | 0.11 | 0.24 | 0.37 | 0.40 |
| Net Debt / EBITDA | 2.13 | 2.13 | 1.59 | 1.81 | 0.64 | -2.56 | -1.91 | 0.63 | 1.51 | 1.91 | 2.10 |
| Debt / FCF | — | 2.85 | 1.94 | 2.07 | 0.80 | -3.26 | -2.76 | 0.75 | 2.12 | 2.68 | 2.95 |
| Interest Coverage | 1.92 | 1.92 | 1.68 | 2.75 | 13.19 | 11.24 | 4.71 | 3.12 | 3.43 | 5.40 | 5.85 |
CHCO Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.03x is below 1.0, meaning current liabilities exceed current assets. The current ratio has declined from 0.29x to 0.03x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.03 | 0.03 | 0.05 | 0.29 | 0.33 | 0.39 | 0.35 | 0.22 | 0.20 | 0.18 | 0.16 |
| Quick Ratio | 0.03 | 0.03 | 0.05 | 0.29 | 0.33 | 0.39 | 0.35 | 0.22 | 0.20 | 0.18 | 0.16 |
| Cash Ratio | 0.05 | 0.05 | 0.04 | 0.03 | 0.04 | 0.12 | 0.11 | 0.03 | 0.03 | 0.02 | 0.03 |
| Asset Turnover | — | 0.06 | 0.06 | 0.05 | 0.04 | 0.04 | 0.04 | 0.05 | 0.04 | 0.05 | 0.05 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
CHCO Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
City Holding Company returns 5.3% to shareholders annually — split between a 2.7% dividend yield and 2.6% buyback yield. The payout ratio of 36.2% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 7.3% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
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 | 2.7% | 2.8% | 2.5% | 2.4% | 2.7% | 2.9% | 3.3% | 2.7% | 2.8% | 2.6% | 2.6% |
| Payout Ratio | 36.2% | 36.2% | 37.1% | 35.0% | 36.0% | 41.0% | 40.9% | 39.8% | 42.3% | 49.9% | 49.3% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 7.3% | 7.5% | 6.7% | 6.9% | 7.3% | 6.9% | 8.0% | 6.6% | 6.7% | 5.2% | 5.1% |
| FCF Yield | 7.3% | 7.5% | 7.4% | 8.2% | 8.2% | 7.9% | 7.6% | 7.5% | 6.5% | 6.7% | 5.9% |
| Buyback Yield | 2.6% | 2.7% | 1.0% | 3.7% | 1.9% | 4.7% | 3.3% | 1.5% | 1.9% | 0.0% | 1.0% |
| Total Shareholder Yield | 5.3% | 5.4% | 3.5% | 6.1% | 4.6% | 7.5% | 6.6% | 4.1% | 4.8% | 2.6% | 3.5% |
| Shares Outstanding | — | $14M | $15M | $15M | $15M | $15M | $16M | $16M | $15M | $15M | $15M |
Peer Comparison
Compare CHCO with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 CHCOYou | $2B | 13.7 | 12.4 | 13.7 | 79.0% | 41.5% | 16.9% | 9.6% | 3.0 |
 FFIN | $5B | 20.8 | 14.2 | 15.7 | 70.8% | 36.8% | 14.4% | 11.0% | 0.7 |
 WSFS | $4B | 14.2 | 6.8 | 17.8 | 74.7% | 28.0% | 10.8% | 9.5% | 0.7 |
 SFNC | $3B | -7.2 | — | 6.9 | 5.8% | -84.2% | -11.4% | -9.1% | — |
 NBTB | $2B | 13.5 | 10.4 | 10.7 | 72.1% | 25.3% | 9.9% | 7.9% | 1.4 |
 FULT | $4B | 10.3 | 9.7 | 14.5 | 67.4% | 25.7% | 11.7% | 7.5% | 2.5 |
 UBSI | $6B | 13.3 | 7.5 | 12.6 | 65.4% | 32.4% | 8.9% | 7.2% | 1.6 |
 HBAN | $26B | 11.6 | 15.7 | 11.2 | 61.7% | 21.5% | 10.0% | 5.1% | 6.9 |
 ONB | $9B | 13.5 | 15.3 | 14.7 | 63.6% | 23.6% | 9.0% | 4.7% | 7.6 |
 GBCI | $6B | 24.5 | 24.4 | 18.3 | 69.0% | 22.9% | 6.4% | 3.5% | 7.9 |
 IBCP | $699M | 10.4 | 9.4 | 10.0 | 69.6% | 25.8% | 14.3% | 10.2% | 1.4 |
| Financial Services Median | — | 13.1 | 11.5 | 10.6 | 63.6% | 21.6% | 9.4% | 5.7% | 4.1 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Start ComparisonCHCO — Frequently Asked Questions
Quick answers to the most common questions about buying CHCO stock.
What is City Holding Company's P/E ratio?
City Holding Company's current P/E ratio is 13.7x. The historical average is 19.1x. This places it at the 43th percentile of its historical range.
What is City Holding Company's EV/EBITDA?
City Holding Company's current EV/EBITDA is 12.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 11.6x.
What is City Holding Company's ROE?
City Holding Company's return on equity (ROE) is 16.9%. The historical average is 12.7%.
Is CHCO stock overvalued?
Based on historical data, City Holding Company is trading at a P/E of 13.7x. This is at the 43th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is City Holding Company's dividend yield?
City Holding Company's current dividend yield is 2.68% with a payout ratio of 36.2%.
What are City Holding Company's profit margins?
City Holding Company has 79.0% gross margin and 41.5% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does City Holding Company have?
City Holding Company's Debt/EBITDA ratio is 3.0x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.