Latest Ratios: P/E Ratio 14.0x · EV/EBITDA 11.9x · ROE 10.3%. (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 | $2.1B | $1.7B | $1.7B | $1.6B | $1.3B | $1.5B | $1.1B | $1.4B | $1.2B | $1.4B | $1.3B |
| Enterprise Value | $2.4B | $2.1B | $1.9B | $2.2B | $1.7B | $1.5B | $1.1B | $1.7B | $2.0B | $2.1B | $2.1B |
| P/E Ratio → | 13.97 | 11.47 | 12.17 | 10.03 | 10.20 | 11.17 | 14.59 | 13.56 | 11.19 | 25.12 | 21.16 |
| P/S Ratio | 2.86 | 2.40 | 2.47 | 2.51 | 3.06 | 3.85 | 2.70 | 3.48 | 3.16 | 4.22 | 4.47 |
| P/B Ratio | 1.37 | 1.12 | 1.23 | 1.20 | 1.25 | 1.39 | 1.00 | 1.36 | 1.23 | 1.57 | 1.68 |
| P/FCF | 12.18 | 10.20 | 15.18 | 12.21 | 9.35 | 9.99 | 10.90 | 15.85 | 9.57 | 18.19 | 15.35 |
| P/OCF | 11.13 | 9.32 | 13.36 | 10.43 | 8.66 | 9.34 | 10.12 | 13.29 | 8.89 | 15.80 | 14.14 |
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 | — | 2.87 | 2.77 | 3.53 | 3.99 | 3.66 | 2.69 | 4.25 | 5.28 | 6.30 | 7.42 |
| EV / EBITDA | 11.90 | 10.24 | 10.54 | 10.96 | 10.02 | 7.96 | 10.44 | 12.35 | 14.28 | 18.48 | 22.69 |
| EV / EBIT | 12.28 | 10.57 | 10.88 | 11.19 | 10.68 | 8.49 | 11.79 | 13.33 | 15.14 | 20.09 | 24.58 |
| EV / FCF | — | 12.23 | 17.02 | 17.17 | 12.21 | 9.50 | 10.84 | 19.33 | 16.00 | 27.16 | 25.49 |
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 | 67.6% | 67.6% | 64.2% | 74.6% | 90.9% | 96.5% | 77.3% | 83.0% | 86.2% | 91.9% | 87.1% |
| Operating Margin | 27.2% | 27.2% | 25.5% | 31.5% | 37.4% | 43.1% | 22.8% | 31.9% | 34.9% | 31.3% | 30.2% |
| Net Profit Margin | 20.9% | 20.9% | 20.4% | 25.1% | 29.9% | 34.5% | 18.6% | 25.6% | 28.2% | 16.7% | 21.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 10.3% | 10.3% | 10.5% | 13.3% | 11.9% | 12.7% | 6.9% | 10.4% | 11.5% | 6.7% | 8.1% |
| ROA | 1.3% | 1.3% | 1.2% | 1.5% | 1.3% | 1.5% | 0.8% | 1.3% | 1.4% | 0.8% | 0.9% |
| ROIC | 7.9% | 7.9% | 6.9% | 8.0% | 7.9% | 9.1% | 4.6% | 5.8% | 5.6% | 4.6% | 3.2% |
| ROCE | 2.9% | 2.9% | 10.2% | 12.8% | 11.2% | 11.8% | 6.1% | 9.9% | 11.9% | 11.0% | 9.9% |
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 | 0.29 | 0.29 | 0.24 | 0.60 | 0.53 | 0.29 | 0.33 | 0.41 | 0.93 | 0.90 | 1.27 |
| Debt / EBITDA | 2.21 | 2.21 | 1.87 | 3.89 | 3.24 | 1.74 | 3.44 | 3.09 | 6.44 | 7.06 | 10.28 |
| Net Debt / Equity | — | 0.22 | 0.15 | 0.49 | 0.38 | -0.07 | -0.01 | 0.30 | 0.83 | 0.77 | 1.11 |
| Net Debt / EBITDA | 1.71 | 1.71 | 1.14 | 3.16 | 2.34 | -0.41 | -0.06 | 2.22 | 5.74 | 6.10 | 9.02 |
| Debt / FCF | — | 2.04 | 1.84 | 4.95 | 2.85 | -0.48 | -0.06 | 3.48 | 6.43 | 8.97 | 10.13 |
| Interest Coverage | 0.96 | 0.96 | 0.80 | 1.37 | 9.03 | 11.30 | 2.74 | 2.36 | 3.32 | 4.76 | 4.59 |
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 | 0.37 | 0.37 | 0.13 | 0.12 | 0.11 | 0.18 | 0.16 | 0.15 | 0.15 | 0.13 | 0.15 |
| Quick Ratio | 0.37 | 0.37 | 0.13 | 0.12 | 0.11 | 0.18 | 0.16 | 0.15 | 0.15 | 0.13 | 0.15 |
| Cash Ratio | 0.37 | 0.37 | 0.01 | 0.02 | 0.02 | 0.05 | 0.05 | 0.02 | 0.01 | 0.02 | 0.02 |
| Asset Turnover | — | 0.06 | 0.06 | 0.05 | 0.04 | 0.04 | 0.04 | 0.05 | 0.05 | 0.05 | 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 | 2.6% | 3.2% | 3.0% | 3.2% | 3.4% | 2.8% | 4.0% | 2.8% | 2.9% | 2.2% | 2.0% |
| Payout Ratio | 36.4% | 36.4% | 36.9% | 32.4% | 34.8% | 31.5% | 58.5% | 37.4% | 32.4% | 55.3% | 41.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 7.2% | 8.7% | 8.2% | 10.0% | 9.8% | 8.9% | 6.9% | 7.4% | 8.9% | 4.0% | 4.7% |
| FCF Yield | 8.2% | 9.8% | 6.6% | 8.2% | 10.7% | 10.0% | 9.2% | 6.3% | 10.5% | 5.5% | 6.5% |
| Buyback Yield | 1.7% | 2.0% | 0.7% | 1.0% | 1.2% | 2.0% | 2.0% | 0.4% | 2.2% | 0.1% | 0.1% |
| Total Shareholder Yield | 4.3% | 5.2% | 3.8% | 4.2% | 4.6% | 4.9% | 6.0% | 3.2% | 5.1% | 2.3% | 2.0% |
| Shares Outstanding | — | $104M | $102M | $102M | $94M | $96M | $98M | $99M | $100M | $97M | $89M |
Securities portfolio duration sensitivity
Based on the reported P/B ratio of 1.37, the market appears to value FCF as a standard regional depository rather than a premium franchise, as the valuation remains tightly clustered with peers like NBT Bancorp and Fulton Financial despite the bank's recent expansion into Ohio corporate markets.
The current P/B multiple suggests that investors are not yet assigning a scarcity premium to FCF's localized relationship model. This valuation implies that the market expects long-term returns on tangible equity to remain in line with regional averages, warranting further investigation into whether the bank's shift toward urban corporate centers can drive a structural re-rating.
As reported in the quarterly financial data, FCF's ROE has remained in a narrow range between 2.3% and 3.5% over the last ten quarters, indicating that the bank's profitability is currently constrained by its heavy reliance on a low-yielding investment securities portfolio rather than higher-margin commercial lending.
The DuPont decomposition suggests that while the bank maintains a stable efficiency ratio, the lack of significant leverage and the composition of the balance sheet limit the potential for ROE expansion. Investors should monitor whether the recent pivot toward corporate banking in Ohio can improve asset utilization and drive a more favorable return profile.
According to the provided financial statements, FCF has maintained an efficiency ratio between 38.8% and 42.0% over the last five quarters, which suggests that management has successfully controlled operating expenses despite the competitive pressures impacting the broader regional banking sector's net interest margin.
While the efficiency ratio appears disciplined, the stability of the NIM at 0.9% indicates that the bank is struggling to capture significant spread expansion in the current rate environment. This suggests that the bank's cost-to-serve model is optimized for its current scale, but may require further digital investment to improve operating leverage.
As indicated by the bank's financial structure, the P/E ratio is a frequently misapplied metric for FCF because it fails to account for the volatility inherent in CECL-driven loan loss provisions and the non-operating gains or losses often realized within the large investment securities portfolio.
Investors should prioritize P/TBV over P/E to better assess the bank's underlying value, as the latter is often distorted by accounting adjustments that do not reflect core operational cash generation. Relying on P/E may lead to an inaccurate assessment of the bank's true earnings power during periods of economic uncertainty.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying FCF stock.
First Commonwealth Financial Corporation's current P/E ratio is 14.0x. The historical average is 19.1x. This places it at the 34th percentile of its historical range.
First Commonwealth Financial Corporation's current EV/EBITDA is 11.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 22.2x.
First Commonwealth Financial Corporation's return on equity (ROE) is 10.3%. The historical average is 9.3%.
Based on historical data, First Commonwealth Financial Corporation is trading at a P/E of 14.0x. This is at the 34th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
First Commonwealth Financial Corporation's current dividend yield is 2.61% with a payout ratio of 36.4%.
First Commonwealth Financial Corporation has 67.6% gross margin and 27.2% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
First Commonwealth Financial Corporation's Debt/EBITDA ratio is 2.2x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.