Finward Bancorp (FNWD) Financial Ratios
30 years of historical data (1996–2025) · Financial Services · Banks - Regional
EV/EBITDA
↑
26.34
↑+114% vs avg
5yr avg: 12.30
30Y Low5.6·High31.3
P/FCF
↑
19.25
↑+50% vs avg
5yr avg: 12.81
30Y Low2.8·High66.8
P/B Ratio
↓
0.84
-8% vs avg
5yr avg: 0.90
30Y Low0.6·High2.3
ROE
↓
5.0%
↑-36% vs avg
5yr avg: 7.8%
30Y Low5%·High15%
Debt/EBITDA
↑
10.44
↑+74% vs avg
5yr avg: 6.00
30Y Low0.7·High19.2
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
FNWD Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Finward Bancorp trades at 18.1x earnings, 45% above its 5-year average of 12.4x, sitting at the 93rd percentile of its historical range. Compared to the Financial Services sector median P/E of 13.9x, the stock trades at a premium of 30%. On a free-cash-flow basis, the stock trades at 19.2x P/FCF, 50% 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 | $147M | $151M | $120M | $108M | $152M | $160M | $125M | $157M | $130M | $127M | $111M |
| Enterprise Value | $214M | $217M | $155M | $141M | $254M | $140M | $123M | $149M | $166M | $147M | $106M |
| P/E Ratio → | 18.08 | 18.72 | 9.90 | 12.88 | 10.06 | 10.67 | 7.54 | 13.00 | 13.96 | 14.22 | 12.14 |
| P/S Ratio | 1.46 | 1.49 | 1.07 | 1.12 | 1.82 | 2.40 | 1.79 | 2.50 | 2.68 | 3.10 | 2.78 |
| P/B Ratio | 0.84 | 0.86 | 0.79 | 0.73 | 1.11 | 1.02 | 0.82 | 1.17 | 1.28 | 1.38 | 1.32 |
| P/FCF | 19.25 | 19.75 | 17.84 | 4.69 | 10.33 | 11.47 | 7.81 | 19.86 | 13.67 | 11.98 | 12.80 |
| P/OCF | 14.87 | 15.25 | 12.24 | 4.46 | 8.56 | 9.36 | 6.33 | 14.35 | 12.36 | 10.37 | 10.69 |
P/E links to full P/E history page with 30-year chart
FNWD EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Finward Bancorp's enterprise value stands at 26.3x EBITDA, 114% above its 5-year average of 12.3x. The Financial Services sector median is 11.5x, placing the stock at a 128% 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 | — | 2.15 | 1.39 | 1.46 | 3.04 | 2.10 | 1.76 | 2.37 | 3.43 | 3.58 | 2.65 |
| EV / EBITDA | 26.34 | 26.82 | 7.48 | 9.25 | 11.26 | 6.67 | 5.62 | 9.42 | 12.40 | 10.20 | 7.45 |
| EV / EBIT | 26.34 | 26.82 | 11.54 | 17.48 | 15.32 | 8.53 | 6.58 | 10.74 | 15.46 | 12.45 | 9.07 |
| EV / FCF | — | 28.44 | 23.06 | 6.10 | 17.26 | 10.04 | 7.69 | 18.80 | 17.47 | 13.84 | 12.22 |
FNWD Profitability
Margins and return-on-capital ratios measuring operating efficiency
Finward Bancorp earns an operating margin of 8.0%, below the Financial Services sector average of 20.2%. ROE of 5.0% is modest, trailing the sector median of 9.0%. ROIC of 2.4% represents below-average returns on invested capital versus a sector median of 5.4%.
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 | 65.6% | 65.6% | 64.0% | 65.6% | 94.2% | 94.6% | 86.5% | 81.4% | 86.8% | 90.8% | 91.0% |
| Operating Margin | 8.0% | 8.0% | 12.0% | 8.3% | 19.8% | 24.6% | 26.8% | 22.0% | 22.2% | 28.8% | 29.2% |
| Net Profit Margin | 8.0% | 8.0% | 10.8% | 8.7% | 18.1% | 22.5% | 22.8% | 19.2% | 19.2% | 21.8% | 22.8% |
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 | 5.0% | 5.0% | 8.1% | 5.9% | 10.3% | 9.7% | 11.1% | 10.3% | 9.6% | 10.2% | 11.1% |
| ROA | 0.4% | 0.4% | 0.6% | 0.4% | 0.8% | 1.0% | 1.1% | 1.0% | 0.9% | 1.0% | 1.0% |
| ROIC | 2.4% | 2.4% | 3.9% | 2.2% | 5.6% | 7.2% | 8.5% | 6.6% | 5.8% | 7.2% | 6.7% |
| ROCE | 1.3% | 1.3% | 5.2% | 3.1% | 8.0% | 10.4% | 12.2% | 9.5% | 8.4% | 10.6% | 10.2% |
FNWD Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Finward Bancorp carries a Debt/EBITDA ratio of 10.4x, which is highly leveraged (145% above the sector average of 4.3x). Net debt stands at $66M ($85M total debt minus $18M cash). Interest coverage of just 0.2x 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 | 0.48 | 0.48 | 0.69 | 0.80 | 0.99 | 0.09 | 0.13 | 0.19 | 0.54 | 0.35 | 0.47 |
| Debt / EBITDA | 10.44 | 10.44 | 5.07 | 7.77 | 6.02 | 0.70 | 0.91 | 1.61 | 4.07 | 2.23 | 2.80 |
| Net Debt / Equity | — | 0.38 | 0.23 | 0.22 | 0.75 | -0.13 | -0.01 | -0.06 | 0.36 | 0.22 | -0.06 |
| Net Debt / EBITDA | 8.19 | 8.19 | 1.70 | 2.14 | 4.52 | -0.95 | -0.09 | -0.53 | 2.70 | 1.37 | -0.36 |
| Debt / FCF | — | 8.69 | 5.23 | 1.41 | 6.93 | -1.43 | -0.12 | -1.06 | 3.80 | 1.86 | -0.58 |
| Interest Coverage | 0.23 | 0.23 | 0.33 | 0.26 | 3.39 | 7.87 | 3.26 | 1.52 | 2.11 | 4.56 | 4.99 |
FNWD Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.77x means Finward Bancorp can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has improved from 0.25x to 1.77x 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 | 1.77 | 1.77 | 0.23 | 0.25 | 0.23 | 0.39 | 0.33 | 0.27 | 0.28 | 0.32 | 0.35 |
| Quick Ratio | 1.77 | 1.77 | 0.23 | 0.25 | 0.23 | 0.39 | 0.33 | 0.27 | 0.28 | 0.32 | 0.35 |
| Cash Ratio | 0.02 | 0.02 | 0.04 | 0.05 | 0.02 | 0.02 | 0.02 | 0.03 | 0.02 | 0.02 | 0.06 |
| Asset Turnover | — | 0.05 | 0.05 | 0.05 | 0.04 | 0.04 | 0.05 | 0.05 | 0.04 | 0.04 | 0.04 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
FNWD Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Finward Bancorp returns 1.1% to shareholders annually primarily through dividends. The payout ratio of 19.3% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 5.5% (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 | 1.1% | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | 19.3% | 19.3% | 17.1% | 63.7% | 33.7% | 28.8% | 26.9% | 33.8% | 36.8% | 36.4% | 34.4% |
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 | 5.5% | 5.3% | 10.1% | 7.8% | 9.9% | 9.4% | 13.3% | 7.7% | 7.2% | 7.0% | 8.2% |
| FCF Yield | 5.2% | 5.1% | 5.6% | 21.3% | 9.7% | 8.7% | 12.8% | 5.0% | 7.3% | 8.3% | 7.8% |
| Buyback Yield | 0.0% | — | — | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 1.1% | — | — | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $4M | $4M | $4M | $4M | $3M | $3M | $3M | $3M | $3M | $3M |
Peer Comparison
Compare FNWD 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 |
|---|---|---|---|---|---|---|---|---|---|
 FNWDYou | $147M | 18.1 | 26.3 | 19.2 | 65.6% | 8.0% | 5.0% | 2.4% | 10.4 |
 CFBK | $201M | 11.6 | 3.0 | 11.1 | 41.8% | 17.1% | 9.6% | 5.5% | 5.7 |
 NECB | $359M | 8.0 | 5.6 | 7.1 | 66.1% | 39.6% | 13.3% | 12.5% | 1.2 |
 HFBL | $60M | 15.4 | 7.9 | 11.0 | 63.9% | 14.4% | 7.2% | 5.9% | 0.7 |
 CZWI | $207M | 14.7 | 15.7 | 19.9 | 54.7% | 7.0% | 7.9% | 2.0% | 5.8 |
 FHN | $12B | 13.4 | 12.0 | 13.1 | 67.3% | 25.7% | 10.8% | 7.0% | 3.4 |
 PFSI | $4B | 8.8 | 17.9 | — | 91.4% | 34.6% | 12.3% | 4.4% | 15.3 |
 FIS | $20B | 52.3 | 6.5 | 7.2 | 36.9% | 16.5% | 2.6% | 6.0% | 1.1 |
 JKHY | $9B | 20.5 | 11.9 | 15.8 | 42.7% | 23.9% | 21.4% | 21.0% | — |
 TRST | $979M | 17.0 | 12.5 | 21.4 | 67.1% | 29.2% | 9.0% | 7.2% | 2.1 |
 BSVN | $446M | 10.3 | 3.5 | 10.8 | 70.2% | 41.4% | 18.6% | 18.3% | — |
| Financial Services Median | — | 13.9 | 11.5 | 11.2 | 64.1% | 20.2% | 9.0% | 5.4% | 4.3 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
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Run the NumbersIs FNWD Undervalued Right Now?
DCF intrinsic value, peer multiples, and analyst estimates — see what the stock is really worth.
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Compare NowFNWD — Frequently Asked Questions
Quick answers to the most common questions about buying FNWD stock.
What is Finward Bancorp's P/E ratio?
Finward Bancorp's current P/E ratio is 18.1x. The historical average is 12.4x. This places it at the 93th percentile of its historical range.
What is Finward Bancorp's EV/EBITDA?
Finward Bancorp's current EV/EBITDA is 26.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 11.0x.
What is Finward Bancorp's ROE?
Finward Bancorp's return on equity (ROE) is 5.0%. The historical average is 10.7%.
Is FNWD stock overvalued?
Based on historical data, Finward Bancorp is trading at a P/E of 18.1x. This is at the 93th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Finward Bancorp's dividend yield?
Finward Bancorp's current dividend yield is 1.07% with a payout ratio of 19.3%.
What are Finward Bancorp's profit margins?
Finward Bancorp has 65.6% gross margin and 8.0% operating margin.
How much debt does Finward Bancorp have?
Finward Bancorp's Debt/EBITDA ratio is 10.4x, indicating high leverage. A ratio above 4x may signal elevated financial risk.