Latest Ratios: P/E Ratio 10.2x · EV/EBITDA 23.3x · ROE 12.5%. (2006–2025 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 | $238M | $219M | $163M | $101M | $164M | $201M | $129M | $150M | $162M | $125M | $83M |
| Enterprise Value | $678M | $651M | $461M | $482M | $516M | $435M | $423M | $353M | $228M | $208M | $174M |
| P/E Ratio → | 10.23 | 9.47 | 12.03 | 12.38 | 10.69 | 6.79 | 3.87 | 9.28 | 14.88 | 13.48 | 10.57 |
| P/S Ratio | 1.63 | 1.50 | 1.21 | 0.79 | 1.34 | 1.08 | 0.68 | 1.58 | 2.92 | 2.95 | 2.55 |
| P/B Ratio | 1.23 | 1.13 | 0.92 | 0.67 | 1.08 | 1.11 | 0.82 | 1.24 | 1.62 | 1.35 | 0.96 |
| P/FCF | 3.05 | 2.80 | 1.80 | 3.40 | 1.11 | 1.84 | — | — | 9.90 | — | 9.24 |
| P/OCF | 3.01 | 2.77 | 1.79 | 3.09 | 1.10 | 1.75 | — | — | 9.02 | — | 8.89 |
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 | — | 4.45 | 3.43 | 3.75 | 4.22 | 2.34 | 2.21 | 3.71 | 4.12 | 4.89 | 5.32 |
| EV / EBITDA | 23.28 | 22.36 | 27.14 | 44.88 | 26.14 | 10.29 | 8.70 | 16.19 | 14.15 | 16.00 | 24.65 |
| EV / EBIT | 25.23 | 24.23 | 31.55 | 58.87 | 29.83 | 10.88 | 9.05 | 17.55 | 15.47 | 17.58 | 31.10 |
| EV / FCF | — | 8.32 | 5.09 | 16.16 | 3.49 | 3.98 | — | — | 13.94 | — | 19.29 |
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 | 57.3% | 57.3% | 50.1% | 65.6% | 89.8% | 96.6% | 90.3% | 87.0% | 86.1% | 86.5% | 85.3% |
| Operating Margin | 18.4% | 18.4% | 10.9% | 6.4% | 14.1% | 21.5% | 24.5% | 21.2% | 26.6% | 27.8% | 17.1% |
| Net Profit Margin | 15.8% | 15.8% | 10.1% | 6.4% | 12.6% | 15.9% | 17.5% | 17.0% | 19.7% | 21.9% | 24.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 12.5% | 12.5% | 8.3% | 5.4% | 9.3% | 17.5% | 23.9% | 14.6% | 11.3% | 10.4% | 8.7% |
| ROA | 1.0% | 1.0% | 0.6% | 0.4% | 0.8% | 1.7% | 2.2% | 1.4% | 1.1% | 1.1% | 1.0% |
| ROIC | 3.4% | 3.4% | 2.0% | 1.1% | 2.6% | 6.4% | 8.2% | 5.2% | 5.2% | 4.2% | 2.0% |
| ROCE | 4.3% | 4.3% | 2.6% | 1.5% | 3.5% | 7.1% | 9.1% | 7.0% | 7.0% | 5.6% | 2.7% |
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 | 2.40 | 2.40 | 1.98 | 2.73 | 2.61 | 1.50 | 2.10 | 2.03 | 1.11 | 1.28 | 1.42 |
| Debt / EBITDA | 15.93 | 15.93 | 20.63 | 38.36 | 20.02 | 6.38 | 6.80 | 11.31 | 6.88 | 9.19 | 17.44 |
| Net Debt / Equity | — | 2.23 | 1.68 | 2.52 | 2.32 | 1.30 | 1.87 | 1.67 | 0.66 | 0.89 | 1.05 |
| Net Debt / EBITDA | 14.83 | 14.83 | 17.53 | 35.44 | 17.83 | 5.54 | 6.05 | 9.30 | 4.11 | 6.36 | 12.84 |
| Debt / FCF | — | 5.52 | 3.29 | 12.76 | 2.38 | 2.14 | — | — | 4.05 | — | 10.05 |
| Interest Coverage | 0.43 | 0.43 | 0.23 | 0.20 | 1.64 | 4.94 | 4.44 | 1.84 | 2.33 | 2.65 | 1.34 |
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 | 0.17 | 0.17 | 0.17 | 0.16 | 0.24 | 0.20 | 0.22 | 0.26 | 0.28 | 0.32 | 0.36 |
| Quick Ratio | 0.17 | 0.17 | 0.17 | 0.16 | 0.24 | 0.20 | 0.22 | 0.26 | 0.28 | 0.32 | 0.36 |
| Cash Ratio | 0.02 | 0.02 | 0.03 | 0.02 | 0.03 | 0.03 | 0.03 | 0.05 | 0.05 | 0.05 | 0.06 |
| Asset Turnover | — | 0.06 | 0.05 | 0.06 | 0.06 | 0.11 | 0.11 | 0.08 | 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 | 1.8% | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | 18.9% | 18.9% | 29.8% | 46.4% | 29.2% | 5.7% | 4.8% | 9.1% | 12.3% | 13.2% | 14.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 9.8% | 10.6% | 8.3% | 8.1% | 9.4% | 14.7% | 25.8% | 10.8% | 6.7% | 7.4% | 9.5% |
| FCF Yield | 32.8% | 35.7% | 55.4% | 29.4% | 90.2% | 54.5% | — | — | 10.1% | — | 10.8% |
| Buyback Yield | 0.2% | — | — | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 2.0% | — | — | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $7M | $7M | $7M | $7M | $7M | $7M | $7M | $7M | $7M | $7M |
SBA secondary market volatility
With a P/B ratio of 1.23 as of the most recent period, FSFG appears to be priced by the market as a standard regional lender rather than a specialized national SBA platform, suggesting investors are discounting the volatility inherent in its gain-on-sale revenue streams.
The current valuation multiple implies that the market remains skeptical of the bank's ability to sustain high-margin fee income through the cycle. Investors should monitor whether the P/B ratio expands as the bank demonstrates consistent earnings power from its national lending verticals, which would justify a premium over traditional community bank peers.
Based on quarterly financial data, FSFG's ROE has remained in a narrow range between 2.1% and 3.5% throughout 2025, indicating that the bank's profitability is currently constrained by a persistent 0.7% net interest margin despite successful efforts to scale its national lending operations.
The DuPont decomposition suggests that while operating leverage has improved, the bank's return on equity is hampered by low asset utilization and a reliance on cyclical fee income. The modest ROE levels warrant further investigation into whether the bank can optimize its funding costs to improve the core interest spread.
As reported in recent filings, FSFG has successfully reduced its efficiency ratio from 64.4% in 2023Q4 to 39.6% by 2025Q4, demonstrating a disciplined approach to cost control that partially mitigates the impact of a stubbornly flat 0.7% net interest margin on overall profitability.
The improvement in the efficiency ratio suggests that management is effectively scaling its national lending platforms without a proportional increase in overhead. However, the lack of NIM expansion indicates that the bank may be facing significant competitive pressure on its deposit pricing, which could limit future margin upside.
The P/E ratio is frequently misapplied to FSFG, as it fails to account for the non-cash volatility associated with Mortgage Servicing Rights and the lumpy nature of SBA gain-on-sale premiums, which can lead to misleading interpretations of the bank's underlying core earning power.
Investors should prioritize P/TBV and adjusted ROE metrics over P/E, as the latter is highly sensitive to quarterly fluctuations in fair value adjustments. Relying on P/E may lead to an overestimation of the bank's stability during periods of high transactional volume, masking the underlying risks in the loan portfolio.
Includes 30+ ratios · 20 years · Updated daily
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Quick answers to the most common questions about buying FSFG stock.
First Savings Financial Group, Inc.'s current P/E ratio is 10.2x. The historical average is 10.5x. This places it at the 31th percentile of its historical range.
First Savings Financial Group, Inc.'s current EV/EBITDA is 23.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 18.7x.
First Savings Financial Group, Inc.'s return on equity (ROE) is 12.5%. The historical average is 8.1%.
Based on historical data, First Savings Financial Group, Inc. is trading at a P/E of 10.2x. This is at the 31th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
First Savings Financial Group, Inc.'s current dividend yield is 1.85% with a payout ratio of 18.9%.
First Savings Financial Group, Inc. has 57.3% gross margin and 18.4% operating margin. Operating margin between 10-20% is typical for established companies.
First Savings Financial Group, Inc.'s Debt/EBITDA ratio is 15.9x, indicating high leverage. A ratio above 4x may signal elevated financial risk.