Fulton Financial Corporation (FULT) Financial Ratios
30 years of historical data (1996–2025) · Financial Services · Banks - Regional
EV/EBITDA
↑
10.26
-0% vs avg
5yr avg: 10.31
30Y Low7.1·High32.3
P/FCF
↑
15.50
↑+78% vs avg
5yr avg: 8.68
30Y Low4.9·High31.1
P/B Ratio
↓
1.20
+16% vs avg
5yr avg: 1.04
30Y Low0.8·High2.5
ROE
↑
11.7%
↓+10% vs avg
5yr avg: 10.6%
30Y Low-0%·High17%
Debt/EBITDA
↓
2.45
↓-51% vs avg
5yr avg: 5.00
30Y Low2.5·High20.8
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
FULT Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Fulton Financial Corporation trades at 11.0x earnings, 5% above its 5-year average of 10.4x, sitting at the 14th percentile of its historical range. Compared to the Financial Services sector median P/E of 13.6x, the stock trades at a discount of 19%. On a free-cash-flow basis, the stock trades at 15.5x P/FCF, 78% above the 5-year average of 8.7x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $4.4B | $3.5B | $3.4B | $2.7B | $2.8B | $2.8B | $2.1B | $2.9B | $2.7B | $3.1B | $3.3B |
| Enterprise Value | $5.4B | $4.6B | $4.1B | $4.7B | $5.0B | $2.6B | $2.2B | $4.2B | $4.2B | $4.5B | $4.5B |
| P/E Ratio → | 11.01 | 9.29 | 12.28 | 10.04 | 10.08 | 10.49 | 11.78 | 12.54 | 13.12 | 18.27 | 20.22 |
| P/S Ratio | 2.33 | 1.87 | 1.90 | 1.83 | 2.55 | 2.78 | 2.13 | 2.81 | 2.86 | 3.61 | 4.13 |
| P/B Ratio | 1.20 | 1.02 | 1.07 | 0.99 | 1.08 | 1.02 | 0.79 | 1.25 | 1.22 | 1.41 | 1.55 |
| P/FCF | 15.50 | 12.46 | 9.13 | 8.32 | 4.86 | 8.66 | 15.13 | 31.11 | 10.64 | 12.37 | 15.89 |
| P/OCF | 14.47 | 11.64 | 8.20 | 7.56 | 4.68 | 8.20 | 13.18 | 22.90 | 9.21 | 10.94 | 14.50 |
P/E links to full P/E history page with 30-year chart
FULT EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Fulton Financial Corporation's enterprise value stands at 10.3x EBITDA, roughly in line with its 5-year average of 10.3x. The Financial Services sector median is 11.4x, placing the stock at a 10% discount 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 | — | 2.42 | 2.30 | 3.13 | 4.57 | 2.60 | 2.21 | 4.06 | 4.44 | 5.21 | 5.69 |
| EV / EBITDA | 10.26 | 8.63 | 10.31 | 12.31 | 13.16 | 7.13 | 9.30 | 14.40 | 16.22 | 17.30 | 19.14 |
| EV / EBIT | 11.19 | 9.41 | 12.01 | 13.48 | 14.37 | 7.76 | 10.65 | 16.02 | 18.18 | 19.37 | 21.66 |
| EV / FCF | — | 16.07 | 11.06 | 14.24 | 8.70 | 8.08 | 15.70 | 44.99 | 16.49 | 17.83 | 21.85 |
FULT Profitability
Margins and return-on-capital ratios measuring operating efficiency
Fulton Financial Corporation earns an operating margin of 25.7%, above the Financial Services sector average of 20.3%. Operating margins have expanded from 23.2% to 25.7% over the past 3 years, signaling improving operational efficiency. ROE of 11.7% is modest. ROIC of 7.5% represents adequate returns on invested capital versus a sector median of 5.5%.
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 | 67.4% | 67.4% | 62.8% | 68.5% | 90.5% | 95.5% | 80.4% | 79.9% | 81.7% | 86.6% | 88.0% |
| Operating Margin | 25.7% | 25.7% | 19.1% | 23.2% | 31.8% | 33.5% | 20.8% | 25.3% | 24.4% | 26.9% | 26.3% |
| Net Profit Margin | 20.7% | 20.7% | 16.0% | 18.9% | 26.3% | 27.6% | 18.3% | 21.7% | 21.8% | 19.7% | 20.4% |
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 | 11.7% | 11.7% | 9.7% | 10.6% | 10.8% | 10.3% | 7.2% | 9.8% | 9.3% | 7.9% | 7.8% |
| ROA | 1.2% | 1.2% | 1.0% | 1.0% | 1.1% | 1.1% | 0.7% | 1.1% | 1.0% | 0.9% | 0.9% |
| ROIC | 7.5% | 7.5% | 5.1% | 4.9% | 5.4% | 5.8% | 3.5% | 4.8% | 4.4% | 4.7% | 4.4% |
| ROCE | 9.5% | 9.5% | 6.6% | 6.7% | 8.1% | 8.6% | 5.1% | 7.4% | 6.5% | 6.7% | 6.3% |
FULT Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Fulton Financial Corporation carries a Debt/EBITDA ratio of 2.5x, which is manageable (42% below the sector average of 4.3x). Net debt stands at $1.0B ($1.3B total debt minus $271M cash). Interest coverage of just 0.8x 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 | 0.37 | 0.37 | 0.56 | 0.90 | 1.11 | 0.54 | 0.74 | 0.78 | 0.78 | 0.74 | 0.69 |
| Debt / EBITDA | 2.45 | 2.45 | 4.44 | 6.52 | 7.58 | 4.00 | 8.32 | 6.20 | 6.69 | 6.31 | 6.24 |
| Net Debt / Equity | — | 0.29 | 0.23 | 0.71 | 0.85 | -0.07 | 0.03 | 0.56 | 0.67 | 0.62 | 0.58 |
| Net Debt / EBITDA | 1.94 | 1.94 | 1.80 | 5.12 | 5.81 | -0.51 | 0.34 | 4.44 | 5.76 | 5.30 | 5.23 |
| Debt / FCF | — | 3.61 | 1.93 | 5.92 | 3.84 | -0.57 | 0.57 | 13.87 | 5.85 | 5.47 | 5.97 |
| Interest Coverage | 0.84 | 0.84 | 0.55 | 0.83 | 4.17 | 5.60 | 1.78 | 1.49 | 1.82 | 2.51 | 2.53 |
FULT Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.05x is below 1.0, meaning current liabilities exceed current assets. The current ratio has declined from 0.15x to 0.05x 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 | 0.05 | 0.05 | 0.14 | 0.15 | 0.17 | 0.23 | 0.24 | 0.19 | 0.16 | 0.19 | 0.20 |
| Quick Ratio | 0.05 | 0.05 | 0.14 | 0.15 | 0.17 | 0.23 | 0.24 | 0.19 | 0.16 | 0.19 | 0.20 |
| Cash Ratio | 0.01 | 0.01 | 0.04 | 0.02 | 0.03 | 0.07 | 0.09 | 0.03 | 0.01 | 0.02 | 0.02 |
| Asset Turnover | — | 0.06 | 0.06 | 0.05 | 0.04 | 0.04 | 0.04 | 0.05 | 0.05 | 0.04 | 0.04 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
FULT Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Fulton Financial Corporation returns 4.9% to shareholders annually — split between a 3.4% dividend yield and 1.5% buyback yield. The payout ratio of 36.1% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 9.1% (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 | 3.4% | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | 36.1% | 36.1% | 45.6% | 40.7% | 40.4% | 40.7% | 51.1% | 40.8% | 43.0% | 46.8% | 42.9% |
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 | 9.1% | 10.8% | 8.1% | 10.0% | 9.9% | 9.5% | 8.5% | 8.0% | 7.6% | 5.5% | 4.9% |
| FCF Yield | 6.5% | 8.0% | 10.9% | 12.0% | 20.6% | 11.6% | 6.6% | 3.2% | 9.4% | 8.1% | 6.3% |
| Buyback Yield | 1.5% | — | — | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 4.9% | — | — | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $183M | $177M | $167M | $165M | $163M | $163M | $168M | $177M | $176M | $174M |
Peer Comparison
Compare FULT 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 |
|---|---|---|---|---|---|---|---|---|---|
 FULTYou | $4B | 11.0 | 10.3 | 15.5 | 67.4% | 25.7% | 11.7% | 7.5% | 2.5 |
 WSFS | $4B | 14.6 | 7.1 | 18.3 | 74.7% | 28.0% | 10.8% | 9.5% | 0.7 |
 TRMK | $3B | 12.1 | 9.4 | 11.3 | 71.0% | 25.5% | 11.0% | 7.1% | 3.4 |
 UMBF | $10B | 14.6 | 12.2 | 10.4 | 54.4% | 20.3% | 12.6% | 7.5% | 3.6 |
 IBCP | $706M | 10.5 | 9.5 | 10.1 | 69.6% | 25.8% | 14.3% | 10.2% | 1.4 |
 NBTB | $2B | 14.0 | 10.7 | 11.1 | 72.1% | 25.3% | 9.9% | 7.9% | 1.4 |
 SFNC | $3B | -7.4 | — | 7.5 | 5.8% | -84.2% | -11.4% | -9.1% | — |
 CVBF | $3B | 13.7 | 13.2 | 13.0 | 79.9% | 43.8% | 9.3% | 6.8% | 3.5 |
 TOWN | $3B | 15.7 | 13.2 | 12.5 | 69.6% | 20.9% | 7.4% | 6.0% | 1.8 |
 OFG | $2B | 10.4 | 5.4 | 10.1 | 71.2% | 30.8% | 15.5% | 10.9% | 2.0 |
 ACNB | $592M | 15.9 | 16.9 | 11.3 | 73.7% | 27.3% | 10.2% | 5.3% | 6.2 |
| Financial Services Median | — | 13.6 | 11.4 | 11.1 | 64.1% | 20.3% | 9.0% | 5.5% | 4.3 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Includes 30+ ratios · 30 years · Updated daily
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FULT — Frequently Asked Questions
Quick answers to the most common questions about buying FULT stock.
What is Fulton Financial Corporation's P/E ratio?
Fulton Financial Corporation's current P/E ratio is 11.0x. The historical average is 15.1x. This places it at the 14th percentile of its historical range.
What is Fulton Financial Corporation's EV/EBITDA?
Fulton Financial Corporation's current EV/EBITDA is 10.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 15.2x.
What is Fulton Financial Corporation's ROE?
Fulton Financial Corporation's return on equity (ROE) is 11.7%. The historical average is 10.7%.
Is FULT stock overvalued?
Based on historical data, Fulton Financial Corporation is trading at a P/E of 11.0x. This is at the 14th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Fulton Financial Corporation's dividend yield?
Fulton Financial Corporation's current dividend yield is 3.36% with a payout ratio of 36.1%.
What are Fulton Financial Corporation's profit margins?
Fulton Financial Corporation has 67.4% gross margin and 25.7% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Fulton Financial Corporation have?
Fulton Financial Corporation's Debt/EBITDA ratio is 2.5x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.