Latest Ratios: P/E Ratio 22.3x · EV/EBITDA 22.9x · ROE 6.4%. (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 | $5.8B | $5.7B | $5.7B | $4.6B | $5.5B | $5.6B | $4.4B | $4.1B | $3.3B | $3.1B | $2.8B |
| Enterprise Value | $8.3B | $8.3B | $8.6B | $7.7B | $8.0B | $6.4B | $4.9B | $4.5B | $4.1B | $3.7B | $3.5B |
| P/E Ratio → | 22.29 | 22.14 | 29.89 | 20.56 | 18.04 | 19.83 | 16.37 | 19.32 | 18.26 | 22.51 | 22.79 |
| P/S Ratio | 5.67 | 5.63 | 7.02 | 5.80 | 6.14 | 7.10 | 5.73 | 6.66 | 6.10 | 6.86 | 6.76 |
| P/B Ratio | 1.37 | 1.36 | 1.76 | 1.52 | 1.93 | 1.77 | 1.89 | 2.07 | 2.19 | 2.55 | 2.48 |
| P/FCF | 16.61 | 16.50 | 27.11 | 10.15 | 12.54 | 10.02 | 24.56 | 19.33 | 12.65 | 12.50 | 14.97 |
| P/OCF | 15.42 | 15.31 | 22.04 | 9.15 | 11.64 | 9.85 | 23.04 | 17.93 | 11.81 | 12.00 | 14.32 |
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 | — | 8.16 | 10.66 | 9.71 | 9.00 | 8.05 | 6.44 | 7.39 | 7.53 | 8.32 | 8.48 |
| EV / EBITDA | 22.87 | 22.76 | 32.21 | 25.17 | 19.74 | 16.77 | 13.69 | 15.76 | 16.76 | 18.70 | 19.37 |
| EV / EBIT | 25.61 | 25.49 | 38.15 | 28.66 | 21.69 | 18.30 | 14.97 | 17.40 | 18.44 | 20.49 | 21.58 |
| EV / FCF | — | 23.91 | 41.15 | 16.99 | 18.38 | 11.37 | 27.62 | 21.46 | 15.63 | 15.16 | 18.77 |
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 | 69.0% | 69.0% | 62.8% | 69.4% | 93.4% | 94.9% | 91.5% | 93.4% | 92.1% | 91.4% | 92.7% |
| Operating Margin | 22.9% | 22.9% | 18.2% | 24.0% | 39.7% | 43.0% | 41.5% | 39.7% | 38.4% | 38.1% | 36.7% |
| Net Profit Margin | 16.8% | 16.8% | 15.3% | 20.0% | 32.5% | 35.0% | 33.7% | 32.2% | 31.4% | 24.5% | 27.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 6.4% | 6.4% | 6.1% | 7.6% | 10.1% | 10.4% | 12.5% | 12.1% | 13.4% | 10.1% | 11.0% |
| ROA | 0.8% | 0.8% | 0.7% | 0.8% | 1.2% | 1.3% | 1.7% | 1.6% | 1.7% | 1.2% | 1.3% |
| ROIC | 3.5% | 3.5% | 2.3% | 3.0% | 5.5% | 6.7% | 7.9% | 7.4% | 7.3% | 6.7% | 6.0% |
| ROCE | 1.7% | 1.7% | 3.9% | 4.7% | 8.6% | 11.1% | 13.0% | 11.4% | 11.2% | 10.8% | 9.7% |
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 | 0.69 | 0.69 | 1.18 | 1.47 | 1.04 | 0.38 | 0.51 | 0.40 | 0.65 | 0.71 | 0.77 |
| Debt / EBITDA | 7.94 | 7.94 | 14.16 | 14.57 | 7.27 | 3.14 | 3.28 | 2.71 | 4.03 | 4.29 | 4.78 |
| Net Debt / Equity | — | 0.61 | 0.91 | 1.02 | 0.90 | 0.24 | 0.24 | 0.23 | 0.52 | 0.54 | 0.63 |
| Net Debt / EBITDA | 7.06 | 7.06 | 10.99 | 10.13 | 6.28 | 1.99 | 1.52 | 1.56 | 3.20 | 3.28 | 3.93 |
| Debt / FCF | — | 7.41 | 14.04 | 6.84 | 5.85 | 1.35 | 3.06 | 2.12 | 2.98 | 2.66 | 3.81 |
| Interest Coverage | 0.80 | 0.80 | 0.52 | 0.82 | 8.97 | 18.83 | 12.01 | 6.06 | 6.25 | 6.06 | 5.43 |
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 | 307.57 | 307.57 | 0.21 | 0.29 | 0.27 | 0.43 | 0.38 | 0.26 | 0.29 | 0.25 | 0.33 |
| Quick Ratio | 307.57 | 307.57 | 0.21 | 0.29 | 0.27 | 0.43 | 0.38 | 0.26 | 0.29 | 0.25 | 0.33 |
| Cash Ratio | 3.94 | 3.94 | 0.04 | 0.06 | 0.02 | 0.02 | 0.04 | 0.03 | 0.02 | 0.03 | 0.02 |
| Asset Turnover | — | 0.04 | 0.04 | 0.04 | 0.04 | 0.03 | 0.04 | 0.05 | 0.05 | 0.05 | 0.05 |
| 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 | 2.8% | 2.8% | 2.6% | 3.2% | 2.9% | 2.6% | 3.0% | 3.1% | 2.6% | 3.7% | 3.0% |
| Payout Ratio | 68.1% | 68.1% | 78.9% | 65.8% | 52.0% | 51.1% | 49.3% | 59.1% | 47.0% | 96.0% | 69.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.5% | 4.5% | 3.3% | 4.9% | 5.5% | 5.0% | 6.1% | 5.2% | 5.5% | 4.4% | 4.4% |
| FCF Yield | 6.0% | 6.1% | 3.7% | 9.9% | 8.0% | 10.0% | 4.1% | 5.2% | 7.9% | 8.0% | 6.7% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 2.8% | 2.8% | 2.7% | 3.2% | 2.9% | 2.6% | 3.0% | 3.1% | 2.6% | 3.7% | 3.0% |
| Shares Outstanding | — | $130M | $113M | $111M | $111M | $99M | $95M | $88M | $84M | $78M | $76M |
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying GBCI stock.
Glacier Bancorp, Inc.'s current P/E ratio is 22.3x. The historical average is 19.6x. This places it at the 77th percentile of its historical range.
Glacier Bancorp, Inc.'s current EV/EBITDA is 22.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 21.6x.
Glacier Bancorp, Inc.'s return on equity (ROE) is 6.4%. The historical average is 12.0%.
Based on historical data, Glacier Bancorp, Inc. is trading at a P/E of 22.3x. This is at the 77th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Glacier Bancorp, Inc.'s current dividend yield is 2.82% with a payout ratio of 68.1%.
Glacier Bancorp, Inc. has 69.0% gross margin and 22.9% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Glacier Bancorp, Inc.'s Debt/EBITDA ratio is 7.9x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
CRE concentration in mountain markets
Metrics are mathematically derived from official filings.
Premium Priced for M&A Optionality
GBCI trades at 1.46x P/B and 23.7x trailing P/E, a premium to peers like COLB (1.17x) and WAFD (0.97x), reflecting market expectations for continued acquisition-driven growth.
The forward P/E of 15.4x implies the market expects significant earnings growth, likely from M&A and margin expansion. However, the premium P/B suggests investors are paying for the serial acquirer model, which may be challenged if acquisition pace slows or integration costs rise. The dividend yield of 2.6% is lower than peers, indicating capital is being retained for growth rather than returned.
ROE Recovery Masked by Fee Volatility
ROE improved to 2.3% in 2026Q2 from 1.1% in 2024Q1, driven by NIM expansion, but remains below peer average of ~8-10%, as reported in quarterly data.
The DuPont decomposition shows ROE is constrained by low asset utilization (ROA of 0.3%) and modest leverage (equity/assets of 14%). NIM expansion to 0.9% is positive, but the efficiency ratio rising to 52.9% indicates cost growth is outpacing revenue. Non-interest income fell to zero in 2026Q2, highlighting reliance on net interest income and potential volatility from mortgage banking.
Margin Expansion Meets Cost Creep
NIM expanded to 0.9% in 2026Q2 from 0.6% a year earlier, according to financial statements, but the efficiency ratio deteriorated to 52.9% from 44.5%, signaling operating leverage is turning negative.
The NIM improvement suggests asset repricing is outpacing deposit costs, but the efficiency ratio rise indicates expenses are growing faster than revenue, possibly due to branch network and personnel costs. If this trend continues, it could erode the benefits of margin expansion. Investors should monitor whether cost control measures are implemented to reverse the efficiency ratio trend.
Capital Ratios Strengthen but Below Peers
Equity-to-assets rose to 13.6% in 2026Q2 from 12.1% a year earlier, based on reported figures, indicating improved capital adequacy, though still below the peer average of ~15%.
The increase in equity is partly due to retained earnings and possibly lower AOCI losses as rates stabilize. However, the capital position may be constrained by the need to support loan growth and potential acquisitions. The dividend payout appears sustainable, but the lack of buybacks suggests management is preserving capital for strategic opportunities.
Provision Volatility Clouds Credit Picture
Loan loss provisions swung from $20.3M in 2025Q2 to zero in 2026Q2, as per the income statement, suggesting either improved credit quality or reserve releases, but the volatility warrants caution.
The zero provision in 2026Q2 may indicate a release of reserves due to improved economic forecasts, but it could also reflect management's subjective assessment under CECL. Given the CRE concentration in mountain markets, investors should monitor whether this volatility masks underlying credit deterioration. The lack of charge-off data limits further analysis.
Premium Valuation vs. Operational Laggard
GBCI's P/B of 1.46x is a premium to peers like COLB (1.17x) and WAFD (0.97x), yet its ROE of 2.3% is significantly below the peer average of ~8-10%, as per reported figures.
This disconnect suggests the market is pricing in future improvements from M&A and margin expansion, but the current profitability does not justify the premium. The efficiency ratio of 52.9% is higher than most peers, indicating structural cost disadvantages. If the market's expectations are not met, the stock could de-rate.
P/E Misleads Due to Provision Volatility
The trailing P/E of 23.7x is distorted by volatile provisions and non-recurring items, as evidenced by the swing from $20.3M provision to zero, making it an unreliable valuation metric for GBCI.
For banks, P/E can be misleading because provisions and securities gains/losses can cause earnings to fluctuate significantly. A more appropriate metric is P/TBV, which is less affected by short-term earnings volatility. GBCI's P/TBV of 2.17x (based on price/TBV) still indicates a premium, but it better reflects the underlying franchise value. Investors should focus on core earnings power and tangible book value growth.