Latest Ratios: P/E Ratio 23.3x · EV/EBITDA 9.5x · ROE 3.8%. (2016–2025 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 | $167M | $173M | $171M | $129M | $118M | — | — | — | — | — | — |
| Enterprise Value | $94M | $89M | $150M | $152M | $94M | — | — | — | — | — | — |
| P/E Ratio → | 23.31 | 23.11 | 13.89 | 8.82 | 5.20 | — | — | — | — | — | — |
| P/S Ratio | 1.17 | 1.21 | 1.16 | 1.13 | 1.52 | — | — | — | — | — | — |
| P/B Ratio | 0.87 | 0.86 | 0.87 | 0.69 | 0.68 | — | — | — | — | — | — |
| P/FCF | 12.81 | 13.24 | 37.20 | 9.91 | 4.92 | — | — | — | — | — | — |
| P/OCF | 12.81 | 13.24 | 29.06 | 7.85 | 4.70 | — | — | — | — | — | — |
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 | — | 0.62 | 1.01 | 1.33 | 1.22 | — | — | — | — | — | — |
| EV / EBITDA | 9.47 | 8.98 | 7.41 | 6.40 | 2.92 | — | — | — | — | — | — |
| EV / EBIT | 9.47 | 8.98 | 9.16 | 7.51 | 3.09 | — | — | — | — | — | — |
| EV / FCF | — | 6.85 | 32.57 | 11.66 | 3.93 | — | — | — | — | — | — |
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 | 43.9% | 43.9% | 42.8% | 52.6% | 85.0% | 84.7% | 65.6% | 100.0% | 100.0% | 100.0% | 100.0% |
| Operating Margin | 6.9% | 6.9% | 11.0% | 17.7% | 39.4% | 27.0% | 15.0% | 29.0% | 38.6% | 30.0% | 32.0% |
| Net Profit Margin | 5.2% | 5.2% | 8.3% | 13.3% | 30.5% | 20.9% | 12.0% | 20.6% | 23.8% | 16.5% | 20.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 3.8% | 3.8% | 6.5% | 8.5% | 16.0% | 10.8% | 6.6% | 12.8% | 9.6% | 5.8% | 6.1% |
| ROA | 0.3% | 0.3% | 0.6% | 0.8% | 1.4% | 0.9% | 0.6% | 1.1% | 0.8% | 0.5% | 0.5% |
| ROIC | 2.2% | 2.2% | 3.3% | 4.3% | 7.6% | 4.3% | 2.5% | 4.7% | 3.7% | 2.7% | 2.5% |
| ROCE | 1.6% | 1.6% | 2.4% | 1.4% | 1.8% | 1.2% | 0.8% | 2.2% | 1.3% | 0.9% | — |
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 | 0.68 | 0.68 | 0.72 | 1.16 | 0.73 | 1.50 | 1.28 | 1.61 | 2.30 | 1.97 | 1.88 |
| Debt / EBITDA | 13.67 | 13.67 | 6.99 | 9.10 | 3.92 | 11.86 | 13.24 | 9.57 | — | — | — |
| Net Debt / Equity | — | -0.42 | -0.11 | 0.12 | -0.14 | 0.27 | 0.26 | 0.39 | 1.24 | 1.13 | 1.01 |
| Net Debt / EBITDA | -8.38 | -8.38 | -1.05 | 0.96 | -0.73 | 2.12 | 2.64 | 2.31 | — | — | — |
| Debt / FCF | — | -6.39 | -4.63 | 1.75 | -0.99 | 2.96 | — | 4.33 | — | — | — |
| Interest Coverage | 0.14 | 0.14 | 0.20 | 0.40 | 4.25 | 2.02 | 0.48 | 3.64 | — | — | — |
Net cash position: cash ($209M) exceeds total debt ($136M)
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 | 0.14 | 0.14 | 0.11 | 0.35 | 177.30 | 130.51 | 248.69 | 0.42 | — | — | — |
| Quick Ratio | 0.14 | 0.14 | 0.11 | 0.35 | 177.30 | 130.51 | 248.69 | 0.42 | — | — | — |
| Cash Ratio | 0.14 | 0.14 | 0.08 | 0.17 | 163.88 | 117.25 | 214.46 | 0.39 | — | — | — |
| Asset Turnover | — | 0.06 | 0.06 | 0.05 | 0.04 | 0.04 | 0.05 | 0.05 | 0.03 | 0.03 | 0.03 |
| 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 | 1.7% | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | 40.2% | 40.2% | 24.0% | 19.3% | 8.7% | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.3% | 4.3% | 7.2% | 11.3% | 19.2% | — | — | — | — | — | — |
| FCF Yield | 7.8% | 7.6% | 2.7% | 10.1% | 20.3% | — | — | — | — | — | — |
| Buyback Yield | 1.1% | — | — | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 2.8% | — | — | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $7M | $7M | $7M | $6M | $5M | $4M | $4M | $3M | $3M | $3M |
NYC CRE concentration risk
Based on reported figures, HNVR trades at a P/B of 0.87, which suggests that the market is pricing the bank at a discount to its tangible book value, likely reflecting investor skepticism regarding the long-term profitability of its concentrated NYC commercial real estate loan portfolio.
The current valuation multiple appears to imply that investors are discounting the bank's ability to generate a return on tangible equity that exceeds its cost of capital. This discount may indicate that the market views the bank as a commodity balance sheet rather than a premium franchise, particularly given the recent stagnation in asset growth and the thin capital buffers.
As reported in financial statements, the bank's ROE has remained consistently low, often hovering near 1-2%, which indicates that the primary drivers of profitability—NIM and asset utilization—are currently under significant pressure from rising funding costs and a challenging interest rate environment for regional lenders.
The decomposition of profitability suggests that the bank's reliance on interest-bearing deposits in a competitive NYC market is eroding the net interest margin. Without a meaningful contribution from non-interest income or improved asset utilization, the bank's ability to drive sustainable ROE appears limited under current operating conditions.
According to quarterly data, the efficiency ratio has fluctuated between 30% and 43.7%, suggesting that while management attempts to control costs, the bank's high-touch, branch-heavy model in the expensive NYC market remains a structural drag on overall operating leverage and profitability.
The volatility in the efficiency ratio may indicate that the bank is struggling to scale its operations effectively. Investors should monitor whether the bank can maintain cost discipline as it navigates a period of revenue stagnation and potential credit quality deterioration in its core multi-family loan book.
Based on the provided financial records, the equity-to-assets ratio has remained constrained between 0.08 and 0.09, which indicates that the bank maintains a relatively thin capital cushion that may limit its capacity for future loan growth or absorption of unexpected credit losses.
This capital position suggests that the bank is operating with limited flexibility to navigate potential economic downturns in the NYC metro area. The reliance on equity and deposits for funding, rather than long-term debt, warrants further investigation into the bank's ability to maintain regulatory compliance if asset quality declines.
The P/E ratio is frequently misapplied to HNVR, as it obscures the volatility inherent in the bank's provision for credit losses and the lumpy nature of SBA loan sale gains, which can distort quarterly earnings and provide a misleading picture of the bank's core earning power.
Investors should instead focus on P/TBV and core NIM to assess the bank's valuation and operational health. Relying on P/E ignores the reality that bank earnings are highly sensitive to accounting adjustments and non-recurring gains, which do not reflect the underlying stability of the interest-earning portfolio.
Includes 30+ ratios · 10 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying HNVR stock.
Hanover Bancorp, Inc.'s current P/E ratio is 23.3x. The historical average is 12.8x. This places it at the 100th percentile of its historical range.
Hanover Bancorp, Inc.'s current EV/EBITDA is 9.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 6.4x.
Hanover Bancorp, Inc.'s return on equity (ROE) is 3.8%. The historical average is 8.6%.
Based on historical data, Hanover Bancorp, Inc. is trading at a P/E of 23.3x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Hanover Bancorp, Inc.'s current dividend yield is 1.73% with a payout ratio of 40.2%.
Hanover Bancorp, Inc. has 43.9% gross margin and 6.9% operating margin.
Hanover Bancorp, Inc.'s Debt/EBITDA ratio is 13.7x, indicating high leverage. A ratio above 4x may signal elevated financial risk.