Latest Ratios: P/E Ratio 12.7x · EV/EBITDA 10.1x · ROE 11.3%. (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 | $5.9B | $5.4B | $4.7B | $4.2B | $4.2B | $4.4B | $2.9B | $3.8B | $3.0B | $4.3B | $3.4B |
| Enterprise Value | $6.7B | $6.1B | $4.2B | $4.5B | $5.6B | $2.2B | $3.3B | $6.3B | $4.3B | $5.8B | $4.7B |
| P/E Ratio → | 12.74 | 11.21 | 10.36 | 10.80 | 8.09 | 9.58 | — | 11.80 | 9.31 | 19.96 | 23.05 |
| P/S Ratio | 3.89 | 3.55 | 3.30 | 3.07 | 3.07 | 3.42 | 2.32 | 3.14 | 2.67 | 4.07 | 3.79 |
| P/B Ratio | 1.37 | 1.20 | 1.15 | 1.10 | 1.26 | 1.21 | 0.86 | 1.10 | 0.96 | 1.49 | 1.27 |
| P/FCF | 11.23 | 10.26 | 7.70 | 8.93 | 5.20 | 7.88 | 9.28 | 12.29 | 7.44 | 10.97 | 10.60 |
| P/OCF | 10.84 | 9.91 | 7.58 | 8.48 | 5.02 | 7.56 | 8.29 | 10.80 | 6.60 | 10.43 | 10.01 |
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 | — | 4.07 | 2.92 | 3.31 | 4.04 | 1.72 | 2.57 | 5.23 | 3.86 | 5.53 | 5.12 |
| EV / EBITDA | 10.14 | 9.37 | 6.81 | 8.44 | 7.90 | 3.63 | — | 14.25 | 9.95 | 16.20 | 19.79 |
| EV / EBIT | 10.63 | 9.82 | 7.31 | 9.24 | 8.45 | 3.93 | — | 16.13 | 11.21 | 18.86 | 24.89 |
| EV / FCF | — | 11.74 | 6.81 | 9.63 | 6.85 | 3.97 | 10.28 | 20.48 | 10.75 | 14.89 | 14.33 |
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 | 73.1% | 73.1% | 67.6% | 69.2% | 96.0% | 102.1% | 48.0% | 80.7% | 83.3% | 85.6% | 81.3% |
| Operating Margin | 31.0% | 31.0% | 28.0% | 25.9% | 45.0% | 42.2% | -9.0% | 27.2% | 29.6% | 26.6% | 19.1% |
| Net Profit Margin | 24.1% | 24.1% | 22.5% | 20.8% | 35.8% | 34.4% | -3.3% | 22.7% | 25.1% | 18.6% | 15.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 11.3% | 11.3% | 11.6% | 11.0% | 14.9% | 13.0% | -1.3% | 10.0% | 10.9% | 7.7% | 5.8% |
| ROA | 1.4% | 1.4% | 1.3% | 1.1% | 1.5% | 1.3% | -0.1% | 1.1% | 1.2% | 0.8% | 0.6% |
| ROIC | 8.6% | 8.6% | 8.3% | 6.7% | 8.8% | 7.5% | -1.5% | 5.1% | 5.9% | 5.0% | 3.2% |
| ROCE | 3.2% | 3.2% | 11.9% | 11.0% | 15.3% | 13.1% | -3.0% | 10.4% | 11.1% | 9.2% | 5.9% |
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 | 0.30 | 0.30 | 0.23 | 0.40 | 0.67 | 0.55 | 0.63 | 0.89 | 0.59 | 0.70 | 0.61 |
| Debt / EBITDA | 2.04 | 2.04 | 1.57 | 2.83 | 3.16 | 3.31 | — | 6.92 | 4.21 | 5.60 | 7.07 |
| Net Debt / Equity | — | 0.17 | -0.13 | 0.09 | 0.40 | -0.60 | 0.09 | 0.73 | 0.43 | 0.53 | 0.45 |
| Net Debt / EBITDA | 1.18 | 1.18 | -0.89 | 0.61 | 1.90 | -3.58 | — | 5.70 | 3.07 | 4.26 | 5.15 |
| Debt / FCF | — | 1.48 | -0.89 | 0.70 | 1.65 | -3.91 | 1.00 | 8.19 | 3.31 | 3.92 | 3.73 |
| Interest Coverage | 1.23 | 1.23 | 0.94 | 0.94 | 7.57 | 11.59 | -1.08 | 1.70 | 2.13 | 2.85 | 2.56 |
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 | 0.13 | 0.13 | 0.23 | 0.21 | 0.21 | 0.36 | 0.28 | 0.20 | 0.13 | 0.15 | 0.15 |
| Quick Ratio | 0.13 | 0.13 | 0.23 | 0.21 | 0.21 | 0.36 | 0.28 | 0.20 | 0.13 | 0.15 | 0.15 |
| Cash Ratio | 0.55 | 0.55 | 0.05 | 0.04 | 0.03 | 0.13 | 0.06 | 0.02 | 0.02 | 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 | — | — | — | — | — | — | — | — | — | — | — |
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 | 2.5% | 2.9% | 2.8% | 2.5% | 2.2% | 2.2% | 3.2% | 2.5% | 3.0% | 1.9% | 2.2% |
| Payout Ratio | 31.6% | 31.6% | 28.4% | 26.7% | 18.0% | 20.7% | — | 29.0% | 27.4% | 38.6% | 51.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 7.8% | 8.9% | 9.6% | 9.3% | 12.4% | 10.4% | — | 8.5% | 10.7% | 5.0% | 4.3% |
| FCF Yield | 8.9% | 9.7% | 13.0% | 11.2% | 19.2% | 12.7% | 10.8% | 8.1% | 13.4% | 9.1% | 9.4% |
| Buyback Yield | 4.2% | 4.6% | 0.8% | 0.0% | 1.4% | 0.5% | 0.4% | 4.9% | 0.3% | 0.0% | 0.0% |
| Total Shareholder Yield | 6.7% | 7.5% | 3.6% | 2.5% | 3.6% | 2.7% | 3.7% | 7.4% | 3.3% | 1.9% | 2.2% |
| Shares Outstanding | — | $84M | $87M | $86M | $87M | $89M | $87M | $87M | $86M | $87M | $80M |
Includes 30+ ratios · 30 years · Updated daily
Live VCP patterns, Cup & Handle overlays, support/resistance, and AI trade plans.
High-probability breakout stocks crossing their pivot across 5 pattern engines.
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying HWC stock.
Hancock Whitney Corporation's current P/E ratio is 12.7x. The historical average is 16.2x. This places it at the 31th percentile of its historical range.
Hancock Whitney Corporation's current EV/EBITDA is 10.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.9x.
Hancock Whitney Corporation's return on equity (ROE) is 11.3%. The historical average is 10.1%.
Based on historical data, Hancock Whitney Corporation is trading at a P/E of 12.7x. This is at the 31th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Hancock Whitney Corporation's current dividend yield is 2.52% with a payout ratio of 31.6%.
Hancock Whitney Corporation has 73.1% gross margin and 31.0% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Hancock Whitney Corporation's Debt/EBITDA ratio is 2.0x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.
Key Metrics
Top Statement Risk
Coastal insurance-driven credit stress
Metrics are mathematically derived from official filings.
Premium Priced for Gulf South Franchise
HWC trades at 1.43x tangible book, a premium to peers like HOMB and UBSI, reflecting its relationship-based deposit franchise and stable returns, per recent market data.
The P/B of 1.43x is above the peer median of roughly 1.2x, suggesting the market assigns value to HWC's sticky, low-cost deposit base and Gulf South niche. However, the forward P/E of 11.66x implies modest earnings growth expectations, which may be conservative given the bank's 10% linked-quarter annualized loan growth. The premium appears justified if the bank can maintain its NIM and control credit costs, but any deterioration in energy or CRE portfolios could compress the multiple.
ROE Stability Masks Fee Volatility
ROE has held near 2.9% for five quarters, but the 2026Q1 dip to 1.1% highlights earnings fragility from non-interest income swings, as reported in quarterly data.
The DuPont decomposition shows ROE is driven by a thin NIM of 0.8% and moderate leverage (equity/assets at 12%), with non-interest income contributing only 20.8% of revenue in 2026Q2. The 2026Q1 fee collapse to $7.5M underscores the lumpiness of income from NMTC and other specialized sources, which can distort quarterly ROE. Investors should focus on pre-provision net revenue to gauge core profitability, as provision volatility and fee swings obscure the underlying earnings power.
NIM Flat, Efficiency Improves
Net interest margin remained at 0.8% for five consecutive quarters, while the efficiency ratio improved to 43.3% in 2026Q2 from 54.0% in 2026Q1, per company filings.
The flat NIM suggests that rising funding costs are offsetting loan yield gains, a trend consistent with the negative YoY revenue growth of -1.5%. The efficiency ratio improvement indicates strong expense discipline, but this may be partly due to the timing of fee income recognition. If deposit betas continue to rise, NIM could compress, putting pressure on the efficiency ratio unless revenue growth accelerates.
Conservative Leverage Supports Flexibility
Equity/assets stands at 12% with parent-level debt/equity of 0.30, indicating a conservative capital structure that provides ample buffer for organic growth or capital return, based on financial statements.
The low leverage and strong capital ratios suggest HWC has capacity to increase dividends or buybacks, especially given the 68% payout ratio in 2026Q2. However, the bank's focus on organic growth in Texas markets may prioritize reinvestment over capital return. The CET1 ratio, while not explicitly provided, appears healthy given the equity base, but investors should monitor any potential AOCI impacts from securities portfolio repositioning.
Credit Stable, Insurance Risk Looms
Provision for credit losses remained contained at $13.8M in 2026Q2, with low charge-offs, but rising coastal insurance premiums may stress CRE and small business borrowers, per recent earnings commentary.
Current credit metrics appear stable, but the bank's geographic concentration in the Gulf South exposes it to climate-related risks that are not fully captured in traditional NPL ratios. The provision coverage may be adequate for current conditions, but a spike in insurance costs could weaken borrowers' debt-service coverage, leading to future charge-offs. Investors should monitor the bank's qualitative overlays and any changes in reserve levels as leading indicators.
Premium Valuation vs. Regional Peers
HWC's P/B of 1.43x exceeds most peers like HOMB (1.39x) and UBSI (1.22x), but trails FFIN's 2.56x, reflecting its Gulf South niche and growth potential, per peer data.
Compared to peers, HWC's ROE of 2.9% is lower than FFIN's 14.2% and SNV's 14.4%, but this is partly due to the bank's conservative leverage and higher equity base. The valuation premium suggests the market expects HWC to improve profitability through loan growth and cost control, but the bank's reliance on slower-growth legacy markets may limit upside. The discount to FFIN may reflect perceived hurricane risk and slower population growth in the Gulf South.
P/E Misleads Due to Provision Volatility
The P/E ratio is distorted by volatile provision expenses and fee income swings, as seen in 2026Q1's EPS of $0.58, making P/TBV a more stable valuation metric, per quarterly data.
For banks like HWC, P/E can be misleading because provisions for credit losses and non-recurring items like NMTC income cause earnings to fluctuate. The 2026Q1 EPS miss of 58% YoY illustrates this volatility, which is not indicative of core earning power. Instead, investors should use P/TBV or P/PPNR to assess valuation, as these metrics smooth out credit and fee volatility. The current P/TBV of 1.43x appears reasonable given the bank's franchise value and growth prospects.