NBT Bancorp Inc. (NBTB) Financial Ratios
30 years of historical data (1996–2025) · Financial Services · Banks - Regional
EV/EBITDA
↑
10.27
+5% vs avg
5yr avg: 9.77
30Y Low3.3·High80.9
P/FCF
↓
10.66
-6% vs avg
5yr avg: 11.38
30Y Low7.4·High40.8
P/B Ratio
↓
1.20
↓-13% vs avg
5yr avg: 1.37
30Y Low1.1·High5.2
ROE
↓
9.9%
-8% vs avg
5yr avg: 10.8%
30Y Low1%·High21%
Debt/EBITDA
↓
1.36
↓-44% vs avg
5yr avg: 2.41
30Y Low1.4·High42.2
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
NBTB Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
NBT Bancorp Inc. trades at 13.4x earnings, roughly in line with its 5-year average of 13.5x, sitting at the 27th percentile of its historical range. This is roughly in line with the Financial Services sector median P/E of 13.3x. On a free-cash-flow basis, the stock trades at 10.7x P/FCF, 6% below the 5-year average of 11.4x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.3B | $2.1B | $2.3B | $1.9B | $1.9B | $1.7B | $1.4B | $1.8B | $1.5B | $1.6B | $1.8B |
| Enterprise Value | $2.5B | $2.3B | $2.4B | $2.3B | $2.5B | $726M | $1.1B | $2.4B | $2.4B | $2.4B | $2.6B |
| P/E Ratio → | 13.42 | 12.47 | 16.14 | 15.82 | 12.34 | 10.88 | 13.54 | 14.80 | 13.51 | 19.68 | 23.27 |
| P/S Ratio | 2.69 | 2.44 | 2.88 | 2.83 | 3.49 | 3.40 | 2.87 | 3.53 | 3.28 | 3.80 | 4.58 |
| P/B Ratio | 1.20 | 1.11 | 1.48 | 1.32 | 1.60 | 1.35 | 1.19 | 1.60 | 1.50 | 1.69 | 2.00 |
| P/FCF | 10.66 | 9.65 | 12.81 | 12.66 | 10.64 | 11.12 | 10.30 | 12.19 | 10.85 | 12.41 | 17.20 |
| P/OCF | 9.92 | 8.98 | 12.01 | 11.92 | 10.23 | 10.58 | 9.72 | 11.66 | 10.30 | 11.80 | 16.68 |
P/E links to full P/E history page with 30-year chart
NBTB EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
NBT Bancorp Inc.'s enterprise value stands at 10.3x EBITDA, 5% above its 5-year average of 9.8x. 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 | — | 2.60 | 3.05 | 3.49 | 4.59 | 1.47 | 2.33 | 4.72 | 5.14 | 5.56 | 6.42 |
| EV / EBITDA | 10.27 | 9.35 | 11.58 | 13.14 | 11.46 | 3.31 | 7.46 | 13.62 | 15.89 | 16.75 | 19.47 |
| EV / EBIT | 11.28 | 10.27 | 13.35 | 15.04 | 12.57 | 3.63 | 8.61 | 15.40 | 17.43 | 18.46 | 21.59 |
| EV / FCF | — | 10.30 | 13.55 | 15.58 | 13.99 | 4.80 | 8.36 | 16.30 | 17.01 | 18.16 | 24.15 |
NBTB Profitability
Margins and return-on-capital ratios measuring operating efficiency
NBT Bancorp Inc. earns an operating margin of 25.3%, above the Financial Services sector average of 21.4%. Operating margins have expanded from 23.2% to 25.3% over the past 3 years, signaling improving operational efficiency. ROE of 9.9% is modest. ROIC of 7.9% represents adequate returns on invested capital versus a sector median of 5.7%.
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 | 72.1% | 72.1% | 70.6% | 74.4% | 92.7% | 97.9% | 83.0% | 84.0% | 85.5% | 86.6% | 88.0% |
| Operating Margin | 25.3% | 25.3% | 22.8% | 23.2% | 36.5% | 40.4% | 27.1% | 30.6% | 29.5% | 30.1% | 29.8% |
| Net Profit Margin | 19.5% | 19.5% | 17.9% | 17.9% | 28.3% | 31.3% | 21.2% | 23.9% | 24.2% | 19.3% | 19.6% |
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 | 9.9% | 9.9% | 9.5% | 9.1% | 12.5% | 12.7% | 9.0% | 11.3% | 11.4% | 8.8% | 8.7% |
| ROA | 1.1% | 1.1% | 1.0% | 0.9% | 1.3% | 1.4% | 1.0% | 1.3% | 1.2% | 0.9% | 0.9% |
| ROIC | 7.9% | 7.9% | 6.7% | 5.7% | 8.4% | 9.5% | 5.6% | 5.8% | 5.2% | 5.2% | 5.3% |
| ROCE | 2.4% | 2.4% | 8.9% | 8.5% | 11.8% | 11.9% | 8.4% | 11.1% | 10.7% | 10.4% | 9.8% |
NBTB Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
NBT Bancorp Inc. carries a Debt/EBITDA ratio of 1.4x, which is manageable (67% below the sector average of 4.1x). Net debt stands at $142M ($327M total debt minus $185M cash). Interest coverage of just 1.0x 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 | 0.17 | 0.17 | 0.27 | 0.45 | 0.67 | 0.25 | 0.34 | 0.73 | 1.03 | 0.95 | 0.97 |
| Debt / EBITDA | 1.36 | 1.36 | 2.01 | 3.63 | 3.66 | 1.42 | 2.65 | 4.67 | 6.96 | 6.44 | 6.73 |
| Net Debt / Equity | — | 0.08 | 0.09 | 0.30 | 0.50 | -0.77 | -0.22 | 0.54 | 0.85 | 0.78 | 0.81 |
| Net Debt / EBITDA | 0.59 | 0.59 | 0.63 | 2.46 | 2.74 | -4.36 | -1.73 | 3.44 | 5.76 | 5.31 | 5.60 |
| Debt / FCF | — | 0.65 | 0.74 | 2.92 | 3.35 | -6.32 | -1.94 | 4.11 | 6.17 | 5.76 | 6.95 |
| Interest Coverage | 1.05 | 1.05 | 0.85 | 1.06 | 8.97 | 10.64 | 4.08 | 2.78 | 3.55 | 4.95 | 5.28 |
NBTB Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.60x means NBT Bancorp Inc. can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has improved from 0.14x to 1.60x 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 | 1.60 | 1.60 | 0.04 | 0.14 | 0.17 | 0.29 | 0.22 | 0.14 | 0.14 | 0.18 | 0.19 |
| Quick Ratio | 1.60 | 1.60 | 0.04 | 0.14 | 0.17 | 0.29 | 0.22 | 0.14 | 0.14 | 0.18 | 0.19 |
| Cash Ratio | 1.25 | 1.25 | 0.02 | 0.02 | 0.02 | 0.12 | 0.07 | 0.03 | 0.02 | 0.02 | 0.02 |
| Asset Turnover | — | 0.05 | 0.06 | 0.05 | 0.05 | 0.04 | 0.04 | 0.05 | 0.05 | 0.05 | 0.05 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
NBTB Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
NBT Bancorp Inc. returns 3.6% to shareholders annually — split between a 3.2% dividend yield and 0.4% buyback yield. A payout ratio of 42.9% is moderate and appears sustainable, balancing shareholder returns with reinvestment capacity. The earnings yield of 7.5% (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 | 3.2% | 3.4% | 2.7% | 3.0% | 2.7% | 2.8% | 3.3% | 2.6% | 2.8% | 2.5% | 2.1% |
| Payout Ratio | 42.9% | 42.9% | 44.3% | 47.0% | 32.7% | 30.8% | 45.2% | 38.0% | 38.4% | 48.8% | 49.6% |
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 | 7.5% | 8.0% | 6.2% | 6.3% | 8.1% | 9.2% | 7.4% | 6.8% | 7.4% | 5.1% | 4.3% |
| FCF Yield | 9.4% | 10.4% | 7.8% | 7.9% | 9.4% | 9.0% | 9.7% | 8.2% | 9.2% | 8.1% | 5.8% |
| Buyback Yield | 0.4% | 0.5% | 0.0% | 0.3% | 0.8% | 1.3% | 0.6% | 0.0% | 0.0% | 0.0% | 0.9% |
| Total Shareholder Yield | 3.6% | 3.9% | 2.8% | 3.2% | 3.4% | 4.1% | 3.9% | 2.6% | 2.8% | 2.5% | 3.1% |
| Shares Outstanding | — | $51M | $47M | $45M | $43M | $44M | $44M | $44M | $44M | $44M | $44M |
Peer Comparison
Compare NBTB 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 |
|---|---|---|---|---|---|---|---|---|---|
 NBTBYou | $2B | 13.4 | 10.3 | 10.7 | 72.1% | 25.3% | 9.9% | 7.9% | 1.4 |
 CNOB | $2B | 20.3 | 23.0 | 15.0 | 44.2% | 18.6% | 5.7% | 3.5% | 10.4 |
 TRMK | $3B | 12.1 | 9.5 | 11.4 | 71.0% | 25.5% | 11.0% | 7.1% | 3.4 |
 WSBC | $3B | 15.1 | 15.2 | 11.7 | 62.9% | 19.7% | 6.5% | 4.3% | 5.3 |
 FULT | $4B | 10.4 | 9.8 | 14.6 | 67.4% | 25.7% | 11.7% | 7.5% | 2.5 |
 CBSH | $8B | 12.8 | 12.8 | 12.9 | 80.0% | 34.2% | 15.8% | 8.4% | 3.9 |
 IBCP | $690M | 10.3 | 9.3 | 9.8 | 69.6% | 25.8% | 14.3% | 10.2% | 1.4 |
 SFBS | $4B | 15.7 | 16.8 | — | 51.8% | 33.6% | 16.0% | 7.3% | 4.4 |
 STBA | $2B | 12.8 | 10.2 | 12.7 | 69.4% | 29.5% | 9.4% | 7.4% | 1.8 |
 NWBI | $2B | 15.3 | 13.7 | 14.5 | 68.3% | 18.8% | 7.2% | 5.6% | 2.7 |
 CZWI | $204M | 14.5 | 15.3 | 19.6 | 54.7% | 7.0% | 7.9% | 2.0% | 5.8 |
| Financial Services Median | — | 13.3 | 11.4 | 10.6 | 62.9% | 21.4% | 9.5% | 5.7% | 4.1 |
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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Start ComparisonNBTB — Frequently Asked Questions
Quick answers to the most common questions about buying NBTB stock.
What is NBT Bancorp Inc.'s P/E ratio?
NBT Bancorp Inc.'s current P/E ratio is 13.4x. The historical average is 19.8x. This places it at the 27th percentile of its historical range.
What is NBT Bancorp Inc.'s EV/EBITDA?
NBT Bancorp Inc.'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 16.7x.
What is NBT Bancorp Inc.'s ROE?
NBT Bancorp Inc.'s return on equity (ROE) is 9.9%. The historical average is 11.6%.
Is NBTB stock overvalued?
Based on historical data, NBT Bancorp Inc. is trading at a P/E of 13.4x. This is at the 27th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is NBT Bancorp Inc.'s dividend yield?
NBT Bancorp Inc.'s current dividend yield is 3.19% with a payout ratio of 42.9%.
What are NBT Bancorp Inc.'s profit margins?
NBT Bancorp Inc. has 72.1% gross margin and 25.3% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does NBT Bancorp Inc. have?
NBT Bancorp Inc.'s Debt/EBITDA ratio is 1.4x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.