Latest Ratios: P/E Ratio 3.9x · EV/EBITDA 11.7x · ROE 8.2%. (2020–2025 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 |
|---|---|---|---|---|---|---|---|
| Market Cap | $284M | $247M | $13M | $28M | $62M | $1.6B | $1.4B |
| Enterprise Value | $1.3B | $1.3B | $-457236662 | $-1979230320 | $-3076573278 | $1.0B | $676M |
| P/E Ratio → | 3.90 | 3.46 | 0.27 | 1.18 | 4.54 | — | 19.32 |
| P/S Ratio | 0.60 | 0.52 | 0.03 | 0.08 | 0.19 | 721.74 | 38.74 |
| P/B Ratio | 0.49 | 0.43 | 0.01 | 0.02 | 0.02 | 2.19 | 1.63 |
| P/FCF | 6.85 | 5.95 | 0.68 | — | — | — | 22.73 |
| P/OCF | 6.42 | 5.58 | 0.64 | — | — | — | 22.31 |
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 |
|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.73 | -1.17 | -5.46 | -9.49 | 474.95 | 18.68 |
| EV / EBITDA | 11.67 | 11.34 | -5.96 | -40.64 | -81.58 | — | 161.29 |
| EV / EBIT | 12.00 | 11.66 | -6.27 | -44.29 | -91.31 | — | 59.54 |
| EV / FCF | — | 30.99 | -24.38 | — | — | — | 10.96 |
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 |
|---|---|---|---|---|---|---|---|
| Gross Margin | 50.9% | 50.9% | 48.0% | 54.6% | 78.7% | 47.3% | 100.0% |
| Operating Margin | 23.4% | 23.4% | 18.7% | 12.3% | 10.4% | -2353.1% | 10.1% |
| Net Profit Margin | 17.7% | 17.7% | 14.1% | 9.3% | 7.2% | -2648.7% | 30.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| ROE | 8.2% | 8.2% | 3.5% | 1.5% | 1.3% | -7.3% | 1.3% |
| ROA | 1.9% | 1.9% | 2.6% | 1.0% | 0.9% | -6.2% | 1.1% |
| ROIC | 4.6% | 4.6% | 3.3% | 1.4% | 1.4% | -4.8% | 0.3% |
| ROCE | 6.1% | 6.1% | 3.9% | 1.6% | 1.6% | -6.1% | 0.4% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Debt / Equity | 2.70 | 2.70 | 0.02 | 0.08 | 0.03 | 0.02 | 0.00 |
| Debt / EBITDA | 13.54 | 13.54 | 0.37 | 2.75 | 1.99 | — | 0.50 |
| Net Debt / Equity | — | 1.83 | -0.32 | -1.17 | -1.08 | -0.75 | -0.84 |
| Net Debt / EBITDA | 9.17 | 9.17 | -6.13 | -41.22 | -83.23 | — | -173.16 |
| Debt / FCF | — | 25.04 | -25.05 | — | — | — | -11.77 |
| Interest Coverage | 0.48 | 0.48 | 0.36 | 0.27 | 0.51 | — | 505.86 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 0.10 | 0.10 | 20.90 | 5.67 | 4.78 | 7.66 | 9.28 |
| Quick Ratio | 0.10 | 0.10 | 20.90 | 5.67 | 4.78 | 7.66 | 9.28 |
| Cash Ratio | 0.10 | 0.10 | 8.07 | 5.20 | 4.24 | 5.65 | 8.26 |
| Asset Turnover | — | 0.07 | 0.25 | 0.14 | 0.08 | 0.00 | 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 |
|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.2% | 1.3% | 20.3% | 9.1% | 12.4% | — | — |
| Payout Ratio | 3.9% | 3.9% | 4.7% | 7.6% | 33.4% | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Earnings Yield | 25.6% | 28.9% | 370.6% | 84.7% | 22.0% | — | 5.2% |
| FCF Yield | 14.6% | 16.8% | 147.9% | — | — | — | 4.4% |
| Buyback Yield | 28.9% | 33.3% | 97.3% | 2.2% | 2.4% | 0.0% | 0.4% |
| Total Shareholder Yield | 30.1% | 34.6% | 100.0% | 11.3% | 14.8% | 0.0% | 0.4% |
| Shares Outstanding | — | $15M | $15M | $15M | $15M | $33M | $30M |
Mortgage warehouse asset concentration
Based on reported figures, NPB trades at a P/B of 0.49, a significant discount to regional peers like IBCP and MBWM, which suggests the market may be pricing in structural uncertainty regarding the sustainability of its mortgage-centric business model rather than pure franchise value.
The current valuation multiple implies that investors are heavily discounting the bank's tangible book value, likely due to the volatility inherent in mortgage warehouse lending. This suggests that the market views NPB as a commodity balance sheet provider rather than a premium franchise, warranting further investigation into whether this discount is a mispricing of earnings quality or a rational response to cyclical mortgage risks.
As reported in recent financial statements, NPB's ROE has fluctuated between 0.1% and 10.3% over the last ten quarters, indicating that profitability is highly sensitive to non-interest income contributions and the timing of mortgage-related transactional fees rather than stable, recurring net interest income.
The decomposition of ROE suggests that the bank's profitability is driven more by asset utilization within the mortgage warehouse program than by traditional retail banking margins. Investors should monitor whether the recent stabilization in ROE can be maintained without relying on volatile gain-on-sale margins, which appear to be the primary lever for earnings expansion.
According to quarterly data, the bank has successfully improved its efficiency ratio from 39.0% in 2023Q4 to 28.0% in 2026Q1, suggesting that management has effectively scaled the cost base despite the inherent volatility in net interest margins observed over the same period.
While the efficiency ratio trend is positive, the extreme swings in NIM—ranging from 0.6% to 17.7%—indicate that the bank's funding costs and asset yields are subject to significant external pressures. This suggests that operational leverage is currently being used to offset margin compression, a strategy that may become less effective if mortgage volumes continue to face headwinds.
Based on the provided financial data, the bank's equity-to-assets ratio has stabilized at 0.08 as of 2026Q1, which suggests that management is maintaining a consistent capital buffer to support the rapid expansion of its mortgage warehouse assets while remaining within regulatory expectations.
The stability of the capital ratio, despite significant asset growth, indicates a disciplined approach to capital allocation. However, investors should monitor whether this level of capitalization is sufficient to absorb potential shocks in the mortgage market, as the bank's reliance on warehouse lending may necessitate higher capital buffers than traditional regional banks.
As reported in financial statements, the P/E ratio of 3.90 is frequently misapplied to NPB, as it fails to account for the non-cash volatility of mortgage servicing rights and the cyclical nature of warehouse lending that distorts earnings on a quarterly basis.
Using P/E as a primary valuation metric for NPB obscures the underlying earnings power by including transient fair value adjustments. Analysts should instead prioritize P/TBV and adjusted core earnings, which provide a more accurate reflection of the bank's capital-intensive mortgage infrastructure and its long-term value creation potential.
Includes 30+ ratios · 6 years · Updated daily
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Quick answers to the most common questions about buying NPB stock.
Northpointe Bancshares, Inc.'s current P/E ratio is 3.9x. The historical average is 5.8x. This places it at the 60th percentile of its historical range.
Northpointe Bancshares, Inc.'s current EV/EBITDA is 11.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 11.3x.
Northpointe Bancshares, Inc.'s return on equity (ROE) is 8.2%. The historical average is 1.4%.
Based on historical data, Northpointe Bancshares, Inc. is trading at a P/E of 3.9x. This is at the 60th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Northpointe Bancshares, Inc.'s current dividend yield is 1.16% with a payout ratio of 3.9%.
Northpointe Bancshares, Inc. has 50.9% gross margin and 23.4% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Northpointe Bancshares, Inc.'s Debt/EBITDA ratio is 13.5x, indicating high leverage. A ratio above 4x may signal elevated financial risk.