Latest Ratios: P/E Ratio 21.0x · EV/EBITDA 10.8x · ROE 6.4%. (2017–2026 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $438M | $331M | $289M | $252M | $225M | $246M | $301M | $229M | — | — | — |
| Enterprise Value | $307M | $200M | $170M | $101M | $77M | $-126310200 | $-23471049 | $73M | — | — | — |
| P/E Ratio → | 21.02 | 16.24 | 15.16 | 16.41 | 10.29 | 23.90 | 279.53 | 43.57 | — | — | — |
| P/S Ratio | 4.54 | 3.44 | 3.91 | 3.28 | 2.83 | 4.36 | 5.23 | 3.55 | — | — | — |
| P/B Ratio | 1.32 | 1.02 | 0.92 | 0.85 | 0.84 | 1.02 | 1.27 | 1.02 | — | — | — |
| P/FCF | 49.73 | 37.63 | 8.98 | 10.97 | 8.73 | 5.01 | 9.40 | 710.79 | — | — | — |
| P/OCF | 39.36 | 29.79 | 8.58 | 10.59 | 8.58 | 4.93 | 9.23 | 113.02 | — | — | — |
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 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.08 | 2.30 | 1.31 | 0.97 | -2.24 | -0.41 | 1.14 | — | — | — |
| EV / EBITDA | 10.80 | 7.06 | 4.80 | 4.59 | 2.52 | -7.85 | -4.25 | 8.24 | — | — | — |
| EV / EBIT | 11.58 | 7.56 | 10.91 | 5.20 | 2.76 | -9.47 | -8.82 | 12.24 | — | — | — |
| EV / FCF | — | 22.76 | 5.27 | 4.39 | 2.98 | -2.57 | -0.73 | 227.80 | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 73.1% | 73.1% | 100.0% | 75.2% | 93.6% | 98.4% | 89.7% | 83.4% | 67.0% | 91.3% | 90.1% |
| Operating Margin | 20.9% | 20.9% | 37.3% | 19.7% | 32.7% | 23.0% | 4.5% | 8.7% | 11.7% | 30.0% | 17.2% |
| Net Profit Margin | 16.0% | 16.0% | 21.8% | 15.5% | 25.8% | 17.7% | 1.8% | 7.5% | 10.7% | 19.4% | 11.6% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 6.4% | 6.4% | 6.3% | 5.4% | 8.6% | 4.3% | 0.5% | 3.0% | 6.1% | 10.4% | 5.4% |
| ROA | 1.0% | 1.0% | 1.0% | 0.8% | 1.1% | 0.5% | 0.1% | 0.3% | 0.5% | 1.0% | 0.5% |
| ROIC | 6.2% | 6.2% | 8.1% | 5.2% | 8.2% | 4.2% | 0.9% | 2.6% | 5.0% | 12.0% | 6.0% |
| ROCE | 7.1% | 7.1% | 9.7% | 6.0% | 9.5% | 5.0% | 1.1% | 3.2% | 6.2% | 14.4% | 7.0% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | — | — | — | — | — | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.40 | -0.38 | -0.51 | -0.56 | -1.54 | -1.37 | -0.69 | -1.85 | -0.94 | -0.38 |
| Net Debt / EBITDA | -4.61 | -4.61 | -3.38 | -6.89 | -4.85 | -23.17 | -58.87 | -17.47 | -21.00 | -5.45 | -3.84 |
| Debt / FCF | — | -14.87 | -3.71 | -6.59 | -5.74 | -7.58 | -10.13 | -482.98 | -59.30 | -7.43 | -15.82 |
| Interest Coverage | 0.87 | 0.87 | 1.10 | 0.89 | 5.07 | 9.11 | 1.26 | 1.27 | 1.80 | 5.59 | 3.46 |
Net cash position: cash ($131M) exceeds total debt ($0)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.11 | 0.11 | 0.24 | 0.27 | 0.38 | 0.51 | 0.39 | 0.18 | 0.24 | 0.18 | 0.12 |
| Quick Ratio | 0.11 | 0.11 | 0.24 | 0.27 | 0.38 | 0.51 | 0.39 | 0.18 | 0.24 | 0.18 | 0.12 |
| Cash Ratio | 0.07 | 0.07 | 0.07 | 0.10 | 0.10 | 0.22 | 0.21 | 0.12 | 0.17 | 0.10 | 0.04 |
| Asset Turnover | — | 0.06 | 0.04 | 0.05 | 0.05 | 0.03 | 0.03 | 0.05 | 0.05 | 0.05 | 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 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.8% | 6.2% | 6.6% | 6.1% | 9.7% | 4.2% | 0.4% | 2.3% | — | — | — |
| FCF Yield | 2.0% | 2.7% | 11.1% | 9.1% | 11.5% | 20.0% | 10.6% | 0.1% | — | — | — |
| Buyback Yield | 2.6% | 3.4% | 2.2% | 0.4% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 2.6% | 3.4% | 2.2% | 0.4% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — |
| Shares Outstanding | — | $25M | $25M | $25M | $25M | $25M | $25M | $25M | $11M | $11M | $11M |
Includes 30+ ratios · 10 years · Updated daily
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10-year return with dividends reinvested.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying PBFS stock.
Pioneer Bancorp, Inc.'s current P/E ratio is 21.0x. The historical average is 20.9x. This places it at the 67th percentile of its historical range.
Pioneer Bancorp, Inc.'s current EV/EBITDA is 10.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 5.4x.
Pioneer Bancorp, Inc.'s return on equity (ROE) is 6.4%. The historical average is 5.6%.
Based on historical data, Pioneer Bancorp, Inc. is trading at a P/E of 21.0x. This is at the 67th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Pioneer Bancorp, Inc. has 73.1% gross margin and 20.9% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Key Metrics
Top Statement Risk
CRE concentration and liquidity
Metrics are mathematically derived from official filings.
Premium Pricing Lacks Earnings Support
Based on the reported P/B ratio of 1.34, Pioneer Bancorp trades at a significant premium to peers like Kearny Financial, despite the bank's modest ROE of 1.6% as of 2026Q3, suggesting that the market may be pricing in potential conversion value rather than current operational performance.
The valuation appears disconnected from the bank's underlying profitability, which remains suppressed by high overhead and stagnant asset growth. Investors should monitor whether this premium is justified by the potential for a future second-step conversion or if it represents an overvaluation of the bank's current franchise value.
DuPont Analysis Reveals Margin Compression
According to recent financial data, the bank's ROE has hovered between 1.1% and 2.1% over the last ten quarters, indicating that the combination of a narrow 0.9% NIM and high operating expenses is severely limiting the bank's ability to generate meaningful returns on tangible equity.
The decomposition of profitability suggests that the bank's reliance on spread-based income is failing to offset the high fixed costs of its branch network. Without a significant expansion in non-interest income or a reduction in the efficiency ratio, the bank's profitability will likely remain constrained by its current operating model.
Efficiency Ratio Reflects Operational Drag
As reported in quarterly filings, the efficiency ratio has fluctuated between 46.3% and 57.7% since 2025, suggesting that Pioneer Bancorp struggles to maintain operating leverage while managing the high fixed-cost burden inherent in its 22-branch retail footprint and specialized insurance advisory services.
The persistent NIM of 0.9% indicates that the bank is facing significant pressure from rising funding costs that it cannot pass on to its local Albany-based borrowers. This lack of pricing power, combined with high overhead, suggests that the bank's core operating efficiency warrants further investigation by institutional investors.
Fortress Balance Sheet Limits Growth
Based on the reported equity-to-assets ratio of approximately 15% throughout 2026, Pioneer Bancorp maintains a capital position that far exceeds regulatory minimums, which provides a substantial buffer against credit losses but simultaneously drags on the bank's overall return on equity.
The bank's capital-heavy balance sheet appears to be a byproduct of its MHC structure, which prioritizes stability over aggressive capital deployment. While this provides a fortress-like defense against regional economic downturns, it may also indicate a lack of attractive lending opportunities within the current Albany market environment.
P/E Ratio Obscures Structural Realities
The P/E ratio is the most commonly misapplied metric for Pioneer Bancorp, as it fails to account for the bank's Mutual Holding Company structure, which distorts earnings through dividend waivers and masks the true economic value of the bank's capital-light insurance and wealth management segments.
Investors should prioritize Price-to-Tangible Book Value (P/TBV) over P/E, as the latter is highly sensitive to non-recurring provisions and the unique accounting treatment of the MHC. Relying on P/E risks misinterpreting the bank's valuation by ignoring the potential for future book value accretion from a full public conversion.