Latest Ratios: P/E Ratio 14.7x · EV/EBITDA 12.3x · ROE 12.6%. (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 | $10.2B | $8.8B | $5.5B | $4.1B | $4.1B | $5.2B | $3.3B | $3.4B | $3.0B | $3.6B | $3.8B |
| Enterprise Value | $13.0B | $11.6B | $-27864980 | $2.0B | $5.0B | $-574158820 | $2.4B | $3.6B | $2.9B | $3.2B | $4.6B |
| P/E Ratio → | 14.66 | 12.60 | 12.55 | 11.64 | 9.43 | 14.66 | 11.63 | 13.84 | 15.51 | 14.50 | 23.95 |
| P/S Ratio | 3.45 | 2.98 | 3.77 | 3.07 | 2.99 | 4.32 | 2.74 | 3.28 | 3.20 | 3.89 | 4.52 |
| P/B Ratio | 1.33 | 1.14 | 1.60 | 1.31 | 1.53 | 1.64 | 1.11 | 1.29 | 1.36 | 1.64 | 1.94 |
| P/FCF | 10.40 | 8.99 | 27.53 | 9.14 | 5.67 | 10.34 | 10.64 | 12.59 | 12.76 | 12.36 | 15.47 |
| P/OCF | 9.91 | 8.57 | 24.58 | 8.62 | 5.29 | 9.68 | 8.93 | 9.91 | 10.26 | 10.98 | 12.82 |
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 | — | 3.95 | -0.02 | 1.49 | 3.67 | -0.48 | 1.95 | 3.54 | 3.11 | 3.45 | 5.46 |
| EV / EBITDA | 12.28 | 10.98 | -0.05 | 4.10 | 8.52 | -1.18 | 5.92 | 10.63 | 10.63 | 10.92 | 18.16 |
| EV / EBIT | 14.46 | 12.94 | -0.05 | 4.67 | 9.39 | -1.34 | 7.02 | 12.72 | 13.16 | 13.45 | 23.14 |
| EV / FCF | — | 11.90 | -0.14 | 4.42 | 6.96 | -1.15 | 7.59 | 13.59 | 12.38 | 10.96 | 18.71 |
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 | 54.4% | 54.4% | 53.3% | 57.2% | 83.5% | 94.7% | 84.0% | 81.6% | 82.0% | 89.9% | 93.1% |
| Operating Margin | 20.3% | 20.3% | 20.5% | 18.8% | 33.6% | 34.5% | 26.2% | 23.4% | 20.9% | 24.1% | 22.9% |
| Net Profit Margin | 15.8% | 15.8% | 16.7% | 15.6% | 27.3% | 28.4% | 22.1% | 20.0% | 18.3% | 25.2% | 18.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 12.6% | 12.6% | 13.4% | 12.1% | 14.9% | 11.5% | 10.2% | 10.1% | 8.9% | 11.9% | 8.2% |
| ROA | 1.1% | 1.1% | 0.9% | 0.8% | 1.1% | 0.9% | 1.0% | 1.0% | 0.9% | 1.2% | 0.8% |
| ROIC | 7.5% | 7.5% | 6.2% | 5.3% | 6.7% | 5.3% | 5.0% | 5.1% | 4.6% | 4.8% | 3.9% |
| ROCE | 14.4% | 14.4% | 12.0% | 10.4% | 15.2% | 12.2% | 10.8% | 11.0% | 9.6% | 10.8% | 9.7% |
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 | 0.49 | 0.49 | 0.86 | 1.13 | 0.98 | 1.12 | 0.86 | 0.75 | 0.72 | 0.61 | 0.99 |
| Debt / EBITDA | 3.58 | 3.58 | 5.04 | 7.29 | 4.44 | 7.24 | 6.44 | 5.75 | 5.79 | 4.60 | 7.64 |
| Net Debt / Equity | — | 0.37 | -1.61 | -0.68 | 0.35 | -1.83 | -0.32 | 0.10 | -0.04 | -0.19 | 0.41 |
| Net Debt / EBITDA | 2.69 | 2.69 | -9.37 | -4.38 | 1.58 | -11.85 | -2.38 | 0.78 | -0.33 | -1.39 | 3.14 |
| Debt / FCF | — | 2.91 | -27.67 | -4.72 | 1.29 | -11.48 | -3.05 | 1.00 | -0.38 | -1.39 | 3.24 |
| Interest Coverage | 0.60 | 0.60 | 0.46 | 0.46 | 2.38 | 9.33 | 4.39 | 1.49 | 1.84 | 4.08 | 7.17 |
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 | 0.01 | 0.01 | 0.36 | 0.34 | 0.26 | 0.55 | 0.44 | 0.39 | 0.40 | 0.42 | 0.42 |
| Quick Ratio | 0.01 | 0.01 | 0.36 | 0.34 | 0.26 | 0.55 | 0.44 | 0.39 | 0.40 | 0.42 | 0.42 |
| Cash Ratio | 0.01 | 0.01 | 0.19 | 0.14 | 0.05 | 0.24 | 0.12 | 0.07 | 0.08 | 0.09 | 0.06 |
| Asset Turnover | — | 0.06 | 0.05 | 0.05 | 0.04 | 0.03 | 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 | 1.3% | 1.5% | 1.4% | 1.8% | 1.8% | 1.3% | 1.8% | 1.8% | 1.9% | 1.4% | 1.3% |
| Payout Ratio | 19.3% | 19.3% | 17.5% | 21.2% | 16.7% | 18.9% | 21.0% | 24.4% | 29.8% | 21.0% | 30.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.8% | 7.9% | 8.0% | 8.6% | 10.6% | 6.8% | 8.6% | 7.2% | 6.4% | 6.9% | 4.2% |
| FCF Yield | 9.6% | 11.1% | 3.6% | 10.9% | 17.6% | 9.7% | 9.4% | 7.9% | 7.8% | 8.1% | 6.5% |
| Buyback Yield | 1.3% | 1.5% | 0.1% | 0.2% | 0.8% | 0.1% | 1.9% | 0.1% | 2.5% | 0.4% | 0.4% |
| Total Shareholder Yield | 2.6% | 3.0% | 1.5% | 2.0% | 2.6% | 1.4% | 3.7% | 1.9% | 4.4% | 1.9% | 1.7% |
| Shares Outstanding | — | $76M | $49M | $49M | $49M | $49M | $48M | $49M | $50M | $50M | $49M |
Includes 30+ ratios · 30 years · Updated daily
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10-year return with dividends reinvested.
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Quick answers to the most common questions about buying UMBF stock.
UMB Financial Corporation's current P/E ratio is 14.7x. The historical average is 20.6x. This places it at the 40th percentile of its historical range.
UMB Financial Corporation's current EV/EBITDA is 12.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 12.6x.
UMB Financial Corporation's return on equity (ROE) is 12.6%. The historical average is 9.5%.
Based on historical data, UMB Financial Corporation is trading at a P/E of 14.7x. This is at the 40th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
UMB Financial Corporation's current dividend yield is 1.32% with a payout ratio of 19.3%.
UMB Financial Corporation has 54.4% gross margin and 20.3% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
UMB Financial Corporation's Debt/EBITDA ratio is 3.6x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.
Key Metrics
Top Statement Risk
High variable-rate loan exposure
Metrics are mathematically derived from official filings.
Premium Priced for Embedded Fintech
UMBF trades at 1.44x tangible book, a premium to regional peers like WTFC and BOKF, reflecting market recognition of its institutional fee businesses, as per recent market data.
The P/B of 1.44x sits above the peer median of ~1.4x, but below CBSH's 2.14x, suggesting the market partially credits UMBF's HSA and fund services moat. With forward P/E of 11.06x, the market implies ROTCE expansion from current levels, likely driven by cost synergies from the Heartland acquisition. However, the conglomerate discount may persist until the market fully separates the high-growth healthcare payments from the traditional lending business.
ROE Recovery Masked by Provision Volatility
ROE improved to 3.5% in Q2 2026 from 1.6% a year earlier, but remains below peers due to a thin NIM of 0.7%, as reported in UMBF's quarterly filings.
DuPont decomposition shows ROE is driven by asset utilization (fee income at 22% of revenue) and leverage (equity/assets at 11%), but NIM is exceptionally low at 0.7%, reflecting a large securities portfolio and low-yielding assets. The efficiency ratio of 35.6% indicates strong cost control, yet profitability quality is strained by provision volatility—the $427M charge in Q3 2025 distorted quarterly ROE. Normalizing for provisions, core ROE likely approaches 10%, but the market may be discounting this due to earnings lumpiness.
Thin NIM, Strong Efficiency Gains
NIM held at 0.7% in Q2 2026, unchanged from Q1, while the efficiency ratio improved to 35.6% from 47.0%, according to UMBF's earnings release.
The stable NIM suggests the high variable-rate loan mix (69% of loans) is offset by the low-yielding securities portfolio, which comprises over 90% of assets. The efficiency ratio improvement is a positive operating leverage signal, but it may be partly due to acquisition-related revenue scale. Investors should monitor whether NIM can expand as the securities portfolio reprices, especially given the lack of rate guidance.
Capital Strengthened Post-Acquisition
Equity-to-assets rose to 11.1% in Q2 2026 from 7.1% in Q1 2024, indicating a solid capital position, as per UMBF's balance sheet data.
The improved equity ratio suggests the Heartland acquisition was capital-accretive, but the large securities portfolio (over 90% of assets) exposes capital to AOCI volatility. While CET1 is not disclosed, the equity ratio implies regulatory capital is adequate, but investors should watch for unrealized losses that could pressure capital if rates rise. The dividend yield of 1.2% is modest, suggesting management prioritizes retention for integration and growth.
Provision Volatility Clouds Credit Picture
Loan loss provisions swung from $427.0M in Q3 2025 to $28.0M in Q2 2026, reflecting a normalization after a large charge, as reported in UMBF's quarterly filings.
The dramatic provision swing suggests either a one-time credit event or a change in reserve methodology, warranting scrutiny. CEO commentary highlights 'exceptional asset quality,' but the Q3 2025 charge indicates potential stress in the commercial book, possibly from the Southwest real estate exposure. Reserve adequacy appears adequate, but the volatility makes it difficult to assess the true credit trend.
P/E Misleads on Earnings Quality
UMBF's P/E of 15.9x appears reasonable, but it obscures the impact of acquisition accounting and provision volatility, as per recent financial disclosures.
The P/E ratio is commonly misapplied to banks because it fails to capture the quality of earnings. For UMBF, the 68.5% revenue growth from the Heartland acquisition inflates earnings, while the $427M provision in Q3 2025 distorts the denominator. A more appropriate metric is P/TBV, which at 1.44x reflects the tangible book value and is less sensitive to accounting distortions. Investors should also adjust for AOCI to assess true capital strength.