Last 48 quarters of trend data · Financial Services · Regional Banks
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 7.75 | 8.80 | 5.67 | 9.23 | 8.27 | 9.56 | 7.97 | 11.03 | 10.12 | 8.62 | 8.47 | 11.30 | 14.06 | 7.72 | 6.00 | 5.63 | 6.68 | 9.08 | 9.86 | 12.91 | 11.78 |
| — | -7.9% | -28.8% | -16.3% | -18.3% | +10.9% | -6.0% | -2.4% | -28.0% | +11.6% | +41.3% | +100.9% | +110.5% | -15.0% | -39.2% | -56.4% | -43.3% | -14.9% | +55.3% | +78.5% | +80.1% | |
| P/S Ratio | 2.51 | 2.58 | 2.22 | 2.49 | 2.41 | 2.42 | 2.28 | 2.31 | 2.44 | 2.19 | 2.08 | 2.15 | 2.22 | 1.68 | 1.27 | 1.32 | 2.10 | 2.30 | 2.51 | 3.62 | 3.27 |
| — | +6.7% | -2.4% | +8.0% | -1.1% | +10.2% | +9.6% | +7.3% | +10.0% | +30.3% | +63.6% | +63.2% | +5.7% | -26.8% | -49.3% | -63.6% | -35.8% | -35.7% | -11.5% | +14.9% | +31.5% | |
| P/B Ratio | 1.33 | 1.18 | 1.32 | 1.16 | 1.20 | 1.21 | 1.16 | 1.16 | 1.31 | 1.09 | 1.06 | 1.10 | 1.14 | 0.97 | 0.75 | 0.85 | 1.50 | 1.62 | 1.36 | 1.58 | 1.30 |
| — | -2.4% | +13.7% | -0.0% | -8.1% | +11.4% | +9.3% | +5.9% | +14.7% | +12.3% | +41.0% | +28.4% | -23.9% | -40.3% | -44.9% | -45.9% | +15.0% | +27.0% | +27.1% | +39.2% | +44.0% | |
| P/FCF | 5.78 | — | 3.21 | 4.84 | 5.25 | 5.04 | — | 12.09 | 4.09 | 17.91 | 6.82 | 6.92 | — | 4.60 | 1.72 | 5.83 | 3.99 | 15.87 | 4.11 | 10.58 | 21.47 |
| — | — | — | -60.0% | +28.5% | -71.9% | — | +74.6% | — | +289.3% | +295.9% | +18.7% | — | -71.0% | -58.1% | -44.9% | -81.4% | -29.0% | — | +102.5% | +48.4% | |
| EV / EBITDA | 6.66 | 6.02 | 4.54 | 6.49 | 6.84 | 8.24 | 8.88 | 8.40 | 7.41 | 6.51 | 8.18 | 10.04 | 12.11 | 7.23 | 7.43 | 10.91 | 10.50 | 9.45 | 6.61 | 5.00 | 0.67 |
| — | -27.0% | -48.9% | -22.7% | -7.6% | +26.6% | +8.6% | -16.3% | -38.8% | -9.9% | +10.1% | -8.0% | +15.3% | -23.5% | +12.4% | +118.4% | +1471.6% | +659.7% | +20613.3% | +249.3% | -88.2% | |
| EV / EBIT | 9.29 | 6.02 | 4.75 | 7.16 | 7.43 | 9.11 | 9.71 | 9.39 | 8.20 | 7.26 | 9.15 | 11.62 | 14.69 | 8.37 | 8.61 | 12.31 | 11.41 | 10.60 | 7.27 | 5.37 | 0.69 |
| — | -34.0% | -51.1% | -23.8% | -9.4% | +25.4% | +6.2% | -19.2% | -44.2% | -13.2% | +6.2% | -5.6% | +28.8% | -21.0% | +18.5% | +129.2% | +1558.0% | +783.8% | +23092.4% | +278.1% | -88.2% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 97.9% | 100.9% | 99.7% | 100.8% | 99.3% | 94.3% | 100.1% | 97.7% | 95.0% | 98.4% | 99.3% | 98.2% | 100.0% | 94.6% | 94.1% | 94.6% | 95.1% | 91.4% | 94.6% | 104.8% | 96.6% |
| — | +7.0% | -0.4% | +3.2% | +4.6% | -4.1% | +0.8% | -0.5% | -5.0% | +3.9% | +5.6% | +3.8% | +5.2% | +3.5% | -0.6% | -9.7% | -1.6% | -14.3% | -18.5% | -11.5% | -11.6% | |
| Operating Margin | 34.7% | 38.1% | 51.3% | 34.6% | 38.0% | 33.1% | 37.2% | 30.1% | 32.9% | 35.0% | 34.2% | 27.4% | 20.5% | 29.8% | 29.0% | 33.6% | 41.1% | 33.6% | 34.0% | 37.2% | 36.2% |
| — | +15.2% | +37.7% | +15.2% | +15.3% | -5.4% | +9.0% | +9.9% | +60.5% | +17.3% | +17.9% | -18.6% | -50.1% | -11.2% | -14.7% | -9.6% | +13.6% | -25.1% | -43.2% | -35.4% | -27.7% | |
| Net Margin | 26.5% | 29.9% | 39.8% | 27.4% | 29.5% | 25.8% | 29.1% | 21.4% | 26.3% | 27.0% | 26.2% | 20.6% | 17.2% | 22.9% | 22.4% | 24.3% | 32.5% | 26.2% | 26.5% | 29.6% | 28.7% |
| — | +15.8% | +36.8% | +28.3% | +11.8% | -4.6% | +11.1% | +3.7% | +52.8% | +18.1% | +16.8% | -15.2% | -47.0% | -12.7% | -15.5% | -17.8% | +13.5% | -24.2% | -43.0% | -34.4% | -27.6% |
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 13.5% | 3.4% | 6.0% | 3.2% | 3.7% | 3.3% | 3.8% | 2.7% | 3.5% | 3.4% | 3.4% | 2.7% | 2.3% | 3.3% | 3.3% | 4.0% | 5.9% | 4.2% | 3.4% | 3.0% | 2.8% |
| — | +3.8% | +60.2% | +17.9% | +8.4% | -4.4% | +11.3% | +2.8% | +50.8% | +4.4% | +1.4% | -34.4% | -61.3% | -21.4% | -1.8% | +37.2% | +111.9% | +38.4% | -23.2% | -27.5% | -23.4% | |
| ROA | 1.0% | 0.3% | 0.5% | 0.3% | 0.3% | 0.3% | 0.3% | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% | 0.1% | 0.2% | 0.2% | 0.2% | 0.3% | 0.2% | 0.2% | 0.2% | 0.2% |
| — | +16.8% | +85.5% | +37.0% | +20.6% | +2.1% | +19.9% | +9.5% | +70.2% | +22.2% | +15.6% | -23.4% | -54.7% | -18.5% | -12.3% | +4.0% | +36.0% | -10.0% | -44.8% | -43.0% | -34.0% | |
| ROIC | 8.0% | 2.3% | 4.3% | 2.1% | 2.2% | 1.7% | 1.9% | 1.7% | 2.0% | 1.9% | 1.7% | 1.4% | 1.1% | 1.6% | 1.2% | 1.2% | 2.0% | 2.3% | 2.6% | 2.3% | 2.2% |
| — | +39.2% | +122.5% | +23.6% | +8.1% | -11.7% | +14.6% | +19.1% | +80.8% | +18.5% | +44.6% | +13.6% | -45.5% | -31.3% | -55.7% | -44.6% | -6.2% | -3.5% | -22.2% | -23.1% | -15.8% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.61 | 0.42 | 0.41 | 0.32 | 0.61 | 0.76 | 1.07 | 0.70 | 0.71 | 0.54 | 1.03 | 0.93 | 0.80 | 0.92 | 1.15 | 2.47 | 2.26 | 1.28 | 0.30 | 0.21 | 0.26 |
| — | -44.3% | -61.3% | -54.2% | -15.2% | +40.3% | +3.8% | -24.8% | -10.7% | -40.9% | -10.2% | -62.2% | -64.7% | -28.2% | +281.9% | +1069.9% | +781.5% | +522.2% | +17.6% | -28.2% | -30.4% | |
| Debt / EBITDA | 3.36 | 9.70 | 5.20 | 7.24 | 11.80 | 16.60 | 20.65 | 16.63 | 14.61 | 11.22 | 21.15 | 23.14 | 24.96 | 18.51 | 23.10 | 40.21 | 28.38 | 19.26 | 5.91 | 4.84 | 6.91 |
| — | -41.6% | -74.8% | -56.5% | -19.2% | +48.0% | -2.4% | -28.2% | -41.5% | -39.4% | -8.4% | -42.4% | -12.0% | -3.9% | +291.1% | +730.3% | +310.5% | +261.4% | +28.8% | -15.2% | -12.0% | |
| Current Ratio | 0.16 | 0.29 | 0.28 | 0.28 | 0.16 | 0.16 | 0.15 | 0.16 | 0.16 | 0.16 | 0.16 | 0.16 | 0.16 | 0.16 | 0.17 | 0.19 | 0.17 | 0.31 | 0.35 | 0.39 | 0.42 |
| — | +79.5% | +82.3% | +77.2% | -5.0% | +3.6% | -6.9% | -2.4% | +0.1% | -3.9% | -3.8% | -14.6% | -6.3% | -48.1% | -51.1% | -51.5% | -58.6% | -20.2% | -9.2% | +11.6% | +69.8% | |
| Quick Ratio | 0.16 | 0.29 | 0.28 | 0.28 | 0.16 | 0.16 | 0.15 | 0.16 | 0.16 | 0.16 | 0.16 | 0.16 | 0.16 | 0.16 | 0.17 | 0.19 | 0.17 | 0.31 | 0.35 | 0.39 | 0.42 |
| — | +79.5% | +82.3% | +77.2% | -5.0% | +3.6% | -6.9% | -2.4% | +0.1% | -3.9% | -3.8% | -14.6% | -6.3% | -48.1% | -51.1% | -51.5% | -58.6% | -20.2% | -9.2% | +11.6% | +69.8% | |
| Interest Coverage | 0.75 | 0.93 | 1.70 | 0.88 | 0.95 | 0.73 | 0.77 | 0.59 | 0.62 | 0.57 | 0.55 | 0.43 | 0.33 | 0.54 | 0.59 | 1.17 | 3.12 | 6.32 | 17.33 | 23.18 | 20.69 |
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Includes 30+ ratios · 48 years · Updated daily
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Quick answers to the most common questions about buying ZION stock.
Zions Bancorporation, National Association's current P/E is 7.8x. The average P/E over the last 4 quarters is 8.0x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Zions Bancorporation, National Association's current operating margin is 34.7%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Zions Bancorporation, National Association's business trajectory between earnings reports.