Amerant Bancorp Inc. (AMTB) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-85.4%

$4.49

vs $30.68 price

Levered DCF

-$1.60

After debt service

Piotroski score

8 / 9

Strong

Altman Z-score

-0.39

Distress zone

Rating

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	15.48×	-50.93×	25.33×	14.35×	11.37×	-368.04×	18.01×	12.05×
P/B	0.85×	0.9×	1.12×	1.28×	1.54×	0.81×	1.11×	0.74×
P/S	1.22×	1.39×	1.49×	2.35×	4.17×	1.9×	2.5×	1.53×
EV / EBITDA	19.34×	-70.92×	30.07×	22.02×	13.74×	315.34×	29.99×	26.49×
Gross margin	57.4%	42.6%	48.6%	77.8%	91.5%	52.2%	73.9%	75.0%
Operating margin	10.1%	-4.2%	7.5%	20.3%	46.8%	-1.3%	17.3%	15.9%
Net margin	8.0%	-2.7%	5.9%	16.4%	36.7%	-0.5%	13.8%	12.6%
Current ratio	0.43×	0.25×	0.19×	0.21×	0.27×	0.27×	0.31×	0.29×
Debt / equity	1.11×	1.13×	1.25×	1.69×	1.28×	1.5×	1.59×	1.72×
Interest coverage	0.28×	-0.09×	0.19×	1.09×	3.37×	-0.06×	0.64×	0.64×
Dividend yield	1.4%	1.6%	1.5%	1.3%	0.2%	0.0%	0.0%	7.2%
Payout ratio	21.8%	-81.4%	37.1%	19.3%	2.0%	0.0%	0.0%	87.3%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	5.6%	-1.8%	4.4%	8.9%	13.5%	-0.2%	6.1%	6.1%
Return on invested capital	1.3%	-0.8%	1.7%	3.0%	5.5%	-0.1%	2.3%	2.2%
Return on assets	0.5%	-0.2%	0.3%	0.7%	1.5%	-0.0%	0.6%	0.6%
Free cash flow yield	12.3%	9.3%	1.9%	-6.6%	4.7%	8.1%	6.9%	9.4%
Earnings yield	6.6%	-2.0%	3.9%	7.0%	8.8%	-0.3%	5.5%	8.3%
Enterprise value	$1.4B	$1.2B	$1.4B	$1.9B	$2.1B	$1.6B	$2.1B	$1.8B
Net debt / EBITDA	8.06×	-25.09×	12.98×	11.26×	5.26×	189.74×	16.95×	18.13×
Cash conversion cycle (days)	5	0	0	147	110	103	66	74