BancFirst Corporation (BANF) 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

-58.3%

$47.31

vs $113.35 price

Levered DCF

$52.33

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

-0.29

Distress zone

Rating

B+

Overall 3 / 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	14.68×	17.89×	15.09×	14.97×	13.78×	19.25×	15.12×	12.96×
P/B	1.91×	2.39×	2.23×	2.31×	1.97×	1.8×	2.03×	1.81×
P/S	4.3×	4.26×	3.96×	4.79×	4.64×	4.13×	4.3×	3.81×
EV / EBITDA	10.59×	1.37×	3.07×	-0.74×	1.51×	2.32×	1.06×	1.36×
Gross margin	82.9%	68.5%	74.4%	90.7%	99.5%	82.1%	86.7%	89.1%
Operating margin	36.8%	30.3%	33.4%	39.3%	41.9%	26.6%	35.8%	37.3%
Net margin	29.2%	23.8%	26.3%	32.0%	33.7%	21.4%	28.5%	29.4%
Current ratio	20.32×	0.33×	0.37×	0.45×	0.35×	0.29×	0.34×	0.36×
Debt / equity	0.07×	0.05×	0.06×	0.07×	0.07×	0.03×	0.03×	0.03×
Interest coverage	0.98×	0.99×	1.35×	5.15×	18.34×	6.04×	3.1×	3.74×
Dividend yield	1.8%	1.5%	1.7%	1.7%	2.0%	2.2%	2.0%	1.9%
Payout ratio	25.9%	26.7%	25.2%	25.1%	26.9%	42.6%	29.5%	24.1%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	13.0%	13.3%	14.8%	15.4%	14.3%	9.3%	13.4%	13.9%
Return on invested capital	1.6%	11.8%	12.7%	14.4%	13.3%	9.1%	13.1%	13.5%
Return on assets	1.6%	1.6%	1.7%	1.6%	1.8%	1.1%	1.6%	1.7%
Free cash flow yield	6.7%	5.8%	6.6%	7.1%	7.7%	4.6%	6.5%	5.4%
Earnings yield	6.8%	5.6%	6.6%	6.7%	7.3%	5.2%	6.6%	7.7%
Enterprise value	$3.5B	$405.8M	$896M	-$192.2M	$344.4M	$328.9M	$197.6M	$235.4M
Net debt / EBITDA	-0.29×	-11.68×	-7.9×	-11.88×	-8.6×	-11.2×	-9.92×	-8.05×
Cash conversion cycle (days)	19	0	0	-314	-7,469	-54	-129	-151