Bar Harbor Bankshares (BHB) 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

-23.1%

$31.91

vs $41.49 price

Levered DCF

$55.39

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

-0.66

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	13.38×	10.69×	9.92×	11.05×	11×	10.36×	17.39×	10.53×
P/B	0.97×	1.02×	1.03×	1.22×	1.02×	0.84×	1×	0.94×
P/S	2.13×	2.08×	2.96×	2.99×	2.83×	2.04×	2.4×	2.24×
EV / EBITDA	13.47×	12.22×	31,011.32×	12.79×	6.54×	9.58×	27.3×	21.59×
Gross margin	67.4%	66.6%	100.0%	89.1%	90.8%	80.7%	70.9%	74.7%
Operating margin	19.0%	23.4%	49.6%	34.0%	31.8%	24.6%	16.3%	26.1%
Net margin	15.2%	19.4%	29.8%	27.0%	25.7%	19.7%	13.8%	21.2%
Current ratio	0.17×	0.17×	0.19×	0.19×	0.28×	8.68×	0.24×	0.33×
Debt / equity	0.51×	0.63×	0.7×	1×	0.42×	0.82×	1.34×	1.95×
Interest coverage	0.62×	0.7×	1.32×	4.27×	3.19×	1.55×	0.59×	1.11×
Dividend yield	3.9%	3.8%	3.7%	3.2%	3.2%	3.9%	3.4%	3.5%
Payout ratio	55.3%	40.9%	36.9%	35.2%	35.8%	40.4%	59.1%	37.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	6.9%	9.5%	10.4%	11.1%	9.3%	8.1%	5.7%	8.9%
Return on invested capital	4.3%	5.3%	7.1%	5.0%	5.9%	2.1%	2.3%	2.9%
Return on assets	0.8%	1.1%	1.1%	1.1%	1.1%	0.9%	0.6%	0.9%
Free cash flow yield	8.4%	9.7%	9.2%	11.1%	13.3%	9.1%	5.3%	9.5%
Earnings yield	7.1%	9.3%	10.1%	9.0%	9.1%	9.7%	5.7%	9.5%
Enterprise value	$707.2M	$684.5M	$651.2M	$783.8M	$361.2M	$454.4M	$869M	$972.4M
Net debt / EBITDA	3.6×	3.9×	9,841.1×	4.93×	-1.3×	2.32×	14.91×	13.88×
Cash conversion cycle (days)	0	0	0	0	0	0	0	0