BankUnited, Inc. (BKU) 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

-121.7%

-$9.61

vs $44.41 price

Levered DCF

$152.70

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

-0.42

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	12.52×	12.31×	13.57×	9.57×	9.36×	16.88×	11.64×	9.95×
P/B	1.11×	1×	0.92×	1.1×	1.26×	1.07×	1.17×	1.06×
P/S	1.58×	1.39×	1.22×	2.05×	3.5×	2.66×	2.44×	1.96×
EV / EBITDA	12.61×	15.82×	24.47×	18.63×	12×	21.18×	17.39×	16.87×
Gross margin	49.5%	47.3%	44.9%	70.0%	91.2%	58.8%	62.4%	73.1%
Operating margin	16.7%	15.6%	12.2%	28.7%	41.1%	20.8%	28.3%	26.3%
Net margin	12.5%	11.5%	9.2%	21.8%	37.9%	16.5%	21.9%	20.5%
Current ratio	15.41×	0.02×	0.02×	0.02×	0.01×	0.01×	0.01×	0.02×
Debt / equity	0.65×	1.29×	2.26×	2.6×	0.93×	1.35×	1.68×	1.84×
Interest coverage	0.44×	0.31×	0.24×	1.18×	2.74×	0.79×	0.76×	1.04×
Dividend yield	2.7%	3.0%	3.3%	3.0%	2.2%	2.7%	2.4%	2.9%
Payout ratio	34.2%	36.8%	44.3%	27.9%	20.7%	43.7%	26.9%	28.1%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	8.8%	8.3%	6.9%	11.7%	13.7%	6.6%	10.5%	11.1%
Return on invested capital	0.8%	3.2%	1.9%	3.0%	6.5%	2.6%	3.7%	3.7%
Return on assets	0.8%	0.7%	0.5%	0.8%	1.2%	0.6%	1.0%	1.0%
Free cash flow yield	10.6%	15.4%	27.6%	48.3%	31.1%	26.5%	16.4%	20.4%
Earnings yield	7.9%	8.3%	7.5%	10.6%	10.8%	6.2%	9.0%	10.5%
Enterprise value	$5.1B	$6B	$7.6B	$8.4B	$6.3B	$6.8B	$8.3B	$8.1B
Net debt / EBITDA	4.3×	8.36×	16.83×	12.72×	4.76×	11.27×	10.06×	10.4×
Cash conversion cycle (days)	-5,802	0	0	0	0	0	0	0