Columbia Financial, Inc. (CLBK) 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

-70.1%

$3.33

vs $11.15 price

Levered DCF

$5.03

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

-0.4

Distress zone

Rating

C+

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	30.45×	-143.8×	55.06×	26.37×	23.7×	29.91×	34.57×	76.45×
P/B	1.36×	1.49×	1.9×	2.17×	2.01×	1.69×	1.92×	1.75×
P/S	3.1×	3.55×	4.68×	6.71×	7.03×	5.23×	6.44×	6.9×
EV / EBITDA	32.16×	-1,773.62×	51.12×	24.81×	17.98×	24.05×	42.24×	76.19×
Gross margin	50.3%	36.5%	54.1%	85.8%	91.2%	71.9%	68.4%	72.5%
Operating margin	11.9%	-3.5%	10.9%	34.4%	40.8%	23.4%	24.3%	13.6%
Net margin	10.2%	-2.6%	8.5%	25.3%	29.8%	17.7%	18.7%	9.2%
Current ratio	0.08×	0.14×	0.2×	0.19×	0.23×	0.25×	0.2×	0.23×
Debt / equity	1.02×	1×	1.47×	1.07×	0.35×	0.79×	1.43×	1.22×
Interest coverage	0.26×	-0.06×	0.24×	2.72×	3.41×	1.03×	0.81×	0.55×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	4.5%	-1.1%	3.5%	8.2%	8.5%	5.7%	5.6%	2.3%
Return on invested capital	0.9%	-0.5%	1.3%	3.9%	6.2%	3.1%	2.3%	1.0%
Return on assets	0.5%	-0.1%	0.3%	0.8%	1.0%	0.7%	0.7%	0.3%
Free cash flow yield	3.7%	1.6%	1.7%	5.9%	4.3%	2.6%	0.1%	2.5%
Earnings yield	3.3%	-0.7%	1.8%	3.8%	4.2%	3.4%	2.9%	1.3%
Enterprise value	$2.4B	$2.4B	$3.1B	$3.2B	$2.5B	$2.1B	$3.2B	$2.9B
Net debt / EBITDA	11.21×	-584.91×	18.33×	7.28×	2.22×	4.35×	17.5×	30.66×
Cash conversion cycle (days)	30	33	34	36	33	33	28	28