Community Trust Bancorp, Inc. (CTBI) 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

+347.1%

$313.13

vs $70.03 price

Levered DCF

$107.17

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

0.2

Distress zone

Rating

A-

Overall 4 / 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	10.39×	11.5×	10.06×	10.01×	8.83×	11.06×	12.81×	11.82×
P/B	1.19×	1.26×	1.12×	1.3×	1.11×	1×	1.34×	1.24×
P/S	2.49×	2.53×	2.4×	3.2×	3.25×	2.85×	3.51×	3.14×
EV / EBITDA	10.13×	8.08×	7.89×	9.24×	6.97×	9.89×	11.22×	11.44×
Gross margin	66.7%	63.2%	68.6%	86.9%	96.4%	82.0%	80.8%	84.1%
Operating margin	31.0%	28.4%	30.2%	39.5%	46.4%	30.4%	30.6%	31.6%
Net margin	24.0%	22.0%	23.9%	32.0%	36.9%	25.8%	27.4%	26.5%
Current ratio	0.91×	0.27×	0.29×	0.3×	0.39×	0.31×	0.24×	0.21×
Debt / equity	0.46×	0.42×	0.44×	0.46×	0.49×	0.65×	0.5×	0.52×
Interest coverage	1×	0.84×	1.03×	3.53×	7.33×	2.76×	1.78×	2.41×
Dividend yield	3.5%	3.5%	4.1%	3.7%	3.6%	4.1%	3.2%	3.5%
Payout ratio	36.7%	40.3%	41.3%	36.6%	31.7%	45.6%	40.6%	41.2%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	11.5%	10.9%	11.1%	13.0%	12.6%	9.1%	10.5%	10.5%
Return on invested capital	9.1%	7.4%	7.5%	8.6%	8.2%	5.3%	6.7%	6.6%
Return on assets	1.5%	1.3%	1.4%	1.5%	1.6%	1.2%	1.5%	1.4%
Free cash flow yield	9.6%	10.2%	10.1%	11.4%	14.6%	9.3%	9.8%	8.9%
Earnings yield	9.6%	8.7%	9.9%	10.0%	11.3%	9.0%	7.8%	8.5%
Enterprise value	$1.3B	$902.3M	$819.6M	$982M	$806.5M	$747.7M	$870M	$850M
Net debt / EBITDA	2.46×	-0.44×	0.34×	1.53×	0.27×	1.19×	0.56×	2.01×
Cash conversion cycle (days)	4,282	2	0	4	-19	14	0	-6