Equity Bancshares, Inc. (EQBK) 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

+32.6%

$66.50

vs $50.14 price

Levered DCF

$87.74

After debt service

Piotroski score

5 / 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	36.01×	10.5×	67.8×	9.18×	9.72×	-4.34×	18.82×	15.13×
P/B	1.16×	1.12×	1.16×	1.29×	1.02×	0.8×	1.01×	1.19×
P/S	2.7×	2.03×	2.34×	2.4×	2.73×	1.84×	2.43×	3.03×
EV / EBITDA	7.81×	6.69×	49.21×	8.88×	5.49×	-2.7×	19.21×	15.62×
Gross margin	50.4%	66.7%	60.4%	88.5%	96.7%	73.4%	65.6%	77.2%
Operating margin	10.4%	24.0%	1.1%	31.9%	34.5%	-42.1%	16.6%	25.8%
Net margin	7.2%	19.2%	3.5%	26.2%	28.1%	-42.3%	12.9%	20.0%
Current ratio	1.41×	0.28×	0.31×	0.3×	0.35×	0.33×	0.08×	0.12×
Debt / equity	0.61×	0.53×	0.84×	0.69×	0.3×	0.33×	0.8×	1.02×
Interest coverage	0.31×	0.71×	0.03×	2.77×	4.36×	-3.26×	0.66×	1.26×
Dividend yield	1.3%	1.2%	1.3%	1.1%	0.2%	0.0%	0.0%	0.0%
Payout ratio	50.2%	12.6%	84.6%	9.6%	2.2%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	3.1%	10.6%	1.7%	14.1%	10.5%	-18.4%	5.4%	7.9%
Return on invested capital	3.7%	6.5%	0.3%	8.2%	7.8%	-13.6%	2.9%	3.9%
Return on assets	0.4%	1.2%	0.2%	1.2%	1.0%	-1.9%	0.6%	0.9%
Free cash flow yield	4.5%	9.9%	11.5%	13.3%	19.2%	10.4%	8.6%	5.1%
Earnings yield	2.7%	9.4%	1.5%	10.9%	10.3%	-23.0%	5.3%	6.6%
Enterprise value	$690.7M	$592.7M	$543.9M	$707.4M	$402.4M	$179.1M	$773.6M	$809M
Net debt / EBITDA	-1.8×	-0.8×	1.56×	2.23×	-1.46×	2.21×	7.26×	5.15×
Cash conversion cycle (days)	39	32	-108	-440	-2,745	-115	-70	-87