Hancock Whitney Corporation (HWC) 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

-35.1%

$48.00

vs $73.93 price

Levered DCF

$62.05

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

0.3

Distress zone

Rating

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	11.15×	10.32×	10.77×	8.07×	9.56×	-63×	11.8×	9.31×
P/B	1.19×	1.14×	1.1×	1.26×	1.21×	0.86×	1.09×	0.96×
P/S	2.62×	2.31×	2.22×	2.88×	3.29×	2.13×	2.63×	2.29×
EV / EBITDA	9.16×	6.79×	8.44×	7.9×	3.63×	-43.65×	14.24×	9.93×
Gross margin	73.1%	67.6%	69.2%	96.0%	102.1%	48.0%	80.7%	83.3%
Operating margin	31.0%	28.0%	25.9%	45.0%	42.2%	-9.0%	27.2%	29.7%
Net margin	24.1%	22.5%	20.8%	35.8%	34.4%	-3.3%	22.7%	25.1%
Current ratio	0.13×	0.23×	0.21×	0.21×	0.36×	0.28×	0.2×	0.13×
Debt / equity	0.3×	0.23×	0.4×	0.67×	0.55×	0.63×	0.89×	0.59×
Interest coverage	1.23×	0.94×	0.94×	7.57×	11.59×	-1.08×	1.7×	2.13×
Dividend yield	2.9%	2.8%	2.5%	2.2%	2.2%	3.2%	2.5%	3.0%
Payout ratio	31.6%	28.4%	26.7%	18.0%	20.7%	-211.6%	29.0%	27.4%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	10.9%	11.2%	10.3%	15.7%	12.6%	-1.3%	9.4%	10.5%
Return on invested capital	1.4%	8.3%	6.7%	8.6%	7.6%	-0.8%	4.8%	6.4%
Return on assets	1.4%	1.3%	1.1%	1.5%	1.3%	-0.1%	1.1%	1.1%
Free cash flow yield	9.9%	13.0%	11.2%	19.2%	12.7%	10.8%	8.1%	13.5%
Earnings yield	9.2%	9.8%	9.3%	12.4%	10.5%	-1.5%	8.6%	10.9%
Enterprise value	$6.1B	$4.2B	$4.5B	$5.6B	$2.2B	$3.3B	$6.3B	$4.3B
Net debt / EBITDA	1.17×	-0.89×	0.61×	1.9×	-3.58×	-4.24×	5.7×	3.07×
Cash conversion cycle (days)	15	18	13	-20	101	52	18	4