Metropolitan Bank Holding Corp. (MCB) 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

-24.7%

$73.54

vs $97.67 price

Levered DCF

$80.28

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

-0.6

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	11.38×	9.8×	7.36×	10.82×	16.04×	7.62×	13.29×	9.89×
P/B	1.09×	0.89×	0.86×	1.11×	1.72×	0.87×	1.32×	0.96×
P/S	1.53×	1.33×	1.4×	2.23×	4.87×	1.86×	2.81×	2.63×
EV / EBITDA	4.71×	10.62×	7.39×	6.02×	-14.18×	-8.07×	4.74×	6.01×
Gross margin	52.6%	55.0%	59.1%	85.5%	89.8%	82.7%	74.1%	83.5%
Operating margin	19.3%	19.7%	26.5%	33.7%	45.5%	36.2%	31.4%	38.3%
Net margin	13.5%	13.5%	19.2%	20.7%	30.7%	24.7%	21.5%	26.6%
Current ratio	0.13×	0.04×	0.06×	0.06×	0.46×	0.31×	0.24×	0.17×
Debt / equity	0.01×	0.63×	0.83×	0.45×	0.1×	0.18×	0.71×	0.79×
Interest coverage	0.48×	0.45×	0.7×	3.07×	5.5×	3.19×	1.37×	2.89×
Dividend yield	0.4%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	4.4%	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	9.6%	9.1%	11.7%	10.3%	10.9%	11.6%	10.1%	9.7%
Return on invested capital	8.1%	5.1%	5.8%	6.0%	9.4%	9.0%	5.6%	5.3%
Return on assets	0.9%	0.9%	1.1%	0.9%	0.9%	0.9%	0.9%	1.2%
Free cash flow yield	10.2%	22.3%	6.5%	10.4%	3.5%	28.0%	8.1%	9.9%
Earnings yield	8.8%	10.2%	13.7%	9.3%	6.3%	13.2%	7.6%	10.1%
Enterprise value	$426.4M	$910M	$842.8M	$641.5M	-$1.3B	-$504.5M	$216.6M	$229.3M
Net debt / EBITDA	-4.23×	3×	2.43×	0×	-24.33×	-12.84×	-3.89×	-0.61×
Cash conversion cycle (days)	0	0	79	109	-601	-730	-195	-381