Bank OZK (OZK) 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

+92.3%

$99.93

vs $51.96 price

Levered DCF

$104.85

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

0.36

Distress zone

Rating

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	7.41×	7.23×	8.45×	8.8×	10.36×	13.84×	9.25×	7.05×
P/B	0.83×	0.89×	1.11×	1.03×	1.24×	0.95×	0.95×	0.78×
P/S	1.81×	1.82×	2.53×	3.49×	5.06×	3.44×	3.12×	2.44×
EV / EBITDA	5.23×	3.1×	5.18×	6.25×	6.51×	6.56×	5.18×	5.27×
Gross margin	55.4%	53.4%	62.0%	85.0%	99.7%	66.4%	75.9%	77.2%
Operating margin	33.3%	33.6%	38.5%	52.3%	63.4%	32.0%	44.7%	46.1%
Net margin	25.5%	25.8%	30.7%	40.9%	48.8%	24.8%	33.7%	34.7%
Current ratio	0.8×	0.11×	0.2×	0.21×	0.3×	0.27×	0.21×	0.18×
Debt / equity	0.08×	0.15×	0.25×	0.23×	0.25×	0.26×	0.17×	0.12×
Interest coverage	0.87×	0.83×	1.26×	5.83×	9.23×	1.96×	2.03×	2.65×
Dividend yield	4.2%	3.9%	3.1%	3.5%	2.4%	3.4%	3.1%	3.5%
Payout ratio	29.8%	27.3%	25.9%	29.9%	25.3%	47.7%	28.4%	24.5%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	11.7%	12.6%	13.4%	12.0%	12.0%	6.8%	10.3%	11.1%
Return on invested capital	-93.4%	9.9%	10.1%	9.5%	9.4%	5.3%	8.8%	9.9%
Return on assets	1.8%	1.9%	2.0%	2.0%	2.2%	1.1%	1.8%	1.9%
Free cash flow yield	14.4%	14.6%	15.0%	15.3%	8.2%	12.4%	8.3%	21.1%
Earnings yield	14.1%	14.2%	12.1%	11.7%	9.6%	7.2%	10.8%	14.2%
Enterprise value	$5.5B	$3.2B	$4.8B	$4.9B	$5.2B	$2.8B	$3.1B	$3.1B
Net debt / EBITDA	0.44×	-1.86×	-0.94×	0.05×	-1.04×	-3.07×	-1.3×	0.29×
Cash conversion cycle (days)	0	23	28	-379	-18,664	-205	-244	-264