Zions Bancorporation, National Association
Financial ratios & Valuation

Forward Multiples (2025 – 2026)

20252026
Price/Earnings ratio
11.449.97
Price/Sales ratio
2.612.48
Earnings per Share (EPS)
$4.64$5.32

Historical Multiples (2014 – 2023)

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 TTM Median
Valuation Ratios
Price/Earnings ratio
13.5317.9318.7017.239.5111.1913.198.948.139.5311.599.51
Price/Sales ratio
2.502.653.683.913.023.222.553.462.212.391.633.22
Price/Book Value ratio
0.740.731.141.321.111.240.901.351.501.131.261.11
Price/Cash Flow ratio
12.0610.3614.7110.997.1513.109.8916.055.017.3210.067.15
Price/Free Cash Flow ratio
19.6814.6821.9113.448.0315.7512.9723.875.768.3911.528.03
Price/Earnings Growth ratio
1.52-0.590.280.480.163.68-0.430.07-0.55-0.380.400.16
Dividend Yield
1.75%1.94%1.22%1.26%2.80%2.84%3.64%2.58%3.64%4.35%3.03%2.80%
Profitability Indicator Ratios
Gross Profit Margin
100%100%100%100%100%100%100%100%100%100%100%100%
Operating Profit Margin
36.29%27.24%33.23%40.74%50.10%37.15%24.09%49.67%40.06%39.00%39.70%37.15%
Pretax Profit Margin
28.39%21.59%29.58%35.87%41.08%37.15%24.09%49.67%34.52%32.75%18.06%37.15%
Net Profit Margin
18.50%14.79%19.68%22.69%31.77%28.79%19.32%38.78%27.18%25.13%14.05%28.79%
Effective Tax Rate
35.87%31.51%33.45%36.75%22.65%22.50%19.79%21.92%21.26%23.25%22.19%22.50%
Return on Assets
0.70%0.51%0.74%0.89%1.28%1.17%0.66%1.21%1.01%0.77%0.79%1.17%
Return On Equity
5.48%4.12%6.14%7.70%11.66%11.09%6.83%15.12%18.53%11.94%11.67%11.66%
Return on Capital Employed
1.38%0.95%1.26%1.69%2.16%1.54%0.84%1.56%1.51%1.44%3.31%2.16%
Liquidity Ratios
Current Ratio
0.110.170.270.280.261.16N/AN/AN/AN/A0.730.26
Quick Ratio
41.59K207.01K91.9113.2511.2517.6213.5460.934.880.290.7317.62
Cash ratio
6.68K29.38K4.290.360.271.440.8513.561.580.150.031.44
Days of Sales Outstanding
68.2077.0464.7950.9242.90N/AN/AN/A42.22N/A27.86N/A
Days of Inventory outstanding
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Operating Cycle
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A27.86N/A
Days of Payables Outstanding
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Cash Conversion Cycle
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A27.86N/A
Debt Ratios
Debt Ratio
0.000.010.000.000.010.020.010.010.080.020.030.01
Debt Equity Ratio
0.000.100.000.040.090.230.160.131.580.360.540.09
Long-term Debt to Capitalization
0.000.090.000.040.080.180.140.110.110.080.070.18
Total Debt to Capitalization
0.000.090.000.040.080.180.140.110.610.260.350.08
Interest Coverage Ratio
N/AN/AN/AN/AN/A2.56N/AN/AN/AN/A1.31N/A
Cash Flow to Debt Ratio
150.810.65847.892.421.620.400.530.620.180.420.230.40
Company Equity Multiplier
7.757.948.288.639.079.4010.3312.4818.3015.3213.639.07
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
0.200.250.250.350.420.240.250.210.440.320.160.24
Free Cash Flow / Operating Cash Flow Ratio
0.610.700.670.810.890.830.760.670.870.870.870.87
Cash Flow Coverage Ratio
150.810.65847.892.421.620.400.530.620.180.420.230.40
Short Term Coverage Ratio
378.42N/AN/AN/AN/AN/AN/AN/A0.200.580.27N/A
Dividend Payout Ratio
23.74%34.91%22.99%21.79%26.69%31.86%48.05%23.11%29.65%41.47%55.90%26.69%