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F.N.B. Corporation

FNB Financial Banks Regional

F.N.B. Corporation’s revenue for fiscal 2025 (year ended December 2025) was $2.7 billion, up 4.95% from fiscal 2024.

Revenue
−0.72%
EPS
+4.88%
Free cash flow
+67.8%
Total debt
−14.1%

Quarter to September 2026, against a year earlier

17.88 0.02 +0.11%
Market cap
$6.3B
P/E
10.5×
Fwd P/E
10.7×
Dividend yield
2.79%
F-score
7/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Valuation Filings

F.N.B. Corporation (FNB) valuation and DCF model

What the price implies · reverse DCF

At $17.88 the price implies 13.4% a year of dividend growth, at a 9.0% cost of equity.

The dividend a share grew 0.0% a year over the last ten years, −0.1% over the last five. The price asks for more than four times its ten-year rate. Return on equity averaged 7.6% over ten years; the price implies 8.5% for good.

In December 2017 the price assumed 17.7% a year; F.N.B. Corporation went on to grow the dividend a share 6.8% a year to FY2025.

Price implies
13.4%
Last 5 years, reported
−0.1%
Last 10 years, reported
0.0%

The headline discounts the last twelve months’ the dividend a share at 9.0% for ten years and grows it 2.5% a year after that, the same for every company, so the figure compares across the market (how a reverse DCF works).

The other way round · DCF
The price needs
13.4% a year for ten years
$17.88
today’s price
Its base case
0.0% a year for five years, then 0.0%
$6.54
63.4% below today’s price

Both are growth in the dividend a share, discounted at 9.0%, with 2.5% a year after year ten.

Base case on its own ten-year record F.N.B. Corporation’s own growth, carried forward

Its assumptions

Powerpack lets you start from a scenario and type over any of them.

The base case’s inputs, which Powerpack lets you change
1 · Dividends
the four quarters to September 2026, from the 10-Q and 10-K filings

Yearly growth in the dividend. It usually slows as the company matures.

Today’s price implies the dividend a share growing 13.4% a year for ten years.

2 · Rates

Cost of equity is the yearly return shareholders require, typically 8–11%. Terminal growth is growth forever after year 10, usually near long-run inflation, 2–3%.

3 · Per share

The model is a share’s own: no debt to take off and no shares to divide among.

Advanced inputs

Against F.N.B. Corporation’s own cost of capital: risk-free 4.3% + beta 0.91 × equity premium 4.5% = 8.4% cost of equity; weighted, 8.4%.

Use 8.4%
Base case value per share $6.54 ten years discounted, and what follows
Current price $17.88 market price per share
Below today’s price 63.4% downside at the base case’s assumptions

How we got there$3.21 10 years of dividends+$3.33 terminal value=$6.54 per share

Valuation against its own history

Today’s multiple against its 5- and 10-year averages and the industry median (Banks Regional).

Multiple Current 5Y avg 10Y avg vs 10Y avg Industry median vs industry 10Y range
P/E 10.54× 10.87× 11.75× 10% below 12.02× 12% below
P/FCF 8.77× 10.97× 14.94× 41% below 10.60× 17% below
P/B 0.93× 0.87× 0.83× 12% above 1.23× 25% below
EV/Sales — 2.02× 2.50× — 3.90× —
P/E P/FCF P/B EV/Sales
8.87×19.13×29.40×39.67×10Y avg 14.94×2017201820192020202120222023202420252026

FNB trades at 8.77× P/FCF, against a 10-year average of 14.94× (range 4.06×–42.67×). That is cheaper than 67% of the last 9 year-end readings; re-rating to the average implies $30.45 per share.

Every growth rate on this page is the business’s — its cash flow, FFO or dividend — never its share price’s. A discounted-cash-flow model is only as good as its assumptions. Figures from the 10-K and 10-Q filings. Not investment advice.