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Friday 6 November 2026 Export HBAN’s income statement to Excel — free account

Huntington Bancshares Incorporated

HBAN Financial Banks Regional

Huntington Bancshares Incorporated’s revenue for fiscal 2025 (year ended December 2025) was $12.5 billion, up 4.38% from fiscal 2024.

Revenue
+27.4%
EPS
−17.1%
Free cash flow
+53.1%
Total debt
+0.15%

Quarter to September 2026, against a year earlier

15.57 0.04 −0.26%
Market cap
$31.5B
P/E
12.5×
Fwd P/E
12.1×
Dividend yield
3.96%
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
Segments Valuation Filings

Huntington Bancshares Incorporated (HBAN) valuation and DCF model

What the price implies · reverse DCF

At $15.57 the price implies 9.3% a year of dividend growth, at a 9.0% cost of equity.

The dividend a share grew 9.8% a year over the last ten years, 0.3% over the last five. The price asks for close to its ten-year rate. Return on equity averaged 10.7% over ten years; the price implies 8.8% for good.

In December 2017 the price assumed 16.6% a year; Huntington Bancshares Incorporated went on to grow the dividend a share 2.9% a year to FY2025.

Price implies
9.3%
Last 5 years, reported
0.3%
Last 10 years, reported
9.8%

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
9.3% a year for ten years
$15.57
today’s price
Its base case
9.8% a year for five years, then 5.9%
$14.18
8.9% 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 Huntington Bancshares Incorporated’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 9.3% 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 Huntington Bancshares Incorporated’s own cost of capital: risk-free 4.3% + beta 0.98 × equity premium 4.5% = 8.7% cost of equity; weighted, 8.7%.

Use 8.7%
Base case value per share $14.18 ten years discounted, and what follows
Current price $15.57 market price per share
Below today’s price 8.9% downside at the base case’s assumptions

How we got there$5.82 10 years of dividends+$8.36 terminal value=$14.18 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 12.53× 11.57× 12.26× 2% above 12.02× 4% above
P/FCF 10.83× 9.82× 9.81× 10% above 10.60× 2% above
P/B 1.08× 1.20× 1.27× 15% below 1.23× 13% below
EV/Sales — 2.54× 3.32× — 3.90× —
P/E P/FCF P/B EV/Sales
6.12×8.56×10.99×13.43×10Y avg 9.81×2017201820192020202120222023202420252026

HBAN trades at 10.83× P/FCF, against a 10-year average of 9.81× (range 5.33×–13.95×). That is dearer than 78% of the last 9 year-end readings; re-rating to the average implies $14.11 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.