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NBT Bancorp Inc.

NBTB Financial Banks Regional

NBT Bancorp Inc.’s revenue for fiscal 2025 (year ended December 2025) was $906.5 million, up 15.0% from fiscal 2024.

Revenue
+1.43%
EPS
+7.69%
Free cash flow
+37.1%
Total debt
−14.3%

Quarter to September 2026, against a year earlier

52.91 1.09 −2.02%
Market cap
$2.8B
P/E
12.7×
Fwd P/E
12.4×
Dividend yield
2.85%
F-score
8/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 0.98
Sold, $m 2.42
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — 1 — — — — — — — — — —
Sell — — 1 1 — — 4 2 — — — —
Insider Ownership 1.16%

Capital & Financial Ratios $m

Size
Market Cap 2,750.00
Revenue ttm 951.86
Net income ttm 214.15
Free cash flow ttm 245.61
Net debt Q (167.49)
Valuation
P/E 12.66
Forward P/E 12.40
Price / sales 2.88
Forward P/S Powerpack
Price / FCF 11.16
Price / book 1.41
Financial health
Current ratio Q 0.87
Debt / equity Q 0.08
Interest coverage Q —
Growth
Revenue growth Q +1.43% (above 0%: growing)
Operating income growth Q +4.28% (above 0%: growing)
EPS, this year +9.64%
EPS, next year A +8.20%
Revenue, next year A −16.10% (below 0%: weak)
EPS, past 5 yrs +7.04%
EPS, next 5 yrs A +8.44%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

P/E against its own 10 years 28.27%
10-year low 10-year high
P/S against its own 10 years 38.39%
10-year low 10-year high
P/B against its own 10 years 52.92%
10-year low 10-year high

Dividends raised every year since 2017

Yield
2.85%
Annual rate
1.51
Payout ratio
36.2%
Growth, 2017–25
+5.58%/yr
  1. 0.92 ’17
  2. 0.99 ’18 +8
  3. 1.05 ’19 +6
  4. 1.08 ’20 +3
  5. 1.10 ’21 +2
  6. 1.16 ’22 +5
  7. 1.24 ’23 +7
  8. 1.32 ’24 +6
  9. 1.42 ’25 +8
  10. 1.54 ’26e +8
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 205 284 487 322
Receivables — — — —
Inventory — — — —
Other — — — —
9,745 10,148 11,948 12,132
2023 2024 2025 Q'26
Payables 10,969 11,547 13,499 13,586
ST’ Debt — — — —
Other — — — —
11,356 11,710 13,647 14,001

Compound Annual Growth %

10y 5y 3y
Sales 8.75% 12.88% 18.87%
Cash Flow 6.57% 10.12% 8.68%
Earnings 8.27% 10.15% 3.65%
Book Value 7.95% 9.81% 17.34%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 1.09 Actual 1.11

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.99 1.05 Beat by 0.06
Q1 FY26 0.98 0.97 Miss by 0.01
Q2 FY26 1.02 1.01 Miss by 0.01
Q3 FY26 1.09 1.11 Beat by 0.02
Q4 FY26 1.10 — Reports 25 January 2027

EPS $

Mar Jun Sep Dec Year
’26 0.98 1.02 1.11 — —
’25 0.77 0.44 1.03 1.06 3.33
’24 0.71 0.69 0.80 0.76 2.97
’23 0.78 0.70 0.54 0.64 2.65
’22 0.90 0.88 0.90 0.84 3.52
’21 0.91 0.92 0.86 0.86 3.54
’20 0.23 0.56 0.80 0.78 2.37
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 233 235 245 — —
’25 202 225 242 238 906
’24 192 194 202 200 788
’23 146 153 177 189 665
’22 127 133 136 143 540
’21 121 123 123 130 498
’20 125 122 123 125 495
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 53 62 — — —
’25 42 46 81 66 235
’24 37 51 52 49 189
’23 22 45 55 36 157
’22 35 69 49 30 183
’21 42 53 41 22 159
’20 41 36 30 38 145
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 49 61 — — —
’25 38 44 74 62 219
’24 34 49 48 46 177
’23 20 44 51 33 148
’22 34 68 47 27 176
’21 41 51 39 20 151
’20 38 36 29 34 137
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.4
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 403 431 469 512 495 498 540 665 788 906 952 +9.4% 761 804 850 (2.1%)
Gross margin, % 94.41 93.98 91.76 89.06 93.41 96.22 95.95 78.26 73.17 76.89 78.94 (17.5) pt
EBT 119 128 137 155 133 200 196 153 179 219 282 +7.1%
EBT margin, % 29.50 29.76 29.21 30.38 26.91 40.16 36.35 23.08 22.76 24.21 29.58 (5.3) pt
Net income 78 82 113 121 104 155 152 119 141 169 214 +8.9%
Per share, $
Per share, $ Revenue 9.31 9.88 10.73 11.68 11.32 11.46 12.57 14.93 16.72 17.90 18.37 +7.5%
Earnings 1.81 1.89 2.58 2.76 2.39 3.57 3.54 2.67 2.98 3.34 4.18 +7.0%
Cash flow 2.56 3.14 3.38 3.50 3.32 3.67 4.27 3.54 4.00 4.64 0.00 +6.9%
Capex (0.08) (0.15) (0.17) (0.15) (0.19) (0.18) (0.16) (0.21) (0.25) (0.32) 0.00 +17.3%
Free cash flow 2.48 2.99 3.21 3.35 3.14 3.49 4.11 3.33 3.75 4.32 0.00 +6.4%
Book value 21.12 21.99 23.29 25.57 27.18 28.80 27.34 32.02 32.36 37.44 37.49 +6.6%
Shares, m 43 44 44 44 44 43 43 45 47 51 52 +1.8%
Valuation, ×
Valuation, × P/E 23.19 19.54 13.41 14.64 13.43 10.82 12.10 15.81 16.03 12.47 12.66 15.1
P/S 4.51 3.72 3.22 3.47 2.84 3.36 3.41 2.83 2.86 2.32 2.88 3.3
P/B 1.99 1.67 1.49 1.59 1.18 1.34 1.57 1.32 1.48 1.11 1.41 1.5
EV/Sales 4.62 3.76 3.21 3.37 1.96 1.24 3.42 2.89 2.82 1.98 — 2.9
EV/FCF 17.36 12.44 10.73 11.75 7.06 4.08 10.47 12.99 12.56 8.20 — 10.8
Cash, $m
Cash, $m Operating cash flow 111 137 148 153 145 159 183 157 189 235 262 +8.7%
Capex (3) (7) (7) (7) (8) (8) (7) (9) (12) (16) (16) +19.4%
Free cash flow 107 130 140 147 137 151 176 148 177 219 246 +8.3%
Balance, $m
Balance, $m Working capital (1,364) (1,203) (1,237) (951) (1,187) (1,656) (1,834) (1,611) (1,562) (1,699) (1,869) +2.5%
Net debt 47 19 (6) (51) (434) (1,055) 6 46 (32) (308) (167) n/m
Shareholders’ equity 913 958 1,018 1,120 1,188 1,250 1,174 1,426 1,526 1,896 1,942 +8.5%
Returns, %
Returns, % ROA 0.92 0.91 1.20 1.26 1.01 1.35 1.28 0.95 1.04 1.14 1.34 +0.2 pt
ROIC 7.73 8.20 8.46 9.09 11.04 64.04 10.45 6.94 7.57 9.40 9.91 +1.7 pt
ROE 8.73 8.78 11.39 11.32 9.05 12.71 12.54 9.14 9.53 9.89 0.00 +1.2 pt
People
People Employees 1,704 1,733 1,791 1,788 1,812 1,801 1,861 2,034 2,083 2,303 — +3.4%
Revenue/emp, $m 0.24 0.25 0.26 0.29 0.27 0.28 0.29 0.33 0.38 0.39 — +5.8%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026

NBT Bancorp Inc. vs peers in Banks Regional (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
BANC Banc of California, Inc. $2.9B — (loss-making) — (loss-making) +1.56% (above 0%: growing) +37.95% (above 0%: growing) +158.46% (above 0%: growing) 64.08% 0.00% Compare
CUBI Customers Bancorp, Inc $2.8B 9.9× 9.9× +2.67% (above 0%: growing) +2.19% (above 0%: growing) −34.56% (below 0%: shrinking) 59.54% 0.00% Compare
NBTB NBT Bancorp Inc. $2.8B 12.7× 12.4× +1.43% (above 0%: growing) +7.69% (above 0%: growing) +37.10% (above 0%: growing) 79.49% 0.00%
BOH Bank of Hawaii Corporation $2.7B 12.0× 11.9× −0.66% (below 0%: shrinking) +35.07% (above 0%: growing) +211.82% (above 0%: growing) 73.11% 0.00% Compare
FBNC First Bancorp $2.7B 16.3× 13.5× +28.80% (above 0%: growing) +154.02% (above 0%: growing) +103.23% (above 0%: growing) 76.83% 0.00% Compare
FBK FB Financial Corporation $2.7B 12.0× 11.6× −1.10% (below 0%: shrinking) +179.07% (above 0%: growing) −58.85% (below 0%: shrinking) 66.94% 0.00% Compare
TRMK Trustmark Corporation $2.6B 11.1× 11.0× +0.24% (above 0%: growing) +6.55% (above 0%: growing) +48.33% (above 0%: growing) 74.14% 0.00% Compare
BBT Beacon Financial Corporation $2.6B 11.4× 10.9× +42.19% (above 0%: growing) n/m +88.09% (above 0%: growing) 68.68% 0.00% Compare
BANR Banner Corporation $2.6B 11.8× 11.7× +1.50% (above 0%: growing) −11.61% (below 0%: shrinking) −40.58% (below 0%: shrinking) 77.09% 0.00% Compare
Median of peers $2.7B 11.8× 11.6× +1.53% +35.07% +68.21% 70.90% 0.00%

All 327 Banks Regional stocks →

Pay and ownership Proxy statement filed 6 April 2026

Ownership

Directors and executive officers, together 2.99%
BlackRock, Inc. 12.93%
The Vanguard Group, Inc. 10.85%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

NBT Bancorp Inc. (NBTB) Latest News

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29 Apr

Impact 4 · · Simply Wall St.

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NBTB metrics, ten years each

stockrow.com/NBTB · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com