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Pinnacle Financial Partners, Inc.

PNFP Financial Banks Regional

Pinnacle Financial Partners, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $3.3 billion, up 7.59% from fiscal 2024.

Revenue
+126.1%
EPS
+9.55%
Free cash flow
−3.18%
Total debt
+353.1%

Quarter to September 2026, against a year earlier

101.65 2.61 −2.50%
Market cap
$15.3B
P/E
13.5×
Fwd P/E
13.0×
Dividend yield
2.20%
F-score
6/9
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

Insider Decisions last twelve months

Bought, $m 2.39
Sold, $m 19.68
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — 1 — — — — 1 — 2 1 —
Sell — — — — — — — — 2 — — 1
Insider Ownership 1.28%

Capital & Financial Ratios $m

Size
Market Cap 15,340.00
Revenue ttm 6,425.22
Net income ttm 1,025.87
Free cash flow ttm 1,445.44
Net debt Q 2,764.00
Valuation
P/E 13.50
Forward P/E 13.00
Price / sales 2.39
Forward P/S Powerpack
Price / FCF 10.63
Price / book 1.11
Financial health
Current ratio Q 0.93
Debt / equity Q 0.68
Interest coverage Q —
Growth
Revenue growth Q +126.12% (above 0%: growing)
Operating income growth Q +145.62% (above 0%: growing)
EPS, this year +22.72% (at or above 15%: strong)
EPS, next year A +13.32%
Revenue, next year A +54.29% (at or above 10%: strong)
EPS, past 5 yrs +14.90%
EPS, next 5 yrs A +15.83% (at or above 15%: strong)

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 48.00%
10-year low 10-year high
P/S against its own 10 years 23.98%
10-year low 10-year high
P/B against its own 10 years 45.21%
10-year low 10-year high

Dividends raised 2 years running

Yield
2.20%
Annual rate
2.24
Payout ratio
29.9%
Growth, 2018–26
+16.7%/yr
  1. 0.58 ’18
  2. 0.64 ’19 +10
  3. 0.64 ’20 +0
  4. 0.72 ’21 +13
  5. 0.88 ’22 +22
  6. 0.88 ’23 +0
  7. 0.88 ’24 +0
  8. 0.96 ’25 +9
  9. 2.00 ’26 +108
paid change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 2,230 3,436 3,565 7,221
Receivables — — — —
Inventory — — — —
Other — — — —
34,884 38,917 42,595 96,729
2023 2024 2025 Q'26
Payables 38,540 42,843 47,397 103,036
ST’ Debt — — — —
Other — — — —
38,816 43,129 47,761 103,622

Compound Annual Growth %

10y 5y 3y
Sales 25.46% 19.79% 22.64%
Cash Flow 24.53% 12.21% 7.86%
Earnings 24.42% 9.35% 6.96%
Book Value 19.81% 7.51% 8.47%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 2.61 Actual 2.69

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 2.19 2.24 Beat by 0.05
Q1 FY26 2.30 2.39 Beat by 0.09
Q2 FY26 2.46 2.50 Beat by 0.04
Q3 FY26 2.61 2.69 Beat by 0.08
Q4 FY26 2.70 — Reports 20 January 2027

EPS $

Mar Jun Sep Dec Year
’26 0.89 2.07 2.40 — —
’25 1.77 2.00 2.19 2.13 8.07
’24 1.57 0.64 1.86 1.91 5.96
’23 1.76 2.54 1.69 1.19 7.14
’22 1.65 1.86 1.91 1.76 7.17
’21 1.61 1.69 1.75 1.71 6.75
’20 0.37 0.83 1.42 1.42 4.03
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 1,798 1,815 1,965 — —
’25 766 820 869 847 3,302
’24 761 703 810 796 3,069
’23 596 749 718 724 2,787
’22 362 418 477 533 1,790
’21 345 357 365 360 1,427
’20 333 325 340 340 1,339
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 926 90 376 — —
’25 (22) 261 404 116 759
’24 197 86 121 500 904
’23 360 (111) 122 107 478
’22 52 148 300 105 605
’21 120 167 152 219 657
’20 57 129 117 125 427
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 911 67 365 — —
’25 (42) 250 377 102 687
’24 180 59 101 475 816
’23 325 76 107 91 599
’22 42 135 276 89 542
’21 114 163 145 212 635
’20 50 116 105 117 388
Fiscal quarters ending in the months shown.

Valuation

The price implies the dividend a share growing 19.2% a year for ten years. It grew 7.1% a year over the last ten.

Implied
19.2%
10 years, reported
7.1%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

1.5
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 485 781 1,148 1,332 1,339 1,427 1,790 2,787 3,069 3,302 6,425 +23.8% 5,095 5,541 5,976 +21.9%
Gross margin, % 92.03 88.11 81.67 77.34 85.12 93.08 86.33 60.84 56.59 62.23 66.55 (29.8) pt
EBT 191 298 450 498 371 652 697 714 581 780 1,291 +16.9%
EBT margin, % 39.49 38.15 39.21 37.36 27.74 45.69 38.96 25.62 18.94 23.62 20.09 (15.9) pt
Net income 127 174 359 401 312 527 561 562 475 642 1,026 +19.7%
Per share, $
Per share, $ Revenue 11.26 12.25 14.88 17.44 17.76 18.91 23.64 36.66 40.14 42.96 42.52 +16.0%
Earnings 2.96 2.73 4.66 5.25 4.04 6.79 7.20 7.20 6.01 8.15 7.53 +11.9%
Cash flow 3.54 2.60 6.10 5.65 5.66 8.71 7.99 6.29 11.83 9.87 9.98 +12.1%
Capex (0.19) (0.84) (0.27) (0.55) (0.51) (0.30) (0.83) 1.59 (1.16) (0.93) (0.41) +19.4%
Free cash flow 3.35 1.76 5.84 5.10 5.15 8.41 7.16 7.88 10.67 8.94 9.57 +11.5%
Book value 34.78 58.15 51.43 57.04 65.07 70.37 72.88 79.40 84.12 91.64 96.68 +11.4%
Shares, m 43 64 77 76 75 75 76 76 76 77 133 +6.7%
Valuation, ×
Valuation, × P/E 23.47 23.55 9.87 12.21 15.94 14.06 9.89 12.16 18.97 11.71 13.50 15.2
P/S 6.15 5.44 3.10 3.67 3.63 5.05 3.02 2.39 2.85 2.22 2.39 3.8
P/B 1.99 1.15 0.90 1.12 1.04 1.42 1.02 1.14 1.41 1.07 1.11 1.2
EV/Sales 7.33 6.73 4.15 5.39 1.98 3.10 2.86 2.51 2.48 1.81 — 3.8
EV/FCF 25.86 46.76 10.58 18.42 6.83 6.96 9.43 11.67 9.33 8.69 — 15.5
Cash, $m
Cash, $m Operating cash flow 152 166 471 431 427 657 605 478 904 759 1,508 +19.5%
Capex (8) (53) (21) (42) (39) (23) (63) 121 (89) (72) (63) +27.4%
Free cash flow 144 112 450 389 388 635 542 599 816 687 1,445 +19.0%
Balance, $m
Balance, $m Working capital (177) (65) (502) 54 (1,535) (4,055) (5,033) (3,932) (4,212) (5,167) (6,893) +45.4%
Net debt 573 1,006 1,207 2,285 (2,203) (2,790) (289) 333 (1,136) (1,360) 2,764 n/m
Shareholders’ equity 1,497 3,708 3,966 4,356 4,905 5,311 5,519 6,036 6,432 7,044 14,610 +18.8%
Returns, %
Returns, % ROA 1.28 1.04 1.52 1.52 0.97 1.40 1.36 0.00 0.91 1.14 1.05 (0.1) pt
ROIC 6.13 4.37 5.54 4.68 8.59 16.16 8.33 7.01 6.86 8.81 5.96 +2.7 pt
ROE 9.59 6.69 9.37 9.63 6.74 10.47 10.50 0.00 7.64 9.61 9.56 0.0 pt
People
People Employees 1,180 2,132 2,297 2,487 2,634 2,841 3,242 3,357 3,565 8,389 — +24.4%
Revenue/emp, $m 0.41 0.37 0.50 0.54 0.51 0.50 0.55 0.83 0.86 0.39 — (0.5%)
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Business profile

Updated

Pinnacle Financial Partners is a financial holding company that serves businesses, their owners and individuals through Pinnacle Bank. Founded in 2000, the company is headquartered in Atlanta, Georgia. Kevin Blair is its chief executive officer. Pinnacle Bank remains headquartered in Nashville, Tennessee.

The bank takes deposits and makes commercial, real estate and consumer loans. A business might use Pinnacle for a checking account, a loan to fund equipment or working capital, and services to process payments and manage cash. Individuals can obtain mortgages, credit cards and other loans, as well as deposit and investment services.

Pinnacle Financial Partners, 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
KEY KeyCorp $22.1B 11.5× 11.2× +1.55% (above 0%: growing) +24.39% (above 0%: growing) +85.68% (above 0%: growing) 71.05% 0.00% Compare
BCH Banco De Chile $19.6B 14.0× 14.3× +11.52% (above 0%: growing) +4.13% (above 0%: growing) +134.20% (above 0%: growing) 75.90% 0.00% Compare
BSBR Banco Santander Brasil SA $17.7B 6.2× — +14.98% (above 0%: growing) −5.56% (below 0%: shrinking) +274.78% (above 0%: growing) 40.57% 0.00% Compare
EWBC East West Bancorp, Inc. $17.7B 12.2× 12.2× −0.14% (below 0%: shrinking) +4.91% (above 0%: growing) +112.58% (above 0%: growing) 66.97% 0.00% Compare
WF Woori Bank $16.8B 7.7× — +37.39% (above 0%: growing) +12.90% (above 0%: growing) −106.07% (below 0%: shrinking) 57.49% 0.00% Compare
PNFP Pinnacle Financial Partners, Inc. $15.3B 13.5× 13.0× +126.12% (above 0%: growing) +9.55% (above 0%: growing) −3.18% (below 0%: shrinking) 66.77% 0.00%
BSAC Banco Santander Chile $15.2B 12.4× — +6.76% (above 0%: growing) +50.00% (above 0%: growing) +440.00% (above 0%: growing) 67.88% 0.00% Compare
BBD Banco Bradesco SA $14.0B 5.5× 5.2× +16.65% (above 0%: growing) +44.44% (above 0%: growing) +1,455.10% (above 0%: growing) 34.57% 0.00% Compare
FHN First Horizon Corporation $11.0B 16.4× 16.5× −39.55% (below 0%: shrinking) n/m +664.86% (above 0%: growing) 52.50% 0.00% Compare
Median of peers $17.2B 11.8× 12.2× +9.14% +12.90% +204.49% 62.23% 0.00%

All 327 Banks Regional stocks →

From the latest earnings call

Updated

  • On Pinnacle’s first-quarter call, CEO Kevin Blair said hiring and demand across geographies and specialty businesses supported the company’s loan and deposit growth outlook.
  • Blair said Synovus integration was ahead of plan, with operational and brand conversion on track for March 2027, though the companies still operated on separate systems.

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 88.02%
Held by the ten largest 54.82%
Holder Shares Stake Change
BlackRock 16.90m 11.19% +454.80k
Vanguard 14.66m 9.71% −287.10k
Wellington Management 11.14m 7.38% +2.02m
Fidelity (FMR) 10.49m 6.95% +3.29m
State Street 6.18m 4.10% +291.78k
T. Rowe Price 5.84m 3.87% +555.09k
Invesco 5.61m 3.71% +2.03m
Dimensional Fund Advisors 5.10m 3.38% +66.26k
Norges Bank 3.43m 2.27% +3.43m
Pinnacle Financial Partners, Inc. 3.42m 2.26% −80.20k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 9 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 6.60m 16.69m 156.09
2024 6.19m 15.46m 185.33
2023 5.68m 10.19m 139.91
2022 10.89m 1.87m 116.14
2021 6.83m 16.11m 149.52

Ownership

Directors and executive officers, together 1.30%
The Vanguard Group, Inc.100 Vanguard Blvd. Malvern, PA 10.00%
BlackRock, Inc.49 East 9.30%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. 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

Pinnacle Financial Partners, Inc. (PNFP) Latest News

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PNFP metrics, ten years each

stockrow.com/PNFP · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com