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UMB Financial Corporation

UMBF Financial Banks Regional

UMB Financial Corporation’s revenue for fiscal 2025 (year ended December 2025) was $4.1 billion, up 48.1% from fiscal 2024.

Revenue
+4.21%
EPS
+53.8%
Free cash flow
+39.2%
Total debt
−29.3%

Quarter to September 2026, against a year earlier

134.90 3.61 −2.61%
Market cap
$10.2B
P/E
10.1×
Fwd P/E
9.8×
Dividend yield
1.01%
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

UMB Financial Corporation (UMBF) valuation and DCF model

What the price implies · reverse DCF

At $134.90 the price implies 20.9% a year of dividend growth, at a 9.0% cost of equity.

The dividend a share grew 6.7% a year over the last ten years, 8.1% over the last five. The price asks for about three times its ten-year rate. Return on equity averaged 11.4% over ten years; the price implies 11.0% for good.

In December 2017 the price assumed 22.4% a year; UMB Financial Corporation went on to grow the dividend a share 16.4% a year to FY2025.

Price implies
20.9%
Last 5 years, reported
8.1%
Last 10 years, reported
6.7%

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
20.9% a year for ten years
$134.90
today’s price
Its base case
6.7% a year for five years, then 4.0%
$42.43
68.5% 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 UMB Financial 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 20.9% 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 UMB Financial Corporation’s own cost of capital: risk-free 4.3% + beta 0.85 × equity premium 4.5% = 8.1% cost of equity; weighted, 8.1%.

Use 8.1%
Base case value per share $42.43 ten years discounted, and what follows
Current price $134.90 market price per share
Below today’s price 68.5% downside at the base case’s assumptions

How we got there$18.43 10 years of dividends+$24.00 terminal value=$42.43 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 10.10× 11.18× 12.55× 20% below 12.02× 16% below
P/FCF 8.97× 11.79× 11.62× 23% below 10.60× 15% below
P/B 1.36× 1.38× 1.39× 2% below 1.23× 10% above
EV/Sales — 1.16× 1.16× — 3.90× —
P/E P/FCF P/B EV/Sales
9.46×11.38×13.29×15.21×10Y avg 12.55×2017201820192020202120222023202420252026

UMBF trades at 10.10× P/E, against a 10-year average of 12.55× (range 9.25×–15.40×). That is cheaper than 89% of the last 9 year-end readings; re-rating to the average implies $167.63 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.