Glacier Bancorp, Inc. Financial Ratios — GBCI Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Return on Common Equity (%)	9.5	39.22	40.36	39.94	36.28	33.96	29.91	41.47	41.45	44	38.47	34.08	22.16	17.86	21.29
Return on Assets (%)	0.25	1.01	1.22	1.39	1.34	1.31	1.21	1.67	1.63	1.66	1.28	1.15	0.82	0.68	0.8
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100
EBITDA Margin (%)	4.12	4.24	4.05	4.22	4.57	4.47	3.87	4.1	4.43	4.04	4.03	4.09	4.7	5.14	4.87
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	5.48	31.48	39.49	42.03	39.6	39.32	40.64	40.87	42.45	43.01	44	41.51	33.9	27.94	28.9
Profit Margin (%)	5.57	25.13	30.06	31.88	30.63	29.62	26.13	33.45	34.48	34.93	35.86	33.99	28.24	23.47	23.8
Net Income to Common Margin (%)	5.57	25.13	30.06	31.88	30.63	29.62	26.13	33.45	34.48	34.93	35.86	33.99	28.24	23.47	23.8
Effective Tax Rate (%)	- -	20.17	23.89	24.15	22.65	24.67	35.7	18.15	18.77	18.79	18.51	18.12	16.7	15.98	17.65
Dvd Payout Ratio (%)	214.04	62.86	46.25	45.18	68.42	69.38	96	47.01	59.12	49.27	51.12	51.96	65.8	78.91	68.08
Sustainable Growth Rate (%)	-10.84	14.56	21.7	21.89	11.46	10.4	1.2	21.98	16.94	22.32	18.81	16.37	7.58	3.77	6.8

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Debt	1,214	1,132	974	430	527	382	488	589	207	173	177	2,010	2,955	2,056	761
ST Debt	10	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	11
LT Debt	1,204	1,132	974	430	527	382	488	589	207	173	177	2,010	2,955	2,056	750
Total Debt/EBITDA	94.02	89	75.6	28.82	30.39	20.93	28.31	26.42	7.66	5.62	5.52	55.09	79.55	49.36	15.55
Net Debt/EBITDA	84.1	74.3	64.33	-0.77	19.59	12.57	16.71	17.28	-4.57	-14.94	-8.15	44.07	43.08	27.52	-11.37
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	2.42	2.73	3.33	3.64	3.72	3.97	4.15	3.91	3.96	3.61	3.13	3.63	3.76	3.89	3.63
Long-Term Debt/Equity (%)	141.65	125.7	101.13	41.82	48.91	34.22	40.73	38.85	10.57	7.5	5.56	70.7	97.83	63.79	17.8
Long-Term Debt/Capital (%)	86.76	84.28	78.76	58.75	60.89	50.46	54.79	55.4	27.67	20.55	17.88	67.49	73.89	65.47	39.04
Long-Term Debt/Total Assets (%)	16.75	14.62	12.36	5.18	5.79	4.04	5.03	4.86	1.52	0.94	0.68	7.55	10.65	7.37	2.35
Total Debt/Equity (%)	142.82	125.7	101.13	41.82	48.91	34.22	40.73	38.85	10.57	7.5	5.56	70.7	97.83	63.79	18.05
Total Debt/Capital (%)	87.48	84.28	78.76	58.75	60.89	50.46	54.79	55.4	27.67	20.55	17.88	67.49	73.89	65.47	39.59
Total Debt/Total Assets (%)	16.89	14.62	12.36	5.18	5.79	4.04	5.03	4.86	1.52	0.94	0.68	7.55	10.65	7.37	2.38
Net Debt to Equity	127.76	104.94	86.06	-1.11	31.52	20.56	24.05	25.41	-6.3	-19.94	-8.21	56.56	52.99	35.57	-13.2
Net Debt/Capital (%)	86.2	81.74	75.94	-3.93	50.08	37.97	41.71	44.83	-29.55	-220.38	-47.41	62.42	60.51	50.03	-81.06
EBITDA	13	13	13	15	17	18	17	22	27	31	32	36	37	42	49
EBITDA-CapEx	-5	13	13	15	17	18	7	4	11	19	23	3	-12	-7	22
Operating Income (Loss)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Cash Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Current Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Quick Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
CFO/Avg Current Liab	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	2.42	2.73	3.33	3.64	3.72	3.97	4.15	3.91	3.96	3.61	3.13	3.63	3.76	3.89	3.63
Long-Term Debt/Equity (%)	141.65	125.7	101.13	41.82	48.91	34.22	40.73	38.85	10.57	7.5	5.56	70.7	97.83	63.79	17.8
Long-Term Debt/Capital (%)	86.76	84.28	78.76	58.75	60.89	50.46	54.79	55.4	27.67	20.55	17.88	67.49	73.89	65.47	39.04
Long-Term Debt/Total Assets (%)	16.75	14.62	12.36	5.18	5.79	4.04	5.03	4.86	1.52	0.94	0.68	7.55	10.65	7.37	2.35
Total Debt/Equity (%)	142.82	125.7	101.13	41.82	48.91	34.22	40.73	38.85	10.57	7.5	5.56	70.7	97.83	63.79	18.05
Total Debt/Capital (%)	87.48	84.28	78.76	58.75	60.89	50.46	54.79	55.4	27.67	20.55	17.88	67.49	73.89	65.47	39.59
Total Debt/Total Assets (%)	16.89	14.62	12.36	5.18	5.79	4.04	5.03	4.86	1.52	0.94	0.68	7.55	10.65	7.37	2.38
CFO/Total Liabilities	2.95	2.68	4.83	2.51	2.21	2.32	2.99	2.65	1.93	1.17	2.51	1.98	2.03	1.05	1.35
CFO/CapEx	10.68	- -	- -	- -	- -	- -	25.15	15.06	13.82	16.18	60.62	13.94	10.11	5.34	13.95
Altman's Z-Score	0.16	0.17	0.28	0.27	0.25	0.3	0.32	0.29	0.31	0.26	0.23	0.23	0.2	0.22	0.2

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Accounts Receivable Turnover	9.63	8.26	7.99	8.58	8.91	9.05	9.87	11	11.06	11.6	10.44	11.14	8.87	8.36	9.16
Days Sales Outstanding	37.92	44.18	45.69	42.56	40.97	40.33	37	33.19	33.02	31.47	34.97	32.77	41.16	43.66	39.85
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Market Capitalization	865	1,058	2,180	2,073	2,004	2,764	3,054	3,312	4,059	4,363	5,631	5,474	4,581	5,683	5,275
- Cash & Cash Equivalents	128	187	145	441	187	153	200	204	331	633	438	402	1,354	848	1,235
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	1,214	1,132	974	430	527	382	488	589	207	173	177	2,010	2,955	2,056	761
Enterprise Value	-1,175	-1,680	-213	-326	-267	568	1,564	1,126	1,360	-1,435	-3,801	1,774	1,395	2,646	799
Total Capital	1,388	1,344	1,237	732	865	757	891	1,063	749	842	988	2,978	3,999	3,141	1,922
Total Debt/Capital (%)	87.48	84.28	78.76	58.75	60.89	50.46	54.79	55.4	27.67	20.55	17.88	67.49	73.89	65.47	39.59
Total Debt / EV	-1.03	-0.67	-4.56	-1.32	-1.97	0.67	0.31	0.52	0.15	-0.12	-0.05	1.13	2.12	0.78	0.95
EV/Sales	- -	- -	- -	- -	- -	1.39	3.51	2.07	2.23	- -	- -	1.99	1.77	3.27	0.8
EV/EBITDA	- -	- -	- -	- -	- -	31.08	90.67	50.51	50.23	- -	- -	48.63	37.57	63.51	16.34
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	- -	- -	- -	- -	2.94	6.14	4.01	6	- -	- -	3.77	2.79	10.25	2.13
EV/Free Cash Flow to Firm	- -	- -	- -	- -	- -	2.94	5.91	3.76	5.6	- -	- -	3.52	2.54	8.64	1.99
Diluted Market Cap	865	1,058	2,182	2,074	2,006	2,766	3,057	3,315	4,065	4,368	5,636	5,477	4,582	5,687	5,283
Diluted Enterprise Value	1,951	2,003	3,011	2,063	2,345	2,996	3,345	3,700	3,941	3,908	5,375	7,085	6,182	6,895	4,809
EV per Share	- -	- -	- -	- -	- -	7.44	20.17	13.47	15.41	- -	- -	16.02	12.59	23.38	6.67
TTM Sales	314	300	318	354	379	409	445	544	611	763	794	892	789	810	1,004
TTM EBITDA	13	13	13	15	17	18	17	22	27	31	32	36	37	42	49
TTM Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	187	184	334	183	177	193	255	281	227	190	572	471	501	258	374
TTM Free Cash Flow to Firm	204	184	334	183	177	193	265	299	243	201	581	504	550	306	401

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Price/Free Cash Flow	4.23	5.76	6.53	11.35	11.35	14.32	11.54	11.08	16.72	21.7	9.69	10.86	8.33	18.57	13.17
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	-1,175	-1,680	-213	-326	-267	568	1,564	1,126	1,360	-1,435	-3,801	1,774	1,395	2,646	799
Low Price	8.95	12.12	14.76	24.27	22.16	21.9	31.38	35.77	37.58	26.66	44.55	44.43	26.77	34.35	36.76
EV/Sales	- -	- -	- -	- -	- -	1.39	3.51	2.07	2.23	- -	- -	1.99	1.77	3.27	0.8
EV/EBITDA	- -	- -	- -	- -	- -	31.08	90.67	50.51	50.23	- -	- -	48.63	37.57	63.51	16.34
Price/Earnings	49.52	14.01	22.8	18.38	17.26	22.81	26.24	18.21	19.28	16.38	19.77	18.05	20.55	29.89	22.07
Price/Earnings Average	53.78	13.99	16.88	18.09	17.48	17.43	23.67	18.95	17.41	13.51	19.34	18.78	17.86	25.54	22.58
Price/Earnings High	65.86	15.55	23.63	20.38	19.7	23.85	27.47	21.91	19.5	16.75	23.49	22.17	24.88	36.11	26.46
Price/Earnings Low	36.84	11.54	11.3	16.07	14.42	13.79	20.91	16.44	15.75	9.49	15.54	16.23	13.31	20.44	18.42
Price/Book Value	4.98	5.01	8.3	6.86	5.92	7.37	7.58	6.99	7.49	6.52	6.94	5.65	4.39	5.24	4.54
Price/Book Value Average	5.4	5	6.15	6.75	6	5.63	6.84	7.27	6.76	5.38	6.79	5.88	3.81	4.48	4.65
Price/Book Value High	6.62	5.56	8.6	7.61	6.76	7.7	7.93	8.41	7.57	6.67	8.24	6.94	5.31	6.33	5.45
Price/Book Value Low	3.7	4.13	4.11	6	4.95	4.45	6.04	6.31	6.12	3.78	5.45	5.08	2.84	3.58	3.79
Price/Tangible Book Value	1.18	1.34	2.65	2.34	2.17	2.89	3.03	2.81	2.82	2.51	2.63	3.01	2.29	2.68	1.93
Price/Tangible Book Value Average	1.28	1.34	1.96	2.3	2.2	2.21	2.74	2.93	2.54	2.07	2.57	3.13	1.99	2.29	1.98
Price/Tangible Book Value High	1.56	1.49	2.74	2.59	2.48	3.02	3.17	3.39	2.85	2.57	3.13	3.7	2.77	3.24	2.32
Price/Tangible Book Value Low	0.87	1.11	1.31	2.04	1.82	1.74	2.42	2.54	2.3	1.46	2.07	2.71	1.48	1.83	1.61
Price/Sales	2.76	3.52	6.85	5.86	5.29	6.76	6.86	6.09	6.65	5.72	7.09	6.14	5.8	7.02	5.25
Price/Sales Average	2.99	3.52	5.07	5.77	5.35	5.16	6.19	6.34	6	4.72	6.93	6.38	5.04	6	5.37
Price/Sales High	3.67	3.91	7.1	6.5	6.04	7.06	7.18	7.33	6.72	5.85	8.42	7.53	7.03	8.48	6.3
Price/Sales Low	2.05	2.9	3.4	5.12	4.42	4.09	5.46	5.5	5.43	3.31	5.57	5.52	3.76	4.8	4.38
Price/Cash Flow	4.63	5.76	6.53	11.34	11.34	14.31	11.99	11.8	17.91	23.02	9.84	11.63	9.15	22.03	14.09
Price/Cash Flow Average	5.03	5.75	4.83	11.16	11.48	10.94	10.81	12.28	16.18	18.99	9.63	12.1	7.95	18.82	14.42
Price/Cash Flow High	6.16	6.39	6.77	12.58	12.94	14.96	12.55	14.2	18.11	23.54	11.69	14.28	11.08	26.61	16.89
Price/Cash Flow Low	3.44	4.74	3.23	9.91	9.47	8.65	9.55	10.65	14.63	13.34	7.73	10.46	5.93	15.07	11.76
Price/Free Cash Flow Average	4.6	5.75	4.84	11.17	11.49	10.95	10.41	11.52	15.11	17.9	9.48	11.29	7.24	15.87	13.47
Price/Free Cash Flow High	5.63	6.39	6.77	12.58	12.95	14.97	12.08	13.33	16.91	22.19	11.51	13.33	10.08	22.43	15.79
Price/Free Cash Flow Low	3.15	4.74	3.24	9.92	9.48	8.66	9.19	10	13.67	12.58	7.62	9.76	5.39	12.7	10.99
EV/Sales Average	6.46	6.66	7.68	5.73	6.25	5.73	6.83	7.05	5.8	4.12	6.61	8.18	7.07	7.49	4.9
EV/Sales High	7.13	7.06	9.71	6.47	6.93	7.63	7.82	8.04	6.52	5.25	8.09	9.34	9.05	9.97	5.82
EV/Sales Low	5.51	6.05	6	5.09	5.31	4.65	6.11	6.21	5.23	2.71	5.24	7.32	5.79	6.29	3.91
EV/EBITDA Average	156.85	157.34	189.65	135.94	136.72	128.2	176.41	171.9	130.83	101.97	163.73	200.11	150.27	145.56	100.63
EV/EBITDA High	173.19	166.6	239.73	153.28	151.63	170.74	202.02	196.08	147.03	129.97	200.62	228.29	192.41	193.79	119.59
EV/EBITDA Low	133.94	142.81	148.17	120.66	116.19	104.04	157.75	151.45	117.92	67.17	129.95	178.94	122.99	122.3	80.29
EV/EBIT Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	12.03	14.71	29.79	27.77	26.53	36.23	39.39	39.62	45.99	46.01	56.7	49.42	41.32	50.22	44.05
High Price	16	16.33	30.88	30.79	30.29	37.87	41.23	47.67	46.51	47.05	67.35	60.69	50.03	60.67	52.81
Enterprise Value Average	2,026	2,002	2,444	2,028	2,369	2,341	3,043	3,831	3,542	3,140	5,246	7,302	5,581	6,064	4,922
Enterprise Value High	2,237	2,120	3,089	2,287	2,628	3,118	3,485	4,371	3,981	4,002	6,428	8,330	7,147	8,074	5,850
Enterprise Value Low	1,730	1,817	1,909	1,800	2,013	1,900	2,721	3,376	3,193	2,068	4,163	6,529	4,568	5,095	3,928

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Shares Outstanding	72	72	74	75	76	77	78	85	92	95	111	111	111	113	130
Diluted Weighted Avg Shares	72	72	73	75	76	76	78	84	88	95	99	111	111	113	120
Basic Weighted Avg Shares	72	72	73	75	76	76	78	84	88	95	99	111	111	113	120
Revenue per Share	4.36	4.18	4.35	4.74	5.02	5.36	5.74	6.5	6.92	8.04	8	8.05	7.12	7.16	8.39
EBITDA per Share	0.18	0.18	0.18	0.2	0.23	0.24	0.22	0.27	0.31	0.32	0.32	0.33	0.34	0.37	0.41
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	0.24	1.05	1.31	1.51	1.54	1.59	1.5	2.18	2.39	2.81	2.87	2.74	2.01	1.68	2
Basic EPS from Cont Ops	0.24	1.05	1.31	1.51	1.54	1.59	1.5	2.18	2.39	2.81	2.87	2.74	2.01	1.68	2
Diluted EPS, GAAP	0.24	1.05	1.31	1.51	1.54	1.59	1.5	2.17	2.38	2.81	2.86	2.74	2.01	1.68	1.99
Diluted EPS from Cont Ops	0.24	1.05	1.31	1.51	1.54	1.59	1.5	2.17	2.38	2.81	2.86	2.74	2.01	1.68	1.99
Dividend per Share	0.52	0.66	0.6	0.68	1.05	1.1	1.44	1.02	1.41	1.38	1.47	1.42	1.32	1.33	1.36
Cash Flow per Share	2.6	2.56	4.56	2.45	2.34	2.53	3.29	3.36	2.57	2	5.76	4.25	4.52	2.28	3.13
Free Cash Flow per Basic Share	2.35	2.56	4.56	2.45	2.34	2.53	3.15	3.13	2.38	1.88	5.67	3.94	4.07	1.85	2.9
Cash & Equivalents per Share	45.26	53.8	46.02	37.9	37.04	33.8	25.51	33.2	32.93	62.96	96.75	51.55	55.38	45.01	43.73
Book Value per Share	2.42	2.94	3.59	4.05	4.48	4.92	5.2	5.67	6.14	7.05	8.17	8.74	9.42	9.58	9.69
Tangible Book Value per Share	10.23	10.96	11.26	11.89	12.2	12.55	12.99	14.08	16.33	18.32	21.55	16.4	18.07	18.74	22.8

Glacier Bancorp, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)