Bank First Corporation (BFC) Key Metrics
BFC valuation today
Trailing 12 months · as of October 17, 2026- Market cap
- $1.64B
- Enterprise value
- $1.48B
- P/E (TTM)
- 19.2 10-yr median 14.5
- Forward P/E
- 5.8
- PEG ratio
- 0.10
- Price / sales
- 7.5 10-yr median 4.7
- Price / book
- 2.0 10-yr median 1.6
- EV / EBITDA
- — 10-yr median 6.3
- Dividend yield
- 1.62% $2.40 a year
- Beta
- 0.41
BFC key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsBFC valuation Price multiples at each fiscal year-end price.
BFC returns How much profit the business earns on the capital it uses.
BFC per-share figures Results divided by the shares outstanding at year-end.
BFC financial health Debt, liquidity and how easily interest is covered.
BFC efficiency & capital use Working capital cycle and where the cash goes.
BFC valuation history
BFC returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
BFC debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
BFC cash returned to shareholders
BFC price vs earnings per share
BFC key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $1.20B | $996.3M | $883.8M | $749.0M | $552.1M | $484.9M | $483.3M | $311.0M | $281.0M | $207.3M |
| Enterprise value | $1.27B | $729.4M | $603.5M | $446.8M | $116.2M | $375.4M | $359.0M | $169.0M | $130.1M | $105.8M |
| P/E ratio | 16.8 | 15.2 | 11.9 | 16.6 | 12.1 | 12.7 | 18.1 | 12.2 | 18.3 | 13.9 |
| Price / sales | 5.0 | 4.5 | 4.7 | 5.7 | 4.7 | 4.1 | 5.0 | 3.7 | 4.7 | 4.1 |
| Price / book | 1.9 | 1.6 | 1.4 | 1.7 | 0.2 | 0.2 | 0.2 | 1.8 | 1.7 | 1.6 |
| Price / free cash flow | 23.5 | 17.0 | 22.4 | 22.6 | 17.5 | 13.6 | 31.4 | 20.6 | 18.1 | 15.8 |
| Price / operating cash flow | 19.2 | 15.1 | 16.7 | 18.7 | 13.7 | 11.0 | 21.3 | 13.5 | 15.3 | 14.4 |
| EV / sales | 5.3 | 3.3 | 3.2 | 3.4 | 1.0 | 3.2 | 3.7 | 2.0 | 2.2 | 2.1 |
| EV / EBITDA | 13.2 | 8.3 | 5.6 | 7.0 | 1.8 | 7.1 | 9.8 | 5.0 | 5.1 | 4.5 |
| EV / free cash flow | 24.8 | 12.4 | 15.3 | 13.5 | 3.7 | 10.5 | 23.3 | 11.2 | 8.4 | 8.1 |
| Earnings yield | 6.0% | 6.6% | 8.4% | 6.0% | 8.2% | 7.8% | 5.5% | 8.2% | 5.4% | 7.2% |
| Free cash flow yield | 4.3% | 5.9% | 4.5% | 4.4% | 5.7% | 7.3% | 3.2% | 4.9% | 5.5% | 6.3% |
| Dividend yield | 4.4% | 1.6% | 1.4% | 1.0% | 1.6% | 1.3% | 1.1% | 1.5% | 1.4% | 1.8% |
| Shareholder yield (dividends + buybacks) | 6.2% | 4.8% | 2.5% | 3.0% | 3.1% | 2.2% | 2.0% | 4.8% | 2.7% | 3.0% |
| Share price at fiscal year-end | $121.82 | $99.09 | $86.66 | $92.82 | $72.24 | $64.82 | $70.01 | $46.60 | $44.70 | $33.33 |
| Per share | ||||||||||
| Revenue per share | $24.45 | $22.20 | $18.28 | $16.21 | $15.28 | $15.64 | $14.07 | $12.66 | $9.43 | $8.04 |
| Earnings per share | $7.27 | $6.52 | $7.31 | $5.60 | $5.95 | $5.09 | $3.87 | $3.81 | $2.44 | $2.40 |
| Operating cash flow per share | $6.35 | $6.55 | $5.19 | $4.96 | $5.27 | $5.88 | $3.28 | $3.45 | $2.91 | $2.32 |
| Free cash flow per share | $5.19 | $5.83 | $3.87 | $4.11 | $4.13 | $4.76 | $2.23 | $2.27 | $2.47 | $2.10 |
| Cash per share | $5.63 | $41.20 | $39.95 | $52.59 | $66.67 | $27.70 | $34.58 | $27.74 | $27.98 | $24.38 |
| Book value per share | $65.47 | $63.62 | $60.77 | $56.15 | $381.00 | $357.84 | $310.28 | $26.12 | $25.73 | $20.50 |
| Tangible book value per share | $46.01 | $42.77 | $39.61 | $39.22 | $372.57 | $349.20 | $302.59 | $23.08 | $22.44 | $18.83 |
| Dividends per share | $5.34 | $1.55 | $1.17 | $0.97 | $1.14 | $0.82 | $0.79 | $0.68 | $0.64 | $0.59 |
| Capex per share | $1.16 | $0.72 | $1.32 | $0.85 | $1.14 | $1.12 | $1.05 | $1.19 | $0.45 | $0.21 |
| Debt per share | $12.56 | $14.66 | $12.47 | $15.14 | $9.63 | $13.06 | $16.57 | $6.46 | $3.98 | $8.05 |
| Shares outstanding | 9.8M | 10.1M | 10.2M | 8.1M | 7.6M | 7.5M | 6.9M | 6.7M | 6.3M | 6.2M |
| Change in shares outstanding | −2.2% | −1.4% | +26.4% | +5.6% | +2.2% | +8.4% | +3.4% | +6.2% | +1.0% | −1.1% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 11.1% | 10.4% | 13.9% | 2.7% | 1.6% | 1.6% | 2.3% | 15.2% | 10.6% | 12.1% |
| Return on invested capital (ROIC) | 13.2% | 18.4% | 30.4% | 3.4% | 1.8% | 1.7% | 2.6% | 117.8% | 83.1% | 45.8% |
| Return on assets (ROA) | 1.6% | 1.5% | 1.9% | 1.4% | 1.6% | 1.5% | 1.3% | 1.4% | 1.0% | 1.2% |
| Return on tangible assets | 1.7% | 1.5% | 1.9% | 1.3% | 1.6% | 1.4% | 1.2% | 1.4% | 0.9% | 1.1% |
| Free cash flow margin | 21.2% | 26.3% | 21.2% | 25.3% | 27.0% | 30.4% | 15.8% | 17.9% | 26.1% | 26.2% |
| Income quality (OCF / net income) | 0.87 | 1.00 | 0.71 | 0.88 | 0.89 | 1.16 | 0.85 | 0.91 | 1.20 | 0.97 |
| Financial health | ||||||||||
| Total debt | $123.6M | $147.4M | $127.1M | $122.2M | $73.6M | $97.7M | $114.4M | $43.1M | $25.0M | $50.1M |
| Cash & short-term investments | $55.3M | $414.3M | $407.4M | $424.4M | $509.5M | $207.2M | $238.7M | $185.1M | $175.9M | $151.6M |
| Net debt | $68.2M | −$266.9M | −$280.3M | −$302.2M | −$436.0M | −$109.5M | −$124.3M | −$142.0M | −$150.9M | −$101.5M |
| Debt / equity | 0.19 | 0.23 | 0.21 | 0.27 | 0.03 | 0.04 | 0.05 | 0.25 | 0.15 | 0.39 |
| Debt / assets | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.04 | 0.05 | 0.02 | 0.01 | 0.04 |
| Net debt / EBITDA | 0.71 | −3.05 | −2.61 | −4.75 | −6.90 | −2.06 | −3.39 | −4.18 | −5.94 | −4.31 |
| Current ratio | 1.84 | 0.11 | 0.12 | 0.26 | 0.21 | 0.10 | 0.16 | 3.24 | 305.28 | 0.13 |
| Quick ratio | 1.84 | 0.11 | 0.12 | 0.26 | 0.21 | 0.10 | 0.15 | 3.24 | 304.02 | 0.13 |
| Interest coverage | 1.3 | 1.2 | 2.0 | 4.8 | 7.2 | 3.6 | 1.8 | 2.2 | 3.1 | 3.8 |
| Working capital | $25.3M | −$3.25B | −$3.10B | −$1.22B | −$1.97B | −$1.82B | −$1.26B | $1.08B | $1.52B | −$1.03B |
| Invested capital | $712.0M | $372.8M | $339.5M | $150.9M | $2.48B | $2.57B | $2.02B | $32.3M | $10.9M | $26.0M |
| Tangible asset value | $452.5M | $430.0M | $404.0M | $316.5M | $2.85B | $2.61B | $2.09B | $154.0M | $141.1M | $117.1M |
| Net current asset value | −$3.82B | −$3.44B | −$3.19B | −$2.78B | $484.0M | $166.3M | $170.3M | −$60.1M | −$65.3M | −$1.04B |
| Graham number | $103.48 | $96.61 | $99.95 | $84.14 | $225.76 | $202.35 | $164.31 | $47.35 | $37.55 | $33.25 |
| Graham net-net per share | −$388.63 | −$342.23 | −$313.23 | −$343.84 | $63.83 | $22.35 | $25.17 | −$214.56 | −$224.74 | −$166.55 |
| Capital allocation | ||||||||||
| Dividends paid | $52.5M | $15.6M | $12.0M | $7.8M | $8.7M | $6.1M | $5.5M | $4.5M | $4.0M | $3.7M |
| Share buybacks (net) | $22.0M | $31.9M | $10.0M | $14.3M | $8.3M | $4.4M | $4.2M | $10.4M | $3.6M | $2.6M |
| Dividend payout ratio | 73.4% | 23.7% | 16.0% | 17.3% | 19.2% | 16.2% | 20.5% | 17.8% | 26.4% | 24.6% |
| Dividends + buybacks / free cash flow | 146.1% | 81.0% | 55.8% | 66.8% | 53.9% | 29.5% | 62.9% | 99.0% | 49.5% | 47.8% |
| Capex / revenue | 4.8% | 3.2% | 7.2% | 5.3% | 7.5% | 7.2% | 7.5% | 9.4% | 4.8% | 2.6% |
| Capex / operating cash flow | 18.3% | 11.0% | 25.5% | 17.2% | 21.6% | 19.0% | 32.1% | 34.4% | 15.4% | 9.2% |
| Capex / depreciation | 1.54 | 0.90 | 1.61 | 1.73 | 2.74 | 2.64 | 3.10 | 4.23 | 2.25 | 1.44 |
| Stock-based compensation / revenue | 0.9% | 1.0% | 1.1% | 1.3% | 1.2% | 0.9% | 0.7% | 0.7% | 0.8% | 0.8% |
| SG&A / revenue | 23.2% | 19.3% | 22.6% | 26.4% | 24.6% | 29.0% | 29.1% | 30.7% | 34.0% | 32.7% |
| Efficiency | ||||||||||
| Days sales outstanding | — | — | — | 20.4 | 15.7 | — | — | — | — | — |
| Days of inventory on hand | — | — | — | 33.3 | 32.6 | 76.3 | 77.3 | 101.2 | 163.1 | 100.4 |
| Days payables outstanding | — | — | — | 69,624.7 | 77,605.8 | 36,206.8 | 25,076.3 | 31,448.0 | 54,699.4 | 63,915.7 |
| Cash conversion cycle (days) | — | — | — | -69,571.1 | -77,557.5 | — | — | — | — | — |
| Receivables turnover | — | — | — | 17.92 | 23.28 | — | — | — | — | — |
| Payables turnover | — | — | — | 0.01 | 0.00 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Inventory turnover | — | — | — | 10.97 | 11.21 | 4.79 | 4.72 | 3.61 | 2.24 | 3.64 |
| Asset turnover | 0.05 | 0.05 | 0.05 | 0.04 | 0.04 | 0.05 | 0.05 | 0.05 | 0.04 | 0.04 |
| Average receivables | — | — | — | $7.3M | $5.0M | — | — | — | — | — |
| Average payables | — | — | — | $2.79B | $2.42B | $2.08B | $1.70B | $1.53B | $1.32B | $1.09B |
| Average inventory | — | — | — | $1.3M | $1.0M | $4.4M | $5.2M | $4.9M | $3.9M | $1.7M |
| Intangibles / total assets | 4.2% | 4.7% | 5.1% | 3.7% | 2.2% | 2.4% | 2.4% | 1.1% | 1.2% | 0.8% |
Computed from BFC's annual financial statements (latest annual report filed February 27, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
BFC valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Bank First traded at 16.8 times earnings, against a 10-year median of 14.5. Based on the latest twelve months, the trailing P/E is 19.2 and the forward P/E is 5.8. Bank First earned a return on equity of 11.1% and a return on invested capital of 13.2% in fiscal 2025. It ended the year with $123.6 million of debt and $55.3 million in cash and short-term investments, net debt of $68.2 million. It returned $74.5 million to shareholders: $52.5 million in dividends and $22.0 million in share buybacks, 146% of free cash flow. The share count rose 58.1% from 6.2M to 9.8M over 9 years.
See the BFC income statement, the BFC chart for price history, or the BFC stock overview for the latest quote and news.
BFC key metrics FAQ
What is Bank First's P/E ratio?
Bank First's trailing P/E ratio is 19.2 based on the last twelve months of earnings (as of October 17, 2026), and its forward P/E is 5.8. At the end of fiscal 2025 it was 16.8, compared with a 10-year median of 14.5.
What is Bank First's EV/EBITDA?
Bank First's enterprise value was 13.2 times EBITDA at the end of fiscal 2025 (enterprise value $1.3 billion, EBITDA $95.6 million).
What is Bank First's return on equity?
Bank First's return on equity (ROE) was 11.1% in fiscal 2025: net income of $71.5 million on average shareholders' equity of $641.8 million.
What is Bank First's ROIC?
Bank First's return on invested capital was 13.2% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Bank First have?
Bank First had total debt of $123.6 million at the end of fiscal 2025, a debt-to-equity ratio of 0.19 and $68.2 million of net debt (0.71 times EBITDA).
What is Bank First's dividend yield?
Bank First's forward dividend yield is 1.62%. Bank First paid $52.5 million in dividends in fiscal 2025 ($5.34 per share), a payout ratio of 73.4%.
Does Bank First buy back its shares?
Yes. Bank First spent $22.0 million on net share repurchases in fiscal 2025 Shares outstanding changed −2.2% over the year, to 9.8M..
What is Bank First's free cash flow yield?
Bank First generated $51.0 million of free cash flow in fiscal 2025, a free cash flow yield of 4.3% on its market value at year-end ($1.2 billion).
What is Bank First's current ratio?
Bank First's current ratio was 1.84 at the end of fiscal 2025: current assets were 1.84 times current liabilities.