Live Oak Bancshares, Inc. (LOB) Key Metrics
LOB valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $1.62B
- Enterprise value
- $888.0M
- P/E (TTM)
- 12.2 10-yr median 23.5
- Forward P/E
- 10.2
- PEG ratio
- —
- Price / sales
- 3.1 10-yr median 2.7
- Price / book
- 1.4 10-yr median 1.9
- EV / EBITDA
- — 10-yr median 8.2
- Dividend yield
- 0.34% $0.12 a year
- Beta
- 1.94
LOB key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsLOB valuation Price multiples at each fiscal year-end price.
LOB returns How much profit the business earns on the capital it uses.
LOB per-share figures Results divided by the shares outstanding at year-end.
LOB financial health Debt, liquidity and how easily interest is covered.
LOB efficiency & capital use Working capital cycle and where the cash goes.
LOB valuation history
LOB returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
LOB debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
LOB cash returned to shareholders
LOB price vs earnings per share
LOB key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $1.59B | $1.82B | $2.05B | $1.36B | $3.93B | $1.98B | $780.4M | $613.8M | $902.9M | $649.1M |
| Enterprise value | −$34.0M | $1.30B | $366.5M | $140.4M | $3.16B | $2.49B | $109.0M | −$87.8M | $538.7M | $360.6M |
| P/E ratio | 15.3 | 23.5 | 27.8 | 7.7 | 23.6 | 33.3 | 43.3 | 11.9 | 9.0 | 47.1 |
| Price / sales | 1.5 | 2.0 | 2.6 | 2.7 | 7.8 | 5.2 | 2.7 | 2.4 | 4.4 | 4.5 |
| Price / book | 1.3 | 1.8 | 3.5 | 1.7 | 5.5 | 3.5 | 1.5 | 1.2 | 2.1 | 2.9 |
| Price / free cash flow | 11.1 | 3.7 | 3.6 | 16.8 | — | — | — | — | — | — |
| Price / operating cash flow | 10.1 | 3.4 | 3.3 | 10.9 | — | — | — | 97.5 | — | — |
| EV / sales | -0.0 | 1.4 | 0.5 | 0.3 | 6.2 | 6.6 | 0.4 | -0.3 | 2.7 | 2.5 |
| EV / EBITDA | — | 11.5 | 3.5 | 0.6 | 13.6 | 36.0 | 2.5 | — | 5.0 | 16.8 |
| EV / free cash flow | — | 2.7 | 0.6 | 1.7 | — | — | — | — | — | — |
| Earnings yield | 6.5% | 4.3% | 3.6% | 13.0% | 4.2% | 3.0% | 2.3% | 8.4% | 11.1% | 2.1% |
| Free cash flow yield | 9.0% | 26.8% | 27.9% | 6.0% | −3.1% | −14.8% | −68.1% | −17.1% | −45.6% | −35.9% |
| Dividend yield | 0.5% | 0.3% | 0.3% | 0.4% | 0.1% | 0.2% | 0.6% | 0.8% | 0.4% | 0.4% |
| Shareholder yield (dividends + buybacks) | 0.5% | 0.3% | 0.8% | 0.4% | 0.2% | 0.2% | 0.6% | 1.5% | 0.4% | 2.3% |
| Share price at fiscal year-end | $34.35 | $39.55 | $45.50 | $30.20 | $87.29 | $47.46 | $19.01 | $14.81 | $23.85 | $18.50 |
| Per share | ||||||||||
| Revenue per share | $22.49 | $20.22 | $17.22 | $11.33 | $11.24 | $9.06 | $7.05 | $6.11 | $5.37 | $4.13 |
| Earnings per share | $2.24 | $1.69 | $1.64 | $3.92 | $3.71 | $1.43 | $0.44 | $1.24 | $2.65 | $0.39 |
| Operating cash flow per share | $3.42 | $11.67 | $13.75 | $2.77 | −$2.66 | −$6.54 | −$12.03 | $0.15 | −$7.59 | −$6.33 |
| Free cash flow per share | $3.10 | $10.60 | $12.71 | $1.80 | −$2.72 | −$7.04 | −$12.94 | −$2.53 | −$10.87 | −$6.64 |
| Cash per share | $37.30 | $13.80 | $37.89 | $28.93 | $24.36 | $25.23 | $16.42 | $17.00 | $10.34 | $9.02 |
| Book value per share | $27.00 | $21.74 | $13.01 | $18.06 | $15.87 | $13.59 | $12.72 | $11.91 | $11.54 | $6.35 |
| Tangible book value per share | $25.63 | $21.02 | $12.26 | $17.30 | $15.10 | $12.75 | $11.85 | $11.02 | $9.97 | $4.34 |
| Dividends per share | $0.18 | $0.12 | $0.12 | $0.12 | $0.12 | $0.12 | $0.12 | $0.12 | $0.10 | $0.08 |
| Capex per share | $0.32 | $1.07 | $1.04 | $0.97 | $0.07 | $0.50 | $0.91 | $2.69 | $3.28 | $0.31 |
| Debt per share | $2.21 | $2.46 | $0.52 | $1.85 | $7.24 | $37.26 | $0.06 | $0.07 | $0.72 | $0.79 |
| Shares outstanding | 46.3M | 46.0M | 45.1M | 44.9M | 45.1M | 41.8M | 41.1M | 41.4M | 37.9M | 35.1M |
| Change in shares outstanding | +0.7% | +1.9% | +0.4% | −0.4% | +7.9% | +1.7% | −0.9% | +9.5% | +7.9% | +9.7% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 9.2% | 9.8% | 10.6% | 23.1% | 26.0% | 10.9% | 3.6% | 11.1% | 30.5% | 6.5% |
| Return on invested capital (ROIC) | — | — | — | — | — | 10.3% | — | — | — | — |
| Return on assets (ROA) | 0.7% | 0.6% | 0.7% | 2.0% | 2.1% | 0.9% | 0.4% | 1.6% | 4.5% | 1.0% |
| Return on tangible assets | 0.7% | 0.6% | 0.7% | 1.8% | 2.0% | 0.8% | 0.4% | 1.4% | 3.7% | 0.8% |
| Free cash flow margin | 13.8% | 52.4% | 73.8% | 15.9% | −24.2% | −77.7% | −183.5% | −41.5% | −202.5% | −160.8% |
| Income quality (OCF / net income) | 1.52 | 6.92 | 8.39 | 0.71 | −0.72 | −4.58 | −27.39 | 0.12 | −2.86 | −16.11 |
| Financial health | ||||||||||
| Total debt | $102.4M | $112.8M | $23.4M | $83.2M | $326.3M | $1.56B | $2.6M | $2.9M | $27.4M | $27.8M |
| Cash & short-term investments | $1.73B | $634.4M | $1.71B | $1.30B | $1.10B | $1.05B | $674.0M | $704.6M | $391.6M | $316.3M |
| Net debt | −$1.62B | −$521.6M | −$1.69B | −$1.22B | −$771.7M | $502.8M | −$671.4M | −$701.7M | −$364.2M | −$288.5M |
| Debt / equity | 0.08 | 0.11 | 0.04 | 0.10 | 0.46 | 2.74 | 0.01 | 0.01 | 0.06 | 0.12 |
| Debt / assets | 0.01 | 0.01 | 0.00 | 0.01 | 0.04 | 0.20 | 0.00 | 0.00 | 0.01 | 0.02 |
| Net debt / EBITDA | −8.49 | −4.64 | −16.19 | −5.26 | −3.32 | 7.28 | −15.46 | −11.24 | −3.36 | −13.44 |
| Current ratio | 0.13 | 0.05 | 324.11 | 0.15 | 137.25 | 72.73 | 257.37 | 0.22 | 0.17 | 0.21 |
| Quick ratio | 0.13 | 0.05 | 324.11 | 0.15 | 137.17 | 72.38 | 255.23 | 0.22 | 0.17 | 0.20 |
| Interest coverage | 0.3 | 0.2 | 0.2 | 1.8 | 3.3 | 0.5 | 0.3 | 0.8 | 3.9 | 1.2 |
| Working capital | −$11.96B | −$11.13B | $1.70B | −$7.64B | $1.09B | $1.04B | $671.4M | −$2.45B | −$1.91B | −$1.20B |
| Invested capital | −$374.5M | $477.5M | −$1.10B | −$404.7M | −$56.6M | $1.07B | −$149.0M | −$208.1M | $72.7M | −$65.6M |
| Tangible asset value | $1.19B | $970.3M | $553.0M | $777.0M | $680.7M | $532.7M | $486.4M | $456.7M | $377.4M | $152.1M |
| Net current asset value | −$12.15B | −$11.31B | −$8.98B | −$7.75B | −$6.40B | −$6.25B | −$3.62B | −$2.47B | −$1.93B | −$1.22B |
| Graham number | $36.90 | $28.72 | $21.90 | $39.93 | $36.37 | $20.88 | $11.21 | $18.24 | $26.25 | $7.49 |
| Graham net-net per share | −$261.14 | −$246.02 | −$199.05 | −$172.04 | −$141.44 | −$148.97 | −$88.07 | −$59.64 | −$50.96 | −$34.64 |
| Capital allocation | ||||||||||
| Dividends paid | $8.5M | $5.4M | $5.3M | $5.3M | $5.2M | $4.9M | $4.8M | $4.8M | $3.8M | $2.7M |
| Share buybacks (net) | $0 | $0 | $11.2M | $0 | $953,000 | $0 | $0 | $4.3M | $0 | $12.2M |
| Dividend payout ratio | 8.2% | 7.0% | 7.2% | 3.0% | 3.1% | 8.2% | 26.8% | 9.3% | 3.8% | 19.9% |
| Dividends + buybacks / free cash flow | 5.9% | 1.1% | 2.9% | 6.5% | — | — | — | — | — | — |
| Capex / revenue | 1.4% | 5.3% | 6.0% | 8.6% | 0.6% | 5.5% | 12.8% | 43.9% | 61.1% | 7.5% |
| Capex / operating cash flow | 9.3% | 9.2% | 7.6% | 35.1% | — | — | — | 1,768.7% | — | — |
| Capex / depreciation | 0.49 | 2.12 | 2.20 | 2.11 | 0.14 | 0.97 | 1.86 | 6.79 | 12.08 | 2.56 |
| Stock-based compensation / revenue | 2.5% | 2.8% | 2.3% | 4.0% | 3.3% | 3.9% | 4.1% | 3.6% | 3.7% | 8.3% |
| SG&A / revenue | 24.4% | 22.1% | 26.3% | 35.5% | 27.1% | 32.6% | 37.7% | 39.3% | 43.7% | 51.3% |
| Efficiency | ||||||||||
| Days sales outstanding | 29.8 | — | — | 21.5 | 24.3 | 32.7 | — | — | — | — |
| Days of inventory on hand | — | — | — | — | 13.1 | 14.5 | 11.9 | 7.2 | 15.3 | 29.0 |
| Days payables outstanding | — | — | — | 18,487.5 | 29,389.7 | 13,502.9 | 13,056.2 | 16,411.7 | 19,543.8 | 15,387.2 |
| Cash conversion cycle (days) | — | — | — | -18,466.0 | -29,352.3 | -13,455.6 | — | — | — | — |
| Receivables turnover | 12.25 | — | — | 16.99 | 15.01 | 11.15 | — | — | — | — |
| Payables turnover | — | — | — | 0.02 | 0.01 | 0.03 | 0.03 | 0.02 | 0.02 | 0.02 |
| Inventory turnover | — | — | — | — | 27.89 | 25.11 | 30.75 | 50.66 | 23.88 | 12.59 |
| Asset turnover | 0.07 | 0.08 | 0.07 | 0.06 | 0.06 | 0.06 | 0.07 | 0.08 | 0.09 | 0.10 |
| Average receivables | $85.0M | — | — | $29.9M | $33.7M | $33.9M | — | — | — | — |
| Average payables | — | — | — | $8.00B | $6.41B | $4.97B | $3.69B | $2.70B | $1.87B | $1.14B |
| Average inventory | — | — | — | — | $2.9M | $5.4M | $3.4M | $1.2M | $1.5M | $2.2M |
| Intangibles / total assets | 0.4% | 0.3% | 0.3% | 0.3% | 0.4% | 0.4% | 0.7% | 1.0% | 2.2% | 4.0% |
Computed from LOB'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.
LOB valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Live Oak Bancshares traded at 15.3 times earnings, against a 10-year median of 23.5. Based on the latest twelve months, the trailing P/E is 12.2 and the forward P/E is 10.2. Live Oak Bancshares earned a return on equity of 9.2% in fiscal 2025. It ended the year with $102.4 million of debt and $1.7 billion in cash and short-term investments, a net cash position of $1.6 billion. It returned $8.5 million to shareholders: $8.5 million in dividends and $0 in share buybacks, 6% of free cash flow. The share count rose 32.0% from 35.1M to 46.3M over 9 years.
See the LOB income statement, the LOB chart for price history, or the LOB stock overview for the latest quote and news.
LOB key metrics FAQ
What is Live Oak Bancshares's P/E ratio?
Live Oak Bancshares's trailing P/E ratio is 12.2 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 10.2. At the end of fiscal 2025 it was 15.3, compared with a 10-year median of 23.5.
What is Live Oak Bancshares's return on equity?
Live Oak Bancshares's return on equity (ROE) was 9.2% in fiscal 2025: net income of $103.8 million on average shareholders' equity of $1.1 billion.
How much debt does Live Oak Bancshares have?
Live Oak Bancshares had total debt of $102.4 million at the end of fiscal 2025, a debt-to-equity ratio of 0.08 and more cash than debt.
What is Live Oak Bancshares's dividend yield?
Live Oak Bancshares's forward dividend yield is 0.34%. Live Oak Bancshares paid $8.5 million in dividends in fiscal 2025 ($0.18 per share), a payout ratio of 8.2%.
What is Live Oak Bancshares's free cash flow yield?
Live Oak Bancshares generated $143.5 million of free cash flow in fiscal 2025, a free cash flow yield of 9.0% on its market value at year-end ($1.6 billion).
What is Live Oak Bancshares's current ratio?
Live Oak Bancshares's current ratio was 0.13 at the end of fiscal 2025: current assets were 0.13 times current liabilities.