NBT Bancorp Inc. (NBTB) Key Metrics
NBTB valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $2.64B
- Enterprise value
- $2.82B
- P/E (TTM)
- 12.4 10-yr median 14.2
- Forward P/E
- 13.4
- PEG ratio
- 2.66
- Price / sales
- 3.7 10-yr median 3.3
- Price / book
- 1.4 10-yr median 1.5
- EV / EBITDA
- — 10-yr median 8.5
- Dividend yield
- 3.15% $1.60 a year
- Beta
- 0.49
NBTB key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsNBTB valuation Price multiples at each fiscal year-end price.
NBTB returns How much profit the business earns on the capital it uses.
NBTB per-share figures Results divided by the shares outstanding at year-end.
NBTB financial health Debt, liquidity and how easily interest is covered.
NBTB efficiency & capital use Working capital cycle and where the cash goes.
NBTB valuation history
NBTB returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
NBTB debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
NBTB cash returned to shareholders
NBTB price vs earnings per share
NBTB key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $2.11B | $2.27B | $1.88B | $1.87B | $1.68B | $1.41B | $1.79B | $1.52B | $1.62B | $1.83B |
| Enterprise value | $2.25B | $2.26B | $877.7M | $938.3M | −$960.9M | −$202.6M | $1.42B | $1.39B | $1.11B | $1.23B |
| P/E ratio | 12.5 | 16.1 | 15.8 | 12.3 | 10.9 | 13.5 | 14.8 | 13.5 | 19.7 | 23.3 |
| Price / sales | 2.4 | 2.9 | 2.8 | 3.5 | 3.4 | 2.9 | 3.5 | 3.3 | 3.8 | 4.6 |
| Price / book | 1.1 | 1.5 | 1.3 | 1.6 | 1.3 | 1.2 | 1.6 | 1.5 | 1.7 | 2.0 |
| Price / free cash flow | 9.6 | 12.8 | 12.7 | 10.6 | 11.2 | 10.5 | 12.2 | 10.8 | 12.4 | 17.2 |
| Price / operating cash flow | 9.0 | 12.0 | 11.9 | 10.2 | 10.7 | 9.9 | 11.7 | 10.3 | 11.8 | 16.7 |
| EV / sales | 2.6 | 2.9 | 1.3 | 1.7 | -1.9 | -0.4 | 2.8 | 3.0 | 2.6 | 3.1 |
| EV / EBITDA | 8.9 | 10.9 | 5.0 | 4.4 | — | — | 8.1 | 9.2 | 7.9 | 9.3 |
| EV / free cash flow | 10.3 | 12.8 | 5.9 | 5.3 | — | — | 9.7 | 9.9 | 8.5 | 11.5 |
| Earnings yield | 8.0% | 6.2% | 6.3% | 8.1% | 9.2% | 7.4% | 6.8% | 7.4% | 5.1% | 4.3% |
| Free cash flow yield | 10.4% | 7.8% | 7.9% | 9.4% | 8.9% | 9.5% | 8.2% | 9.2% | 8.1% | 5.8% |
| Dividend yield | 3.4% | 2.7% | 3.0% | 2.7% | 2.8% | 3.3% | 2.6% | 2.8% | 2.5% | 2.1% |
| Shareholder yield (dividends + buybacks) | 3.9% | 2.8% | 3.2% | 3.4% | 4.1% | 3.9% | 2.6% | 3.0% | 2.7% | 3.1% |
| Share price at fiscal year-end | $41.52 | $47.76 | $41.91 | $43.42 | $38.52 | $32.10 | $40.56 | $34.59 | $36.80 | $41.88 |
| Per share | ||||||||||
| Revenue per share | $17.05 | $16.57 | $14.79 | $12.44 | $11.32 | $11.17 | $11.50 | $10.56 | $9.68 | $9.15 |
| Earnings per share | $3.33 | $2.97 | $2.65 | $3.52 | $3.54 | $2.37 | $2.74 | $2.56 | $1.87 | $1.80 |
| Operating cash flow per share | $4.62 | $3.98 | $3.52 | $4.24 | $3.61 | $3.24 | $3.48 | $3.36 | $3.12 | $2.51 |
| Free cash flow per share | $4.30 | $3.73 | $3.31 | $4.08 | $3.43 | $3.05 | $3.33 | $3.19 | $2.97 | $2.43 |
| Cash per share | $3.64 | $8.86 | $36.54 | $39.94 | $67.62 | $45.95 | $27.02 | $26.79 | $32.24 | $34.10 |
| Book value per share | $37.27 | $32.17 | $31.84 | $27.18 | $28.60 | $27.00 | $25.39 | $23.12 | $21.82 | $20.94 |
| Tangible book value per share | $27.23 | $23.76 | $22.86 | $20.50 | $21.98 | $20.35 | $18.89 | $16.53 | $15.41 | $14.49 |
| Dividends per share | $1.43 | $1.31 | $1.25 | $1.15 | $1.09 | $1.07 | $1.04 | $0.98 | $0.91 | $0.89 |
| Capex per share | $0.32 | $0.25 | $0.21 | $0.16 | $0.18 | $0.19 | $0.15 | $0.17 | $0.15 | $0.08 |
| Debt per share | $6.44 | $8.75 | $14.24 | $18.25 | $7.12 | $9.25 | $18.60 | $23.78 | $20.71 | $20.33 |
| Shares outstanding | 50.9M | 47.4M | 44.8M | 43.2M | 43.7M | 44.0M | 44.1M | 44.0M | 43.9M | 43.6M |
| Change in shares outstanding | +7.3% | +5.9% | +3.7% | −1.2% | −0.6% | −0.3% | +0.2% | +0.3% | +0.6% | −1.7% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 9.9% | 9.5% | 9.1% | 12.5% | 12.7% | 9.0% | 11.3% | 11.4% | 8.8% | 8.7% |
| Return on invested capital (ROIC) | 9.5% | 14.4% | 35.8% | — | — | — | 14.8% | 16.8% | 21.5% | 28.3% |
| Return on assets (ROA) | 1.1% | 1.0% | 0.9% | 1.3% | 1.4% | 1.0% | 1.3% | 1.2% | 0.9% | 0.9% |
| Return on tangible assets | 1.1% | 1.1% | 0.9% | 1.3% | 1.3% | 1.0% | 1.3% | 1.2% | 0.9% | 0.9% |
| Free cash flow margin | 25.2% | 22.5% | 22.4% | 32.8% | 30.3% | 27.3% | 28.9% | 30.2% | 30.6% | 26.6% |
| Income quality (OCF / net income) | 1.39 | 1.34 | 1.33 | 1.21 | 1.02 | 1.36 | 1.27 | 1.31 | 1.67 | 1.40 |
| Financial health | ||||||||||
| Total debt | $327.4M | $415.0M | $637.4M | $788.0M | $311.5M | $406.7M | $820.7M | $1.05B | $909.2M | $887.0M |
| Cash & short-term investments | $185.2M | $420.4M | $1.64B | $1.72B | $2.96B | $2.02B | $1.19B | $1.18B | $1.42B | $1.49B |
| Net debt | $142.3M | −$5.4M | −$998.7M | −$936.6M | −$2.64B | −$1.61B | −$371.5M | −$132.8M | −$506.4M | −$600.5M |
| Debt / equity | 0.17 | 0.27 | 0.45 | 0.67 | 0.25 | 0.34 | 0.73 | 1.03 | 0.95 | 0.97 |
| Debt / assets | 0.02 | 0.03 | 0.05 | 0.07 | 0.03 | 0.04 | 0.08 | 0.11 | 0.10 | 0.10 |
| Net debt / EBITDA | 0.56 | −0.03 | −5.68 | −4.35 | −12.04 | −10.51 | −2.11 | −0.88 | −3.59 | −4.56 |
| Current ratio | 1.60 | 0.04 | 0.14 | 0.17 | 0.29 | 0.22 | 0.14 | 0.14 | 0.18 | 0.19 |
| Quick ratio | 1.60 | 0.04 | 0.14 | 0.17 | 0.29 | 0.22 | 0.14 | 0.14 | 0.18 | 0.19 |
| Interest coverage | 1.0 | 0.8 | 1.1 | 9.0 | 10.6 | 4.1 | 2.8 | 3.5 | 4.9 | 5.3 |
| Working capital | $89.1M | −$11.29B | −$9.72B | −$8.36B | −$7.38B | −$7.23B | −$7.05B | −$7.06B | −$6.47B | −$6.17B |
| Invested capital | $2.04B | $1.52B | $427.0M | $236.9M | −$1.39B | −$427.0M | $748.9M | $885.1M | $451.8M | $312.8M |
| Tangible asset value | $1.39B | $1.13B | $1.02B | $885.0M | $961.0M | $895.3M | $833.6M | $727.5M | $676.7M | $632.1M |
| Net current asset value | −$13.86B | −$11.84B | −$10.25B | −$8.84B | −$7.81B | −$7.72B | −$7.40B | −$7.36B | −$6.76B | −$6.47B |
| Graham number | $52.82 | $46.33 | $43.60 | $46.39 | $47.75 | $37.97 | $39.59 | $36.48 | $30.31 | $29.10 |
| Graham net-net per share | −$272.72 | −$249.62 | −$228.89 | −$64.94 | −$51.47 | −$175.57 | −$167.77 | −$167.15 | −$153.99 | −$148.18 |
| Capital allocation | ||||||||||
| Dividends paid | $72.6M | $62.3M | $55.9M | $49.8M | $47.7M | $47.2M | $46.0M | $43.3M | $40.1M | $38.9M |
| Share buybacks (net) | $10.2M | $251,000 | $4.9M | $14.7M | $21.7M | $8.0M | $725,000 | $1.9M | $3.6M | $17.2M |
| Dividend payout ratio | 42.9% | 44.3% | 47.0% | 32.7% | 30.8% | 45.2% | 38.0% | 38.4% | 48.8% | 49.6% |
| Dividends + buybacks / free cash flow | 37.8% | 35.4% | 41.0% | 36.6% | 46.3% | 41.1% | 31.8% | 32.2% | 33.5% | 52.8% |
| Capex / revenue | 1.9% | 1.5% | 1.4% | 1.3% | 1.6% | 1.7% | 1.3% | 1.6% | 1.6% | 0.8% |
| Capex / operating cash flow | 6.9% | 6.2% | 5.9% | 3.8% | 4.9% | 5.7% | 4.3% | 5.0% | 4.9% | 3.0% |
| Capex / depreciation | 0.49 | 0.43 | 0.42 | 0.37 | 0.39 | 0.40 | 0.33 | 0.56 | 0.51 | 0.26 |
| Stock-based compensation / revenue | −0.1% | 0.8% | 0.8% | 0.8% | 0.9% | 0.9% | 0.8% | 0.8% | 0.9% | 1.1% |
| SG&A / revenue | 10.1% | 30.9% | 30.7% | 36.1% | 36.0% | 34.0% | 36.8% | 39.4% | 39.1% | 40.7% |
| Efficiency | ||||||||||
| Days sales outstanding | 21.9 | — | — | 5,252.7 | 5,464.0 | — | — | — | — | — |
| Days of inventory on hand | — | — | — | 1.3 | 28.2 | 6.4 | 8.7 | 18.9 | 32.4 | 39.0 |
| Days payables outstanding | — | — | — | 92,264.3 | 334,745.0 | 36,329.8 | 33,535.3 | 39,335.5 | 45,364.6 | 51,694.6 |
| Cash conversion cycle (days) | — | — | — | -87,010.4 | -329,252.8 | — | — | — | — | — |
| Receivables turnover | 16.68 | — | — | 0.07 | 0.07 | — | — | — | — | — |
| Payables turnover | — | — | — | 0.00 | 0.00 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Inventory turnover | — | — | — | 286.96 | 12.96 | 57.43 | 41.75 | 19.36 | 11.26 | 9.36 |
| Asset turnover | 0.06 | 0.06 | 0.05 | 0.05 | 0.04 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 |
| Average receivables | $52.0M | — | — | $7.73B | $7.41B | — | — | — | — | — |
| Average payables | — | — | — | $9.87B | $9.66B | $8.33B | $7.48B | $7.27B | $7.07B | $6.79B |
| Average inventory | — | — | — | $136,000 | $812,500 | $1.5M | $1.9M | $3.5M | $5.1M | $5.1M |
| Intangibles / total assets | 3.2% | 2.9% | 3.0% | 2.5% | 2.4% | 2.7% | 3.0% | 3.0% | 3.1% | 3.2% |
Computed from NBTB'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.
NBTB valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), NBT Bancorp traded at 12.5 times earnings, against a 10-year median of 14.2. Based on the latest twelve months, the trailing P/E is 12.4 and the forward P/E is 13.4. NBT Bancorp earned a return on equity of 9.9% and a return on invested capital of 9.5% in fiscal 2025. It ended the year with $327.4 million of debt and $185.2 million in cash and short-term investments, net debt of $142.3 million. It returned $82.8 million to shareholders: $72.6 million in dividends and $10.2 million in share buybacks, 38% of free cash flow. The share count rose 16.6% from 43.6M to 50.9M over 9 years.
See the NBTB income statement, the NBTB chart for price history, or the NBTB stock overview for the latest quote and news.
NBTB key metrics FAQ
What is NBT Bancorp's P/E ratio?
NBT Bancorp's trailing P/E ratio is 12.4 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 13.4. At the end of fiscal 2025 it was 12.5, compared with a 10-year median of 14.2.
What is NBT Bancorp's EV/EBITDA?
NBT Bancorp's enterprise value was 8.9 times EBITDA at the end of fiscal 2025 (enterprise value $2.3 billion, EBITDA $253.0 million).
What is NBT Bancorp's return on equity?
NBT Bancorp's return on equity (ROE) was 9.9% in fiscal 2025: net income of $169.2 million on average shareholders' equity of $1.7 billion.
What is NBT Bancorp's ROIC?
NBT Bancorp's return on invested capital was 9.5% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does NBT Bancorp have?
NBT Bancorp had total debt of $327.4 million at the end of fiscal 2025, a debt-to-equity ratio of 0.17 and $142.3 million of net debt (0.56 times EBITDA).
What is NBT Bancorp's dividend yield?
NBT Bancorp's forward dividend yield is 3.15%. NBT Bancorp paid $72.6 million in dividends in fiscal 2025 ($1.43 per share), a payout ratio of 42.9%.
Does NBT Bancorp buy back its shares?
Yes. NBT Bancorp spent $10.2 million on net share repurchases in fiscal 2025 Shares outstanding changed +7.3% over the year, to 50.9M..
What is NBT Bancorp's free cash flow yield?
NBT Bancorp generated $218.9 million of free cash flow in fiscal 2025, a free cash flow yield of 10.4% on its market value at year-end ($2.1 billion).
What is NBT Bancorp's current ratio?
NBT Bancorp's current ratio was 1.60 at the end of fiscal 2025: current assets were 1.60 times current liabilities.