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OLD NATIONAL BANCORP (ONB) Stock Fundamental Analysis

NASDAQ:ONB - Nasdaq - US6800331075 - Common Stock - Currency: USD

23.85  +0.31 (+1.32%)

After market: 23.85 0 (0%)

Fundamental Rating

4

ONB gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 405 industry peers in the Banks industry. Both the profitability and financial health of ONB have multiple concerns. ONB has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

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3

1. Profitability

1.1 Basic Checks

In the past year ONB was profitable.
ONB had a positive operating cash flow in the past year.
In the past 5 years ONB has always been profitable.
ONB had a positive operating cash flow in 4 of the past 5 years.
ONB Yearly Net Income VS EBIT VS OCF VS FCFONB Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M 400M 600M 800M

1.2 Ratios

ONB's Return On Assets of 0.94% is fine compared to the rest of the industry. ONB outperforms 64.07% of its industry peers.
Looking at the Return On Equity, with a value of 7.88%, ONB is in line with its industry, outperforming 48.24% of the companies in the same industry.
Industry RankSector Rank
ROA 0.94%
ROE 7.88%
ROIC N/A
ROA(3y)1.01%
ROA(5y)1.03%
ROE(3y)8.83%
ROE(5y)8.67%
ROIC(3y)N/A
ROIC(5y)N/A
ONB Yearly ROA, ROE, ROICONB Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2 4 6 8 10

1.3 Margins

ONB has a better Profit Margin (26.97%) than 71.61% of its industry peers.
ONB's Profit Margin has been stable in the last couple of years.
The Operating Margin and Gross Margin are not available for ONB so they could not be analyzed.
Industry RankSector Rank
OM N/A
PM (TTM) 26.97%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-6.77%
PM growth 5Y-1.32%
GM growth 3YN/A
GM growth 5YN/A
ONB Yearly Profit, Operating, Gross MarginsONB Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30

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2

2. Health

2.1 Basic Checks

ONB does not have a ROIC to compare to the WACC, probably because it is not profitable.
The number of shares outstanding for ONB has been increased compared to 1 year ago.
The number of shares outstanding for ONB has been increased compared to 5 years ago.
The debt/assets ratio for ONB has been reduced compared to a year ago.
ONB Yearly Shares OutstandingONB Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M
ONB Yearly Total Debt VS Total AssetsONB Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10B 20B 30B 40B 50B

2.2 Solvency

The Debt to FCF ratio of ONB is 2.30, which is a good value as it means it would take ONB, 2.30 years of fcf income to pay off all of its debts.
ONB has a Debt to FCF ratio (2.30) which is comparable to the rest of the industry.
ONB has a Debt/Equity ratio of 0.15. This is a healthy value indicating a solid balance between debt and equity.
Looking at the Debt to Equity ratio, with a value of 0.15, ONB is in the better half of the industry, outperforming 61.81% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.15
Debt/FCF 2.3
Altman-Z N/A
ROIC/WACCN/A
WACC9.85%
ONB Yearly LT Debt VS Equity VS FCFONB Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2B 4B 6B

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
ONB Yearly Current Assets VS Current LiabilitesONB Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B

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6

3. Growth

3.1 Past

The earnings per share for ONB have decreased by -9.27% in the last year.
ONB shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 6.00% yearly.
The Revenue has been growing slightly by 2.67% in the past year.
Measured over the past years, ONB shows a quite strong growth in Revenue. The Revenue has been growing by 18.60% on average per year.
EPS 1Y (TTM)-9.27%
EPS 3Y2.44%
EPS 5Y6%
EPS Q2Q%6.52%
Revenue 1Y (TTM)2.67%
Revenue growth 3Y32.5%
Revenue growth 5Y18.6%
Sales Q2Q%5.48%

3.2 Future

Based on estimates for the next years, ONB will show a quite strong growth in Earnings Per Share. The EPS will grow by 16.85% on average per year.
The Revenue is expected to grow by 21.93% on average over the next years. This is a very strong growth
EPS Next Y12.65%
EPS Next 2Y19.95%
EPS Next 3Y16.85%
EPS Next 5YN/A
Revenue Next Year23.61%
Revenue Next 2Y21.93%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
ONB Yearly Revenue VS EstimatesONB Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 500M 1B 1.5B 2B 2.5B
ONB Yearly EPS VS EstimatesONB Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0.5 1 1.5 2 2.5

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4

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 12.82, ONB is valued correctly.
ONB's Price/Earnings is on the same level as the industry average.
ONB's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 28.47.
ONB is valuated reasonably with a Price/Forward Earnings ratio of 11.38.
Compared to the rest of the industry, the Price/Forward Earnings ratio of ONB is on the same level as its industry peers.
ONB is valuated cheaply when we compare the Price/Forward Earnings ratio to 92.74, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 12.82
Fwd PE 11.38
ONB Price Earnings VS Forward Price EarningsONB Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80

4.2 Price Multiples

ONB's Price/Free Cash Flow ratio is a bit more expensive when compared to the industry. ONB is more expensive than 63.32% of the companies in the same industry.
Industry RankSector Rank
P/FCF 17.88
EV/EBITDA N/A
ONB Per share dataONB EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15

4.3 Compensation for Growth

ONB's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
A more expensive valuation may be justified as ONB's earnings are expected to grow with 16.85% in the coming years.
PEG (NY)1.01
PEG (5Y)2.14
EPS Next 2Y19.95%
EPS Next 3Y16.85%

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6

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 2.35%, ONB has a reasonable but not impressive dividend return.
ONB's Dividend Yield is slightly below the industry average, which is at 3.15.
ONB's Dividend Yield is comparable with the S&P500 average which is at 2.28.
Industry RankSector Rank
Dividend Yield 2.35%

5.2 History

The dividend of ONB has a limited annual growth rate of 4.11%.
ONB has paid a dividend for at least 10 years, which is a reliable track record.
ONB has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)4.11%
Div Incr Years0
Div Non Decr Years14
ONB Yearly Dividends per shareONB Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0.1 0.2 0.3 0.4 0.5

5.3 Sustainability

37.37% of the earnings are spent on dividend by ONB. This is a low number and sustainable payout ratio.
ONB's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP37.37%
EPS Next 2Y19.95%
EPS Next 3Y16.85%
ONB Yearly Income VS Free CF VS DividendONB Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M 400M 600M
ONB Dividend Payout.ONB Dividend Payout, showing the Payout Ratio.ONB Dividend Payout.PayoutRetained Earnings

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OLD NATIONAL BANCORP

NASDAQ:ONB (2/4/2025, 8:00:02 PM)

After market: 23.85 0 (0%)

23.85

+0.31 (+1.32%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)01-21 2025-01-21/bmo
Earnings (Next)N/A N/A
Inst Owners82.23%
Inst Owner Change0.29%
Ins Owners0.54%
Ins Owner Change-1.54%
Market Cap7.61B
Analysts80
Price Target28.16 (18.07%)
Short Float %10.7%
Short Ratio10.68
Dividend
Industry RankSector Rank
Dividend Yield 2.35%
Yearly Dividend0.61
Dividend Growth(5Y)4.11%
DP37.37%
Div Incr Years0
Div Non Decr Years14
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)0.63%
Min EPS beat(2)-1.26%
Max EPS beat(2)2.51%
EPS beat(4)2
Avg EPS beat(4)0.05%
Min EPS beat(4)-4.86%
Max EPS beat(4)3.8%
EPS beat(8)5
Avg EPS beat(8)0.87%
EPS beat(12)9
Avg EPS beat(12)5.99%
EPS beat(16)13
Avg EPS beat(16)8.05%
Revenue beat(2)0
Avg Revenue beat(2)-0.41%
Min Revenue beat(2)-0.59%
Max Revenue beat(2)-0.23%
Revenue beat(4)1
Avg Revenue beat(4)-0.18%
Min Revenue beat(4)-2.32%
Max Revenue beat(4)2.43%
Revenue beat(8)3
Avg Revenue beat(8)1.25%
Revenue beat(12)6
Avg Revenue beat(12)2.2%
Revenue beat(16)8
Avg Revenue beat(16)1.69%
PT rev (1m)3.11%
PT rev (3m)20.05%
EPS NQ rev (1m)-0.17%
EPS NQ rev (3m)-0.86%
EPS NY rev (1m)1.69%
EPS NY rev (3m)5.41%
Revenue NQ rev (1m)-0.32%
Revenue NQ rev (3m)-0.49%
Revenue NY rev (1m)0.3%
Revenue NY rev (3m)17.78%
Valuation
Industry RankSector Rank
PE 12.82
Fwd PE 11.38
P/S 4.09
P/FCF 17.88
P/OCF 16.56
P/B 1.19
P/tB 1.87
EV/EBITDA N/A
EPS(TTM)1.86
EY7.8%
EPS(NY)2.1
Fwd EY8.79%
FCF(TTM)1.33
FCFY5.59%
OCF(TTM)1.44
OCFY6.04%
SpS5.83
BVpS19.96
TBVpS12.74
PEG (NY)1.01
PEG (5Y)2.14
Profitability
Industry RankSector Rank
ROA 0.94%
ROE 7.88%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 26.97%
GM N/A
FCFM 22.88%
ROA(3y)1.01%
ROA(5y)1.03%
ROE(3y)8.83%
ROE(5y)8.67%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-6.77%
PM growth 5Y-1.32%
GM growth 3YN/A
GM growth 5YN/A
F-Score4
Asset Turnover0.03
Health
Industry RankSector Rank
Debt/Equity 0.15
Debt/FCF 2.3
Debt/EBITDA N/A
Cap/Depr 52.32%
Cap/Sales 1.82%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality 84.83%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score4
WACC9.85%
ROIC/WACCN/A
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-9.27%
EPS 3Y2.44%
EPS 5Y6%
EPS Q2Q%6.52%
EPS Next Y12.65%
EPS Next 2Y19.95%
EPS Next 3Y16.85%
EPS Next 5YN/A
Revenue 1Y (TTM)2.67%
Revenue growth 3Y32.5%
Revenue growth 5Y18.6%
Sales Q2Q%5.48%
Revenue Next Year23.61%
Revenue Next 2Y21.93%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1YN/A
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-20.22%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-19.5%
OCF growth 3YN/A
OCF growth 5YN/A