A Business at a Glance
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Customers Bancorp, Inc.
CUBB
$744M
Mkt Cap
$22.25
-1.02%
Customers Bancorp, Inc. (CUBB) has a current P/E ratio of 3.6, compared to its historical median P/E of 3.5. The stock is currently considered Fair based on its historical valuation range.
Customers Bancorp, Inc. (CUBB) has a 5-year average return on invested capital (ROIC) of 12.0%. This indicates solid capital allocation.
Customers Bancorp, Inc. (CUBB) has a market capitalization of $744M. It is classified as a small-cap stock.
Yes, Customers Bancorp, Inc. (CUBB) pays a dividend with a trailing twelve-month yield of 1.45%. The company also returns capital through share buybacks, with a buyback yield of 0.76%.
Based on historical P/E analysis, Customers Bancorp, Inc. (CUBB) appears fair. The current P/E of 3.6 is 1% above its historical median of 3.5. The estimated fair value CAGR (P/E method) is 10.2%.
Customers Bancorp, Inc. (CUBB) operates in the State Commercial Banks industry, within the Financials sector.
Customers Bancorp, Inc. (CUBB) reported annual revenue of $1.4 billion in its most recent fiscal year, based on SEC EDGAR filings.
Customers Bancorp is a bank holding company engaged in banking activities through its wholly owned subsidiary, Customers Bank, collectively referred to as “Customers” herein. Customers is a forward-thinking bank with strong risk management that provides commercial and consumer customers the stability and trust inherent in working with an established and regulated financial institution. The Bank has diversified lending activities that build overall franchise value and a high-tech, high-touch, branch-light strategy that serves its customers through a single-point-of-contact private banking strategy. The Bank serves commercial businesses, through community, SBA, and private client groups.
| Segment | 2018 | 2019 | 2020 | 2021 | 2022 | % of Total |
|---|---|---|---|---|---|---|
Deposit fees | $8M | $2M | $3M | $4M | $4M | 94% |
Interchange and card revenue | $31M | $1M | $1M | $0M | $0M | 6% |
University fees - subscription revenue | $4M | $4M | $4M | — | — | — |
University fees - card and disbursement fees | $1M | $1M | $1M | — | — | — |
Interchange And Card Revenue, Difference Between Regulated And Unregulated Interchange Rates | — | — | $6M | — | — | — |
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 1.4B | 1.4B | 1.4B | 1.4B | 918M | 859M |
| Net Income | 209M | 209M | 166M | 235M | 218M | 300M |
| EPS | $6.26 | $6.26 | $5.09 | $7.32 | $6.51 | $8.91 |
| Free Cash Flow | 334M | 334M | 80M | 83M | -134M | 263M |
| ROIC | 9.9% | 10.6% | 9.5% | 15.4% | 15.7% | 8.7% |
| Gross Margin | 55.4% | 55.4% | 51.3% | 54.7% | 64.9% | 85.6% |
| Debt/Equity | 0.00 | 0.00 | 0.06 | 0.00 | 0.22 | 0.57 |
| Dividends/Share | $0.32 | $0.32 | $0.46 | $0.46 | $0.28 | $0.32 |
| Operating Income | 22M | 22M | 10M | 331M | 291M | 441M |
| Operating Margin | 1.6% | 1.6% | 0.7% | 23.0% | 31.7% | 51.4% |
| ROE | 9.9% | 10.6% | 9.6% | 15.5% | 15.8% | 24.2% |
| Shares Outstanding | 33M | 33M | 33M | 32M | 34M | 34M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 216M | 278M | 379M | 452M | 477M | 499M | 607M | 859M | 918M | 1.4B | 1.4B | 1.4B | 1.4B |
| Gross Margin | 75.3% | 73.3% | 79.9% | 75.1% | 65.3% | 61.3% | 66.7% | 85.6% | 64.9% | 54.7% | 51.3% | 55.4% | 55.4% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 46M | 59M | 81M | 96M | 105M | 80M | 94M | 108M | 112M | 133M | 176M | 189M | 189M |
| EBIT | 3.5M | 4.1M | 9.9M | 9.2M | 17M | 108M | 190M | 441M | 291M | 331M | 10M | 22M | 22M |
| Op. Margin | 1.6% | 1.5% | 2.6% | 2.0% | 3.5% | 21.6% | 31.3% | 51.4% | 31.7% | 23.0% | 0.7% | 1.6% | 1.6% |
| Net Income | 43M | 56M | 69M | 64M | 57M | 65M | 119M | 300M | 218M | 235M | 166M | 209M | 209M |
| Net Margin | 20.0% | 20.2% | 18.3% | 14.3% | 12.0% | 13.0% | 19.5% | 35.0% | 23.8% | 16.4% | 12.0% | 14.7% | 14.7% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.4M | 124K | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 6.9% | 7.1% | 7.5% | 6.5% | 6.1% | 5.5% | 3.4% | 8.7% | 15.7% | 15.4% | 9.5% | 10.6% | 9.9% |
| ROE | 10.4% | 11.3% | 9.8% | 7.2% | 6.1% | 6.5% | 10.9% | 24.2% | 15.8% | 15.5% | 9.6% | 10.6% | 9.9% |
| ROA | 0.8% | 0.7% | 0.8% | 0.7% | 0.6% | 0.6% | 0.8% | 1.6% | 1.1% | 1.1% | 0.8% | 0.9% | 0.8% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 542M | 357M | 91M | 62M | 97M | 78M | 133M | 296M | -21M | 125M | 145M | 495M | 495M |
| Free Cash Flow | 541M | 354M | 86M | 38M | 58M | 28M | 104M | 263M | -134M | 83M | 80M | 334M | 334M |
| Owner Earnings | 527M | 347M | 70M | 38M | 69M | 47M | 98M | 260M | -55M | 90M | 106M | 448M | 448M |
| CapEx | 1.3M | 2.9M | 5.4M | 24M | 39M | 50M | 29M | 33M | 113M | 41M | 65M | 161M | 161M |
| Maint. CapEx | 10M | 4.0M | 15M | 17M | 19M | 22M | 22M | 22M | 20M | 22M | 25M | 28M | 28M |
| Growth CapEx | 0 | 0 | 0 | 7.3M | 20M | 28M | 7.0M | 11M | 93M | 19M | 41M | 133M | 133M |
| D&A | 10M | 4.0M | 15M | 17M | 19M | 22M | 22M | 22M | 20M | 22M | 25M | 28M | 28M |
| CapEx/OCF | N/A | N/A | N/A | N/A | N/A | 64.2% | 21.6% | 11.1% | N/A | 33.1% | 44.9% | 32.6% | 32.6% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 2.3M | 9.1M | 14M | 14M | 14M | 14M | 11M | 9.3M | 15M | 15M | 11M | 11M |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | 2.7% | 2.8% | 1.6% | 1.5% | 2.9% | 2.6% | 1.6% | 1.5% |
| Share Buybacks | 0 | 0 | 0 | 0 | 13M | 571K | 0 | 28M | 33M | 40M | 19M | 5.6M | 5.6M |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | 0.1% | N/A | 4.0% | 5.9% | 7.3% | 3.1% | 0.8% | 0.8% |
| Stock-Based Comp | 5.2M | 5.7M | 7.1M | 7.2M | 9.7M | 9.9M | 13M | 14M | 14M | 13M | 14M | 18M | 18M |
| Debt Repayment | 634M | 18M | 0 | 0 | 63M | 748M | 0 | 150M | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | 855M | 890M | 209M | 1.2B | 710M | 598M | 3.6B | 257M | -143M | -3.8B | -3.7B | -4.4B | -4.4B |
| Cash & Equiv. | 371M | 265M | 265M | 146M | 62M | 213M | 693M | 518M | 456M | 3.8B | 3.8B | 4.4B | 4.4B |
| Long-Term Debt | 320M | 260M | 180M | 10M | 0 | 350M | 4.4B | 0 | 13M | 6.4M | 5.7M | 5.0M | 5.0M |
| Debt/Equity | 3.65 | 3.06 | 1.11 | 1.93 | 1.50 | 1.32 | 4.94 | 0.57 | 0.22 | 0.00 | 0.06 | 0.00 | 0.00 |
| Interest Coverage | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0 |
| Equity | 443M | 554M | 856M | 921M | 957M | 1.1B | 1.1B | 1.4B | 1.4B | 1.6B | 1.8B | 2.1B | 2.1B |
| Total Assets | 6.8B | 8.4B | 9.4B | 9.8B | 9.8B | 11.5B | 18.4B | 19.6B | 20.9B | 21.3B | 22.3B | 24.9B | 24.9B |
| Total Liabilities | 6.4B | 7.8B | 8.5B | 8.9B | 8.9B | 10.5B | 17.3B | 18.2B | 19.5B | 19.7B | 20.5B | 22.8B | 22.8B |
| Intangibles | N/A | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Retained Earnings | 68M | 125M | 194M | 258M | 317M | 382M | 439M | 706M | 924M | 1.2B | 1.3B | 1.5B | 1.5B |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Per Share Data | |||||||||||||
| EPS | 1.55 | 1.96 | 2.31 | 1.97 | 1.78 | 2.05 | 3.74 | 8.91 | 6.51 | 7.32 | 5.09 | 6.26 | 6.26 |
| Owner EPS | 18.90 | 12.13 | 2.33 | 1.16 | 2.13 | 1.48 | 3.10 | 7.71 | -1.65 | 2.79 | 3.24 | 13.41 | 13.41 |
| Book Value | 15.89 | 19.36 | 28.58 | 28.18 | 29.76 | 33.27 | 35.25 | 40.56 | 41.82 | 50.94 | 56.17 | 63.31 | 63.31 |
| Cash Flow/Share | 19.46 | 12.46 | 3.05 | 1.90 | 3.03 | 2.47 | 4.20 | 8.77 | -0.62 | 3.88 | 4.44 | 14.81 | 7.11 |
| Dividends/Share | 0.00 | 0.08 | 0.30 | 0.44 | 0.45 | 0.46 | 0.44 | 0.32 | 0.28 | 0.46 | 0.46 | 0.32 | 0.32 |
| Shares Out. | 27.9M | 28.6M | 30.0M | 32.7M | 32.2M | 31.6M | 31.7M | 33.7M | 33.5M | 32.2M | 32.7M | 33.4M | 33.4M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | 8.5 | 4.9 | 2.3 | 2.6 | 2.3 | 3.7 | 3.5 | 3.6 |
| P/FCF | N/A | N/A | N/A | N/A | N/A | 19.4 | 5.6 | 2.6 | N/A | 6.5 | 7.7 | 2.2 | 2.2 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | 112.2 | N/A | N/A | N/A | N/A | N/A | N/A | -165.1 |
| Price/Book | N/A | N/A | N/A | N/A | N/A | 0.5 | 0.5 | 0.5 | 0.4 | 0.3 | 0.3 | 0.3 | 0.4 |
| Price/Sales | N/A | N/A | N/A | N/A | N/A | 1.5 | 1.1 | 0.9 | 0.9 | 0.7 | 0.8 | 0.8 | 0.5 |
| FCF Yield | N/A | N/A | N/A | N/A | N/A | 5.1% | 17.8% | 37.9% | -23.9% | 15.3% | 13.1% | 45.2% | 44.9% |
| Market Cap | N/A | N/A | N/A | N/A | N/A | 548M | 585M | 692M | 562M | 544M | 611M | 738M | 744M |
| Avg. Price | N/A | N/A | N/A | N/A | N/A | 17.20 | 16.03 | 19.84 | 18.19 | 15.94 | 18.05 | 19.79 | 22.25 |
| Year-End Price | N/A | N/A | N/A | N/A | N/A | 17.32 | 18.44 | 20.54 | 16.74 | 16.92 | 18.70 | 22.08 | 22.25 |
Customers Bancorp, Inc. passes 5 of 9 quality checks, suggesting mixed fundamentals.
Customers Bancorp, Inc. trades at 3.6x trailing earnings, compared to its 15-year median P/E of 3.5x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 1.6x vs a median of 6.1x. The company's 5-year average ROIC is 12.0% with a gross margin of 62.4%. Total shareholder yield (dividends + buybacks) is 2.2%. At current prices, the estimated annualized return to fair value is +12.3%.
Customers Bancorp, Inc. (CUBB) has a net profit margin of 14.7%. This is a healthy margin.
Customers Bancorp, Inc. (CUBB) generated $334 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Customers Bancorp, Inc. (CUBB) has a debt-to-equity ratio of 0.00. This indicates a conservatively financed balance sheet.
Customers Bancorp, Inc. (CUBB) reported earnings per share (EPS) of $6.26 in its most recent fiscal year.
Customers Bancorp, Inc. (CUBB) has a return on equity (ROE) of 10.6%. This indicates moderate shareholder returns.
Customers Bancorp, Inc. (CUBB) has a 5-year average gross margin of 62.4%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 17 years of financial data for Customers Bancorp, Inc. (CUBB), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Customers Bancorp, Inc. (CUBB) has a book value per share of $63.31, based on its most recent annual SEC filing.