A Business at a Glance
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EQUITY BANCSHARES INC
EQBK
$929M
Mkt Cap
$50.30
+1.47%
EQUITY BANCSHARES INC (EQBK) has a current P/E ratio of 46.1, compared to its historical median P/E of 16.1. The stock is currently considered Expensive based on its historical valuation range.
EQUITY BANCSHARES INC (EQBK) has a 5-year average return on invested capital (ROIC) of 5.5%. This is below average and may indicate limited pricing power.
EQUITY BANCSHARES INC (EQBK) has a market capitalization of $929M. It is classified as a small-cap stock.
Yes, EQUITY BANCSHARES INC (EQBK) pays a dividend with a trailing twelve-month yield of 1.23%. The company also returns capital through share buybacks, with a buyback yield of 1.50%.
Based on historical P/E analysis, EQUITY BANCSHARES INC (EQBK) appears expensive. The current P/E of 46.1 is 186% above its historical median of 16.1. The estimated fair value CAGR (P/E method) is 2.5%.
EQUITY BANCSHARES INC (EQBK) operates in the State Commercial Banks industry, within the Financials sector.
EQUITY BANCSHARES INC (EQBK) reported annual revenue of $315 million in its most recent fiscal year, based on SEC EDGAR filings.
Our Company We are a financial holding company headquartered in Wichita, Kansas. Our wholly-owned banking subsidiary, Equity Bank, provides a broad range of financial services primarily to businesses and business owners as well as individuals through our network of 77 branches located in Arkansas, Kansas, Missouri and Oklahoma, as of December 31, 2025. As of December 31, 2025, we had, on a consolidated basis, total assets of $6.37 billion, total deposits of $5.14 billion, total loans (net of allowances) of $4.15 billion and total stockholders’ equity of $732.1 million. Our principal objective is to increase stockholder value and generate consistent earnings growth by expanding our commercial banking franchise both organically and through strategic acquisitions.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 315M | 315M | 336M | 228M | 224M | 190M |
| Net Income | 23M | 23M | 63M | 7.8M | 58M | 52M |
| EPS | $1.23 | $1.23 | $4.00 | $0.50 | $3.51 | $3.43 |
| Free Cash Flow | 38M | 38M | 65M | 61M | 71M | 98M |
| ROIC | 1.2% | 2.2% | 7.2% | 1.0% | 8.5% | 8.7% |
| Gross Margin | - | - | - | - | - | 87.8% |
| Debt/Equity | 0.61 | 0.61 | 0.53 | 0.85 | 0.70 | 0.40 |
| Dividends/Share | $0.62 | $0.66 | $0.54 | $0.44 | $0.36 | $0.08 |
| Operating Income | 8.1M | 8.1M | 11M | 7.6M | 9.2M | 6.2M |
| Operating Margin | 2.6% | 2.6% | 3.1% | 3.3% | 4.1% | 3.3% |
| ROE | 3.1% | 3.4% | 12.0% | 1.8% | 12.7% | 11.6% |
| Shares Outstanding | 18M | 18M | 16M | 16M | 16M | 15M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 55M | 63M | 72M | 118M | 181M | 200M | 182M | 190M | 224M | 228M | 336M | 315M | 315M |
| Gross Margin | 88.0% | 84.4% | 84.3% | 83.4% | 77.5% | 66.1% | 74.0% | 87.8% | N/A | N/A | N/A | N/A | N/A |
| 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 | 20M | 19M | 22M | 34M | 48M | 52M | 54M | 54M | 62M | 64M | 73M | 85M | 85M |
| EBIT | 1.6M | 1.4M | 1.1M | 1.9M | 2.8M | 3.6M | -75M | 6.2M | 9.2M | 7.6M | 11M | 8.1M | 8.1M |
| Op. Margin | 2.9% | 2.3% | 1.5% | 1.6% | 1.5% | 1.8% | -41.1% | 3.3% | 4.1% | 3.3% | 3.1% | 2.6% | 2.6% |
| Net Income | 8.3M | 10M | 9.4M | 21M | 36M | 26M | -75M | 52M | 58M | 7.8M | 63M | 23M | 23M |
| Net Margin | 14.9% | 16.1% | 13.0% | 17.5% | 19.8% | 12.8% | -41.3% | 27.6% | 25.7% | 3.4% | 18.7% | 7.2% | 7.2% |
| Non-Recurring | 36K | -11K | 42K | 5K | 182K | 19K | 105M | 18K | 41K | 103K | 66K | -76K | -76K |
| Returns on Capital | |||||||||||||
| ROIC | 6.4% | 7.1% | 4.4% | 6.5% | 8.6% | 5.4% | -14.6% | 8.7% | 8.5% | 1.0% | 7.2% | 2.2% | 1.2% |
| ROE | 6.4% | 7.1% | 4.4% | 6.5% | 8.6% | 5.5% | -16.9% | 11.6% | 12.7% | 1.8% | 12.0% | 3.4% | 3.1% |
| ROA | 1.4% | 0.7% | 0.5% | 0.8% | 1.0% | 0.6% | -1.9% | 1.1% | 1.1% | 0.2% | 1.2% | 0.4% | 0.4% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 14M | 14M | 16M | 28M | 37M | 49M | 44M | 103M | 74M | 77M | 74M | 51M | 51M |
| Free Cash Flow | 9.0M | 7.9M | 13M | 21M | 28M | 42M | 34M | 98M | 71M | 61M | 65M | 38M | 38M |
| Owner Earnings | 10M | 11M | 13M | 24M | 31M | 42M | 36M | 96M | 66M | 69M | 64M | 40M | 40M |
| CapEx | 4.7M | 5.7M | 2.8M | 6.9M | 8.8M | 6.9M | 9.5M | 5.1M | 3.5M | 16M | 8.5M | 13M | 13M |
| Maint. CapEx | 1.5M | 1.7M | 1.8M | 2.5M | 3.1M | 3.6M | 3.7M | 4.2M | 4.5M | 4.5M | 5.4M | 6.1M | 6.1M |
| Growth CapEx | 3.2M | 4.1M | 1.0M | 4.4M | 5.7M | 3.4M | 5.8M | 915K | 0 | 11M | 3.1M | 7.2M | 7.2M |
| D&A | 1.5M | 1.7M | 1.8M | 2.5M | 3.1M | 3.6M | 3.7M | 4.2M | 4.5M | 4.5M | 5.4M | 6.1M | 6.1M |
| CapEx/OCF | N/A | 42.1% | 18.0% | 24.9% | 24.1% | 14.3% | 21.9% | 5.0% | 4.7% | 20.4% | 11.5% | N/A | 25.8% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 804K | 164K | 42K | 0 | 0 | 0 | 0 | 1.1M | 5.6M | 6.6M | 7.9M | 11M | 11M |
| Dividend Yield | N/A | 0.1% | 0.0% | N/A | N/A | N/A | N/A | 0.3% | 1.1% | 1.7% | 1.4% | N/A | 1.2% |
| Share Buybacks | 17M | 0 | 0 | 0 | 0 | 11M | 19M | 19M | 33M | 18M | 12M | 14M | 14M |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | 2.4% | 6.4% | 3.8% | 6.6% | 3.4% | 1.8% | 0.0% | 1.5% |
| Stock-Based Comp | 2.0M | 531K | 553K | 1.1M | 2.5M | 2.9M | 3.5M | 2.9M | 3.3M | 3.2M | 4.0M | 5.6M | 5.6M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 2.3M | 16K | 0 | 0 | 0 | 1.2M | 1.2M |
| Balance Sheet | |||||||||||||
| Net Debt | -31M | -187M | -130M | -214M | -361M | -217M | -1.0B | -1.4B | -1.0B | -912M | -1.1B | -1.2B | -165M |
| Cash & Equiv. | 32M | 57M | 35M | 52M | 193M | 89M | 281M | 260M | 104M | 379M | 384M | 608M | 608M |
| Long-Term Debt | 295K | 641K | 31K | 16K | 731K | 15M | 142M | 159M | 289M | 387M | 313M | 443M | 443M |
| Debt/Equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.03 | 0.35 | 0.40 | 0.70 | 0.85 | 0.53 | 0.61 | 0.61 |
| 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 | 0.1 |
| Equity | 118M | 167M | 258M | 374M | 456M | 478M | 408M | 501M | 410M | 453M | 593M | 732M | 732M |
| Total Assets | 1.2B | 1.6B | 2.2B | 3.2B | 4.1B | 3.9B | 4.0B | 5.1B | 5.0B | 5.0B | 5.3B | 6.4B | 6.4B |
| Total Liabilities | 1.1B | 1.4B | 1.9B | 2.8B | 3.6B | 3.5B | 3.6B | 4.6B | 4.6B | 4.6B | 4.7B | 5.6B | 5.6B |
| Intangibles | 1.1M | 1.5M | 4.7M | 11M | 22M | 20M | 16M | 15M | 11M | 7.2M | 15M | 22M | 22M |
| Retained Earnings | 25M | 35M | 44M | 66M | 101M | 126M | 51M | 88M | 140M | 141M | 195M | 205M | 205M |
| 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 | 1.30 | 1.54 | 1.07 | 1.62 | 2.28 | 1.61 | -4.97 | 3.43 | 3.51 | 0.50 | 4.00 | 1.23 | 1.23 |
| Owner EPS | 1.60 | 1.74 | 1.51 | 1.89 | 1.97 | 2.65 | 2.41 | 6.25 | 4.03 | 4.40 | 4.11 | 2.15 | 2.15 |
| Book Value | 18.49 | 25.44 | 29.45 | 29.35 | 29.02 | 30.09 | 27.02 | 32.72 | 24.95 | 28.95 | 37.87 | 39.62 | 39.62 |
| Cash Flow/Share | 2.15 | 2.07 | 1.77 | 2.17 | 2.33 | 3.05 | 2.89 | 6.71 | 4.51 | 4.89 | 4.72 | 2.78 | 1.56 |
| Dividends/Share | 0.13 | 0.02 | 0.00 | N/A | N/A | N/A | N/A | 0.08 | 0.36 | 0.44 | 0.54 | 0.66 | 0.62 |
| Shares Out. | 6.4M | 6.6M | 8.8M | 12.7M | 15.7M | 15.9M | 15.1M | 15.3M | 16.4M | 15.6M | 15.7M | 18.5M | 18.5M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | 14.2 | 28.6 | 20.3 | 14.4 | 17.8 | N/A | 9.4 | 8.7 | 66.6 | 10.5 | N/A | 40.9 |
| P/FCF | N/A | 18.3 | 21.0 | 20.2 | 18.6 | 10.9 | 8.9 | 5.1 | 7.1 | 8.5 | 10.0 | N/A | 24.4 |
| EV/EBIT | N/A | 112.2 | 234.1 | 221.7 | 189.7 | 128.7 | N/A | N/A | N/A | N/A | N/A | N/A | 94.1 |
| Price/Book | N/A | 0.9 | 1.0 | 1.1 | 1.1 | 1.0 | 0.7 | 1.0 | 1.2 | 1.1 | 1.1 | N/A | 1.3 |
| Price/Sales | N/A | 2.6 | 3.2 | 3.9 | 4.0 | 2.8 | 1.7 | 2.5 | 2.5 | 2.8 | 2.5 | N/A | 3.0 |
| FCF Yield | N/A | 5.5% | 4.8% | 4.9% | 5.4% | 9.1% | 11.2% | 19.7% | 14.1% | 11.7% | 10.0% | N/A | 4.1% |
| Market Cap | N/A | 144M | 268M | 419M | 517M | 455M | 304M | 496M | 502M | 521M | 655M | 0 | 929M |
| Avg. Price | N/A | 22.45 | 22.73 | 31.04 | 36.39 | 26.76 | 17.98 | 28.32 | 30.61 | 25.34 | 36.52 | 0.00 | 50.30 |
| Year-End Price | N/A | 21.93 | 30.55 | 32.91 | 32.93 | 28.64 | 20.12 | 32.41 | 30.56 | 33.29 | 41.87 | 0.00 | 50.30 |
EQUITY BANCSHARES INC passes 3 of 9 quality checks, indicating weak fundamentals.
EQUITY BANCSHARES INC trades at 46.1x trailing earnings, compared to its 15-year median P/E of 16.1x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 13.6x vs a median of 10.0x. The company's 5-year average ROIC is 5.5% with a gross margin of 87.8%. Total shareholder yield (dividends + buybacks) is 2.7%. At current prices, the estimated annualized return to fair value is +10.7%.
EQUITY BANCSHARES INC (EQBK) has a net profit margin of 7.2%. This is a modest margin.
EQUITY BANCSHARES INC (EQBK) generated $38 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
EQUITY BANCSHARES INC (EQBK) has a debt-to-equity ratio of 0.61. This indicates moderate leverage.
EQUITY BANCSHARES INC (EQBK) reported earnings per share (EPS) of $1.23 in its most recent fiscal year.
EQUITY BANCSHARES INC (EQBK) has a return on equity (ROE) of 3.4%. This indicates moderate shareholder returns.
EQUITY BANCSHARES INC (EQBK) has a 5-year average gross margin of 87.8%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 13 years of financial data for EQUITY BANCSHARES INC (EQBK), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
EQUITY BANCSHARES INC (EQBK) has a book value per share of $39.62, based on its most recent annual SEC filing.