A Business at a Glance
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Live Oak Bancshares, Inc.
LOB
$1.9B
Mkt Cap
$42.08
-1.34%
Live Oak Bancshares, Inc. (LOB) has a current P/E ratio of 18.9, compared to its historical median P/E of 23.4. The stock is currently considered Fair based on its historical valuation range.
Live Oak Bancshares, Inc. (LOB) has a 5-year average return on invested capital (ROIC) of 15.0%. This indicates strong capital allocation and a potential competitive advantage.
Live Oak Bancshares, Inc. (LOB) has a market capitalization of $2.0B. It is classified as a small-cap stock.
Yes, Live Oak Bancshares, Inc. (LOB) pays a dividend with a trailing twelve-month yield of 0.28%.
Based on historical P/E analysis, Live Oak Bancshares, Inc. (LOB) appears fair. The current P/E of 18.9 is 19% below its historical median of 23.4. The estimated fair value CAGR (P/E method) is 9.8%.
Live Oak Bancshares, Inc. (LOB) operates in the State Commercial Banks industry, within the Financials sector.
Live Oak Bancshares, Inc. (LOB) reported annual revenue of $1.0 billion in its most recent fiscal year, based on SEC EDGAR filings.
Live Oak Bancshares, Inc. (individually, “Bancshares” and collectively with its subsidiaries including Live Oak Banking Company, the “Company,” also referred to as “our” and “we”), headquartered in Wilmington, North Carolina, is the bank holding company for Live Oak Banking Company (the “Bank” or “Live Oak Bank”). The Bank was incorporated in February 2008 as a North Carolina-chartered commercial bank and operates an established national online platform for small business lending and deposit gathering. Bancshares was incorporated under the laws of the state of North Carolina on December 18, 2008, for the purpose of serving as the bank holding company of Live Oak Bank. Bancshares completed its initial public offering (“IPO”) in July 2015. The Company The Company predominantly originates loans partially guaranteed by the U.S.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 597M | 1.0B | 925M | 792M | 682M | 521M |
| Net Income | 121M | 103M | 77M | 74M | 176M | 167M |
| EPS | $2.63 | $2.23 | $1.69 | $1.64 | $3.92 | $3.71 |
| Free Cash Flow | 126M | 143M | 107M | 138M | -344M | -123M |
| ROIC | 0.0% | 9.1% | 8.1% | 8.6% | 23.1% | 26.0% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 0.00 | 0.00 | 0.00 | 6.96 | 6.02 | 10.49 |
| Dividends/Share | $0.12 | $0.12 | $0.12 | $0.12 | $0.12 | $0.12 |
| Operating Income | 0 | 143M | 89M | 83M | 210M | 211M |
| Operating Margin | 0.0% | 13.8% | 9.6% | 10.5% | 30.8% | 40.4% |
| ROE | 9.5% | 9.1% | 8.1% | 8.6% | 23.1% | 26.0% |
| Shares Outstanding | 47M | 46M | 46M | 45M | 45M | 45M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 81M | 119M | 151M | 276M | 259M | 291M | 374M | 521M | 682M | 792M | 925M | 1.0B | 597M |
| Gross Margin | 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 |
| 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 | 29M | 40M | 63M | 75M | 77M | 91M | 113M | 125M | 171M | 169M | 175M | 189M | 191M |
| EBIT | 17M | 34M | 17M | 98M | 46M | 23M | 47M | 211M | 210M | 83M | 89M | 143M | 0 |
| Op. Margin | 21.6% | 29.0% | 11.4% | 35.5% | 17.8% | 8.0% | 12.7% | 40.4% | 30.8% | 10.5% | 9.6% | 13.8% | 0.0% |
| Net Income | 10M | 21M | 14M | 100M | 51M | 18M | 60M | 167M | 176M | 74M | 77M | 103M | 121M |
| Net Margin | 12.5% | 17.4% | 9.1% | 36.4% | 19.9% | 6.2% | 15.9% | 32.0% | 25.8% | 9.3% | 8.4% | 9.9% | 20.3% |
| Non-Recurring | 256K | -17K | 0 | 7.1M | 2.6M | -109K | 1.2M | 952K | -31K | 374K | 136K | -3.7M | -3.7M |
| Returns on Capital | |||||||||||||
| ROIC | 11.0% | 11.4% | 5.8% | 28.1% | 10.8% | 3.5% | 10.8% | 26.0% | 23.1% | 8.6% | 8.1% | 9.1% | 0.0% |
| ROE | 14.3% | 14.2% | 6.5% | 30.5% | 11.1% | 3.5% | 10.8% | 26.0% | 23.1% | 8.6% | 8.1% | 9.1% | 9.5% |
| ROA | 3.0% | 2.4% | 1.0% | 4.5% | 1.6% | 0.4% | 0.9% | 2.1% | 2.0% | 0.7% | 0.6% | 0.7% | 0.8% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 262M | 335M | 222M | 288M | 6.3M | 483M | -261M | -120M | -301M | 185M | 157M | 158M | 141M |
| Free Cash Flow | 247M | 304M | 211M | 163M | -105M | 445M | -282M | -123M | -344M | 138M | 107M | 143M | 126M |
| Owner Earnings | 258M | 330M | 213M | 267M | -22M | 436M | -367M | -160M | -326M | 157M | 125M | 120M | -1.6M |
| CapEx | 14M | 30M | 11M | 124M | 111M | 37M | 21M | 3.1M | 44M | 47M | 49M | 15M | 15M |
| Maint. CapEx | 3.1M | 4.7M | 8.9M | 16M | 27M | 46M | 56M | 21M | 21M | 21M | 23M | 30M | 134M |
| Growth CapEx | 11M | 26M | 2.0M | 108M | 84M | 0 | 0 | 0 | 23M | 26M | 26M | 0 | 0 |
| D&A | 3.1M | 4.7M | 8.9M | 16M | 27M | 46M | 56M | 21M | 21M | 21M | 23M | 30M | 134M |
| CapEx/OCF | N/A | N/A | N/A | N/A | 966.3% | N/A | N/A | N/A | 35.1% | 26.4% | 31.4% | 9.3% | 10.3% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 44M | 2.7M | 2.7M | 3.8M | 4.8M | 4.8M | 4.9M | 5.2M | 5.3M | 5.3M | 5.4M | 5.5M | 5.5M |
| Dividend Yield | N/A | 0.5% | 0.5% | 0.4% | 0.5% | 0.7% | 0.5% | 0.2% | 0.3% | 0.4% | 0.3% | 0.4% | 0.3% |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | 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% |
| Stock-Based Comp | 143K | 0 | 0 | 4.9M | 756K | 409K | 49M | 19M | 5.0M | 6.7M | 8.9M | 7.6M | 8.4M |
| Debt Repayment | 2.4M | 26M | 532K | 26M | 25M | 1.4M | 286M | 1.8B | 297M | 3.0B | 10M | 11M | 11M |
| Balance Sheet | |||||||||||||
| Net Debt | 18M | -96M | -279M | -362M | -696M | -761M | N/A | N/A | 4.5B | 5.7B | -609M | -865M | -864M |
| Cash & Equiv. | 30M | 73M | 238M | 295M | 317M | 221M | 318M | 204M | 417M | 583M | 609M | 865M | 864M |
| Long-Term Debt | 42M | 28M | 28M | 27M | 16K | N/A | N/A | N/A | N/A | 0 | 131K | 83K | 83K |
| Debt/Equity | 0.52 | 0.14 | 0.12 | 0.06 | 0.00 | 0.00 | 12.86 | 10.49 | 6.02 | 6.96 | 0.00 | 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 | N/A |
| Equity | 92M | 199M | 223M | 437M | 494M | 532M | 568M | 715M | 811M | 903M | 999M | 1.2B | 1.3B |
| Total Assets | 673M | 1.1B | 1.8B | 2.8B | 3.7B | 4.8B | 7.9B | 8.2B | 9.9B | 11.3B | 12.9B | 15.1B | 15.3B |
| Total Liabilities | 582M | 853M | 1.5B | 2.3B | 3.2B | 4.3B | 7.3B | 7.5B | 9.0B | 10.4B | 11.9B | 13.9B | 14.0B |
| Intangibles | N/A | N/A | N/A | 4.3M | 0 | 0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | -6.9M | 12M | 24M | 120M | 167M | 180M | 236M | 401M | 572M | 643M | 716M | 810M | 836M |
| 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 | 0.41 | 0.65 | 0.39 | 2.65 | 1.24 | 0.44 | 1.43 | 3.71 | 3.92 | 1.64 | 1.69 | 2.23 | 2.63 |
| Owner EPS | 10.54 | 10.40 | 6.03 | 7.04 | -0.52 | 10.63 | -8.80 | -3.56 | -7.26 | 3.48 | 2.72 | 2.61 | -0.04 |
| Book Value | 3.75 | 6.29 | 6.31 | 11.52 | 11.90 | 12.99 | 13.64 | 15.89 | 18.04 | 20.03 | 21.79 | 27.11 | 27.47 |
| Cash Flow/Share | 10.67 | 10.55 | 6.28 | 7.58 | 0.15 | 11.77 | -6.27 | -2.66 | -6.69 | 4.10 | 3.42 | 3.43 | 5.48 |
| Dividends/Share | 1.79 | 0.09 | 0.07 | 0.10 | 0.12 | 0.12 | 0.12 | 0.12 | 0.12 | 0.12 | 0.12 | 0.12 | 0.12 |
| Shares Out. | 24.5M | 31.7M | 35.3M | 37.9M | 41.5M | 41.0M | 41.6M | 45.0M | 45.0M | 45.1M | 45.8M | 46.1M | 46.5M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | 21.3 | 46.7 | 8.7 | 11.6 | 42.4 | 33.4 | 23.6 | 7.5 | 28.2 | 23.3 | 15.8 | 16.0 |
| P/FCF | N/A | 1.4 | 3.0 | 5.3 | N/A | 1.7 | N/A | N/A | N/A | 15.1 | 16.8 | 11.3 | 15.5 |
| EV/EBIT | 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 |
| Price/Book | N/A | 2.2 | 2.9 | 2.0 | 1.2 | 1.4 | 3.5 | 5.5 | 1.6 | 2.3 | 1.8 | 1.3 | 1.5 |
| Price/Sales | N/A | 4.8 | 3.7 | 3.4 | 5.0 | 3.3 | 3.2 | 6.2 | 3.5 | 2.9 | 3.8 | 2.6 | 3.3 |
| FCF Yield | N/A | 69.2% | 32.8% | 18.7% | -17.6% | 58.3% | -14.2% | -3.1% | -25.9% | 6.6% | 6.0% | 8.8% | 6.4% |
| Market Cap | N/A | 440M | 643M | 873M | 596M | 764M | 2.0B | 3.9B | 1.3B | 2.1B | 1.8B | 1.6B | 2.0B |
| Avg. Price | N/A | 16.62 | 14.22 | 22.30 | 25.46 | 16.64 | 21.62 | 63.11 | 43.42 | 29.86 | 40.36 | 32.02 | 42.08 |
| Year-End Price | N/A | 13.85 | 18.20 | 23.02 | 14.37 | 18.64 | 47.83 | 87.57 | 29.59 | 46.20 | 39.29 | 35.21 | 42.08 |
Live Oak Bancshares, Inc. passes 4 of 9 quality checks, suggesting mixed fundamentals.
Live Oak Bancshares, Inc. trades at 18.9x trailing earnings, compared to its 15-year median P/E of 23.4x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 13.6x vs a median of 8.3x. The company's 5-year average ROIC is 15.0%. Total shareholder yield (dividends) is 0.3%. At current prices, the estimated annualized return to fair value is +64.5%.
Live Oak Bancshares, Inc. (LOB) has a net profit margin of 9.9%. This is a modest margin.
Live Oak Bancshares, Inc. (LOB) generated $143 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Live Oak Bancshares, Inc. (LOB) has a debt-to-equity ratio of 0.00. This indicates a conservatively financed balance sheet.
Live Oak Bancshares, Inc. (LOB) reported earnings per share (EPS) of $2.23 in its most recent fiscal year.
Live Oak Bancshares, Inc. (LOB) has a return on equity (ROE) of 9.1%. This indicates moderate shareholder returns.
The Ledger Terminal provides 13 years of financial data for Live Oak Bancshares, Inc. (LOB), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Live Oak Bancshares, Inc. (LOB) has a book value per share of $27.11, based on its most recent annual SEC filing.