A Business at a Glance
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Pinnacle Financial Partners is a financial holding company headquartered in Nashville, Tennessee, with approximately $57.7 billion in total assets as of December 31, 2025. At December 31, 2025, the holding company was the parent company of Pinnacle Bank, a Tennessee state-chartered bank, and owned 100% of the capital stock of Pinnacle Bank. The firm started operations on October 27, 2000, in Nashville, Tennessee, and, as of December 31, 2025, had grown through a combination of acquisitions and organic growth to 141 offices from which it conduct branch banking operations, including 50 in Tennessee, 42 in North Carolina, 21 in South Carolina, 10 in Virginia, five in Georgia, six in Alabama, three in Kentucky, two in Maryland and two in Florida. On July 24, 2025, we entered into the Merger Agreement.
| Metric | TTM | FY2025 | FY2024 | FY2023 |
|---|---|---|---|---|
| Revenue | 3.3B | 3.3B | 3.1B | 2.8B |
| Net Income | 627M | 627M | 460M | 547M |
| EPS | $8.07 | $8.07 | $5.96 | $7.14 |
| Free Cash Flow | 679M | 679M | 810M | 400M |
| ROIC | 17.7% | 9.2% | 7.4% | - |
| Gross Margin | 59.0% | 59.0% | 96.1% | 96.6% |
| Debt/Equity | 0.02 | 0.02 | 0.00 | - |
| Dividends/Share | $0.96 | $0.96 | $0.89 | $0.90 |
| Operating Income | 780M | 780M | 581M | 714M |
| Operating Margin | 23.6% | 23.6% | 18.9% | 25.6% |
| ROE | 8.9% | 9.3% | 7.4% | - |
| Shares Outstanding | 78M | 78M | 77M | 77M |
| Metric | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|
| Income Statement | ||||
| Revenue | 2.8B | 3.1B | 3.3B | 3.3B |
| Gross Margin | 96.6% | 96.1% | 59.0% | 59.0% |
| R&D | N/A | N/A | N/A | N/A |
| SG&A | 532M | 621M | 721M | 721M |
| EBIT | 714M | 581M | 780M | 780M |
| Op. Margin | 25.6% | 18.9% | 23.6% | 23.6% |
| Net Income | 547M | 460M | 627M | 627M |
| Net Margin | 19.6% | 15.0% | 19.0% | 19.0% |
| Non-Recurring | 86M | 2.3M | 554K | 554K |
| Returns on Capital | ||||
| ROIC | N/A | 7.4% | 9.2% | 17.7% |
| ROE | N/A | 7.4% | 9.3% | 8.9% |
| ROA | N/A | 1.7% | 1.1% | 1.1% |
| Cash Flow | ||||
| Op. Cash Flow | 478M | 904M | 759M | 759M |
| Free Cash Flow | 400M | 810M | 679M | 679M |
| Owner Earnings | 406M | 828M | 679M | 679M |
| CapEx | 78M | 95M | 80M | 80M |
| Maint. CapEx | 30M | 35M | 37M | 37M |
| Growth CapEx | 48M | 59M | 43M | 43M |
| D&A | 30M | 35M | 37M | 37M |
| CapEx/OCF | N/A | 10.5% | 10.5% | 10.5% |
| Capital Allocation | ||||
| Dividends Paid | 69M | 69M | 75M | 75M |
| Dividend Yield | N/A | 1.0% | 0.9% | 1.0% |
| Share Buybacks | 0 | 0 | 0 | 0 |
| Buyback Yield | 0.0% | N/A | N/A | 0.0% |
| Stock-Based Comp | 42M | 41M | 44M | 44M |
| Debt Repayment | 311K | 384K | 337K | 337K |
| Balance Sheet | ||||
| Net Debt | -2.2B | -9.0B | -10.0B | -3.4B |
| Cash & Equiv. | 2.2B | 3.4B | 3.6B | 3.6B |
| Long-Term Debt | N/A | N/A | 133M | 133M |
| Debt/Equity | N/A | 0.00 | 0.02 | 0.02 |
| Interest Coverage | N/A | N/A | N/A | 0.6 |
| Equity | N/A | 6.4B | 7.0B | 7.0B |
| Total Assets | N/A | 52.6B | 57.7B | 57.7B |
| Total Liabilities | N/A | 46.2B | 50.7B | 50.7B |
| Intangibles | N/A | 21M | 30M | 30M |
| Retained Earnings | N/A | 3.2B | 3.7B | 3.7B |
| Working Capital | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A |
| Per Share Data | ||||
| EPS | 7.14 | 5.96 | 8.07 | 8.07 |
| Owner EPS | 5.30 | 10.73 | 8.74 | 8.74 |
| Book Value | N/A | 83.36 | 90.71 | 90.71 |
| Cash Flow/Share | 6.25 | 11.72 | 9.77 | 8.54 |
| Dividends/Share | 0.90 | 0.89 | 0.96 | 0.96 |
| Shares Out. | 76.6M | 77.2M | 77.7M | 77.7M |
| Valuation | ||||
| P/E Ratio | N/A | 18.9 | 12.4 | 11.6 |
| P/FCF | N/A | 10.7 | 11.5 | 10.7 |
| EV/EBIT | N/A | N/A | N/A | 4.9 |
| Price/Book | N/A | 1.3 | 1.1 | 1.0 |
| Price/Sales | N/A | 4.0 | 3.8 | 2.2 |
| FCF Yield | N/A | 9.3% | 8.7% | 9.3% |
| Market Cap | 0 | 8.7B | 7.8B | 7.3B |
| Avg. Price | 0.00 | 90.39 | 101.27 | 93.71 |
| Year-End Price | 0.00 | 112.54 | 100.30 | 93.71 |
Pinnacle Financial Partners, Inc. passes 4 of 9 quality checks, suggesting mixed fundamentals.
Pinnacle Financial Partners, Inc. trades at 11.6x trailing earnings, compared to its 15-year median P/E of 15.7x, suggesting it is currently Cheap relative to its historical range. On a free-cash-flow basis, the stock trades at 10.7x vs a median of 11.1x. The company's 5-year average ROIC is 8.3% with a gross margin of 83.9%. Total shareholder yield (dividends) is 1.0%. At current prices, the estimated annualized return to fair value is -1.7%.
Pinnacle Financial Partners, Inc. (PNFP) has a current P/E ratio of 11.6, compared to its historical median P/E of 15.7. The stock is currently considered Cheap based on its historical valuation range.
Pinnacle Financial Partners, Inc. (PNFP) has a 5-year average return on invested capital (ROIC) of 8.3%. This is below average and may indicate limited pricing power.
Pinnacle Financial Partners, Inc. (PNFP) has a market capitalization of $7.3B. It is classified as a mid-cap stock.
Yes, Pinnacle Financial Partners, Inc. (PNFP) pays a dividend with a trailing twelve-month yield of 1.03%.
Based on historical P/E analysis, Pinnacle Financial Partners, Inc. (PNFP) appears cheap. The current P/E of 11.6 is 26% below its historical median of 15.7. The estimated fair value CAGR (P/E method) is 3.0%.
Pinnacle Financial Partners, Inc. (PNFP) operates in the National Commercial Banks industry, within the Financials sector.
Pinnacle Financial Partners, Inc. (PNFP) reported annual revenue of $3.3 billion in its most recent fiscal year, based on SEC EDGAR filings.
Pinnacle Financial Partners, Inc. (PNFP) has a net profit margin of 19.0%. This is a healthy margin.
Pinnacle Financial Partners, Inc. (PNFP) generated $679 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Pinnacle Financial Partners, Inc. (PNFP) has a debt-to-equity ratio of 0.02. This indicates a conservatively financed balance sheet.
Pinnacle Financial Partners, Inc. (PNFP) reported earnings per share (EPS) of $8.07 in its most recent fiscal year.
Pinnacle Financial Partners, Inc. (PNFP) has a return on equity (ROE) of 9.3%. This indicates moderate shareholder returns.
Pinnacle Financial Partners, Inc. (PNFP) has a 5-year average gross margin of 83.9%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 3 years of financial data for Pinnacle Financial Partners, Inc. (PNFP), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Pinnacle Financial Partners, Inc. (PNFP) has a book value per share of $90.71, based on its most recent annual SEC filing.