A Business at a Glance
0 of 5 daily views used (5 remaining). Sign up free for 10 daily views, or try AAPL for a full preview.
Pinnacle Financial Partners, Inc.
PNFP
$15.9B
Mkt Cap
$102.60
+2.80%
Pinnacle Financial Partners, Inc. (PNFP) has a current P/E ratio of 12.7, compared to its historical median P/E of 15.7. The stock is currently considered Fair 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 $15.9B. It is classified as a large-cap stock.
Yes, Pinnacle Financial Partners, Inc. (PNFP) pays a dividend with a trailing twelve-month yield of 0.47%.
Based on historical P/E analysis, Pinnacle Financial Partners, Inc. (PNFP) appears fair. The current P/E of 12.7 is 19% below its historical median of 15.7. The estimated fair value CAGR (P/E method) is 2.7%.
Pinnacle Financial Partners, Inc. (PNFP) operates in the National Commercial Banks industry, within the Financials sector.
Pinnacle Financial Partners is a regional financial holding company headquartered in Nashville, Tennessee (post-merger, with operations centered in Atlanta, Georgia), formed through the January 2026 merger of legacy Pinnacle Financial Partners and Synovus Financial Corp. The combined entity operates Pinnacle Bank, a member of the Federal Reserve System, with approximately $57.7 billion in total assets as of December 31, 2025, and 141 branch offices across the Southeast, including significant presence in Tennessee, North Carolina, South Carolina, Virginia, Georgia, Alabama, Kentucky, Maryland, and Florida. The company generates revenue through traditional commercial and retail banking operations—including loan origination, deposit gathering, and treasury management—supplemented by wealth management, capital markets, and fee-based services, with a notable equity method investment in Bankers Healthcare Group (BHG) contributing material non-interest income. The business model emphasizes organic growth through aggressive recruitment of revenue-producing bankers and relationship managers from competitors, particularly targeting market-share leaders in core markets, combined with disciplined credit underwriting and balance-sheet management; unit economics are characterized by net interest margin expansion through fixed-rate asset repricing and purchase accounting accretion, with deposit funding supporting loan growth and wholesale funding deployed opportunistically. The company's competitive differentiation rests on its distinctive service culture, employee engagement (ranked third among U.S. financial services firms for workplace quality), and long-standing track record of top-quartile revenue and earnings-per-share growth, enabling it to attract and retain talent at an outsized pace and build market share in concentrated regional markets.
【Merger integration and growth acceleration】 Management expects the combined company to deliver strong earnings performance in 2026 driven by continued revenue producer hiring, organic loan and deposit growth, and the realization of merger-related cost synergies. The company is targeting 250 total revenue producer hires in 2026, with approximately 35% of loan growth expected from financial advisors hired in the past three years building their books, another 35% from specialty verticals, and the remainder from legacy market growth. Management remains disciplined on capital deployment, targeting a Common Equity Tier 1 ratio of 10.25%–10.75% while prioritizing core client growth, and expects to realize approximately 40% of annualized merger-related expense savings in 2026, with 75% of total synergies expected by 2027. The company is navigating the integration while operating on two systems through the first quarter, with management expressing confidence that the Pinnacle hiring model and culture remain attractive to talent despite merger-related uncertainty.
| Metric | Target | Period |
|---|---|---|
| Total deposits growth | 8%-10% | FY2026 |
| Adjusted revenue | $5.0-$5.2 billion | FY2026 |
| Net interest margin | 3.45%-3.55% | FY2026 |
| Adjusted non-interest revenue | approximately $1.1 billion | FY2026 |
| BHG investment income | $125-$135 million | FY2026 |
| Adjusted non-interest expense | $2.7-$2.8 billion | FY2026 |
| Merger-related expense savings realization | 40% or $100 million | FY2026 |
| Net charge-offs | 20-25 basis points | FY2026 |
| Adjusted effective tax rate | approximately 20%-21% | FY2026 |
| Quarterly common equity dividend | $0.50 per share | FY2026 |
| Revenue producer hiring target |
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q2 FY2025 Earnings Call, Q1 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 |
|---|---|---|---|---|
| Revenue | 3.3B | 3.3B | 3.1B | 2.8B |
| Net Income | 627M | 627M | 460M | 547M |
| EPS | $4.04 | $4.04 | $2.98 | $3.57 |
| 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 | $0.48 | $0.48 | $0.45 | $0.45 |
| 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 | 155M | 155M | 154M | 153M |
| Metric | 2023 | |||
|---|---|---|---|---|
| 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 | 0.5% | 0.5% | 0.5% |
| 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 | 3.57 | 2.98 | 4.04 | 4.04 |
| Owner EPS | 2.65 | 5.37 | 4.37 | 4.37 |
| Book Value | N/A | 41.68 | 45.35 | 45.35 |
| Cash Flow/Share | 3.12 | 5.86 | 4.89 | 4.27 |
| Dividends/Share | 0.45 | 0.45 | 0.48 | 0.48 |
| Shares Out. | 153.2M | 154.3M | 155.3M | 155.3M |
| Valuation | ||||
| P/E Ratio | N/A | 18.9 | 12.4 | 25.4 |
| P/FCF | N/A | 21.4 | 22.9 | 23.5 |
| EV/EBIT | N/A | N/A | N/A | 16.0 |
| Price/Book | N/A | 1.3 | 1.1 | 2.3 |
| Price/Sales | N/A | 4.0 | 3.8 | 4.8 |
| FCF Yield | N/A | 9.3% | 8.7% | 4.3% |
| Market Cap | 0 | 8.7B | 7.8B | 15.9B |
| Avg. Price | 0.00 | 90.39 | 101.27 | 102.60 |
| Year-End Price | 0.00 | 112.54 | 100.30 | 102.60 |
Pinnacle Financial Partners, Inc. passes 4 of 9 quality checks, suggesting mixed fundamentals.
Pinnacle Financial Partners, Inc. trades at 12.7x trailing earnings, compared to its 15-year median P/E of 15.7x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 11.7x vs a median of 22.2x. The company's 5-year average ROIC is 8.3% with a gross margin of 83.9%. Total shareholder yield (dividends) is 0.5%. At current prices, the estimated annualized return to fair value is -1.5%.
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 $4.04 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 $45.35, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects the combined company to deliver strong earnings performance in 2026 driven by continued revenue producer hiring, organic loan and deposit growth, and the realization of merger-related cost synergies. The company is targeting 250 total revenue producer hires in 2026, with approximately 35% of loan growth expected from financial advisors hired in the past three years building their books, another 35% from specialty verticals, and the remainder from legacy market growth. Management remains disciplined on capital deployment, targeting a Common Equity Tier 1 ratio of 10.25%–10.75% while prioritizing core client growth, and expects to realize approximately 40% of annualized merger-related expense savings in 2026, with 75% of total synergies expected by 2027. The company is navigating the integration while operating on two systems through the first quarter, with management expressing confidence that the Pinnacle hiring model and culture remain attractive to talent despite merger-related uncertainty.
Based on recent SEC filings and earnings calls, Pinnacle Financial Partners, Inc. (PNFP) has provided the following forward guidance: Total deposits growth: 8%-10% (FY2026); Adjusted revenue: $5.0-$5.2 billion (FY2026); Net interest margin: 3.45%-3.55% (FY2026); Adjusted non-interest revenue: approximately $1.1 billion (FY2026); BHG investment income: $125-$135 million (FY2026), plus 6 additional metrics.
| 250 total revenue producers |
| FY2026 |
Total deposits growth (FY2026): “We expect total deposits to grow to $106.5-$108.5 billion, or up 8%-10% this year”
Adjusted revenue (FY2026): “Our adjusted revenue outlook is $5-$5.2 billion in 2026.”
Net interest margin (FY2026): “The net interest margin is estimated in the $345-$355 range”
Adjusted non-interest revenue (FY2026): “We anticipate adjusted non-interest revenue of approximately $1.1 billion this year.”
BHG investment income (FY2026): “approximately $125-$135 million in BHG investment income”
Adjusted non-interest expense (FY2026): “Adjusted non-interest expense is expected to be approximately $2.7-$2.8 billion in 2026.”
Merger-related expense savings realization (FY2026): “We expect to realize 40% or $100 million of our annualized merger-related expense savings in 2026.”
Net charge-offs (FY2026): “Net charge-offs are expected to be in the range of 20-25 basis points for the full year”