A Business at a Glance
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UMB FINANCIAL CORP
UMBF
$10.4B
Mkt Cap
$141.20
+1.50%
UMB FINANCIAL CORP (UMBF) has a current P/E ratio of 15.2, compared to its historical median P/E of 12.6. The stock is currently considered Fair based on its historical valuation range.
UMB FINANCIAL CORP (UMBF) has a 5-year average return on invested capital (ROIC) of 11.6%. This indicates solid capital allocation.
UMB FINANCIAL CORP (UMBF) has a market capitalization of $10.7B. It is classified as a large-cap stock.
Yes, UMB FINANCIAL CORP (UMBF) pays a dividend with a trailing twelve-month yield of 1.35%. The company also returns capital through share buybacks, with a buyback yield of 0.33%.
Based on historical P/E analysis, UMB FINANCIAL CORP (UMBF) appears fair. The current P/E of 15.2 is 20% above its historical median of 12.6. The estimated fair value CAGR (P/E method) is 10.2%.
UMB FINANCIAL CORP (UMBF) operates in the National Commercial Banks industry, within the Financials sector.
UMB FINANCIAL CORP (UMBF) reported annual revenue of $4.1 billion in its most recent fiscal year, based on SEC EDGAR filings.
UMB Financial Corporation is a bank holding company headquartered in Kansas City, Missouri, providing banking services and asset servicing to customers across the United States and globally through its national bank subsidiary and nonbank subsidiaries. The company operates three business segments—Commercial Banking, Institutional Banking, and Personal Banking—serving commercial, retail, government, and correspondent-bank customers with a full complement of products including lending, asset management, trust, bankcard, and cash-management services. A significant nonbank subsidiary, UMB Fund Services, Inc., provides fund accounting, transfer agency, and other services to mutual fund and alternative-investment groups from offices in Wisconsin, Pennsylvania, and Utah. The company's business model combines traditional commercial banking with specialized asset servicing, competing on convenience, pricing, product quality, transaction execution, and reputation while facing competition from traditional financial institutions, fintech companies, and technology firms. In January 2025, the company acquired Heartland Financial USA, Inc., expanding its geographic footprint and customer base, with the integration substantially complete by the end of the first quarter of 2026. The company's competitive position depends on its ability to attract and retain talented employees, invest in technology and infrastructure, and innovate while managing expenses effectively.
【Integration momentum and operating leverage】 Management expects to continue realizing positive operating leverage throughout 2026 despite lower contractual purchase accounting accretion benefits, with strong loan and deposit growth momentum from the Heartland acquisition integration. The company anticipates stable to slightly positive net interest margin dynamics in the near term, with benefits from fixed asset repricing and new loan yields offsetting deposit cost stability and day-count effects, while maintaining disciplined expense management with expected second-quarter operating expenses in line with consensus expectations. Management remains focused on organic growth as the top capital priority, with strong pipelines in fund services and corporate trust businesses, and expects to continue annual dividend increases while deploying capital primarily into high-quality loan origination and core deposit gathering. The company does not anticipate significant changes to charge-off levels, expecting them to remain near or below historical averages, and remains open to tuck-in acquisitions that make financial and strategic sense while maintaining a disciplined approach to capital deployment and balance sheet management.
| Metric | Target | Period |
|---|---|---|
| Effective tax rate | 20%-22% | FY2026 |
| Contractual accretion | $126 million | FY2026 |
| Contractual accretion | $92 million | FY2027 |
Effective tax rate (FY2026): “Looking ahead, our tax rate is expected to be between 20%-22% for 2026.”
Contractual accretion (FY2026): “On Slide 10 is the projected contractual accretion, which is estimated at $126 million for the full year 2026 and $92 million for 2027.”
Contractual accretion (FY2027): “On Slide 10 is the projected contractual accretion, which is estimated at $126 million for the full year 2026 and $92 million for 2027.”
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 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 2.8B | 4.1B | 2.8B | 2.4B | 1.7B | 1.3B |
| Net Income | 861M | 685M | 441M | 350M | 432M | 353M |
| EPS | $11.33 | $9.29 | $8.99 | $7.18 | $8.86 | $7.24 |
| Free Cash Flow | 981M | 978M | 205M | 450M | 718M | 500M |
| ROIC | 10.4% | 11.4% | 12.0% | 10.7% | 13.4% | 10.5% |
| Gross Margin | - | 64.0% | 62.7% | 59.7% | 84.5% | 95.0% |
| Debt/Equity | 0.06 | 0.06 | 0.26 | 0.70 | 0.14 | 0.09 |
| Dividends/Share | $1.91 | $1.63 | $1.57 | $1.53 | $1.49 | $1.38 |
| Operating Income | 89M | 83M | 67M | 53M | 32M | 43M |
| Operating Margin | 3.2% | 2.0% | 2.4% | 2.2% | 1.9% | 3.2% |
| ROE | 11.0% | 12.3% | 13.4% | 12.1% | 14.9% | 11.5% |
| Shares Outstanding | 76M | 74M | 49M | 49M | 49M | 49M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 863M | 801M | 926M | 1.0B | 1.1B | 1.3B | 1.4B | 1.3B | 1.7B | 2.4B | 2.8B | 4.1B | 2.8B |
| Gross Margin | 96.4% | 95.7% | 93.5% | 90.5% | 83.0% | 82.6% | 84.8% | 95.0% | 84.5% | 59.7% | 62.7% | 64.0% | 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 | 359M | 368M | 390M | 414M | 419M | 461M | 495M | 504M | 524M | 553M | 594M | 884M | 882M |
| EBIT | 17M | 16M | 29M | 34M | 31M | 42M | 42M | 43M | 32M | 53M | 67M | 83M | 89M |
| Op. Margin | 1.9% | 2.0% | 3.1% | 3.2% | 2.7% | 3.2% | 3.1% | 3.2% | 1.9% | 2.2% | 2.4% | 2.0% | 3.2% |
| Net Income | 121M | 116M | 159M | 247M | 196M | 244M | 287M | 353M | 432M | 350M | 441M | 685M | 861M |
| Net Margin | 14.0% | 14.5% | 17.2% | 23.7% | 17.2% | 18.9% | 20.9% | 26.6% | 25.5% | 14.7% | 15.8% | 16.5% | 30.4% |
| Non-Recurring | 3.0M | 98K | 762K | 103M | 2.7M | 374K | 797K | 2.7M | 3.1M | 4.3M | 3.2M | -105K | -105K |
| Returns on Capital | |||||||||||||
| ROIC | 7.6% | 6.4% | 7.9% | 11.5% | 8.6% | 9.8% | 9.6% | 10.5% | 13.4% | 10.7% | 12.0% | 11.4% | 10.4% |
| ROE | 7.7% | 6.6% | 8.2% | 11.9% | 8.9% | 10.1% | 10.2% | 11.5% | 14.9% | 12.1% | 13.4% | 12.3% | 11.0% |
| ROA | 0.7% | 0.6% | 0.8% | 1.2% | 0.9% | 1.0% | 1.0% | 0.9% | 1.1% | 0.8% | 0.9% | 1.1% | 1.2% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 246M | 212M | 296M | 327M | 296M | 340M | 374M | 534M | 770M | 473M | 225M | 1.0B | 1.0B |
| Free Cash Flow | 201M | 158M | 246M | 290M | 238M | 268M | 313M | 500M | 718M | 450M | 205M | 978M | 981M |
| Owner Earnings | 190M | 148M | 230M | 258M | 232M | 269M | 296M | 457M | 694M | 395M | 150M | 847M | 839M |
| CapEx | 45M | 54M | 51M | 36M | 58M | 72M | 60M | 34M | 52M | 23M | 20M | 49M | 44M |
| Maint. CapEx | 46M | 53M | 55M | 55M | 53M | 56M | 63M | 56M | 54M | 59M | 53M | 142M | 147M |
| Growth CapEx | 0 | 1.0M | 0 | 0 | 4.8M | 16M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 46M | 53M | 55M | 55M | 53M | 56M | 63M | 56M | 54M | 59M | 53M | 142M | 147M |
| CapEx/OCF | 18.4% | 25.4% | 17.2% | 11.2% | 19.5% | 21.3% | 16.1% | 6.3% | 6.7% | 5.7% | 8.9% | 4.7% | 4.3% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 41M | 46M | 49M | 52M | 58M | 59M | 60M | 67M | 72M | 74M | 77M | 136M | 145M |
| Dividend Yield | 1.9% | 2.2% | 2.0% | 1.6% | 1.8% | 2.1% | 2.4% | 1.6% | 1.7% | 2.3% | 1.7% | 1.7% | 1.4% |
| Share Buybacks | 5.7M | 8.5M | 16M | 15M | 77M | 4.5M | 64M | 5.5M | 32M | 8.4M | 7.7M | 18M | 35M |
| Buyback Yield | 0.3% | 0.4% | 0.5% | 0.5% | 2.9% | 0.1% | 2.1% | 0.1% | 0.8% | 0.2% | 0.1% | 0.2% | 0.3% |
| Stock-Based Comp | 9.7M | 11M | 12M | 13M | 11M | 15M | 15M | 21M | 21M | 19M | 23M | 38M | 38M |
| Debt Repayment | 1.6M | 11M | 12M | 1.5M | 1.7M | 4.8M | 15M | 0 | 2.1M | 31.1B | 2.3B | 200M | 200M |
| Balance Sheet | |||||||||||||
| Net Debt | -3.9B | -1.9B | -2.4B | -7.9B | -3.9B | -4.9B | -8.4B | -19.4B | -3.8B | -9.2B | -16.7B | -16.7B | -13.7B |
| Cash & Equiv. | 1.8B | 819M | 1.1B | 1.7B | 1.7B | 1.7B | 3.5B | 9.2B | 1.6B | 5.5B | 8.4B | 7.8B | 14.2B |
| Long-Term Debt | 8.8M | 86M | 77M | 79M | 83M | 70M | 270M | 272M | 381M | 383M | 385M | 474M | 477M |
| Debt/Equity | 0.01 | 0.05 | 0.04 | 0.04 | 0.04 | 0.03 | 0.09 | 0.09 | 0.14 | 0.70 | 0.26 | 0.06 | 0.06 |
| 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 | 1.6B | 1.9B | 2.0B | 2.2B | 2.2B | 2.6B | 3.0B | 3.1B | 2.7B | 3.1B | 3.5B | 7.7B | 7.8B |
| Total Assets | 17.5B | 19.1B | 20.7B | 21.8B | 23.4B | 26.6B | 33.1B | 42.7B | 38.5B | 44.0B | 50.4B | 73.1B | 72.7B |
| Total Liabilities | 15.9B | 17.2B | 18.7B | 19.6B | 21.1B | 24.0B | 30.1B | 39.5B | 35.8B | 40.9B | 46.9B | 65.4B | 64.8B |
| Intangibles | 44M | 47M | 27M | 20M | 15M | 28M | 21M | 14M | 79M | 71M | 64M | 487M | 463M |
| Retained Earnings | 964M | 1.0B | 1.1B | 1.3B | 1.5B | 1.7B | 1.9B | 2.2B | 2.5B | 2.8B | 3.2B | 3.7B | 4.0B |
| 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 | 2.65 | 2.44 | 3.22 | 4.96 | 3.93 | 4.96 | 5.93 | 7.24 | 8.86 | 7.18 | 8.99 | 9.29 | 11.33 |
| Owner EPS | 4.17 | 3.12 | 4.67 | 5.19 | 4.65 | 5.47 | 6.12 | 9.38 | 14.24 | 8.11 | 3.05 | 11.50 | 11.04 |
| Book Value | 36.10 | 39.81 | 39.79 | 43.79 | 44.79 | 53.07 | 62.44 | 64.51 | 54.74 | 63.60 | 70.63 | 104.40 | 103.02 |
| Cash Flow/Share | 5.40 | 4.45 | 6.01 | 6.55 | 5.94 | 6.92 | 7.73 | 10.95 | 15.79 | 9.69 | 4.59 | 13.93 | 13.27 |
| Dividends/Share | 0.91 | 0.95 | 0.99 | 1.04 | 1.17 | 1.21 | 1.25 | 1.38 | 1.49 | 1.53 | 1.57 | 1.63 | 1.91 |
| Shares Out. | 45.5M | 47.6M | 49.3M | 49.8M | 49.7M | 49.1M | 48.3M | 48.8M | 48.7M | 48.7M | 49.1M | 73.7M | 76.0M |
| Valuation | |||||||||||||
| P/E Ratio | 18.0 | 16.6 | 20.6 | 12.8 | 13.6 | 12.5 | 10.7 | 13.7 | 8.8 | 11.4 | 12.5 | 12.8 | 12.5 |
| P/FCF | 10.8 | 12.2 | 13.3 | 10.9 | 11.2 | 11.4 | 9.8 | 9.7 | 5.3 | 8.9 | 26.8 | 9.0 | 10.9 |
| 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 | -33.3 |
| Price/Book | 1.3 | 1.0 | 1.7 | 1.4 | 1.2 | 1.2 | 1.0 | 1.5 | 1.4 | 1.3 | 1.6 | 1.1 | 1.4 |
| Price/Sales | 2.6 | 2.4 | 2.7 | 3.2 | 3.1 | 2.6 | 1.9 | 3.3 | 2.9 | 2.2 | 2.8 | 3.0 | 3.8 |
| FCF Yield | 9.3% | 8.2% | 7.5% | 9.2% | 8.9% | 8.8% | 10.2% | 10.3% | 18.9% | 11.2% | 3.7% | 11.2% | 9.1% |
| Market Cap | 2.2B | 1.9B | 3.3B | 3.2B | 2.7B | 3.0B | 3.1B | 4.8B | 3.8B | 4.0B | 5.5B | 8.8B | 10.7B |
| Avg. Price | 48.43 | 43.65 | 48.53 | 63.24 | 63.87 | 58.52 | 50.95 | 85.66 | 86.44 | 66.18 | 92.00 | 108.75 | 141.20 |
| Year-End Price | 47.68 | 40.48 | 66.19 | 63.32 | 53.54 | 61.98 | 63.59 | 99.22 | 78.06 | 81.98 | 112.03 | 118.90 | 141.20 |
UMB FINANCIAL CORP passes 5 of 9 quality checks, suggesting mixed fundamentals.
UMB FINANCIAL CORP trades at 15.2x trailing earnings, compared to its 15-year median P/E of 12.6x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 11.0x vs a median of 10.3x. The company's 5-year average ROIC is 11.6% with a gross margin of 73.2%. Total shareholder yield (dividends + buybacks) is 1.7%. At current prices, the estimated annualized return to fair value is +8.5%.
UMB FINANCIAL CORP (UMBF) has a net profit margin of 16.5%. This is a healthy margin.
UMB FINANCIAL CORP (UMBF) generated $978 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
UMB FINANCIAL CORP (UMBF) has a debt-to-equity ratio of 0.06. This indicates a conservatively financed balance sheet.
UMB FINANCIAL CORP (UMBF) reported earnings per share (EPS) of $9.29 in its most recent fiscal year.
UMB FINANCIAL CORP (UMBF) has a return on equity (ROE) of 12.3%. This indicates moderate shareholder returns.
UMB FINANCIAL CORP (UMBF) has a 5-year average gross margin of 73.2%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 16 years of financial data for UMB FINANCIAL CORP (UMBF), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
UMB FINANCIAL CORP (UMBF) has a book value per share of $104.40, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects to continue realizing positive operating leverage throughout 2026 despite lower contractual purchase accounting accretion benefits, with strong loan and deposit growth momentum from the Heartland acquisition integration. The company anticipates stable to slightly positive net interest margin dynamics in the near term, with benefits from fixed asset repricing and new loan yields offsetting deposit cost stability and day-count effects, while maintaining disciplined expense management with expected second-quarter operating expenses in line with consensus expectations. Management remains focused on organic growth as the top capital priority, with strong pipelines in fund services and corporate trust businesses, and expects to continue annual dividend increases while deploying capital primarily into high-quality loan origination and core deposit gathering. The company does not anticipate significant changes to charge-off levels, expecting them to remain near or below historical averages, and remains open to tuck-in acquisitions that make financial and strategic sense while maintaining a disciplined approach to capital deployment and balance sheet management.
Based on recent SEC filings and earnings calls, UMB FINANCIAL CORP (UMBF) has provided the following forward guidance: Effective tax rate: 20%-22% (FY2026); Contractual accretion: $126 million (FY2026); Contractual accretion: $92 million (FY2027).
No recent press releases.