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Bank of N.T. Butterfield & Son Ltd NTB

NYSE · stock · Commercial Banks, NEC · website · IPO 2016-09-16

Bank of N.T. Butterfield & Son Ltd statistics & valuation

Market cap$2.4B
P / E10.4×
P / S4.0×
P / B2.1×
Dividend yield3.22%
Net margin38.2%
Return on equity20.3%
Net cash$1.7B
Enterprise value USD$701.5M
Graham number -6.6%$59.31

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($59.31); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
28.80% 33.70% 37.70% 33.20% 29.80% 32.60% 39.00% 39.00% 37.30% 38.20% 2016201720182019202020212022202320242025
Gross margin (%)
2016201720182019202020212022202320242025
Operating margin (%)
2016201720182019202020212022202320242025
Return on equity (%)
16.30% 18.60% 22.10% 18.40% 15.00% 16.60% 24.70% 22.50% 21.20% 20.30% 2016201720182019202020212022202320242025
Shares outstanding
53.3M 54.7M 55.4M 53.0M 50.0M 49.9M 50.3M 47.5M 43.5M 39.9M 2016201720182019202020212022202320242025
Net debt ($)
-$1.98B -$1.42B -$1.91B -$2.41B -$3.12B -$2.01B -$1.93B -$1.55B -$1.90B -$1.71B 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
1.00% 1.40% 1.80% 1.30% 1.00% 1.10% 1.50% 1.70% 1.50% 1.60% 2016201720182019202020212022202320242025
Free cash flow margin (%)
2016201720182019202020212022202320242025
Debt / equity (×)
0.16× 0.14× 0.16× 0.15× 0.17× 0.18× 0.20× 0.10× 0.10× 0.00× 2016201720182019202020212022202320242025
EPS ($)
$1.18 $2.76 $3.50 $3.30 $2.90 $3.26 $4.29 $4.58 $4.71 $5.47 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

Bank of N.T. Butterfield & Son Ltd trades at about 11.6× earnings — above its 10-year norm (10-year range 6.6×–27.9×, median 10.1×).

6.6× 27.9×

Shaded band = 10-year range (6.6×–27.9×); dot = today's 11.6×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Net margin38.2%37.3%39.0%39.0%32.6%29.8%33.2%37.7%33.7%28.8%
Return on assets1.6%1.5%1.7%1.5%1.1%1.0%1.3%1.8%1.4%1.0%
Return on equity20.3%21.2%22.5%24.7%16.6%15.0%18.4%22.1%18.6%16.3%
Debt / equity0.00×0.10×0.10×0.20×0.18×0.17×0.15×0.16×0.14×0.16×

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.