Zions Bancorporation, National Association (ZION) 주식 분석

회사 개요

Zions Bancorporation, National Association is a financial institution that offers a wide array of banking products and related services, serving a diverse geographic footprint across the United States. The company operates primarily within the Financial Services sector, specifically within the Banks - Regional industry, which positions it to compete with other community and regional banks focused on localized lending and deposit gathering. Zions Bancorporation, National Association maintains a substantial market capitalization of $9.02B and generates annual revenue (TTM) of $3.31B, supported by an employee base of 9,195. These valuation and revenue figures indicate that the company holds a significant position within the regional banking landscape, reflecting a robust scale that allows for extensive branch networks and a broad suite of financial offerings in its operating states.

재무 건전성

The company reported a revenue (TTM) of $3.31B and net income (TTM) of $884.00M, while specific EBITDA figures are not disclosed in the available data. The substantial gap between the total revenue of $3.31B and the net income of $884.00M reveals a cost structure where operating expenses, including cost of funds and overhead, absorb approximately 73% of top-line earnings, which is typical for banking operations where interest income and non-interest income are balanced against significant operational costs. Although free cash flow metrics are not provided in the available facts, the analysis of liquidity focuses on the reported cash position rather than cash flow generation. The balance sheet shows a cash holding of $4.73B compared to a total debt level of $5.09B, suggesting a slightly higher debt load than liquid cash reserves at this specific point in time. The company does not report a debt-to-equity ratio or a current ratio in the available data, limiting the ability to assess leverage ratios and short-term liquidity coverage through those specific metrics. However, the return on equity stands at 13.5%, indicating that the company generates significant returns for shareholders relative to the equity invested, while the return on assets is 1.0%, which reflects the standard low-yield nature of asset-heavy banking models. The gross margin is reported as 0.0%, a standard characteristic for financial institutions where the cost of funds is typically netted against interest income rather than treated as a gross margin expense in traditional accounting. The operating margin is 38.8% and the profit margin is 27.1%, demonstrating that after covering operating expenses and taxes, the company retains a healthy portion of its revenue as net profit.

밸류에이션 평가

Zions Bancorporation, National Association carries a trailing P/E ratio (TTM) of 10.15 and a forward P/E of 9.27, implying that the market expects earnings to grow at a rate sufficient to lower the valuation multiple from the trailing period to the forward period. The price-to-book ratio is 1.27, indicating that the stock trades at a slight premium over its book value, suggesting investors value the company's intangible assets and brand beyond the tangible net asset worth. Alternative valuation metrics include a price-to-sales ratio of 2.72, while the EV/EBITDA multiple is not available for citation. The stock's 52-week trading range spans from a low of $39.42 to a high of $66.18, providing a historical context for price volatility and entry points relative to the recent price action. The beta value is 0.80, which indicates that the stock's price volatility is lower than the broader market, suggesting a defensive characteristic common among regional banking stocks during periods of market turbulence.

Growth & Income

The company demonstrates a revenue growth (YoY) of 13.6% and an earnings growth (YoY) of 31.4%, showing that earnings are expanding at a significantly faster pace than revenue, which often implies improving net interest margins or cost efficiencies driving profitability. As a dividend payer, Zions Bancorporation, National Association offers a dividend yield of 3.0% with a payout ratio of 29.3%, indicating that the dividend is well-covered by current earnings and is likely sustainable given the low payout percentage. The low payout ratio suggests the company retains a substantial portion of its earnings to bolster capital reserves or fund organic growth initiatives rather than maximizing immediate shareholder returns through dividends. Overall, the growth and income profile is characterized by strong earnings acceleration that outpaces top-line revenue growth, supported by a conservative dividend policy that preserves capital while rewarding shareholders with a competitive yield.