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OLD NATIONAL BANCORP (ONB) Stock Fundamental Analysis

USA - NASDAQ:ONB - US6800331075 - Common Stock

22.13 USD
-0.43 (-1.91%)
Last: 9/19/2025, 8:00:02 PM
22.13 USD
0 (0%)
After Hours: 9/19/2025, 8:00:02 PM
Fundamental Rating

4

We assign a fundamental rating of 4 out of 10 to ONB. ONB was compared to 392 industry peers in the Banks industry. Both the profitability and financial health of ONB have multiple concerns. ONB has a decent growth rate and is not valued too expensively. Finally ONB also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

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3

1. Profitability

1.1 Basic Checks

ONB had positive earnings in the past year.
ONB had a positive operating cash flow in the past year.
Each year in the past 5 years ONB has been profitable.
ONB had a positive operating cash flow in each of the past 5 years.
ONB Yearly Net Income VS EBIT VS OCF VS FCFONB Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M 400M 600M 800M

1.2 Ratios

ONB has a Return On Assets (0.78%) which is in line with its industry peers.
ONB's Return On Equity of 6.79% is on the low side compared to the rest of the industry. ONB is outperformed by 65.05% of its industry peers.
Industry RankSector Rank
ROA 0.78%
ROE 6.79%
ROIC N/A
ROA(3y)1.01%
ROA(5y)1.03%
ROE(3y)8.83%
ROE(5y)8.67%
ROIC(3y)N/A
ROIC(5y)N/A
ONB Yearly ROA, ROE, ROICONB Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2 4 6 8 10

1.3 Margins

ONB has a Profit Margin of 26.21%. This is in the better half of the industry: ONB outperforms 65.31% of its industry peers.
In the last couple of years the Profit Margin of ONB has remained more or less at the same level.
The Operating Margin and Gross Margin are not available for ONB so they could not be analyzed.
Industry RankSector Rank
OM N/A
PM (TTM) 26.21%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-6.78%
PM growth 5Y-1.32%
GM growth 3YN/A
GM growth 5YN/A
ONB Yearly Profit, Operating, Gross MarginsONB Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30

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2

2. Health

2.1 Basic Checks

ONB does not have a ROIC to compare to the WACC, probably because it is not profitable.
The number of shares outstanding for ONB has been increased compared to 1 year ago.
ONB has more shares outstanding than it did 5 years ago.
Compared to 1 year ago, ONB has an improved debt to assets ratio.
ONB Yearly Shares OutstandingONB Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M
ONB Yearly Total Debt VS Total AssetsONB Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10B 20B 30B 40B 50B

2.2 Solvency

ONB has a debt to FCF ratio of 2.95. This is a good value and a sign of high solvency as ONB would need 2.95 years to pay back of all of its debts.
ONB's Debt to FCF ratio of 2.95 is in line compared to the rest of the industry. ONB outperforms 40.56% of its industry peers.
A Debt/Equity ratio of 0.18 indicates that ONB is not too dependend on debt financing.
ONB has a Debt to Equity ratio (0.18) which is in line with its industry peers.
Industry RankSector Rank
Debt/Equity 0.18
Debt/FCF 2.95
Altman-Z N/A
ROIC/WACCN/A
WACC11.82%
ONB Yearly LT Debt VS Equity VS FCFONB Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2B 4B 6B

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
ONB Yearly Current Assets VS Current LiabilitesONB Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B

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6

3. Growth

3.1 Past

ONB shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 2.66%.
Measured over the past 5 years, ONB shows a small growth in Earnings Per Share. The EPS has been growing by 6.00% on average per year.
The Revenue has grown by 14.99% in the past year. This is quite good.
Measured over the past years, ONB shows a quite strong growth in Revenue. The Revenue has been growing by 18.60% on average per year.
EPS 1Y (TTM)2.66%
EPS 3Y2.44%
EPS 5Y6%
EPS Q2Q%15.22%
Revenue 1Y (TTM)14.99%
Revenue growth 3Y32.51%
Revenue growth 5Y18.6%
Sales Q2Q%36.08%

3.2 Future

ONB is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 17.96% yearly.
The Revenue is expected to grow by 17.71% on average over the next years. This is quite good.
EPS Next Y16.29%
EPS Next 2Y19.01%
EPS Next 3Y17.96%
EPS Next 5YN/A
Revenue Next Year33.14%
Revenue Next 2Y24.01%
Revenue Next 3Y17.71%
Revenue Next 5YN/A

3.3 Evolution

The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
ONB Yearly Revenue VS EstimatesONB Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 1B 2B 3B
ONB Yearly EPS VS EstimatesONB Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 1 2 3

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5

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 11.47, which indicates a very decent valuation of ONB.
65.56% of the companies in the same industry are more expensive than ONB, based on the Price/Earnings ratio.
Compared to an average S&P500 Price/Earnings ratio of 27.38, ONB is valued rather cheaply.
With a Price/Forward Earnings ratio of 8.40, the valuation of ONB can be described as very reasonable.
81.12% of the companies in the same industry are more expensive than ONB, based on the Price/Forward Earnings ratio.
ONB is valuated cheaply when we compare the Price/Forward Earnings ratio to 22.86, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 11.47
Fwd PE 8.4
ONB Price Earnings VS Forward Price EarningsONB Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

Based on the Price/Free Cash Flow ratio, ONB is valued a bit more expensive than the industry average as 63.01% of the companies are valued more cheaply.
Industry RankSector Rank
P/FCF 16.97
EV/EBITDA N/A
ONB Per share dataONB EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15 20

4.3 Compensation for Growth

ONB's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
ONB's earnings are expected to grow with 17.96% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.7
PEG (5Y)1.91
EPS Next 2Y19.01%
EPS Next 3Y17.96%

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9

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 6.96%, ONB is a good candidate for dividend investing.
ONB's Dividend Yield is rather good when compared to the industry average which is at 3.73. ONB pays more dividend than 94.64% of the companies in the same industry.
ONB's Dividend Yield is rather good when compared to the S&P500 average which is at 2.38.
Industry RankSector Rank
Dividend Yield 6.96%

5.2 History

The dividend of ONB has a limited annual growth rate of 3.80%.
ONB has paid a dividend for at least 10 years, which is a reliable track record.
ONB has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)3.8%
Div Incr Years0
Div Non Decr Years14
ONB Yearly Dividends per shareONB Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.1 0.2 0.3 0.4 0.5

5.3 Sustainability

37.16% of the earnings are spent on dividend by ONB. This is a low number and sustainable payout ratio.
The dividend of ONB is growing, but earnings are growing more, so the dividend growth is sustainable.
DP37.16%
EPS Next 2Y19.01%
EPS Next 3Y17.96%
ONB Yearly Income VS Free CF VS DividendONB Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M 400M 600M
ONB Dividend Payout.ONB Dividend Payout, showing the Payout Ratio.ONB Dividend Payout.PayoutRetained Earnings

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OLD NATIONAL BANCORP

NASDAQ:ONB (9/19/2025, 8:00:02 PM)

After market: 22.13 0 (0%)

22.13

-0.43 (-1.91%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)07-22 2025-07-22/bmo
Earnings (Next)10-20 2025-10-20/bmo
Inst Owners99.11%
Inst Owner Change13.01%
Ins Owners0.4%
Ins Owner Change0.28%
Market Cap8.67B
Analysts78.57
Price Target26.98 (21.92%)
Short Float %4.41%
Short Ratio5.61
Dividend
Industry RankSector Rank
Dividend Yield 6.96%
Yearly Dividend0.63
Dividend Growth(5Y)3.8%
DP37.16%
Div Incr Years0
Div Non Decr Years14
Ex-Date09-05 2025-09-05 (0.14)
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)2.92%
Min EPS beat(2)1.5%
Max EPS beat(2)4.34%
EPS beat(4)3
Avg EPS beat(4)2.48%
Min EPS beat(4)-1.26%
Max EPS beat(4)5.32%
EPS beat(8)6
Avg EPS beat(8)1.54%
EPS beat(12)9
Avg EPS beat(12)1.62%
EPS beat(16)13
Avg EPS beat(16)6.22%
Revenue beat(2)1
Avg Revenue beat(2)1.31%
Min Revenue beat(2)-0.29%
Max Revenue beat(2)2.9%
Revenue beat(4)1
Avg Revenue beat(4)0.57%
Min Revenue beat(4)-0.29%
Max Revenue beat(4)2.9%
Revenue beat(8)2
Avg Revenue beat(8)0.2%
Revenue beat(12)5
Avg Revenue beat(12)1.32%
Revenue beat(16)8
Avg Revenue beat(16)1.85%
PT rev (1m)0.69%
PT rev (3m)5.61%
EPS NQ rev (1m)0.09%
EPS NQ rev (3m)-0.81%
EPS NY rev (1m)-0.67%
EPS NY rev (3m)-0.06%
Revenue NQ rev (1m)0.17%
Revenue NQ rev (3m)-0.27%
Revenue NY rev (1m)0.08%
Revenue NY rev (3m)0.51%
Valuation
Industry RankSector Rank
PE 11.47
Fwd PE 8.4
P/S 4.12
P/FCF 16.97
P/OCF 16.11
P/B 1.07
P/tB 1.67
EV/EBITDA N/A
EPS(TTM)1.93
EY8.72%
EPS(NY)2.63
Fwd EY11.9%
FCF(TTM)1.3
FCFY5.89%
OCF(TTM)1.37
OCFY6.21%
SpS5.37
BVpS20.74
TBVpS13.22
PEG (NY)0.7
PEG (5Y)1.91
Profitability
Industry RankSector Rank
ROA 0.78%
ROE 6.79%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 26.21%
GM N/A
FCFM 24.29%
ROA(3y)1.01%
ROA(5y)1.03%
ROE(3y)8.83%
ROE(5y)8.67%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-6.78%
PM growth 5Y-1.32%
GM growth 3YN/A
GM growth 5YN/A
F-Score4
Asset Turnover0.03
Health
Industry RankSector Rank
Debt/Equity 0.18
Debt/FCF 2.95
Debt/EBITDA N/A
Cap/Depr 33.52%
Cap/Sales 1.28%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality 92.66%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score4
WACC11.82%
ROIC/WACCN/A
Cap/Depr(3y)56.18%
Cap/Depr(5y)73.31%
Cap/Sales(3y)1.96%
Cap/Sales(5y)3.12%
Profit Quality(3y)128.38%
Profit Quality(5y)114.02%
High Growth Momentum
Growth
EPS 1Y (TTM)2.66%
EPS 3Y2.44%
EPS 5Y6%
EPS Q2Q%15.22%
EPS Next Y16.29%
EPS Next 2Y19.01%
EPS Next 3Y17.96%
EPS Next 5YN/A
Revenue 1Y (TTM)14.99%
Revenue growth 3Y32.51%
Revenue growth 5Y18.6%
Sales Q2Q%36.08%
Revenue Next Year33.14%
Revenue Next 2Y24.01%
Revenue Next 3Y17.71%
Revenue Next 5YN/A
EBIT growth 1YN/A
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-7.48%
FCF growth 3Y28.09%
FCF growth 5Y24.69%
OCF growth 1Y-8.83%
OCF growth 3Y23.5%
OCF growth 5Y21.63%