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OLD NATIONAL BANCORP (ONB) Stock Fundamental Analysis

NASDAQ:ONB - Nasdaq - US6800331075 - Common Stock - Currency: USD

19.025  -0.57 (-2.88%)

Fundamental Rating

4

Overall ONB gets a fundamental rating of 4 out of 10. We evaluated ONB against 398 industry peers in the Banks industry. While ONB is still in line with the averages on profitability rating, there are concerns on its financial health. ONB has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

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4

1. Profitability

1.1 Basic Checks

In the past year ONB was profitable.
ONB had a positive operating cash flow in the past year.
ONB had positive earnings in each of the past 5 years.
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 better Return On Assets (0.98%) than 65.33% of its industry peers.
ONB has a Return On Equity of 8.25%. This is comparable to the rest of the industry: ONB outperforms 49.75% of its industry peers.
Industry RankSector Rank
ROA 0.98%
ROE 8.25%
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 27.74%. This is in the better half of the industry: ONB outperforms 74.37% 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) 27.74%
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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3

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.
Compared to 5 years ago, ONB has more shares outstanding
The debt/assets ratio for ONB has been reduced compared to a year ago.
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 1.62. This is a very positive value and a sign of high solvency as it would only need 1.62 years to pay back of all of its debts.
ONB has a Debt to FCF ratio of 1.62. This is in the better half of the industry: ONB outperforms 61.31% of its industry peers.
ONB has a Debt/Equity ratio of 0.13. This is a healthy value indicating a solid balance between debt and equity.
ONB's Debt to Equity ratio of 0.13 is fine compared to the rest of the industry. ONB outperforms 67.34% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.13
Debt/FCF 1.62
Altman-Z N/A
ROIC/WACCN/A
WACC12.5%
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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5

3. Growth

3.1 Past

ONB shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -9.27%.
ONB shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 6.00% yearly.
Looking at the last year, ONB shows a small growth in Revenue. The Revenue has grown by 2.67% in the last year.
ONB shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 18.60% yearly.
EPS 1Y (TTM)-9.27%
EPS 3Y2.44%
EPS 5Y6%
EPS Q2Q%6.52%
Revenue 1Y (TTM)2.67%
Revenue growth 3Y32.51%
Revenue growth 5Y18.6%
Sales Q2Q%5.48%

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 15.72% yearly.
ONB is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 16.64% yearly.
EPS Next Y14.26%
EPS Next 2Y19.44%
EPS Next 3Y15.72%
EPS Next 5YN/A
Revenue Next Year27.67%
Revenue Next 2Y23.86%
Revenue Next 3Y16.64%
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.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
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 0.5 1 1.5 2 2.5

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5

4. Valuation

4.1 Price/Earnings Ratio

ONB is valuated reasonably with a Price/Earnings ratio of 10.23.
ONB's Price/Earnings ratio is a bit cheaper when compared to the industry. ONB is cheaper than 60.80% of the companies in the same industry.
When comparing the Price/Earnings ratio of ONB to the average of the S&P500 Index (28.29), we can say ONB is valued rather cheaply.
ONB is valuated reasonably with a Price/Forward Earnings ratio of 8.95.
ONB's Price/Forward Earnings is on the same level as the industry average.
The average S&P500 Price/Forward Earnings ratio is at 21.32. ONB is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 10.23
Fwd PE 8.95
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

Compared to the rest of the industry, the Price/Free Cash Flow ratio of ONB is on the same level as its industry peers.
Industry RankSector Rank
P/FCF 10.26
EV/EBITDA N/A
ONB Per share dataONB EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15

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 15.72% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.72
PEG (5Y)1.71
EPS Next 2Y19.44%
EPS Next 3Y15.72%

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6

5. Dividend

5.1 Amount

ONB has a Yearly Dividend Yield of 2.86%.
ONB's Dividend Yield is comparable with the industry average which is at 3.66.
ONB's Dividend Yield is comparable with the S&P500 average which is at 2.51.
Industry RankSector Rank
Dividend Yield 2.86%

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 their dividend for at least 10 years, which is a reliable track record.
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

ONB pays out 36.55% of its income as dividend. This is a sustainable payout ratio.
The dividend of ONB is growing, but earnings are growing more, so the dividend growth is sustainable.
DP36.55%
EPS Next 2Y19.44%
EPS Next 3Y15.72%
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 (4/21/2025, 2:23:43 PM)

19.025

-0.57 (-2.88%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)01-21 2025-01-21/bmo
Earnings (Next)04-22 2025-04-22/bmo
Inst Owners95.85%
Inst Owner Change0.1%
Ins Owners0.43%
Ins Owner Change4.93%
Market Cap6.07B
Analysts80
Price Target28.28 (48.65%)
Short Float %12.36%
Short Ratio12.72
Dividend
Industry RankSector Rank
Dividend Yield 2.86%
Yearly Dividend0.63
Dividend Growth(5Y)3.8%
DP36.55%
Div Incr Years0
Div Non Decr Years14
Ex-Date03-05 2025-03-05 (0.14)
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)2.03%
Min EPS beat(2)-1.26%
Max EPS beat(2)5.32%
EPS beat(4)3
Avg EPS beat(4)2.59%
Min EPS beat(4)-1.26%
Max EPS beat(4)5.32%
EPS beat(8)6
Avg EPS beat(8)1.91%
EPS beat(12)9
Avg EPS beat(12)3.87%
EPS beat(16)13
Avg EPS beat(16)7.44%
Revenue beat(2)0
Avg Revenue beat(2)-0.16%
Min Revenue beat(2)-0.23%
Max Revenue beat(2)-0.1%
Revenue beat(4)0
Avg Revenue beat(4)-0.81%
Min Revenue beat(4)-2.32%
Max Revenue beat(4)-0.1%
Revenue beat(8)2
Avg Revenue beat(8)-0.1%
Revenue beat(12)6
Avg Revenue beat(12)2.49%
Revenue beat(16)7
Avg Revenue beat(16)1.33%
PT rev (1m)0%
PT rev (3m)3.53%
EPS NQ rev (1m)-0.38%
EPS NQ rev (3m)-7.23%
EPS NY rev (1m)1.43%
EPS NY rev (3m)3.14%
Revenue NQ rev (1m)-0.01%
Revenue NQ rev (3m)-1.55%
Revenue NY rev (1m)1.41%
Revenue NY rev (3m)3.24%
Valuation
Industry RankSector Rank
PE 10.23
Fwd PE 8.95
P/S 3.22
P/FCF 10.26
P/OCF 9.76
P/B 0.96
P/tB 1.5
EV/EBITDA N/A
EPS(TTM)1.86
EY9.78%
EPS(NY)2.13
Fwd EY11.17%
FCF(TTM)1.85
FCFY9.75%
OCF(TTM)1.95
OCFY10.24%
SpS5.9
BVpS19.86
TBVpS12.67
PEG (NY)0.72
PEG (5Y)1.71
Profitability
Industry RankSector Rank
ROA 0.98%
ROE 8.25%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 27.74%
GM N/A
FCFM 31.4%
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-Score5
Asset Turnover0.04
Health
Industry RankSector Rank
Debt/Equity 0.13
Debt/FCF 1.62
Debt/EBITDA N/A
Cap/Depr 46.12%
Cap/Sales 1.61%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality 113.19%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score5
WACC12.5%
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)-9.27%
EPS 3Y2.44%
EPS 5Y6%
EPS Q2Q%6.52%
EPS Next Y14.26%
EPS Next 2Y19.44%
EPS Next 3Y15.72%
EPS Next 5YN/A
Revenue 1Y (TTM)2.67%
Revenue growth 3Y32.51%
Revenue growth 5Y18.6%
Sales Q2Q%5.48%
Revenue Next Year27.67%
Revenue Next 2Y23.86%
Revenue Next 3Y16.64%
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 1Y23.86%
FCF growth 3Y28.09%
FCF growth 5Y24.69%
OCF growth 1Y20.52%
OCF growth 3Y23.5%
OCF growth 5Y21.63%