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OLD NATIONAL BANCORP (ONB) Stock Fundamental Analysis

NASDAQ:ONB - US6800331075 - Common Stock

22.94 USD
+0.17 (+0.75%)
Last: 8/29/2025, 10:00:00 AM
Fundamental Rating

4

Taking everything into account, ONB scores 4 out of 10 in our fundamental rating. ONB was compared to 393 industry peers in the Banks industry. ONB has a bad profitability rating. Also its financial health evaluation is rather negative. ONB has a decent growth rate and is not valued too expensively.


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.
ONB had positive earnings in each of the past 5 years.
In the past 5 years ONB always reported a positive cash flow from operatings.
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

The Return On Assets of ONB (0.78%) is comparable to the rest of the industry.
ONB's Return On Equity of 6.79% is on the low side compared to the rest of the industry. ONB is outperformed by 65.90% 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's Profit Margin of 26.21% is fine compared to the rest of the industry. ONB outperforms 66.41% of its industry peers.
ONB's Profit Margin has been stable in the last couple of years.
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.
The number of shares outstanding for ONB has been increased compared to 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 has a worse Debt to FCF ratio (2.95) than 60.05% of its industry peers.
ONB has a Debt/Equity ratio of 0.18. This is a healthy value indicating a solid balance between debt and equity.
ONB has a Debt to Equity ratio (0.18) which is comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity 0.18
Debt/FCF 2.95
Altman-Z N/A
ROIC/WACCN/A
WACC11.69%
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

The Earnings Per Share has been growing slightly by 2.66% over the past year.
The Earnings Per Share has been growing slightly by 6.00% on average over the past years.
ONB shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 14.99%.
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)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.
Based on estimates for the next years, ONB will show a quite strong growth in Revenue. The Revenue will grow by 17.71% on average per year.
EPS Next Y16.29%
EPS Next 2Y19.01%
EPS Next 3Y17.96%
EPS Next 5YN/A
Revenue Next Year33.09%
Revenue Next 2Y23.88%
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

ONB is valuated reasonably with a Price/Earnings ratio of 11.89.
ONB's Price/Earnings ratio is a bit cheaper when compared to the industry. ONB is cheaper than 62.60% of the companies in the same industry.
ONB is valuated cheaply when we compare the Price/Earnings ratio to 27.17, which is the current average of the S&P500 Index.
The Price/Forward Earnings ratio is 8.71, which indicates a very decent valuation of ONB.
Compared to the rest of the industry, the Price/Forward Earnings ratio of ONB indicates a somewhat cheap valuation: ONB is cheaper than 79.13% of the companies listed in the same industry.
ONB is valuated cheaply when we compare the Price/Forward Earnings ratio to 22.78, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 11.89
Fwd PE 8.71
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

ONB's Price/Free Cash Flow ratio is a bit more expensive when compared to the industry. ONB is more expensive than 64.38% of the companies in the same industry.
Industry RankSector Rank
P/FCF 17.59
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

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
A more expensive valuation may be justified as ONB's earnings are expected to grow with 17.96% in the coming years.
PEG (NY)0.73
PEG (5Y)1.98
EPS Next 2Y19.01%
EPS Next 3Y17.96%

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6

5. Dividend

5.1 Amount

ONB has a Yearly Dividend Yield of 2.61%. Purely for dividend investing, there may be better candidates out there.
ONB's Dividend Yield is comparable with the industry average which is at 3.30.
Compared to an average S&P500 Dividend Yield of 2.34, ONB has a dividend comparable with the average S&P500 company.
Industry RankSector Rank
Dividend Yield 2.61%

5.2 History

The dividend of ONB has a limited annual growth rate of 3.80%.
ONB has been paying a dividend for at least 10 years, so it has 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

37.16% of the earnings are spent on dividend by ONB. This is a low number and sustainable payout ratio.
ONB's earnings are growing more than its dividend. This makes the dividend growth 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 (8/29/2025, 10:00:00 AM)

22.94

+0.17 (+0.75%)

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 Change0.38%
Market Cap8.99B
Analysts78.57
Price Target26.8 (16.83%)
Short Float %4.93%
Short Ratio5.13
Dividend
Industry RankSector Rank
Dividend Yield 2.61%
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)3.03%
PT rev (3m)4.63%
EPS NQ rev (1m)-0.13%
EPS NQ rev (3m)1.01%
EPS NY rev (1m)-0.67%
EPS NY rev (3m)-0.06%
Revenue NQ rev (1m)-0.4%
Revenue NQ rev (3m)-1.12%
Revenue NY rev (1m)0.31%
Revenue NY rev (3m)0.39%
Valuation
Industry RankSector Rank
PE 11.89
Fwd PE 8.71
P/S 4.27
P/FCF 17.59
P/OCF 16.7
P/B 1.11
P/tB 1.73
EV/EBITDA N/A
EPS(TTM)1.93
EY8.41%
EPS(NY)2.63
Fwd EY11.48%
FCF(TTM)1.3
FCFY5.69%
OCF(TTM)1.37
OCFY5.99%
SpS5.37
BVpS20.74
TBVpS13.22
PEG (NY)0.73
PEG (5Y)1.98
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
WACC11.69%
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 Year33.09%
Revenue Next 2Y23.88%
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%