The business behind the dividend
| Measure | PNFP | Median | Formula |
|---|---|---|---|
| Return on equity | 9.1% | 10.6% | Net income ÷ shareholders’ equity |
| Return on capital employed | — | — | Operating income ÷ (equity + total debt) |
| Owner earnings | $598.74m | $120.90m | Net income + depreciation & amortisation − capital expenditure |
| Free cash flow | $679.08m | $155.08m | Operating cash flow − capital expenditure |
| Operating margin | — | — | Operating income ÷ revenue |
| Net margin | 23.0% | 10.1% | Net income ÷ revenue |
| Debt to equity | — | — | Total debt ÷ shareholders’ equity |
| Interest cover | — | — | Operating income ÷ interest expense |
| Current ratio | — | — | Current assets ÷ current liabilities |
| Long-term debt to working capital | — | — | Long-term debt ÷ (current assets − current liabilities) |
| Cash conversion | — | — | Operating cash flow ÷ net income |
| Accruals | -0.2% | -3.1% | (Net income − operating cash flow) ÷ total assets |
Not computed here: Cash conversion, Current ratio, Debt to equity, Long-term debt to working capital, Interest cover, Operating margin, Return on capital employed — why a blank is not a zero.
Ten years of it
The same measures, for every year the filings support. One year is a fact; a row is a business.
| Measure | 2025 | 2024 | 2023 | Median |
|---|---|---|---|---|
| Return on equity | 9.1% | 7.4% | 9.3% | 9.1% |
| Net margin | 23.0% | 17.6% | 23.9% | 23.0% |
How it compares in banks & insurers
Among the 377 banks & insurers companies here measured on GAAP earnings, Pinnacle Financial Partners pays out less than 340 of them. The median for that group is 30.6%, against this company’s 11.9%.
Closest on GAAP earnings
- Esquire Financial Holdings (ESQ) 11.9%
- Orix (IX) 11.9%
- Universal Insurance Holdings (UVE) 12.2%
- Synchrony Financial (SYF) 12.4%
Same sector and same denominator, so the figures are comparable. All 377 in banks & insurers →