Columbia Banking System vs Old National Bank
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The short version
- Old National Bank is the larger business, with $2.5B of revenue in fiscal 2025 against $2.3B for Columbia Banking System.
- Old National Bank grew revenue faster (33.9%, against 19.3%).
- Investors pay more for each dollar of Old National Bankβs earnings: a P/E of 13.0x against 12.1x for Columbia Banking System.
| Latest fiscal year | COLB Β· FY25 | ONB Β· FY25 |
|---|---|---|
| Size | ||
| Market cap | $7.4B | $9.3B |
| Revenue | $2.3B | $2.5B |
| Free cash flow | β | β |
| Net income | $550M | $669M |
| Growth | ||
| Revenue growth | 19.3% | 33.9% |
| 5-year growth | 30.6% | 24.8% |
| Share count change | 14.2% | 17.5% |
| Profitability | ||
| Gross margin | β | β |
| Operating margin | β | β |
| Net margin | 23.9% | 26.5% |
| FCF margin | β | β |
| Return on capital | β | β |
| Return on equity | 8.5% | 9.0% |
| Balance sheet | ||
| Net debt | β | β |
| Net debt / EBITDA | β | β |
| Dividends and buybacks | $444M | $297M |
| Valuation & quality | ||
| P/E | 12.1x | 13.0x |
| Piotroski F-score | β | β |
Revenue
FY16
COLB $422M
ONB $656M
FY17
COLB $478M
ONB $621M
FY18
COLB $567M
ONB $733M
FY19
COLB $591M
ONB $804M
FY20
COLB $605M
ONB $835M
FY21
COLB $1.3B
ONB $811M
FY22
COLB $1.3B
ONB $1.7B
FY23
COLB $2.0B
ONB $1.8B
FY24
COLB $1.9B
ONB $1.9B
FY25
COLB $2.3B
ONB $2.5B
COLB
ONB
Operating margin
FY16
COLB β
ONB β
FY17
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ONB β
FY18
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ONB β
FY19
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ONB β
FY20
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ONB β
FY21
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FY22
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FY23
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FY24
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FY25
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COLB
ONB
Free cash flow
FY16
COLB β
ONB β
FY17
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FY18
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FY19
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FY20
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FY21
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FY22
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ONB β
FY23
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FY24
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FY25
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COLB
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Return on capital
FY16
COLB β
ONB β
FY17
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ONB β
FY18
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FY19
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FY20
COLB β
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FY21
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FY22
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FY23
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FY24
COLB β
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FY25
COLB β
ONB β
COLB
ONB
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.