ZIONNasdaqNational Commercial BanksFiscal year ends December 31Also trades as ZIONP
ZIONS BANCORPORATION, NATIONAL ASSOCIATION /UT/
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$63.14−0.23 (-0.36%)
Close on Oct 19, 2026
- Market cap
- $9.23B
- P/E (TTM)
- 8.0
- Dividend yield
- 2.79%
Margins
Share of revenue, fiscal years 2011 to 2025
Net margin
135.8%+37.6 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +3.6% | +2.5% | +3.8% | -10.8% | |
| Net income | +14.7% | -0.3% | +10.8% | – | |
| EPS, diluted | +21.4% | +1.3% | +14.8% | +17.5% | |
| Free cash flow | -9.4% | -9.4% | +11.7% | +12.0% | |
| Dividend per share | +6.0% | +3.7% | +5.3% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | 7.1% | 13.5% | |
| Return on assets | – | 0.7% | 1.0% | |
| Debt to equity | – | – | 0.64 | |
| Capex to revenue | 8.2% | 31.1% | 18.3% | |
| Diluted shares | 204M | 166M | 147M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Zions Bancorporation, National Association generated $5.21B from operations and spent $3.23B on capital expenditure, dividends and share buybacks. 23% of that went back into the business.
Generated
$5.21B
Used
$3.23B
Capital expenditure$727.00M23%Dividends$1.37B42%Share buybacks$1.13B35%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin135.8%
×Asset turnover0.01×
×Equity multiplier13.34×
=Return on equity, FY202513.5%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 135.8% | 0.01× | 13.34× | 13.5% |
| FY2024 | 122.7% | 0.01× | 14.89× | 13.3% |
| FY2023 | 110.4% | 0.01× | 16.70× | 12.8% |
| FY2022 | 147.7% | 0.01× | 14.79× | 14.7% |
| FY2021 | 196.3% | 0.01× | 11.38× | 14.7% |
| FY2020 | 98.2% | 0.01× | 9.89× | 7.1% |
| FY2019 | 155.4% | 0.01× | 9.24× | 10.9% |
| FY2018 | 174.0% | 0.01× | 8.85× | 11.6% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
6of 7 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$899.00M
- Cash generatingOperating cash flow above zero$1.07B
- Return on assets improvedROA up on the prior year0.9% → 1.0%
- Earnings backed by cashOperating cash flow above net income$1.07B vs $899.00M
- Less leverageLong-term debt to assets fell1.1% → 1.7%
- Better liquidityCurrent ratio rose– → –
- No dilutionShare count did not rise147M → 147M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.01 → 0.01