Start with its own history
At 10.48×, ONB is 23.5% below its 10-observation annual average. A lower multiple can reflect a lower price, higher earnings, or weaker growth expectations—not necessarily a bargain.
NASDAQ · ONBBanks - RegionalUpdated Nov 5, 2026
Old National Bancorp P/E ratio
Current valuation, historical context, and peer comparisons.
Current P/E ratio
10.48×
23.5% belowthe 10-year annual average
Share price25.89
÷Earnings per share2.47
Price and EPS in quote currency. Calculation details
Investors are paying 10.48 for every 1 of reported earnings per share.
P/E over time
2016 – 2025
Annual P/ESelected-period average 13.69×
3-year average11.30×3 positive annual observations
5-year average11.32×5 positive annual observations
10-year average13.69×10 positive annual observations
Peer median · TTM13.00×8 peers with positive P/E
Historical P/E ratios
Annual period-end data · 25 observations
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2025 | 12.39× | -3.5% |
| Dec 31, 2024 | 12.85× | +48.3% |
| Dec 31, 2023 | 8.66× | -27.3% |
| Dec 31, 2022 | 11.91× | +10.4% |
| Dec 31, 2021 | 10.79× | -10.8% |
| Dec 31, 2020 | 12.09× | -8.1% |
| Dec 31, 2019 | 13.16× | +5.1% |
| Dec 31, 2018 | 12.52× | -50.5% |
View all 25 annual observations +
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2017 | 25.29× | +46.3% |
| Dec 31, 2016 | 17.29× | +28.8% |
| Dec 31, 2015 | 13.43× | -13.4% |
| Dec 31, 2014 | 15.50× | +0.8% |
| Dec 31, 2013 | 15.37× | +23.0% |
| Dec 31, 2012 | 12.49× | -18.5% |
| Dec 31, 2011 | 15.33× | -43.3% |
| Dec 31, 2010 | 27.02× | -69.6% |
| Dec 31, 2009 | 88.79× | +364.5% |
| Dec 31, 2008 | 19.12× | +45.7% |
| Dec 31, 2007 | 13.12× | -16.8% |
| Dec 31, 2006 | 15.77× | -31.5% |
| Dec 31, 2005 | 23.02× | -14.9% |
| Dec 31, 2004 | 27.07× | +31.9% |
| Dec 31, 2003 | 20.52× | +63.3% |
| Dec 31, 2002 | 12.57× | -21.9% |
| Dec 31, 2001 | 16.10× | N/M |
Change is relative to the preceding observation. N/M values are excluded from averages.
How ONB compares
Company P/E vs. peer trailing-12-month ratios
| Company | P/E ratio |
|---|---|
 ONB This stockOld National Bancorp | 10.48× |
 OSBCOld Second Bancorp, Inc. | 11.66× |
 VLYValley National Bancorp | 11.23× |
 NBTBNBT Bancorp Inc. | 12.92× |
 FFBCFirst Financial Bancorp. | 11.55× |
 NBHCNational Bank Holdings Corporation | 26.35× |
 RBCAARepublic Bancorp, Inc. | 14.19× |
 GABCGerman American Bancorp, Inc. | 13.08× |
 UBSIUnited Bankshares, Inc. | 13.34× |
Peers are selected by the data provider. Business models and earnings definitions can differ.
Put the numbers in context
What does ONB’s P/E tell you?
Compare like with like
The median of the 8 positive peer ratios above is 13.00×. Check growth, margins, debt, and earnings quality before interpreting the gap. A faster-growing business may justify a higher multiple.
Check what drives earnings
One-off gains can temporarily lower P/E; unusual charges can raise it. Reported earnings and forward estimates answer different questions. Pair this view with return on equity and liquidity for a fuller picture.
Keep your research connected
Take ONB into your spreadsheet
Pull historical P/E into Excel or Google Sheets with Wisesheets. Build your own comparisons alongside the rest of your financial model.
Explore WisesheetsQuarterly P/E · latest quarterLQ selects the latest reported quarter. Requires the Wisesheets add-in. See available data
=WISE("ONB", "PE Ratio", "LQ")Sources & calculation methodology
Current P/E
Share price 25.89 ÷ EPS 2.47 = 10.48×. Data is supplied by Financial Modeling Prep through Wisesheets. Quote feed updated Nov 5, 2026; this is not a real-time trading quote.
History & averages
Annual and quarterly P/E observations are provided separately from the current quote. Averages use the latest 3, 5, or 10 annual observations, excluding missing and nonpositive ratios. Pre-IPO observations are omitted. These are period-end observations, not daily averages.
Data definitions and limitations
The current quote feed does not specify the exact EPS filing-period end or whether EPS is basic or diluted. We do not label it as forward P/E. Peer ratios are explicitly trailing-12-month (TTM) values. Historical observations do not include independently verified price and EPS inputs. Sources may update on different schedules; rounded inputs can produce small calculation differences. Historical comparisons describe past pricing, not an estimate of fair value.
ONB P/E ratio: common questions
The essentials behind the numbers.
Old National Bancorp's current P/E is 10.48× based on the quote data last updated Nov 5, 2026. It represents the share price divided by reported earnings per share. Prices and earnings may refresh on different schedules.
Annual P/E uses earnings for a completed fiscal year. Trailing-12-month (TTM) P/E uses the latest four quarters, while forward P/E uses forecast earnings. These are not interchangeable. This page labels peer ratios as TTM and shows dated annual or quarterly historical observations; it does not show forward estimates.
N/M means not meaningful: the feed has no positive P/E for that observation. Negative or zero earnings should not be ranked as a low positive valuation multiple. N/M observations are excluded from the averages shown above.
Divide the share price by earnings per share (EPS). For example, a share price of 100 and EPS of 5 gives a P/E of 20×. This page uses the price and EPS supplied together in the quote when both are positive.
Price timestamps, EPS definitions, share classes, adjustments, and fiscal periods can differ. A forward P/E also uses forecast earnings rather than reported earnings. Compare the inputs and as-of dates before comparing two displayed ratios.
Not necessarily. The average describes previous market pricing, not fair value. Changes in earnings quality, growth expectations, debt, accounting, and business risk can justify a different multiple today.