Allegiant Travel Co
2.03xPrice / book
Market cap
$2.14B
Tangible equity
—
Price / tangible book
—
Price / book
2.03x
Return on equity
-4.2%
Return on assets
-1.1%
Efficiency ratio
—
Compare price, profitability, solvency, and SEC-reported financials side by side—before deciding which assumptions deserve a closer look.
FY 2025 ·
Decision snapshot: ALGT stock price at premium vs ONB $78.16 current versus $45.61 implied using P/B multiple.
Quick read
Each company valued on the other's multiple, then compared with the market price.
Implied fair value · at ONB's multiple
Implied fair value · at ALGT's multiple
Snapshot Sep 4, 4:00 PM ET
Metric by metric
Filter, sort, and scan the equity metrics that matter most for banks: book value, tangible book, returns, and operating efficiency.
Multiple premium
Lower is better
Profitability lag
Asset efficiency lag
Lower is better
Statements
Bank-focused income statement and equity metrics aligned to the reporting windows.
SEC periods: ALGT FY 2025 (ended Dec 31, 2025) · ONB FY 2025 (ended Dec 31, 2025).
Trendline
Five fiscal years of revenue, earnings, and margins before underwriting a re-rating.
Price framework
Tangible book and profitability anchor a bank, not enterprise value.
Deposits and cash-like balances distort enterprise value for banks, so this section reads equity value, tangible book and profitability instead.
Price / book
Market cap
$2.14B
Tangible equity
—
Price / tangible book
—
Price / book
2.03x
Return on equity
-4.2%
Return on assets
-1.1%
Efficiency ratio
—
Price / tangible book
Market cap
$10.06B
Tangible equity
$5.59B
Price / tangible book
1.80x
Price / book
1.18x
Return on equity
7.9%
Return on assets
0.9%
Efficiency ratio
39.8%
Price framework
The same filing-backed model used on each company's valuation page, with company-specific inputs and calculated scenarios.
Allegiant Travel Co · implied price per share
Bear
-$52.81
Base
-$52.25
Bull
-$51.53
Old National Bancorp · implied price per share
Bank model off — standard DCF modelling is disabled for financial institutions.
Balance sheet health
Financial health checks to separate durable balance sheets from potential value traps.
Financial strength on a 0–9 scale.
Bankruptcy-risk signal from balance sheet and earnings power.
Debt / equity
Total debt against shareholders' equity
1.73x
7.47x
Net debt / EBITDA
Leverage against operating earnings
4.28x
27.97x
Cash and equivalents
Liquid reserves on the balance sheet
$805.66M
$1.83B
Total debt
Interest-bearing obligations outstanding
Comparable set
Where the pair sits against the wider banking comparable set.
Keep comparing
Open adjacent comparisons from the same industry to pressure-test the read across multiple pairs.
$1.82B
$63.49B
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