Huntington Bancshares Incorporated
1.88xPrice / tangible book
Market cap
$34.26B
Tangible equity
$18.20B
Price / tangible book
1.88x
Price / book
1.41x
Return on equity
9.1%
Return on assets
1.0%
Efficiency ratio
40.2%
Compare price, profitability, solvency, and SEC-reported financials side by side—before deciding which assumptions deserve a closer look.
Decision snapshot: HBAN stock price at discount vs SWX $16.90 current versus $57.74 implied using P/E multiple.
Quick read
Each company valued on the other's multiple, then compared with the market price.
Implied fair value · at SWX's multiple
Implied fair value · at HBAN's multiple
Snapshot Sep 8, 11:38 AM 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 discount
Multiple discount
Profitability edge
Asset efficiency lag
Lower is better
Statements
Bank-focused income statement and equity metrics aligned to the reporting windows.
SEC periods: HBAN FY 2025 (ended Dec 31, 2025) · SWX FY 2023 (ended Dec 31, 2023). Fiscal years are not aligned.
Trendline
Seven 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 / tangible book
Market cap
$34.26B
Tangible equity
$18.20B
Price / tangible book
1.88x
Price / book
1.41x
Return on equity
9.1%
Return on assets
1.0%
Efficiency ratio
40.2%
Price / tangible book
Market cap
$6.41B
Tangible equity
$2.52B
Price / tangible book
2.54x
Price / book
1.94x
Return on equity
4.6%
Return on assets
1.3%
Efficiency ratio
—
Price framework
The same filing-backed model used on each company's valuation page, with company-specific inputs and calculated scenarios.
Huntington Bancshares Incorporated · implied price per share
Bank model off — standard DCF modelling is disabled for financial institutions.
Southwest Gas Holdings, Inc. · implied price per share
Latest annual free cash flow must be positive to qualify the filing-backed baseline.
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.
Not enough data to score either balance sheet.
Debt / equity
Total debt against shareholders' equity
0.76x
1.41x
Net debt / EBITDA
Leverage against operating earnings
—
5.72x
Cash and equivalents
Liquid reserves on the balance sheet
—
$106.54M
Total debt
Interest-bearing obligations outstanding
$18.48B
$4.65B
Comparable set
Where the pair sits against the wider banking comparable set.
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