Old National Bancorp Financials

ONBPP

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Old National Bancorp (ONBPP) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 45/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Growth

Old National Bancorp's revenue surged 25.7% year-over-year to $3.3B, reflecting rapid business expansion. This strong growth earns a score of 76/100.

Leverage

Old National Bancorp has elevated debt relative to equity (D/E of 7.49), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.

Cash Flow

Old National Bancorp converts 19.5% of revenue into free cash flow ($637.4M). This strong cash generation earns a score of 74/100.

Returns

Old National Bancorp generates a 7.9% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 29/100. This is down from 8.5% the prior year.

Piotroski F-Score Weak

3/9

Old National Bancorp passes 3 of 9 financial strength tests. 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality Cash-Backed

1.02x

For every $1 of reported earnings, Old National Bancorp generates $1.02 in operating cash flow ($681.5M OCF vs $669.3M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$3.3B

YoY+25.7%

5Y CAGR+94.2%

10Y CAGR+23.4%

Old National Bancorp generated $3.3B in revenue in fiscal year 2025. This represents an increase of 25.7% from the prior year.

EBITDA

N/A

Net Income

$669.3M

YoY+24.1%

5Y CAGR+24.2%

10Y CAGR+19.1%

Old National Bancorp reported $669.3M in net income in fiscal year 2025. This represents an increase of 24.1% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

$637.4M

YoY+7.7%

5Y CAGR+27.5%

10Y CAGR+32.5%

Old National Bancorp generated $637.4M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 7.7% from the prior year.

Cash & Debt

$1.8B

YoY+48.7%

5Y CAGR+25.4%

10Y CAGR+23.6%

Old National Bancorp held $1.8B in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

$0.56

YoY+0.0%

5Y CAGR+0.0%

10Y CAGR+1.6%

Old National Bancorp paid $0.56 per share in dividends in fiscal year 2025. This represents an increase of 0.0% from the prior year.

Shares Outstanding

390M

YoY+22.2%

5Y CAGR+18.7%

10Y CAGR+13.0%

Old National Bancorp had 390M shares outstanding in fiscal year 2025. This represents an increase of 22.2% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

20.5%

YoY-0.3pp

5Y CAGR-170.7pp

10Y CAGR-8.8pp

Old National Bancorp's net profit margin was 20.5% in fiscal year 2025, showing the share of revenue converted to profit. This is down 0.3 percentage points from the prior year.

Return on Equity

7.9%

YoY-0.6pp

5Y CAGR+0.3pp

10Y CAGR+0.1pp

Old National Bancorp's ROE was 7.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 0.6 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

$71.8M

YoY+708.2%

5Y CAGR-2.7%

10Y CAGR-2.1%

Old National Bancorp spent $71.8M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 708.2% from the prior year.

Capital Expenditures

$44.1M

YoY+45.6%

5Y CAGR+7.4%

10Y CAGR-6.4%

Old National Bancorp invested $44.1M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 45.6% from the prior year.

ONBPP Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$3.3B+25.7%	$2.6B+17.9%	$2.2B+51.8%	$1.5B+1057.7%	$125.6M+6.1%	$118.4M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$1.2B+13.2%	$1.1B+52.2%	$703.7M+457.3%	$126.3M+198.9%	$42.2M-37.1%	$67.2M
Income Tax	$172.1M+21.9%	$141.3M-16.6%	$169.3M+45.4%	$116.4M+89.9%	$61.3M+110.4%	$29.1M
Net Income	$669.3M+24.1%	$539.2M-7.4%	$582.0M+35.9%	$428.3M+54.3%	$277.5M+22.6%	$226.4M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$897.3M-2.2%	$917.2M+11.2%	$825.0M+30.9%	$630.4M-4.8%	$662.1M-2.6%	$679.9M+2.5%	$663.7M+11.4%	$596.0M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$316.5M-7.6%	$342.6M+10.4%	$310.2M+27.8%	$242.8M-9.4%	$267.9M-7.0%	$288.2M+4.7%	$275.2M+14.9%	$239.5M
Income Tax	$54.9M+9.7%	$50.0M+65.1%	$30.3M-17.9%	$36.9M+14.5%	$32.2M-21.9%	$41.3M+17.1%	$35.3M+8.5%	$32.5M
Net Income	$216.6M+18.7%	$182.6M+45.6%	$125.4M-13.3%	$144.7M-6.0%	$153.9M+7.0%	$143.8M+18.6%	$121.2M+0.8%	$120.3M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

ONBPP Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$72.2B+34.7%	$53.6B+9.1%	$49.1B+5.0%	$46.8B+91.2%	$24.5B+6.5%	$23.0B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$1.8B+48.7%	$1.2B+4.5%	$1.2B+61.3%	$728.4M-11.4%	$822.0M+39.4%	$589.7M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$2.4B+11.5%	$2.2B+8.8%	$2.0B0.0%	$2.0B+92.7%	$1.0B0.0%	$1.0B
Total Liabilities	$63.7B+34.8%	$47.2B+8.5%	$43.5B+4.5%	$41.6B+94.2%	$21.4B+7.3%	$20.0B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$8.5B+34.0%	$6.3B+14.0%	$5.6B+8.5%	$5.1B+70.3%	$3.0B+1.3%	$3.0B
Retained Earnings	$2.4B+22.5%	$2.0B+21.5%	$1.6B+33.0%	$1.2B+25.8%	$968.0M+23.5%	$783.9M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$72.2B+1.3%	$71.2B+0.3%	$71.0B+31.7%	$53.9B+0.6%	$53.6B-0.1%	$53.6B+0.9%	$53.1B+7.2%	$49.5B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$1.8B+8.5%	$1.7B-7.0%	$1.8B+45.9%	$1.2B+1.0%	$1.2B+3.1%	$1.2B-3.4%	$1.2B+31.2%	$939.5M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$2.4B+0.3%	$2.4B+0.4%	$2.4B+10.8%	$2.2B0.0%	$2.2B-0.1%	$2.2B+0.3%	$2.2B+8.6%	$2.0B
Total Liabilities	$63.7B+1.2%	$62.9B+0.1%	$62.9B+32.8%	$47.3B+0.3%	$47.2B0.0%	$47.2B+0.4%	$47.0B+7.1%	$43.9B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$8.5B+2.2%	$8.3B+2.3%	$8.1B+24.4%	$6.5B+3.1%	$6.3B-0.4%	$6.4B+4.8%	$6.1B+8.6%	$5.6B
Retained Earnings	$2.4B+7.0%	$2.3B+5.8%	$2.1B+3.2%	$2.1B+4.8%	$2.0B+5.6%	$1.9B+5.4%	$1.8B+4.3%	$1.7B

ONBPP Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$681.5M+9.5%	$622.3M+20.5%	$516.3M-36.6%	$814.4M+146.5%	$330.4M+50.3%	$219.8M
Capital Expenditures	$44.1M+45.6%	$30.3M-21.1%	$38.4M+1.3%	$37.9M-22.2%	$48.7M+57.7%	$30.9M
Free Cash Flow	$637.4M+7.7%	$592.0M+23.9%	$478.0M-38.4%	$776.5M+175.7%	$281.7M+49.1%	$188.9M
Investing Cash Flow	-$1.8B-33.7%	-$1.4B+24.6%	-$1.8B-7.9%	-$1.7B-17.7%	-$1.4B+33.1%	-$2.1B
Financing Cash Flow	$1.8B+118.2%	$802.6M-54.1%	$1.7B+125.0%	$777.5M-41.7%	$1.3B-40.3%	$2.2B
Dividends Paid	$225.1M+17.8%	$191.2M+6.2%	$180.0M+1.4%	$177.6M+91.3%	$92.8M-0.1%	$92.9M
Share Buybacks	$71.8M+708.2%	$8.9M-79.9%	$44.3M-37.8%	$71.2M+1807.9%	$3.7M-95.5%	$82.4M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$159.2M-53.3%	$341.2M+368.1%	$72.9M-32.6%	$108.2M-54.1%	$235.8M+94.3%	$121.3M-24.6%	$161.0M+54.4%	$104.2M
Capital Expenditures	$21.9M+188.4%	$7.6M-13.8%	$8.8M+51.7%	$5.8M-14.1%	$6.8M+19.2%	$5.7M-39.5%	$9.4M+10.4%	$8.5M
Free Cash Flow	$137.3M-58.8%	$333.6M+420.6%	$64.1M-37.4%	$102.4M-55.3%	$229.0M+98.0%	$115.7M-23.7%	$151.6M+58.3%	$95.8M
Investing Cash Flow	-$698.8M-54.9%	-$451.1M-8.9%	-$414.4M-53.2%	-$270.6M-130.6%	-$117.3M+60.6%	-$298.0M-56.4%	-$190.5M+75.1%	-$766.1M
Financing Cash Flow	$683.1M+4354.0%	-$16.1M-101.8%	$910.3M+422.7%	$174.2M+312.3%	-$82.0M-160.7%	$135.2M-58.1%	$323.1M-24.2%	$426.3M
Dividends Paid	$58.6M-0.4%	$58.9M0.0%	$58.9M+21.0%	$48.7M0.0%	$48.7M0.0%	$48.7M0.0%	$48.7M+8.0%	$45.1M
Share Buybacks	$25.1M-0.4%	$25.2M+216.7%	$8.0M-41.2%	$13.5M+9639.6%	$139K-51.6%	$287K-77.5%	$1.3M-82.2%	$7.2M

ONBPP Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	20.5%-0.3pp	20.7%-5.6pp	26.4%-3.1pp	29.4%-191.5pp	220.9%+29.8pp	191.2%
Return on Equity	7.9%-0.6pp	8.5%-2.0pp	10.5%+2.1pp	8.3%-0.9pp	9.2%+1.6pp	7.6%
Return on Assets	0.9%-0.1pp	1.0%-0.2pp	1.2%+0.3pp	0.9%-0.2pp	1.1%+0.1pp	1.0%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	7.49+0.0	7.45-0.4	7.82-0.3	8.12+1.0	7.12+0.4	6.72
FCF Margin	19.5%-3.3pp	22.8%+1.1pp	21.7%-31.7pp	53.4%-170.9pp	224.3%+64.7pp	159.5%

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	24.1%+4.2pp	19.9%+4.7pp	15.2%-7.8pp	22.9%-0.3pp	23.2%+2.1pp	21.1%+2.9pp	18.3%-1.9pp	20.2%
Return on Equity	2.5%+0.3pp	2.2%+0.7pp	1.5%-0.7pp	2.2%-0.2pp	2.4%+0.2pp	2.3%+0.3pp	2.0%-0.1pp	2.1%
Return on Assets	0.3%+0.0pp	0.3%+0.1pp	0.2%-0.1pp	0.3%-0.0pp	0.3%+0.0pp	0.3%+0.0pp	0.2%0.0pp	0.2%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	7.49-0.1	7.57-0.2	7.73+0.5	7.25-0.2	7.45+0.0	7.42-0.3	7.74-0.1	7.85
FCF Margin	15.3%-21.1pp	36.4%+28.6pp	7.8%-8.5pp	16.2%-18.4pp	34.6%+17.6pp	17.0%-5.8pp	22.9%+6.8pp	16.1%

Frequently Asked Questions

What is Old National Bancorp's annual revenue?

Old National Bancorp (ONBPP) reported $3.3B in total revenue for fiscal year 2025. This represents a 25.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Old National Bancorp's revenue growing?

Old National Bancorp (ONBPP) revenue grew by 25.7% year-over-year, from $2.6B to $3.3B in fiscal year 2025.

Is Old National Bancorp profitable?

Yes, Old National Bancorp (ONBPP) reported a net income of $669.3M in fiscal year 2025, with a net profit margin of 20.5%.

What is Old National Bancorp's net profit margin?

Old National Bancorp (ONBPP) had a net profit margin of 20.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Old National Bancorp pay dividends?

Yes, Old National Bancorp (ONBPP) paid $0.56 per share in dividends during fiscal year 2025.

What is Old National Bancorp's return on equity (ROE)?

Old National Bancorp (ONBPP) has a return on equity of 7.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Old National Bancorp's free cash flow?

Old National Bancorp (ONBPP) generated $637.4M in free cash flow during fiscal year 2025. This represents a 7.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Old National Bancorp's operating cash flow?

Old National Bancorp (ONBPP) generated $681.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Old National Bancorp's total assets?

Old National Bancorp (ONBPP) had $72.2B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Old National Bancorp's capital expenditures?

Old National Bancorp (ONBPP) invested $44.1M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does Old National Bancorp buy back shares?

Yes, Old National Bancorp (ONBPP) spent $71.8M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Old National Bancorp have outstanding?

Old National Bancorp (ONBPP) had 390M shares outstanding as of fiscal year 2025.

What is Old National Bancorp's debt-to-equity ratio?

Old National Bancorp (ONBPP) had a debt-to-equity ratio of 7.49 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Old National Bancorp's return on assets (ROA)?

Old National Bancorp (ONBPP) had a return on assets of 0.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Old National Bancorp's Piotroski F-Score?

Old National Bancorp (ONBPP) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Old National Bancorp's earnings high quality?

Old National Bancorp (ONBPP) has an earnings quality ratio of 1.02x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Old National Bancorp?

Old National Bancorp (ONBPP) scores 45 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.