Zions Bancorporation, National Association

ZIONNASDAQFinancial Services● Active

$63.25

+$0.02(+0.03%)

Market Cap$9.3B

P/E Ratio—

52W High$66.18

52W Low$46.19

Avg Volume1.6M

Open$63.23

Beta0.81

Free Cash Flow Financials Revenue

Zions Bancorporation, National Association (ZION) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

ZION · free cash flow · updated Jun 8, 2026

Core FCF metrics

ZION · FCF · TTM · margin & CAGR

Free cash flow was $981.0M for FY2025 (fiscal year ending 2025-12-31), down 6.7% year-over-year The FCF margin was 19.8%. Five-year CAGR stands at +12.3%.

FY2025 Free Cash Flow$981.0M▼ -6.7% YoY

Trailing 12M (TTM)$1.17Btrailing 4 quarters sum

FCF Margin19.8%$981.0M ÷ revenue

3-Year CAGR-8.5%FY2022 → FY2025

5-Year CAGR+12.3%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

ZION · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$1.10B(121M)$981.0M▼ 6.7%19.8%

FY2024$1.15B(97M)$1.05B▲ +36.1%21.1%

FY2023$885.0M(113M)$772.0M▼ 39.7%16.7%

FY2022$1.47B(190M)$1.28B▲ +202.6%38.4%

FY2021$629.0M(206M)$423.0M▼ 22.8%14.2%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

ZION · P/FCF · FCF yield · FCF per share

Zions Bancorporation, National Association (ZION) trades at a FCF yield of 12.57% and a price-to-free-cash-flow ratio of 8.0x. FCF per share stands at $7.94, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

12.57%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$7.94

TTM FCF ÷ Shares Outstanding

Price / FCF

x8.0

Share Price ÷ FCF per Share

EV / FCF (TTM)

x7.9

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

ZION · cash flow statement · operating / investing / financing

For FY2025, Zions Bancorporation, National Association generated $1.10B in operating cash flow and spent 121M in capital expenditures, yielding $981.0M in free cash flow.

Operating Activities

+$1.10B

Cash from core business operations

2025-12-31

Investing Activities

+$709.0M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$1.78B

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($1.10B) − |CapEx| (121M) = FCF ($981.0M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Financial Services)

ZION vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Zions Bancorporation, National AssociationYOU

ZION

$981.0M-6.7%19.8%

Berkshire Hathaway Inc.

BRK-B

$25.04B+115.6%6.7%

25%

Berkshire Hathaway Inc.

Mastercard Incorporated

$16.91B+18.2%51.6%

17%

Financial Services · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Zions Bancorporation, National Association (ZION) reported free cash flow of $981.0M for FY2025 (fiscal year ending 2025-12-31), down 6.7% year-over-year. The FCF margin was 19.8%.

Based on available data, Zions Bancorporation, National Association has maintained positive free cash flow for at least 15 fiscal year(s). FCF peaked at $1.28B in FY2022. The 5-year CAGR stands at +12.3%.

Zions Bancorporation, National Association's FCF yield is 12.57% and price-to-FCF ratio is 8.0x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

ZION free cash flow · 8 questions

Zions Bancorporation, National Association free cash flow was $981.0M for FY2025, down 6.7% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $1.17B.

ZION free cash flowZION FCFZION FCF 2025ZION free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Zions Bancorporation, National Association · Zions Bancorporation, National Association SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026