BOK Financial CorporationBOKF
NasdaqGS•Financial Services•Banks - Regional
BOK Financial Corporation operates as the financial holding company for BOKF, NA that provides various financial products and services in Oklahoma, Texas, New Mexico, Northwest Arkansas, Colorado, Arizona, and Kansas/Missouri. It operates through three segments: Commercial Banking, Consumer Banking, and Wealth Management. The Commercial Banking segment offers lending, treasury, cash management, and customer commodity risk management products for small businesses, middle market, and larger commercial customers, as well as operates TransFund electronic funds transfer network. The Consumer Banking segment engages in the provision of retail lending and deposit services to small business customers through retail branch network; and mortgage loan origination and servicing activities. The Wealth Management segment offers fiduciary, private bank, insurance, and investment advisory services; and brokerage and trading services primarily related to providing liquidity to the mortgage markets through trading of U.S. government agency mortgage-backed securities and related derivative contracts, as well as underwrites state and municipal securities. The company also provides commercial loans, such as loans for working capital, facilities acquisition or expansion, purchases of equipment, and other needs of commercial customers; and service, healthcare, energy, and other sector loans. In addition, it offers commercial real estate loans for the construction of buildings or other improvements to real estate and property held by borrowers for investment purposes; residential mortgage and personal loans; and personal and small business checking, online bill paying, mobile banking, automated teller machine, and call centers services. The company was founded in 1910 and is headquartered in Tulsa, Oklahoma.
BOK Financial Corporation (BOKF) reported trailing twelve months revenue of $3.40B as of March 2026, a 2.1% decline year-over-year. Quarterly revenue reached $827.19M, reflecting a contraction in sales.
BOK Financial Corporation generated $613.98M in TTM net income, with quarterly EBITDA of $226.86M. The operating margin expanded from 19.2% to 24.1%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (24.1%) and net margin (18.8%) indicates moderate non-operating costs. Net margin has improved from 14.9% a year ago, signaling stronger bottom-line efficiency.
BOKF trades at a P/E of 13.2x (below the broader market average) and a P/S of 2.4x. The price-to-book ratio of 1.4x reflects a moderate premium to book value.
The company reported negative free cash flow of $-284.41M, indicating cash consumption over the period. The balance sheet shows $53.76B in total assets with $396.63M in long-term debt against $5.97B in stockholders equity for a debt-to-equity ratio of 0.1, a conservative capital structure. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are expanding at ~21.8%, suggesting durable pricing power and cost discipline.
ROE is positive at ~9.3% on average, adequate but below the threshold typically associated with wide moats.
5 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
Revenue shows resilience with 4 of 7 quarters posting growth — demand is generally stable but has seen some soft patches.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~23.1% — no sign of cost or pricing stress.
FCF/Net Income has dropped below 0.7x in 4 quarters — monitor for earnings quality deterioration.
Debt-to-equity has risen 184.1% recently — increasing financial risk even if the current ratio is manageable.
Revenue has softened, declining in 3 quarters. Monitor for further erosion.
FCF turned negative in 3 of the last 8 quarters — occasional cash consumption.
Shares decreased 5.8% — net buybacks are reducing shares outstanding and boosting per-share value.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation