Columbia Banking System, Inc.COLB
NasdaqGS•Financial Services•Banks - Regional
Columbia Banking System, Inc. operates as the bank holding company for Columbia Bank that provides banking, private banking, mortgage, and other financial services in the United States. The company offers deposit products, including business, non-interest-bearing checking, interest-bearing checking and savings, money market, insured cash sweep and other investment sweep solutions, and certificates of deposit. It also provides commercial lending products, such as commercial lines of credit and term loans, accounts receivable and inventory financing, international trade finance, commercial property loans, multifamily loans, equipment loans, commercial equipment leases, real estate construction loans, permanent financing, small business administration program financing, and capital markets services. In addition, the company offers wealth management, comprising financial planning, investment, trust, insurance, and private banking solutions, as well as treasury management, which includes digital and mobile banking solutions, ACH, wires, positive pay, remote deposit capture, integrated payments, integrated receivables, lockbox, cash vault, real-time payments, commercial card, foreign exchange, trade and supply chain finance, international banking related products, and merchant services. Further, it provides residential real estate loans and consumer loans. The company serves corporate, institutional, small business, and individual customers in the United States. Columbia Banking System, Inc. was founded in 1953 and is based in Tacoma, Washington.
Columbia Banking System, Inc. (COLB) reported trailing twelve months revenue of $3.40B as of March 2026, a 15.4% increase year-over-year. Quarterly revenue reached $899.00M, reflecting continued top-line momentum.
Columbia Banking System, Inc. generated $655.39M in TTM net income, with quarterly EBITDA of $296.00M. The operating margin expanded from 17.4% to 28.4%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (28.4%) and net margin (21.4%) indicates moderate non-operating costs. Net margin has improved from 12.1% a year ago, signaling stronger bottom-line efficiency.
COLB trades at a P/E of 11.9x (below the broader market average) and a P/S of 2.3x. The price-to-book ratio of 1.0x reflects a moderate premium to book value.
The company generated $511.00M in free cash flow over the trailing twelve months, a 318.0% increase year-over-year, indicating strong cash generation ability. The balance sheet shows $66.03B in total assets with $3.40B in long-term debt against $7.66B in stockholders equity for a debt-to-equity ratio of 0.4, 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 ~23.9%, suggesting durable pricing power and cost discipline.
ROE is positive at ~8.8% on average, adequate but below the threshold typically associated with wide moats.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
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 ~25.1% — no sign of cost or pricing stress.
FCF covers net income by 1.5x on average — earnings are well-supported by cash generation.
D/E ratio is 0.4 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares outstanding increased 39.5% — significant dilution, likely from stock compensation or capital raises.