BOK Financial Corporation

AI-generated fair value estimate for this company.

Method: Excess-return (Gordon growth) price-to-book model: justified P/B of (11.5% ROE minus 3.5% growth) divided by (10.0% cost of equity minus 3.5% growth), equal to 1.23x, applied to FY2025 book value per share of $94.51; 60.77M shares outstanding.

Reasoning: A standard unlevered FCF DCF is inappropriate for a bank since deposits and debt are the raw material of the business rather than a financing choice; value instead comes from capitalizing the spread between ROE and cost of equity onto book value, the standard bank-equity valuation framework.