BayFirst Financial Corp. (BAFN) vs ECB Bancorp, Inc. (ECBK)

BayFirst Financial Corp. and ECB Bancorp, Inc. are both Banks Regional companies. BayFirst Financial Corp. and ECB Bancorp, Inc. are of similar size ($192.0M and $180.9M). BayFirst Financial Corp. has negative trailing earnings, so its P/E is not meaningful; ECB Bancorp, Inc. trades at 14.6×. ECB Bancorp, Inc. grew revenue faster over the last twelve months: 18.6% against −50.1%. ECB Bancorp, Inc. has the higher net margin (13.2% vs −86.9%) and the higher return on invested capital (2.96% vs 0.00%). Across the 18 metrics below, ECB Bancorp, Inc. leads on 11 and BayFirst Financial Corp. on 7.

Valuation

Metric BAFN ECBK Banks Regional median
P/E n/m 14.58 12.15
P/S 0.40 1.91 2.37
P/B 1.09 0.92 1.21
Price to free cash flow 0.20 7.40 10.80
EV/EBITDA n/m n/m —
EV/Sales (1.49) 3.61 2.27
Earnings yield (218.82%) 6.86% 8.11%
Free cash flow yield 512.56% 13.52% 8.98%

Profitability

Metric BAFN ECBK Banks Regional median
Gross margin 49.73% 44.84% 69.57%
Operating margin 0.00% 0.00% 0.00%
Net margin (86.85%) 13.19% 18.66%
Free cash flow margin 205.06% 25.88% 21.18%
Return on equity (102.63%) 6.56% 10.64%
Return on assets (4.89%) 0.72% 1.13%
Return on invested capital 0.00% 2.96% 8.33%

Growth

Metric BAFN ECBK Banks Regional median
Revenue growth (TTM) (50.13%) 18.64% 6.61%
EPS growth (last fiscal year) (326.34%) 95.83% —
Revenue growth, 5-year CAGR (5.93%) 35.93% 12.30%
Net income growth, 5-year CAGR 0.00% 9.84% 9.71%

Health

Metric BAFN ECBK Banks Regional median
Debt to equity 0.06 1.58 0.22
Current ratio 0.98 1.29 0.94
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric BAFN ECBK Banks Regional median
Dividend yield 2.52% — 3.75%
Payout ratio 0.19 — 0.27

Size

Metric BAFN ECBK Banks Regional median
Market cap 191.98m 180.87m 921.07m

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