BayFirst Financial Corp. (BAFN) vs First Capital, Inc. (FCAP)

BayFirst Financial Corp. and First Capital, Inc. are both Banks Regional companies. BayFirst Financial Corp. and First Capital, Inc. are of similar size ($204.5M and $192.0M). BayFirst Financial Corp. has negative trailing earnings, so its P/E is not meaningful; First Capital, Inc. trades at 10.9×. First Capital, Inc. grew revenue faster over the last twelve months: 12.1% against −50.1%. First Capital, Inc. has the higher net margin (26.8% vs −86.9%) and the higher return on invested capital (0.00% vs 0.00%). Both pay a dividend; First Capital, Inc. yields more (3.89% vs 2.52%). Across the 18 metrics below, First Capital, Inc. leads on 11 and BayFirst Financial Corp. on 7.

Valuation

Metric BAFN FCAP Banks Regional median
P/E n/m 10.90 12.15
P/S 0.40 2.92 2.37
P/B 1.09 1.41 1.21
Price to free cash flow 0.20 9.26 10.80
EV/EBITDA n/m n/m —
EV/Sales (1.49) 1.22 2.27
Earnings yield (218.82%) 9.17% 8.11%
Free cash flow yield 512.56% 10.79% 8.98%

Profitability

Metric BAFN FCAP Banks Regional median
Gross margin 49.73% 79.17% 69.57%
Operating margin 0.00% 0.00% 0.00%
Net margin (86.85%) 26.79% 18.66%
Free cash flow margin 205.06% 31.53% 21.18%
Return on equity (102.63%) 13.88% 10.64%
Return on assets (4.89%) 1.46% 1.13%
Return on invested capital 0.00% 0.00% 8.33%

Growth

Metric BAFN FCAP Banks Regional median
Revenue growth (TTM) (50.13%) 12.14% 6.61%
EPS growth (last fiscal year) (326.34%) 36.97% —
Revenue growth, 5-year CAGR (5.93%) 11.30% 12.30%
Net income growth, 5-year CAGR 0.00% 10.07% 9.71%

Health

Metric BAFN FCAP Banks Regional median
Debt to equity 0.06 0.00 0.22
Current ratio 0.98 0.72 0.94
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric BAFN FCAP Banks Regional median
Dividend yield 2.52% 3.89% 3.75%
Payout ratio 0.19 0.27 0.27

Size

Metric BAFN FCAP Banks Regional median
Market cap 191.98m 204.52m 921.07m

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