BayFirst Financial Corp. (BAFN) vs Finward Bancorp (FNWD)

BayFirst Financial Corp. and Finward Bancorp are both Banks Regional companies. BayFirst Financial Corp. and Finward Bancorp are of similar size ($192.0M and $183.1M). BayFirst Financial Corp. has negative trailing earnings, so its P/E is not meaningful; Finward Bancorp trades at 18.9×. Finward Bancorp grew revenue faster over the last twelve months: 0.15% against −50.1%. Finward Bancorp has the higher net margin (9.65% vs −86.9%) and the higher return on invested capital (4.41% vs 0.00%). Both pay a dividend; BayFirst Financial Corp. yields more (2.52% vs 2.03%). Across the 19 metrics below, Finward Bancorp leads on 10 and BayFirst Financial Corp. on 9.

Valuation

Metric BAFN FNWD Banks Regional median
P/E n/m 18.93 12.15
P/S 0.40 1.82 2.37
P/B 1.09 1.04 1.21
Price to free cash flow 0.20 10.69 10.80
EV/EBITDA n/m n/m —
EV/Sales (1.49) 1.53 2.27
Earnings yield (218.82%) 5.28% 8.11%
Free cash flow yield 512.56% 9.36% 8.98%

Profitability

Metric BAFN FNWD Banks Regional median
Gross margin 49.73% 67.76% 69.57%
Operating margin 0.00% 0.00% 0.00%
Net margin (86.85%) 9.65% 18.66%
Free cash flow margin 205.06% 17.07% 21.18%
Return on equity (102.63%) 5.90% 10.64%
Return on assets (4.89%) 0.48% 1.13%
Return on invested capital 0.00% 4.41% 8.33%

Growth

Metric BAFN FNWD Banks Regional median
Revenue growth (TTM) (50.13%) 0.15% 6.61%
EPS growth (last fiscal year) (326.34%) (33.80%) —
Revenue growth, 5-year CAGR (5.93%) 7.69% 12.30%
Net income growth, 5-year CAGR 0.00% (12.68%) 9.71%

Health

Metric BAFN FNWD Banks Regional median
Debt to equity 0.06 0.36 0.22
Current ratio 0.98 0.88 0.94
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric BAFN FNWD Banks Regional median
Dividend yield 2.52% 2.03% 3.75%
Payout ratio 0.19 0.40 0.27

Size

Metric BAFN FNWD Banks Regional median
Market cap 191.98m 183.11m 921.07m

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