BayFirst Financial Corp. (BAFN) vs Landmark Bancorp Inc. (LARK)

BayFirst Financial Corp. and Landmark Bancorp Inc. are both Banks Regional companies. BayFirst Financial Corp. and Landmark Bancorp Inc. are of similar size ($192.0M and $191.1M). BayFirst Financial Corp. has negative trailing earnings, so its P/E is not meaningful; Landmark Bancorp Inc. trades at 9.7×. Landmark Bancorp Inc. grew revenue faster over the last twelve months: 6.39% against −50.1%. Landmark Bancorp Inc. has the higher net margin (20.6% vs −86.9%) and the higher return on invested capital (6.52% vs 0.00%). Both pay a dividend; Landmark Bancorp Inc. yields more (4.23% vs 2.52%). Across the 19 metrics below, Landmark Bancorp Inc. leads on 10 and BayFirst Financial Corp. on 9.

Valuation

Metric BAFN LARK Banks Regional median
P/E n/m 9.69 12.15
P/S 0.40 1.99 2.37
P/B 1.09 1.17 1.21
Price to free cash flow 0.20 8.32 10.80
EV/EBITDA n/m n/m —
EV/Sales (1.49) 2.74 2.27
Earnings yield (218.82%) 10.32% 8.11%
Free cash flow yield 512.56% 12.02% 8.98%

Profitability

Metric BAFN LARK Banks Regional median
Gross margin 49.73% 76.42% 69.57%
Operating margin 0.00% 0.00% 0.00%
Net margin (86.85%) 20.56% 18.66%
Free cash flow margin 205.06% 23.94% 21.18%
Return on equity (102.63%) 12.77% 10.64%
Return on assets (4.89%) 1.25% 1.13%
Return on invested capital 0.00% 6.52% 8.33%

Growth

Metric BAFN LARK Banks Regional median
Revenue growth (TTM) (50.13%) 6.39% 6.61%
EPS growth (last fiscal year) (326.34%) 42.63% —
Revenue growth, 5-year CAGR (5.93%) 7.58% 12.30%
Net income growth, 5-year CAGR 0.00% (0.75%) 9.71%

Health

Metric BAFN LARK Banks Regional median
Debt to equity 0.06 0.63 0.22
Current ratio 0.98 0.87 0.94
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric BAFN LARK Banks Regional median
Dividend yield 2.52% 4.23% 3.75%
Payout ratio 0.19 0.41 0.27

Size

Metric BAFN LARK Banks Regional median
Market cap 191.98m 191.07m 921.07m

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