BayFirst Financial Corp. (BAFN) vs MainStreet Bank (MNSB)

BayFirst Financial Corp. and MainStreet Bank are both Banks Regional companies. BayFirst Financial Corp. and MainStreet Bank are of similar size ($192.0M and $177.0M). BayFirst Financial Corp. has negative trailing earnings, so its P/E is not meaningful; MainStreet Bank trades at 12.2×. MainStreet Bank grew revenue faster over the last twelve months: −6.22% against −50.1%. MainStreet Bank has the higher net margin (11.6% vs −86.9%) and the higher return on invested capital (8.06% vs 0.00%). Both pay a dividend; BayFirst Financial Corp. yields more (2.52% vs 2.21%). Across the 19 metrics below, MainStreet Bank leads on 11 and BayFirst Financial Corp. on 8.

Valuation

Metric BAFN MNSB Banks Regional median
P/E n/m 12.17 12.15
P/S 0.40 1.36 2.37
P/B 1.09 0.95 1.21
Price to free cash flow 0.20 7.64 10.80
EV/EBITDA n/m n/m —
EV/Sales (1.49) 1.01 2.27
Earnings yield (218.82%) 8.22% 8.11%
Free cash flow yield 512.56% 13.09% 8.98%

Profitability

Metric BAFN MNSB Banks Regional median
Gross margin 49.73% 55.96% 69.57%
Operating margin 0.00% 0.00% 0.00%
Net margin (86.85%) 11.59% 18.66%
Free cash flow margin 205.06% 17.81% 21.18%
Return on equity (102.63%) 8.13% 10.64%
Return on assets (4.89%) 0.70% 1.13%
Return on invested capital 0.00% 8.06% 8.33%

Growth

Metric BAFN MNSB Banks Regional median
Revenue growth (TTM) (50.13%) (6.22%) 6.61%
EPS growth (last fiscal year) (326.34%) 210.00% —
Revenue growth, 5-year CAGR (5.93%) 14.30% 12.30%
Net income growth, 5-year CAGR 0.00% (2.25%) 9.71%

Health

Metric BAFN MNSB Banks Regional median
Debt to equity 0.06 0.33 0.22
Current ratio 0.98 1.06 0.94
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric BAFN MNSB Banks Regional median
Dividend yield 2.52% 2.21% 3.75%
Payout ratio 0.19 0.09 0.27

Size

Metric BAFN MNSB Banks Regional median
Market cap 191.98m 177.03m 921.07m

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