BayFirst Financial Corp. (BAFN) vs SB Financial Group, Inc. (SBFG)

BayFirst Financial Corp. and SB Financial Group, Inc. are both Banks Regional companies. BayFirst Financial Corp. and SB Financial Group, Inc. are of similar size ($192.2M and $192.0M). BayFirst Financial Corp. has negative trailing earnings, so its P/E is not meaningful; SB Financial Group, Inc. trades at 11.1×. SB Financial Group, Inc. grew revenue faster over the last twelve months: 8.95% against −50.1%. SB Financial Group, Inc. has the higher net margin (17.7% vs −86.9%) and the higher return on invested capital (26.8% vs 0.00%). Both pay a dividend; SB Financial Group, Inc. yields more (3.25% vs 2.52%). Across the 19 metrics below, SB Financial Group, Inc. leads on 10 and BayFirst Financial Corp. on 9.

Valuation

Metric BAFN SBFG Banks Regional median
P/E n/m 11.14 12.15
P/S 0.40 1.95 2.37
P/B 1.09 1.26 1.21
Price to free cash flow 0.20 8.02 10.80
EV/EBITDA n/m n/m —
EV/Sales (1.49) 0.92 2.27
Earnings yield (218.82%) 8.98% 8.11%
Free cash flow yield 512.56% 12.47% 8.98%

Profitability

Metric BAFN SBFG Banks Regional median
Gross margin 49.73% 72.07% 69.57%
Operating margin 0.00% 0.00% 0.00%
Net margin (86.85%) 17.67% 18.66%
Free cash flow margin 205.06% 24.35% 21.18%
Return on equity (102.63%) 11.95% 10.64%
Return on assets (4.89%) 1.08% 1.13%
Return on invested capital 0.00% 26.76% 8.33%

Growth

Metric BAFN SBFG Banks Regional median
Revenue growth (TTM) (50.13%) 8.95% 6.61%
EPS growth (last fiscal year) (326.34%) 27.33% —
Revenue growth, 5-year CAGR (5.93%) 4.59% 12.30%
Net income growth, 5-year CAGR 0.00% (1.33%) 9.71%

Health

Metric BAFN SBFG Banks Regional median
Debt to equity 0.06 0.29 0.22
Current ratio 0.98 0.95 0.94
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric BAFN SBFG Banks Regional median
Dividend yield 2.52% 3.25% 3.75%
Payout ratio 0.19 0.28 0.27

Size

Metric BAFN SBFG Banks Regional median
Market cap 191.98m 192.15m 921.07m

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