Banc of California, Inc. (BANC) vs FB Financial Corporation (FBK)

Banc of California, Inc. and FB Financial Corporation are both Banks Regional companies. Banc of California, Inc. and FB Financial Corporation are of similar size ($2.8B and $2.6B). Banc of California, Inc. has negative trailing earnings, so its P/E is not meaningful; FB Financial Corporation trades at 14.1×. FB Financial Corporation grew revenue faster over the last twelve months: 42.2% against −12.9%. FB Financial Corporation has the higher net margin (19.0% vs −4.01%) and the higher return on invested capital (20.4% vs −2.54%). Both pay a dividend; Banc of California, Inc. yields more (3.15% vs 1.74%). Across the 19 metrics below, FB Financial Corporation leads on 10 and Banc of California, Inc. on 9.

Valuation

Metric BANC FBK Banks Regional median
P/E n/m 14.15 12.15
P/S 1.81 2.63 2.37
P/B 0.96 1.40 1.21
Price to free cash flow 7.71 13.38 10.80
EV/EBITDA n/m n/m —
EV/Sales 0.36 1.76 2.27
Earnings yield (2.22%) 7.07% 8.11%
Free cash flow yield 12.96% 7.47% 8.98%

Profitability

Metric BANC FBK Banks Regional median
Gross margin 57.08% 67.62% 69.57%
Operating margin 0.00% 0.00% 0.00%
Net margin (4.01%) 19.00% 18.66%
Free cash flow margin 23.51% 19.63% 21.18%
Return on equity (2.13%) 11.08% 10.64%
Return on assets (0.18%) 1.30% 1.13%
Return on invested capital (2.54%) 20.39% 8.33%

Growth

Metric BANC FBK Banks Regional median
Revenue growth (TTM) (12.92%) 42.15% 6.61%
EPS growth (last fiscal year) 125.00% (0.81%) —
Revenue growth, 5-year CAGR 42.51% 7.32% 12.30%
Net income growth, 5-year CAGR 0.00% 14.02% 9.71%

Health

Metric BANC FBK Banks Regional median
Debt to equity 0.17 0.00 0.22
Current ratio 0.89 0.95 0.94
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric BANC FBK Banks Regional median
Dividend yield 3.15% 1.74% 3.75%
Payout ratio 0.23 0.19 0.27

Size

Metric BANC FBK Banks Regional median
Market cap 2.81b 2.64b 921.07m

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