Banc of California, Inc. (BANC) vs First Hawaiian, Inc. (FHB)

Banc of California, Inc. and First Hawaiian, Inc. are both Banks Regional companies. Banc of California, Inc. and First Hawaiian, Inc. are of similar size ($3.1B and $2.8B). Banc of California, Inc. has negative trailing earnings, so its P/E is not meaningful; First Hawaiian, Inc. trades at 10.9×. First Hawaiian, Inc. grew revenue faster over the last twelve months: 1.57% against −12.9%. First Hawaiian, Inc. has the higher net margin (24.4% vs −4.01%) and the higher return on invested capital (12.8% vs −2.54%). Both pay a dividend; First Hawaiian, Inc. yields more (5.03% vs 3.15%). Across the 19 metrics below, First Hawaiian, Inc. leads on 11 and Banc of California, Inc. on 8.

Valuation

Metric BANC FHB Banks Regional median
P/E n/m 10.93 12.15
P/S 1.81 2.63 2.37
P/B 0.96 1.09 1.21
Price to free cash flow 7.71 9.83 10.80
EV/EBITDA n/m n/m —
EV/Sales 0.36 2.19 2.27
Earnings yield (2.22%) 9.15% 8.11%
Free cash flow yield 12.96% 10.18% 8.98%

Profitability

Metric BANC FHB Banks Regional median
Gross margin 57.08% 77.44% 69.57%
Operating margin 0.00% 0.00% 0.00%
Net margin (4.01%) 24.41% 18.66%
Free cash flow margin 23.51% 26.79% 21.18%
Return on equity (2.13%) 10.32% 10.64%
Return on assets (0.18%) 1.20% 1.13%
Return on invested capital (2.54%) 12.82% 8.33%

Growth

Metric BANC FHB Banks Regional median
Revenue growth (TTM) (12.92%) 1.57% 6.61%
EPS growth (last fiscal year) 125.00% 22.91% —
Revenue growth, 5-year CAGR 42.51% 8.41% 12.30%
Net income growth, 5-year CAGR 0.00% 8.26% 9.71%

Health

Metric BANC FHB Banks Regional median
Debt to equity 0.17 0.00 0.22
Current ratio 0.89 0.77 0.94
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric BANC FHB Banks Regional median
Dividend yield 3.15% 5.03% 3.75%
Payout ratio 0.23 0.48 0.27

Size

Metric BANC FHB Banks Regional median
Market cap 2.81b 3.06b 921.07m

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