Banco Bradesco SA (BBD) vs Woori Bank (WF)

Banco Bradesco SA and Woori Bank are both Banks Regional companies. Woori Bank is the larger, with a market value of $16.8B against $14.0B — 1.2× the size. Banco Bradesco SA trades at the lower P/E: 5.5× against 7.7×. Banco Bradesco SA grew revenue faster over the last twelve months: 30.8% against 17.8%. Woori Bank has the higher net margin (11.4% vs 7.52%) and the higher return on invested capital (101.3% vs 0.00%). Both pay a dividend; Banco Bradesco SA yields more (9.45% vs 4.18%). Across the 19 metrics below, Banco Bradesco SA leads on 10 and Woori Bank on 9.

Valuation

Metric BBD WF Banks Regional median
P/E 5.48 7.74 12.02
P/S 0.40 0.88 2.36
P/B 0.70 0.58 1.23
Price to free cash flow 3.02 2.96 10.60
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 18.25% 12.92% 8.21%
Free cash flow yield 33.13% 33.73% 9.23%

Profitability

Metric BBD WF Banks Regional median
Gross margin 36.04% 54.19% 69.81%
Operating margin 0.00% 0.00% 0.00%
Net margin 7.52% 11.44% 18.82%
Free cash flow margin 13.20% 29.57% 17.97%
Return on equity 14.24% 8.08% 10.28%
Return on assets 1.13% 0.53% 1.13%
Return on invested capital 0.00% 101.28% 8.45%

Growth

Metric BBD WF Banks Regional median
Revenue growth (TTM) 30.84% 17.84% 6.37%
EPS growth (last fiscal year) 31.03% (1.61%) 18.85%
Revenue growth, 5-year CAGR 16.20% 10.82% 12.65%
Net income growth, 5-year CAGR 5.72% 11.33% 9.81%

Health

Metric BBD WF Banks Regional median
Debt to equity 2.78 0.99 0.17
Current ratio 1.72 1.16 0.93
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric BBD WF Banks Regional median
Dividend yield 9.45% 4.18% 2.49%
Payout ratio 0.52 0.32 0.29

Size

Metric BBD WF Banks Regional median
Market cap 14.00b 16.77b 934.85m

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