Banco Bradesco SA (BBDO) vs M&T Bank Corporation (MTB)

Banco Bradesco SA and M&T Bank Corporation are both Banks Regional companies. M&T Bank Corporation is the larger, with a market value of $31.6B against $28.5B — 1.1× the size. Banco Bradesco SA trades at the lower P/E: 7.3× against 11.6×. Banco Bradesco SA grew revenue faster over the last twelve months: 35.6% against 1.00%. M&T Bank Corporation has the higher net margin (21.5% vs 7.16%) and the lower return on invested capital (10.2% vs 886.7%). Both pay a dividend; Banco Bradesco SA yields more (7.28% vs 4.05%). Across the 20 metrics below, Banco Bradesco SA leads on 12 and M&T Bank Corporation on 8.

Valuation

Metric BBDO MTB Banks Regional median
P/E 7.33 11.60 12.15
P/S 0.51 2.42 2.37
P/B 0.90 1.26 1.21
Price to free cash flow 27.72 8.98 10.80
EV/EBITDA n/m n/m —
EV/Sales (0.05) 2.13 2.27
Earnings yield 13.64% 8.62% 8.11%
Free cash flow yield 3.61% 11.14% 8.98%

Profitability

Metric BBDO MTB Banks Regional median
Gross margin 35.95% 74.61% 69.57%
Operating margin 0.00% 0.00% 0.00%
Net margin 7.16% 21.53% 18.66%
Free cash flow margin 1.82% 26.93% 21.18%
Return on equity 13.76% 11.13% 10.64%
Return on assets 1.06% 1.33% 1.13%
Return on invested capital 886.68% 10.18% 8.33%

Growth

Metric BBDO MTB Banks Regional median
Revenue growth (TTM) 35.61% 1.00% 6.61%
EPS growth (last fiscal year) 31.03% 16.12% —
Revenue growth, 5-year CAGR 16.20% 16.06% 12.30%
Net income growth, 5-year CAGR 5.72% 16.11% 9.71%

Health

Metric BBDO MTB Banks Regional median
Debt to equity 2.93 0.49 0.22
Current ratio 1.48 0.96 0.94
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric BBDO MTB Banks Regional median
Dividend yield 7.28% 4.05% 3.75%
Payout ratio 0.67 0.29 0.27

Size

Metric BBDO MTB Banks Regional median
Market cap 28.51b 31.58b 921.07m

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