Business First Bancshares, Inc. (BFST) vs Horizon Bancorp (IN) (HBNC)

Business First Bancshares, Inc. and Horizon Bancorp (IN) are both Banks Regional companies. Business First Bancshares, Inc. and Horizon Bancorp (IN) are of similar size ($1.0B and $992.5M). Horizon Bancorp (IN) has negative trailing earnings, so its P/E is not meaningful; Business First Bancshares, Inc. trades at 11.1×. Business First Bancshares, Inc. grew revenue faster over the last twelve months: 7.80% against −74.2%. Business First Bancshares, Inc. has the higher net margin (16.3% vs −149.0%) and the higher return on invested capital (8.41% vs −17.9%). Both pay a dividend; Horizon Bancorp (IN) yields more (3.29% vs 1.92%). Across the 18 metrics below, Business First Bancshares, Inc. leads on 15 and Horizon Bancorp (IN) on 3.

Valuation

Metric BFST HBNC Banks Regional median
P/E 11.10 n/m 11.98
P/S 1.90 10.28 2.34
P/B 1.09 1.37 1.19
Price to free cash flow 9.88 10.57 10.63
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 9.01% (16.24%) 8.23%
Free cash flow yield 10.12% 9.46% 9.08%

Profitability

Metric BFST HBNC Banks Regional median
Gross margin 64.32% (13.47%) 69.55%
Operating margin 0.00% 0.00% 0.00%
Net margin 16.32% (148.95%) 18.66%
Free cash flow margin 19.24% 97.31% 21.11%
Return on equity 10.22% (18.98%) 10.65%
Return on assets 1.04% (2.02%) 1.13%
Return on invested capital 8.41% (17.93%) 8.35%

Growth

Metric BFST HBNC Banks Regional median
Revenue growth (TTM) 7.80% (74.21%) 6.98%
EPS growth (last fiscal year) 23.45% (493.75%) 18.88%
Revenue growth, 5-year CAGR 24.70% (16.35%) 12.38%
Net income growth, 5-year CAGR 22.42% 0.00% 9.71%

Health

Metric BFST HBNC Banks Regional median
Debt to equity 0.56 0.22 0.22
Current ratio 1.01 0.92 0.94
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric BFST HBNC Banks Regional median
Dividend yield 1.92% 3.29% 2.57%
Payout ratio 0.21 — 0.30

Size

Metric BFST HBNC Banks Regional median
Market cap 1.01b 992.49m 913.33m

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