Macro Bank Inc. (BMA) vs First Financial Bankshares, Inc. (FFIN)

Macro Bank Inc. and First Financial Bankshares, Inc. are both Banks Regional companies. Macro Bank Inc. and First Financial Bankshares, Inc. are of similar size ($4.6B and $4.5B). Macro Bank Inc. trades at the lower P/E: 15.1× against 17.3×. Macro Bank Inc. grew revenue faster over the last twelve months: 13.9% against 9.46%. First Financial Bankshares, Inc. has the higher net margin (31.0% vs 6.18%) and the higher return on invested capital (14.5% vs 8.33%). Both pay a dividend; Macro Bank Inc. yields more (4.02% vs 2.39%). Across the 20 metrics below, Macro Bank Inc. leads on 10 and First Financial Bankshares, Inc. on 10.

Valuation

Metric BMA FFIN Banks Regional median
P/E 15.07 17.26 12.15
P/S 0.91 5.36 2.37
P/B 1.00 2.33 1.21
Price to free cash flow 3.85 14.20 10.80
EV/EBITDA n/m n/m —
EV/Sales 0.48 4.69 2.27
Earnings yield 6.64% 5.79% 8.11%
Free cash flow yield 25.98% 7.04% 8.98%

Profitability

Metric BMA FFIN Banks Regional median
Gross margin 67.78% 76.77% 69.57%
Operating margin 0.00% 0.00% 0.00%
Net margin 6.18% 31.03% 18.66%
Free cash flow margin 0.00% 37.76% 21.18%
Return on equity 7.08% 14.41% 10.64%
Return on assets 1.73% 1.81% 1.13%
Return on invested capital 8.33% 14.47% 8.33%

Growth

Metric BMA FFIN Banks Regional median
Revenue growth (TTM) 13.93% 9.46% 6.61%
EPS growth (last fiscal year) (44.54%) 13.46% —
Revenue growth, 5-year CAGR 10.36% 10.57% 12.30%
Net income growth, 5-year CAGR (9.01%) 4.65% 9.71%

Health

Metric BMA FFIN Banks Regional median
Debt to equity 0.26 0.00 0.22
Current ratio 1.10 0.67 0.94
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric BMA FFIN Banks Regional median
Dividend yield 4.02% 2.39% 3.75%
Payout ratio 0.26 0.45 0.27

Size

Metric BMA FFIN Banks Regional median
Market cap 4.46b 4.61b 921.07m

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