Macro Bank Inc. (BMA) vs International Bancshares Corporation (IBOC)

Macro Bank Inc. and International Bancshares Corporation are both Banks Regional companies. Macro Bank Inc. and International Bancshares Corporation are of similar size ($4.5B and $4.3B). International Bancshares Corporation trades at the lower P/E: 10.5× against 15.1×. Macro Bank Inc. grew revenue faster over the last twelve months: 13.9% against 2.08%. International Bancshares Corporation has the higher net margin (38.8% vs 6.18%) and the higher return on invested capital (10.8% vs 8.33%). Both pay a dividend; Macro Bank Inc. yields more (4.02% vs 2.39%). Across the 20 metrics below, International Bancshares Corporation leads on 12 and Macro Bank Inc. on 8.

Valuation

Metric BMA IBOC Banks Regional median
P/E 15.07 10.53 12.15
P/S 0.91 4.09 2.37
P/B 1.00 1.29 1.21
Price to free cash flow 3.85 9.60 10.80
EV/EBITDA n/m n/m —
EV/Sales 0.48 3.77 2.27
Earnings yield 6.64% 9.49% 8.11%
Free cash flow yield 25.98% 10.41% 8.98%

Profitability

Metric BMA IBOC Banks Regional median
Gross margin 67.78% 80.72% 69.57%
Operating margin 0.00% 0.00% 0.00%
Net margin 6.18% 38.83% 18.66%
Free cash flow margin 0.00% 42.55% 21.18%
Return on equity 7.08% 12.92% 10.64%
Return on assets 1.73% 2.47% 1.13%
Return on invested capital 8.33% 10.76% 8.33%

Growth

Metric BMA IBOC Banks Regional median
Revenue growth (TTM) 13.93% 2.08% 6.61%
EPS growth (last fiscal year) (44.54%) 0.76% —
Revenue growth, 5-year CAGR 10.36% 12.83% 12.30%
Net income growth, 5-year CAGR (9.01%) 19.77% 9.71%

Health

Metric BMA IBOC Banks Regional median
Debt to equity 0.26 0.04 0.22
Current ratio 1.10 0.77 0.94
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric BMA IBOC Banks Regional median
Dividend yield 4.02% 2.39% 3.75%
Payout ratio 0.26 0.20 0.27

Size

Metric BMA IBOC Banks Regional median
Market cap 4.46b 4.32b 921.07m

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