BOK Financial Corporation (BOKF) vs Western Alliance Bancorporation (WAL)

BOK Financial Corporation and Western Alliance Bancorporation are both Banks Regional companies. BOK Financial Corporation and Western Alliance Bancorporation are of similar size ($8.3B and $8.0B). Western Alliance Bancorporation trades at the lower P/E: 8.7× against 12.4×. Western Alliance Bancorporation grew revenue faster over the last twelve months: 10.7% against 1.10%. BOK Financial Corporation has the higher net margin (18.9% vs 16.9%) and the higher return on invested capital (16.9% vs 8.11%). Both pay a dividend; BOK Financial Corporation yields more (2.75% vs 2.50%). Across the 19 metrics below, Western Alliance Bancorporation leads on 11 and BOK Financial Corporation on 8.

Valuation

Metric BOKF WAL Banks Regional median
P/E 12.42 8.70 12.15
P/S 2.31 1.46 2.37
P/B 1.30 1.07 1.21
Price to free cash flow 5.58 n/m 10.80
EV/EBITDA n/m n/m —
EV/Sales 1.43 1.70 2.27
Earnings yield 8.05% 11.49% 8.11%
Free cash flow yield 17.93% (19.73%) 8.98%

Profitability

Metric BOKF WAL Banks Regional median
Gross margin 66.52% 68.81% 69.57%
Operating margin 0.00% 0.00% 0.00%
Net margin 18.85% 16.92% 18.66%
Free cash flow margin 41.39% (28.87%) 21.18%
Return on equity 10.79% 12.94% 10.64%
Return on assets 1.24% 1.04% 1.13%
Return on invested capital 16.89% 8.11% 8.33%

Growth

Metric BOKF WAL Banks Regional median
Revenue growth (TTM) 1.10% 10.74% 6.61%
EPS growth (last fiscal year) 12.65% 23.13% —
Revenue growth, 5-year CAGR 9.86% 32.15% 12.30%
Net income growth, 5-year CAGR 5.83% 13.55% 9.71%

Health

Metric BOKF WAL Banks Regional median
Debt to equity 0.57 0.90 0.22
Current ratio 0.81 0.86 0.94
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric BOKF WAL Banks Regional median
Dividend yield 2.75% 2.50% 3.75%
Payout ratio 0.23 0.17 0.27

Size

Metric BOKF WAL Banks Regional median
Market cap 7.95b 8.32b 921.07m

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