Banco Santander Brasil SA (BSBR) vs Woori Bank (WF)

Banco Santander Brasil SA and Woori Bank are both Banks Regional companies. Banco Santander Brasil SA is the larger, with a market value of $21.4B against $18.8B — 1.1× the size. Banco Santander Brasil SA trades at the lower P/E: 7.6× against 9.0×. Banco Santander Brasil SA grew revenue faster over the last twelve months: 18.6% against 17.8%. Woori Bank has the higher net margin (11.4% vs 7.49%) and the higher return on invested capital (101.3% vs 13.4%). Both pay a dividend; Woori Bank yields more (8.01% vs 6.37%). Across the 20 metrics below, Banco Santander Brasil SA leads on 11 and Woori Bank on 9.

Valuation

Metric BSBR WF Banks Regional median
P/E 7.59 8.99 12.15
P/S 0.63 1.00 2.37
P/B 0.86 0.66 1.21
Price to free cash flow 2.86 3.37 10.80
EV/EBITDA n/m n/m —
EV/Sales 1.04 (0.42) 2.27
Earnings yield 13.17% 11.12% 8.11%
Free cash flow yield 34.98% 29.68% 8.98%

Profitability

Metric BSBR WF Banks Regional median
Gross margin 40.78% 54.19% 69.57%
Operating margin 0.00% 0.00% 0.00%
Net margin 7.49% 11.44% 18.66%
Free cash flow margin 22.08% 29.57% 21.18%
Return on equity 10.99% 8.08% 10.64%
Return on assets 1.10% 0.53% 1.13%
Return on invested capital 13.40% 101.28% 8.33%

Growth

Metric BSBR WF Banks Regional median
Revenue growth (TTM) 18.60% 17.84% 6.61%
EPS growth (last fiscal year) 5.26% (1.61%) —
Revenue growth, 5-year CAGR 20.06% 10.82% 12.30%
Net income growth, 5-year CAGR (2.56%) 11.33% 9.71%

Health

Metric BSBR WF Banks Regional median
Debt to equity 3.34 0.99 0.22
Current ratio 1.56 1.16 0.94
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric BSBR WF Banks Regional median
Dividend yield 6.37% 8.01% 3.75%
Payout ratio 1.27 0.29 0.27

Size

Metric BSBR WF Banks Regional median
Market cap 21.38b 18.76b 921.07m

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