Cathay General Bancorp (CATY) vs Fulton Financial Corporation (FULT)

Cathay General Bancorp and Fulton Financial Corporation are both Banks Regional companies. Cathay General Bancorp and Fulton Financial Corporation are of similar size ($4.4B and $4.1B). Fulton Financial Corporation trades at the lower P/E: 11.1× against 11.9×. Cathay General Bancorp grew revenue faster over the last twelve months: 2.47% against 0.82%. Cathay General Bancorp has the higher net margin (24.7% vs 20.1%) and the higher return on invested capital (14.8% vs 10.3%). Both pay a dividend; Fulton Financial Corporation yields more (4.63% vs 3.52%). Across the 20 metrics below, Cathay General Bancorp leads on 10 and Fulton Financial Corporation on 10.

Valuation

Metric CATY FULT Banks Regional median
P/E 11.93 11.06 12.15
P/S 2.92 2.31 2.37
P/B 1.35 1.23 1.21
Price to free cash flow 7.71 10.79 10.80
EV/EBITDA n/m n/m —
EV/Sales 2.07 1.94 2.27
Earnings yield 8.38% 9.04% 8.11%
Free cash flow yield 12.97% 9.27% 8.98%

Profitability

Metric CATY FULT Banks Regional median
Gross margin 61.82% 71.07% 69.57%
Operating margin 0.00% 0.00% 0.00%
Net margin 24.66% 20.10% 18.66%
Free cash flow margin 37.94% 21.45% 21.18%
Return on equity 11.71% 11.43% 10.64%
Return on assets 1.44% 1.16% 1.13%
Return on invested capital 14.82% 10.26% 8.33%

Growth

Metric CATY FULT Banks Regional median
Revenue growth (TTM) 2.47% 0.82% 6.61%
EPS growth (last fiscal year) 14.94% 32.48% —
Revenue growth, 5-year CAGR 13.25% 14.26% 12.30%
Net income growth, 5-year CAGR 6.61% 16.74% 9.71%

Health

Metric CATY FULT Banks Regional median
Debt to equity 0.04 0.14 0.22
Current ratio 1.04 0.92 0.94
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric CATY FULT Banks Regional median
Dividend yield 3.52% 4.63% 3.75%
Payout ratio 0.26 0.35 0.27

Size

Metric CATY FULT Banks Regional median
Market cap 4.08b 4.40b 921.07m

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