City Holding Company (CHCO) vs National Bank Holdings Corporation (NBHC)

City Holding Company and National Bank Holdings Corporation are both Banks Regional companies. City Holding Company is the larger, with a market value of $2.0B against $1.8B — 1.1× the size. City Holding Company trades at the lower P/E: 15.5× against 16.9×. National Bank Holdings Corporation grew revenue faster over the last twelve months: 9.28% against 3.37%. City Holding Company has the higher net margin (32.8% vs 15.1%) and the higher return on invested capital (14.8% vs 4.67%). Both pay a dividend; National Bank Holdings Corporation yields more (3.21% vs 2.85%). Across the 20 metrics below, City Holding Company leads on 11 and National Bank Holdings Corporation on 9.

Valuation

Metric CHCO NBHC Banks Regional median
P/E 15.52 16.88 12.15
P/S 4.95 2.75 2.37
P/B 2.46 1.07 1.21
Price to free cash flow 14.25 12.36 10.80
EV/EBITDA n/m n/m —
EV/Sales 4.66 2.67 2.27
Earnings yield 6.44% 5.92% 8.11%
Free cash flow yield 7.02% 8.09% 8.98%

Profitability

Metric CHCO NBHC Banks Regional median
Gross margin 80.00% 71.31% 69.57%
Operating margin 0.00% 0.00% 0.00%
Net margin 32.75% 15.11% 18.66%
Free cash flow margin 34.74% 22.25% 21.18%
Return on equity 16.76% 6.53% 10.64%
Return on assets 1.97% 0.87% 1.13%
Return on invested capital 14.81% 4.67% 8.33%

Growth

Metric CHCO NBHC Banks Regional median
Revenue growth (TTM) 3.37% 9.28% 6.61%
EPS growth (last fiscal year) 13.18% (7.47%) —
Revenue growth, 5-year CAGR 8.86% 10.39% 12.30%
Net income growth, 5-year CAGR 7.81% 4.34% 9.71%

Health

Metric CHCO NBHC Banks Regional median
Debt to equity 0.19 0.20 0.22
Current ratio 0.83 0.97 0.94
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric CHCO NBHC Banks Regional median
Dividend yield 2.85% 3.21% 3.75%
Payout ratio 0.33 0.35 0.27

Size

Metric CHCO NBHC Banks Regional median
Market cap 1.97b 1.78b 921.07m

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