Columbia Banking System, Inc. (COLB) vs Old National Bancorp (ONB)

Columbia Banking System, Inc. and Old National Bancorp are both Banks Regional companies. Old National Bancorp is the larger, with a market value of $9.5B against $8.6B — 1.1× the size. Old National Bancorp trades at the lower P/E: 10.2× against 10.6×. Columbia Banking System, Inc. grew revenue faster over the last twelve months: 22.2% against 17.6%. Old National Bancorp has the higher net margin (23.0% vs 22.8%) and the lower return on invested capital (5.62% vs 13.8%). Both pay a dividend; Columbia Banking System, Inc. yields more (4.85% vs 2.87%). Across the 19 metrics below, Old National Bancorp leads on 10 and Columbia Banking System, Inc. on 9.

Valuation

Metric COLB ONB Banks Regional median
P/E 10.56 10.21 12.02
P/S 2.33 2.32 2.36
P/B 1.20 1.18 1.23
Price to free cash flow 6.74 9.72 10.60
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 9.47% 9.79% 8.21%
Free cash flow yield 14.84% 10.29% 9.23%

Profitability

Metric COLB ONB Banks Regional median
Gross margin 75.64% 69.04% 69.81%
Operating margin 0.00% 0.00% 0.00%
Net margin 22.83% 22.96% 18.82%
Free cash flow margin 0.00% 23.90% 17.97%
Return on equity 11.23% 11.66% 10.28%
Return on assets 1.26% 1.29% 1.13%
Return on invested capital 13.78% 5.62% 8.45%

Growth

Metric COLB ONB Banks Regional median
Revenue growth (TTM) 22.22% 17.57% 6.37%
EPS growth (last fiscal year) (9.80%) 6.55% 18.85%
Revenue growth, 5-year CAGR 38.87% 32.86% 12.65%
Net income growth, 5-year CAGR 28.95% 23.60% 9.81%

Health

Metric COLB ONB Banks Regional median
Debt to equity 0.00 0.83 0.17
Current ratio 0.85 0.93 0.93
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric COLB ONB Banks Regional median
Dividend yield 4.85% 2.87% 2.49%
Payout ratio 0.51 0.29 0.29

Size

Metric COLB ONB Banks Regional median
Market cap 8.61b 9.48b 934.85m

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