CVB Financial Corporation (CVBF) vs First BanCorp. (FBP)

CVB Financial Corporation and First BanCorp. are both Banks Regional companies. CVB Financial Corporation and First BanCorp. are of similar size ($4.1B and $3.9B). First BanCorp. trades at the lower P/E: 11.3× against 15.5×. CVB Financial Corporation grew revenue faster over the last twelve months: 8.42% against 2.66%. First BanCorp. has the higher net margin (29.2% vs 28.8%) and the higher return on invested capital (17.3% vs 7.62%). Both pay a dividend; CVB Financial Corporation yields more (4.76% vs 3.42%). Across the 20 metrics below, First BanCorp. leads on 14 and CVB Financial Corporation on 6.

Valuation

Metric CVBF FBP Banks Regional median
P/E 15.54 11.32 12.15
P/S 5.28 3.26 2.37
P/B 1.19 2.10 1.21
Price to free cash flow 6.57 9.40 10.80
EV/EBITDA n/m n/m —
EV/Sales 4.49 2.98 2.27
Earnings yield 6.44% 8.83% 8.11%
Free cash flow yield 15.21% 10.64% 8.98%

Profitability

Metric CVBF FBP Banks Regional median
Gross margin 80.52% 80.79% 69.57%
Operating margin 0.00% 0.00% 0.00%
Net margin 28.84% 29.24% 18.66%
Free cash flow margin 80.31% 34.68% 21.18%
Return on equity 7.60% 19.49% 10.64%
Return on assets 1.12% 1.95% 1.13%
Return on invested capital 7.62% 17.33% 8.33%

Growth

Metric CVBF FBP Banks Regional median
Revenue growth (TTM) 8.42% 2.66% 6.61%
EPS growth (last fiscal year) 5.56% 18.78% —
Revenue growth, 5-year CAGR 6.19% 9.31% 12.30%
Net income growth, 5-year CAGR 3.32% 28.20% 9.71%

Health

Metric CVBF FBP Banks Regional median
Debt to equity 0.17 0.10 0.22
Current ratio 0.77 0.80 0.94
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric CVBF FBP Banks Regional median
Dividend yield 4.76% 3.42% 3.75%
Payout ratio 0.46 0.33 0.27

Size

Metric CVBF FBP Banks Regional median
Market cap 3.92b 4.09b 921.07m

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