Equity Bancshares, Inc. (EQBK) vs Horizon Bancorp (IN) (HBNC)

Equity Bancshares, Inc. and Horizon Bancorp (IN) are both Banks Regional companies. Equity Bancshares, Inc. and Horizon Bancorp (IN) are of similar size ($991.9M and $986.8M). Horizon Bancorp (IN) has negative trailing earnings, so its P/E is not meaningful; Equity Bancshares, Inc. trades at 28.6×. Equity Bancshares, Inc. grew revenue faster over the last twelve months: 13.3% against −74.2%. Equity Bancshares, Inc. has the higher net margin (9.42% vs −149.0%) and the higher return on invested capital (4.80% vs −17.9%). Both pay a dividend; Horizon Bancorp (IN) yields more (5.37% vs 1.50%). Across the 18 metrics below, Equity Bancshares, Inc. leads on 13 and Horizon Bancorp (IN) on 5.

Valuation

Metric EQBK HBNC Banks Regional median
P/E 28.60 n/m 12.15
P/S 2.64 10.20 2.37
P/B 1.21 1.36 1.21
Price to free cash flow 23.16 10.49 10.80
EV/EBITDA n/m n/m —
EV/Sales 2.47 9.56 2.27
Earnings yield 3.50% (16.36%) 8.11%
Free cash flow yield 4.32% 9.54% 8.98%

Profitability

Metric EQBK HBNC Banks Regional median
Gross margin 67.33% (13.47%) 69.57%
Operating margin 0.00% 0.00% 0.00%
Net margin 9.42% (148.95%) 18.66%
Free cash flow margin 11.38% 97.31% 21.18%
Return on equity 4.90% (18.98%) 10.64%
Return on assets 0.55% (2.02%) 1.13%
Return on invested capital 4.80% (17.93%) 8.33%

Growth

Metric EQBK HBNC Banks Regional median
Revenue growth (TTM) 13.26% (74.21%) 6.61%
EPS growth (last fiscal year) (69.25%) (493.75%) —
Revenue growth, 5-year CAGR 11.63% (16.35%) 12.30%
Net income growth, 5-year CAGR 0.00% 0.00% 9.71%

Health

Metric EQBK HBNC Banks Regional median
Debt to equity 0.58 0.22 0.22
Current ratio 0.93 0.92 0.94
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric EQBK HBNC Banks Regional median
Dividend yield 1.50% 5.37% 3.75%
Payout ratio 0.13 0.34 0.27

Size

Metric EQBK HBNC Banks Regional median
Market cap 991.94m 986.84m 921.07m

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