FB Financial Corporation (FBK) vs First Bancorp (FBNC)

FB Financial Corporation and First Bancorp are both Banks Regional companies. FB Financial Corporation and First Bancorp are of similar size ($2.7B and $2.7B). FB Financial Corporation trades at the lower P/E: 12.0× against 16.3×. FB Financial Corporation grew revenue faster over the last twelve months: 25.5% against 14.0%. First Bancorp has the higher net margin (26.7% vs 22.6%) and the lower return on invested capital (9.56% vs 20.5%). Both pay a dividend; FB Financial Corporation yields more (1.51% vs 1.46%). Across the 19 metrics below, FB Financial Corporation leads on 12 and First Bancorp on 7.

Valuation

Metric FBK FBNC Banks Regional median
P/E 12.05 16.34 12.02
P/S 2.63 4.37 2.36
P/B 1.40 1.56 1.23
Price to free cash flow 15.41 9.42 10.60
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 8.30% 6.12% 8.21%
Free cash flow yield 6.49% 10.61% 9.23%

Profitability

Metric FBK FBNC Banks Regional median
Gross margin 67.87% 75.68% 69.81%
Operating margin 0.00% 0.00% 0.00%
Net margin 22.62% 26.68% 18.82%
Free cash flow margin 17.07% 46.37% 17.97%
Return on equity 11.93% 9.85% 10.28%
Return on assets 1.40% 1.26% 1.13%
Return on invested capital 20.48% 9.56% 8.45%

Growth

Metric FBK FBNC Banks Regional median
Revenue growth (TTM) 25.48% 14.02% 6.37%
EPS growth (last fiscal year) (0.81%) 45.65% 18.85%
Revenue growth, 5-year CAGR 7.32% 11.48% 12.65%
Net income growth, 5-year CAGR 14.02% 6.37% 9.81%

Health

Metric FBK FBNC Banks Regional median
Debt to equity 0.00 0.04 0.17
Current ratio 0.95 0.85 0.93
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric FBK FBNC Banks Regional median
Dividend yield 1.51% 1.46% 2.49%
Payout ratio 0.18 0.24 0.29

Size

Metric FBK FBNC Banks Regional median
Market cap 2.66b 2.68b 934.85m

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