First BanCorp. (FBP) vs Grupo Financiero Galicia S.A. (GGAL)

First BanCorp. and Grupo Financiero Galicia S.A. are both Banks Regional companies. First BanCorp. and Grupo Financiero Galicia S.A. are of similar size ($4.0B and $3.9B). First BanCorp. trades at the lower P/E: 10.8× against 15.2×. First BanCorp. grew revenue faster over the last twelve months: 2.93% against −65.4%. First BanCorp. has the higher net margin (28.7% vs 7.53%) and the higher return on invested capital (17.7% vs −76.1%). Across the 17 metrics below, First BanCorp. leads on 9 and Grupo Financiero Galicia S.A. on 8.

Valuation

Metric FBP GGAL Banks Regional median
P/E 10.83 15.21 12.02
P/S 3.06 1.20 2.36
P/B 2.09 0.80 1.23
Price to free cash flow 8.88 0.70 10.60
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 9.24% 6.58% 8.21%
Free cash flow yield 11.26% 143.09% 9.23%

Profitability

Metric FBP GGAL Banks Regional median
Gross margin 81.06% 84.41% 69.81%
Operating margin 0.00% 0.00% 0.00%
Net margin 28.67% 7.53% 18.82%
Free cash flow margin 0.00% 0.00% 17.97%
Return on equity 19.41% 0.00% 10.28%
Return on assets 1.91% 1.00% 1.13%
Return on invested capital 17.71% (76.07%) 8.45%

Growth

Metric FBP GGAL Banks Regional median
Revenue growth (TTM) 2.93% (65.36%) 6.37%
EPS growth (last fiscal year) 18.78% (91.19%) 18.85%
Revenue growth, 5-year CAGR 9.31% 19.31% 12.65%
Net income growth, 5-year CAGR 28.20% (13.82%) 9.81%

Health

Metric FBP GGAL Banks Regional median
Debt to equity 0.11 0.00 0.17
Current ratio 0.80 1.08 0.93
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric FBP GGAL Banks Regional median
Dividend yield 3.00% — 2.49%
Payout ratio 0.33 — 0.29

Size

Metric FBP GGAL Banks Regional median
Market cap 3.91b 3.96b 934.85m

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