First BanCorp. (FBP) vs United Community Banks, Inc. (UCB)

First BanCorp. and United Community Banks, Inc. are both Banks Regional companies. First BanCorp. and United Community Banks, Inc. are of similar size ($4.1B and $4.1B). United Community Banks, Inc. trades at the lower P/E: 11.2× against 11.3×. United Community Banks, Inc. grew revenue faster over the last twelve months: 3.25% against 2.66%. First BanCorp. has the higher net margin (29.2% vs 24.0%) and the higher return on invested capital (17.3% vs 7.68%). Both pay a dividend; United Community Banks, Inc. yields more (3.51% vs 3.42%). Across the 20 metrics below, First BanCorp. leads on 10 and United Community Banks, Inc. on 10.

Valuation

Metric FBP UCB Banks Regional median
P/E 11.32 11.20 12.15
P/S 3.26 2.67 2.37
P/B 2.10 1.10 1.21
Price to free cash flow 9.40 11.42 10.80
EV/EBITDA n/m n/m —
EV/Sales 2.98 2.85 2.27
Earnings yield 8.83% 8.93% 8.11%
Free cash flow yield 10.64% 8.76% 8.98%

Profitability

Metric FBP UCB Banks Regional median
Gross margin 80.79% 71.94% 69.57%
Operating margin 0.00% 0.00% 0.00%
Net margin 29.24% 24.00% 18.66%
Free cash flow margin 34.68% 23.39% 21.18%
Return on equity 19.49% 10.20% 10.64%
Return on assets 1.95% 1.30% 1.13%
Return on invested capital 17.33% 7.68% 8.33%

Growth

Metric FBP UCB Banks Regional median
Revenue growth (TTM) 2.66% 3.25% 6.61%
EPS growth (last fiscal year) 18.78% 28.43% —
Revenue growth, 5-year CAGR 9.31% 16.57% 12.30%
Net income growth, 5-year CAGR 28.20% 14.84% 9.71%

Health

Metric FBP UCB Banks Regional median
Debt to equity 0.10 0.22 0.22
Current ratio 0.80 0.83 0.94
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric FBP UCB Banks Regional median
Dividend yield 3.42% 3.51% 3.75%
Payout ratio 0.33 0.36 0.27

Size

Metric FBP UCB Banks Regional median
Market cap 4.09b 4.09b 921.07m

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