First Financial Bancorp. (FFBC) vs Park National Corporation (PRK)

First Financial Bancorp. and Park National Corporation are both Banks Regional companies. First Financial Bancorp. and Park National Corporation are of similar size ($3.3B and $3.3B). First Financial Bancorp. trades at the lower P/E: 11.3× against 16.2×. First Financial Bancorp. grew revenue faster over the last twelve months: 11.7% against 11.6%. Park National Corporation has the higher net margin (25.8% vs 20.8%) and the higher return on invested capital (12.8% vs 7.09%). Both pay a dividend; First Financial Bancorp. yields more (4.22% vs 3.29%). Across the 20 metrics below, First Financial Bancorp. leads on 12 and Park National Corporation on 8.

Valuation

Metric FFBC PRK Banks Regional median
P/E 11.29 16.18 12.15
P/S 2.45 4.45 2.37
P/B 1.13 1.90 1.21
Price to free cash flow 4.60 17.83 10.80
EV/EBITDA n/m n/m —
EV/Sales 2.57 3.69 2.27
Earnings yield 8.86% 6.18% 8.11%
Free cash flow yield 21.73% 5.61% 8.98%

Profitability

Metric FFBC PRK Banks Regional median
Gross margin 73.45% 84.51% 69.57%
Operating margin 0.00% 0.00% 0.00%
Net margin 20.77% 25.77% 18.66%
Free cash flow margin 53.30% 24.96% 21.18%
Return on equity 10.29% 12.59% 10.64%
Return on assets 1.39% 1.68% 1.13%
Return on invested capital 7.09% 12.81% 8.33%

Growth

Metric FFBC PRK Banks Regional median
Revenue growth (TTM) 11.65% 11.57% 6.61%
EPS growth (last fiscal year) 10.83% 19.21% —
Revenue growth, 5-year CAGR 12.02% 6.57% 12.30%
Net income growth, 5-year CAGR 10.41% 7.08% 9.71%

Health

Metric FFBC PRK Banks Regional median
Debt to equity 0.32 0.00 0.22
Current ratio 0.85 0.95 0.94
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric FFBC PRK Banks Regional median
Dividend yield 4.22% 3.29% 3.75%
Payout ratio 0.33 0.49 0.27

Size

Metric FFBC PRK Banks Regional median
Market cap 3.33b 3.26b 921.07m

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