First Financial Bankshares, Inc. (FFIN) vs Fulton Financial Corporation (FULT)

First Financial Bankshares, Inc. and Fulton Financial Corporation are both Banks Regional companies. First Financial Bankshares, Inc. and Fulton Financial Corporation are of similar size ($4.6B and $4.4B). Fulton Financial Corporation trades at the lower P/E: 11.1× against 17.3×. First Financial Bankshares, Inc. grew revenue faster over the last twelve months: 9.46% against 0.82%. First Financial Bankshares, Inc. has the higher net margin (31.0% vs 20.1%) and the higher return on invested capital (14.5% vs 10.3%). Both pay a dividend; Fulton Financial Corporation yields more (4.63% vs 2.39%). Across the 20 metrics below, Fulton Financial Corporation leads on 12 and First Financial Bankshares, Inc. on 8.

Valuation

Metric FFIN FULT Banks Regional median
P/E 17.26 11.06 12.15
P/S 5.36 2.31 2.37
P/B 2.33 1.23 1.21
Price to free cash flow 14.20 10.79 10.80
EV/EBITDA n/m n/m —
EV/Sales 4.69 1.94 2.27
Earnings yield 5.79% 9.04% 8.11%
Free cash flow yield 7.04% 9.27% 8.98%

Profitability

Metric FFIN FULT Banks Regional median
Gross margin 76.77% 71.07% 69.57%
Operating margin 0.00% 0.00% 0.00%
Net margin 31.03% 20.10% 18.66%
Free cash flow margin 37.76% 21.45% 21.18%
Return on equity 14.41% 11.43% 10.64%
Return on assets 1.81% 1.16% 1.13%
Return on invested capital 14.47% 10.26% 8.33%

Growth

Metric FFIN FULT Banks Regional median
Revenue growth (TTM) 9.46% 0.82% 6.61%
EPS growth (last fiscal year) 13.46% 32.48% —
Revenue growth, 5-year CAGR 10.57% 14.26% 12.30%
Net income growth, 5-year CAGR 4.65% 16.74% 9.71%

Health

Metric FFIN FULT Banks Regional median
Debt to equity 0.00 0.14 0.22
Current ratio 0.67 0.92 0.94
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric FFIN FULT Banks Regional median
Dividend yield 2.39% 4.63% 3.75%
Payout ratio 0.45 0.35 0.27

Size

Metric FFIN FULT Banks Regional median
Market cap 4.61b 4.40b 921.07m

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