Financial Institutions, Inc. (FISI) vs Washington Trust Bancorp, Inc. (WASH)

Financial Institutions, Inc. and Washington Trust Bancorp, Inc. are both Banks Regional companies. Financial Institutions, Inc. and Washington Trust Bancorp, Inc. are of similar size ($788.6M and $738.6M). Financial Institutions, Inc. trades at the lower P/E: 9.8× against 13.4×. Financial Institutions, Inc. grew revenue faster over the last twelve months: 46.3% against 24.9%. Financial Institutions, Inc. has the higher net margin (21.4% vs 14.5%) and the higher return on invested capital (10.0% vs 4.90%). Both pay a dividend; Washington Trust Bancorp, Inc. yields more (8.74% vs 6.57%). Across the 20 metrics below, Financial Institutions, Inc. leads on 13 and Washington Trust Bancorp, Inc. on 7.

Valuation

Metric FISI WASH Banks Regional median
P/E 9.84 13.35 12.15
P/S 2.09 1.94 2.37
P/B 1.26 1.34 1.21
Price to free cash flow 14.06 7.73 10.80
EV/EBITDA n/m n/m —
EV/Sales 2.03 2.86 2.27
Earnings yield 10.17% 7.49% 8.11%
Free cash flow yield 7.11% 12.94% 8.98%

Profitability

Metric FISI WASH Banks Regional median
Gross margin 67.21% 61.25% 69.57%
Operating margin 0.00% 0.00% 0.00%
Net margin 21.40% 14.50% 18.66%
Free cash flow margin 14.85% 25.09% 21.18%
Return on equity 13.41% 10.25% 10.64%
Return on assets 1.30% 0.83% 1.13%
Return on invested capital 10.00% 4.90% 8.33%

Growth

Metric FISI WASH Banks Regional median
Revenue growth (TTM) 46.26% 24.92% 6.61%
EPS growth (last fiscal year) 235.94% 266.26% —
Revenue growth, 5-year CAGR 13.07% 7.90% 12.30%
Net income growth, 5-year CAGR 14.77% (5.60%) 9.71%

Health

Metric FISI WASH Banks Regional median
Debt to equity 0.12 0.86 0.22
Current ratio 0.88 0.97 0.94
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric FISI WASH Banks Regional median
Dividend yield 6.57% 8.74% 3.75%
Payout ratio 0.36 0.65 0.27

Size

Metric FISI WASH Banks Regional median
Market cap 788.55m 738.56m 921.07m

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