First Mid Bancshares, Inc. (FMBH) vs HBT Financial, Inc. (HBT)

First Mid Bancshares, Inc. and HBT Financial, Inc. are both Banks Regional companies. First Mid Bancshares, Inc. and HBT Financial, Inc. are of similar size ($1.3B and $1.3B). First Mid Bancshares, Inc. trades at the lower P/E: 12.3× against 15.5×. HBT Financial, Inc. grew revenue faster over the last twelve months: 13.3% against 10.4%. HBT Financial, Inc. has the higher net margin (23.4% vs 19.8%) and the lower return on invested capital (8.43% vs 9.74%). Both pay a dividend; HBT Financial, Inc. yields more (3.99% vs 3.04%). Across the 20 metrics below, First Mid Bancshares, Inc. leads on 13 and HBT Financial, Inc. on 7.

Valuation

Metric FMBH HBT Banks Regional median
P/E 12.31 15.49 12.15
P/S 2.59 3.98 2.37
P/B 1.19 1.72 1.21
Price to free cash flow 10.37 17.38 10.80
EV/EBITDA n/m n/m —
EV/Sales 2.05 4.03 2.27
Earnings yield 8.13% 6.46% 8.11%
Free cash flow yield 9.64% 5.76% 8.98%

Profitability

Metric FMBH HBT Banks Regional median
Gross margin 75.52% 80.95% 69.57%
Operating margin 0.00% 0.00% 0.00%
Net margin 19.76% 23.44% 18.66%
Free cash flow margin 25.00% 22.88% 21.18%
Return on equity 10.05% 11.56% 10.64%
Return on assets 1.19% 1.32% 1.13%
Return on invested capital 9.74% 8.43% 8.33%

Growth

Metric FMBH HBT Banks Regional median
Revenue growth (TTM) 10.35% 13.30% 6.61%
EPS growth (last fiscal year) 16.06% 7.96% —
Revenue growth, 5-year CAGR 18.01% 13.15% 12.30%
Net income growth, 5-year CAGR 15.17% 15.94% 9.71%

Health

Metric FMBH HBT Banks Regional median
Debt to equity 0.03 0.20 0.22
Current ratio 0.95 0.84 0.94
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric FMBH HBT Banks Regional median
Dividend yield 3.04% 3.99% 3.75%
Payout ratio 0.25 0.35 0.27

Size

Metric FMBH HBT Banks Regional median
Market cap 1.31b 1.30b 921.07m

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