Finward Bancorp (FNWD) vs Landmark Bancorp Inc. (LARK)

Finward Bancorp and Landmark Bancorp Inc. are both Banks Regional companies. Finward Bancorp and Landmark Bancorp Inc. are of similar size ($191.1M and $183.1M). Landmark Bancorp Inc. trades at the lower P/E: 9.7× against 18.9×. Landmark Bancorp Inc. grew revenue faster over the last twelve months: 6.39% against 0.15%. Landmark Bancorp Inc. has the higher net margin (20.6% vs 9.65%) and the higher return on invested capital (6.52% vs 4.41%). Both pay a dividend; Landmark Bancorp Inc. yields more (4.23% vs 2.03%). Across the 20 metrics below, Landmark Bancorp Inc. leads on 14 and Finward Bancorp on 6.

Valuation

Metric FNWD LARK Banks Regional median
P/E 18.93 9.69 12.15
P/S 1.82 1.99 2.37
P/B 1.04 1.17 1.21
Price to free cash flow 10.69 8.32 10.80
EV/EBITDA n/m n/m —
EV/Sales 1.53 2.74 2.27
Earnings yield 5.28% 10.32% 8.11%
Free cash flow yield 9.36% 12.02% 8.98%

Profitability

Metric FNWD LARK Banks Regional median
Gross margin 67.76% 76.42% 69.57%
Operating margin 0.00% 0.00% 0.00%
Net margin 9.65% 20.56% 18.66%
Free cash flow margin 17.07% 23.94% 21.18%
Return on equity 5.90% 12.77% 10.64%
Return on assets 0.48% 1.25% 1.13%
Return on invested capital 4.41% 6.52% 8.33%

Growth

Metric FNWD LARK Banks Regional median
Revenue growth (TTM) 0.15% 6.39% 6.61%
EPS growth (last fiscal year) (33.80%) 42.63% —
Revenue growth, 5-year CAGR 7.69% 7.58% 12.30%
Net income growth, 5-year CAGR (12.68%) (0.75%) 9.71%

Health

Metric FNWD LARK Banks Regional median
Debt to equity 0.36 0.63 0.22
Current ratio 0.88 0.87 0.94
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric FNWD LARK Banks Regional median
Dividend yield 2.03% 4.23% 3.75%
Payout ratio 0.40 0.41 0.27

Size

Metric FNWD LARK Banks Regional median
Market cap 183.11m 191.07m 921.07m

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