Finward Bancorp (FNWD) vs MainStreet Bank (MNSB)

Finward Bancorp and MainStreet Bank are both Banks Regional companies. Finward Bancorp and MainStreet Bank are of similar size ($183.1M and $177.0M). MainStreet Bank trades at the lower P/E: 12.2× against 18.9×. Finward Bancorp grew revenue faster over the last twelve months: 0.15% against −6.22%. MainStreet Bank has the higher net margin (11.6% vs 9.65%) and the higher return on invested capital (8.06% vs 4.41%). Both pay a dividend; MainStreet Bank yields more (2.21% vs 2.03%). Across the 20 metrics below, MainStreet Bank leads on 18 and Finward Bancorp on 2.

Valuation

Metric FNWD MNSB Banks Regional median
P/E 18.93 12.17 12.15
P/S 1.82 1.36 2.37
P/B 1.04 0.95 1.21
Price to free cash flow 10.69 7.64 10.80
EV/EBITDA n/m n/m —
EV/Sales 1.53 1.01 2.27
Earnings yield 5.28% 8.22% 8.11%
Free cash flow yield 9.36% 13.09% 8.98%

Profitability

Metric FNWD MNSB Banks Regional median
Gross margin 67.76% 55.96% 69.57%
Operating margin 0.00% 0.00% 0.00%
Net margin 9.65% 11.59% 18.66%
Free cash flow margin 17.07% 17.81% 21.18%
Return on equity 5.90% 8.13% 10.64%
Return on assets 0.48% 0.70% 1.13%
Return on invested capital 4.41% 8.06% 8.33%

Growth

Metric FNWD MNSB Banks Regional median
Revenue growth (TTM) 0.15% (6.22%) 6.61%
EPS growth (last fiscal year) (33.80%) 210.00% —
Revenue growth, 5-year CAGR 7.69% 14.30% 12.30%
Net income growth, 5-year CAGR (12.68%) (2.25%) 9.71%

Health

Metric FNWD MNSB Banks Regional median
Debt to equity 0.36 0.33 0.22
Current ratio 0.88 1.06 0.94
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric FNWD MNSB Banks Regional median
Dividend yield 2.03% 2.21% 3.75%
Payout ratio 0.40 0.09 0.27

Size

Metric FNWD MNSB Banks Regional median
Market cap 183.11m 177.03m 921.07m

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