First Bank (FRBA) vs Pioneer Bancorp, Inc. (PBFS)

First Bank and Pioneer Bancorp, Inc. are both Banks Regional companies. First Bank and Pioneer Bancorp, Inc. are of similar size ($435.4M and $431.5M). First Bank trades at the lower P/E: 10.3× against 25.6×. Pioneer Bancorp, Inc. grew revenue faster over the last twelve months: 15.1% against 2.77%. First Bank has the higher net margin (17.5% vs 12.5%) and the higher return on invested capital (9.34% vs 6.26%). Across the 19 metrics below, First Bank leads on 14 and Pioneer Bancorp, Inc. on 5.

Valuation

Metric FRBA PBFS Banks Regional median
P/E 10.35 25.60 12.15
P/S 1.82 3.18 2.37
P/B 0.98 1.31 1.21
Price to free cash flow 8.74 18.26 10.80
EV/EBITDA n/m n/m —
EV/Sales 1.51 2.85 2.27
Earnings yield 9.66% 3.91% 8.11%
Free cash flow yield 11.44% 5.48% 8.98%

Profitability

Metric FRBA PBFS Banks Regional median
Gross margin 61.42% 75.63% 69.57%
Operating margin 0.00% 0.00% 0.00%
Net margin 17.45% 12.49% 18.66%
Free cash flow margin 20.80% 17.40% 21.18%
Return on equity 9.72% 5.24% 10.64%
Return on assets 1.05% 0.76% 1.13%
Return on invested capital 9.34% 6.26% 8.33%

Growth

Metric FRBA PBFS Banks Regional median
Revenue growth (TTM) 2.77% 15.13% 6.61%
EPS growth (last fiscal year) 4.19% 43.80% —
Revenue growth, 5-year CAGR 20.80% 12.85% 12.30%
Net income growth, 5-year CAGR 17.55% 31.30% 9.71%

Health

Metric FRBA PBFS Banks Regional median
Debt to equity 0.61 0.00 0.22
Current ratio 1.11 1.00 0.94
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric FRBA PBFS Banks Regional median
Dividend yield 1.78% — 3.75%
Payout ratio 0.14 0.00 0.27

Size

Metric FRBA PBFS Banks Regional median
Market cap 435.42m 431.50m 921.07m

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