Five Star Bancorp (FSBC) vs Horizon Bancorp (IN) (HBNC)

Five Star Bancorp and Horizon Bancorp (IN) are both Banks Regional companies. Five Star Bancorp and Horizon Bancorp (IN) are of similar size ($1.1B and $1.1B). Horizon Bancorp (IN) has negative trailing earnings, so its P/E is not meaningful; Five Star Bancorp trades at 12.4×. Five Star Bancorp grew revenue faster over the last twelve months: 18.1% against −74.2%. Five Star Bancorp has the higher net margin (26.6% vs −149.0%) and the higher return on invested capital (10.5% vs −17.9%). Both pay a dividend; Horizon Bancorp (IN) yields more (3.06% vs 2.28%). Across the 18 metrics below, Five Star Bancorp leads on 13 and Horizon Bancorp (IN) on 5.

Valuation

Metric FSBC HBNC Banks Regional median
P/E 12.42 n/m 12.02
P/S 3.55 11.04 2.36
P/B 1.68 1.47 1.23
Price to free cash flow 11.76 11.34 10.60
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 8.05% (15.13%) 8.21%
Free cash flow yield 8.50% 8.82% 9.23%

Profitability

Metric FSBC HBNC Banks Regional median
Gross margin 64.80% (13.47%) 69.81%
Operating margin 0.00% 0.00% 0.00%
Net margin 26.58% (148.95%) 18.82%
Free cash flow margin 30.17% 97.31% 17.97%
Return on equity 14.80% (18.98%) 10.28%
Return on assets 1.52% (2.02%) 1.13%
Return on invested capital 10.50% (17.93%) 8.45%

Growth

Metric FSBC HBNC Banks Regional median
Revenue growth (TTM) 18.14% (74.21%) 6.37%
EPS growth (last fiscal year) 28.32% (493.75%) 18.85%
Revenue growth, 5-year CAGR 25.01% (16.35%) 12.65%
Net income growth, 5-year CAGR 11.39% 0.00% 9.81%

Health

Metric FSBC HBNC Banks Regional median
Debt to equity 0.00 0.22 0.17
Current ratio 1.06 0.92 0.93
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric FSBC HBNC Banks Regional median
Dividend yield 2.28% 3.06% 2.49%
Payout ratio 0.28 — 0.29

Size

Metric FSBC HBNC Banks Regional median
Market cap 1.07b 1.07b 934.85m

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