FirstSun Capital Bancorp (FSUN) vs Happen Inc. (HAPN)

FirstSun Capital Bancorp and Happen Inc. are both Banks Regional companies. FirstSun Capital Bancorp and Happen Inc. are of similar size ($1.8B and $1.7B). Happen Inc. trades at the lower P/E: 8.8× against 19.9×. FirstSun Capital Bancorp grew revenue faster over the last twelve months: 27.6% against 11.6%. Happen Inc. has the higher net margin (14.0% vs 6.60%) and the higher return on invested capital (24.5% vs 7.20%). Across the 18 metrics below, Happen Inc. leads on 12 and FirstSun Capital Bancorp on 6.

Valuation

Metric FSUN HAPN Banks Regional median
P/E 19.87 8.84 12.15
P/S 2.62 1.24 2.37
P/B 1.01 1.11 1.21
Price to free cash flow 1.60 n/m 10.80
EV/EBITDA n/m n/m —
EV/Sales 1.52 0.59 2.27
Earnings yield 5.03% 11.31% 8.11%
Free cash flow yield 62.31% (170.51%) 8.98%

Profitability

Metric FSUN HAPN Banks Regional median
Gross margin 72.28% 75.19% 69.57%
Operating margin 0.00% 0.00% 0.00%
Net margin 6.60% 14.03% 18.66%
Free cash flow margin 163.46% (212.17%) 21.18%
Return on equity 3.19% 13.15% 10.64%
Return on assets 0.39% 1.68% 1.13%
Return on invested capital 7.20% 24.47% 8.33%

Growth

Metric FSUN HAPN Banks Regional median
Revenue growth (TTM) 27.56% 11.62% 6.61%
EPS growth (last fiscal year) 29.00% 157.78% —
Revenue growth, 5-year CAGR 13.29% 23.29% 12.30%
Net income growth, 5-year CAGR 15.53% 0.00% 9.71%

Health

Metric FSUN HAPN Banks Regional median
Debt to equity 0.11 0.00 0.22
Current ratio 0.92 0.72 0.94
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric FSUN HAPN Banks Regional median
Dividend yield — — 3.75%
Payout ratio — 0.00 0.27

Size

Metric FSUN HAPN Banks Regional median
Market cap 1.72b 1.77b 921.07m

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