Fulton Financial Corporation (FULT) vs International Bancshares Corporation (IBOC)

Fulton Financial Corporation and International Bancshares Corporation are both Banks Regional companies. Fulton Financial Corporation and International Bancshares Corporation are of similar size ($4.4B and $4.3B). International Bancshares Corporation trades at the lower P/E: 10.5× against 11.1×. International Bancshares Corporation grew revenue faster over the last twelve months: 2.08% against 0.82%. International Bancshares Corporation has the higher net margin (38.8% vs 20.1%) and the higher return on invested capital (10.8% vs 10.3%). Both pay a dividend; Fulton Financial Corporation yields more (4.63% vs 2.39%). Across the 20 metrics below, International Bancshares Corporation leads on 13 and Fulton Financial Corporation on 7.

Valuation

Metric FULT IBOC Banks Regional median
P/E 11.06 10.53 12.15
P/S 2.31 4.09 2.37
P/B 1.23 1.29 1.21
Price to free cash flow 10.79 9.60 10.80
EV/EBITDA n/m n/m —
EV/Sales 1.94 3.77 2.27
Earnings yield 9.04% 9.49% 8.11%
Free cash flow yield 9.27% 10.41% 8.98%

Profitability

Metric FULT IBOC Banks Regional median
Gross margin 71.07% 80.72% 69.57%
Operating margin 0.00% 0.00% 0.00%
Net margin 20.10% 38.83% 18.66%
Free cash flow margin 21.45% 42.55% 21.18%
Return on equity 11.43% 12.92% 10.64%
Return on assets 1.16% 2.47% 1.13%
Return on invested capital 10.26% 10.76% 8.33%

Growth

Metric FULT IBOC Banks Regional median
Revenue growth (TTM) 0.82% 2.08% 6.61%
EPS growth (last fiscal year) 32.48% 0.76% —
Revenue growth, 5-year CAGR 14.26% 12.83% 12.30%
Net income growth, 5-year CAGR 16.74% 19.77% 9.71%

Health

Metric FULT IBOC Banks Regional median
Debt to equity 0.14 0.04 0.22
Current ratio 0.92 0.77 0.94
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric FULT IBOC Banks Regional median
Dividend yield 4.63% 2.39% 3.75%
Payout ratio 0.35 0.20 0.27

Size

Metric FULT IBOC Banks Regional median
Market cap 4.40b 4.32b 921.07m

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