First National Corp. (FXNC) vs QNB Corp. (QNBC)

First National Corp. and QNB Corp. are both Banks Regional companies. First National Corp. and QNB Corp. are of similar size ($291.4M and $274.9M). QNB Corp. has negative trailing earnings, so its P/E is not meaningful; First National Corp. trades at 12.7×. First National Corp. grew revenue faster over the last twelve months: 7.66% against −8.86%. First National Corp. has the higher net margin (18.4% vs −5.63%) and the higher return on invested capital (37.4% vs 0.00%). Both pay a dividend; QNB Corp. yields more (3.30% vs 2.22%). Across the 18 metrics below, First National Corp. leads on 14 and QNB Corp. on 4.

Valuation

Metric FXNC QNBC Banks Regional median
P/E 12.68 n/m 12.02
P/S 2.35 2.91 2.36
P/B 1.43 1.15 1.23
Price to free cash flow 9.90 10.82 10.60
EV/EBITDA — n/m —
EV/Sales — 1.81 —
Earnings yield 7.88% (0.53%) 8.21%
Free cash flow yield 10.11% 9.24% 9.23%

Profitability

Metric FXNC QNBC Banks Regional median
Gross margin 79.28% 51.09% 69.81%
Operating margin 0.00% 0.00% 0.00%
Net margin 18.43% (5.63%) 18.82%
Free cash flow margin 23.75% 26.92% 17.97%
Return on equity 11.81% (2.88%) 10.28%
Return on assets 1.05% (0.24%) 1.13%
Return on invested capital 37.41% 0.00% 8.45%

Growth

Metric FXNC QNBC Banks Regional median
Revenue growth (TTM) 7.66% (8.86%) 6.37%
EPS growth (last fiscal year) 96.00% 21.15% 18.85%
Revenue growth, 5-year CAGR 23.17% 14.19% 12.65%
Net income growth, 5-year CAGR 14.85% 3.12% 9.81%

Health

Metric FXNC QNBC Banks Regional median
Debt to equity 0.09 0.00 0.17
Current ratio 0.88 0.84 0.93
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric FXNC QNBC Banks Regional median
Dividend yield 2.22% 3.30% 2.49%
Payout ratio 0.28 0.46 0.29

Size

Metric FXNC QNBC Banks Regional median
Market cap 274.88m 291.40m 934.85m

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