German American Bancorp, Inc. (GABC) vs Happen Inc. (HAPN)

German American Bancorp, Inc. and Happen Inc. are both Banks Regional companies. German American Bancorp, Inc. and Happen Inc. are of similar size ($1.9B and $1.8B). Happen Inc. trades at the lower P/E: 8.8× against 13.1×. German American Bancorp, Inc. grew revenue faster over the last twelve months: 21.7% against 11.6%. German American Bancorp, Inc. has the higher net margin (28.2% vs 14.0%) and the lower return on invested capital (8.62% vs 24.5%). Across the 18 metrics below, Happen Inc. leads on 10 and German American Bancorp, Inc. on 8.

Valuation

Metric GABC HAPN Banks Regional median
P/E 13.06 8.84 12.15
P/S 3.70 1.24 2.37
P/B 1.53 1.11 1.21
Price to free cash flow 10.17 n/m 10.80
EV/EBITDA n/m n/m —
EV/Sales 3.84 0.59 2.27
Earnings yield 7.66% 11.31% 8.11%
Free cash flow yield 9.83% (170.51%) 8.98%

Profitability

Metric GABC HAPN Banks Regional median
Gross margin 76.77% 75.19% 69.57%
Operating margin 0.00% 0.00% 0.00%
Net margin 28.24% 14.03% 18.66%
Free cash flow margin 36.33% (212.17%) 21.18%
Return on equity 12.46% 13.15% 10.64%
Return on assets 1.70% 1.68% 1.13%
Return on invested capital 8.62% 24.47% 8.33%

Growth

Metric GABC HAPN Banks Regional median
Revenue growth (TTM) 21.70% 11.62% 6.61%
EPS growth (last fiscal year) 8.13% 157.78% —
Revenue growth, 5-year CAGR 16.32% 23.29% 12.30%
Net income growth, 5-year CAGR 12.61% 0.00% 9.71%

Health

Metric GABC HAPN Banks Regional median
Debt to equity 0.14 0.00 0.22
Current ratio 0.86 0.72 0.94
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric GABC HAPN Banks Regional median
Dividend yield 3.40% — 3.75%
Payout ratio 0.31 0.00 0.27

Size

Metric GABC HAPN Banks Regional median
Market cap 1.85b 1.77b 921.07m

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