Glacier Bancorp, Inc. (GBCI) vs United Bankshares, Inc. (UBSI)

Glacier Bancorp, Inc. and United Bankshares, Inc. are both Banks Regional companies. Glacier Bancorp, Inc. and United Bankshares, Inc. are of similar size ($6.3B and $5.8B). United Bankshares, Inc. trades at the lower P/E: 12.7× against 18.3×. Glacier Bancorp, Inc. grew revenue faster over the last twelve months: 20.0% against 7.97%. United Bankshares, Inc. has the higher net margin (28.0% vs 19.7%) and the higher return on invested capital (10.2% vs 6.90%). Both pay a dividend; United Bankshares, Inc. yields more (4.32% vs 3.61%). Across the 20 metrics below, United Bankshares, Inc. leads on 16 and Glacier Bancorp, Inc. on 4.

Valuation

Metric GBCI UBSI Banks Regional median
P/E 18.34 12.73 12.15
P/S 3.69 3.51 2.37
P/B 1.35 1.17 1.21
Price to free cash flow 14.06 11.81 10.80
EV/EBITDA n/m n/m —
EV/Sales 3.17 2.67 2.27
Earnings yield 5.45% 7.85% 8.11%
Free cash flow yield 7.11% 8.47% 8.98%

Profitability

Metric GBCI UBSI Banks Regional median
Gross margin 75.40% 69.61% 69.57%
Operating margin 0.00% 0.00% 0.00%
Net margin 19.72% 27.97% 18.66%
Free cash flow margin 26.22% 29.05% 21.18%
Return on equity 7.95% 9.47% 10.64%
Return on assets 1.03% 1.55% 1.13%
Return on invested capital 6.90% 10.17% 8.33%

Growth

Metric GBCI UBSI Banks Regional median
Revenue growth (TTM) 20.04% 7.97% 6.61%
EPS growth (last fiscal year) 18.45% 18.91% —
Revenue growth, 5-year CAGR 12.43% 9.57% 12.30%
Net income growth, 5-year CAGR (2.15%) 9.96% 9.71%

Health

Metric GBCI UBSI Banks Regional median
Debt to equity 0.06 0.10 0.22
Current ratio 0.84 0.98 0.94
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric GBCI UBSI Banks Regional median
Dividend yield 3.61% 4.32% 3.75%
Payout ratio 0.53 0.49 0.27

Size

Metric GBCI UBSI Banks Regional median
Market cap 5.77b 6.34b 921.07m

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