Horizon Bancorp (IN) (HBNC) vs MetroCity Bankshares, Inc. (MCBS)

Horizon Bancorp (IN) and MetroCity Bankshares, Inc. are both Banks Regional companies. Horizon Bancorp (IN) and MetroCity Bankshares, Inc. are of similar size ($1.0B and $986.8M). Horizon Bancorp (IN) has negative trailing earnings, so its P/E is not meaningful; MetroCity Bankshares, Inc. trades at 12.0×. MetroCity Bankshares, Inc. grew revenue faster over the last twelve months: 19.3% against −74.2%. MetroCity Bankshares, Inc. has the higher net margin (28.3% vs −149.0%) and the higher return on invested capital (10.5% vs −17.9%). Both pay a dividend; Horizon Bancorp (IN) yields more (5.37% vs 3.45%). Across the 19 metrics below, MetroCity Bankshares, Inc. leads on 13 and Horizon Bancorp (IN) on 6.

Valuation

Metric HBNC MCBS Banks Regional median
P/E n/m 11.98 12.15
P/S 10.20 3.56 2.37
P/B 1.36 1.77 1.21
Price to free cash flow 10.49 12.31 10.80
EV/EBITDA n/m n/m —
EV/Sales 9.56 3.95 2.27
Earnings yield (16.36%) 8.35% 8.11%
Free cash flow yield 9.54% 8.13% 8.98%

Profitability

Metric HBNC MCBS Banks Regional median
Gross margin (13.47%) 64.72% 69.57%
Operating margin 0.00% 0.00% 0.00%
Net margin (148.95%) 28.34% 18.66%
Free cash flow margin 97.31% 28.95% 21.18%
Return on equity (18.98%) 15.91% 10.64%
Return on assets (2.02%) 1.96% 1.13%
Return on invested capital (17.93%) 10.53% 8.33%

Growth

Metric HBNC MCBS Banks Regional median
Revenue growth (TTM) (74.21%) 19.32% 6.61%
EPS growth (last fiscal year) (493.75%) 4.76% —
Revenue growth, 5-year CAGR (16.35%) 18.60% 12.30%
Net income growth, 5-year CAGR 0.00% 13.49% 9.71%

Health

Metric HBNC MCBS Banks Regional median
Debt to equity 0.22 0.66 0.22
Current ratio 0.92 1.21 0.94
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric HBNC MCBS Banks Regional median
Dividend yield 5.37% 3.45% 3.75%
Payout ratio 0.34 0.30 0.27

Size

Metric HBNC MCBS Banks Regional median
Market cap 986.84m 1.00b 921.07m

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