National Bank Holdings Corporation (NBHC) vs S&T Bancorp, Inc. (STBA)

National Bank Holdings Corporation and S&T Bancorp, Inc. are both Banks Regional companies. National Bank Holdings Corporation and S&T Bancorp, Inc. are of similar size ($1.8B and $1.8B). S&T Bancorp, Inc. trades at the lower P/E: 13.1× against 16.9×. National Bank Holdings Corporation grew revenue faster over the last twelve months: 9.28% against 2.45%. S&T Bancorp, Inc. has the higher net margin (24.5% vs 15.1%) and the higher return on invested capital (8.71% vs 4.67%). Both pay a dividend; S&T Bancorp, Inc. yields more (4.12% vs 3.21%). Across the 20 metrics below, S&T Bancorp, Inc. leads on 13 and National Bank Holdings Corporation on 7.

Valuation

Metric NBHC STBA Banks Regional median
P/E 16.88 13.15 12.15
P/S 2.75 3.10 2.37
P/B 1.07 1.27 1.21
Price to free cash flow 12.36 12.44 10.80
EV/EBITDA n/m n/m —
EV/Sales 2.67 2.85 2.27
Earnings yield 5.92% 7.61% 8.11%
Free cash flow yield 8.09% 8.04% 8.98%

Profitability

Metric NBHC STBA Banks Regional median
Gross margin 71.31% 72.44% 69.57%
Operating margin 0.00% 0.00% 0.00%
Net margin 15.11% 24.51% 18.66%
Free cash flow margin 22.25% 24.94% 21.18%
Return on equity 6.53% 9.87% 10.64%
Return on assets 0.87% 1.42% 1.13%
Return on invested capital 4.67% 8.71% 8.33%

Growth

Metric NBHC STBA Banks Regional median
Revenue growth (TTM) 9.28% 2.45% 6.61%
EPS growth (last fiscal year) (7.47%) 2.35% —
Revenue growth, 5-year CAGR 10.39% 8.38% 12.30%
Net income growth, 5-year CAGR 4.34% 44.96% 9.71%

Health

Metric NBHC STBA Banks Regional median
Debt to equity 0.20 0.05 0.22
Current ratio 0.97 0.99 0.94
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric NBHC STBA Banks Regional median
Dividend yield 3.21% 4.12% 3.75%
Payout ratio 0.35 0.32 0.27

Size

Metric NBHC STBA Banks Regional median
Market cap 1.78b 1.75b 921.07m

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