Nicolet Bankshares Inc. (NIC) vs Renasant Corporation (RNST)

Nicolet Bankshares Inc. and Renasant Corporation are both Banks Regional companies. Nicolet Bankshares Inc. and Renasant Corporation are of similar size ($3.7B and $3.5B). Renasant Corporation trades at the lower P/E: 12.0× against 18.6×. Nicolet Bankshares Inc. grew revenue faster over the last twelve months: 31.6% against 28.4%. Nicolet Bankshares Inc. has the higher net margin (21.8% vs 19.9%) and the higher return on invested capital (8.02% vs 6.92%). Both pay a dividend; Renasant Corporation yields more (2.90% vs 1.35%). Across the 20 metrics below, Nicolet Bankshares Inc. leads on 10 and Renasant Corporation on 10.

Valuation

Metric NIC RNST Banks Regional median
P/E 18.63 12.01 12.15
P/S 5.04 2.35 2.37
P/B 1.57 0.96 1.21
Price to free cash flow 19.88 8.43 10.80
EV/EBITDA n/m n/m —
EV/Sales 4.52 2.29 2.27
Earnings yield 5.37% 8.33% 8.11%
Free cash flow yield 5.03% 11.87% 8.98%

Profitability

Metric NIC RNST Banks Regional median
Gross margin 73.37% 69.57% 69.57%
Operating margin 0.00% 0.00% 0.00%
Net margin 21.77% 19.94% 18.66%
Free cash flow margin 25.38% 27.27% 21.18%
Return on equity 8.91% 8.21% 10.64%
Return on assets 1.27% 1.17% 1.13%
Return on invested capital 8.02% 6.92% 8.33%

Growth

Metric NIC RNST Banks Regional median
Revenue growth (TTM) 31.61% 28.39% 6.61%
EPS growth (last fiscal year) 21.49% (36.70%) —
Revenue growth, 5-year CAGR 21.31% 14.50% 12.30%
Net income growth, 5-year CAGR 20.17% 16.73% 9.71%

Health

Metric NIC RNST Banks Regional median
Debt to equity 0.04 0.21 0.22
Current ratio 0.90 0.91 0.94
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric NIC RNST Banks Regional median
Dividend yield 1.35% 2.90% 3.75%
Payout ratio 0.00 0.30 0.27

Size

Metric NIC RNST Banks Regional median
Market cap 3.51b 3.66b 921.07m

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