Nicolet Bankshares Inc. (NIC) vs WesBanco, Inc. (WSBC)

Nicolet Bankshares Inc. and WesBanco, Inc. are both Banks Regional companies. Nicolet Bankshares Inc. and WesBanco, Inc. are of similar size ($3.7B and $3.5B). WesBanco, Inc. trades at the lower P/E: 11.2× against 18.6×. Nicolet Bankshares Inc. grew revenue faster over the last twelve months: 31.6% against 31.3%. WesBanco, Inc. has the higher net margin (21.8% vs 21.8%) and the lower return on invested capital (5.95% vs 8.02%). Both pay a dividend; WesBanco, Inc. yields more (5.12% vs 1.35%). Across the 20 metrics below, WesBanco, Inc. leads on 11 and Nicolet Bankshares Inc. on 9.

Valuation

Metric NIC WSBC Banks Regional median
P/E 18.63 11.21 12.15
P/S 5.04 2.44 2.37
P/B 1.57 0.96 1.21
Price to free cash flow 19.88 9.43 10.80
EV/EBITDA n/m n/m —
EV/Sales 4.52 2.95 2.27
Earnings yield 5.37% 8.92% 8.11%
Free cash flow yield 5.03% 10.60% 8.98%

Profitability

Metric NIC WSBC Banks Regional median
Gross margin 73.37% 69.54% 69.57%
Operating margin 0.00% 0.00% 0.00%
Net margin 21.77% 21.78% 18.66%
Free cash flow margin 25.38% 25.81% 21.18%
Return on equity 8.91% 8.78% 10.64%
Return on assets 1.27% 1.20% 1.13%
Return on invested capital 8.02% 5.95% 8.33%

Growth

Metric NIC WSBC Banks Regional median
Revenue growth (TTM) 31.61% 31.26% 6.61%
EPS growth (last fiscal year) 21.49% (1.33%) —
Revenue growth, 5-year CAGR 21.31% 16.53% 12.30%
Net income growth, 5-year CAGR 20.17% 11.15% 9.71%

Health

Metric NIC WSBC Banks Regional median
Debt to equity 0.04 0.40 0.22
Current ratio 0.90 0.94 0.94
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric NIC WSBC Banks Regional median
Dividend yield 1.35% 5.12% 3.75%
Payout ratio 0.00 0.45 0.27

Size

Metric NIC WSBC Banks Regional median
Market cap 3.51b 3.68b 921.07m

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