SmartFinancial, Inc. (SMBK) vs South Plains Financial, Inc. (SPFI)

SmartFinancial, Inc. and South Plains Financial, Inc. are both Banks Regional companies. SmartFinancial, Inc. and South Plains Financial, Inc. are of similar size ($860.1M and $807.3M). South Plains Financial, Inc. trades at the lower P/E: 11.3× against 14.7×. SmartFinancial, Inc. grew revenue faster over the last twelve months: 11.1% against 6.59%. South Plains Financial, Inc. has the higher net margin (20.8% vs 17.1%) and the lower return on invested capital (0.00% vs 15.2%). Both pay a dividend; South Plains Financial, Inc. yields more (2.08% vs 1.56%). Across the 20 metrics below, South Plains Financial, Inc. leads on 14 and SmartFinancial, Inc. on 6.

Valuation

Metric SMBK SPFI Banks Regional median
P/E 14.71 11.26 12.15
P/S 2.53 2.62 2.37
P/B 1.47 1.30 1.21
Price to free cash flow 12.55 10.87 10.80
EV/EBITDA n/m n/m —
EV/Sales 1.69 0.30 2.27
Earnings yield 6.80% 8.88% 8.11%
Free cash flow yield 7.97% 9.20% 8.98%

Profitability

Metric SMBK SPFI Banks Regional median
Gross margin 63.90% 72.40% 69.57%
Operating margin 0.00% 0.00% 0.00%
Net margin 17.12% 20.79% 18.66%
Free cash flow margin 20.12% 24.14% 21.18%
Return on equity 10.47% 12.01% 10.64%
Return on assets 0.99% 1.33% 1.13%
Return on invested capital 15.22% 0.00% 8.33%

Growth

Metric SMBK SPFI Banks Regional median
Revenue growth (TTM) 11.14% 6.59% 6.61%
EPS growth (last fiscal year) 39.25% 17.81% —
Revenue growth, 5-year CAGR 19.21% 4.36% 12.30%
Net income growth, 5-year CAGR 15.65% 5.21% 9.71%

Health

Metric SMBK SPFI Banks Regional median
Debt to equity 0.17 0.10 0.22
Current ratio 0.93 0.97 0.94
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric SMBK SPFI Banks Regional median
Dividend yield 1.56% 2.08% 3.75%
Payout ratio 0.15 0.13 0.27

Size

Metric SMBK SPFI Banks Regional median
Market cap 860.05m 807.26m 921.07m

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