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Metrics | Range | Conclusion |
---|---|---|
Selected LTM P/E Multiple | 9.2x - 10.2x | 9.7x |
Selected Fwd P/E Multiple | 8.4x - 9.2x | 8.8x |
Fair Value | €49.77 - €55.01 | €52.39 |
Upside | -14.2% - -5.2% | -9.7% |
Benchmarks | - | Full Ticker |
Simmons First National Corporation | - | NasdaqGS:SFNC |
First Financial Bancorp. | - | NasdaqGS:FFBC |
TowneBank | - | NasdaqGS:TOWN |
Banner Corporation | - | NasdaqGS:BANR |
First Financial Bankshares, Inc. | - | NasdaqGS:FFIN |
International Bancshares Corporation | - | DB:IB4 |
- | - | - |
Select Price / LTM EPS Ratio | ||||||||
Benchmark Companies | ||||||||
SFNC | FFBC | TOWN | BANR | FFIN | IB4 | |||
NasdaqGS:SFNC | NasdaqGS:FFBC | NasdaqGS:TOWN | NasdaqGS:BANR | NasdaqGS:FFIN | DB:IB4 | |||
Historical Net Income Growth | ||||||||
5Y CAGR | -8.5% | 2.9% | 3.1% | 2.9% | 6.3% | 14.8% | ||
3Y CAGR | -17.4% | 3.7% | -9.1% | -5.6% | -0.6% | 17.2% | ||
Latest Twelve Months | 6.3% | 3.2% | 14.8% | 9.9% | 22.0% | 2.0% | ||
Historical Net Income Profit Margin | ||||||||
5 Year Average Margin | 27.2% | 31.1% | 27.1% | 29.3% | 43.2% | 45.6% | ||
Prior Fiscal Year | 23.0% | 32.2% | 22.8% | 30.1% | 41.4% | 51.5% | ||
Latest Fiscal Year | 20.9% | 30.3% | 23.3% | 28.1% | 41.6% | 51.0% | ||
Latest Twelve Months | 21.6% | 30.5% | 23.4% | 29.2% | 42.5% | 50.8% | ||
Current Trading Multiples | ||||||||
EV / LTM EBITDA | NA | NA | NA | NA | NA | NA | ||
Price / LTM Sales | 3.8x | 3.0x | 3.6x | 3.6x | 8.5x | 5.3x | ||
LTM P/E Ratio | 17.7x | 9.8x | 15.5x | 12.3x | 20.0x | 10.4x | ||
Low | Mid | High | ||||||
Benchmark LTM P/E Ratio | 9.8x | 15.5x | 20.0x | |||||
Historical LTM P/E Ratio | 8.2x | 10.9x | 13.9x | |||||
Selected P/E Multiple | 9.2x | 9.7x | 10.2x | |||||
(x) LTM Net Income | 412 | 412 | 412 | |||||
(=) Equity Value | 3,804 | 4,004 | 4,205 | |||||
(/) Shares Outstanding | 62.2 | 62.2 | 62.2 | |||||
Implied Value Range | 61.20 | 64.42 | 67.64 | |||||
FX Rate: USD/EUR | 1.2 | 1.2 | 1.2 | Market Price | ||||
Implied Value Range (Trading Cur) | 52.39 | 55.15 | 57.90 | 58.00 | ||||
Upside / (Downside) | -9.7% | -4.9% | -0.2% |
Equity Value | |||||||
Benchmark Companies | |||||||
(in millions) | SFNC | FFBC | TOWN | BANR | FFIN | IB4 | |
Value of Common Equity | 2,752 | 2,263 | 2,618 | 2,157 | 4,820 | 4,212 | |
(/) Shares Outstanding | 144.7 | 95.8 | 74.3 | 34.6 | 142.2 | 62.2 | |
Implied Stock Price | 19.02 | 23.63 | 35.23 | 62.36 | 33.90 | 67.76 | |
FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.17 | |
Implied Stock Price (Trading Cur) | 19.02 | 23.63 | 35.23 | 62.36 | 33.90 | 58.00 | |
Trading Currency | USD | USD | USD | USD | USD | EUR | |
FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.17 |