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Metrics | Range | Conclusion |
---|---|---|
Selected LTM P/E Multiple | 8.1x - 8.9x | 8.5x |
Selected Fwd P/E Multiple | 7.2x - 8.0x | 7.6x |
Fair Value | $30.44 - $33.64 | $32.04 |
Upside | -13.8% - -4.8% | -9.3% |
Benchmarks | - | Full Ticker |
Richmond Mutual Bancorporation, Inc. | - | NasdaqCM:RMBI |
LCNB Corp. | - | NasdaqCM:LCNB |
City Holding Company | - | NasdaqGS:CHCO |
Citizens Holding Company | - | OTCPK:CIZN |
MainStreet Bancshares, Inc. | - | NasdaqCM:MNSB |
Southern States Bancshares, Inc. | - | NasdaqGS:SSBK |
- | - | - |
Select Price / LTM EPS Ratio | ||||||||
Benchmark Companies | ||||||||
RMBI | LCNB | CHCO | CIZN | MNSB | SSBK | |||
NasdaqCM:RMBI | NasdaqCM:LCNB | NasdaqGS:CHCO | OTCPK:CIZN | NasdaqCM:MNSB | NasdaqGS:SSBK | |||
Historical Net Income Growth | ||||||||
5Y CAGR | NM- | -6.6% | 5.6% | -1.4% | NM- | 44.2% | ||
3Y CAGR | -5.6% | -13.7% | 10.0% | -9.9% | NM- | 23.4% | ||
Latest Twelve Months | 0.3% | 55.9% | -1.3% | 24.8% | -166.3% | 14.5% | ||
Historical Net Income Profit Margin | ||||||||
5 Year Average Margin | 20.1% | 24.3% | 39.6% | 14.9% | 27.9% | 34.3% | ||
Prior Fiscal Year | 22.7% | 18.0% | 39.5% | 4.9% | 31.1% | 38.5% | ||
Latest Fiscal Year | 21.9% | 16.9% | 39.8% | 12.0% | -20.5% | 37.0% | ||
Latest Twelve Months | 21.0% | 19.4% | 39.8% | 10.0% | -21.7% | 37.5% | ||
Current Trading Multiples | ||||||||
EV / LTM EBITDA | NA | NA | NA | NA | NA | NA | ||
Price / LTM Sales | 3.1x | 2.5x | 5.9x | 1.1x | 2.4x | 3.5x | ||
LTM P/E Ratio | 15.0x | 13.0x | 14.7x | 10.7x | -10.9x | 9.5x | ||
Low | Mid | High | ||||||
Benchmark LTM P/E Ratio | -10.9x | 13.0x | 15.0x | |||||
Historical LTM P/E Ratio | 7.7x | 10.0x | 12.3x | |||||
Selected P/E Multiple | 8.1x | 8.5x | 8.9x | |||||
(x) LTM Net Income | 37 | 37 | 37 | |||||
(=) Equity Value | 300 | 316 | 332 | |||||
(/) Shares Outstanding | 9.9 | 9.9 | 9.9 | |||||
Implied Value Range | 30.27 | 31.86 | 33.46 | |||||
FX Rate: USD/USD | 1.0 | 1.0 | 1.0 | Market Price | ||||
Implied Value Range (Trading Cur) | 30.27 | 31.86 | 33.46 | 35.33 | ||||
Upside / (Downside) | -14.3% | -9.8% | -5.3% |
Equity Value | |||||||
Benchmark Companies | |||||||
(in millions) | RMBI | LCNB | CHCO | CIZN | MNSB | SSBK | |
Value of Common Equity | 135 | 209 | 1,721 | 48 | 142 | 351 | |
(/) Shares Outstanding | 9.6 | 14.2 | 14.5 | 5.6 | 7.5 | 9.9 | |
Implied Stock Price | 14.00 | 14.74 | 118.80 | 8.50 | 19.05 | 35.33 | |
FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
Implied Stock Price (Trading Cur) | 14.00 | 14.74 | 118.80 | 8.50 | 19.05 | 35.33 | |
Trading Currency | USD | USD | USD | USD | USD | USD | |
FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 |