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FIRST BANCSHARES INC/MS (FBMS) Stock Fundamental Analysis

NYSE:FBMS - New York Stock Exchange, Inc. - US3189161033 - Common Stock - Currency: USD

33.81  +0.16 (+0.48%)

After market: 33.81 0 (0%)

Fundamental Rating

4

Overall FBMS gets a fundamental rating of 4 out of 10. We evaluated FBMS against 398 industry peers in the Banks industry. FBMS has a bad profitability rating. Also its financial health evaluation is rather negative. FBMS is not valued too expensively and it also shows a decent growth rate.


Dividend Valuation Growth Profitability Health

3

1. Profitability

1.1 Basic Checks

In the past year FBMS was profitable.
FBMS had a positive operating cash flow in the past year.
In the past 5 years FBMS has always been profitable.
Each year in the past 5 years FBMS had a positive operating cash flow.
FBMS Yearly Net Income VS EBIT VS OCF VS FCFFBMS Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M 100M

1.2 Ratios

FBMS has a better Return On Assets (0.96%) than 64.02% of its industry peers.
With a Return On Equity value of 7.68%, FBMS perfoms like the industry average, outperforming 44.91% of the companies in the same industry.
Industry RankSector Rank
ROA 0.96%
ROE 7.68%
ROIC N/A
ROA(3y)0.96%
ROA(5y)0.99%
ROE(3y)8.45%
ROE(5y)8.6%
ROIC(3y)N/A
ROIC(5y)N/A
FBMS Yearly ROA, ROE, ROICFBMS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2 4 6 8

1.3 Margins

FBMS has a better Profit Margin (27.18%) than 71.22% of its industry peers.
In the last couple of years the Profit Margin of FBMS has declined.
FBMS does not have Operating Margin and Gross Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) 27.18%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-6.26%
PM growth 5Y-1.55%
GM growth 3YN/A
GM growth 5YN/A
FBMS Yearly Profit, Operating, Gross MarginsFBMS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30

3

2. Health

2.1 Basic Checks

FBMS does not have a ROIC to compare to the WACC, probably because it is not profitable.
The number of shares outstanding for FBMS has been increased compared to 1 year ago.
FBMS has more shares outstanding than it did 5 years ago.
FBMS has about the same debt/assets ratio as last year.
FBMS Yearly Shares OutstandingFBMS Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10M 20M 30M
FBMS Yearly Total Debt VS Total AssetsFBMS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B

2.2 Solvency

FBMS has a debt to FCF ratio of 1.52. This is a very positive value and a sign of high solvency as it would only need 1.52 years to pay back of all of its debts.
FBMS has a better Debt to FCF ratio (1.52) than 62.78% of its industry peers.
A Debt/Equity ratio of 0.12 indicates that FBMS is not too dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.12, FBMS is in the better half of the industry, outperforming 68.49% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.12
Debt/FCF 1.52
Altman-Z N/A
ROIC/WACCN/A
WACC13.23%
FBMS Yearly LT Debt VS Equity VS FCFFBMS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
FBMS Yearly Current Assets VS Current LiabilitesFBMS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5M 10M 15M 20M 25M

4

3. Growth

3.1 Past

FBMS shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 1.67%.
Measured over the past years, FBMS shows a decrease in Earnings Per Share. The EPS has been decreasing by -2.65% on average per year.
FBMS shows a decrease in Revenue. In the last year, the revenue decreased by -4.05%.
FBMS shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 13.82% yearly.
EPS 1Y (TTM)1.67%
EPS 3Y-7.07%
EPS 5Y-2.65%
EPS Q2Q%65.71%
Revenue 1Y (TTM)-4.05%
Revenue growth 3Y13.43%
Revenue growth 5Y13.82%
Sales Q2Q%4.26%

3.2 Future

The Earnings Per Share is expected to grow by 11.99% on average over the next years. This is quite good.
FBMS is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 6.55% yearly.
EPS Next Y17.89%
EPS Next 2Y11.99%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year7.85%
Revenue Next 2Y6.55%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
FBMS Yearly Revenue VS EstimatesFBMS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 50M 100M 150M 200M 250M
FBMS Yearly EPS VS EstimatesFBMS Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 1 2 3

4

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 13.86, FBMS is valued correctly.
FBMS's Price/Earnings ratio is a bit more expensive when compared to the industry. FBMS is more expensive than 68.24% of the companies in the same industry.
FBMS is valuated cheaply when we compare the Price/Earnings ratio to 28.79, which is the current average of the S&P500 Index.
A Price/Forward Earnings ratio of 11.75 indicates a reasonable valuation of FBMS.
Based on the Price/Forward Earnings ratio, FBMS is valued a bit more expensive than the industry average as 64.76% of the companies are valued more cheaply.
The average S&P500 Price/Forward Earnings ratio is at 21.38. FBMS is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 13.86
Fwd PE 11.75
FBMS Price Earnings VS Forward Price EarningsFBMS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

FBMS's Price/Free Cash Flow is on the same level as the industry average.
Industry RankSector Rank
P/FCF 12.85
EV/EBITDA N/A
FBMS Per share dataFBMS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
PEG (NY)0.77
PEG (5Y)N/A
EPS Next 2Y11.99%
EPS Next 3YN/A

5

5. Dividend

5.1 Amount

FBMS has a Yearly Dividend Yield of 2.96%.
Compared to an average industry Dividend Yield of 3.54, FBMS is paying slightly less dividend.
FBMS's Dividend Yield is comparable with the S&P500 average which is at 2.47.
Industry RankSector Rank
Dividend Yield 2.96%

5.2 History

On average, the dividend of FBMS grows each year by 26.11%, which is quite nice.
FBMS has paid a dividend for at least 10 years, which is a reliable track record.
FBMS has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)26.11%
Div Incr Years7
Div Non Decr Years14
FBMS Yearly Dividends per shareFBMS Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.2 0.4 0.6 0.8

5.3 Sustainability

39.72% of the earnings are spent on dividend by FBMS. This is a low number and sustainable payout ratio.
FBMS's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP39.72%
EPS Next 2Y11.99%
EPS Next 3YN/A
FBMS Yearly Income VS Free CF VS DividendFBMS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M 100M
FBMS Dividend Payout.FBMS Dividend Payout, showing the Payout Ratio.FBMS Dividend Payout.PayoutRetained Earnings

FIRST BANCSHARES INC/MS

NYSE:FBMS (3/31/2025, 8:19:52 PM)

After market: 33.81 0 (0%)

33.81

+0.16 (+0.48%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)01-28 2025-01-28/amc
Earnings (Next)04-23 2025-04-23/amc
Inst Owners74.06%
Inst Owner Change-45.7%
Ins Owners6.39%
Ins Owner Change-1903.24%
Market Cap1.06B
Analysts80
Price Target38.25 (13.13%)
Short Float %1.33%
Short Ratio2.04
Dividend
Industry RankSector Rank
Dividend Yield 2.96%
Yearly Dividend0.99
Dividend Growth(5Y)26.11%
DP39.72%
Div Incr Years7
Div Non Decr Years14
Ex-Date02-10 2025-02-10 (0.25)
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-9.3%
Min EPS beat(2)-11.15%
Max EPS beat(2)-7.45%
EPS beat(4)2
Avg EPS beat(4)-1.22%
Min EPS beat(4)-11.15%
Max EPS beat(4)8.47%
EPS beat(8)2
Avg EPS beat(8)-11.41%
EPS beat(12)3
Avg EPS beat(12)-8.41%
EPS beat(16)4
Avg EPS beat(16)-6.2%
Revenue beat(2)0
Avg Revenue beat(2)-1.48%
Min Revenue beat(2)-1.81%
Max Revenue beat(2)-1.14%
Revenue beat(4)0
Avg Revenue beat(4)-2.09%
Min Revenue beat(4)-4.56%
Max Revenue beat(4)-0.83%
Revenue beat(8)1
Avg Revenue beat(8)-2.01%
Revenue beat(12)5
Avg Revenue beat(12)3.95%
Revenue beat(16)9
Avg Revenue beat(16)7.73%
PT rev (1m)0%
PT rev (3m)0%
EPS NQ rev (1m)0%
EPS NQ rev (3m)1.54%
EPS NY rev (1m)0%
EPS NY rev (3m)2.17%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0.26%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.77%
Valuation
Industry RankSector Rank
PE 13.86
Fwd PE 11.75
P/S 3.72
P/FCF 12.85
P/OCF 12.35
P/B 1.05
P/tB 1.57
EV/EBITDA N/A
EPS(TTM)2.44
EY7.22%
EPS(NY)2.88
Fwd EY8.51%
FCF(TTM)2.63
FCFY7.78%
OCF(TTM)2.74
OCFY8.1%
SpS9.09
BVpS32.18
TBVpS21.56
PEG (NY)0.77
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 0.96%
ROE 7.68%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 27.18%
GM N/A
FCFM 28.94%
ROA(3y)0.96%
ROA(5y)0.99%
ROE(3y)8.45%
ROE(5y)8.6%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-6.26%
PM growth 5Y-1.55%
GM growth 3YN/A
GM growth 5YN/A
F-Score7
Asset Turnover0.04
Health
Industry RankSector Rank
Debt/Equity 0.12
Debt/FCF 1.52
Debt/EBITDA N/A
Cap/Depr 32.57%
Cap/Sales 1.17%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality 106.47%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score7
WACC13.23%
ROIC/WACCN/A
Cap/Depr(3y)63.53%
Cap/Depr(5y)55.58%
Cap/Sales(3y)3.21%
Cap/Sales(5y)3.11%
Profit Quality(3y)121.28%
Profit Quality(5y)118.19%
High Growth Momentum
Growth
EPS 1Y (TTM)1.67%
EPS 3Y-7.07%
EPS 5Y-2.65%
EPS Q2Q%65.71%
EPS Next Y17.89%
EPS Next 2Y11.99%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)-4.05%
Revenue growth 3Y13.43%
Revenue growth 5Y13.82%
Sales Q2Q%4.26%
Revenue Next Year7.85%
Revenue Next 2Y6.55%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1YN/A
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-21.59%
FCF growth 3Y-2.47%
FCF growth 5Y17.43%
OCF growth 1Y-21.19%
OCF growth 3Y-3.69%
OCF growth 5Y13.85%