Fundamental Analysis of FIRST BANCORP/NC(NASDAQ:FBNC) stock

Fundamental Rating

We assign a fundamental rating of 3 out of 10 to FBNC. FBNC was compared to 405 industry peers in the Banks industry. FBNC has a medium profitability rating, but doesn't score so well on its financial health evaluation. FBNC is valued expensive and it does not seem to be growing.

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1. Profitability

1.1 Basic Checks

FBNC had positive earnings in the past year.

FBNC had a positive operating cash flow in the past year.

In the past 5 years FBNC has always been profitable.

FBNC had a positive operating cash flow in each of the past 5 years.

1.2 Ratios

The Return On Assets of FBNC (0.93%) is better than 63.43% of its industry peers.

FBNC has a Return On Equity (8.03%) which is comparable to the rest of the industry.

		Industry Rank	Sector Rank
ROA	0.93%
ROE	8.03%
ROIC	N/A

ROA(3y)1.05%

ROA(5y)1.15%

ROE(3y)9.81%

ROE(5y)9.85%

ROIC(3y)N/A

ROIC(5y)N/A

1.3 Margins

Looking at the Profit Margin, with a value of 29.29%, FBNC belongs to the top of the industry, outperforming 80.60% of the companies in the same industry.

In the last couple of years the Profit Margin of FBNC has declined.

The Operating Margin and Gross Margin are not available for FBNC so they could not be analyzed.

		Industry Rank	Sector Rank
OM	N/A
PM (TTM)	29.29%
GM	N/A

OM growth 3YN/A

OM growth 5YN/A

PM growth 3Y-1.87%

PM growth 5Y-5.26%

GM growth 3YN/A

GM growth 5YN/A

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

FBNC does not have a ROIC to compare to the WACC, probably because it is not profitable.

Compared to 1 year ago, FBNC has more shares outstanding

The number of shares outstanding for FBNC has been increased compared to 5 years ago.

FBNC has a worse debt/assets ratio than last year.

2.2 Solvency

FBNC has a debt to FCF ratio of 0.71. This is a very positive value and a sign of high solvency as it would only need 0.71 years to pay back of all of its debts.

FBNC has a Debt to FCF ratio of 0.71. This is amongst the best in the industry. FBNC outperforms 81.09% of its industry peers.

A Debt/Equity ratio of 0.07 indicates that FBNC is not too dependend on debt financing.

The Debt to Equity ratio of FBNC (0.07) is better than 79.85% of its industry peers.

		Industry Rank	Sector Rank
Debt/Equity	0.07
Debt/FCF	0.71
Altman-Z	N/A

ROIC/WACCN/A

WACC11.71%

2.3 Liquidity

		Industry Rank	Sector Rank
Current Ratio	N/A
Quick Ratio	N/A

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WACC

Debt/Equity

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Altman-Z score

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3. Growth

3.1 Past

The earnings per share for FBNC have decreased strongly by -14.29% in the last year.

FBNC shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -3.86% yearly.

FBNC shows a decrease in Revenue. In the last year, the revenue decreased by -5.78%.

The Revenue has been growing by 8.70% on average over the past years. This is quite good.

EPS 1Y (TTM)-14.29%

EPS 3Y-1.03%

EPS 5Y-3.86%

EPS Q2Q%-1.41%

Revenue 1Y (TTM)-5.78%

Revenue growth 3Y10.52%

Revenue growth 5Y8.7%

Sales Q2Q%-5.44%

3.2 Future

The Earnings Per Share is expected to grow by 7.47% on average over the next years.

FBNC is expected to show a decrease in Revenue. In the coming years, the Revenue will decrease by -0.06% yearly.

EPS Next Y9.46%

EPS Next 2Y7.47%

EPS Next 3YN/A

EPS Next 5YN/A

Revenue Next Year-5.17%

Revenue Next 2Y-0.06%

Revenue Next 3YN/A

Revenue Next 5YN/A

3.3 Evolution

The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.

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.

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4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 15.77, the valuation of FBNC can be described as correct.

Compared to the rest of the industry, the Price/Earnings ratio of FBNC indicates a slightly more expensive valuation: FBNC is more expensive than 67.91% of the companies listed in the same industry.

FBNC's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 31.73.

Based on the Price/Forward Earnings ratio of 14.89, the valuation of FBNC can be described as correct.

Compared to the rest of the industry, the Price/Forward Earnings ratio of FBNC indicates a slightly more expensive valuation: FBNC is more expensive than 68.66% of the companies listed in the same industry.

When comparing the Price/Forward Earnings ratio of FBNC to the average of the S&P500 Index (22.71), we can say FBNC is valued slightly cheaper.

		Industry Rank	Sector Rank
PE	15.77
Fwd PE	14.89

4.2 Price Multiples

Compared to the rest of the industry, the Price/Free Cash Flow ratio of FBNC indicates a slightly more expensive valuation: FBNC is more expensive than 61.44% of the companies listed in the same industry.

		Industry Rank	Sector Rank
P/FCF	13.86
EV/EBITDA	N/A

4.3 Compensation for Growth

FBNC's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.

PEG (NY)1.67

PEG (5Y)N/A

EPS Next 2Y7.47%

EPS Next 3YN/A

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5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 2.13%, FBNC has a reasonable but not impressive dividend return.

Compared to an average industry Dividend Yield of 3.38, FBNC is paying slightly less dividend.

Compared to an average S&P500 Dividend Yield of 2.22, FBNC has a dividend comparable with the average S&P500 company.

		Industry Rank	Sector Rank
Dividend Yield	2.13%

5.2 History

On average, the dividend of FBNC grows each year by 19.19%, which is quite nice.

FBNC has paid a dividend for at least 10 years, which is a reliable track record.

FBNC has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.

Dividend Growth(5Y)19.19%

Div Incr Years6

Div Non Decr Years14

5.3 Sustainability

FBNC pays out 32.05% of its income as dividend. This is a sustainable payout ratio.

The dividend of FBNC is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.

DP32.05%

EPS Next 2Y7.47%

EPS Next 3YN/A

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FIRST BANCORP/NC

NASDAQ:FBNC (10/14/2024, 8:26:08 PM)

Premarket: 42.8 -0.72 (-1.65%)

43.52

+0.96 (+2.26%)

Chartmill FA Rating

GICS SectorFinancials

GICS IndustryGroupBanks

GICS IndustryBanks

Earnings (Last)

Earnings (Next)

Inst Owners

Inst Owner Change

Ins Owners

Ins Owner Change

Market Cap1.80B

Analysts

Price Target

Dividend

		Industry Rank	Sector Rank
Dividend Yield	2.13%

Dividend Growth(5Y)

Div Incr Years

Div Non Decr Years

Ex-Date

Surprises & Revisions

EPS beat(2)

Avg EPS beat(2)

Min EPS beat(2)

Max EPS beat(2)

EPS beat(4)

Avg EPS beat(4)

Min EPS beat(4)

Max EPS beat(4)

EPS beat(8)

Avg EPS beat(8)

EPS beat(12)

Avg EPS beat(12)

EPS beat(16)

Avg EPS beat(16)

Revenue beat(2)

Avg Revenue beat(2)

Min Revenue beat(2)

Max Revenue beat(2)

Revenue beat(4)

Avg Revenue beat(4)

Min Revenue beat(4)

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Revenue beat(8)

Avg Revenue beat(8)

Revenue beat(12)

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Revenue beat(16)

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PT rev (1m)

PT rev (3m)

EPS NQ rev (1m)

EPS NQ rev (3m)

EPS NY rev (1m)

EPS NY rev (3m)

Revenue NQ rev (1m)

Revenue NQ rev (3m)

Revenue NY rev (1m)

Revenue NY rev (3m)

Valuation

		Industry Rank	Sector Rank
PE	15.77
Fwd PE	14.89
P/S
P/FCF
P/OCF
P/B
P/tB
EV/EBITDA

EPS(TTM)

EPS(NY)

Fwd EY

FCF(TTM)

FCFY

OCF(TTM)

OCFY

SpS

BVpS

TBVpS

PEG (NY)1.67

PEG (5Y)N/A

Profitability

		Industry Rank	Sector Rank
ROA	0.93%
ROE	8.03%
ROCE
ROIC
ROICexc
ROICexgc
OM	N/A
PM (TTM)	29.29%
GM	N/A
FCFM

ROA(3y)

ROA(5y)

ROE(3y)

ROE(5y)

ROIC(3y)

ROIC(5y)

ROICexc(3y)

ROICexc(5y)

ROICexgc(3y)

ROICexgc(5y)

ROCE(3y)

ROCE(5y)

ROICexcg growth 3Y

ROICexcg growth 5Y

ROICexc growth 3Y

ROICexc growth 5Y

OM growth 3Y

OM growth 5Y

PM growth 3Y

PM growth 5Y

GM growth 3Y

GM growth 5Y

F-Score

Asset Turnover0.03

Health

		Industry Rank	Sector Rank
Debt/Equity	0.07
Debt/FCF
Debt/EBITDA
Cap/Depr
Cap/Sales
Interest Coverage
Cash Conversion
Profit Quality
Current Ratio	N/A
Quick Ratio	N/A
Altman-Z

F-Score

WACC

ROIC/WACC

Cap/Depr(3y)

Cap/Depr(5y)

Cap/Sales(3y)

Cap/Sales(5y)

Profit Quality(3y)

Profit Quality(5y)

High Growth Momentum

Growth

EPS 1Y (TTM)-14.29%

EPS 3Y-1.03%

EPS 5Y

EPS Q2Q%

EPS Next Y9.46%

EPS Next 2Y

EPS Next 3Y

EPS Next 5Y

Revenue 1Y (TTM)-5.78%

Revenue growth 3Y10.52%

Revenue growth 5Y

Sales Q2Q%

Revenue Next Year

Revenue Next 2Y

Revenue Next 3Y

Revenue Next 5Y

EBIT growth 1Y

EBIT growth 3Y

EBIT growth 5Y

EBIT Next Year

EBIT Next 3Y

EBIT Next 5Y

FCF growth 1Y

FCF growth 3Y

FCF growth 5Y

OCF growth 1Y

OCF growth 3Y

OCF growth 5Y

FIRST BANCORP/NC (FBNC)

1. Profitability

1.1 Basic Checks

1.2 Ratios

1.3 Margins

More info and screens

2. Health

2.1 Basic Checks

2.2 Solvency

2.3 Liquidity

More info and screens

3. Growth

3.1 Past

3.2 Future

3.3 Evolution

More info and screens

4. Valuation

4.1 Price/Earnings Ratio

4.2 Price Multiples

4.3 Compensation for Growth

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5. Dividend

5.1 Amount

5.2 History

5.3 Sustainability

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