Fundamental Analysis of FIRST FINANCIAL BANCORP(NASDAQ:FFBC) stock

Fundamental Rating

We assign a fundamental rating of 4 out of 10 to FFBC. FFBC was compared to 412 industry peers in the Banks industry. While FFBC is still in line with the averages on profitability rating, there are concerns on its financial health. FFBC has a valuation in line with the averages, but on the other hand it scores bad on growth. FFBC also has an excellent dividend rating.

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1. Profitability

1.1 Basic Checks

In the past year FFBC was profitable.

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

Each year in the past 5 years FFBC has been profitable.

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

1.2 Ratios

With an excellent Return On Assets value of 1.46%, FFBC belongs to the best of the industry, outperforming 88.11% of the companies in the same industry.

With a decent Return On Equity value of 11.28%, FFBC is doing good in the industry, outperforming 72.57% of the companies in the same industry.

		Industry Rank	Sector Rank
ROA	1.46%
ROE	11.28%
ROIC	N/A

ROA(3y)1.33%

ROA(5y)1.27%

ROE(3y)10.34%

ROE(5y)9.33%

ROIC(3y)N/A

ROIC(5y)N/A

1.3 Margins

FFBC has a Profit Margin of 30.46%. This is in the better half of the industry: FFBC outperforms 77.67% of its industry peers.

In the last couple of years the Profit Margin of FFBC has remained more or less at the same level.

FFBC does not have Operating Margin and Gross Margin available, so we won't be analyzing them here.

		Industry Rank	Sector Rank
OM	N/A
PM (TTM)	30.46%
GM	N/A

OM growth 3YN/A

OM growth 5YN/A

PM growth 3Y8.06%

PM growth 5Y-0.51%

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

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

Compared to 1 year ago, FFBC has about the same amount of shares outstanding.

The number of shares outstanding for FFBC has been reduced compared to 5 years ago.

FFBC has a better debt/assets ratio than last year.

2.2 Solvency

FFBC has a debt to FCF ratio of 1.04. This is a very positive value and a sign of high solvency as it would only need 1.04 years to pay back of all of its debts.

FFBC has a better Debt to FCF ratio (1.04) than 75.24% of its industry peers.

FFBC has a Debt/Equity ratio of 0.21. This is a healthy value indicating a solid balance between debt and equity.

FFBC has a Debt to Equity ratio (0.21) which is comparable to the rest of the industry.

		Industry Rank	Sector Rank
Debt/Equity	0.21
Debt/FCF	1.04
Altman-Z	N/A

ROIC/WACCN/A

WACC12.25%

2.3 Liquidity

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

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WACC

Debt/Equity

How to determine the health of a company

Altman-Z score

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3. Growth

3.1 Past

FFBC shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 16.74%, which is quite good.

The Earnings Per Share has been growing slightly by 3.59% on average over the past years.

FFBC shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 18.55%.

FFBC shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 8.74% yearly.

EPS 1Y (TTM)16.74%

EPS 3Y17.89%

EPS 5Y3.59%

EPS growth Q2Q-17.81%

Revenue 1Y (TTM)18.55%

Revenue growth 3Y9.18%

Revenue growth 5Y8.74%

Revenue growth Q2Q-6.14%

3.2 Future

FFBC is expected to show a decrease in Earnings Per Share. In the coming years, the EPS will decrease by -7.57% yearly.

The Revenue is expected to decrease by -2.06% on average over the next years.

EPS Next Y-13.5%

EPS Next 2Y-7.57%

EPS Next 3YN/A

EPS Next 5YN/A

Revenue Next Year-5.58%

Revenue Next 2Y-2.06%

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 decreasing.

The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.

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4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 8.49, which indicates a very decent valuation of FFBC.

Based on the Price/Earnings ratio, FFBC is valued a bit cheaper than the industry average as 68.69% of the companies are valued more expensively.

Compared to an average S&P500 Price/Earnings ratio of 28.06, FFBC is valued rather cheaply.

With a Price/Forward Earnings ratio of 9.81, the valuation of FFBC can be described as very reasonable.

Based on the Price/Forward Earnings ratio, FFBC is valued a bit cheaper than 63.35% of the companies in the same industry.

Compared to an average S&P500 Price/Forward Earnings ratio of 20.72, FFBC is valued rather cheaply.

		Industry Rank	Sector Rank
PE	8.49
Fwd PE	9.81

4.2 Price Multiples

FFBC's Price/Free Cash Flow ratio is rather cheap when compared to the industry. FFBC is cheaper than 88.83% of the companies in the same industry.

		Industry Rank	Sector Rank
P/FCF	4.74
EV/EBITDA	N/A

4.3 Compensation for Growth

FFBC's earnings are expected to decrease with -7.57% in the coming years. This may justify a cheaper valuation.

PEG (NY)N/A

PEG (5Y)2.36

EPS Next 2Y-7.57%

EPS Next 3YN/A

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5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 4.05%, FFBC is a good candidate for dividend investing.

Compared to an average industry Dividend Yield of 3.84, FFBC pays a bit more dividend than its industry peers.

Compared to an average S&P500 Dividend Yield of 2.41, FFBC pays a better dividend.

		Industry Rank	Sector Rank
Dividend Yield	4.05%

5.2 History

The dividend of FFBC decreases each year by -1.65%.

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

FFBC has not decreased its dividend in the past 5 years, so it has a somewhat stable track record.

Dividend Growth(5Y)-1.65%

Div Incr Years0

Div Non Decr Years9

5.3 Sustainability

34.06% of the earnings are spent on dividend by FFBC. This is a low number and sustainable payout ratio.

FFBC's earnings and Dividend Rate are declining. This means the current dividend is most likely not sustainable.

DP34.06%

EPS Next 2Y-7.57%

EPS Next 3YN/A

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FIRST FINANCIAL BANCORP

NASDAQ:FFBC (5/2/2024, 7:00:00 PM)

After market: 23.08 0 (0%)

23.08

+0.39 (+1.72%)

Chartmill FA Rating

GICS SectorFinancials

GICS IndustryGroupBanks

GICS IndustryBanks

Earnings (Last)

Earnings (Next)

Inst Owners

Inst Owner Change

Ins Owners

Ins Owner Change

Market Cap2.19B

Analysts

Price Target

Dividend

		Industry Rank	Sector Rank
Dividend Yield	4.05%

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)

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Avg EPS beat(4)

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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)

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Revenue beat(4)

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Revenue beat(8)

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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	8.49
Fwd PE	9.81
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)N/A

PEG (5Y)2.36

Profitability

		Industry Rank	Sector Rank
ROA	1.46%
ROE	11.28%
ROCE
ROIC
ROICexc
ROICexgc
OM	N/A
PM (TTM)	30.46%
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 Turnover0.05

Health

		Industry Rank	Sector Rank
Debt/Equity	0.21
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)

Growth

EPS 1Y (TTM)16.74%

EPS 3Y17.89%

EPS 5Y

EPS growth Q2Q

EPS Next Y-13.5%

EPS Next 2Y

EPS Next 3Y

EPS Next 5Y

Revenue 1Y (TTM)18.55%

Revenue growth 3Y9.18%

Revenue growth 5Y

Revenue growth 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 FINANCIAL BANCORP (FFBC)

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

More info and screens

5. Dividend

5.1 Amount

5.2 History

5.3 Sustainability

More info and screens