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FIRST INTERNET BANCORP (INBK) Stock Fundamental Analysis

NASDAQ:INBK - Nasdaq - US3205571017 - Common Stock - Currency: USD

22.25  -0.67 (-2.92%)

After market: 22.25 0 (0%)

Fundamental Rating

4

Overall INBK gets a fundamental rating of 4 out of 10. We evaluated INBK against 393 industry peers in the Banks industry. Both the profitability and financial health of INBK have multiple concerns. INBK is not priced too expensively while it is growing strongly. Keep and eye on this one!


Dividend Valuation Growth Profitability Health

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2

1. Profitability

1.1 Basic Checks

In the past year INBK was profitable.
INBK had a positive operating cash flow in the past year.
INBK had positive earnings in each of the past 5 years.
Each year in the past 5 years INBK had a positive operating cash flow.
INBK Yearly Net Income VS EBIT VS OCF VS FCFINBK 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 0 20M -20M 40M -40M 60M 80M

1.2 Ratios

INBK has a worse Return On Assets (0.36%) than 81.93% of its industry peers.
The Return On Equity of INBK (5.43%) is worse than 74.30% of its industry peers.
Industry RankSector Rank
ROA 0.36%
ROE 5.43%
ROIC N/A
ROA(3y)0.46%
ROA(5y)0.64%
ROE(3y)6.21%
ROE(5y)8.04%
ROIC(3y)N/A
ROIC(5y)N/A
INBK Yearly ROA, ROE, ROICINBK Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2 4 6 8 10

1.3 Margins

INBK has a worse Profit Margin (14.91%) than 74.55% of its industry peers.
In the last couple of years the Profit Margin of INBK has declined.
INBK 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) 14.91%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-22.49%
PM growth 5Y-9.89%
GM growth 3YN/A
GM growth 5YN/A
INBK Yearly Profit, Operating, Gross MarginsINBK Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30 40

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2

2. Health

2.1 Basic Checks

INBK does not have a ROIC to compare to the WACC, probably because it is not profitable.
Compared to 1 year ago, INBK has more shares outstanding
The number of shares outstanding for INBK has been reduced compared to 5 years ago.
INBK has a better debt/assets ratio than last year.
INBK Yearly Shares OutstandingINBK Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2M 4M 6M 8M 10M
INBK Yearly Total Debt VS Total AssetsINBK Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B 4B 5B

2.2 Solvency

INBK has a debt to FCF ratio of 2.55. This is a good value and a sign of high solvency as INBK would need 2.55 years to pay back of all of its debts.
The Debt to FCF ratio of INBK (2.55) is comparable to the rest of the industry.
A Debt/Equity ratio of 0.27 indicates that INBK is not too dependend on debt financing.
With a Debt to Equity ratio value of 0.27, INBK is not doing good in the industry: 66.67% of the companies in the same industry are doing better.
Industry RankSector Rank
Debt/Equity 0.27
Debt/FCF 2.55
Altman-Z N/A
ROIC/WACCN/A
WACC25.67%
INBK Yearly LT Debt VS Equity VS FCFINBK Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 100M 200M 300M

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
INBK Yearly Current Assets VS Current LiabilitesINBK Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10M 20M 30M 40M 50M

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8

3. Growth

3.1 Past

The earnings per share for INBK have decreased strongly by -17.37% in the last year.
The Earnings Per Share has been growing slightly by 2.86% on average over the past years.
Looking at the last year, INBK shows a very strong growth in Revenue. The Revenue has grown by 25.49%.
The Revenue has been growing by 11.04% on average over the past years. This is quite good.
EPS 1Y (TTM)-17.37%
EPS 3Y-15.14%
EPS 5Y2.86%
EPS Q2Q%-97.01%
Revenue 1Y (TTM)25.49%
Revenue growth 3Y4.11%
Revenue growth 5Y11.04%
Sales Q2Q%29.53%

3.2 Future

INBK is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 33.69% yearly.
Based on estimates for the next years, INBK will show a very strong growth in Revenue. The Revenue will grow by 27.94% on average per year.
EPS Next Y-1.69%
EPS Next 2Y33.69%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year34.43%
Revenue Next 2Y27.94%
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.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
INBK Yearly Revenue VS EstimatesINBK Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 50M 100M 150M
INBK Yearly EPS VS EstimatesINBK Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 1 2 3 4 5

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4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 12.64 indicates a correct valuation of INBK.
Compared to the rest of the industry, the Price/Earnings ratio of INBK is on the same level as its industry peers.
When comparing the Price/Earnings ratio of INBK to the average of the S&P500 Index (27.61), we can say INBK is valued rather cheaply.
The Price/Forward Earnings ratio is 4.31, which indicates a rather cheap valuation of INBK.
Based on the Price/Forward Earnings ratio, INBK is valued cheaper than 96.95% of the companies in the same industry.
When comparing the Price/Forward Earnings ratio of INBK to the average of the S&P500 Index (37.13), we can say INBK is valued rather cheaply.
Industry RankSector Rank
PE 12.64
Fwd PE 4.31
INBK Price Earnings VS Forward Price EarningsINBK Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

INBK's Price/Free Cash Flow ratio is rather cheap when compared to the industry. INBK is cheaper than 92.37% of the companies in the same industry.
Industry RankSector Rank
P/FCF 4.7
EV/EBITDA N/A
INBK Per share dataINBK EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30 40

4.3 Compensation for Growth

INBK's earnings are expected to grow with 33.69% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)4.42
EPS Next 2Y33.69%
EPS Next 3YN/A

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4

5. Dividend

5.1 Amount

INBK has a Yearly Dividend Yield of 1.05%.
With a Dividend Yield of 1.05, INBK pays less dividend than the industry average, which is at 3.36. 81.93% of the companies listed in the same industry pay a better dividend than INBK!
Compared to an average S&P500 Dividend Yield of 2.32, INBK's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 1.05%

5.2 History

The dividend of INBK decreases each year by -0.26%.
INBK has been paying a dividend for at least 10 years, so it has a reliable track record.
INBK has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)-0.26%
Div Incr Years0
Div Non Decr Years11
INBK Yearly Dividends per shareINBK Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.05 0.1 0.15 0.2

5.3 Sustainability

9.88% of the earnings are spent on dividend by INBK. This is a low number and sustainable payout ratio.
DP9.88%
EPS Next 2Y33.69%
EPS Next 3YN/A
INBK Yearly Income VS Free CF VS DividendINBK Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20M -20M 40M -40M 60M
INBK Dividend Payout.INBK Dividend Payout, showing the Payout Ratio.INBK Dividend Payout.PayoutRetained Earnings

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FIRST INTERNET BANCORP

NASDAQ:INBK (7/30/2025, 8:19:33 PM)

After market: 22.25 0 (0%)

22.25

-0.67 (-2.92%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)07-23 2025-07-23/amc
Earnings (Next)10-21 2025-10-21/amc
Inst Owners71.39%
Inst Owner Change0.05%
Ins Owners7.81%
Ins Owner Change1.75%
Market Cap193.57M
Analysts76.36
Price Target30.19 (35.69%)
Short Float %0.96%
Short Ratio1.38
Dividend
Industry RankSector Rank
Dividend Yield 1.05%
Yearly Dividend0.24
Dividend Growth(5Y)-0.26%
DP9.88%
Div Incr Years0
Div Non Decr Years11
Ex-Date06-30 2025-06-30 (0.06)
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-48.46%
Min EPS beat(2)-85.75%
Max EPS beat(2)-11.17%
EPS beat(4)0
Avg EPS beat(4)-27.62%
Min EPS beat(4)-85.75%
Max EPS beat(4)-6.07%
EPS beat(8)4
Avg EPS beat(8)-3.88%
EPS beat(12)4
Avg EPS beat(12)-16.86%
EPS beat(16)7
Avg EPS beat(16)-11.26%
Revenue beat(2)1
Avg Revenue beat(2)22.28%
Min Revenue beat(2)-2.59%
Max Revenue beat(2)47.15%
Revenue beat(4)1
Avg Revenue beat(4)7.96%
Min Revenue beat(4)-9.19%
Max Revenue beat(4)47.15%
Revenue beat(8)2
Avg Revenue beat(8)2.89%
Revenue beat(12)5
Avg Revenue beat(12)3.52%
Revenue beat(16)9
Avg Revenue beat(16)8.7%
PT rev (1m)4.96%
PT rev (3m)-21.28%
EPS NQ rev (1m)-6.95%
EPS NQ rev (3m)-70.02%
EPS NY rev (1m)1.09%
EPS NY rev (3m)-32.49%
Revenue NQ rev (1m)0.74%
Revenue NQ rev (3m)3.55%
Revenue NY rev (1m)0.99%
Revenue NY rev (3m)3.28%
Valuation
Industry RankSector Rank
PE 12.64
Fwd PE 4.31
P/S 1.37
P/FCF 4.7
P/OCF 4.5
P/B 0.5
P/tB 0.51
EV/EBITDA N/A
EPS(TTM)1.76
EY7.91%
EPS(NY)5.17
Fwd EY23.22%
FCF(TTM)4.73
FCFY21.28%
OCF(TTM)4.95
OCFY22.23%
SpS16.23
BVpS44.57
TBVpS44.03
PEG (NY)N/A
PEG (5Y)4.42
Profitability
Industry RankSector Rank
ROA 0.36%
ROE 5.43%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 14.91%
GM N/A
FCFM 29.18%
ROA(3y)0.46%
ROA(5y)0.64%
ROE(3y)6.21%
ROE(5y)8.04%
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-22.49%
PM growth 5Y-9.89%
GM growth 3YN/A
GM growth 5YN/A
F-Score7
Asset Turnover0.02
Health
Industry RankSector Rank
Debt/Equity 0.27
Debt/FCF 2.55
Debt/EBITDA N/A
Cap/Depr 23.97%
Cap/Sales 1.3%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality 195.75%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score7
WACC25.67%
ROIC/WACCN/A
Cap/Depr(3y)108.23%
Cap/Depr(5y)198.31%
Cap/Sales(3y)7.34%
Cap/Sales(5y)14.48%
Profit Quality(3y)99.94%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-17.37%
EPS 3Y-15.14%
EPS 5Y2.86%
EPS Q2Q%-97.01%
EPS Next Y-1.69%
EPS Next 2Y33.69%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)25.49%
Revenue growth 3Y4.11%
Revenue growth 5Y11.04%
Sales Q2Q%29.53%
Revenue Next Year34.43%
Revenue Next 2Y27.94%
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-9.31%
FCF growth 3Y-25.3%
FCF growth 5YN/A
OCF growth 1Y-22.93%
OCF growth 3Y-38.12%
OCF growth 5YN/A