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CHOICEONE FINANCIAL SVCS INC (COFS) Stock Fundamental Analysis

NASDAQ:COFS - Nasdaq - US1703861062 - Common Stock

34.92  -0.23 (-0.65%)

Fundamental Rating

5

Taking everything into account, COFS scores 5 out of 10 in our fundamental rating. COFS was compared to 405 industry peers in the Banks industry. COFS has a medium profitability rating, but doesn't score so well on its financial health evaluation. COFS is not priced too expensively while it is growing strongly. Keep and eye on this one! COFS also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

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4

1. Profitability

1.1 Basic Checks

COFS had positive earnings in the past year.
COFS had a positive operating cash flow in the past year.
Each year in the past 5 years COFS has been profitable.
In the past 5 years COFS always reported a positive cash flow from operatings.
COFS Yearly Net Income VS EBIT VS OCF VS FCFCOFS 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 10M 20M 30M 40M

1.2 Ratios

COFS has a better Return On Assets (0.91%) than 62.56% of its industry peers.
COFS's Return On Equity of 10.03% is fine compared to the rest of the industry. COFS outperforms 72.61% of its industry peers.
Industry RankSector Rank
ROA 0.91%
ROE 10.03%
ROIC N/A
ROA(3y)0.92%
ROA(5y)0.82%
ROE(3y)11.6%
ROE(5y)9.08%
ROIC(3y)N/A
ROIC(5y)N/A
COFS Yearly ROA, ROE, ROICCOFS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2 4 6 8 10

1.3 Margins

Looking at the Profit Margin, with a value of 28.03%, COFS is in the better half of the industry, outperforming 79.15% of the companies in the same industry.
In the last couple of years the Profit Margin of COFS has remained more or less at the same level.
The Operating Margin and Gross Margin are not available for COFS so they could not be analyzed.
Industry RankSector Rank
OM N/A
PM (TTM) 28.03%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y7.54%
PM growth 5Y0.8%
GM growth 3YN/A
GM growth 5YN/A
COFS Yearly Profit, Operating, Gross MarginsCOFS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 5 10 15 20 25

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2

2. Health

2.1 Basic Checks

COFS does not have a ROIC to compare to the WACC, probably because it is not profitable.
Compared to 1 year ago, COFS has more shares outstanding
Compared to 5 years ago, COFS has more shares outstanding
The debt/assets ratio for COFS is higher compared to a year ago.
COFS Yearly Shares OutstandingCOFS Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2M 4M 6M
COFS Yearly Total Debt VS Total AssetsCOFS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 500M 1B 1.5B 2B 2.5B

2.2 Solvency

COFS has a debt to FCF ratio of 2.98. This is a good value and a sign of high solvency as COFS would need 2.98 years to pay back of all of its debts.
The Debt to FCF ratio of COFS (2.98) is comparable to the rest of the industry.
COFS has a Debt/Equity ratio of 0.14. This is a healthy value indicating a solid balance between debt and equity.
With a decent Debt to Equity ratio value of 0.14, COFS is doing good in the industry, outperforming 64.57% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.14
Debt/FCF 2.98
Altman-Z N/A
ROIC/WACCN/A
WACC11.11%
COFS Yearly LT Debt VS Equity VS FCFCOFS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 50M 100M 150M 200M

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
COFS Yearly Current Assets VS Current LiabilitesCOFS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2023 50M 100M 150M

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8

3. Growth

3.1 Past

COFS shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 4.98%.
Measured over the past 5 years, COFS shows a small growth in Earnings Per Share. The EPS has been growing by 6.81% on average per year.
The Revenue has grown by 9.08% in the past year. This is quite good.
Measured over the past years, COFS shows a very strong growth in Revenue. The Revenue has been growing by 22.76% on average per year.
EPS 1Y (TTM)4.98%
EPS 3Y10.7%
EPS 5Y6.81%
EPS Q2Q%25%
Revenue 1Y (TTM)9.08%
Revenue growth 3Y3.08%
Revenue growth 5Y22.76%
Sales Q2Q%26.02%

3.2 Future

COFS is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 13.10% yearly.
The Revenue is expected to grow by 43.85% on average over the next years. This is a very strong growth
EPS Next Y19%
EPS Next 2Y17.24%
EPS Next 3Y13.1%
EPS Next 5YN/A
Revenue Next Year16.28%
Revenue Next 2Y43.85%
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 accelerating.
COFS Yearly Revenue VS EstimatesCOFS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 50M 100M 150M
COFS Yearly EPS VS EstimatesCOFS Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 1 2 3 4

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5

4. Valuation

4.1 Price/Earnings Ratio

COFS is valuated reasonably with a Price/Earnings ratio of 11.05.
COFS's Price/Earnings ratio is a bit cheaper when compared to the industry. COFS is cheaper than 76.13% of the companies in the same industry.
COFS's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 28.29.
COFS is valuated reasonably with a Price/Forward Earnings ratio of 9.01.
83.67% of the companies in the same industry are more expensive than COFS, based on the Price/Forward Earnings ratio.
Compared to an average S&P500 Price/Forward Earnings ratio of 24.44, COFS is valued rather cheaply.
Industry RankSector Rank
PE 11.05
Fwd PE 9.01
COFS Price Earnings VS Forward Price EarningsCOFS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

Based on the Price/Free Cash Flow ratio, COFS is valued a bit more expensive than the industry average as 74.12% of the companies are valued more cheaply.
Industry RankSector Rank
P/FCF 26.16
EV/EBITDA N/A
COFS Per share dataCOFS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15 20 25

4.3 Compensation for Growth

COFS's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
COFS's earnings are expected to grow with 13.10% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.58
PEG (5Y)1.62
EPS Next 2Y17.24%
EPS Next 3Y13.1%

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8

5. Dividend

5.1 Amount

COFS has a Yearly Dividend Yield of 3.24%.
COFS's Dividend Yield is a higher than the industry average which is at 3.22.
COFS's Dividend Yield is a higher than the S&P500 average which is at 2.28.
Industry RankSector Rank
Dividend Yield 3.24%

5.2 History

The dividend of COFS is nicely growing with an annual growth rate of 7.96%!
COFS has paid a dividend for at least 10 years, which is a reliable track record.
COFS has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)7.96%
Div Incr Years12
Div Non Decr Years14
COFS Yearly Dividends per shareCOFS Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0.2 0.4 0.6 0.8 1

5.3 Sustainability

COFS pays out 34.36% of its income as dividend. This is a sustainable payout ratio.
COFS's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP34.36%
EPS Next 2Y17.24%
EPS Next 3Y13.1%
COFS Yearly Income VS Free CF VS DividendCOFS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 10M 20M 30M 40M
COFS Dividend Payout.COFS Dividend Payout, showing the Payout Ratio.COFS Dividend Payout.PayoutRetained Earnings

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CHOICEONE FINANCIAL SVCS INC

NASDAQ:COFS (1/22/2025, 10:41:34 AM)

34.92

-0.23 (-0.65%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)10-23 2024-10-23/amc
Earnings (Next)01-22 2025-01-22/bmo
Inst Owners19.71%
Inst Owner Change0.12%
Ins Owners6.56%
Ins Owner Change7.97%
Market Cap312.88M
Analysts80
Price Target37.74 (8.08%)
Short Float %4.07%
Short Ratio11.62
Dividend
Industry RankSector Rank
Dividend Yield 3.24%
Yearly Dividend1.05
Dividend Growth(5Y)7.96%
DP34.36%
Div Incr Years12
Div Non Decr Years14
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)12.42%
Min EPS beat(2)12.23%
Max EPS beat(2)12.61%
EPS beat(4)4
Avg EPS beat(4)13.76%
Min EPS beat(4)7.23%
Max EPS beat(4)22.96%
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)37.04%
EPS NQ rev (1m)0%
EPS NQ rev (3m)3.13%
EPS NY rev (1m)0%
EPS NY rev (3m)7.52%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)N/A
Valuation
Industry RankSector Rank
PE 11.05
Fwd PE 9.01
P/S 3.53
P/FCF 26.16
P/OCF 22.69
P/B 1.26
P/tB 1.68
EV/EBITDA N/A
EPS(TTM)3.16
EY9.05%
EPS(NY)3.88
Fwd EY11.1%
FCF(TTM)1.33
FCFY3.82%
OCF(TTM)1.54
OCFY4.41%
SpS9.9
BVpS27.65
TBVpS20.82
PEG (NY)0.58
PEG (5Y)1.62
Profitability
Industry RankSector Rank
ROA 0.91%
ROE 10.03%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 28.03%
GM N/A
FCFM 13.48%
ROA(3y)0.92%
ROA(5y)0.82%
ROE(3y)11.6%
ROE(5y)9.08%
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 3Y7.54%
PM growth 5Y0.8%
GM growth 3YN/A
GM growth 5YN/A
F-Score7
Asset Turnover0.03
Health
Industry RankSector Rank
Debt/Equity 0.14
Debt/FCF 2.98
Debt/EBITDA N/A
Cap/Depr 14.95%
Cap/Sales 2.06%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality 48.1%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score7
WACC11.11%
ROIC/WACCN/A
Cap/Depr(3y)21.66%
Cap/Depr(5y)22.72%
Cap/Sales(3y)3.37%
Cap/Sales(5y)2.94%
Profit Quality(3y)180.93%
Profit Quality(5y)140.56%
High Growth Momentum
Growth
EPS 1Y (TTM)4.98%
EPS 3Y10.7%
EPS 5Y6.81%
EPS Q2Q%25%
EPS Next Y19%
EPS Next 2Y17.24%
EPS Next 3Y13.1%
EPS Next 5YN/A
Revenue 1Y (TTM)9.08%
Revenue growth 3Y3.08%
Revenue growth 5Y22.76%
Sales Q2Q%26.02%
Revenue Next Year16.28%
Revenue Next 2Y43.85%
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-68.82%
FCF growth 3Y85.39%
FCF growth 5Y49.01%
OCF growth 1Y-65.67%
OCF growth 3Y76.32%
OCF growth 5Y36.08%