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FIRST BANCSHARES INC/MS (FBMS) Stock Fundamental Analysis

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

35.9  -0.3 (-0.83%)

Fundamental Rating

4

FBMS gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 405 industry peers in the Banks industry. FBMS has a medium profitability rating, but doesn't score so well on its financial health evaluation. FBMS is valied quite expensively at the moment, while it does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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4

1. Profitability

1.1 Basic Checks

In the past year FBMS was profitable.
In the past year FBMS had a positive cash flow from operations.
FBMS had positive earnings in each of the past 5 years.
FBMS had a positive operating cash flow in each of the past 5 years.
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 20M 40M 60M 80M 100M

1.2 Ratios

The Return On Assets of FBMS (0.88%) is better than 60.30% of its industry peers.
Looking at the Return On Equity, with a value of 6.91%, FBMS is in line with its industry, outperforming 40.45% of the companies in the same industry.
Industry RankSector Rank
ROA 0.88%
ROE 6.91%
ROIC N/A
ROA(3y)0.99%
ROA(5y)1.02%
ROE(3y)9.06%
ROE(5y)8.67%
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 2 4 6 8

1.3 Margins

FBMS has a better Profit Margin (25.68%) than 66.33% of its industry peers.
FBMS's Profit Margin has improved in the last couple of years.
The Operating Margin and Gross Margin are not available for FBMS so they could not be analyzed.
Industry RankSector Rank
OM N/A
PM (TTM) 25.68%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-1.87%
PM growth 5Y4.87%
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 10 20 30

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3

2. Health

2.1 Basic Checks

FBMS does not have a ROIC to compare to the WACC, probably because it is not profitable.
FBMS has more shares outstanding than it did 1 year ago.
The number of shares outstanding for FBMS has been increased compared to 5 years ago.
Compared to 1 year ago, FBMS has an improved debt to assets ratio.
FBMS Yearly Shares OutstandingFBMS Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 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 2B 4B 6B

2.2 Solvency

FBMS has a debt to FCF ratio of 1.35. This is a very positive value and a sign of high solvency as it would only need 1.35 years to pay back of all of its debts.
FBMS's Debt to FCF ratio of 1.35 is fine compared to the rest of the industry. FBMS outperforms 69.85% of its industry peers.
FBMS has a Debt/Equity ratio of 0.12. This is a healthy value indicating a solid balance between debt and equity.
Looking at the Debt to Equity ratio, with a value of 0.12, FBMS is in the better half of the industry, outperforming 67.34% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.12
Debt/FCF 1.35
Altman-Z N/A
ROIC/WACCN/A
WACC9.49%
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 200M 400M 600M 800M

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 5M 10M 15M 20M 25M

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5

3. Growth

3.1 Past

The earnings per share for FBMS have decreased strongly by -19.05% in the last year.
Measured over the past 5 years, FBMS shows a small growth in Earnings Per Share. The EPS has been growing by 0.94% on average per year.
FBMS shows a decrease in Revenue. In the last year, the revenue decreased by -6.73%.
Measured over the past years, FBMS shows a very strong growth in Revenue. The Revenue has been growing by 22.92% on average per year.
EPS 1Y (TTM)-19.05%
EPS 3Y2.94%
EPS 5Y0.94%
EPS Q2Q%-23.38%
Revenue 1Y (TTM)-6.73%
Revenue growth 3Y15.01%
Revenue growth 5Y22.92%
Sales Q2Q%-2.78%

3.2 Future

Based on estimates for the next years, FBMS will show a quite strong growth in Earnings Per Share. The EPS will grow by 8.44% on average per year.
Based on estimates for the next years, FBMS will show a small growth in Revenue. The Revenue will grow by 2.28% on average per year.
EPS Next Y7.1%
EPS Next 2Y8.31%
EPS Next 3Y8.44%
EPS Next 5YN/A
Revenue Next Year-6.17%
Revenue Next 2Y1.21%
Revenue Next 3Y2.28%
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

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2

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 16.24, which indicates a correct valuation of FBMS.
68.84% of the companies in the same industry are cheaper than FBMS, based on the Price/Earnings ratio.
FBMS is valuated rather cheaply when we compare the Price/Earnings ratio to 28.29, which is the current average of the S&P500 Index.
With a Price/Forward Earnings ratio of 12.75, FBMS is valued correctly.
The rest of the industry has a similar Price/Forward Earnings ratio as FBMS.
Compared to an average S&P500 Price/Forward Earnings ratio of 24.44, FBMS is valued a bit cheaper.
Industry RankSector Rank
PE 16.24
Fwd PE 12.75
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 ratio is in line with the industry average.
Industry RankSector Rank
P/FCF 12.08
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 high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
PEG (NY)2.29
PEG (5Y)17.23
EPS Next 2Y8.31%
EPS Next 3Y8.44%

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6

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 2.84%, FBMS has a reasonable but not impressive dividend return.
FBMS's Dividend Yield is comparable with the industry average which is at 3.22.
Compared to an average S&P500 Dividend Yield of 2.28, FBMS pays a bit more dividend than the S&P500 average.
Industry RankSector Rank
Dividend Yield 2.84%

5.2 History

On average, the dividend of FBMS grows each year by 38.41%, which is quite nice.
FBMS has paid a dividend for at least 10 years, which is a reliable track record.
FBMS has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)38.41%
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 0.2 0.4 0.6 0.8

5.3 Sustainability

43.39% of the earnings are spent on dividend by FBMS. This is a bit on the high side, but may be sustainable.
The dividend of FBMS is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP43.39%
EPS Next 2Y8.31%
EPS Next 3Y8.44%
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 20M 40M 60M 80M 100M
FBMS Dividend Payout.FBMS Dividend Payout, showing the Payout Ratio.FBMS Dividend Payout.PayoutRetained Earnings

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FIRST BANCSHARES INC/MS

NYSE:FBMS (1/22/2025, 10:42:41 AM)

35.9

-0.3 (-0.83%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)10-23 2024-10-23/amc
Earnings (Next)01-22 2025-01-22/amc
Inst Owners71.41%
Inst Owner Change-0.08%
Ins Owners9.54%
Ins Owner Change-3.78%
Market Cap1.12B
Analysts80
Price Target38.25 (6.55%)
Short Float %1.36%
Short Ratio2.94
Dividend
Industry RankSector Rank
Dividend Yield 2.84%
Yearly Dividend1
Dividend Growth(5Y)38.41%
DP43.39%
Div Incr Years7
Div Non Decr Years14
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-1.1%
Min EPS beat(2)-7.45%
Max EPS beat(2)5.25%
EPS beat(4)2
Avg EPS beat(4)-10.82%
Min EPS beat(4)-49.54%
Max EPS beat(4)8.47%
EPS beat(8)2
Avg EPS beat(8)-10.94%
EPS beat(12)3
Avg EPS beat(12)-7.67%
EPS beat(16)5
Avg EPS beat(16)-4.48%
Revenue beat(2)0
Avg Revenue beat(2)-0.99%
Min Revenue beat(2)-1.14%
Max Revenue beat(2)-0.83%
Revenue beat(4)0
Avg Revenue beat(4)-2.44%
Min Revenue beat(4)-4.56%
Max Revenue beat(4)-0.83%
Revenue beat(8)2
Avg Revenue beat(8)-0.35%
Revenue beat(12)6
Avg Revenue beat(12)5.67%
Revenue beat(16)10
Avg Revenue beat(16)9.25%
PT rev (1m)4.65%
PT rev (3m)7.91%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0.39%
EPS NY rev (1m)0%
EPS NY rev (3m)-0.2%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-6.47%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.21%
Valuation
Industry RankSector Rank
PE 16.24
Fwd PE 12.75
P/S 4.11
P/FCF 12.08
P/OCF 11.67
P/B 1.11
P/tB 2.77
EV/EBITDA N/A
EPS(TTM)2.21
EY6.16%
EPS(NY)2.82
Fwd EY7.84%
FCF(TTM)2.97
FCFY8.28%
OCF(TTM)3.08
OCFY8.57%
SpS8.73
BVpS32.43
TBVpS12.98
PEG (NY)2.29
PEG (5Y)17.23
Profitability
Industry RankSector Rank
ROA 0.88%
ROE 6.91%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 25.68%
GM N/A
FCFM 34.04%
ROA(3y)0.99%
ROA(5y)1.02%
ROE(3y)9.06%
ROE(5y)8.67%
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-1.87%
PM growth 5Y4.87%
GM growth 3YN/A
GM growth 5YN/A
F-Score6
Asset Turnover0.03
Health
Industry RankSector Rank
Debt/Equity 0.12
Debt/FCF 1.35
Debt/EBITDA N/A
Cap/Depr 14.48%
Cap/Sales 1.19%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality 132.57%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score6
WACC9.49%
ROIC/WACCN/A
Cap/Depr(3y)69.9%
Cap/Depr(5y)78.79%
Cap/Sales(3y)4.05%
Cap/Sales(5y)3.94%
Profit Quality(3y)131.79%
Profit Quality(5y)113.74%
High Growth Momentum
Growth
EPS 1Y (TTM)-19.05%
EPS 3Y2.94%
EPS 5Y0.94%
EPS Q2Q%-23.38%
EPS Next Y7.1%
EPS Next 2Y8.31%
EPS Next 3Y8.44%
EPS Next 5YN/A
Revenue 1Y (TTM)-6.73%
Revenue growth 3Y15.01%
Revenue growth 5Y22.92%
Sales Q2Q%-2.78%
Revenue Next Year-6.17%
Revenue Next 2Y1.21%
Revenue Next 3Y2.28%
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 1Y14.76%
FCF growth 3Y30.85%
FCF growth 5Y30.74%
OCF growth 1Y5.88%
OCF growth 3Y28.46%
OCF growth 5Y28.06%