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FIRST BANCORP/NC (FBNC) Stock Fundamental Analysis

NASDAQ:FBNC - Nasdaq - US3189101062 - Common Stock - Currency: USD

41.71  -0.75 (-1.77%)

After market: 41.71 0 (0%)

Fundamental Rating

4

FBNC gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 405 industry peers in the Banks industry. FBNC scores quite bad on profitability, while its financial health is fine. Not spectacular, but in line with the averages. FBNC has a correct valuation and a medium growth rate.


Dividend Valuation Growth Profitability Health

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3

1. Profitability

1.1 Basic Checks

In the past year FBNC was profitable.
FBNC had a positive operating cash flow in the past year.
FBNC had positive earnings in 4 of the past 5 years.
FBNC had a positive operating cash flow in 4 of the past 5 years.
FBNC Yearly Net Income VS EBIT VS OCF VS FCFFBNC 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 50M 100M 150M 200M

1.2 Ratios

Looking at the Return On Assets, with a value of 1.04%, FBNC is in the better half of the industry, outperforming 71.93% of the companies in the same industry.
The Return On Equity of FBNC (8.58%) is comparable to the rest of the industry.
Industry RankSector Rank
ROA 1.04%
ROE 8.58%
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
FBNC Yearly ROA, ROE, ROICFBNC Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 5 10

1.3 Margins

FBNC's Profit Margin of 26.77% is fine compared to the rest of the industry. FBNC outperforms 69.67% of its industry peers.
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 RankSector Rank
OM N/A
PM (TTM) 26.77%
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
FBNC Yearly Profit, Operating, Gross MarginsFBNC 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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4

2. Health

2.1 Basic Checks

FBNC does not have a ROIC to compare to the WACC, probably because it is not profitable.
FBNC has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
FBNC Yearly Shares OutstandingFBNC Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 10M 20M 30M 40M
FBNC Yearly Total Debt VS Total AssetsFBNC Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2B 4B 6B 8B 10B

2.2 Solvency

The Debt to FCF ratio of FBNC is 0.62, which is an excellent value as it means it would take FBNC, only 0.62 years of fcf income to pay off all of its debts.
FBNC's Debt to FCF ratio of 0.62 is amongst the best of the industry. FBNC outperforms 83.71% of its industry peers.
FBNC has a Debt/Equity ratio of 0.06. This is a healthy value indicating a solid balance between debt and equity.
FBNC's Debt to Equity ratio of 0.06 is amongst the best of the industry. FBNC outperforms 80.45% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.06
Debt/FCF 0.62
Altman-Z N/A
ROIC/WACCN/A
WACC12.07%
FBNC Yearly LT Debt VS Equity VS FCFFBNC 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 1B

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
FBNC Yearly Current Assets VS Current LiabilitesFBNC Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 50M 100M 150M 200M 250M

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4

3. Growth

3.1 Past

The Earnings Per Share has grown by an nice 9.49% over the past year.
The Earnings Per Share has been decreasing by -2.23% on average over the past years.
EPS 1Y (TTM)9.49%
EPS 3Y-5.67%
EPS 5Y-2.23%
EPS Q2Q%5.56%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%-33.69%

3.2 Future

The Earnings Per Share is expected to grow by 14.33% on average over the next years. This is quite good.
The Revenue is expected to grow by 8.76% on average over the next years. This is quite good.
EPS Next Y22.5%
EPS Next 2Y14.33%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year11.8%
Revenue Next 2Y8.76%
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.
FBNC Yearly Revenue VS EstimatesFBNC Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 100M 200M 300M 400M
FBNC Yearly EPS VS EstimatesFBNC 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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4

4. Valuation

4.1 Price/Earnings Ratio

FBNC is valuated correctly with a Price/Earnings ratio of 15.06.
FBNC's Price/Earnings ratio is a bit more expensive when compared to the industry. FBNC is more expensive than 65.66% of the companies in the same industry.
FBNC's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 29.62.
FBNC is valuated correctly with a Price/Forward Earnings ratio of 12.29.
FBNC's Price/Forward Earnings is on the same level as the industry average.
When comparing the Price/Forward Earnings ratio of FBNC to the average of the S&P500 Index (22.70), we can say FBNC is valued slightly cheaper.
Industry RankSector Rank
PE 15.06
Fwd PE 12.29
FBNC Price Earnings VS Forward Price EarningsFBNC Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

Compared to the rest of the industry, the Price/Free Cash Flow ratio of FBNC is on the same level as its industry peers.
Industry RankSector Rank
P/FCF 11.63
EV/EBITDA N/A
FBNC Per share dataFBNC EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30

4.3 Compensation for Growth

FBNC's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
A more expensive valuation may be justified as FBNC's earnings are expected to grow with 14.33% in the coming years.
PEG (NY)0.67
PEG (5Y)N/A
EPS Next 2Y14.33%
EPS Next 3YN/A

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5

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 2.07%, FBNC has a reasonable but not impressive dividend return.
FBNC's Dividend Yield is slightly below the industry average, which is at 3.19.
Compared to an average S&P500 Dividend Yield of 2.27, FBNC has a dividend comparable with the average S&P500 company.
Industry RankSector Rank
Dividend Yield 2.07%

5.2 History

The dividend of FBNC is nicely growing with an annual growth rate of 19.19%!
FBNC has been paying a dividend for at least 10 years, so it has a reliable track record.
FBNC has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)19.19%
Div Incr Years6
Div Non Decr Years14
FBNC Yearly Dividends per shareFBNC 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

28.54% of the earnings are spent on dividend by FBNC. This is a low number and sustainable payout ratio.
The dividend of FBNC is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP28.54%
EPS Next 2Y14.33%
EPS Next 3YN/A
FBNC Yearly Income VS Free CF VS DividendFBNC Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 50M 100M 150M 200M
FBNC Dividend Payout.FBNC Dividend Payout, showing the Payout Ratio.FBNC Dividend Payout.PayoutRetained Earnings

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FIRST BANCORP/NC

NASDAQ:FBNC (2/21/2025, 8:17:10 PM)

After market: 41.71 0 (0%)

41.71

-0.75 (-1.77%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)01-29 2025-01-29/amc
Earnings (Next)04-22 2025-04-22/amc
Inst Owners71.36%
Inst Owner Change-94.7%
Ins Owners1.93%
Ins Owner Change-1.12%
Market Cap1.72B
Analysts82.22
Price Target52.53 (25.94%)
Short Float %2.08%
Short Ratio4.72
Dividend
Industry RankSector Rank
Dividend Yield 2.07%
Yearly Dividend0.91
Dividend Growth(5Y)19.19%
DP28.54%
Div Incr Years6
Div Non Decr Years14
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)6.46%
Min EPS beat(2)-2.42%
Max EPS beat(2)15.34%
EPS beat(4)2
Avg EPS beat(4)4.01%
Min EPS beat(4)-5.07%
Max EPS beat(4)15.34%
EPS beat(8)3
Avg EPS beat(8)-5.97%
EPS beat(12)5
Avg EPS beat(12)-6.38%
EPS beat(16)9
Avg EPS beat(16)-2.58%
Revenue beat(2)1
Avg Revenue beat(2)-8.69%
Min Revenue beat(2)-17.43%
Max Revenue beat(2)0.04%
Revenue beat(4)1
Avg Revenue beat(4)-6.77%
Min Revenue beat(4)-17.43%
Max Revenue beat(4)0.04%
Revenue beat(8)1
Avg Revenue beat(8)-6.43%
Revenue beat(12)3
Avg Revenue beat(12)-4.28%
Revenue beat(16)5
Avg Revenue beat(16)-3.12%
PT rev (1m)-0.24%
PT rev (3m)7.01%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
Industry RankSector Rank
PE 15.06
Fwd PE 12.29
P/S 3.64
P/FCF 11.63
P/OCF 11.37
P/B 1.17
P/tB 1.77
EV/EBITDA N/A
EPS(TTM)2.77
EY6.64%
EPS(NY)3.39
Fwd EY8.14%
FCF(TTM)3.59
FCFY8.6%
OCF(TTM)3.67
OCFY8.79%
SpS11.46
BVpS35.73
TBVpS23.56
PEG (NY)0.67
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 1.04%
ROE 8.58%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 26.77%
GM N/A
FCFM 31.3%
ROA(3y)1.05%
ROA(5y)1.15%
ROE(3y)9.81%
ROE(5y)9.85%
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 5Y-5.26%
GM growth 3YN/A
GM growth 5YN/A
F-Score7
Asset Turnover0.04
Health
Industry RankSector Rank
Debt/Equity 0.06
Debt/FCF 0.62
Debt/EBITDA N/A
Cap/Depr 18.77%
Cap/Sales 0.71%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality 116.92%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score7
WACC12.07%
ROIC/WACCN/A
Cap/Depr(3y)46.97%
Cap/Depr(5y)55.39%
Cap/Sales(3y)1.79%
Cap/Sales(5y)2.16%
Profit Quality(3y)137.65%
Profit Quality(5y)104.03%
High Growth Momentum
Growth
EPS 1Y (TTM)9.49%
EPS 3Y-5.67%
EPS 5Y-2.23%
EPS Q2Q%5.56%
EPS Next Y22.5%
EPS Next 2Y14.33%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%-33.69%
Revenue Next Year11.8%
Revenue Next 2Y8.76%
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-26.82%
FCF growth 3Y41.62%
FCF growth 5Y28.89%
OCF growth 1Y-26.7%
OCF growth 3Y32.02%
OCF growth 5Y23.14%