FULTON FINANCIAL CORP (FULT) Stock Fundamental Analysis
NASDAQ:FULT - Nasdaq - US3602711000 - Common Stock - Currency: USD
FULT gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 402 industry peers in the Banks industry. Both the profitability and financial health of FULT have multiple concerns. FULT has a correct valuation and a medium growth rate.
1. Profitability
1.1 Basic Checks
In the past year FULT was profitable.
FULT had a positive operating cash flow in the past year.
In the past 5 years FULT has always been profitable.
FULT had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
FULT has a Return On Assets (0.87%) which is in line with its industry peers.
FULT has a Return On Equity of 8.71%. This is comparable to the rest of the industry: FULT outperforms 54.73% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.87% | ||
| ROE | 8.71% | ||
| ROIC | N/A |
ROA(3y)0.96%
ROA(5y)0.92%
ROE(3y)9.79%
ROE(5y)9.17%
ROIC(3y)N/A
ROIC(5y)N/A
1.3 Margins
Looking at the Profit Margin, with a value of 22.53%, FULT is in line with its industry, outperforming 49.25% of the companies in the same industry.
In the last couple of years the Profit Margin of FULT has declined.
The Operating Margin and Gross Margin are not available for FULT so they could not be analyzed.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | N/A | ||
| PM (TTM) | 22.53% | ||
| GM | N/A |
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-7.31%
PM growth 5Y-2.95%
GM growth 3YN/A
GM growth 5YN/A
2. Health
2.1 Basic Checks
FULT does not have a ROIC to compare to the WACC, probably because it is not profitable.
FULT has more shares outstanding than it did 1 year ago.
FULT has more shares outstanding than it did 5 years ago.
The debt/assets ratio for FULT has been reduced compared to a year ago.
2.2 Solvency
FULT has a debt to FCF ratio of 2.49. This is a good value and a sign of high solvency as FULT would need 2.49 years to pay back of all of its debts.
FULT's Debt to FCF ratio of 2.49 is in line compared to the rest of the industry. FULT outperforms 50.25% of its industry peers.
A Debt/Equity ratio of 0.29 indicates that FULT is not too dependend on debt financing.
With a Debt to Equity ratio value of 0.29, FULT is not doing good in the industry: 65.42% of the companies in the same industry are doing better.
Although FULT does not score too well on debt/equity it has very limited outstanding debt, which is well covered by the FCF. We will not put too much weight on the debt/equity number as it may be because of low equity, which could be a consequence of a share buyback program for instance. This needs to be investigated.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.29 | ||
| Debt/FCF | 2.49 | ||
| Altman-Z | N/A |
ROIC/WACCN/A
WACC15.56%
2.3 Liquidity
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | N/A | ||
| Quick Ratio | N/A |
3. Growth
3.1 Past
The Earnings Per Share has grown by an nice 9.47% over the past year.
The Earnings Per Share has been growing slightly by 6.04% on average over the past years.
Looking at the last year, FULT shows a quite strong growth in Revenue. The Revenue has grown by 14.23% in the last year.
The Revenue has been growing slightly by 7.41% on average over the past years.
EPS 1Y (TTM)9.47%
EPS 3Y4.31%
EPS 5Y6.04%
EPS Q2Q%14.29%
Revenue 1Y (TTM)14.23%
Revenue growth 3Y9.66%
Revenue growth 5Y7.41%
Sales Q2Q%17.13%
3.2 Future
FULT is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 6.90% yearly.
FULT is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 5.64% yearly.
EPS Next Y3.09%
EPS Next 2Y6.9%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year6.03%
Revenue Next 2Y5.64%
Revenue Next 3YN/A
Revenue Next 5YN/A
3.3 Evolution
The EPS growth rate is stable: in the next years the growth will be about the same than in the last years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
With a Price/Earnings ratio of 9.95, the valuation of FULT can be described as very reasonable.
FULT's Price/Earnings ratio is a bit cheaper when compared to the industry. FULT is cheaper than 78.86% of the companies in the same industry.
When comparing the Price/Earnings ratio of FULT to the average of the S&P500 Index (29.35), we can say FULT is valued rather cheaply.
The Price/Forward Earnings ratio is 9.65, which indicates a very decent valuation of FULT.
Based on the Price/Forward Earnings ratio, FULT is valued a bit cheaper than the industry average as 70.65% of the companies are valued more expensively.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.10, FULT is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.95 | ||
| Fwd PE | 9.65 |
4.2 Price Multiples
Compared to the rest of the industry, the Price/Free Cash Flow ratio of FULT indicates a somewhat cheap valuation: FULT is cheaper than 73.88% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 8.96 | ||
| EV/EBITDA | N/A |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates FULT does not grow enough to justify the current Price/Earnings ratio.
PEG (NY)3.21
PEG (5Y)1.65
EPS Next 2Y6.9%
EPS Next 3YN/A
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 3.90%, FULT has a reasonable but not impressive dividend return.
Compared to an average industry Dividend Yield of 3.37, FULT pays a bit more dividend than its industry peers.
Compared to an average S&P500 Dividend Yield of 2.33, FULT pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.9% |
5.2 History
The dividend of FULT is nicely growing with an annual growth rate of 6.62%!
FULT has paid a dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)6.62%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
FULT pays out 47.29% of its income as dividend. This is a bit on the high side, but may be sustainable.
The dividend of FULT is growing around the same rate as the earnings are growing. If this keeps up the dividend growth is sustainable.
DP47.29%
EPS Next 2Y6.9%
EPS Next 3YN/A
18.4
-0.06 (-0.33%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)
Earnings (Next)
Inst Owners79.07%
Inst Owner Change4.23%
Ins Owners0.95%
Ins Owner Change-1.08%
Market Cap3.35B
Analysts76.92
Price Target23.72 (28.91%)
Short Float %2.57%
Short Ratio3.48
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.9% |
Yearly Dividend0.76
Dividend Growth(5Y)6.62%
DP47.29%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)11.75%
Min EPS beat(2)10.69%
Max EPS beat(2)12.81%
EPS beat(4)4
Avg EPS beat(4)19.1%
Min EPS beat(4)1.2%
Max EPS beat(4)51.7%
EPS beat(8)7
Avg EPS beat(8)8.41%
EPS beat(12)9
Avg EPS beat(12)6.56%
EPS beat(16)12
Avg EPS beat(16)9.19%
Revenue beat(2)0
Avg Revenue beat(2)-2.44%
Min Revenue beat(2)-4.02%
Max Revenue beat(2)-0.86%
Revenue beat(4)1
Avg Revenue beat(4)-2.12%
Min Revenue beat(4)-4.22%
Max Revenue beat(4)0.6%
Revenue beat(8)4
Avg Revenue beat(8)1%
Revenue beat(12)8
Avg Revenue beat(12)10.43%
Revenue beat(16)12
Avg Revenue beat(16)17.51%
PT rev (1m)0%
PT rev (3m)8.14%
EPS NQ rev (1m)0%
EPS NQ rev (3m)6.23%
EPS NY rev (1m)0%
EPS NY rev (3m)3.88%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)2.86%
Revenue NY rev (1m)0%
Revenue NY rev (3m)2.75%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.95 | ||
| Fwd PE | 9.65 | ||
| P/S | 2.71 | ||
| P/FCF | 8.96 | ||
| P/OCF | 8.05 | ||
| P/B | 1.05 | ||
| P/tB | 1.31 | ||
| EV/EBITDA | N/A |
EPS(TTM)1.85
EY10.05%
EPS(NY)1.91
Fwd EY10.37%
FCF(TTM)2.05
FCFY11.16%
OCF(TTM)2.29
OCFY12.43%
SpS6.78
BVpS17.55
TBVpS14.06
PEG (NY)3.21
PEG (5Y)1.65
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.87% | ||
| ROE | 8.71% | ||
| ROCE | N/A | ||
| ROIC | N/A | ||
| ROICexc | N/A | ||
| ROICexgc | N/A | ||
| OM | N/A | ||
| PM (TTM) | 22.53% | ||
| GM | N/A | ||
| FCFM | 30.27% |
ROA(3y)0.96%
ROA(5y)0.92%
ROE(3y)9.79%
ROE(5y)9.17%
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-7.31%
PM growth 5Y-2.95%
GM growth 3YN/A
GM growth 5YN/A
F-Score4
Asset Turnover0.04
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.29 | ||
| Debt/FCF | 2.49 | ||
| Debt/EBITDA | N/A | ||
| Cap/Depr | 74.49% | ||
| Cap/Sales | 3.43% | ||
| Interest Coverage | N/A | ||
| Cash Conversion | N/A | ||
| Profit Quality | 134.33% | ||
| Current Ratio | N/A | ||
| Quick Ratio | N/A | ||
| Altman-Z | N/A |
F-Score4
WACC15.56%
ROIC/WACCN/A
Cap/Depr(3y)80.27%
Cap/Depr(5y)73.99%
Cap/Sales(3y)2.86%
Cap/Sales(5y)2.56%
Profit Quality(3y)154.44%
Profit Quality(5y)132.75%
High Growth Momentum
Growth
EPS 1Y (TTM)9.47%
EPS 3Y4.31%
EPS 5Y6.04%
EPS Q2Q%14.29%
EPS Next Y3.09%
EPS Next 2Y6.9%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)14.23%
Revenue growth 3Y9.66%
Revenue growth 5Y7.41%
Sales Q2Q%17.13%
Revenue Next Year6.03%
Revenue Next 2Y5.64%
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 1Y13.36%
FCF growth 3Y4.85%
FCF growth 5Y31.82%
OCF growth 1Y14.76%
OCF growth 3Y6.76%
OCF growth 5Y26.68%