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FULTON FINANCIAL CORP (FULT) Stock Fundamental Analysis

NASDAQ:FULT - Nasdaq - US3602711000 - Common Stock

20.85  -0.26 (-1.23%)

Fundamental Rating

3

We assign a fundamental rating of 3 out of 10 to FULT. FULT was compared to 405 industry peers in the Banks industry. FULT has a bad profitability rating. Also its financial health evaluation is rather negative. FULT has a valuation in line with the averages, but on the other hand it scores bad on growth.


Dividend Valuation Growth Profitability Health

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3

1. Profitability

1.1 Basic Checks

FULT had positive earnings in the past year.
In the past year FULT had a positive cash flow from operations.
FULT had positive earnings in 4 of the past 5 years.
Of the past 5 years FULT 4 years had a positive operating cash flow.
FULT Yearly Net Income VS EBIT VS OCF VS FCFFULT 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 100M 200M 300M 400M 500M

1.2 Ratios

With a Return On Assets value of 0.85%, FULT perfoms like the industry average, outperforming 57.79% of the companies in the same industry.
FULT's Return On Equity of 8.56% is in line compared to the rest of the industry. FULT outperforms 55.53% of its industry peers.
Industry RankSector Rank
ROA 0.85%
ROE 8.56%
ROIC N/A
ROA(3y)1.02%
ROA(5y)0.95%
ROE(3y)10.14%
ROE(5y)9.36%
ROIC(3y)N/A
ROIC(5y)N/A
FULT Yearly ROA, ROE, ROICFULT Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2 4 6 8 10

1.3 Margins

With a Profit Margin value of 23.08%, FULT perfoms like the industry average, outperforming 54.77% of the companies in the same industry.
In the last couple of years the Profit Margin of FULT has remained more or less at the same level.
FULT 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) 23.08%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y7.79%
PM growth 5Y0.08%
GM growth 3YN/A
GM growth 5YN/A
FULT Yearly Profit, Operating, Gross MarginsFULT 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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1

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 no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
FULT Yearly Shares OutstandingFULT Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 50M 100M 150M
FULT Yearly Total Debt VS Total AssetsFULT Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 5B 10B 15B 20B 25B

2.2 Solvency

The Debt to FCF ratio of FULT is 5.13, which is a neutral value as it means it would take FULT, 5.13 years of fcf income to pay off all of its debts.
With a Debt to FCF ratio value of 5.13, FULT is not doing good in the industry: 65.33% of the companies in the same industry are doing better.
FULT has a Debt/Equity ratio of 0.34. This is a healthy value indicating a solid balance between debt and equity.
FULT has a worse Debt to Equity ratio (0.34) than 69.85% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.34
Debt/FCF 5.13
Altman-Z N/A
ROIC/WACCN/A
WACC10.79%
FULT Yearly LT Debt VS Equity VS FCFFULT Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 500M 1B 1.5B 2B 2.5B

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
FULT Yearly Current Assets VS Current LiabilitesFULT Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 200M 400M 600M 800M 1B

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3

3. Growth

3.1 Past

The Earnings Per Share has grown by an nice 9.47% over the past year.
FULT shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 6.04% yearly.
EPS 1Y (TTM)9.47%
EPS 3Y4.31%
EPS 5Y6.04%
EPS Q2Q%14.29%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%49.58%

3.2 Future

FULT is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 5.53% yearly.
Based on estimates for the next years, FULT will show a small growth in Revenue. The Revenue will grow by 4.68% on average per year.
EPS Next Y-1.07%
EPS Next 2Y5.53%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year3.8%
Revenue Next 2Y4.68%
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.
FULT Yearly Revenue VS EstimatesFULT Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 200M 400M 600M 800M 1B
FULT Yearly EPS VS EstimatesFULT Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.5 1 1.5 2

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4

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 11.27, which indicates a very decent valuation of FULT.
FULT's Price/Earnings ratio is a bit cheaper when compared to the industry. FULT is cheaper than 73.12% of the companies in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 28.29, FULT is valued rather cheaply.
With a Price/Forward Earnings ratio of 11.39, the valuation of FULT can be described as very reasonable.
The rest of the industry has a similar Price/Forward Earnings ratio as FULT.
Compared to an average S&P500 Price/Forward Earnings ratio of 24.44, FULT is valued rather cheaply.
Industry RankSector Rank
PE 11.27
Fwd PE 11.39
FULT Price Earnings VS Forward Price EarningsFULT Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

64.32% of the companies in the same industry are cheaper than FULT, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 17.66
EV/EBITDA N/A
FULT Per share dataFULT EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15

4.3 Compensation for Growth

PEG (NY)N/A
PEG (5Y)1.87
EPS Next 2Y5.53%
EPS Next 3YN/A

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5

5. Dividend

5.1 Amount

FULT has a Yearly Dividend Yield of 3.45%. Purely for dividend investing, there may be better candidates out there.
FULT's Dividend Yield is a higher than the industry average which is at 3.22.
Compared to an average S&P500 Dividend Yield of 2.28, FULT pays a better dividend.
Industry RankSector Rank
Dividend Yield 3.45%

5.2 History

On average, the dividend of FULT grows each year by 6.05%, which is quite nice.
FULT has paid a dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)6.05%
Div Incr Years0
Div Non Decr Years0
FULT Yearly Dividends per shareFULT Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0.2 0.4 0.6

5.3 Sustainability

46.16% of the earnings are spent on dividend by FULT. This is a bit on the high side, but may be sustainable.
FULT's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP46.16%
EPS Next 2Y5.53%
EPS Next 3YN/A
FULT Yearly Income VS Free CF VS DividendFULT Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 100M 200M 300M 400M 500M
FULT Dividend Payout.FULT Dividend Payout, showing the Payout Ratio.FULT Dividend Payout.PayoutRetained Earnings

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FULTON FINANCIAL CORP

NASDAQ:FULT (1/22/2025, 10:36:09 AM)

20.85

-0.26 (-1.23%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)01-21 2025-01-21/amc
Earnings (Next)N/A N/A
Inst Owners78.25%
Inst Owner Change0.02%
Ins Owners0.98%
Ins Owner Change-1.37%
Market Cap3.80B
Analysts76.92
Price Target23.12 (10.89%)
Short Float %3.44%
Short Ratio4.54
Dividend
Industry RankSector Rank
Dividend Yield 3.45%
Yearly Dividend0.7
Dividend Growth(5Y)6.05%
DP46.16%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)31.19%
Min EPS beat(2)10.69%
Max EPS beat(2)51.7%
EPS beat(4)4
Avg EPS beat(4)16.63%
Min EPS beat(4)1.2%
Max EPS beat(4)51.7%
EPS beat(8)6
Avg EPS beat(8)5.8%
EPS beat(12)8
Avg EPS beat(12)5.27%
EPS beat(16)11
Avg EPS beat(16)8.11%
Revenue beat(2)1
Avg Revenue beat(2)-1.71%
Min Revenue beat(2)-4.02%
Max Revenue beat(2)0.6%
Revenue beat(4)2
Avg Revenue beat(4)-1.78%
Min Revenue beat(4)-4.22%
Max Revenue beat(4)0.6%
Revenue beat(8)5
Avg Revenue beat(8)3.71%
Revenue beat(12)9
Avg Revenue beat(12)13.36%
Revenue beat(16)13
Avg Revenue beat(16)19.8%
PT rev (1m)5.43%
PT rev (3m)12.53%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-1.85%
EPS NY rev (1m)0%
EPS NY rev (3m)1.61%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0.26%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.6%
Valuation
Industry RankSector Rank
PE 11.27
Fwd PE 11.39
P/S 3.2
P/FCF 17.66
P/OCF 16.41
P/B 1.18
P/tB 1.48
EV/EBITDA N/A
EPS(TTM)1.85
EY8.87%
EPS(NY)1.83
Fwd EY8.78%
FCF(TTM)1.18
FCFY5.66%
OCF(TTM)1.27
OCFY6.09%
SpS6.53
BVpS17.6
TBVpS14.08
PEG (NY)N/A
PEG (5Y)1.87
Profitability
Industry RankSector Rank
ROA 0.85%
ROE 8.56%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 23.08%
GM N/A
FCFM 18.1%
ROA(3y)1.02%
ROA(5y)0.95%
ROE(3y)10.14%
ROE(5y)9.36%
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 3Y7.79%
PM growth 5Y0.08%
GM growth 3YN/A
GM growth 5YN/A
F-Score4
Asset Turnover0.04
Health
Industry RankSector Rank
Debt/Equity 0.34
Debt/FCF 5.13
Debt/EBITDA N/A
Cap/Depr 38.05%
Cap/Sales 1.37%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality 78.41%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score4
WACC10.79%
ROIC/WACCN/A
Cap/Depr(3y)75.51%
Cap/Depr(5y)81.87%
Cap/Sales(3y)2.35%
Cap/Sales(5y)2.65%
Profit Quality(3y)150.47%
Profit Quality(5y)114.19%
High Growth Momentum
Growth
EPS 1Y (TTM)9.47%
EPS 3Y4.31%
EPS 5Y6.04%
EPS Q2Q%14.29%
EPS Next Y-1.07%
EPS Next 2Y5.53%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%49.58%
Revenue Next Year3.8%
Revenue Next 2Y4.68%
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-59.36%
FCF growth 3Y33.99%
FCF growth 5Y5.14%
OCF growth 1Y-57.12%
OCF growth 3Y32.12%
OCF growth 5Y4.11%