INDEPENDENT BANK GROUP INC (IBTX) Stock Fundamental Analysis
NASDAQ:IBTX - Nasdaq - US45384B1061 - Common Stock - Currency: USD
Taking everything into account, IBTX scores 2 out of 10 in our fundamental rating. IBTX was compared to 405 industry peers in the Banks industry. Both the profitability and financial health of IBTX have multiple concerns. IBTX is quite expensive at the moment. It does show a decent growth rate.
1. Profitability
1.1 Basic Checks
In the past year IBTX was profitable.
IBTX had a positive operating cash flow in the past year.
In the past 5 years IBTX has always been profitable.
IBTX had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
IBTX has a worse Return On Assets (-2.20%) than 98.99% of its industry peers.
Looking at the Return On Equity, with a value of -20.96%, IBTX is doing worse than 98.99% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -2.2% | ||
| ROE | -20.96% | ||
| ROIC | N/A |
ROA(3y)0.83%
ROA(5y)0.98%
ROE(3y)6.2%
ROE(5y)6.94%
ROIC(3y)N/A
ROIC(5y)N/A
1.3 Margins
IBTX's Profit Margin has declined in the last couple of years.
The Profit Margin and Operating Margin and Gross Margin are not available for IBTX so they could not be analyzed.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | N/A | ||
| PM (TTM) | N/A | ||
| GM | N/A |
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-36.52%
PM growth 5Y-24.46%
GM growth 3YN/A
GM growth 5YN/A
2. Health
2.1 Basic Checks
IBTX does not have a ROIC to compare to the WACC, probably because it is not profitable.
IBTX has more shares outstanding than it did 1 year ago.
IBTX has more shares outstanding than it did 5 years ago.
The debt/assets ratio for IBTX has been reduced compared to a year ago.
2.2 Solvency
IBTX has a debt to FCF ratio of 12.15. This is a negative value and a sign of low solvency as IBTX would need 12.15 years to pay back of all of its debts.
IBTX has a worse Debt to FCF ratio (12.15) than 75.06% of its industry peers.
IBTX has a Debt/Equity ratio of 0.26. This is a healthy value indicating a solid balance between debt and equity.
IBTX has a Debt to Equity ratio of 0.26. This is comparable to the rest of the industry: IBTX outperforms 40.05% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.26 | ||
| Debt/FCF | 12.15 | ||
| Altman-Z | N/A |
ROIC/WACCN/A
WACC17.25%
2.3 Liquidity
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | N/A | ||
| Quick Ratio | N/A |
3. Growth
3.1 Past
The earnings per share for IBTX have decreased strongly by -39.43% in the last year.
Measured over the past years, IBTX shows a decrease in Earnings Per Share. The EPS has been decreasing by -5.80% on average per year.
Looking at the last year, IBTX shows a quite strong growth in Revenue. The Revenue has grown by 8.01% in the last year.
IBTX shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 6.63% yearly.
EPS 1Y (TTM)-39.43%
EPS 3Y-10.93%
EPS 5Y-5.8%
EPS Q2Q%-36.71%
Revenue 1Y (TTM)8.01%
Revenue growth 3Y-5.48%
Revenue growth 5Y6.63%
Sales Q2Q%-1.95%
3.2 Future
Based on estimates for the next years, IBTX will show a quite strong growth in Earnings Per Share. The EPS will grow by 14.84% on average per year.
The Revenue is expected to grow by 9.19% on average over the next years. This is quite good.
EPS Next Y-25.82%
EPS Next 2Y11.19%
EPS Next 3Y14.84%
EPS Next 5YN/A
Revenue Next Year-5.75%
Revenue Next 2Y8.16%
Revenue Next 3Y9.19%
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.
4. Valuation
4.1 Price/Earnings Ratio
Based on the Price/Earnings ratio of 25.82, the valuation of IBTX can be described as expensive.
IBTX's Price/Earnings ratio is rather expensive when compared to the industry. IBTX is more expensive than 82.62% of the companies in the same industry.
When comparing the Price/Earnings ratio of IBTX to the average of the S&P500 Index (29.63), we can say IBTX is valued inline with the index average.
A Price/Forward Earnings ratio of 14.87 indicates a correct valuation of IBTX.
Based on the Price/Forward Earnings ratio, IBTX is valued a bit more expensive than the industry average as 70.53% of the companies are valued more cheaply.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.68, IBTX is valued a bit cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 25.82 | ||
| Fwd PE | 14.87 |
4.2 Price Multiples
Based on the Price/Free Cash Flow ratio, IBTX is valued more expensive than 80.10% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 59.94 | ||
| EV/EBITDA | N/A |
4.3 Compensation for Growth
A more expensive valuation may be justified as IBTX's earnings are expected to grow with 14.84% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y11.19%
EPS Next 3Y14.84%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 2.51%, IBTX has a reasonable but not impressive dividend return.
IBTX's Dividend Yield is slightly below the industry average, which is at 3.18.
IBTX's Dividend Yield is comparable with the S&P500 average which is at 2.27.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.51% |
5.2 History
On average, the dividend of IBTX grows each year by 23.11%, which is quite nice.
IBTX has paid a dividend for at least 10 years, which is a reliable track record.
IBTX has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)23.11%
Div Incr Years0
Div Non Decr Years11
5.3 Sustainability
IBTX has negative earnings and hence a negative payout ratio. The dividend may be in danger.
The dividend of IBTX is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP-15.39%
EPS Next 2Y11.19%
EPS Next 3Y14.84%
60.67
+0.28 (+0.46%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)
Earnings (Next)
Inst Owners77.53%
Inst Owner Change-98.18%
Ins Owners3.11%
Ins Owner Change-14.32%
Market Cap2.51B
Analysts80
Price Target58.31 (-3.89%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.51% |
Yearly Dividend1.52
Dividend Growth(5Y)23.11%
DP-15.39%
Div Incr Years0
Div Non Decr Years11
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-13.55%
Min EPS beat(2)-28.26%
Max EPS beat(2)1.17%
EPS beat(4)2
Avg EPS beat(4)-7.83%
Min EPS beat(4)-28.26%
Max EPS beat(4)4.56%
EPS beat(8)3
Avg EPS beat(8)-5.37%
EPS beat(12)5
Avg EPS beat(12)-3.26%
EPS beat(16)7
Avg EPS beat(16)-2.85%
Revenue beat(2)0
Avg Revenue beat(2)-4.46%
Min Revenue beat(2)-5.4%
Max Revenue beat(2)-3.51%
Revenue beat(4)0
Avg Revenue beat(4)-5.69%
Min Revenue beat(4)-7.43%
Max Revenue beat(4)-3.51%
Revenue beat(8)0
Avg Revenue beat(8)-6.9%
Revenue beat(12)0
Avg Revenue beat(12)-5.13%
Revenue beat(16)0
Avg Revenue beat(16)-4.72%
PT rev (1m)2.69%
PT rev (3m)1.57%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-14.46%
EPS NY rev (1m)0%
EPS NY rev (3m)-14.59%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-3.84%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.93%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 25.82 | ||
| Fwd PE | 14.87 | ||
| P/S | 4.28 | ||
| P/FCF | 59.94 | ||
| P/OCF | 44.69 | ||
| P/B | 1.29 | ||
| P/tB | 1.76 | ||
| EV/EBITDA | N/A |
EPS(TTM)2.35
EY3.87%
EPS(NY)4.08
Fwd EY6.72%
FCF(TTM)1.01
FCFY1.67%
OCF(TTM)1.36
OCFY2.24%
SpS14.18
BVpS47.03
TBVpS34.54
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -2.2% | ||
| ROE | -20.96% | ||
| ROCE | N/A | ||
| ROIC | N/A | ||
| ROICexc | N/A | ||
| ROICexgc | N/A | ||
| OM | N/A | ||
| PM (TTM) | N/A | ||
| GM | N/A | ||
| FCFM | 7.14% |
ROA(3y)0.83%
ROA(5y)0.98%
ROE(3y)6.2%
ROE(5y)6.94%
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-36.52%
PM growth 5Y-24.46%
GM growth 3YN/A
GM growth 5YN/A
F-Score4
Asset Turnover0.03
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.26 | ||
| Debt/FCF | 12.15 | ||
| Debt/EBITDA | N/A | ||
| Cap/Depr | 45.25% | ||
| Cap/Sales | 2.44% | ||
| Interest Coverage | N/A | ||
| Cash Conversion | N/A | ||
| Profit Quality | N/A | ||
| Current Ratio | N/A | ||
| Quick Ratio | N/A | ||
| Altman-Z | N/A |
F-Score4
WACC17.25%
ROIC/WACCN/A
Cap/Depr(3y)194.46%
Cap/Depr(5y)158.96%
Cap/Sales(3y)8.88%
Cap/Sales(5y)7.12%
Profit Quality(3y)168.82%
Profit Quality(5y)129.43%
High Growth Momentum
Growth
EPS 1Y (TTM)-39.43%
EPS 3Y-10.93%
EPS 5Y-5.8%
EPS Q2Q%-36.71%
EPS Next Y-25.82%
EPS Next 2Y11.19%
EPS Next 3Y14.84%
EPS Next 5YN/A
Revenue 1Y (TTM)8.01%
Revenue growth 3Y-5.48%
Revenue growth 5Y6.63%
Sales Q2Q%-1.95%
Revenue Next Year-5.75%
Revenue Next 2Y8.16%
Revenue Next 3Y9.19%
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-65.51%
FCF growth 3Y2.7%
FCF growth 5Y3.65%
OCF growth 1Y-73.99%
OCF growth 3Y2.32%
OCF growth 5Y0.81%