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INDEPENDENT BANK GROUP INC (IBTX) Stock Fundamental Analysis

NASDAQ:IBTX - Nasdaq - US45384B1061 - Common Stock - Currency: USD

60.67  +0.28 (+0.46%)

After market: 60.63 -0.04 (-0.07%)

Fundamental Rating

2

We assign a fundamental rating of 2 out of 10 to IBTX. IBTX was compared to 398 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.


Dividend Valuation Growth Profitability Health

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2

1. Profitability

1.1 Basic Checks

IBTX had positive earnings in the past year.
IBTX had a positive operating cash flow in the past year.
Each year in the past 5 years IBTX has been profitable.
Each year in the past 5 years IBTX had a positive operating cash flow.
IBTX Yearly Net Income VS EBIT VS OCF VS FCFIBTX 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 250M

1.2 Ratios

IBTX's Return On Assets of -2.20% is on the low side compared to the rest of the industry. IBTX is outperformed by 98.99% of its industry peers.
With a Return On Equity value of -20.96%, IBTX is not doing good in the industry: 98.99% of the companies in the same industry are doing better.
Industry RankSector 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
IBTX Yearly ROA, ROE, ROICIBTX Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2 4 6 8

1.3 Margins

In the last couple of years the Profit Margin of IBTX has declined.
The Profit Margin and Operating Margin and Gross Margin are not available for IBTX so they could not be analyzed.
Industry RankSector 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
IBTX Yearly Profit, Operating, Gross MarginsIBTX 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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1

2. Health

2.1 Basic Checks

IBTX does not have a ROIC to compare to the WACC, probably because it is not profitable.
Compared to 1 year ago, IBTX has more shares outstanding
The number of shares outstanding for IBTX has been increased compared to 5 years ago.
The debt/assets ratio for IBTX has been reduced compared to a year ago.
IBTX Yearly Shares OutstandingIBTX Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 10M 20M 30M 40M
IBTX Yearly Total Debt VS Total AssetsIBTX Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 5B 10B 15B

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.
Looking at the Debt to FCF ratio, with a value of 12.15, IBTX is doing worse than 75.06% of the companies in the same industry.
A Debt/Equity ratio of 0.26 indicates that IBTX is not too dependend on debt financing.
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 RankSector Rank
Debt/Equity 0.26
Debt/FCF 12.15
Altman-Z N/A
ROIC/WACCN/A
WACC17.25%
IBTX Yearly LT Debt VS Equity VS FCFIBTX 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
IBTX Yearly Current Assets VS Current LiabilitesIBTX Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2021 2022 2023 5M 10M 15M 20M 25M

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3. Growth

3.1 Past

IBTX shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -39.43%.
IBTX shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -5.80% yearly.
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.
IBTX is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 9.19% yearly.
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

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 accelerating.
IBTX Yearly Revenue VS EstimatesIBTX Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 200M 400M 600M
IBTX Yearly EPS VS EstimatesIBTX Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 1 2 3 4 5

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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.
82.62% of the companies in the same industry are cheaper than IBTX, based on the Price/Earnings ratio.
Compared to an average S&P500 Price/Earnings ratio of 28.98, IBTX is valued at the same level.
A Price/Forward Earnings ratio of 14.87 indicates a correct valuation of IBTX.
70.53% of the companies in the same industry are cheaper than IBTX, based on the Price/Forward Earnings ratio.
When comparing the Price/Forward Earnings ratio of IBTX to the average of the S&P500 Index (21.38), we can say IBTX is valued slightly cheaper.
Industry RankSector Rank
PE 25.82
Fwd PE 14.87
IBTX Price Earnings VS Forward Price EarningsIBTX Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

Based on the Price/Free Cash Flow ratio, IBTX is valued expensively inside the industry as 80.10% of the companies are valued cheaper.
Industry RankSector Rank
P/FCF 59.94
EV/EBITDA N/A
IBTX Per share dataIBTX EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30 40

4.3 Compensation for Growth

IBTX's earnings are expected to grow with 14.84% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y11.19%
EPS Next 3Y14.84%

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5. Dividend

5.1 Amount

IBTX has a Yearly Dividend Yield of 2.51%. Purely for dividend investing, there may be better candidates out there.
IBTX's Dividend Yield is slightly below the industry average, which is at 3.53.
IBTX's Dividend Yield is comparable with the S&P500 average which is at 2.46.
Industry RankSector 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 been paying a dividend for at least 10 years, so it has 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
IBTX Yearly Dividends per shareIBTX Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0.5 1 1.5

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%
IBTX Yearly Income VS Free CF VS DividendIBTX 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

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INDEPENDENT BANK GROUP INC

NASDAQ:IBTX (12/31/2024, 8:00:02 PM)

After market: 60.63 -0.04 (-0.07%)

60.67

+0.28 (+0.46%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)10-21 2024-10-21/amc
Earnings (Next)01-20 2025-01-20/amc
Inst Owners77.53%
Inst Owner Change-1.76%
Ins Owners3.11%
Ins Owner Change-14.31%
Market Cap2.51B
Analysts80
Price Target58.31 (-3.89%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector 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 RankSector 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 RankSector 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 RankSector 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%