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FIRST INTERNET BANCORP (INBK) Stock Fundamental Analysis

NASDAQ:INBK - Nasdaq - US3205571017 - Common Stock

35.4  -0.5 (-1.39%)

Fundamental Rating

4

Overall INBK gets a fundamental rating of 4 out of 10. We evaluated INBK against 405 industry peers in the Banks industry. Both the profitability and financial health of INBK have multiple concerns. INBK is growing strongly while it is still valued neutral. This is a good combination!


Dividend Valuation Growth Profitability Health

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2

1. Profitability

1.1 Basic Checks

In the past year INBK was profitable.
In the past year INBK had a positive cash flow from operations.
In the past 5 years INBK has always been profitable.
INBK had a positive operating cash flow in 4 of the past 5 years.
INBK Yearly Net Income VS EBIT VS OCF VS FCFINBK 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 0 20M -20M 40M -40M 60M 80M

1.2 Ratios

INBK's Return On Assets of 0.38% is on the low side compared to the rest of the industry. INBK is outperformed by 80.40% of its industry peers.
The Return On Equity of INBK (5.74%) is worse than 69.85% of its industry peers.
Industry RankSector Rank
ROA 0.38%
ROE 5.74%
ROIC N/A
ROA(3y)0.7%
ROA(5y)0.68%
ROE(3y)8.23%
ROE(5y)8.37%
ROIC(3y)N/A
ROIC(5y)N/A
INBK Yearly ROA, ROE, ROICINBK Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2 4 6 8 10

1.3 Margins

INBK has a worse Profit Margin (18.04%) than 66.33% of its industry peers.
In the last couple of years the Profit Margin of INBK has declined.
INBK 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) 18.04%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-34.22%
PM growth 5Y-23.01%
GM growth 3YN/A
GM growth 5YN/A
INBK Yearly Profit, Operating, Gross MarginsINBK Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 10 20 30 40

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3

2. Health

2.1 Basic Checks

INBK does not have a ROIC to compare to the WACC, probably because it is not profitable.
Compared to 1 year ago, INBK has less shares outstanding
Compared to 5 years ago, INBK has less shares outstanding
The debt/assets ratio for INBK has been reduced compared to a year ago.
INBK Yearly Shares OutstandingINBK Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2M 4M 6M 8M 10M
INBK Yearly Total Debt VS Total AssetsINBK Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 1B 2B 3B 4B 5B

2.2 Solvency

The Debt to FCF ratio of INBK is 3.63, which is a good value as it means it would take INBK, 3.63 years of fcf income to pay off all of its debts.
INBK has a Debt to FCF ratio (3.63) which is in line with its industry peers.
A Debt/Equity ratio of 0.27 indicates that INBK is not too dependend on debt financing.
INBK has a worse Debt to Equity ratio (0.27) than 62.06% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.27
Debt/FCF 3.63
Altman-Z N/A
ROIC/WACCN/A
WACC18.53%
INBK Yearly LT Debt VS Equity VS FCFINBK Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 100M 200M 300M

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
INBK Yearly Current Assets VS Current LiabilitesINBK Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 10M 20M 30M 40M 50M

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7

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 85.40% over the past year.
INBK shows a very negative growth in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -14.23% yearly.
INBK shows a strong growth in Revenue. In the last year, the Revenue has grown by 20.86%.
INBK shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 7.28% yearly.
EPS 1Y (TTM)85.4%
EPS 3Y-28.27%
EPS 5Y-14.23%
EPS Q2Q%105.13%
Revenue 1Y (TTM)20.86%
Revenue growth 3Y0.08%
Revenue growth 5Y7.28%
Sales Q2Q%16.75%

3.2 Future

Based on estimates for the next years, INBK will show a very strong growth in Earnings Per Share. The EPS will grow by 64.70% on average per year.
INBK is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 16.50% yearly.
EPS Next Y159.27%
EPS Next 2Y91.74%
EPS Next 3Y64.7%
EPS Next 5YN/A
Revenue Next Year16.02%
Revenue Next 2Y16.94%
Revenue Next 3Y16.5%
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.
INBK Yearly Revenue VS EstimatesINBK Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 20M 40M 60M 80M 100M
INBK Yearly EPS VS EstimatesINBK 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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6

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 13.94, INBK is valued correctly.
Compared to the rest of the industry, the Price/Earnings ratio of INBK is on the same level as its industry peers.
When comparing the Price/Earnings ratio of INBK to the average of the S&P500 Index (28.29), we can say INBK is valued rather cheaply.
INBK is valuated reasonably with a Price/Forward Earnings ratio of 8.23.
Compared to the rest of the industry, the Price/Forward Earnings ratio of INBK indicates a rather cheap valuation: INBK is cheaper than 88.69% of the companies listed in the same industry.
INBK is valuated cheaply when we compare the Price/Forward Earnings ratio to 24.44, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 13.94
Fwd PE 8.23
INBK Price Earnings VS Forward Price EarningsINBK 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, INBK is valued a bit cheaper than 65.08% of the companies in the same industry.
Industry RankSector Rank
P/FCF 10.6
EV/EBITDA N/A
INBK Per share dataINBK EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30 40

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
INBK's earnings are expected to grow with 64.70% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.09
PEG (5Y)N/A
EPS Next 2Y91.74%
EPS Next 3Y64.7%

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5

5. Dividend

5.1 Amount

INBK has a yearly dividend return of 0.68%, which is pretty low.
With a Dividend Yield of 0.68, INBK pays less dividend than the industry average, which is at 3.22. 83.67% of the companies listed in the same industry pay a better dividend than INBK!
Compared to an average S&P500 Dividend Yield of 2.28, INBK's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 0.68%

5.2 History

The dividend of INBK has a limited annual growth rate of 0.27%.
INBK has been paying a dividend for at least 10 years, so it has a reliable track record.
INBK has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)0.27%
Div Incr Years0
Div Non Decr Years10
INBK Yearly Dividends per shareINBK Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0.05 0.1 0.15 0.2

5.3 Sustainability

9.58% of the earnings are spent on dividend by INBK. This is a low number and sustainable payout ratio.
The dividend of INBK is growing, but earnings are growing more, so the dividend growth is sustainable.
DP9.58%
EPS Next 2Y91.74%
EPS Next 3Y64.7%
INBK Yearly Income VS Free CF VS DividendINBK Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 20M -20M 40M -40M 60M
INBK Dividend Payout.INBK Dividend Payout, showing the Payout Ratio.INBK Dividend Payout.PayoutRetained Earnings

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FIRST INTERNET BANCORP

NASDAQ:INBK (1/22/2025, 10:43:38 AM)

35.4

-0.5 (-1.39%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)10-23 2024-10-23/amc
Earnings (Next)01-22 2025-01-22/amc
Inst Owners71.25%
Inst Owner Change0.02%
Ins Owners7.65%
Ins Owner Change-0.1%
Market Cap306.92M
Analysts76.36
Price Target44.57 (25.9%)
Short Float %0.88%
Short Ratio2.24
Dividend
Industry RankSector Rank
Dividend Yield 0.68%
Yearly Dividend0.24
Dividend Growth(5Y)0.27%
DP9.58%
Div Incr Years0
Div Non Decr Years10
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-6.79%
Min EPS beat(2)-7.51%
Max EPS beat(2)-6.07%
EPS beat(4)2
Avg EPS beat(4)11.53%
Min EPS beat(4)-7.51%
Max EPS beat(4)51.8%
EPS beat(8)4
Avg EPS beat(8)-8.63%
EPS beat(12)6
Avg EPS beat(12)-6.96%
EPS beat(16)9
Avg EPS beat(16)-2.83%
Revenue beat(2)0
Avg Revenue beat(2)-6.36%
Min Revenue beat(2)-9.19%
Max Revenue beat(2)-3.52%
Revenue beat(4)1
Avg Revenue beat(4)-2.43%
Min Revenue beat(4)-9.19%
Max Revenue beat(4)7%
Revenue beat(8)2
Avg Revenue beat(8)-1.75%
Revenue beat(12)6
Avg Revenue beat(12)3.71%
Revenue beat(16)10
Avg Revenue beat(16)11.6%
PT rev (1m)3.8%
PT rev (3m)4.8%
EPS NQ rev (1m)0%
EPS NQ rev (3m)2.21%
EPS NY rev (1m)0%
EPS NY rev (3m)-0.54%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)7.35%
Revenue NY rev (1m)-10.67%
Revenue NY rev (3m)-2.14%
Valuation
Industry RankSector Rank
PE 13.94
Fwd PE 8.23
P/S 2.51
P/FCF 10.6
P/OCF 9.76
P/B 0.8
P/tB 0.81
EV/EBITDA N/A
EPS(TTM)2.54
EY7.18%
EPS(NY)4.3
Fwd EY12.15%
FCF(TTM)3.34
FCFY9.43%
OCF(TTM)3.63
OCFY10.25%
SpS14.12
BVpS44.42
TBVpS43.88
PEG (NY)0.09
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 0.38%
ROE 5.74%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 18.04%
GM N/A
FCFM 23.65%
ROA(3y)0.7%
ROA(5y)0.68%
ROE(3y)8.23%
ROE(5y)8.37%
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-34.22%
PM growth 5Y-23.01%
GM growth 3YN/A
GM growth 5YN/A
F-Score8
Asset Turnover0.02
Health
Industry RankSector Rank
Debt/Equity 0.27
Debt/FCF 3.63
Debt/EBITDA N/A
Cap/Depr 28.48%
Cap/Sales 2.04%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality 131.07%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score8
WACC18.53%
ROIC/WACCN/A
Cap/Depr(3y)211.5%
Cap/Depr(5y)204.05%
Cap/Sales(3y)15.05%
Cap/Sales(5y)15.13%
Profit Quality(3y)103.51%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)85.4%
EPS 3Y-28.27%
EPS 5Y-14.23%
EPS Q2Q%105.13%
EPS Next Y159.27%
EPS Next 2Y91.74%
EPS Next 3Y64.7%
EPS Next 5YN/A
Revenue 1Y (TTM)20.86%
Revenue growth 3Y0.08%
Revenue growth 5Y7.28%
Sales Q2Q%16.75%
Revenue Next Year16.02%
Revenue Next 2Y16.94%
Revenue Next 3Y16.5%
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-54.68%
FCF growth 3YN/A
FCF growth 5Y-25.3%
OCF growth 1Y-63.3%
OCF growth 3Y-3.68%
OCF growth 5Y-16.84%