NORTHRIM BANCORP INC (NRIM) Stock Fundamental Analysis
NASDAQ:NRIM - Nasdaq - US6667621097 - Common Stock - Currency: USD
Taking everything into account, NRIM scores 5 out of 10 in our fundamental rating. NRIM was compared to 405 industry peers in the Banks industry. There are concerns on the financial health of NRIM while its profitability can be described as average. NRIM is showing excellent growth while it is valued at reasonable prices. Keep and eye on this one!
1. Profitability
1.1 Basic Checks
In the past year NRIM was profitable.
NRIM had a positive operating cash flow in the past year.
NRIM had positive earnings in each of the past 5 years.
In multiple years NRIM reported negative operating cash flow during the last 5 years.
1.2 Ratios
The Return On Assets of NRIM (1.10%) is better than 74.94% of its industry peers.
With an excellent Return On Equity value of 12.56%, NRIM belongs to the best of the industry, outperforming 86.22% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.1% | ||
| ROE | 12.56% | ||
| ROIC | N/A |
ROA(3y)1.09%
ROA(5y)1.24%
ROE(3y)12.9%
ROE(5y)13.86%
ROIC(3y)N/A
ROIC(5y)N/A
1.3 Margins
NRIM has a Profit Margin (22.59%) which is in line with its industry peers.
In the last couple of years the Profit Margin of NRIM has grown nicely.
NRIM does not have Operating Margin and Gross Margin available, so we won't be analyzing them here.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | N/A | ||
| PM (TTM) | 22.59% | ||
| GM | N/A |
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-5.45%
PM growth 5Y3.19%
GM growth 3YN/A
GM growth 5YN/A
2. Health
2.1 Basic Checks
NRIM does not have a ROIC to compare to the WACC, probably because it is not profitable.
Compared to 1 year ago, NRIM has about the same amount of shares outstanding.
Compared to 5 years ago, NRIM has less shares outstanding
Compared to 1 year ago, NRIM has an improved debt to assets ratio.
2.2 Solvency
The Debt to FCF ratio of NRIM is 3.44, which is a good value as it means it would take NRIM, 3.44 years of fcf income to pay off all of its debts.
NRIM has a Debt to FCF ratio of 3.44. This is comparable to the rest of the industry: NRIM outperforms 45.36% of its industry peers.
A Debt/Equity ratio of 0.04 indicates that NRIM is not too dependend on debt financing.
NRIM has a better Debt to Equity ratio (0.04) than 84.21% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.04 | ||
| Debt/FCF | 3.44 | ||
| Altman-Z | N/A |
ROIC/WACCN/A
WACC13.45%
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 impressive 46.99% over the past year.
NRIM shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 16.77% yearly.
NRIM shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 19.75%.
The Revenue has been growing by 8.82% on average over the past years. This is quite good.
EPS 1Y (TTM)46.99%
EPS 3Y3.23%
EPS 5Y16.77%
EPS Q2Q%62.18%
Revenue 1Y (TTM)19.75%
Revenue growth 3Y5.26%
Revenue growth 5Y8.82%
Sales Q2Q%15.37%
3.2 Future
Based on estimates for the next years, NRIM will show a quite strong growth in Earnings Per Share. The EPS will grow by 14.88% on average per year.
The Revenue is expected to grow by 10.29% on average over the next years. This is quite good.
EPS Next Y24.18%
EPS Next 2Y14.88%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year14.1%
Revenue Next 2Y10.29%
Revenue Next 3YN/A
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 stable.
The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings ratio is 12.30, which indicates a correct valuation of NRIM.
Compared to the rest of the industry, the Price/Earnings ratio of NRIM is on the same level as its industry peers.
When comparing the Price/Earnings ratio of NRIM to the average of the S&P500 Index (29.63), we can say NRIM is valued rather cheaply.
NRIM is valuated reasonably with a Price/Forward Earnings ratio of 9.91.
Based on the Price/Forward Earnings ratio, NRIM is valued a bit cheaper than the industry average as 72.18% of the companies are valued more expensively.
NRIM is valuated cheaply when we compare the Price/Forward Earnings ratio to 22.68, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 12.3 | ||
| Fwd PE | 9.91 |
4.2 Price Multiples
NRIM's Price/Free Cash Flow ratio is rather expensive when compared to the industry. NRIM is more expensive than 81.45% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 148.84 | ||
| EV/EBITDA | N/A |
4.3 Compensation for Growth
NRIM's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
NRIM's earnings are expected to grow with 14.88% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.51
PEG (5Y)0.73
EPS Next 2Y14.88%
EPS Next 3YN/A
5. Dividend
5.1 Amount
NRIM has a Yearly Dividend Yield of 2.98%.
Compared to an average industry Dividend Yield of 3.18, NRIM has a dividend in line with its industry peers.
NRIM's Dividend Yield is a higher than the S&P500 average which is at 2.27.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.98% |
5.2 History
The dividend of NRIM is nicely growing with an annual growth rate of 18.72%!
NRIM has been paying a dividend for at least 10 years, so it has a reliable track record.
NRIM has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)18.72%
Div Incr Years14
Div Non Decr Years14
5.3 Sustainability
41.43% of the earnings are spent on dividend by NRIM. This is a bit on the high side, but may be sustainable.
The dividend of NRIM is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP41.43%
EPS Next 2Y14.88%
EPS Next 3YN/A
81.21
-2.48 (-2.96%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)
Earnings (Next)
Inst Owners72.49%
Inst Owner Change0.76%
Ins Owners2.94%
Ins Owner Change-0.14%
Market Cap446.65M
Analysts85
Price Target100.98 (24.34%)
Short Float %0.74%
Short Ratio0.75
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.98% |
Yearly Dividend2.43
Dividend Growth(5Y)18.72%
DP41.43%
Div Incr Years14
Div Non Decr Years14
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)10.92%
Min EPS beat(2)0.6%
Max EPS beat(2)21.24%
EPS beat(4)3
Avg EPS beat(4)13.53%
Min EPS beat(4)-5.91%
Max EPS beat(4)38.19%
EPS beat(8)4
Avg EPS beat(8)-1.74%
EPS beat(12)6
Avg EPS beat(12)1.21%
EPS beat(16)9
Avg EPS beat(16)4.57%
Revenue beat(2)1
Avg Revenue beat(2)0.34%
Min Revenue beat(2)-1.4%
Max Revenue beat(2)2.08%
Revenue beat(4)2
Avg Revenue beat(4)0.11%
Min Revenue beat(4)-1.4%
Max Revenue beat(4)2.08%
Revenue beat(8)4
Avg Revenue beat(8)2.31%
Revenue beat(12)8
Avg Revenue beat(12)15.61%
Revenue beat(16)12
Avg Revenue beat(16)30.85%
PT rev (1m)10%
PT rev (3m)10%
EPS NQ rev (1m)-3.53%
EPS NQ rev (3m)-3.53%
EPS NY rev (1m)0.94%
EPS NY rev (3m)42.97%
Revenue NQ rev (1m)5.07%
Revenue NQ rev (3m)5.07%
Revenue NY rev (1m)7.67%
Revenue NY rev (3m)13.34%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 12.3 | ||
| Fwd PE | 9.91 | ||
| P/S | 3.09 | ||
| P/FCF | 148.84 | ||
| P/OCF | 77.28 | ||
| P/B | 1.72 | ||
| P/tB | 2.01 | ||
| EV/EBITDA | N/A |
EPS(TTM)6.6
EY8.13%
EPS(NY)8.2
Fwd EY10.09%
FCF(TTM)0.55
FCFY0.67%
OCF(TTM)1.05
OCFY1.29%
SpS26.28
BVpS47.28
TBVpS40.46
PEG (NY)0.51
PEG (5Y)0.73
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.1% | ||
| ROE | 12.56% | ||
| ROCE | N/A | ||
| ROIC | N/A | ||
| ROICexc | N/A | ||
| ROICexgc | N/A | ||
| OM | N/A | ||
| PM (TTM) | 22.59% | ||
| GM | N/A | ||
| FCFM | 2.08% |
ROA(3y)1.09%
ROA(5y)1.24%
ROE(3y)12.9%
ROE(5y)13.86%
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-5.45%
PM growth 5Y3.19%
GM growth 3YN/A
GM growth 5YN/A
F-Score8
Asset Turnover0.05
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.04 | ||
| Debt/FCF | 3.44 | ||
| Debt/EBITDA | N/A | ||
| Cap/Depr | 63.35% | ||
| Cap/Sales | 1.92% | ||
| Interest Coverage | N/A | ||
| Cash Conversion | N/A | ||
| Profit Quality | 9.19% | ||
| Current Ratio | N/A | ||
| Quick Ratio | N/A | ||
| Altman-Z | N/A |
F-Score8
WACC13.45%
ROIC/WACCN/A
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)46.99%
EPS 3Y3.23%
EPS 5Y16.77%
EPS Q2Q%62.18%
EPS Next Y24.18%
EPS Next 2Y14.88%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)19.75%
Revenue growth 3Y5.26%
Revenue growth 5Y8.82%
Sales Q2Q%15.37%
Revenue Next Year14.1%
Revenue Next 2Y10.29%
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-84.12%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-77.94%
OCF growth 3YN/A
OCF growth 5YN/A