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SALISBURY BANCORP INC (SAL) Stock Fundamental Analysis

NASDAQ:SAL - Nasdaq - US7952261094 - Common Stock - Currency: USD

27.88  +0.43 (+1.57%)

Fundamental Rating

3

We assign a fundamental rating of 3 out of 10 to SAL. SAL was compared to 405 industry peers in the Banks industry. SAL has a bad profitability rating. Also its financial health evaluation is rather negative. SAL 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

SAL had positive earnings in the past year.
In the past year SAL had a positive cash flow from operations.
SAL had positive earnings in each of the past 5 years.
SAL had a positive operating cash flow in each of the past 5 years.
SAL Yearly Net Income VS EBIT VS OCF VS FCFSAL 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 5M 10M 15M 20M 25M

1.2 Ratios

Looking at the Return On Assets, with a value of 0.94%, SAL is doing worse than 62.83% of the companies in the same industry.
SAL has a Return On Equity of 11.00%. This is comparable to the rest of the industry: SAL outperforms 48.20% of its industry peers.
Industry RankSector Rank
ROA 0.94%
ROE 11%
ROIC N/A
ROA(3y)0.99%
ROA(5y)0.95%
ROE(3y)11.16%
ROE(5y)10.31%
ROIC(3y)N/A
ROIC(5y)N/A
SAL Yearly ROA, ROE, ROICSAL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2 4 6 8 10

1.3 Margins

With a Profit Margin value of 26.49%, SAL perfoms like the industry average, outperforming 44.36% of the companies in the same industry.
In the last couple of years the Profit Margin of SAL has grown nicely.
The Operating Margin and Gross Margin are not available for SAL so they could not be analyzed.
Industry RankSector Rank
OM N/A
PM (TTM) 26.49%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y2.77%
PM growth 5Y11.87%
GM growth 3YN/A
GM growth 5YN/A
SAL Yearly Profit, Operating, Gross MarginsSAL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 10 20 30

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3

2. Health

2.1 Basic Checks

SAL does not have a ROIC to compare to the WACC, probably because it is not profitable.
SAL has more shares outstanding than it did 1 year ago.
The debt/assets ratio for SAL has been reduced compared to a year ago.
SAL Yearly Shares OutstandingSAL Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 1M 2M 3M 4M 5M
SAL Yearly Total Debt VS Total AssetsSAL Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 500M 1B 1.5B

2.2 Solvency

The Debt to FCF ratio of SAL is 1.28, which is an excellent value as it means it would take SAL, only 1.28 years of fcf income to pay off all of its debts.
The Debt to FCF ratio of SAL (1.28) is better than 63.55% of its industry peers.
A Debt/Equity ratio of 0.22 indicates that SAL is not too dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.22, SAL is doing worse than 65.47% of the companies in the same industry.
Although SAL does not score too well on debt/equity it has very limited outstanding debt, which is well covered by the FCF. We will not put too much weight on the debt/equity number as it may be because of low equity, which could be a consequence of a share buyback program for instance. This needs to be investigated.
Industry RankSector Rank
Debt/Equity 0.22
Debt/FCF 1.28
Altman-Z N/A
ROIC/WACCN/A
WACC8.75%
SAL Yearly LT Debt VS Equity VS FCFSAL Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 20M 40M 60M 80M 100M

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
SAL Yearly Current Assets VS Current LiabilitesSAL Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 5M 10M 15M

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3

3. Growth

3.1 Past

SAL shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 2.32%.
Measured over the past 5 years, SAL shows a small growth in Earnings Per Share. The EPS has been growing by 4.19% on average per year.
The Revenue has been growing slightly by 2.40% in the past year.
SAL shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 7.50% yearly.
EPS 1Y (TTM)2.32%
EPS 3Y-7.09%
EPS 5Y4.19%
EPS Q2Q%-10.61%
Revenue 1Y (TTM)2.4%
Revenue growth 3Y9.38%
Revenue growth 5Y7.5%
Sales Q2Q%-13.37%

3.2 Future

SAL is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 12.05% yearly.
The Revenue is expected to decrease by -3.61% on average over the next years.
EPS Next Y13%
EPS Next 2Y12.05%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year-11.18%
Revenue Next 2Y-3.61%
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 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 decreasing.
SAL Yearly Revenue VS EstimatesSAL Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10M 20M 30M 40M 50M
SAL Yearly EPS VS EstimatesSAL Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1 2 3

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5

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 10.52 indicates a reasonable valuation of SAL.
Based on the Price/Earnings ratio, SAL is valued a bit more expensive than 73.62% of the companies in the same industry.
When comparing the Price/Earnings ratio of SAL to the average of the S&P500 Index (29.63), we can say SAL is valued rather cheaply.
Based on the Price/Forward Earnings ratio of 8.12, the valuation of SAL can be described as reasonable.
SAL's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. SAL is cheaper than 72.90% of the companies in the same industry.
SAL's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 22.68.
Industry RankSector Rank
PE 10.52
Fwd PE 8.12
SAL Price Earnings VS Forward Price EarningsSAL 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, SAL is valued a bit cheaper than the industry average as 70.74% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 5.72
EV/EBITDA N/A
SAL Per share dataSAL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15 20

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.
A more expensive valuation may be justified as SAL's earnings are expected to grow with 12.05% in the coming years.
PEG (NY)0.81
PEG (5Y)2.51
EPS Next 2Y12.05%
EPS Next 3YN/A

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5

5. Dividend

5.1 Amount

SAL has a Yearly Dividend Yield of 2.30%.
Compared to an average industry Dividend Yield of 3.18, SAL is paying slightly less dividend.
Compared to an average S&P500 Dividend Yield of 2.27, SAL has a dividend comparable with the average S&P500 company.
Industry RankSector Rank
Dividend Yield 2.3%

5.2 History

The dividend of SAL decreases each year by -5.24%.
SAL has paid a dividend for at least 10 years, which is a reliable track record.
SAL has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)-5.24%
Div Incr Years3
Div Non Decr Years13
SAL Yearly Dividends per shareSAL Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 0.2 0.4 0.6

5.3 Sustainability

SAL pays out 25.32% of its income as dividend. This is a sustainable payout ratio.
DP25.32%
EPS Next 2Y12.05%
EPS Next 3YN/A
SAL Yearly Income VS Free CF VS DividendSAL Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 5M 10M 15M 20M 25M
SAL Dividend Payout.SAL Dividend Payout, showing the Payout Ratio.SAL Dividend Payout.PayoutRetained Earnings

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SALISBURY BANCORP INC

NASDAQ:SAL (8/11/2023, 8:22:23 PM)

27.88

+0.43 (+1.57%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)07-26 2023-07-26/dmh
Earnings (Next)10-17 2023-10-17
Inst Owners0.18%
Inst Owner Change-99.31%
Ins Owners4.58%
Ins Owner Change0%
Market Cap161.87M
Analysts45
Price Target31.62 (13.41%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.3%
Yearly Dividend0.85
Dividend Growth(5Y)-5.24%
DP25.32%
Div Incr Years3
Div Non Decr Years13
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-19.83%
Min EPS beat(2)-20.79%
Max EPS beat(2)-18.87%
EPS beat(4)0
Avg EPS beat(4)-13.56%
Min EPS beat(4)-20.79%
Max EPS beat(4)-3.56%
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)1
Avg Revenue beat(2)5.48%
Min Revenue beat(2)-1.19%
Max Revenue beat(2)12.16%
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)0%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
Industry RankSector Rank
PE 10.52
Fwd PE 8.12
P/S 2.93
P/FCF 5.72
P/OCF 5.66
P/B 1.22
P/tB 1.36
EV/EBITDA N/A
EPS(TTM)2.65
EY9.51%
EPS(NY)3.43
Fwd EY12.32%
FCF(TTM)4.88
FCFY17.49%
OCF(TTM)4.93
OCFY17.68%
SpS9.52
BVpS22.92
TBVpS20.51
PEG (NY)0.81
PEG (5Y)2.51
Profitability
Industry RankSector Rank
ROA 0.94%
ROE 11%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 26.49%
GM N/A
FCFM N/A
ROA(3y)0.99%
ROA(5y)0.95%
ROE(3y)11.16%
ROE(5y)10.31%
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 3Y2.77%
PM growth 5Y11.87%
GM growth 3YN/A
GM growth 5YN/A
F-Score5
Asset Turnover0.04
Health
Industry RankSector Rank
Debt/Equity 0.22
Debt/FCF 1.28
Debt/EBITDA N/A
Cap/Depr 17.19%
Cap/Sales N/A
Interest Coverage N/A
Cash Conversion N/A
Profit Quality 193.38%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score5
WACC8.75%
ROIC/WACCN/A
Cap/Depr(3y)142.19%
Cap/Depr(5y)119.24%
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)115.85%
Profit Quality(5y)119.16%
High Growth Momentum
Growth
EPS 1Y (TTM)2.32%
EPS 3Y-7.09%
EPS 5Y4.19%
EPS Q2Q%-10.61%
EPS Next Y13%
EPS Next 2Y12.05%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)2.4%
Revenue growth 3Y9.38%
Revenue growth 5Y7.5%
Sales Q2Q%-13.37%
Revenue Next Year-11.18%
Revenue Next 2Y-3.61%
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 1Y90.14%
FCF growth 3Y29.42%
FCF growth 5Y26.35%
OCF growth 1Y44.8%
OCF growth 3Y24.19%
OCF growth 5Y21.87%