First Financial Corporation (THFF) 株式分析

企業概要

First Financial Corporation operates as a bank holding company that provides a comprehensive range of financial services tailored to both individual consumers and commercial businesses across the United States. The company functions within the broader Financial Services sector, specifically classified under the Banks - Regional industry, which implies a localized operational footprint rather than national or global dominance. Its scale is defined by a market capitalization of $789.86M and an annual revenue generation of $253.64M, supported by an organizational structure employing 946 individuals. These valuation and revenue figures indicate that the entity maintains a substantial mid-cap presence within the regional banking landscape, reflecting a significant asset base and operational reach spanning west-central Indiana, east-central Illinois, western Kentucky, central and eastern Tennessee, and northern Georgia.

財務健全性

The company reported a trailing twelve-month revenue of $253.64M alongside a net income of $79.21M, while EBITDA data is not disclosed in the available financial records. The substantial disparity between total revenue and net income highlights a cost structure where operating expenses and provision for loan losses consume approximately 68.8% of total revenue, leaving the remaining 31.2% as profit margin. Free cash flow figures are not currently reported, which suggests that cash generation metrics are either embedded in operating cash flow or not separately disclosed for this reporting period. An analysis of the margin structure reveals a gross margin of 0.0%, a standard characteristic for financial institutions where revenue is recognized net of interest, coupled with an operating margin of 34.2% and a profit margin of 31.2%. The balance sheet shows a cash position of $133.55M against total debt of $490.93M, with a debt-to-equity ratio not explicitly available for calculation. Although the current ratio is not disclosed, the presence of over $133M in cash indicates a solid liquidity buffer relative to its short-term obligations. Return on equity stands at 13.2% while return on assets is 1.4%, metrics that collectively demonstrate the management's effectiveness in generating shareholder value relative to the equity base and utilizing the total asset base efficiently.

バリュエーション評価

The valuation metrics indicate a trailing P/E ratio of 9.94 and a forward P/E of 8.90, suggesting that the market anticipates an acceleration in earnings growth that will compress the valuation multiple over the coming year. The price-to-book ratio is recorded at 1.21, indicating that the company trades at a slight premium to its book value, which is typical for regional banks with strong franchise values and low risk profiles. Alternative valuation measures include a price-to-sales ratio of 3.11, while the EV/EBITDA multiple is not available due to the absence of reported EBITDA data. The stock price has fluctuated between a 52-week low of $42.05 and a 52-week high of $69.21, placing the current trading price at a level that requires specific calculation relative to these bounds to determine exact percentage positioning. The beta value is 0.40, which signifies that the stock exhibits low volatility and moves with significantly less intensity than the broader market index, offering a defensive characteristic often sought by conservative portfolios.

Growth & Income

Growth dynamics are characterized by a revenue growth rate of 4.8% year-over-year and a notably higher earnings growth rate of 31.6% year-over-year. The fact that earnings are expanding at a pace substantially faster than revenue implies improved operational efficiency, cost discipline, or a favorable mix of loan and deposit products contributing to bottom-line expansion. As a dividend payer, the company offers a yield of 3.2% with a payout ratio of 31.3%, indicating that the dividend distribution is highly sustainable given the robust earnings growth and conservative payout policy. The low payout ratio allows the company to retain a significant portion of earnings for internal capital generation and loan growth rather than distributing all profits to shareholders. Overall, the growth and income profile presents a combination of steady double-digit earnings expansion and a reliable, conservative dividend yield supported by a resilient balance sheet.